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Africa’s renewable energy resources offer huge investment opportunities for Japanese business – Dr Akinwumi Adesina

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renewable energy

Adesina commended the Japanese government and private sector for their strong support to Africa’s development

TUNIS, Tunisia, August 29, 2022/APO Group/ — 

Japanese businesses should invest more in Africa, where investment opportunities and returns on investment are among the highest in the world, African Development Bank (www.AfDB.org) President Dr. Akinwumi Adesina urged participants at the 8th Tokyo International Conference on African Development (TICAD8).

Adesina commended the Japanese government and private sector for their strong support to Africa’s development.

He told Japanese businesses to assess Africa’s investment opportunities based on facts and evidence, and not on perceptions.

The Bank group head said: “In 2020, Moody’s Analytics performed a 10-year cumulative assessment of global infrastructure debt default rates, by region. It found that Africa was the region with the second lowest cumulative default rate, after the Middle East. That is proof once again that infrastructure as an asset class in Africa is solid, secure, and profitable.”

Twenty African heads of state are attending the conference in the Tunisian capital of Tunis from the 27th to 28th of August.

Japanese officials and business leaders, and heads of international organizations are also taking part in the conference.

Speaking by video link, Japanese Prime Minister Fumio Kishida said Japan had achieved its goal of contributing $20 billion to Africa within the private sector, a goal it had set at TICAD7 in 2019. Kishida also announced new commitments. He said Japan “will provide co-financing of up to $5 billion, together with the African Development Bank, in order to improve the lives of African people.”

Senegal’s President Macky Sall said Japanese corporations have the “technological and financial capacity needed to set up partnerships in Africa in sectors such as infrastructure, transportation and housing.”

Deputy Secretary General of the United Nations Amina J. Mohammed commended the foresight of Japan’s leadership in establishing TICAD in 1993. She warned about the scale of the challenges currently facing Africa, adding “Thanks to platforms such as TICAD, we already have the partnerships in place to respond to these challenges in solidarity.”

The African Union Commission’s Chairperson Moussa Faki Mahamat lauded Japan for its efforts to build African capacity through education and training. He praised a Japanese initiative that has trained over 1000 young Africans in nutrition.

Japan had achieved its goal of contributing $20 billion to Africa within the private sector, a goal it had set at TICAD7 in 2019

The African Development Bank chief said African countries would require significant financial resources to cope with the impacts of Covid-19, accelerating climate change and Russia’s war in Ukraine.

“This is the time to strongly support the African Adaptation Acceleration Program to mobilize $25 billion for climate adaptation for Africa, especially as we look forward to Cop-27 in Egypt,” Adesina said. 

He said the Bank’s African Emergency Food Production Facility, launched in May 2022, was providing $1.13 billion for 24 countries in financing an expected $1.5 billion for emergency food production. The African Development Bank fast-tracked approval of the facility earlier in 2022 to avert a potential food and fertilizer crisis arising from the war in Ukraine.

Adesina thanked Japan for its contribution to the facility. “I am delighted that the Japan International Cooperation Agency (JICA) has provided additional co-financing of $518 million to support the facility.”

During a forum for the business community, Adesina named two spheres where he hoped to see increased Japanese engagement with Africa, namely bilateral trade and investment. He said that Africa accounted for just 0.003% of Japan’s $2 trillion in global foreign direct investment.

Adesina stressed that Japanese firms which were bold in their investments in Africa were those that were prospering. He gave the example of Toyota Tsusho’s investment in automobile factories in South Africa, which had generated $8.5 billion in revenues in March of 2022. Others, he said, included Komatsu and Mitsubishi Heavy Industries.

Citing Africa’s youth, entrepreneurism and innovativeness, Adesina said: “Africa is home to a vibrant fintech ecosystem that is leading the continent’s digital revolution with the highest potential to lead the world. The continent is home to 576 fintech start-ups and they are run by young people.”

Adesina named other vital investment sectors including the production of lithium batteries that power electric vehicles, agribusiness and renewable energy, including from hydropower, wind and geothermal sources.

TICAD8 also included the signing ceremony for 91 memoranda of understanding that Japan’s government and businesses have agreed on with African corporations or governments.

The pacts included projects across all five regions of Africa to develop human resource technical skills and green hydrogen, water desalination and geothermal solutions.

Adesina had a bilateral meeting with the President of the Japanese International Cooperation Agency (JICA) Tanaka Akihito and the Governor of Japan Bank for International Cooperation Nobumitsu Hayashi. He also attended a bilateral meeting with the leaders of the Keidanren, a Japanese economic organization representing businesses and industrial and regional associations. The meetings centered on the need for closer cooperation on investment, including co-financing for key projects, trade and opportunities for Japan’s private sector. Discussions also covered the upcoming 16th replenishment of the African Development Fund, the African Development Bank Group’s concessional lending window.

TICAD, which takes place every three years, is organized by the government of Japan, the United Nations, the United Nations Development Programme, the African Union Commission, and the World Bank.

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

Business

SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

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Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

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South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

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Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

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Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

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Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

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