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Afreximbank Annual Meetings record project preparation deals expected to unlock about US$ 1.0 billion in investments

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Afreximbank

AAM2025 took place from 25 to 28 June and attracted an estimated 8,000 participants, including presidents, prime ministers, ministers and business leaders, from across Africa, the Caribbean and beyond

ABUJA, Nigeria, July 21, 2025/APO Group/ –The 32nd Annual Meetings of African Export-Import Bank (Afreximbank) (www.Afreximbank.com), also known as AAM2025, witnessed a flurry of deal signings with four project preparation transactions signed between the Bank and various entities that are expected to unlock investments valued at about US$ 1.0 billion.

In an agreement signed by Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, for Afreximbank, and Mrs. Temwani Simwaka, CEO, for NBS Bank Plc (NBS), Malawi, the two institutions executed a Joint Project Preparation Facility Framework Agreement under which they will pool resources to provide early project preparatory financing to progress projects in Malawi from pre-feasibility stage to bankability in a timely manner.

As set out in the agreement, Afreximbank and NBS will support public and private sector investors by availing financing and technical support services to de-risk projects in priority sectors, including energy, transport and logistics, logistical platforms (such as special economic zones and industrial parks), manufacturing, agro-processing, hospitality and tourism, extractives, solid minerals, and services (such as ICT, healthcare, and creative economy). Embedded in the framework agreement is a capacity building programme that will empower NBS staff to undertake project preparation activities in the medium term.

Afreximbank and NBS expect to bring onstream investments of about US$ 300 million in Malawi in the near term.

In another transaction, Afreximbank signed a US$ 4.4-million Project Preparation Facility Agreement in favour of Med Aditus Pharmaceutical Kenya Limited. The facility will be deployed to finance the preparation of feasibility and bankability studies towards the development of a state-of-the-art fill and finish pharmaceutical manufacturing plant, with a production capacity of at least two billion tablets and capsules per annum, located in Kibos, Kisumu County, Kenya.

The project will improve access to quality, affordable life-saving medicines across the Great Lakes region, contributing to better health outcomes in a region that contends with heavy loads of infectious and other diseases. The project will also facilitate medical and manufacturing blockchain technology transfer to Africa, supporting the long-term growth and strengthening the wider region’s health sector. The project preparation facility will bring onstream assets of about US$ 40 million.

Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, signed the agreement on behalf of Afreximbank while Dr. Dhiren Thakker, Founder and CEO of Med Aditus Pharma, signed for his company.

Afreximbank also signed a Heads of Terms agreement for a US$4.4-million project preparation facility in favour of Green Hybrid Power Private Limited. The facility will be deployed towards the preparation of bankability and feasibility studies and procurement of transaction advisors for a 1-Gigawatt (GW) hybrid floating solar photovoltaic power system on Lake Kariba, Zimbabwe.

The project, to be implemented in two phases, includes a pilot phase targeting a generation capacity of 500 MW to be sold wholly to the Intensive Energy Users Group, a consortium of blue-chip industrial and mining energy users in Zimbabwe, under a “take-or-pay” 20-year power purchase agreement with a cost-reflective tariff. The project is expected to supply affordable and reliable power that will support value-addition and beneficiation of Zimbabwe’s minerals, thereby boosting the country’s foreign exchange earnings.

The project preparation facility will unlock an investment estimated at US$ 350 million.

Signing the agreement were Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, on behalf of Afreximbank, and Mr. Eddie Cross, Chairman, for Green Hybrid Power Private Limited.

Afreximbank, in addition, signed a Project Preparation Facility Heads of Terms Agreement of US$ 4.0 million in favour of Proton Energy Limited, a Nigerian independent power producer. The facility will be deployed towards financing the preparation of feasibility studies and procurement of transaction advisory services for the development of a grid-connected gas-fired power plant with a nameplate capacity of 500 MW in Sapele, Nigeria. The project will commence with an initial generation capacity of 150 MW.

The project will evacuate the electricity generated primarily to Eko Electricity Distribution Company under a 20-year power purchase agreement with a cost-reflective tariff.

The facility is expected to bring on stream assets estimated at US$ 300 million.

Signing the agreement were Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, on behalf of Afreximbank, and Mr. Oti Ikomi, Executive Vice Chairman and CEO, for Proton Energy Limited.

AAM2025 took place from 25 to 28 June and attracted an estimated 8,000 participants, including presidents, prime ministers, ministers and business leaders, from across Africa, the Caribbean and beyond. It ended with the Annual General Meeting of Shareholders where Dr. George Elombi was appointed the next President of the Bank who succeeds Prof. Benedict Oramah whose tenure is ending after two five-year terms in the position.

Distributed by APO Group on behalf of Afreximbank.

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TotalEnergies Expands Angola Offshore Strategy as Martin Deffontaines Returns to Angola Oil & Gas (AOG) 2026

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May 22, 2026

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TotalEnergies

TotalEnergies is spearheading a diverse investment approach in Angola, targeting frontier opportunities while scaling brownfield production

LUANDA, Angola, May 21, 2026/APO Group/ —

Martin Deffontaines, Country Manager for Angola at energy major TotalEnergies has been confirmed as a speaker at the Angola Oil & Gas (AOG) Conference and Exhibition – taking place September 9­­–10 with a pre-conference day on September 8. His participation comes at a pivotal time for the company as it expands its offshore strategy and is expected to provide insight into how one of the industry’s leading operators is positioning itself for Angola’s next phase of offshore growth.

TotalEnergies is driving a multi-faceted exploration and production strategy in Angola, balancing brownfield optimization with frontier exploration and large-scale deepwater developments. As one of the country’s biggest oil producers, the company’s recent investments signal a long-term commitment to the market as well as its broader ambitions to support Angola’s goals of sustaining production above one million barrels per day (bpd).

At the core of this strategy is unlocking additional value from producing assets. Just this month, the company signed a Principles Agreement with the National Oil, Gas & Biofuels Agency (ANPG) to extend its license for Block 32 to 2043. The agreement establishes the general terms for the continuous development of the block, while outlining the possible application of the Incremental Production Decree to bolster production. Block 32 is one of the country’s biggest producing assets, covering six fields and featuring the Kaombo project.

Beyond operational assets, TotalEnergies is pursuing new frontiers in Angola. The company signed an agreement in March 2026 with the ANPG and ExxonMobil for the allocation of four blocks in the Benguela and Namibe Basins – namely 40, 41, 42 and 58. The agreement lays the foundation for the signing of the respective contracts for the blocks. This follows another agreement signed in 2025 between TotalEnergies, ExxonMobil and the ANPG for the study and evaluation of the Free Areas of Blocks 17/06 and 32/21 – two of the country’s longest-producing assets. The agreement aims to identify new leads across the blocks, supporting future production growth.

The company’s ongoing project portfolio further highlights the scale of its ambitions in Angola. Central to this is the Kaminho deepwater project – the first major deepwater development in the Kwanza Basin. Representing a $6 billion investment, the project is expected to produce approximately 70,000 bpd through an FPSO designed with lower-emission technologies. FID was reached in 2024, with production on track for 2028. Kaminho builds on TotalEnergies recent project momentum, which saw two offshore projects start operations in 2025. The Begonia and CLOV Phase 3 developments added 60,000 bpd to the company’s Angolan portfolio, cementing its position as a major operator.

Deffontaines’ participation at AOG 2026 comes as these themes move to the forefront of Angola’s oil and gas agenda. As one of the country’s largest international investors, TotalEnergies continues to shape discussions around production sustainability, exploration strategy and offshore project economics. His presence at the event underscores both the scale of the opportunity and the growing international confidence in Angola’s deepwater market.

 

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

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China, ASEAN launch business and trade information platform in South China’s Nanning

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May 22, 2026

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China

NANNING, CHINA – Media OutReach Newswire – 21 May 2026 – The China-ASEAN Business and Trade Information Platform was officially launched in Nanning, Guangxi Zhuang Autonomous Region on Tuesday.

The platform offers comprehensive information services and an international communication platform to support economic and trade cooperation between China and ASEAN countries.

Built and operated by China News Network, the official website of China News Service, the platform serves as ASEAN trade agencies, industry associations, overseas Chinese communities, and cross-border enterprises, providing one-stop trade information services.

China News Service will leverage its strengths to build the China-ASEAN Business and Trade Information Platform into an influential and dynamic communication channel that promotes information sharing and provides services, to facilitate trade and people-to-people exchanges between China and ASEAN countries.

Currently, a trade information network between China and ASEAN countries has been built, with key content covering policy explanations, market conditions, investment promotion, business cooperation, and industry analysis, to comprehensively support cross-border trade activities.

Prior to the platform’s launch, representatives from government departments, media outlets, research institutes, and universities in China and multiple ASEAN countries participated in discussions on economic and trade information exchange between China and ASEAN countries, as well as the development of the platform.

Consular officials from ASEAN member states including Cambodia, Myanmar, and Vietnam, stationed in Nanning expressed their hopes for enhancing China-ASEAN economic and trade connectivity as well as people-to-people ties through information sharing.

Against the backdrop of the signing of the China-ASEAN Free Trade Area 3.0 Upgrade Protocol, the platform serves as an information bridge for expanding cooperation, promoting trade, enhancing industrial upgrade, and achieving mutual benefits and win-win outcomes, they said.

They hope that the platform will play a greater role in trade facilitation and logistics services, empowering micro, small and medium-sized enterprises (MSMEs), and investment policies and regulatory measures, while helping share cooperation stories between China and ASEAN countries.

 

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Business

Hainan Economic and Trade Delegation Visits the U.S., Focusing on Trade and Investment Cooperation

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May 22, 2026

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Hainan

SAN FRANCISCO, USA – Media OutReach Newswire – 21 May 2026 – From May 11 to 14, a Hainan economic and trade delegation, jointly organized by the China Council for the Promotion of International Trade Hainan Provincial Committee (CCPIT Hainan)and the Hainan Youth Federation, visited the United States to conduct business exchange activities aimed at accelerating bilateral trade and investment between Hainan and the U.S. The delegation, comprising over 20 members, included heads of enterprises and institutions from sectors such as international trade, port logistics, digital technology, marine environmental protection, legal services, and modern agriculture.

At the China (Hainan Free Trade Port)–U.S. (San Francisco) Economic and Trade Exchange Meeting, the delegation highlighted the policy advantages and innovative achievements of the Hainan Free Trade Port to American enterprises. The two sides engaged in extensive exchanges in areas such as international trade, modern services, high-tech industries, and cross-border investment.

The head of the delegation noted that since the Hainan Free Trade Port began island-wide special customs operations on December 18, 2025, policy dividends have been steadily unleashed. The customs supervision model of “freer access at the first line, regulated access at the second line” has been fully implemented. The number of zero-tariff commodity items has been expanded to 6,631. Additionally, the policy of exempting tariffs on processed goods with a value-added rate exceeding 30% has created new cost advantages for cooperation between Chinese and U.S. enterprises.

Sean Randolph, a representative of the Bay Area Council, stated that direct exchanges between companies are essential for establishing long-term cooperative relationships. He noted that the San Francisco Bay Area, as a key gateway for Pacific trade, has maintained long-standing economic ties with Asia, particularly China. As the Hainan Free Trade Port continues to develop, sectors such as services, life sciences, and tourism are creating new opportunities for collaboration with California-based businesses.

During the visit, the delegation also participated in the 2026 China-California Economic and Trade Forum and held business negotiations with U.S. companies. The CCPIT Hainan signed a memorandum of cooperation with the Sino America Business Information Center to support the establishment of a platform for bilateral economic and trade cooperation and exchanges.

In addition, the delegation visited institutions such as the American-Chinese CEO Society, the Huamei Business Information Center, the Silicon Valley Open Intelligent Culture Foundation, and Sidley Austin LLP, engaging in in-depth exchanges on cross-border investment , specialized industry development, and commercial legal matters.

In June 2020, China unveiled a master plan to build the whole of Hainan Island into a globally influential and high-level free trade port by the middle of the century. The initiative reached a major milestone in December last year with the launch of island-wide special customs operations, which marked the completion of the first key step toward that goal.

The move has turned the island into a special customs supervision zone, allowing freer trade between Hainan and areas outside China’s customs borders, while enforcing standard customs controls for goods moving from Hainan to the mainland.

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