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Afreximbank supports Dangote Group as it targets US$100 billion annual revenue by 2030

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Dangote Group

To drive the growth over the five years, the Dangote Group predicts that it will require at least $40 billion in new investments to realise its continental ambitions

CAIRO, Egypt, April 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) is proud to announce that it is supporting Dangote Group, as it seeks to expand its operations and grow its turnover to US$100 billion by 2030.

 

The Group’s leadership presented its long-term growth strategy “Vision 2030: Supercharging Dangote Group for Long Term Success” to the Afreximbank Board of Directors and its executive team on Tuesday, 31 March 2026. The strategy outlines a two‑phase expansion programme spanning 2025–2028 and 2028–2030.

During the presentation, Dangote Group outlined plans to scale and optimise its existing platforms and expand capacity across all active sectors. Key initiatives include increasing the capacity of the Dangote Petroleum Refinery from 650,000 barrels per day (bpd) to 1.4 million bpd. Additionally, the Group intends to quadruple its Fertiliser production from 3 million tonnes per annum to 12 million tonnes per annum, a move that would position the Group as the world’s largest producer of urea fertiliser.

The expansion strategy encompasses rapid growth across other business lines, including cement, rice, and broader food production. Beyond its current portfolio, the Group identified new investment opportunities in infrastructure — including ports and pipelines — as well as gas, mining (as a gateway for semi‑processed and value‑added mineral exports), data centres to support Africa’s digital transformation and enterprise resilience, and power, described as the engine of Africa’s industrial transformation.

Our partnership with Afreximbank is more than financial support; it is about a shared dream for the continent

To drive the growth over the five years, the Dangote Group predicts that it will require at least $40 billion in new investments to realise its continental ambitions.

Recognising the strategic value of the partnership with Afreximbank, Mr. Aliko Dangote, President/Chief Executive, Dangote Industries Limited said: “Our partnership with Afreximbank is more than financial support; it is about a shared dream for the continent. When we set out to build a 650,000 barrel-per-day refinery—the largest of its kind in Africa—the Bank believed in our vision when others were sceptical. Without their leadership and trust, the development of the African continent would not be where it is today. We are joined at the hip with the bank because we share the same mission: to drive local capacity, eliminate our dependence on imports, and ensure Africa’s industrial growth is led by Africans.”

On his part, Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank, noted that the engagements demonstrated a strong convergence of purpose to free Africa from dependency and to ensure the continent’s resources are used to the benefit of its people. He expressed confidence that the collaboration would lead to “a formidable bond of partnership to make large-scale investments that will accelerate the changes we desire,” changes that have gained urgency amid increasing global fragmentation and protectionism.

Dr. Elombi recalled that at the onset of COVID 19 pandemic in 2020, Africa struggled to secure even the basic protective materials due to limited production capacity, adding that “even when financing was available, we could not access these essential items.”

He further pledged the readiness of Afreximbank and its Board of Directors to support the realisation of Dangote Group’s aspirations. “This is the very purpose for which our institution was created. As is deeply rooted in our DNA, we do not only listen—we execute and convert aspiration into action,”

The event also featured the signing of the agreement for US$2.5-billion facility underwritten by Afreximbank as part of a US$4-billion senior syndicated term loan in favour of Dangote Petroleum Refinery and Petrochemicals FZE.

Distributed by APO Group on behalf of Afreximbank.

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CGTN: Navigating the South China Sea Before GPS

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BEIJING, CHINA – Media OutReach Newswire – 9 July 2026 – Ten years after the South China Sea arbitration, CGTN has published an article exploring the story of the Genglubu – a handwritten navigation manual that guided generations of Hainan fishermen long before GPS, shedding light on a chapter of South China Sea history unfamiliar to many outside the region.

How did generations of Chinese sailors find their way across the South China Sea, one of the world’s busiest and most challenging waterways?

A new CGTN documentary, Genglubu: Charting the South China Sea, explores the answer through a little-known ancient navigation manual passed down for generations of fishermen in Tanmen, Hainan Province. The Genglubu recorded routes, compass bearings and sailing distances, helping fishermen navigate reefs, islands and open seas. The documentary follows the fishermen who crossed the sea, the families who preserved their knowledge and a maritime tradition that connected China with Southeast Asia and beyond.

The People Who Brought the Genglubu to Life

To outsiders, the Genglubu looks like a secret code. A single line of just fourteen Chinese characters can contain an entire sea route: the departure point, direction, destination, distance and estimated sailing time.

“Generation after generation, Hainan fishermen rode the waves – not to rule the sea, but to make their living from it.”

Xin Lixue, Curator, China (Hainan) Museum of the South China Sea

The documentary follows veteran fishing boat captains whose lives were inseparable from the sea. Wang Shitao first went to sea at the age of nine. At twelve, his fishing boat was caught in a typhoon. Everyone else on board died. Clinging to a piece of floating timber, he drifted alone for three days. Four years later, another violent storm struck. Once again, he was the only survivor. Yet each time, he returned to the sea. Late in life, reflecting on decades spent sailing the South China Sea, he summed up his feelings:

“I love the South China Sea. I hate it. I miss it.”

Wang Shitao, fishing boat captain

The sea demanded sacrifice even as it provided a livelihood. A storm or mishap could wipe out an entire crew.

“Children and brothers should never sail on the same boat.”

Wang Shubao, fishing boat captain

A Maritime Tradition Connecting Asia

The documentary challenges the common assumption that the Genglubu was only about the South China Sea. Research on the Liang Family Genglubu reveals routes extending to Singapore, Malacca and Indonesia, showing that Hainan fishermen also played a role in regional maritime trade.

“Hainan fishermen also took part in overseas trade.”

Zhao Jueqi, China (Hainan) Museum of the South China Sea

Not every route was written in words. Some Genglubu manuscripts contain mountain-and-water charts. They combine sketches of coastlines with compass bearings, water depth and sea conditions. These drawings helped sailors identify islands, reefs and coastlines and determine their position at sea.

“The Americans and the British produced their own navigational records, which identify the Chinese as being engaged very heavily in fishing on these islands and other forms of economic activity.”

Anthony Carty, International Law Sholar

Today, satellites, weather stations and lighthouses have transformed navigation across the South China Sea. But the purpose remains the same: helping sailors travel safely and return home. Genglubu: Charting the South China Sea traces a maritime tradition shaped by generations of ordinary people. It is a story of navigation, memory and resilience, one that forms part of the shared maritime heritage of Asia.

 

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Renew Capital Narrows 500+ African Companies to 15 Embedded Finance Investment Candidates

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From 48 countries, selected companies are using existing customer relationships, data and distribution to expand financial access for African SMEs

The next generation of Africa’s small business banks won’t be banks

KIGALI, Rwanda, July 9, 2026/APO Group/ –Renew Capital (http://RenewCapital.com/) has selected 15 companies from more than 500 applicants across 48 African countries to advance through its inaugural Renew Venture Lab: EmFi Series.

 

The size and breadth of the applicant pool point to a larger shift underway across Africa: some of the continent’s most promising embedded finance opportunities may come not from traditional fintechs, but from tech companies already serving small and medium-sized enterprises (SMEs).

Africa’s SMEs are the main creators of jobs, yet they face an estimated $330B annual credit gap. However, Africa is rapidly becoming a global center for technology innovation and currently boasts the world’s largest mobile money market. Meanwhile, SMEs are becoming more tech-enabled as smartphone adoption across sub-Saharan Africa is projected to rise from 54% in 2024 to 81% by 2030 and data costs plummet.

These trends open new opportunities to embed financial products in mobile applications to reach the world’s most capital-constrained private sectors, unlocking growth and job creation. As Africa’s startup ecosystems grow, technology companies powering digital payments, organizing smart distribution, optimizing logistics, improving healthcare, and digitizing agriculture value chains have the potential to reach millions of SMEs that banks are not serving and use their customer data to underwrite financial products.

All 500+ applicants were invited to exclusive expert sessions with founders from some of Africa’s fastest-growing companies and gained advice from some of the world’s leading embedded finance and Web3 companies. Forty-seven companies were selected for a pitch competition and given a startup package valued at more than $250,000. From this group, 15 were selected to advance to deeper technical training and investment consideration. The 15 companies represented Ethiopia, Ghana, Kenya, Morocco, Nigeria, Senegal, South Africa, Togo, Uganda and Zambia.

Matthew Davis, Co-CEO of Renew Capital, said: “The next generation of Africa’s small business banks won’t be banks. They’ll be startups that already understand how SMEs operate, have their data and have earned their trust. These 15 companies are building from that advantage. That’s why we’re paying attention.”

THE TOP 15 COMPANIES

Company Country Founder Website
AgroCenta Ghana Francis Obirikorang (https://apo-opa.co/4vTsP3Q) https://apo-opa.co/4vW91No
Boost Technology Ghana Mike Quinn (https://apo-opa.co/4vWkAEm) https://apo-opa.co/4vWkE74
Dots for Africa Senegal Carlos Oba (https://apo-opa.co/4peki9h) http://DotsFor.com
Fanaka Zambia Hillary Sang (https://apo-opa.co/4h7E1oS) https://apo-opa.co/4h3rkvj
Kutana Ghana Samuel Opoku (https://apo-opa.co/4vW923U) https://apo-opa.co/4fnYapA
MajibuAfrica Uganda Janis Zicans (https://apo-opa.co/4f3YGrg) https://apo-opa.co/4aGskSe
Marakisoft Ethiopia Alemayehu Seifu (https://apo-opa.co/4eSIN8o) https://apo-opa.co/3R1TAUI
Oze Ghana Meghan McCormick (https://apo-opa.co/4paWgf9) https://apo-opa.co/4vXKbN6
Regxta Nigeria Rukayat Bello (https://apo-opa.co/4vSdMaz) https://apo-opa.co/4h28bdg
Rigo Nigeria Olukayode Odeyinde (https://apo-opa.co/4aJjcfF) https://apo-opa.co/4w2UbEP
Shiprazor South Africa Lesego Tladinyane (https://apo-opa.co/3SU3hVK) https://apo-opa.co/4aGsl8K
Solimi Togo Gael Egbidi (https://apo-opa.co/3SSjZor) https://apo-opa.co/4vWkFIa
Tradevu Nigeria Nkiru Amadi-Emina (https://apo-opa.co/4aGsadA) https://apo-opa.co/4eS7dPl
Z Systems Morocco Samer Choumar (https://apo-opa.co/4bd4PQU) https://apo-opa.co/4vUQUYf
Zendawa Kenya Wilfred Njuguna (https://apo-opa.co/4pavJyx) https://apo-opa.co/4eREuKE

Distributed by APO Group on behalf of Renew Capital.

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Makor Resources CEO to Speak at African Mining Week (AMW) 2026 Amid $30M Copper Strategy and Artisanal and Small-Scale Miners Formalization Drive

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Brooke Bibeault’s participation at African Mining Week will highlight Makor Resources’ Zambia strategy, its approach to ASM formalization and the role of copper projects in supporting long-term critical minerals growth

CAPE TOWN, South Africa, July 9, 2026/APO Group/ –Brooke Bibeault, CEO of copper-focused exploration and development company Makor Resources, has been confirmed as a speaker at African Mining Week (AMW) 2026, taking place October 14–16 in Cape Town. The event brings together global mining investors, developers and policymakers to discuss opportunities shaping Africa’s next generation of critical minerals projects.

 

Bibeault will participate in a panel discussion on Accelerating the Formalization of Artisanal Miners, where industry stakeholders will explore pathways to integrate artisanal and small-scale miners (ASM) into formal mining value chains while improving productivity, environmental standards and community development outcomes.

The discussion aligns with Makor Resources’ approach in Zambia, where the company is supporting ASMntegration through its MineHive program. The initiative provides funding and technical support to ASM operators, strengthening local participation in the copper sector while creating structured pathways into formal supply chains.

Alongside its ASM-focused initiatives, Makor Resources is advancing a district-scale copper exploration strategy across Zambia, supporting the country’s long-term ambition to significantly increase annual copper output. The company is progressing the Muli Copper Project in Central Zambia, while also advancing exploration at the Kangili Copper Project in the Mkushi District.

In early 2026, Makor Resources announced plans to invest up to $3 million by the end of the year to enhance geological understanding across its asset portfolio. The program includes integrated geophysical surveys, remote sensing and systematic sampling campaigns designed to support target definition and resource delineation. These activities form part of a broader investment framework estimated at between $20 million and $30 million over the medium term.

With global copper demand projected to rise significantly in the coming decades, attention is increasingly turning to new supply sources. At AMW 2026, Bibeault is expected to outline how Makor Resources’ Zambia portfolio is positioned to contribute to both national economic development and the broader global energy transition through expanded copper supply.

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

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