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Adesina reaffirms commitment to Africa’s development as his presidency of the African Development Bank nears end

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Adesina

Adesina urged global financial institutions to partner more strategically with the African Development Bank and other multilateral development banks, to scale up capital flows to Africa

Our ambition is threefold: free up capital, crowd in investors and amplify development impact

LAGOS, Nigeria, August 5, 2025/APO Group/ –Dr Akinwumi Adesina says his passion to mobilize global capital for Africa’s development will continue way beyond his presidency of the African Development Bank (www.AfDB.org), which ends on 1st September 2025.

In a keynote speech titled “Tilting Global Capital for Unlocking Investment Opportunities in Africa”, delivered at the Standard Chartered Africa Summit on July 31, in Lagos, Adesina said, “Together, let us tilt global capital to unlock Africa’s assets. As I step into a new future, you can be sure this will be my focus! For I will always have Africa in my heart and in my sight.”

The Standard Chartered Africa Summit, with the theme, “Africa to the Globe: Innovation, Resilience, and Growth”, brought together corporate leaders, policymakers, investors and other stakeholders. Attendees included Africa’s richest man, Aliko Dangote; Nigeria’s Minister of Trade and Investment, Dr. Jumoke Oduwole; Hakeem Belo-Osagie, Chairman, FSDH Group and Senior Lecturer at Harvard Business School; and award-winning author, Chimamanda Adichie.

Adesina kicked off by alluding to his signature optimism about Africa’s prospects. “When I was approached to consider delivering the keynote speech, I did not hesitate. How can someone known as ‘Africa’s Optimist in Chief’ not accept to speak on Africa!”, he said.

Highlighting the African Development Bank’s focus on bold financial innovation in the last decade, Adesina declared, “The African Development Bank is not just waiting for more capital, we are innovating to do more with the capital we have. Through our balance sheet optimization initiatives, we are stretching every dollar of risk capital further. Our ambition is threefold: free up capital, crowd in investors and amplify development impact.”

He outlined several ambitious and innovative financing solutions pioneered by the African Development Bank, supported by its AAA rating which it has maintained over the last decade:

  • Over $102 billion in low-cost financing to Africa since 2015
  • Capital raise from $93 billion in 2015 to $318 billion in 2024, the highest in the Bank’s sixty-year history
  • Spearheading, in partnership with the Inter-American Development, the rechanneling of the IMF’s Special Drawing Rights (SDRs) to multilateral development banks—a move that will of the rechanneled SDRs as hybrid capital, which can be leveraged by 4-8 times.
  • The Africa Investment Forum, launched by the Bank in collaboration with strategic partners, has mobilized over $225 billion in investment interest across infrastructure, energy, agribusiness, manufacturing and other critical sectors, since 2018
  • The biggest social bond issuance by multilateral development banks, amounting to $14 billion in the past eight years.
  • $10 billion of long-term global benchmark bonds issued in 2025 alone to finance projects across Africa
  • The first-ever synthetic securitization of a non-sovereign portfolio by a multilateral development bank, involving the transfer of mezzanine risk of a $1 billion portfolio of private sector loans.
  • The first-ever private sector hybrid capital transaction by a multilateral development bank, valued at $750 million—with over 275 investors participating with a book order of $5.1 billion, making it the largest ever book order achieved by the African Development Bank.
  • A Room to Run Sovereign offering that created an estimated $2 billion in new sovereign lending headroom
  • 16 partial credit and partial risk guarantees valued at close to $3 billion, mobilizing $ 5 billion for the continent
  • A $250 million partial credit guarantee that allowed Egypt to raise the first ever Panda Bond by an African country on the Chinese capital market, valued at $500 million.

Adesina praised Standard Chartered Bank’s successful partnership with the African Development Bank’s successful partnership, which notably delivered a partial credit guarantee for Côte d’Ivoire in 2023 — a deal that won ‘Sovereign Syndicated Loan Deal of the Year’ at the 2025 Bonds, Loans & ESG Capital Markets Africa Awards in Cape Town, South Africa, in April.

“The Standard Chartered Bank participated as the sole lender in the 2023 Cote d’Ivoire’s sustainable loan partial credit guarantee transaction. The African Development Bank was able to unlock €533 million from the Standard Chartered Bank in support of the country’s financing needs.”

He also congratulated Standard Chartered on being named Best Transaction Bank at the Asset Triple A Treasurise Awards in Hong Kong. “Your record breaking 127 accolades reflects an exceptionally strong track record of excellence in banking and finance, globally.”

Adesina urged global financial institutions to partner more strategically with the African Development Bank and other multilateral development banks, to scale up capital flows to Africa.

He called for greater use of risk mitigation and credit enhancement instruments, mainstreaming of best practices in Environmental, Social and Governance (ESG), and increased collaboration to scale up local currency financing solutions.

Adesina’s delegation included the Bank Group’s Vice President for Private Sector, Infrastructure and Industrialization Solomon Quaynor, and the Director General of the Nigeria Country Department, Dr. Abdul Kamara.

The African Development Bank’s current active portfolio in Nigeria is the largest in the Bank, valued at $5.1 billion and comprising 52 operations, equally distributed between the public and private sectors, with 26 projects each. National operations account for 84% of the portfolio, while multinational operations constitute the balance of 16%.

The Bank Group is set to establish a Youth Entrepreneurship Investment Bank in Nigeria, as part of a pan-African portfolio designed to create and finance entrepreneurship opportunities for young Africans.

The Bank is also rolling out Phase 1 of its Special Agro-Industrial Processing Zones across 8 States, including the Federal Capital Territory. Construction has already begun in four States of Kaduna, Cross River, Oyo and Ogun. Phase 2, which will cover the remaining 28 States, is scheduled to take off from September 2025.

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

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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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