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African Development Bank Vice President witnesses first-hand life-changing impacts of Africa-focused agribusiness giant

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Quaynor

“This glimpse into ETG’s operations was deeply insightful,” says Vice President Quaynor after trip to company’s Southern Africa operations

HARARE, Zimbabwe, August 3, 2023/APO Group/ — 

African Development Bank Group (www.AfDB.org) Vice President Solomon Quaynor has concluded a tour of Export Trade Group (ETG)’s southern Africa operations, signalling the potential for stronger partnership with the agribusiness giant to boost livelihoods on the continent.

Mr Quaynor, responsible for Private Sector, Infrastructure and Industrialisation, and four others from the Bank, visited ETG’s operations in Mozambique, Malawi, Zambia and Zimbabwe last week, where they saw first-hand the impact of the firm’s diverse agribusiness value chains and trade, supported by massive human capital and assets, including large warehouses and industrial machinery.

The Bank’s team included Richard Ofori-Mante, Acting Director of Agricultural Finance and Rural Development; Damian Ihedioha, Division Manager for Agribusiness; Bleming Nekati, Chief Trade Finance Officer; and Patrick Mabuza, Principal Research Economist. They were joined by ETG’s Joint CEO, Birju Patel and the Group Chief Treasury Officer, Paul Van Spaendonk.

Quaynor described the trip as “a development banker’s dream”. “This has been a deeply insightful trip to Export Trading Group’s integrated agro-industrialization operations in Mozambique, Malawi, Zambia and Zimbabwe. With a presence in over 30 countries, this glimpse into ETG’s operations was a development banker’s dream,” he said.

During the four-day trip, the Bank team visited ETG’s fertilizer terminal, an inland container depot, fertilizer processing and blending plants, soya vegetable oil refineries, giant warehouses, some of which were filled with tonnes of grains, collection depots, plastic and candle factories, cashew processing plant and a textile factory.

Quaynor’s team also interacted with farmer groups, including several women, agribusiness cooperatives and employees of ETG. The meetings provided useful insight into the scale and diversity of the company’s activities in Southern Africa. Quaynor also used the opportunity to affirm the African Development Bank’s commitment to help boost food production in Africa and foster inclusive development by investing in proven agri-businesses such as ETG.

He noted that the company’s operations in Africa go beyond economic growth. “They strive to industrialise Africa, develop smallholder farmers, empower women, create jobs, engage with communities, achieve sustainability and develop value chains,” Quaynor said.

The Vice President said he was impressed with the Group’s versatility in managing its diverse portfolio successfully amid persistent local and global headwinds. He noted that they are an innovative agro-industrialist, agro-infrastructure and financially hedged global company with core operations in Africa.

The meetings provided useful insight into the scale and diversity of the company’s activities in Southern Africa

“We believe that ETG is a viable company that is committed to building a brighter future for Africans with gender equality, livelihood opportunities, self-sufficiency, community well-being, environmental stewardship, and collaboration from the pillars of inclusive and sustainable development in Africa. We are proud to be strategic partners with ETG on this remarkable growth story,” Quaynor said.

ETG, a global conglomerate with operations across multiple sectors, is present in 48 countries across five regions, including 30 African countries, where it runs more than 90 industrial plants and around 350 gigantic warehouses. It has a diverse portfolio spanning agriculture, logistics, infrastructure, agro-food processing, energy, minerals and supply chain optimisation.

The company has generated massive employment, including for youth and women. South Africa and Zambia are key countries for both origination and destination, with West Africa forming a key source of cocoa, sesame, and cashew and East Africa a key origin for pulses, sesame, coffee and edible nuts.

ETG CEO Patel underscored the impact of the partnership with the African Development Bank over the last eight years and stressed the Group’s commitment to continue working together to improve livelihoods across Africa, “It is always exciting to cultivate partnerships with like-minded organisations that share our unwavering passion for the continent and its people”.

“Our steadfast dedication to enhancing livelihoods through facilitation of trade and market linkages, infrastructure development, agricultural support encompassing yield-enhancing inputs, agronomy services, and sustainable farming practices training, as well as strategic social investments, remains resolute and unyielding. We look forward to strengthening our relationship with the African Development Bank and creating a positive impact for all our stakeholders.”

The Bank and ETG recently signed a $150 million trade and agri-finance package. It comprises a $60 million facility to enhance the company’s export functions, a $60 million agriculture  value-chain programme to boost production by offering top-notch farming tools and expert guidance to farmers in 10 targeted African nations, and a $30 million co-financing from the Africa Growing Together Fund. Disbursement will be concluded before the end of August 2023.

In 2016, the Bank provided a $100 million corporate loan with a seven-year tenor to finance ETG’s capital expenditure investment programme covering fertiliser facilities, processing plants, and multi-commodity warehouses across Africa. This was followed by an additional $100 million Soft Commodity Finance Facility to support the firm’s short-term import and export working capital.

These facilities supported ETG’s operations in Benin, Burkina Faso, Ghana, Kenya, Malawi, Tanzania, Zambia, and Zimbabwe, creating over 6,710 jobs (including 1,290 for women) and significantly contributing to tax revenues across the continent. 

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Business

SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

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Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

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South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

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Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

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Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

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Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

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