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Africa Finance Corporation (AFC) Unveils Strategic Partnerships to Boost Africa’s Mining Sector

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Since 2014, AFC has invested over US$1billion in Africa’s mining of precious metals and critical minerals across several countries, and the latest partnerships will further strengthen the sector by driving significant capital flow into the continent

CAPE TOWN, South Africa, February 16, 2024/APO Group/ — 

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading instrumental infrastructure solutions provider, has announced several strategic partnerships on the sidelines of the recently concluded 2024 Mining Indaba conference in Cape Town to boost Africa’s mining sector, ushering the continent into a new era of growth and prosperity.

Since 2014, AFC has invested over US$1billion in Africa’s mining of precious metals and critical minerals across several countries, and the latest partnerships will further strengthen the sector by driving significant capital flow into the continent.

Gécamines

AFC signed an expression of interest (EOI) with Gécamines, the largest mining company in the Democratic Republic of Congo, to develop certain assets in the mining sector in DRC, including critical minerals. The collaboration will also focus on several initiatives for near-term co-financing of mining and infrastructure related projects for execution by the end of Q2 2024.

FG Gold

AFC announced the successful closure of a US$55 million mezzanine debt facility for FG Gold Limited, facilitating commencement of construction for the Baomahun Gold Project in Sierra Leone. The project represents a significant milestone as it is poised to become Sierra Leone’s inaugural large-scale commercial gold mine. Upon completion, it is projected to contribute approximately 10% to Sierra Leone’s GDP and generate 900 direct and indirect job opportunities within the country.

This financing builds upon AFC’s previous investment of US$45 million in 2022, which played a pivotal role in the extensive development of the project, culminating in the completion of its definitive feasibility study.

Thor Explorations Ltd

While over 30% of the world’s minerals are in Africa, less than 5% of global development funding is invested in African mining projects

Last year, Thor Explorations Ltd, through its fully owned subsidiary Newstar Minerals Ltd, obtained rights to explore over 600 square kilometers in Nigeria’s West Oyo, Kwara, and Ekiti lithium project areas, highlighting the West Oyo site as home to the nation’s most substantial lithium pegmatite occurrences. AFC has signed an EOI with Thor Exploration for the development of this project, marking the Corporation’s commitment to supporting the establishment of Nigeria’s first large-scale lithium mine. This initiative plays a pivotal role in advancing global energy transition objectives, solidifying Nigeria’s position as a key enabler of renewable energy. AFC is the largest investor in Thor Explorations, investing US$86 million towards the Segilola Gold Mine, Nigeria’s first commercial scale gold mine.

Giyani Metals

AFC signed an EOI with Giyani Metals for the financing of a high purity manganese (HPM) mine and plant in Botswana – a rare venture in Africa. HPM is a critical mineral for batteries used by electric vehicles and is central to the overall transition towards a more environmentally friendly global economy. In addition to job creation, Botswana will benefit through diversification in an economy that has largely been dependent on income from diamond exports.

Nyanza Light Metals

AFC announced the launch of the syndication process and executed the senior debt term sheet for Nyanza’s 80,000 tonnes per annum (TPA) TiO2 pigment plant in Richard’s Bay Industrial Development Zone. Valued at US$780 million, this sulphate based TiO2 pigment plant will stand as the first and only one of its kind in Africa. The launching of the syndication process follows the successful completion of the project development stage, which AFC co-financed with a US$3 million Project Development Facility.

The plant is strategically positioned to add value to the region’s abundant titanium ore, historically exported without any value addition. AFC serves as a co-developer and co-Mandated Lead Arranger (MLA) alongside Afreximbank, underlining the Corporation’s commitment to advance transformative projects in the region.

Wood Mackenzie Study

In October 2023, AFC and Solid Mineral Development Fund (SMDF) commissioned Wood Mackenzie to conduct a comprehensive study to assess the feasibility of establishing a midstream processing plant in Nigeria. Wood Mackenzie’s study focused on the viability of processing a number of critical minerals including lithium, cobalt, and manganese. The insight and outcome of the study, revealed at the Mining Indaba in Cape Town, showed that establishing a processing plant in Nigeria will significantly bolster the country’s FX generation capacity through significant annual trade volumes and create thousands of local jobs.

Speaking at the signing, AFC’s Chief Investment Officer Sameh Shenouda said: “While over 30% of the world’s minerals are in Africa, less than 5% of global development funding is invested in African mining projects. Recognizing the significant funding gap in the African mining sector, AFC is committed to pragmatic solutions and supporting the sector’s growth, having invested about $1 billion across metals and critical minerals in several African countries. Through these strong partnerships with like-minded stakeholders, our goal is to open up new markets, promote a greener economy, and contribute to the overall development of African countries.”

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

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From Megawatt (MW) to Gigawatt (GW): Why Africa Must Think in Grid-Scale Power to Compete in the Artificial Intelligence (AI) Economy

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As AI infrastructure drives power demand into the gigawatt range, Africa must move beyond incremental energy planning – placing grid-scale generation at the center of discussions at African Energy Week 2026’s AI and Data Center Track

CAPE TOWN, South Africa, May 11, 2026/APO Group/ –The rapid expansion of artificial intelligence is fundamentally reshaping global energy demand, with implications that extend well beyond traditional power planning. Nowhere is this more apparent than in the growing energy footprint of data centers. Facilities that once required tens of megawatts are now being developed at 100–200 MW scale, with hyperscale campuses increasingly aggregating demand into the gigawatt range.

 

This shift presents a structural challenge for Africa. While the continent is rich in energy resources, its planning frameworks remain largely oriented around incremental, megawatt-scale additions – often tied to localized demand or short-term capacity gaps. In the context of AI-driven infrastructure, this approach is increasingly misaligned with the scale and concentration of future demand.

Africa’s data center sector, while growing, remains at an early stage. Operational capacity currently stands at approximately 300–400 MW, with projections reaching 1.5–2.2 GW by 2030. At the same time, demand is accelerating rapidly: electricity consumption from data centers is rising at 20–25% annually and is expected to reach around 8,000 GWh in the near term. This growth mirrors a broader global surge, with data center power demand projected to approach 945 TWh by 2030, driven largely by AI workloads.

This is ultimately about aligning Africa’s energy strategy with where global demand is heading

What distinguishes AI-related demand is not only its scale, but its concentration and consistency. Unlike many traditional industrial loads, data centers require uninterrupted, high-quality power, often with built-in redundancy. This places new demands on grid design, prioritizing stability, capacity and long-term scalability over incremental expansion.

Meeting these requirements will require a departure from conventional planning models. Rather than adding capacity in small increments, there is a growing case for developing gigawatt-scale generation aligned with emerging digital infrastructure hubs. This means integrating power generation, transmission and data center development into coordinated investment strategies, particularly in markets with strong resource bases and improving regulatory environments.

It also requires a shift in how excess capacity is viewed. In many African power systems, surplus generation has historically been treated as a financial inefficiency. In the context of AI and digital infrastructure, however, maintaining a margin of available capacity can enhance grid stability, reduce outages and provide the flexibility needed to support rapid load growth, while creating a foundation for broader industrial development.

A useful benchmark can be seen in Northern Virginia, the world’s largest data center market, where installed capacity has now exceeded 4 GW and more than 1 GW of new supply was added in a single year, reflecting the rapid pace at which hyperscale infrastructure is being deployed. Driven by major cloud and AI players, demand has tightened the market significantly, with vacancy rates approaching zero and most new capacity released well in advance. The scale and speed of development highlight how quickly data center demand is expanding – and underscore the level at which infrastructure must be planned.

These dynamics are increasingly shaping the policy conversation. At African Energy Week 2026, the AI and Data Center Track will focus on the infrastructure required to support this transition, with a particular emphasis on aligning energy planning with digital economy objectives. As AI infrastructure scales, reliable and abundant power is no longer a supporting factor, but a prerequisite.

“This is ultimately about aligning Africa’s energy strategy with where global demand is heading,” says NJ Ayuk, Executive Chairman of the African Energy Chamber. “If we continue to plan in megawatts, we will struggle to compete in an economy that is already moving at the gigawatt scale. Building larger, more resilient power systems is not just about meeting demand – it is about creating the conditions for investment, innovation and long-term growth.”

Distributed by APO Group on behalf of African Energy Chamber.

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Telecoming Strengthens Its Presence in Africa with the Launch of DCB Software South Africa

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The company advances its regional strategy with a model built on AI, monetisation and direct connectivity with local operators

JOHANNESBURG, South Africa, May 11, 2026/APO Group/ –Telecoming (www.Telecoming.com), a global technology company specialising in the monetisation of digital services, announces the launch of DCB Software South Africa (www.DCBSoftwareZA.com), its new local subsidiary. The move reinforces the company’s growth strategy in Africa, one of the most promising markets in the mobile economy.

The new entity will be led by Javier de Corral, who will lead business development, establish partnerships with telecom operators and build a local team based in Johannesburg.

The South African launch builds on Telecoming’s existing footprint in the continent, where it already operates through its Algerian subsidiary, DCB Software Dzayer, further strengthening its regional position.

We are very excited about the opportunities in South Africa and committed to investing in its digital future

DCB Software South Africa will operate as a local hub focused on AI-driven digital services, supported by a team entirely based in the country. Its scope includes the development of digital products, mobile and web services, as well as solutions in digital entertainment and marketplaces, all built on scalable, multi-device platforms designed to ensure a seamless user experience.

The subsidiary combines in-depth knowledge of the South African and Sub-Saharan markets with direct access to telecom operators, digital platforms and local payment solutions. It will deploy multiple monetisation models, including Direct Carrier Billing (DCB), to optimise conversion rates and overall performance.

The launch of DCB Software South Africa marks a key milestone in our global expansion strategy”, said Cyrille Thivat, CEO of Telecoming. “We are very excited about the opportunities in South Africa and committed to investing in its digital future. With Javier de Corral at the helm, we are confident that this new subsidiary will not only drive our local growth but also contribute to the broader digital and AI ecosystem.”

Telecoming develops technology designed to enhance user acquisition, streamline payment processes and improve the performance of digital services. Its platforms integrate monetisation, advertising and user experience, leveraging artificial intelligence to deliver secure, scalable and efficient solutions.

This expansion reinforces Telecoming’s commitment to delivering innovative digital and AI services and strengthens its position as a key player in the African market. With this launch, the company takes another step in its international expansion, enhancing its ability to support the development of Africa’s digital ecosystem through advanced technology, local expertise and strategic partnerships.

Distributed by APO Group on behalf of Telecoming.

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Enlit Africa 2026 makes 20 May the Commercial and Industrial (C&I) delivery day across power, water and clean energy hubs

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Taking place 19–21 May 2026 at the Cape Town International Convention Centre (CTICC), Enlit Africa, created by VUKA Group, convenes utilities, municipalities, large energy users, financiers, developers and technology providers to focus on what shifts outcomes in African infrastructure

CAPE TOWN, South Africa, May 11, 2026/APO Group/ –Enlit Africa 2026 will put commercial and industrial delivery front and center on Wednesday 20 May with a dedicated line-up across the Power HubWater Hub and Renewable Energy & Storage Hub. The day is built for decision-makers who must keep operations running, secure reliable supply, manage risk and move projects from concept to implementation.

 

Taking place 19–21 May 2026 at the Cape Town International Convention Centre (CTICC), Enlit Africa, created by VUKA Group, convenes utilities, municipalities, large energy users, financiers, developers and technology providers to focus on what shifts outcomes in African infrastructure.

On 20 May, the programme is anchored by the keynote, “How a coordinated energy/water plan could change African resilience” (09:30–11:45), positioning water and energy as interlinked operational risks that can no longer be managed in silos. From there, the day breaks into practical tracks tailored for large users and the solution partners that support them.

In the Renewable Energy & Storage Hub, sessions focus on the realities of C&I adoption and delivery at scale, including “Project implementation for multi-megawatt C&I projects” (11:45–13:00) and “Clean energy adoption in the C&I market” (14:30–15:45), before turning to fleet electrification and operations with “Mobility: Management of electric vehicle fleets for C&I” (16:00–17:30).

In the Water Hub, the agenda targets the technologies and operating models that matter most to industrial continuity and compliance. Sessions include “Next-generation water treatment technologies” (11:45–13:00), “Advanced water treatment & smart water systems” (14:30–15:45) and “Accelerating water technology deployment for C&I operations” (16:30–17:30).

Together, the three stages create a single day of high-signal, implementation-led content for C&I leaders, utilities, municipalities and suppliers focused on operational performance, investment readiness and delivery discipline.

Distributed by APO Group on behalf of VUKA Group.

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