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Africa Finance Corporation (AFC), Solid Minerals Development Fund of Nigeria (SMDF), and Xcalibur Partner to Boost Nigeria’s Geological Data Capabilities

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3 years ago

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Geological Data

The collaboration will pursue initiatives that enhance the availability of Nigeria’s geological data to interested investors across the globe and design an exploration program for mapping the country’s subterranean mineral wealth

ABUJA, Nigeria, October 18, 2023/APO Group/ — 

In a groundbreaking move for Nigeria’s mining sector, Africa Finance Corporation (AFC) (https://www.AfricaFC.org/), the leading infrastructure provider on the continent, the Solid Minerals Development Fund of Nigeria (SMDF), a Nigerian mining-focused development fund, and Xcalibur Multiphysics (Xcalibur), a global leader in airborne geophysics, have joined forces to enhance the landscape of geo-scientific data and geological mapping for early-stage mining projects in Nigeria. The three institutions signed a Cooperation Agreement yesterday on the sidelines of the ongoing Nigerian Mining Week in Abuja.

The collaboration will pursue initiatives that enhance the availability of Nigeria’s geological data to interested investors across the globe and design an exploration program for mapping the country’s subterranean mineral wealth. Additionally, AFC, SMDF and Xcalibur will aim to establish a comprehensive database that effectively showcases Nigeria’s resource potential, thus encouraging long-term investment from banks, mining firms, financial institutions, and individuals.

Our collaboration will bolster the availability of high-quality geophysical data that will attract mining investments and contribute to the development of critical mineral resource

Earlier this year, AFC and Xcalibur signed a joint venture agreement to partner on mapping, developing and co-financing natural resource projects in Africa, and this initiative in Nigeria is an offshoot of the program. With this tripartite agreement, AFC and SMDF will jointly explore suitable financing solutions, engage with regulators, support relevant government agencies, and facilitate government discussions while Xcalibur contributes technical support, oversees data quality, and conducts economic evaluation studies, including potential biodiversity and environmental mapping.

Commenting on this landmark agreement, Samaila Zubairu, President & CEO of AFC, said, “Nigeria’s abundant natural resources provide a promising foundation for growth and development. However, there is currently a limited understanding of the vast underground mineral wealth within the country. In order to address this, our collaboration with SMDF and Xcalibur seeks to significantly improve the availability of high-quality geomapping data. This ambitious initiative will not only attract valuable mining investments but also pave the way for the development of critical mineral resources in Nigeria with intentional focus on value capture and retention in line with the minerals value chain policy in the country. Ultimately, our goal is to establish Nigeria as a pivotal player in the global energy transition.”

Fatima Umaru Shinkafi, Executive Secretary and CEO of Solid Minerals Development Fund, said, “Over 90% of Nigeria remains underexplored, with significant potential to discover and increase existing deposits. Increased exploration activity is crucial to realising the benefits of the country’s geological endowment and supporting a pipeline of new projects to market. Given that Nigeria accounts for less than 0.5% of the global exploration budget, our partnership with AFC and Xcalibur will act as a stimulus for resource exploration activity, derisk resource exploration in Nigeria, and increase the global appeal of Nigeria as a resource exploration destination.”

“We are thrilled to join forces with the AFC and the SMDF in this groundbreaking project to enhance geophysical data  in Nigeria,” said Dario Castellanos, VP Financing and Middle East Director of  Xcalibur Multiphysics. ”Our collaboration will bolster the availability of high-quality geophysical data that will attract mining investments and contribute to the development of critical mineral resources in the country. We believe that this initiative will be instrumental in establishing Nigeria as a pivotal player in the global energy transition, and we are fully committed to the success of this exciting project.”

Despite being home to 30% of the world’s mineral reserves, Africa receives only 5% of global mining financing. AFC is a significant investor in Africa’s mining sector, deploying over $900 million in critical projects over the last seven years. The Corporation’s interventions have sought to close the mining sector’s financing gap by deploying its in-house project development expertise and structuring capabilities to support sponsors in derisking projects for bankability. Recent examples of transformational mining projects in which AFC has invested include the Dynamic Mining Bauxite Mine in Guinea, expected to increase the country’s bauxite production and exports, and the FG Gold Baomahun Gold Project in Sierra Leone, which is expected to contribute significantly to local job creation and sustainable economic development.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

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Çelebi Aviation Enters Kenyan Market, Accelerating Strategic Growth Across Africa

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2 days ago

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April 24, 2026

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Çelebi Aviation

The expansion into Kenya signals confidence in the region’s aviation potential and supports the company’s ambition to deepen its presence across the continent

NAIROBI, Kenya, April 24, 2026/APO Group/ –Çelebi Aviation (www.CelebiAviation.com) has announced its entry into the Kenyan market, marking a key milestone in its expansion across Africa and reinforcing its focus on high-potential regions.

With more than 65 years of experience in ground handling and cargo services, the company continues to operate with a strong emphasis on transparency, ethical standards, and full regulatory compliance. Its global footprint spans Europe, Asia, and Africa, where it consistently delivers high standards of safety, operational excellence, and customer satisfaction.

The move aligns with a broader strategic recalibration. Following the conclusion of its concession agreement in Tanzania, Çelebi Aviation opted not to continue operations in the country under the existing structure after a comprehensive review. This decision reflects a disciplined, value-driven approach to growth and a clear focus on markets that offer sustainable, long-term opportunities.

The expansion into Kenya signals confidence in the region’s aviation potential and supports the company’s ambition to deepen its presence across the continent. Çelebi Aviation continues to prioritize markets where it can leverage its global expertise to drive efficiency, service quality, and long-term value creation.

Operations across all existing markets remain uninterrupted, backed by a strong operational infrastructure and an experienced workforce. The company also maintains its commitment to contributing to local economies and employment in every geography it serves.

As Çelebi Aviation advances its global growth strategy, this latest step further strengthens its position as a trusted aviation services partner across emerging and established markets alike.

Distributed by APO Group on behalf of Çelebi Aviation.

 

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GREE Unveils 130 Products at the 139th Canton Fair, with Over 80% Featuring AI and Green Energy-Saving Technologies

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3 days ago

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April 24, 2026

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GREE

GUANGZHOU, CHINA – Media OutReach Newswire – 17 April 2026 – On April 15, the 139th China Import and Export Fair (hereinafter referred to as the “Canton Fair”) officially opened. As a leading enterprise in the manufacturing sector, Gree Electric made a grand appearance at Pavilion 4.2A under the theme “GREE, Making Better Electric Appliances,” presenting over a hundred innovative products in its largest exhibition area in Canton Fair history. Amid the global wave of green and intelligent manufacturing transformation, GREE is leveraging its hard-core independent innovation and full-industry-chain capabilities to show the world the confidence and resolve of China’s intelligent manufacturing to navigate industry cycles and lead the transformation.

Zhu Lei, CMO of Gree Electric, stated that Gree has participated in the Canton Fair for 31 consecutive years. This year, GREE brought 130 products to the event. Facing the global market, GREE strives to fully meet the practical needs of consumers from different regions worldwide. Notably, the majority of these products are originally manufactured in and exported from China, reflecting the dedication and ingenuity of GREE’s Chinese craftsmen.

It is reported that at this year’s Canton Fair, GREE has created a full-industry-chain exhibition space ranging from core components to scenario-based solutions. To date, buyers from over 50 countries and regions have scheduled visits and business negotiations, marking a 21% year-on-year increase.

Currently, the global home appliance industry is undergoing a dual transformation. On one hand, an energy efficiency revolution driven by the “Dual Carbon” goals makes the transition to eco-friendly refrigerants an urgent priority; on the other hand, an experience revolution spurred by consumption upgrades has made quietness, health, and smart features the core demands of users. GREE’s SilenzX series ultra-quiet air conditioners, showcased at the event, serve as a precise response to this trend. Equipped with a self-developed rotary four-cylinder compressor, the SilenzX series reduces the minimum sound pressure level of the outdoor unit to a mere 29 decibels—far below the industry average of 42 decibels. Backed by 137 invention patents, the product recently won a Gold Medal at the International Exhibition of Inventions Geneva, signaling that Chinese enterprises have shifted from being “followers” to “leaders” in the realm of comfort technology.

A deeper layer of competitiveness stems from GREE’s long-term bet on a green future. Among the products showcased at this Canton Fair, over 80% are equipped with AI, green energy-saving, and other advanced technologies. GREE has comprehensively implemented R290 eco-friendly refrigerant technology across its entire product matrix, including split units, window units, and water heaters. Furthermore, its world-first photovoltaic air conditioning system has achieved a systemic breakthrough of “zero carbon emissions, zero electricity bills, and zero waste.” The AI dynamic energy-saving technology also utilizes intelligent algorithm optimization to boost annual energy efficiency by 15.8% and reduce power consumption by 13.6%. Rather than isolated technological features, these represent comprehensive green solutions that cover the entire chain of energy production, transmission, and consumption, providing the industry with a leapfrog path from “low-carbon compliance” to “zero-carbon leadership.”

Behind this systemic innovation capability lies a full-industry-chain competitive moat forged through 35 years of independent R&D. At this Canton Fair, Gree introduced three major compressors—G-Boost, G-Storm, and G-Hyper—which have successfully overcome industry challenges such as ultra-high-temperature cooling and ultra-low-temperature heating. Its star product, the GMV 9 series, is capable of operating in an ultra-wide temperature range from -35°C to 60°C, marking GREE’s achievement of full-stack technological autonomy from core components to system integration.

This strategic resolve is yielding substantial returns in GREE’s global layout. As one of the first Chinese home appliance companies to venture overseas, GREE has built a network covering more than 190 countries and regions. Independent brands now account for 70% of its total export volume, and this figure exceeds 85% in Belt and Road countries. This marks a highly successful, high-quality transformation from a traditional OEM (Original Equipment Manufacturer) model to an independent brand-led enterprise.

From core technological breakthroughs to a green and low-carbon transition, GREE remains rooted in technology and centered on quality. Its presence at the Canton Fair serves as a vivid microcosm of the transformation and upgrading of China’s manufacturing sector, demonstrating the powerful potential and dynamic momentum of “Made in China.”

 

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Sierra Leone Signs Offshore Petroleum License with Marginal Energy

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3 days ago

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April 24, 2026

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Sierra Leone

The deal marks a new step in positioning Sierra Leone as an emerging upstream destination with over $225 million in committed exploration investment

PARIS, France, April 23, 2026/APO Group/ –The Government of Sierra Leone has signed a new offshore petroleum license agreement with Nigerian-based independent energy company Marginal Energy, advancing efforts to attract upstream investment and unlock the country’s hydrocarbon potential.

 

The agreement was formalized on April 23 at the Invest in African Energy Forum in Paris, reinforcing Sierra Leone’s growing profile among frontier exploration markets.

Signed through the Petroleum Directorate of Sierra Leone (PDSL), the license grants Marginal Energy exclusive rights to explore, develop and produce hydrocarbons across five offshore blocks – G-Blocks 145, 146, 147, 160 and 161 – covering approximately 6,800 KM2.

The deal establishes a full-cycle upstream program, spanning exploration through to potential production, under a fiscal and regulatory framework designed to balance investor returns with national value creation.

According to details released by PDSL, the agreement includes a structured exploration period of up to seven years, alongside a minimum work program incorporating 3D seismic acquisition, advanced geoscience studies and drilling commitments. The company has committed to invest more than $225 million during the exploration phases.

In a statement released by PDSL, President Julius Maada Bio said the agreement reflects the government’s commitment to “responsibly harnessing Sierra Leone’s natural resources for sustainable economic transformation,” adding that partnerships with capable investors will help accelerate development of the country’s petroleum sector.

PDSL Director General Foday Mansaray described the deal as “an important step in unlocking Sierra Leone’s offshore potential,” emphasizing the country’s focus on transparency and competitiveness. The agreement also includes provisions for local content development, technology transfer and environmental management, aligning with Sierra Leone’s broader strategy to ensure long-term economic benefits from resource development.

For Marginal Energy, which brings over two decades of experience in the Niger Delta, the agreement represents an entry into a largely underexplored basin with significant upside potential. The company said it is committed to deploying its technical and financial capabilities to advance exploration while maintaining high standards of environmental and operational performance.

The signing comes as African governments continue to position their upstream sectors to attract capital amid shifting global energy dynamics. It also follows a reconnaissance permit agreement signed by PDSL with Shell at the forum a day earlier, enabling Shell to conduct advanced geological and geophysical surveys across multiple offshore blocks.

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

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