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

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AFC

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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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

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

 

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Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

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Etu Energias

As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

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

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Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

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Energy

The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

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

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