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Afreximbank Congratulates the Government and People of the Republic of Kenya and Dangote Group on Landmark Lamu Refinery Project

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The approximately US$16 billion refinery is planned to have capacity to process 700,000 barrels of crude oil per day and is expected to create approximately 60,000 jobs

CAIRO, Egypt, October 1, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) congratulates the Government and people of the Republic of Kenya, led by H.E. President Dr William Samoei Ruto, on the groundbreaking of the Dangote oil refinery in Lamu. The landmark investment has the potential to significantly expand Africa’s refining capacity, strengthen regional energy security and accelerate the continent’s transition from exporting raw materials to trading value-added products.

 




  

The approximately US$16 billion refinery is planned to have capacity to process 700,000 barrels of crude oil per day and is expected to create approximately 60,000 jobs. Its intended regional ownership and market reach underscore its potential as an East African industrial asset. The refinery is expected to process crude sourced from African producers, including Uganda, while supplying refined petroleum products to Kenya and the wider regional market.

The economic significance of establishing large-scale refining capacity is substantial. A project of this scale presents an opportunity to retain more value within Kenyan and African economies, deepen local industrial supply chains, generate employment and associated services, reduce exposure to imported refined products and create a new platform for regional exports.

The project also comes at a consequential moment for Africa’s energy security. Recent disruptions affecting the Strait of Hormuz and continuing instability around the Red Sea and Bab el-Mandeb have again demonstrated the vulnerability created when African economies depend heavily on distant supply chains for strategic commodities. Against this backdrop, expanding African refining capacity is critical to advancing industrialisation, Intra-African trade and economic resilience.

Dr George Elombi, President and Chairman of the Board of Directors of Afreximbank, said, “The significance of this investment extends well beyond the construction of a refinery. It demonstrates Africa’s capacity to conceive, finance and build major industrial assets that respond directly to the needs of our economies. By refining more of what we produce on the continent, we retain greater value from our natural resources, create jobs and strengthen the trade links between African economies.”

He continued, “Recent disruptions to global energy and shipping routes have reminded us of the cost of dependence. Africa has the capital, the enterprises and the markets to reduce that exposure. Investments such as this give us the productive capacity to shorten supply chains, conserve foreign exchange, strengthen regional energy security and build greater resilience into our economies.”

African enterprises such as Dangote Industries demonstrate what is possible when African ambition is matched by investment at scale

The Lamu refinery groundbreaking takes place amid a wider expansion of Kenya’s industrial and trade infrastructure, an agenda in which Afreximbank has become an important long-term partner to the Government of Kenya. In 2023, Afreximbank launched a US$3 billion Country Programme for Kenya to support priority public and private-sector projects. The programme encompasses industrial development and export manufacturing, climate adaptation and irrigation, trade infrastructure, support for small and medium-sized enterprises and initiatives designed to connect Kenyan businesses more effectively to regional and continental markets. It includes an US$800 million Kenya Climate Change Adaptation Facility supporting irrigation development and broader agricultural productivity.

In addition, working with the Government of Kenya and ARISE Integrated Industrial Platforms (Arise IIP), Afreximbank is supporting the development of the Dongo Kundu Integrated Industrial Park in Mombasa and the Naivasha Special Economic Zone II. Approximately US$1 billion has been earmarked for development of the two integrated industrial parks, which are expected to strengthen export manufacturing, attract domestic and international investment and enhance Kenya’s position as an industrial and logistics gateway into East and Central Africa. Government projections have associated the two developments with approximately 140,000 jobs once fully developed.

The Bank has also expanded its support for the Vipingo Special Economic Zone in Kilifi County. In 2025, Afreximbank and KCB Group announced an US$800 million financing framework, comprising US$500 million from Afreximbank and US$300 million from KCB, to support enterprises establishing operations in the zone. Afreximbank had already disbursed US$40 million towards development of the SEZ. The financing targets enterprises in manufacturing, agro-processing, logistics and other value-addition sectors.

Afreximbank also congratulates Mr Aliko Dangote, President and Chief Executive of Dangote Industries Limited, and the Dangote Group, for continuing to make large-scale commitments to Africa’s industrial development.

Afreximbank and Dangote Group have built a longstanding partnership focused on industrialisation, value addition and expanding Africa’s productive capacity. Since 2015, Afreximbank has invested approximately US$15 billion in the Dangote Group. That support has included major financing for the Dangote Petroleum Refinery and Petrochemicals Complex in Nigeria. In 2025, Afreximbank signed a US$1.35 billion financing facility as part of an approximately US$4 billion syndicated financing for Dangote Industries Limited. In 2026, the Bank subsequently underwrote US$2.5 billion of a US$4 billion senior syndicated term loan for the refinery, representing the largest participation in the syndicate. Since refining operations began, Afreximbank has also provided a US$1 billion working-capital facility and served as financial adviser on the Naira-for-Crude initiative.

These interventions complement Afreximbank’s wider effort to build an African market for African-refined petroleum. In 2025, the Bank established a US$3 billion Revolving Intra-African Oil Import Financing Programme, designed to facilitate approximately US$10 billion to US$14 billion in intra-African petroleum imports and enable African buyers to source more refined products from refineries operating on the continent.

Dr. Elombi said, “African enterprises such as Dangote Industries demonstrate what is possible when African ambition is matched by investment at scale. They turn our natural resources into productive capacity – refineries, factories, supply chains, jobs and products that can be traded across African markets. Afreximbank has been proud to support the Dangote Group’s industrial expansion, including its major refining investment in Nigeria. Its decision to extend that industrial footprint into East Africa is important because Africa’s transformation will increasingly depend on African enterprises investing across our borders, African financial institutions supporting them and governments creating the conditions in which those investments can succeed.”

Afreximbank believes that the development of globally competitive African enterprises and regional value chains will be essential to achieving the promise of the African Continental Free Trade Area. Investments such as the Lamu refinery, alongside Kenya’s emerging industrial parks and special economic zones, can help shift the continent from dependence on the export of unprocessed commodities and the import of manufactured products towards an African economy that increasingly produces, processes and trades for itself.

Distributed by APO Group on behalf of Afreximbank.

 




 

Energy

South African National Petroleum Company (SANPC) Confirmed as South Sudan Oil & Power (SSOP) 2026 Platinum Sponsor as Upstream Footprint Expands

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Etu Energias

The South African National Petroleum Company is participating in the seventh edition of South Sudan Oil & Power as a platinum sponsor

JUBA, South Sudan, November 11, 2026/APO Group/ –The South African National Petroleum Company (SANPC) has been confirmed as a Platinum Sponsor of the upcoming South Sudan Oil & Power (SSOP) 2026 conference, taking place November 24–25 in Juba.

 




 
 

SANPC’s sponsorship underscores the event’s position as the country’s official platform for dealmaking and project development, connecting domestic opportunities with regional and international partners.

Returning for its seventh edition, SSOP 2026 will feature high-level panel discussions, project showcases and exclusive networking sessions aimed at aligning technical and financial capabilities with South Sudan’s energy renaissance. SANPC CEO Godfrey Moagi will lead the company’s delegation, participating in key discussions and outlining the company’s expanding exploration and investment footprint in the country.

Moagi will participate in the Regional National Oil Companies (NOC) panel, titled Resource Renaissance: Energy-Fueled Growth for a New Generation. The session will focus on cross-border cooperation to reinforce regional energy security and unlock the economic potential of South Sudan’s estimated 3.5 billion barrels of proven crude oil reserves.

The dialogue comes as South Sudan targets an output expansion from approximately 174,000 barrels per day (bpd) to 230,000 bpd in the near term, with a long-term goal of 450,000 bpd. With roughly 90% of South Sudan’s reserves undeveloped, SANPC is positioning itself as a strategic, long-term technical and commercial partner to accelerate greenfield monetization and asset optimization.

With only 30% of South Sudan’s territory systematically explored, SANPC’s technical investments are delivering critical basin knowledge to underpin future exploration rounds. These technical contributions are anchored by ongoing work in Block B2, situated in Greater Jonglei State. In 2024, SANPC completed an extensive aerial geophysical survey covering approximately 47,000 km² – one of the largest airborne mapping initiatives executed in the country. The company has since progressed toward field-level preparations, advancing terrain reconnaissance to support a planned 2D seismic campaign aimed at defining drillable prospects in partnership with Nilepet.

As South Sudan pursues new partners to advance exploration, SSOP 2026 offers a platform for SANPC to provide strategic updates on its local operations, connect with local players and explore joint ventures with regional NOCs and international service providers.

To register for South Sudan Oil & Power 2026 in Juba on November 24–25, visit: https://SouthSudanOilPower.com/.

 

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

 




 

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RS South Africa Appoints Khuphukile Ndebele as Finance Director

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Experienced financial executive brings extensive expertise in financial management, business strategy and operational transformation to the role

JOHANNESBURG, South Africa, November 11, 2026/APO Group/ –RS South Africa (www.Africa.RSDelivers.com) has appointed Khuphukile Ndebele as its new Finance Director, effective 26 October 2026. Ndebele brings extensive experience in financial leadership, strategic planning and operational management across multiple industries, including electrical wholesale, telecommunications, construction and manufacturing.

 




 
 

A qualified chartered accountant and Fellow of the Association of Chartered Certified Accountants (FCCA), Ndebele has built a career spanning more than two decades, combining financial expertise with a strong understanding of business operations, governance, operational efficiency, organisational resilience and sustainable growth.

Most recently, he held senior financial leadership responsibilities at Bidvest Electrical and Voltex, where his role encompassed financial planning and reporting, budgeting, forecasting, treasury, risk management and corporate governance. He also contributed to business strategy, mergers and acquisitions, operational restructuring ,  stakeholder engagement and the implementation of technology-driven initiatives to improve efficiency and customer experience.

His previous experience includes senior finance roles at SEACOM, where he supported financial strategy, business planning, acquisitions and the implementation of enterprise resource planning (ERP) systems and business intelligence reporting tools. Earlier in his career, he held financial management positions in the construction and engineering sectors, including at Stefanutti Stocks, as well as international experience in the British Virgin Islands.

Khuphukile’s appointment represents an important step in strengthening RS South Africa’s financial leadership and supporting the business’s long-term objectives

Ndebele holds a Bachelor of Accounting Sciences from the University of South Africa and is a Fellow of ACCA. He also completed a Postgraduate Diploma in Management Practice through Henley Business School in 2025, further strengthening his capabilities in systems thinking, innovation and value creation.

In his new role, Ndebele will serve as a strategic partner to the Managing Director and a member of the Executive Management Team, contributing to the development and execution of the company’s strategic plans. His responsibilities will include overseeing financial performance across profit and loss, the balance sheet and cash flow, as well as leading budgeting, forecasting, financial reporting and working capital optimisation to support sustainable, profitable growth.

He will also oversee governance, risk management and regulatory compliance, while providing strategic leadership to Corporate Services and alignment with the IT function. This will include strengthening internal controls, enhancing business intelligence and data-driven decision-making, and supporting the digital transformation of finance and reporting processes.

Through these responsibilities, he will work with local, regional and global stakeholders to improve operational efficiency, support informed business decisions and maintain strong financial governance.

“Khuphukile’s appointment represents an important step in strengthening RS South Africa’s financial leadership and supporting the business’s long-term objectives. His combination of financial expertise, strategic insight and operational experience will be valuable as we continue to focus on business performance, sound financial management and sustainable growth,” comments Brian Andrew, Managing Director, RS South Africa.

Ndebele’s appointment comes at a time when effective financial management, informed decision-making and operational agility remain important to business resilience and competitiveness. His experience across complex, multi-entity organisations positions him to support RS South Africa’s financial management processes while working with the wider leadership team to advance the company’s strategic priorities.

Beyond his technical expertise, Ndebele places importance on transformational leadership, mentorship and developing people. His approach reflects a belief that effective leadership extends beyond financial performance to include building capable teams, strengthening collaboration and creating lasting value.

Distributed by APO Group on behalf of RS South Africa.

 

 




 

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Emirates SkyCargo introduces new freighter service connecting Milan with New York

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Emirates

The service provides direct trade connectivity for exporters from Italy, particularly the Lombardy region, to the United States, one of the country’s most important trading partners

DUBAI, United Arab Emirates, November 10, 2026/APO Group/ —

  • Carrier supports 13% year-on-year growth in exports from Milan, 23% from Greater New York region between FY24/25 and FY25/26
  • Freighter to support exports of pharmaceuticals, luxury goods, industrial components from Milan to the US
  • Service to enhance connectivity for cargo to Middle East and Asia from New York via Dubai for pharmaceuticals, perishables, e-commerce and machinery

 




 
 

Emirates SkyCargo has announced the launch of a new weekly freighter service connecting Milan (MXP) with New York (JFK) from 5th December 2026.

 

The service provides direct trade connectivity for exporters from Italy, particularly the Lombardy region, to the United States, one of the country’s most important trading partners. Additionally, on the return leg, the freighter also provides businesses in the US, particularly in the greater New York region more export connectivity to markets in the Middle East and Asia via Dubai.

Badr Abbas, Divisional Senior Vice President, Emirates SkyCargo, said: “Milan is a key air cargo gateway for Italy and Europe where Emirates SkyCargo currently offers over 500 tonnes of weekly export capacity to global markets, including over 100 tonnes weekly bellyhold capacity on our passenger flights to New York. The new freighter service adds important maindeck capacity on a vital trade corridor offering exporters greater access, flexibility and reliability when serving customers in the United States.

 

“Exports from the Greater New York region have seen strong growth, reflecting robust demand for reliable access to international markets. By combining enhanced freighter capacity with our extensive network of freighter and passenger services through Dubai, we are enhancing connectivity for pharmaceuticals, e-commerce, perishables and machinery from the US, while creating faster links to destinations across the Middle East, Asia and beyond.”

 

Powering exports from Italy to the US

 

The new freighter flight, operated by Emirates SkyCargo’s Boeing 777-F aircraft and offering around 100 tonnes of capacity per flight, has been launched to serve the growing demand for export capacity from Northern Italy and the Lombardy region to partner markets. Exports from Milan carried by Emirates SkyCargo grew 13% in FY 2025/26 compared to the previous year. By providing direct freighter connectivity from Milan to New York, the largest air cargo export destination for Italian goods, Emirates SkyCargo is creating faster and more efficient pathways for Italian exporters to reach customers across North America.

Exports from the Greater New York region have seen strong growth, reflecting robust demand for reliable access to international markets

Emirates SkyCargo also operates a once weekly freighter flight between Milan and Dubai (DWC). Key export commodities that move by air from Milan include pharmaceuticals, vaccines and clinical trial medication, luxury goods and fashion items, industrial equipment and machine parts, high-end automotives, fresh produce and specialty food products. Major export markets include the Middle East, United States, Australia and South Africa.

 

Emirates SkyCargo has facilitated increasing volumes of export between Italy and its trading partners with exports from the country growing at over 12% between FY 2024/25 and FY 2025/26. Every week, Emirates SkyCargo offers over 1,000 tonnes of export cargo capacity from its four Italian gateways– Bologna, Milan, Rome and Venice. The carrier also operates a strong road feeder service, connecting Italian businesses located beyond online gateways to Emirates SkyCargo’s network. The new freighter service demonstrates Emirates SkyCargo’s commitment to the whole Italian market and is a testament to potential opportunities across Italy.

 

Stronger footprint and increased exports in North America

 

From New York, the freighter service will provide more options for connecting cargo for businesses in Greater New York and Northeast USA. Emirates SkyCargo has been supporting a significant increase in exports from the region, with an increase of 23% in the volume of exports from JFK and EWR airports between FY 2024/25 and FY 2025/ 26. The freighter service unlocks seamless connections to high-growth markets across the Middle East, Asia and Oceania.

 

Key export commodities moving from New York include pharmaceuticals and healthcare products, perishables, e-commerce shipments, machinery and industrial components. By combining dedicated freighter capacity with Emirates SkyCargo’s extensive freighter and passenger network, the service offers customers greater flexibility, faster transit times and access to one of the world’s most extensive cargo networks.

 

In addition to the new freighter service to New York (JFK), Emirates SkyCargo has also launched freighter flights in 2026 to Los Angeles (LAX) and Dallas (DFW) while increasing frequencies to Miami (MIA), enhancing the overall connectivity between North America and its global network.

 

Emirates SkyCargo has embarked on an ambitious year of growth for its freighter fleet and network. The cargo carrier took delivery of eight new freighter aircraft, including seven Boeing 777-F production freighters and one Boeing 777-300ER special freighter. This expansion helped power the growth of Emirates SkyCargo’s freighter network from over 40 destinations in March 2026 to over 60 destinations by July 2026. In addition to dedicated freighter flights, the carrier also offers high frequency bellyhold cargo capacity on Emirates’ fleet of passenger aircraft operating to destinations across six continents.

 

Interested customers can contact their local Emirates SkyCargo office or visit www.SkyCargo.com for more information on flights and services available to them.

Distributed by APO Group on behalf of The Emirates Group.

 




 

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