Helios, Sojitz start collaborations in West African downstream businesses
Helios, the Africa-focused private investment firm, acting on behalf of funds it advises, and Sojitz Corporation announce the completion of the sale by Helios of a 25% interest in the holding company of Axxela, the largest private sector gas distributor in Nigeria, to Sojitz. Helios retains a 75% interest in the company.
This transaction marks Sojitz’s first significant equity investment in Africa, indicating its growth ambitions on the continent and serving as a blueprint for future collaboration in Africa between Helios and Sojitz across a range of sectors. As like-minded shareholders, Helios and Sojitz expect to accelerate further growth of Axxela’s business by leveraging Sojitz's expertise in developing gas and power infrastructure projects and providing lower-carbon energy solutions to industrial customers globally.
Axxela is a pioneering energy infrastructure company at the forefront of delivering cleaner, cheaper and more reliable energy to industrial customers across West Africa. Its operations support the utilization of Nigeria’s vast domestic gas resource to drive industrial growth while also facilitating fuel switching by industries to gas, reducing CO2, nitric oxide and sulfur oxide emissions, which enables the transition to a lower carbon economy. Axxela enabled its customers to reduce their CO2 emissions by 1.7 MMt between 2018—2020 by switching their energy supply from diesel or heavy fuel oil to gas and will expand such contribution to reduce CO2 emissions through the growth of its business.
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