Afreximbank to Raise $1.7B for Suiso Fertiliser Plant in South Africa

In a landmark step toward enhancing food security and promoting sustainable agriculture across Sub-Saharan Africa, the African Export-Import Bank (Afreximbank) has been appointed as the exclusive financial advisor for the $1.7 billion Suiso Project. This ambitious coal-to-fertiliser facility will be developed in Kriel, located in Mpumalanga Province, South Africa, and is poised to reshape the region’s agricultural and industrial landscape.

Through its Advisory and Capital Markets (ACMA) department, Afreximbank will structure and mobilise capital for the execution of this transformative project. The mandate reflects growing global confidence in the bank’s advisory capabilities, project finance expertise, and its commitment to supporting large-scale, high-impact industrial ventures across the continent.

A Game-Changer for Africa’s Fertiliser Sector

The Suiso Project will use cutting-edge air products gasification technology to convert fossil fuels into ammonia and a variety of fertiliser products. By establishing a large-scale production hub in South Africa, the project aims to:

• Reduce Africa’s dependency on imported fertilisers

• Strengthen regional food security

• Enhance the resilience and sustainability of agricultural systems

• Create jobs and drive economic growth in rural and industrial areas

At full capacity, the blue ammonia plant will produce:

• 2,200 tonnes per day (TPD) of ammonia

• 2,600 TPD of urea

• 1,600 TPD of Technical Ammonium Nitrate (TAN)

• Low-density Ammonium Nitrate using prilling technology

Any excess ammonia will be sold in bulk, contributing to regional trade and economic integration.

Innovation and Sustainability at the Core

Although the project uses coal gasification, it is designed to align with global goals for low-carbon industrialisation. The emphasis on “blue ammonia” reflects efforts to incorporate carbon capture and storage (CCS) into the production process, making it a more sustainable alternative to traditional fertiliser manufacturing.

Suiso’s long-term mission includes:

• Increasing fertiliser efficiency

• Reducing greenhouse gas emissions

• Promoting sustainable soil health and crop yield improvements

• Supporting climate-resilient farming practices

The plant’s design also integrates energy-efficient technologies and is expected to become a benchmark project for cleaner industrial operations in Africa.

Strategic Importance and Broader Impact

The Suiso Project is backed by a consortium of leading energy and industrial players, all of whom share a commitment to sustainable development, energy security, and agricultural transformation. The choice of Kriel, a town historically known for its coal mining activities, underscores a strategic shift toward repurposing fossil-fuel infrastructure for green industrial innovation.

With growing concerns over fertiliser affordability and availability in the wake of global supply chain disruptions, the Suiso Project is seen as a timely intervention that could:

• Stabilise regional fertiliser markets

• Lower input costs for farmers

• Increase agricultural productivity

• Improve national trade balances by replacing imports

Afreximbank’s Role in Shaping Africa’s Future

The bank’s appointment as financial advisor further solidifies Afreximbank’s standing as a catalyst for Africa’s industrial renaissance. Through ACMA, the bank will leverage its:

• Extensive capital networks

• Sectoral expertise in infrastructure and agro-industries

• Track record of closing complex deals across the continent

This mandate is aligned with Afreximbank’s broader mission to support projects that foster self-reliance, industrial development, and value-added production in Africa.

“This appointment is a reflection of the increasing recognition of Afreximbank’s capacity and commitment to supporting large-scale projects with the potential to drive industrialisation and economic development across Africa,” said a bank spokesperson.

As Suiso prepares to break ground on one of the largest fertiliser plants in Southern Africa, the project represents a bold step forward in industrial and agricultural transformation. With Afreximbank at the financial helm, the initiative is not only poised to strengthen regional food security but also to become a model for sustainable, innovation-driven industrialisation.

This partnership showcases what can be achieved when financial innovation meets industrial ambition, setting the stage for a new era of African-led solutions to the continent’s most pressing development challenges.