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Africa Finance Corporation and Solid Minerals Development Fund of Nigeria Forge Strategic Partnership to Derisk Mining Industry

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Africa Finance Corporation

Through this partnership, AFC and SMDF aim to bridge this gap to unlock the immense potential of Nigeria’s mineral resources

ABUJA, Nigeria, October 17, 2023/APO Group/ — 

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure provider and the Solid Minerals Development Fund of Nigeria (SMDF), a Nigerian mining-focused development fund,  today on the sidelines of Nigerian Mining Week in Abuja, announced a transformative partnership aimed at derisking Nigeria’s mining sector and scaling up artisanal miners in the country to an industrial level of operation. This strategic collaboration, which follows a cooperation agreement signed by AFC and SMDF earlier in the year, is set to address the dearth of expertise and funding for early-stage mining projects, paving the way for these projects to reach financial close and full-scale operations.

Nigeria is rich in mineral resources and has immense potential for mining development. However, the lack of available expertise and funding has posed challenges in advancing mining projects. Through this partnership, AFC and SMDF aim to bridge this gap to unlock the immense potential of Nigeria’s mineral resources. By pooling their resources and expertise, these two leading institutions will not only provide investment opportunities but a joint project development facility that includes technical support, ensuring that promising mining projects receive the guidance and funding they need to thrive.

One of the key deliverables of this collaboration is the AFC-SMDF Investment Manual. This comprehensive document will offer project sponsors a clear understanding of how the joint project development facility operates, its objectives, and the specific requirements for project consideration. The manual will also feature an appraisal checklist outlining the criteria that both institutions require for project evaluation.

To streamline the project submission process, AFC and SMDF have created a dedicated portal for project sponsors. This portal will be managed by PricewaterhouseCoopers (PWC), a renowned global professional services firm, working with renowned Nigerian consulting firms, to screen and conduct initial evaluations. Subsequently, projects will be submitted to AFC and SMDF for further assessment.

This partnership between AFC and SMDF is a pivotal step toward harnessing Nigeria’s mineral wealth and positioning the nation as a key player in the global mining industry

To further improve the mining sector in Nigeria, AFC and SMDF have also engaged Wood Mackenzie, a leading global research and consulting firm, to undertake a comprehensive study assessing the feasibility of establishing a midstream processing plant in Nigeria. This study will focus on critical minerals such as Lithium, Nickel, and other energy transition metals abundant in the country. By evaluating the profitability and return potential of midstream and downstream mineral processing projects, the study will create a robust foundation for AFC and SMDF to deploy their balance sheets in order to further de-risk the investment landscape for potential investors.

Commenting on this groundbreaking partnership, Samaila Zubairu, President & CEO of AFC, stated, “The world needs African resources to fully transition to clean-energy in the long term, and more investment is required to sustainably mine and develop in-continent processing capacity for commodities that are critical to the energy transition. In this regard, we are excited to partner with the Solid Minerals Development Fund of Nigeria to derisk the country’s mining sector. This collaboration signifies our commitment to unlock the vast potential of Nigeria’s mineral resources by leveraging the wealth of our renewable energy sources for local processing, thus fostering sustainable development and economic properity in Nigeria and Africa.”

Fatima Umaru Shinkafi, Executive Secretary and CEO of Solid Minerals Development Fund, said: “We are pleased to deepen our cooperation with the AFC through collaborating on these strategic initiatives to support the Nigerian mining industry. I am incredibly grateful for the Honourable Minister’s support, which has been critical to developing these initiatives. These initiatives align with the Renewed Hope Agenda and the Ministry’s Transformation Agenda of leveraging the mining sector to catalyze economic growth, competitiveness, and job creation.”

This partnership between AFC and SMDF is a pivotal step toward harnessing Nigeria’s mineral wealth and positioning the nation as a key player in the global mining industry. Since 2014, the Corporation has invested more than $900 million in mining projects across Africa including the Segilola Gold Mine in Osun, Nigeria, the Karowe Diamond mine in Botswana and the Bon Ami bauxite project in north-western Guineas.

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

Business

Aurionpro expands its multi-country transaction banking engagement with Diamond Trust Bank (DTB)

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Aurionpro

Aurionpro’s upgraded iCashpro platform for DTB delivers a unified digital experience across payments, trade, virtual accounts, and real-time reporting, enhancing straight-through processing, visibility, and control for both the bank and its corporate customers

MUMBAI, India, April 30, 2026/APO Group/ –Aurionpro Solutions Limited (www.AurionPro.com) (BSE: 532668 | NSE: AURIONPRO)a global leader in banking technology, announced the expansion and upgrade of its transaction banking engagement with Diamond Trust Bank (DTB), to modernize and enhance the bank’s corporate transaction banking capabilities across multiple countries.

Download Document: https://apo-opa.co/4edHUaC

This multi-country transaction banking upgrade covering Kenya, Uganda, and Tanzania aligns with DTB’s intent to enhance customer experience, streamline operations, and support growing transaction volumes as it expands its regional corporate banking footprint. DTB continues to focus on building a more agile, ‘digital-first’ banking experience, particularly around payments for its corporate customers across Africa, and is now well positioned to scale these capabilities. As part of its broader transformation agenda, the bank has been steadily investing in platforms that enhance scale, reliability, and service consistency across markets.

Through this partnership, we are proud to lead the next era of transformation in transaction banking, helping DTB enhance operational agility

Aurionpro’s upgraded iCashpro platform for DTB delivers a unified digital experience across payments, trade, virtual accounts, and real-time reporting, enhancing straight-through processing, visibility, and control for both the bank and its corporate customers. By enabling DTB to standardize and scale its transaction banking operations across countries, the platform ensures consistent service levels, stronger control, and improved efficiency. It also supports enhanced user experience, advanced security, and the flexibility to introduce new features as DTB expands its regional transaction banking footprint.

Murali Natarajan (https://apo-opa.co/48trPdk), Managing Director & CEO, DTB Kenya   commented: “We are delighted to strengthen and broaden our partnership with Aurionpro Solutions as part of DTB’s ongoing digital transformation journey across multiple markets. Our focus on innovation, operational excellence, and customer-centricity continues to guide our technology investments. This upgrade strengthens our transaction banking capabilities, enabling us to deliver greater value to our customers through robust digital channels and seamlessly integrated experiences.”

Ashish Rai, Group CEO, Aurionpro Solutions, commented: “We are pleased to deepen our multi-country engagement with Diamond Trust Bank and support the next phase of its transaction banking modernization. As DTB continues to scale across markets, platform resilience and consistency become paramount. Through this partnership, we are proud to lead the next era of transformation in transaction banking, helping DTB enhance operational agility, deliver superior experiences to corporate customers, and create long-term value across geographies.”

He added, “Aurionpro’s iCashpro lays a strong digital foundation for transaction & wholesale banks across the globe to grow their corporate and SME client portfolio today, while creating a clear roadmap for next- generation capabilities in AI-driven insights, advanced automation and API-led connectivity for businesses in Kenya and across Africa.”

Distributed by APO Group on behalf of Aurionpro Solutions Ltd.

 

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Minerals Council Chief Executive Officer (CEO) Joins African Mining Week (AMW) as South Africa Improves Sectorial Investment Climate

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Energy Capital

Minerals Council CEO to share insights on policy, infrastructure and investment trends shaping South Africa’s mining industry

CAPE TOWN, South Africa, April 30, 2026/APO Group/ –The upcoming African Mining Week (AMW) conference will feature Mzila Mthenjane, CEO of the Minerals Council of South Africa, as a speaker. Scheduled for October 14 – 16, 2026 in Cape Town, the event will bring together global investors, policymakers and industry leaders, with Mthenjane’s participation highlighting the council’s commitment to engaging international stakeholders and promoting investment across South Africa’s mining sector.

His participation comes at a critical moment as the Minerals Council works closely with government on finalizing the Mineral Resources Development Bill 2025, a policy framework aimed at strengthening the country’s mining investment climate and the sector’s contribution to GDP. According to the council, the revised legislation will support new investment across the value chain as South Africa seeks to mobilize R2 trillion over the next five years to unlock its critical minerals potential.

The policy reforms come amid shifting production trends in the sector. In 2025, South Africa recorded declines in gold and platinum group metals output of 1.9% and 4.1%, respectively. The new regulatory framework is expected to strengthen public-private partnerships and stimulate investment, enabling South Africa to increase production and capitalize on strong global commodity prices. Increased private sector investments is crucial with South Africa seeking targeting to unlock an estimated R40 trillion in untapped iron ore potential as well as maintain its position as the world’s leading producer of chrome and manganese.

At AMW 2026, Mthenjane is expected to outline these trends, providing insights into how the council is contributing to addressing challenges disrupting the sector. Infrastructure and energy costs remain key concerns for industry players. To support the energy-intensive sector, South Africa approved a 35% reduction in electricity tariffs for major ferrochrome producers, helping stabilize an industry that has faced significant cost pressures after electricity prices surged by roughly 900% since 2008.

Logistics constraints are also a priority area for reform. South Africa’s economy is losing an estimated R1 billion per day due to inefficiencies across rail and port infrastructure. As a result, the government is considering measures supported by the Minerals Council to increase private sector participation in logistics. Planned reforms include rail modernization initiatives targeting 250 million tons of freight capacity by 2029, alongside port upgrades and private operator participation aimed at strengthening mineral exports and improving supply chain efficiency.

Beyond infrastructure and policy reforms, the Minerals Council is advocating for stronger exploration investment to support long-term industry growth.

At AMW, Mthenjane is expected to highlight these developments and outline the steps required to reinforce South Africa’s position in the global minerals supply chain. His insights will offer investors and stakeholders a timely perspective on opportunities within the country’s mining sector.

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

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Seychelles Targets Energy Investment Push as Minister Jérémie Joins African Energy Week (AEW) 2026 as a Speaker

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African Energy Chamber

Seychelles energy minister will speak at AEW 2026, positioning her to highlight reforms, renewable projects and investment opportunities as the island nation advances its transition toward a diversified energy system

CAPE TOWN, South Africa, April 29, 2026/APO Group/ –Marie-May Jérémie, Minister of Environment, Climate, Energy and Natural Resources for Seychelles will participate as a speaker at this year’s African Energy Week (AEW) 2026, taking place from October 12–16 in Cape Town. Her participation underscores the country’s growing role in shaping Africa’s small-island energy transition agenda.

Minister Jérémie’s presence at AEW 2026 comes at a critical time as Seychelles accelerates efforts to reduce its heavy reliance on imported fossil fuels. The event provides a platform to attract investment, strengthen policy alignment and showcase bankable projects, positioning the country as a viable destination for private-sector participation in island energy systems.

Seychelles is demonstrating how policy reform and innovation can unlock investment in constrained environments

In May last year, international finance institution the World Bank approved the Renewable Energy Acceleration Program, a seven-year initiative aimed at modernizing the grid and increasing renewable energy penetration to 15% by 2030. The program focuses on unlocking private capital while strengthening transmission infrastructure to accommodate variable renewable energy sources.

Project development is gaining traction in the country, particularly in innovative technologies suited to Seychelles’ land constraints. The 5.8 MW Seysun Lagoon floating solar PV project, developed by independent renewable power producer Qair, is under construction and expected online in 2026.

Alongside renewables, Seychelles continues to pursue upstream opportunities to diversify its economy. The government approved new exploration entrants in 2025 and extended exiting petroleum agreements, while securing an infrastructure partnership with China. Multilateral estimates suggest over $800 million in investment will be required over the next 25 years.

Regulatory reform is central to this transition, with Seychelles introducing an independent power producer framework to open the market to private developers. Standardized power purchase agreements, grid access reforms and strengthened public-private partnership structures are being implemented to improve transparency, reduce risk and accelerate project bankability across solar, storage and emerging wind opportunities.

“Minister Jérémie’s participation highlights the strategic importance of island nations in Africa’s broader energy transition,” says NJ Ayuk, Executive Chairman, African Energy Chamber. “Seychelles is demonstrating how policy reform and innovation can unlock investment in constrained environments. Her insights will be critical to advancing dialogue on resilient, low-carbon energy systems across the continent.”

Distributed by APO Group on behalf of African Energy Chamber.

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