Ecobank Ghana PLC has been appointed as the Lead Arranger and Book Runner for a US$200 million medium-term loan facility to support the second phase expansion of the Sentuo Oil Refinery. The move is expected to bolster Ghana’s energy security and accelerate industrial development.
The agreement was formalized through the signing of a Memorandum of Understanding (MoU) between Ecobank Ghana and Sentuo Group in Accra.
Abena Osei-Poku, Managing Director of Ecobank Ghana PLC, described the deal as a major milestone for both the refinery and the nation’s industrial and energy sectors. She noted that the financing demonstrates Ecobank’s capacity to originate, structure, and deliver large-scale financial solutions aligned with national development goals.
According to Mrs. Osei-Poku, the Phase Two expansion represents a bold, forward-looking investment that signals a decisive push toward energy security, industrial growth, and value addition in Ghana. She added that the project would help transform the refinery into an integrated petrochemical hub, creating wider opportunities within the country’s downstream petroleum industry.
She stated that the mandate reflects strong confidence in Ecobank’s institutional strength, regional reach, and execution capabilities. As Lead Arranger, Ecobank will coordinate a consortium of local, regional, and international financiers to efficiently raise the required capital, while upholding high standards of governance and transparency.
Mrs. Osei-Poku expressed gratitude to Sentuo Group for its trust in the bank and acknowledged the support of regulators and financial sector partners in enabling such large-scale financing transactions.
“At Ecobank Ghana, we remain firmly committed to financing initiatives that unlock growth, create jobs, and deepen Ghana’s industrial capacity,” she said, expressing optimism about a successful syndication process and financial close.
Xu Ninquan, Founder and Chairman of Sentuo Group, reaffirmed the company’s dedication to long-term investment and development in Ghana. He indicated that the Group looks forward to deepening collaboration with Ecobank and other stakeholders while pursuing opportunities that generate both economic and social value.
The expansion of the Sentuo Oil Refinery is expected to enhance domestic petroleum processing capacity, support industrialization efforts, and contribute significantly to Ghana’s broader economic development agenda.
