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“Africa will be the pivotal continent in the world, given its economic prospects”—African Development Bank Group President

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African Development Bank

Dr Akinwumi Adesina delivered an inspiring address to a diverse audience of diplomats, investors, academics, politicians, and media, emphasizing Africa’s untapped potential and abundant opportunities

LONDON, United Kingdom, June 11, 2024/APO Group/ — 

Financing is key to unlocking Africa’s development opportunities; Dr Adesina tells Chatham House: “Africa can no longer be ignored.”

In a packed auditorium at the renowned Chatham House, African Development Bank President Group Dr Akinwumi Adesina delivered an inspiring address to a diverse audience of diplomats, investors, academics, politicians, and media, emphasizing Africa’s untapped potential and abundant opportunities.

In his presentation on Friday, “Envisioning Africa’s Economic Prospects,” Adesina explained the reasons behind his optimism and passion for Africa.

The Bank Group president said Africa is a continent of tremendous opportunities. It is endowed with and characterized by a young, dynamic and vibrant workforce, massive renewable energy potential, abundant biodiversity resources, rapid regional integration and innovative solutions designed to unlock the continent’s vast natural capital.

Adesina outlined the resilience of Africa’s economies despite global challenges, noting that the continent remains the second-fastest-growing region after Asia. He cited the Bank’s African Economic Outlook Report (https://apo-opa.co/4aUEW5r), which shows the  the continent’s  3.7% economic growth for 2024, increasing to 4.3% in 2025. The report which was launched during the Bank’s May Annual Meetings in Nairobi revealed that 15 countries achieved real growth rates of at least 5 percent, and half of the world’s 20 fastest-growing economies are in Africa.

However, he said achieving strong economic prospects and resilience will require overcoming some significant headwinds, including tackling climate change and rising debt, and through critical global financial reforms.

“As Africa’s economic resilience is bolstered, unlocking its economic prospects requires ensuring structural change of its economies, raising the productivity of agriculture, provision of electricity, accelerating infrastructure investments, supporting faster pace digitalization, unleashing economic and job opportunities for women and youth, and driving industrialization through greater mobilization of the private sector,” he stated.

Addressing infrastructure and agricultural production, Adesina shared successes like the Bank’s flagship Technologies for African Agricultural Transformation (TAAT) program, which has helped 13 million farmers to increase crop productivity. In Ethiopia, the distribution of 65 metric tons of heat-resistant wheat has led to self-sufficiency in wheat production, covering 2.2 million hectares.

The event, attended by over 150 guests in person and hundreds more virtually, included diplomats from more than 18 African countries, the Commonwealth Secretariat, international financial institutions, private and corporate investors, startups, civil society, students and academics from some of the UK’s leading academic institutions and international media houses.

Adesina acknowledged challenges such as youth unemployment, poverty, debt vulnerability, and political instability but dispelled perceptions of Africa as a risky investment destination. He referenced a 14-year Moody’s Analytics study showing Africa’s low infrastructure loan default rate at 1.9 percent, compared to between 4.6 and 12.4 percent in other regions around the world.

He reiterated the Bank’s advocacy for an independent African credit rating agency to counteract misperceptions that lead to underinvestment due to excessive risk premiums. Quoting the United Nations Development Program, Adesina said fairer credit ratings for African countries could save at least $75 billion annually in debt service payments.

“The trajectory for Africa will be much stronger as we tackle these challenges, as well as improve security and expand more concessional financing and private sector financing,” he emphasized.

Repositioning the Bank to do more

As Africa’s economic resilience is bolstered, unlocking its economic prospects requires ensuring structural change of its economies

Adesina recalled the Bank Group shareholders’ recent approval of a $117 billion callable capital increase (https://apo-opa.co/3VqLXFE), raising the Bank’s total authorized capital to $318 billion to preserve its AAA credit rating and enhance its lending capacity. The approval announced during the just concluded 2024 annual meetings of the Bank will align the institution with the changing global financial architecture and enhance its support for the continent.

“We’re going to be bigger, bolder, and better,” he declared, predicting Africa’s rise as a pivotal global region.

Reflecting on the Bank’s achievements, Adesina highlighted the Bank’s successful launch of sustainable hybrid capital (https://apo-opa.co/3Vj4IKT), marking the first such issuance by a multilateral development bank in line with the G20 Capital Adequacy Framework recommendations to boost lending capacity. The transaction won global commendation, including from the G7 finance ministers (https://apo-opa.co/4aUEZOF) and central bank governors.

Adesina also cited the Bank’s Alliance for Green Infrastructure In Africa (AGIA), which the G7 has backed with a $150 million contribution (https://apo-opa.co/3Vgnq5X). AGIA is working to leverage $3 billion in private sector investment for green projects.

He also mentioned the $20 billion Desert-to-Power project in the Sahel to generate 10,000 megawatts of solar power for nearly 250 million people across 11 countries. When completed, it will be the largest solar zone in the world. In addition, Adesina and the President of the World Bank Group Ajay Banga recently announced a joint effort by their two institutions to connect 300 million Africans to electricity by 2030.

The Bank Group president praised the recent International Monetary Fund approval of $20 billion Special Drawing Rights channeling for hybrid capital in line with proposals by the African Development Bank and the Inter-American Development Bank.

“The African Development Bank is mobilizing more private sector investments into Africa. We supported the $24 billion LNG (Liquified Natural Gas) project in Mozambique, which will provide over $66 billion in revenue for Mozambique and make it the third-largest exporter of LNG in the world. We supported the $19.5 billion Dangote Refinery Complex, the largest single-train refinery in the world and the largest ammonia plant globally. We supported the $13 billion OCP phosphate company in Morocco, the largest phosphate fertilizer plant in the world,” he said.

He said these achievements have fuelled the Bank’s ambitions as reflected in its new ten-year strategy (2024-2033), which outlines the vision of an Africa that is prosperous, inclusive, resilient and integrated.

“Africa can no longer be ignored. I fully expect Africa to be the pivotal continent in the world, given its economic prospects,” he said.

He said that the future of energy transition for a world primarily powered by renewable energy will depend on Africa, which accounts for 25 percent of global biodiversity and contributes substantially to providing key minerals. According to African Development Bank estimates, Africa’s natural capital stood at $6.2 trillion in 2018, with mineral and fossil fuel resources alone valued at $290 billion and $1.05 trillion, respectively.

He said Africa must work out how to tap the potential of its youth, turning this asset into an economic dividend.

“We are supporting universities of science and technology, expanding training in science, technology, engineering and mathematics, centers of excellence in biotechnology and material sciences, as well as technical and vocational training. We have committed $700 million to education and skills development, which has supported 4,000 tertiary education and training facilities, and provided 1.7 million African youths with access to science, technology, engineering and mathematics education, providing critical digital skills in computer coding.”

He added that the African Development Bank is also focusing heavily on women. “The African Development Bank’s flagship initiative, Affirmative Finance Action for Women in Africa (AFAWA), is de-risking financial institutions to lend to women. It is working with 169 financial institutions in 43 countries and has so far approved $1.7 billion in financing for 18,300 women-led businesses. Our goal is to mobilize $5 billion for women-led businesses.”

He also mentioned the Africa Investment Forum, founded by the Bank group and seven other partners, saying it continues to provide a transparent platform for investors interested in Africa to meet, assess projects, evaluate risks, seek counter-risk mitigants, as well as address political risks to investors. Since the establishment of the Africa Investment Forum in 2018, it has attracted investor interests in Africa worth over $180 billion.

He expressed optimism that Africa’s prosperity is within reach and it will emerge as a pivotal continent: “Africa is critical to the future of the world. It’s a vision Africa deserves and it’s a vision we’ll achieve.”

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Energy

African Mining Week (AMW) 2026 to Position Junior Miners at the Forefront of Africa’s Mineral Evolution

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Energy Capital

The upcoming African Mining Week 2026 conference will unpack best practices to address financial, infrastructure and operational challenges as African junior miners scale their operations

CAPE TOWN, South Africa, May 14, 2026/APO Group/ –Africa’s estimated $8.5 trillion in untapped mineral wealth is increasingly being positioned as a junior miner-led opportunity, with smaller, more agile players playing a key role in unlocking the continent’s mining deposits. As governments and investors recalibrate exploration strategies, junior mining companies are emerging as the primary vehicles for converting underexplored resources into bankable projects.

 

Against this backdrop, the African Mining Week 2026 Conference and Exhibition will convene regulators, financiers and operators to examine how partnerships, capital access and execution models can shift juniors from the margins to the center of the continent’s mineral development strategy.

Taking place from October 14 – 16 in Cape Town, the event will feature a dedicated panel titled Collaboration for Growth: Unlocking Finance and Scale for Junior Miners. The session will highlight how governments are leveraging Public-Private Partnerships (PPP) to address high upfront capital requirements, limited infrastructure access and gaps in technical expertise constraining junior mining development.

The need for innovative financing solutions across Africa is increasingly apparent, with the continent’s share of global mineral exploration spending declining from 16% in 2004 to just 10.4% in 2024. In South Africa, exploration expenditure totaled R781 million in 2024, down sharply from a peak of R6.2 billion in 2006, underscoring the importance of stronger collaboration between governments and the private sector. In response, mineral-rich African countries are increasingly partnering with global investors to mobilize capital for exploration while supporting local content and beneficiation strategies.

One of the continent’s most prominent PPP models is the Junior Mining Exploration Fund (JMEF) launched by the Industrial Development Corporation of South Africa in partnership with the Department of Mineral Resources and Energy. In February 2026, the fund expanded to R2 billion, with Anglo American committing R600 million, demonstrating how coordinated public-private initiatives can strengthen financing for early-stage mining projects. Increased support through the fund has contributed to growth in South Africa’s junior and emerging mining sector, which recorded nearly 20% income growth in 2025.

Meanwhile, Zambia has introduced the Artisanal and Small-Scale Mining Fund following the enactment of the Geological and Minerals Development Act of 2025, aimed at expanding financing access for junior and small-scale miners. In 2026, the government allocated K449.5 million towards the fund, from a total K1.2 billion mining sector budget. The fund is expected to support junior miners as the country pursues its goal of increasing copper production to three million tons annually by 2030.

Similarly, the Democratic Republic of the Congo is strengthening partnerships with private sector investors, including Phoenix Capital and Eurasian Resources Group, to finance junior and artisanal mining operations as part of a broader strategy to unlock an estimated $24 trillion in untapped mineral resources.

Stepping into this picture, the AMW 2026 panel will explore the impact of PPP financing models, providing a platform for governments, investors and mining companies to develop solutions that scale exploration investment and accelerate the discovery of Africa’s next generation of mineral projects.

AMW serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2026 conference from October 12-16 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com

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

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Energy

African Mining Week (AMW) 2026 to Examine Energy-Mining Nexus as Africa Prioritizes Reliable Power

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The upcoming African Mining Week conference will bring together industry players and global investors to explore investment and partnership opportunities emerging at the intersection of energy and mining

CAPE TOWN, South Africa, May 14, 2026/APO Group/ –Mining is rapidly becoming a driver of power market development in Africa, as energy supply constraints reshape how projects are financed and executed. From renewables and storage to fuel logistics and transmission, operators are increasingly securing integrated energy solutions to sustain output and manage risk.

 

Against this backdrop, the African Mining Week (AMW) Conference and Exhibition – taking place October 14–16, 2026, in Cape Town – will convene global investors, energy developers and mining stakeholders to examine pathways for strengthening power infrastructure to support mining activities across the continent. The event will feature a dedicated panel titled Accelerating Mineral Production: The Energy-Mining Nexus, bringing together policymakers, utilities and mining companies to discuss investment, infrastructure challenges and strategies for scaling production.

The discussion comes at a time when energy availability is becoming the defining constraint – and enabler – of mining growth across Africa. As a result, many companies are partnering with energy providers to secure power deals.

One of the clearest examples of this is EDF power solutions – a joint venture (JV) between mining company Anglo American and energy company EDF. The JV is advancing a portfolio of renewable energy projects to power mining operations across South Africa. In mid-April, the company commissioned the 140 MW Umsobomvu facility as part of the broader 520 MW Koruson 2 cluster, following the earlier delivery of approximately 480 MW under the Koruson 1 cluster in early April. These projects are contributing to the decarbonization of mining operations by displacing coal-based grid electricity for miners such as Valterra Platinum, Kumba Iron Ore and De Beers.

Sibanye-Stillwater is also turning to renewable energy to optimize its operations. The company is advancing a 725 MW renewable energy portfolio secured via long-term power purchase agreements with developers including NOA Group, Red Rocket and Sola Group. These developments align with South Africa’s strategy to generate 40% of its electricity using renewables by 2030, a move aimed at lowering electricity costs and improving energy security for energy-intensive sectors such as mining.

Similar case studies are being seen across other mineral-rich provinces in Africa. In Zambia, First Quantum Minerals is advancing a 430 MW renewable energy project alongside Total Eren and Chariot Limited. The project will strengthen energy supply to the company’s mines, enabling First Quantum to contribute to a national target to increase copper output to three million tons by 2031.

Meanwhile, Eurasian Resources Group is investing in transmission infrastructure and cross-border power solutions between Zambia and the Democratic Republic of the Congo to stabilize energy supply for cobalt operations.

While renewables are scaling rapidly, mining companies are also reinforcing energy security through fuel agreements. In February 2026, Valterra Platinum signed a three-year fuel supply deal with TotalEnergies for its South African operations. Puma Energy and BHL Group have also launched a five-year fuel transport agreement moving supply between Namibia’s Walvis Bay and Zambian mining hubs.

As such, AMW 2026 comes at a pivotal time when energy and mining are no longer parallel sectors, but deeply interconnected growth engines. From renewables and transmission to fuel logistics and financing, the continent is witnessing a structural shift toward integrated energy–mining ecosystems. The AMW 2026 panel will spotlight how innovative partnerships, blended financing models and private-sector participation are accelerating both energy deployment and mineral production – positioning Africa to meet rising global demand while advancing its own industrialization agenda.

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

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Business

Trafigura Eyes $900M Aluminium Smelter as Egypt Accelerates Mineral Beneficiation Drive

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Energy Capital

African Mining Week 2026 will spotlight Egypt’s rapidly expanding mining value chain as the country accelerates a shift from raw mineral exports toward large-scale downstream industrialization and value addition

CAPE TOWN, South Africa, May 14, 2026/APO Group/ –Multinational commodities trader Trafigura, together with the Egyptian Aluminium Company and Metallurgical Industries Holding Company, has entered exclusive negotiations to co-finance and develop a major new aluminium complex in Egypt, marking one of the country’s most significant downstream metals investments to date.

 

The proposed project, valued between $750 million and $900 million, includes a 300,000-ton-per-annum aluminium smelter and a 150,000-ton-per-annum anode plant. It is designed to position Egypt more competitively in global aluminium supply chains at a time when geopolitical fragmentation and industrial realignment are pushing countries to localize and secure critical materials processing capacity.

Beyond serving international demand, the project aligns directly with Egypt’s industrial strategy to increase the mining sector’s contribution to GDP from around 1% today to 5-6% over the medium term, underscoring a clear policy shift toward value-added production rather than raw mineral exports.

The aluminium deal is also part of a wider acceleration in Egypt’s beneficiation strategy, with new partnerships emerging across phosphates, fertilizers and industrial minerals.

In April 2026, Misr Phosphate Company signed an agreement with Indorama Corporation to supply phosphate feedstock for a $525 million fertilizer complex in the Suez Canal Economic Zone at Sokhna. The first phase of the project is expected to produce around 600,000 tons annually, strengthening Egypt’s position in global fertilizer supply chains while increasing domestic processing capacity.

In parallel, El Sewedy Industrial Development and China’s Kunming Chuan Jin Nuo Chemical are developing a $1 billion integrated phosphate complex in the Sokhna Industrial Zone, further expanding Egypt’s downstream chemical and fertilizer ecosystem.

Chinese industrial group Xingfa Group has also outlined plans to invest up to $2 billion across phosphate exploration, extraction and chemical manufacturing in Egypt, reinforcing international confidence in the country’s industrial minerals strategy.

At the same time, Egypt is moving to strengthen its position in precious metals and refining. The Central Bank of Egypt, alongside the African Export-Import Bank, is advancing plans for a Pan-African Gold Bank initiative aimed at expanding local gold refining capacity, formalizing artisanal and industrial supply chains and reducing dependence on external refining hubs.

These projects signal a broader structural shift: Egypt is transitioning from a raw commodity exporter to a vertically integrated minerals and industrial processing hub, with downstream value creation at the center of its economic strategy.

Egypt’s accelerating beneficiation agenda will be a key focus at African Mining Week (AMW) 2026 – The Most Influential Mining Conference in Africa – where the country will feature through a dedicated Country Spotlight.

The forum brings together government representatives, regulators, global investors, mining companies, project developers and financiers to explore opportunities across Egypt and Africa’s expanding mining and industrial value chain.

As the country scales its downstream ambitions across aluminium, phosphates, fertilizers and gold, AMW 2026 will serve as a key platform for translating policy momentum into investment partnerships and project execution.

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

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