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African leaders call for faster industrialization during African Union Summit

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Bazoum

Bazoum called on African countries to entrench the rule of law to catalyze the emergence of the African private sector

NIAMEY, Niger, December 1, 2022/APO Group/ — 

African leaders reviewed the continent’s progress in industrialization, economic diversification, and the African Continental Free Trade Area (AfCFTA) in the context of global shocks, debt vulnerabilities, climate change, and security concerns.

Twenty heads of state and government as well as their representatives attended the African Union Extraordinary Summit on Industrialization, Economic Diversification, and the AfCFTA in Niamey.

“Not so long ago, the juxtaposition of the words industrialization and Africa might have seemed incongruous. Today, the question it raises is mainly one of ways and means,” said Nigerien President Mohamed Bazoum, the summit’s host. “This in itself is proof that we are on the right track. A Nigerien proverb says, ” You cannot stop a river,” he added.

Bazoum called on African countries to entrench the rule of law to catalyze the emergence of the African private sector, unleash the energies of African entrepreneurs, and simplify the business environment.

“Inclusive, coherent, and sequenced industrialization that we want cannot be imposed and can only be achieved by creating synergies between the private and public sectors to empower small and medium sized enterprises and create quality jobs. .”

Bazoum added: “the youthfulness of the population and its growth, which are a challenge, can constitute an asset, provided the demographic transition is well-managed.”

His Nigerian counterpart, President Muhammadu Buhari. echoed the sentiment.  He said, “The African continent is blessed with a large youth population that can meet our labor shortages. Therefore, we need to tap into this abundant human resource by providing our youth with quality education that is relevant to their goals and meets the requirements of the labor market.”

For President Paul Kagame of Rwanda, the way forward on industrialization entails investment in energy and infrastructure.

We need to invest more of our national budgets in industrial policy, and significantly increase energy and infrastructure capacity

“The pace of industrialization in Africa is still too slow to achieve Africa’s development goals under Agenda 2063,” said Kagame. “We need to invest more of our national budgets in industrial policy, and significantly increase energy and infrastructure capacity.”

In a speech read on his behalf, African Development Bank President Akinwumi Adesina noted that free trade areas had brought prosperity worldwide not by trading low-value products, but by industrial production. “It is, therefore, clear that Africa’s prosperity must no longer depend on exports of raw materials but on value-added finished products,” he said.  Marie-Laure Akin-Olugbade,  African Development Bank acting vice president for Regional Development, Integration and Service Delivery, represented Dr. Adesina and delivered the speech on his behalf.

“Across Africa, we need to turn cocoa beans into chocolate, cotton into textiles and garments, coffee beans into brewed coffee,” Adesina said. He said the Bank was investing $25 billion to transform the continent’s agricultural sector and unlock the agribusiness market, which is expected to reach $1 trillion in value by 2030.

The Bank chief also detailed efforts to develop spheres that will boost Africa’s industrialization and economic diversification, including the energy, health, natural resources, and pharmaceutical sectors.

“Africa has an abundance of natural resources, oil, gas, minerals and metals, as well as a vast blue economy that needs to be rapidly industrialized,” Adesina said. “The future of electric cars in the world depends on Africa, given its vast deposits of rare mineral resources, including lithium-ion, cobalt, nickel and copper. The size of the electric vehicle market has been estimated at $7 trillion by 2030 and $46 trillion by 2050. Building precursor facilities for lithium-ion batteries in Africa will cost three times less than in other parts of the world,” he said.

During the summit, the African Development Bank, the African Union, and the United Nations Industrial Development Organization launched (https://bit.ly/3Ul8mBC) the inaugural Africa Industrial Index.  The joint report showed that 37 out of 52 African countries have industrialized over the past 11 years. The study provides a country-level assessment of the progress made by the 52 African countries based on 19 key indicators.

The 19 indicators in the index cover manufacturing performance, capital, labor, business environment, infrastructure, and macroeconomic stability. The index also ranks the level of industrialization of African countries along various dimensions such as capital, labor endowments, , institutions, infrastructure, and macroeconomic stability, amongst others.

South Africa has maintained a very high ranking throughout the 2010-2021 period, followed closely by Morocco, which is in second place in 2022. Egypt, Tunisia, Mauritius and Eswatini complete the top six over the period.

The report will help African governments to identify benchmark countries to better assess their own industrial performance and adopt best practices more effectively.

During the summit, heads of state also reviewed the pace of operationalization of the African Continental Free Trade Area, which came into force in January 2021 as well as its linkages to industrialization.

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

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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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