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Africa Finance Corporation Diversifies Shareholders with Equity from Côte d’Ivoire, Mauritius and AfricaRe

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Africa Finance Corporation

This fresh capital injection demonstrates how governments, pension funds and insurers are stepping up investment in Africa

LAGOS, Nigeria, December 12, 2022/APO Group/ — 

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, announces a boost to its share capital following a combined US$38 million equity injection from the government of Côte d’Ivoire, through the Ministry of Economy and Finance; the government of Mauritius, via the National Pension Fund (NPF) and National Savings Fund (NSF); and the Africa Reinsurance Corporation (AfricaRe).

This fresh capital injection demonstrates how governments, pension funds and insurers are stepping up investment in Africa, opening a multi-billion dollar pool of treasury, retirement and insurance assets to help address the continent’s infrastructure and industrial development needs.

Côte d’Ivoire

Côte d’Ivoire has benefited from over €700 million of investment from AFC in transformative projects, including the Henri Konan Bédié Bridge, a six-lane, 1.5 km toll bridge, and 6.6 km of access roads, which have improved traffic flow in Abidjan. The Corporation is also a financing partner to Société Ivoirienne de Raffinage (SIR), the largest and most sophisticated operational refinery in West Africa, acting as the sole mandated lead arranger of a €577 million debt financing facility as part of SIR’s successful long-term restructuring plan. Further funding from AFC is going into construction of the 44-MW Singrobo hydroelectric power plant, a project to increase Côte d’Ivoire’s overall power capacity, reduce generation costs and advance the renewable energy mix. AFC is also a lead investor in Côte d’Ivoire’s Integrated Industrial Platform (IIP), an industrial platform focused on agro-processing, notably cocoa, cotton and cashew, partnering with Arise IIP (an investee company of AFC) and the Ivoirian government.

“The significant level of investment in our country is proof that AFC lives up to its reputation as one of the leading infrastructure solution providers on the continent,” said Hon. Adama Coulibaly, Minister of Economy and Finance. “Becoming a shareholder is one of many steps to reinforce and solidify the relationship between the government of Côte d’Ivoire and the AFC. We are pleased to invest in AFC as the Corporation has proven its mandate as an African organization with a passion for infrastructure development – evidenced by the level of its investment in our country. We are happy to be associated with this pan-African success story.”

The significant level of investment in our country is proof that AFC lives up to its reputation as one of the leading infrastructure solution providers on the continent

Mauritius

The equity investment from the Mauritian National Pension and National Savings Funds supports AFC’s drive to attract capital from institutional investors, particularly pensions, national social security funds and sovereign wealth funds, that will play a major role in bridging the continent’s infrastructure financing deficit. The investment builds on AFC’s existing ties with Mauritius, where its subsidiaries, AFC Equity Investment Limited and AFC Capital Partners, are domiciled. As of 2021, AFC Equity Investment Limited held more than US$900 million of the Corporation’s equity investments, while AFC Capital Partners is the Corporation’s asset management company, focused on infrastructure and climate resilient investments with an initial US$500 million target fund size.

“As a pension fund that seeks to diversify away from traditional investments and seeks partnerships for long-term investment in infrastructure as an asset class, AFC presents the right platform to be able to achieve this. We are happy to join the Corporation’s shareholder base,” the management of the Mauritius funds said in a statement.  

AfricaRe

AfricaRe, which became the first multilateral financial institution to invest in AFC, has upsized its initial investment made in 2018. AfricaRe, the largest pan-African reinsurance institution, was established by 36 African states in 1976 to develop the insurance and reinsurance industry through increased underwriting and retention capacity.

AfricaRe Group Managing Director and Chief Executive Officer Corneille Karkezi said: “With its track record, and consistent return on our initial investment, upsizing is the next logical step for us at AfricaRe.”  

“This boost to our share capital enhances AFC’s mandate to provide African solutions to African challenges, funded by African capital,” said Samaila Zubairu, President and CEO of AFC. “Our goal is to put African assets to work in closing the infrastructure gap the continent faces. The equity investments endorse the Corporation’s role as one of the most significant development partners, driving transformative impact across the continent while delivering competitive returns.”

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

Business

Sheraton Nouakchott marks the entry of Marriott International in Mauritania

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Nouakchott

As Mauritania’s cultural and economic heart, Nouakchott offers visitors a glimpse into the serene beauty and rich heritage that define this remarkable Northwest African nation

We are proud to have brought Marriott International to Mauritania with the opening of Sheraton Nouakchott, the first internationally operated and branded hotel in the country

NOUAKCHOTT, Mauritania, April 10, 2026/APO Group/ –Sheraton Hotels & Resorts, part of Marriott Bonvoy’s (www.Marriott.com) portfolio of more than 30 hotel brands, recently celebrated the opening of Sheraton Nouakchott Hotel (https://apo-opa.co/4t3YGO4), marking the entry of Marriott International into a new territory, Mauritania. Since opening its doors, Sheraton Nouakchott has, positioned itself as a new hub for business, events and leisure in the Mauritanian capital.

 

Nouakchott, the capital of Mauritania, is a coastal city where tradition and modernity meet. Nestled between the vast Sahara and the Atlantic Ocean, it serves as a gateway to the country’s breathtaking natural landscapes, from golden dunes and tranquil oases to rugged coastlines and untouched desert plains. As Mauritania’s cultural and economic heart, Nouakchott offers visitors a glimpse into the serene beauty and rich heritage that define this remarkable Northwest African nation.

Ideally located near iconic landmarks such as the Marché Capitale and the National Museum of Mauritania, as well as Nouakchott’s beaches and fishing port — and just a short distance from the desert — Sheraton Nouakchott offers an ideal base from which to discover the destination.

“We are proud to have brought Marriott International to Mauritania with the opening of Sheraton Nouakchott, the first internationally operated and branded hotel in the country. Since welcoming our first guests, the hotel has quickly established itself as a destination for both travellers and the local community. This milestone underscores our commitment to delivering exceptional hospitality experiences in emerging markets, while celebrating the culture and character of each destination,” said Sandra Schulze‑Potgieter, Vice President, Premium, Select & Midscale Brands, Europe, Middle East & Africa, Marriott International.

Local design inspiration

Traditional crafts, from wood carving to metalwork, are woven throughout the hotel’s materials and furnishings, creating spaces that feel both rooted and refined. Every detail tells a story of local artistry, heritage and place, offering guests an immersive experience inspired by Mauritania’s cultural and natural beauty.

Inspired by the legendary landmarks along the Trans‑Saharan trade route, the hotel’s design blends regional heritage with contemporary elegance. The circular ceiling of Feast restaurant draws inspiration from the Richat Structure, also known as the Eye of Africa. Earthy tones and organic materials reference the dramatic landscapes of the Adrar Mountains, while patterns inspired by Chinguetti and Oualata are reinterpreted throughout guest rooms, public spaces and Bene restaurant.

Meeting spaces echo the stone architecture of Tichitt, one of West Africa’s oldest towns and a historic caravan hub.

Guest rooms and suites with local charm

Sheraton Nouakchott features 200 spacious guest rooms and suites, including two Presidential Suites, combining contemporary comfort with subtle local touches. All rooms are equipped with the latest technology and Sheraton signature amenities, including the iconic Sheraton Sleep Experience.

The Sheraton Club offers Marriott Bonvoy Elite members and Club guests an elevated, all‑day experience, with curated food and beverage offerings, premium amenities, enhanced connectivity and a private environment designed for both productivity and relaxation.

Local flavours meet international influence

The hotel features two restaurants, a Lobby Bar and a Pool Bar. Feast, the all‑day dining restaurant, serves locally inspired and international dishes made with seasonal ingredients. Bene offers an immersive Italian dining experience in a warm, inviting setting. The Lobby Bar provides a relaxed meeting point from morning coffee to evening gatherings, while the Pool Bar offers refreshing drinks and light bites by the outdoor pool.

 

Facilities offering a resort feel in the heart of the city

Despite its central urban location, Sheraton Nouakchott delivers a resort‑like atmosphere, centred around an expansive outdoor pool. Guests can maintain their fitness routines in the fully equipped fitness centre — featuring separate floors for women and men, hammam and sauna — or enjoy the outdoor tennis court. The Sheraton Spa features three treatment rooms, offering a peaceful retreat after a day of exploration or meetings.

Meetings & events curated to perfection

Sheraton Nouakchott offers more than 2,600 square metres of flexible Meetings & Events space, including a Grand Ballroom, a Ballroom and four additional meeting rooms. A signature Sheraton Community Table sits at the heart of the hotel, providing a welcoming space for informal meetings, remote work and collaboration. A dedicated events team ensures seamless delivery from concept to execution.

Gatherings by Sheraton

In line with Sheraton’s global community‑centred approach, Sheraton Nouakchott hosts Gatherings by Sheraton, curated weekly experiences designed around enrichment, renewal and local stories. Guests and locals can take part in Mauritanian mixology sessions using local mint tea and fruits, or storytelling evenings inspired by Saharan traditions.

Distributed by APO Group on behalf of Marriott International, Inc..

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African Energy Chamber (AEC) Supports Perenco Partnership to Advance Industry 4.0 Skills in Central Africa

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African Energy Chamber

The African Energy Chamber welcomes Perenco Cameroon and Perenco Gabon’s partnership with UCAC-ICAM to launch an Industry 4.0 lab, advancing local skills development and strengthening Africa’s industrial future

JOHANNESBURG, South Africa, April 9, 2026/APO Group/ –A new partnership between Perenco Cameroon, Perenco Gabon and the UCAC-ICAM Institute in Douala to establish an Industry 4.0 laboratory marks a significant step toward aligning academic training with the evolving needs of the energy and industrial sectors. The facility will give students access to advanced automation, digital simulation and smart production technologies, helping close the gap between academic learning and the practical, industry-ready skills required across Central Africa’s industrial landscape.

 

As the voice of Africa’s energy sector, the African Energy Chamber (AEC) welcomes the initiative as a scalable model for local content development. By equipping students with Industry 4.0 capabilities, the laboratory directly supports the Chamber’s mandate to ensure greater in-country value creation and workforce participation across Africa’s energy value chain. The initiative also addresses critical skills shortages, enabling operators to increasingly rely on locally trained talent.

 

Developing local skills is fundamental to building a competitive and sustainable energy sector in Africa

The partnership underscores Perenco’s long-term commitment to sustainable development and capacity building in Cameroon and Gabon. Designed as a mini-factory, the UCAC-ICAM laboratory enables students to engage with real-world industrial tools and processes. This hands-on approach will support the development of engineers and technicians capable of contributing to key projects, including operations in the Rio del Rey Basin and infrastructure developments such as the Cap Lopez LNG terminal in Gabon.

 

Students across multiple disciplines will benefit from hands-on exposure to the lab’s advanced technologies. General Engineering students will train using robotic systems and virtual reality simulations, while Computer Science Engineering students will focus on industrial IoT and smart technologies. Process Engineering students will gain experience in automated production systems, and Petroleum program students will develop expertise in energy systems and instrumentation control. Graduates from UCAC-ICAM are being actively recruited by leading companies operating in Douala, reflecting growing demand for locally trained, industry-ready talent.

“Developing local skills is fundamental to building a competitive and sustainable energy sector in Africa,” says NJ Ayuk, Executive Chairman of the AEC. “This partnership demonstrates how industry and academia can work together to create a highly skilled workforce that will drive Africa’s industrialization and energy future. It is exactly the type of initiative needed to ensure Africans play a leading role in developing the continent’s resources.”

The UCAC-ICAM laboratory represents a strategic investment in Africa’s industrial and energy future. By strengthening local capacity, advancing technology adoption and supporting independent operators, the initiative aligns with the AEC’s broader vision of a self-sufficient and globally competitive African energy sector.

Distributed by APO Group on behalf of African Energy Chamber.

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Business

Securing the bridge between legacy and smart

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DLMS

STS Association and DLMS User Association sign landmark Liaison Agreement to advance interoperable, secure and future-ready metering systems

CAPE TOWN, South Africa, April 9, 2026/APO Group/ –The recent Liaison Agreement between the STS Association and the DLMS User Association marks a pivotal step in the evolution of interoperable, secure and future-ready metering systems. By aligning STS token technology with the widely adopted DLMS/COSEM framework, this collaboration is set to bridge the gap between legacy infrastructure and next-generation smart metering. The partnership reflects a shared vision to enhance interoperability, strengthen smart prepayment integration, and unlock greater value across the global metering ecosystem.

 

STS Association, in partnership with ESI Africa (part of VUKA Group), and DLMS User Association, is hosting a free webinar on this topic:

Securing the bridge between legacy and smart

Thursday, 7 May 2026 | 11:00 AM – 12:00 PM

Register: https://apo-opa.co/4cfEUb5

What you will learn

Industry experts will unpack how this strategic alignment enables seamless integration between your trusted prepayment systems and advanced data exchange protocols. Attendees will gain insight into:

  • How STS tokens can be securely transported using DLMS/COSEM
  • The role of Generic Companion Profiles in enabling interoperability
  • How coordinated roadmaps will shape the future of token technology and smart metering
  • The expanding application of these standards beyond electricity into water, gas and time metering
  • Practical benefits for utilities, manufacturers and system integrators navigating the transition from legacy to smart environments

Introducing the Panel

Lance Hawkins-Dady – STSA Board Chairman

Franco Pucci – STSA Technical Consultant

Don Taylor – STSA Independent Director

Sergio Lazzarotto – DLMS User Association, President

Join STS Association and ESI Africa to explore how this landmark collaboration is securing the bridge between legacy systems and smart innovation. Discover how aligned standards can simplify integration, enhance security and future-proof your metering strategy.

Register now: https://apo-opa.co/4cfEUb5

Distributed by APO Group on behalf of VUKA Group.

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