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Afreximbank signs MOU to support the development of Nigeria’s Anambra State, foresees $200-million debt financing

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Afreximbank will work with the state government to establish bankability for key projects, including the Ikenga Mixed-Use Industrial City, the Anambra Export Emporium and the Akwaihedi Unubi Uga Automotive Industrial Park

AWKA, Nigeria, September 8, 2023/APO Group/ — 

The African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has signed a memorandum of understanding (MOU) with Nigeria’s Anambra State Government to collaborate on state development efforts through the provision of project preparation and advisory services, including a potential debt financing programme of up to US $200 million.

Under the terms of the MOU signed by Mrs. Kanayo Awani, Afreximbank’s Executive Vice President, Intra-African Trade Bank, and Prof. Charles Soludo, Governor of Anambra State, during the Anambra Investment Summit, Afreximbank and the state government will jointly prioritize strategic projects for preparation and funding, collaboratively evaluating each project to formulate a time-bound work programme for effective execution.

Afreximbank will work with the state government to establish bankability for key projects, including the Ikenga Mixed-Use Industrial City, the Anambra Export Emporium and the Akwaihedi Unubi Uga Automotive Industrial Park, as well as any other project agreed upon by the parties.

Afreximbank and the Anambra State Government will also conclude all prerequisite actions necessary for securing a financing programme of up to $200 million from Afreximbank and its affiliated entities for the projects contingent upon conclusion of a substantive agreement between the parties.

In addition, the MOU provides for the parties to collaborate on trade and investment promotion in Anambra State through the African Sub-Sovereign Governments Network (AfSNET) and facilitate the implementation of the African Continental Free Trade Agreement. The Bank will work with the Anambra State Investment Promotion and Protection Agency to provide training and capacity building on trade and investment, undertake investment forums, identify, and prepare strategic trade and investment projects and foster collaboration between sub-sovereign governments in Africa. The AfSNET network is expected to facilitate direct exchange of information and peer learning from sub-sovereign governments in Africa.

Other areas of collaboration covered in the MOU include the provision of transaction advisory services aimed at facilitating the procurement of debt and equity capital. It will also focus on export development advisory, twinning services, and senior debt structuring.

Afreximbank is ready to support Anambra State, as it is doing in Ogun and Abia States (Enyimba Industrial City), to promote similar projects here

In an address to the summit, Mrs. Awani, speaking on behalf of His Excellency Prof Benedict Oramah, President and Chairman of the Board of Directors, said that Afreximbank’s mission aligned seamlessly with Anambra’s industrialization objectives, including its vision for a smart mega city, noting that the Bank had identified the emergence of industrial parks and special economic zones as a strategic priority to accelerate Africa’s industrial infrastructure development.

“These facilities do not only optimize capital deployment but also drive economies of scale and nurture ecosystem development,” she said. “They also enable the use of otherwise inaccessible technologies and cutting-edge infrastructure”.

Noting that such projects required substantial funding, she said that innovative partnerships, including public-private partnerships, had emerged as instrumental bridges capable of closing the infrastructure gap that spanned the African continent, adding that the African private sector held immense potential to bolster a wide spectrum of public sector endeavours.

“Just as we have championed the transformative potential of industrial parks and special economic zones across Africa through public and private sector collaboration, committing over US$1.5 billion so far to the realization of these projects, Afreximbank is ready to support Anambra State, as it is doing in Ogun and Abia States (Enyimba Industrial City), to promote similar projects here,” Mrs. Awani continued. “With peace and security gradually returning to the state, with our youth beginning to realize that their future cannot thrive in an environment of widespread insecurity, we can look forward to a similar US$400 million industrial park project in collaboration with the State. It makes business sense to do so, and we have advanced discussions with Anambra State Investment Promotion and Protection Agency (ANSIPPA) to implement creating over 10,000 jobs while bringing export-oriented businesses to Anambra state.

The Bank, leveraging its fundraising capabilities in Africa’s capital markets, could also raise funds that could be deployed into impactful infrastructure projects in the state using various financing instruments and mechanisms which could be explored with the state government, she added.

Ms. Awani announced that Afreximbank’s broader collaboration with Nigeria had been fruitful over the years and had seen the Bank invest over US$36 billion into the Nigerian economy since its creation in 1993. Afreximbank flagship projects currently underway in Nigeria include the US$300-million 500-bed Africa Medical Centre of Excellence in Abuja in partnership with King’s College, London, the Afreximbank Africa Trade Centre, also in Abuja, and the Africa Quality Assurance Centre in Shagamu, Ogun State, which is already operational.

She announced that the Bank was implementing AfSNET, a platform for sub-sovereign governments throughout Africa to promote economic development and encourage intra-African trade and investment by allowing collaboration between the public and private sectors, facilitating peer learning, and allowing Afreximbank to take its products and services to the grassroots, where trade and investment actually take place.

The 2023 Anambra Investment Summit  held under the theme “Laying the Foundation for a Prosperous and Smart Mega City.”

Accompanying Mrs. Awani to the summit was Eric Intong Monchu, Afreximbank Regional Chief Operating Officer, Anglophone West Africa, and a number of other senior Afreximbank officials.

Distributed by APO Group on behalf of Afreximbank.

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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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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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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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