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Africa Finance Corporation (AFC) Unveils Strategic Partnerships to Boost Africa’s Mining Sector

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AFC

Since 2014, AFC has invested over US$1billion in Africa’s mining of precious metals and critical minerals across several countries, and the latest partnerships will further strengthen the sector by driving significant capital flow into the continent

CAPE TOWN, South Africa, February 16, 2024/APO Group/ — 

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading instrumental infrastructure solutions provider, has announced several strategic partnerships on the sidelines of the recently concluded 2024 Mining Indaba conference in Cape Town to boost Africa’s mining sector, ushering the continent into a new era of growth and prosperity.

Since 2014, AFC has invested over US$1billion in Africa’s mining of precious metals and critical minerals across several countries, and the latest partnerships will further strengthen the sector by driving significant capital flow into the continent.

Gécamines

AFC signed an expression of interest (EOI) with Gécamines, the largest mining company in the Democratic Republic of Congo, to develop certain assets in the mining sector in DRC, including critical minerals. The collaboration will also focus on several initiatives for near-term co-financing of mining and infrastructure related projects for execution by the end of Q2 2024.

FG Gold

AFC announced the successful closure of a US$55 million mezzanine debt facility for FG Gold Limited, facilitating commencement of construction for the Baomahun Gold Project in Sierra Leone. The project represents a significant milestone as it is poised to become Sierra Leone’s inaugural large-scale commercial gold mine. Upon completion, it is projected to contribute approximately 10% to Sierra Leone’s GDP and generate 900 direct and indirect job opportunities within the country.

This financing builds upon AFC’s previous investment of US$45 million in 2022, which played a pivotal role in the extensive development of the project, culminating in the completion of its definitive feasibility study.

Thor Explorations Ltd

While over 30% of the world’s minerals are in Africa, less than 5% of global development funding is invested in African mining projects

Last year, Thor Explorations Ltd, through its fully owned subsidiary Newstar Minerals Ltd, obtained rights to explore over 600 square kilometers in Nigeria’s West Oyo, Kwara, and Ekiti lithium project areas, highlighting the West Oyo site as home to the nation’s most substantial lithium pegmatite occurrences. AFC has signed an EOI with Thor Exploration for the development of this project, marking the Corporation’s commitment to supporting the establishment of Nigeria’s first large-scale lithium mine. This initiative plays a pivotal role in advancing global energy transition objectives, solidifying Nigeria’s position as a key enabler of renewable energy. AFC is the largest investor in Thor Explorations, investing US$86 million towards the Segilola Gold Mine, Nigeria’s first commercial scale gold mine.

Giyani Metals

AFC signed an EOI with Giyani Metals for the financing of a high purity manganese (HPM) mine and plant in Botswana – a rare venture in Africa. HPM is a critical mineral for batteries used by electric vehicles and is central to the overall transition towards a more environmentally friendly global economy. In addition to job creation, Botswana will benefit through diversification in an economy that has largely been dependent on income from diamond exports.

Nyanza Light Metals

AFC announced the launch of the syndication process and executed the senior debt term sheet for Nyanza’s 80,000 tonnes per annum (TPA) TiO2 pigment plant in Richard’s Bay Industrial Development Zone. Valued at US$780 million, this sulphate based TiO2 pigment plant will stand as the first and only one of its kind in Africa. The launching of the syndication process follows the successful completion of the project development stage, which AFC co-financed with a US$3 million Project Development Facility.

The plant is strategically positioned to add value to the region’s abundant titanium ore, historically exported without any value addition. AFC serves as a co-developer and co-Mandated Lead Arranger (MLA) alongside Afreximbank, underlining the Corporation’s commitment to advance transformative projects in the region.

Wood Mackenzie Study

In October 2023, AFC and Solid Mineral Development Fund (SMDF) commissioned Wood Mackenzie to conduct a comprehensive study to assess the feasibility of establishing a midstream processing plant in Nigeria. Wood Mackenzie’s study focused on the viability of processing a number of critical minerals including lithium, cobalt, and manganese. The insight and outcome of the study, revealed at the Mining Indaba in Cape Town, showed that establishing a processing plant in Nigeria will significantly bolster the country’s FX generation capacity through significant annual trade volumes and create thousands of local jobs.

Speaking at the signing, AFC’s Chief Investment Officer Sameh Shenouda said: “While over 30% of the world’s minerals are in Africa, less than 5% of global development funding is invested in African mining projects. Recognizing the significant funding gap in the African mining sector, AFC is committed to pragmatic solutions and supporting the sector’s growth, having invested about $1 billion across metals and critical minerals in several African countries. Through these strong partnerships with like-minded stakeholders, our goal is to open up new markets, promote a greener economy, and contribute to the overall development of African countries.”

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

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Sierra Leone Set to Showcase Offshore Ambitions with Petroleum Directorate of Sierra Leone (PDSL) Joining African Energy Week (AEW) 2026 as Strategic Partner

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African Energy Chamber

Sierra Leone is advancing offshore exploration, preparing a new licensing round and finalizing the formation of a new national oil company ahead of its Strategic Partnership with AEW 2026

CAPE TOWN, South Africa, March 26, 2026/APO Group/ –The Petroleum Directorate of Sierra Leone (PDSL) has joined African Energy Week (AEW) 2026 – scheduled to take place in Cape Town from October 12–16 – as a Strategic Partner. The Directorate will be positioned to leverage the event to highlight its open acreage, competitive fiscal framework and upstream integration plans to international investors, signaling Sierra Leone’s emergence as a frontier exploration hotspot in the MSGBC basin and across the wider Gulf of Guinea.

 

Italian energy major Eni and other international players have engaged in detailed geological studies across Sierra Leone’s offshore basin, underscoring rising confidence in the country’s hydrocarbon potential. Backed by enhanced 3D seismic reprocessing and basin-wide prospectivity studies, the PDSL is accelerating data-led de-risking efforts to unlock prospects such as Vega and attract fresh upstream capital.

 

A central focus for investors is the anticipated resumption of offshore drilling in 2026 – the country’s first campaign in nearly a decade. Following the conclusion of its fifth licensing round, which offered 56 offshore blocks, Sierra Leone is preparing to drill new wells targeting an estimated multi-billion-barrel resource base, supported by improved subsurface imaging and strengthened regulatory oversight.

 

PDSL’s participation at AEW 2026 reflects Sierra Leone’s serious commitment to unlocking its offshore potential through transparency, strong fiscal terms and data-driven de-risking

Sierra Leone is also in the final stages of establishing its first state-owned national oil company, which will hold a mandatory 10% carried interest in all exploration licenses. The government is targeting an overall 25–30% participation in projects, balancing national value capture with competitive terms for international operators.

 

Downstream integration is also gathering pace, with the 105–126 MW Nant gas-to-power plant in Freetown, developed by Anergi Group and TCQ Power, expected to nearly double national generation capacity when it comes online in 2027. In parallel, PDSL is spearheading plans for Sierra Leone’s first refinery to reduce reliance on roughly 15,000 barrels per day of imported refined products.

 

“PDSL’s participation at AEW 2026 reflects Sierra Leone’s serious commitment to unlocking its offshore potential through transparency, strong fiscal terms and data-driven de-risking,” said NJ Ayuk, Executive Chairman, African Energy Chamber, adding, “Their strategic vision aligns with Africa’s broader push for energy security, industrialization and investor partnership.”

 

With drilling set to resume, a national oil company nearing launch and integrated gas-to-power and refining projects advancing, Sierra Leone is entering a defining phase. At AEW 2026, PDSL is expected to present a clear message: the basin is open, the data is ready, and the opportunity is real.

Distributed by APO Group on behalf of African Energy Chamber.

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Critical Mineral Projects to Watch Ahead of Invest in African Energy (IAE) 2026

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Energy Capital

The Uganda Chamber of Energy and Minerals, with both its CEO and governing council chairperson confirmed for Paris, will serve as the primary interface for investors seeking access to Uganda’s licensing framework and project pipeline

CAPE TOWN, South Africa, March 26, 2026/APO Group/ –Governments from West, Central and Southern Africa, with delegations confirmed for the Invest in African Energy (IAE) Forum in Paris next month, are each advancing critical mineral projects that span processing deals, development-stage assets and frontier exploration plays, giving investors a range of entry points across the minerals value chain.

Nigeria – Alumina Refinery & Lithium Processing

Nigeria struck a $1.3 billion deal with the Africa Finance Corporation in early March covering three components: construction of a one-million-ton-per-year alumina refinery, a national geoscience mapping program, and a joint investment vehicle to accelerate exploration and production across priority leases. Projected at 95% utilization over 20 years, the refinery is expected to add $1.2 billion to GDP annually and generate approximately $8 billion in foreign exchange earnings over its lifespan.

Separately, a $600 million lithium processing plant in Nasarawa State is at the commissioning stage, backed by ongoing mapping of lithium-bearing pegmatite belts across Kwara, Ekiti and Kaduna states. New mining licenses now require a local processing commitment covering at least 30% of output before export, a condition that directly shapes the investment structures available to foreign partners. Nigeria’s energy minister is among the confirmed delegations at IAE in Paris.

Zambia – Copperbelt Expansion & Cobalt Refinery

 

Copper output in Zambia is on course to clear one million tons in 2026, supported by First Quantum Minerals’ completed $1.25 billion S3 plant expansion at Kansanshi and Barrick Gold’s $2 billion program to double output at Lumwana by 2028. Several additional projects, including Sinomine’s Kitumba Mine and KoBold Metals’ Mingomba deposit, are also coming online this year, making Zambia one of the few places globally adding significant incremental copper supply in the near term.

Africa’s first cobalt sulfate refinery is targeting commissioning in Zambia in 2026, adding downstream processing capacity alongside the copper ramp-up. The Lobito Corridor, backed by a $553 million US Development Finance Corporation loan for Angola’s Benguela rail link, reduces export costs across the Copperbelt and improves project bankability for both mines and processing facilities seeking long-term offtake commitments.

Senegal – Falémé Integrated Iron Project

Senegal’s Falémé iron district in the Kédougou region holds over 600 million tons of probable reserves, including oxide ore at around 59% iron content and primary magnetite at roughly 45% Fe. The government launched the Falémé Integrated Iron Project as a phased program targeting 15 to 25 million tons per year at peak output, with national iron ore company MIFERSO conducting ongoing reserve verification.

The mineral export port at Bargny is operational and rail rehabilitation linking Kédougou to the coast is progressing under the Emerging Senegal Plan. The project is actively seeking a technical development partner. With port and rail infrastructure advancing independent of any single mining operator, Falémé carries lower logistics risk than comparable iron ore projects requiring greenfield corridor construction, which affects how financiers assess project bankability and timelines to first revenue.

Equatorial Guinea – Rio Muni Mineral Exploration

Equatorial Guinea’s Rio Muni mainland offers early-stage exposure to gold, bauxite, base metals, coltan and iron ore across largely underexplored onshore territory. The Ministry of Mines and Hydrocarbons has been opening the sector since its first public tender in 2019, with exploration contracts now in place and state geological mapping advancing in partnership with Rosgeo. Minister Antonio Oburu Ondo will address investors at IAE, with the minerals program expected to feature in bilateral meetings.

Uganda – Rare Earths & Minerals Sector Opening

Uganda holds rare earth deposits in ionic adsorption clay formations — a deposit type the IEA has flagged for low capital intensity relative to hard rock alternatives — alongside gold mineralization across greenstone belts in the West Nile, Karamoja and Mubende regions. The Uganda Chamber of Energy and Minerals, with both its CEO and governing council chairperson confirmed for Paris, will serve as the primary interface for investors seeking access to Uganda’s licensing framework and project pipeline, at the same time as the country’s Tilenga and Kingfisher oil developments move toward first oil.

Distributed by APO Group on behalf of Energy Capital & Power.

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APO Group Takes Gold at 2026 SABRE Awards – Second Consecutive Win Across Different Clients and Sectors

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Recognition spans technology, global sport, and culture, reflecting APO Group’s cross-sector communications performance across Africa

JOHANNESBURG, South Africa, March 26, 2026/APO Group/ –APO Group (www.APO-opa.com), the pan-African communications consultancy integrating advisory, execution, and proprietary news distribution, has won gold in the Northern Africa category at the 2026 Africa SABRE Awards for its campaign, GITEX Africa Morocco 2025: A Media-Fuelled Journey for Tech Excellence.

 

Delivered for GITEX Africa, the campaign generated more than 3,600 media clippings across African and global outlets, positioning the event as the continent’s leading technology and startup platform, while reinforcing Morocco’s emerging status as a regional technology hub.

Being honoured at the SABRE Awards is particularly meaningful because it reflects the impact of communication designed specifically for how African markets work

APO Group was a finalist in two additional categories for campaigns delivered for international organisations operating across Africa:

  • The Africa Flag 2025 Tournament: Raising the Game in Cairo – National Football League (Media Relations category)
  • Broadcasting Greatness: Elevating African Hoops and Culture at BAL 2025 – Basketball Africa League (BAL) (Media, Arts & Entertainment category)

The SABRE Awards recognise excellence in branding, reputation management, and engagement across the global communications industry. This latest accolade adds to APO Group’s growing record at these prestigious awards, following its win in 2025 for a campaign delivered for Canon Central and North Africa, as well as multiple finalist placements for campaigns supporting leading institutions such as GITEX Africa, Africa’s Business Heroes, and the Global Africa Business Initiative.

 

“Being honoured at the SABRE Awards is particularly meaningful because it reflects the impact of communication designed specifically for how African markets work,” said Bas Wijne, Chief Executive Officer at APO Group. “Successful pan-African campaigns combine strategic planning and strong local execution, together with a clear understanding of how different markets, media environments, and audiences connect with a story. It’s about designing communications that deliver measurable outcomes and help organisations engage effectively and confidently across Africa’s diverse media landscape.”

In addition to its SABRE Awards success, APO Group has received multiple major industry honours over the past year, including Gold and Bronze at the Davos Communications Awards for excellence in strategic communications and campaign execution. The company was also named Africa’s Leading PR Agency – 2025 by Brands Review Magazine and Best Public Relations & Media Consultancy Agency of the Year – 2025 by World Business Outlook.Operating across 54 African countries, APO Group provides communications advisory services, public relations, and media distribution through its proprietary newswire, Africa Newsroom, which places content on more than 250 Africa-focused news platforms worldwide.

Distributed by APO Group on behalf of APO Group.

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