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Cabo Verde Inaugurates Major Expansion of Cabeolica Wind Farm and Battery Storage, Enabled by Africa Finance Corporation’s (AFC) Catalytic Financing

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Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, today announced the inauguration of the expanded Cabeolica Wind Farm and Battery Energy Storage System (BESS) in Cabo Verde- an achievement made possible through AFC’s catalytic €55million bridge financing provided in 2024. The ceremony, officiated by Prime Minister Ulisses Correia e Silva, marks a major step forward in the country’s renewable energy ambitions.

 

AFC’s early financing enabled rapid implementation, bringing the expansion and BESS online sooner to enhance grid stability, support renewable integration, and advance Cabo Verde’s emissions-reduction and energy-security objectives. The expansion delivers 13.5 MW of new wind capacity on Santiago alongside 26 MWh of battery storage across four islands, significantly enhancing the stability and resilience of Cabo Verde’s national grid. The BESS is already contributing to improved frequency regulation and higher renewable penetration, reducing curtailment and strengthening energy security across the archipelago.

 

Since 2010, AFC has been a majority investor in Cabeolica S.A, supporting its evolution into one of Cabo Verde’s strongest corporate institutions and the first commercial-scale renewable PPP in sub-Saharan Africa. Over the past decade, the company’s 25.5MW wind farms across four islands have generated more than 800,000 MWh of affordable electricity, contributing approximately 25% of the country’s total power generation while offsetting over 560,000 tonnes of CO₂ emissions. With this new phase, Cabeolica further consolidates its role as a cornerstone of the country’s clean-energy system.

 

Cabeólica is again proud to partner with AFC to lead this transformative expansion project comprising additional wind capacity and battery energy storage

The newly inaugurated BESS, expected to reach nearly 30 MW of storage capacity upon final completion in January 2026, marks a significant advancement in stabilising Cabo Verde’s grid, allowing greater integration of intermittent renewables and reducing dependency on imported fossil fuels. AFC’s bridge financing was pivotal in fast-tracking construction activities and ensuring alignment with the Government’s clean-energy delivery timelines, while long-term financing from senior lenders, including the African Development Bank and the European Investment Bank, is being finalised.

 

“From the early days of the Cabeolica project to this milestone inauguration, AFC’s mission has remained unwavering: to catalyse renewable energy solutions that enhance the reliability and resilience of power systems across Africa,” said Samaila Zubairu, President & CEO of Africa Finance Corporation. “Our innovative financing accelerated this expansion, and the successful integration of new wind capacity with one of the continent’s most advanced grid-stabilising battery storage systems stands as a clear testament to AFC’s position as Africa’s leading infrastructure solutions provider,” he added.

 

Ayotunde Anjorin, Chairman of Cabeólica and Chief Financial Officer of AFC said: “As the first renewable energy commercial scale PPP in sub-Saharan Africa, Cabeólica is again proud to partner with AFC to lead this transformative expansion project comprising additional wind capacity and battery energy storage. This project underscores the Cabeólica’s deep commitment to delivering reliable, clean energy infrastructure in line with national goals and priorities and continues to set a replicable model for the region.”

 

AFC is committed to accelerating Africa’s energy transition, by deploying capital, expertise, and innovative solutions that strengthen grids, enhance energy security, and drive climate-resilient growth across the continent. Most recently, the Corporation’s portfolio company, Infinity Power, Africa’s largest independent renewable energy provider, reached financial close on the 200MW Ras Ghareb Wind Farm in Egypt, which will power over 300,000 homes.

 

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

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African Mining Week (AMW) to Unlock Zimbabwe’s $12B Mining Vision Through Direct Investor Partnerships

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Etu Energias

A dedicated country spotlight at African Mining Week 2026 will showcase regulatory reforms and project developments across Zimbabwe’s mining value chain

CAPE TOWN, South Africa, June 25, 2026/APO Group/ –African Mining Week 2026 – The Most Influential Mining Conference in Africa – will connect Zimbabwean regulators and mining stakeholders with global investors to advance partnerships, as the country accelerates efforts to build a $12 billion mining industry by 2030.

Taking place from October 14 – 16 in Cape Town, AMW 2026 will feature a dedicated Zimbabwe Country Spotlight, showcasing lucrative opportunities across the country’s mining value chain. The country spotlight will feature high-level panel discussions, exclusive networking sessions and project showcases, connecting global investors and service providers with senior decision-makers from the Ministry of Mines and Mining Development of Zimbabwe, the Chamber of Mines of Zimbabwe and leading mining companies operating across the country.

The spotlight comes at a pivotal moment for Zimbabwe, as the country seeks fresh capital to unlock value from more than 60 known mineral occurrences spanning gold, lithium, platinum group metals, chrome, coal and rare earths.

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In a major move to improve investment competitiveness, Zimbabwe reduced mining-related license and permit fees in May 2026, lowering operational costs for investors while streamlining market participation. Registration fees for dealing in precious stones have been reduced from $15,000 to $10,000, while export permit fees have been cut from $1,875 to $500. New licensing categories – including permits for gold jewellery manufacturing and lithium processing plants – have also been introduced as part of a broader strategy to promote investments across in-country value addition projects. The reduction in fees for beneficiation projects follows the April 2026 introduction of export quotas for lithium concentrates ahead of a planned 2027 ban on concentrate exports. The shift is already reshaping the country’s lithium industry, with Zhejiang Huayou Cobalt achieving Zimbabwe’s first export shipment of lithium sulphate salts in April 2026.

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Coming into this picture, AMW 2026’s Zimbabwe Country Spotlight will provide investors with direct insights into these evolving regulatory frameworks, highlighting emerging investment and partnership prospects in lithium processing and across the mining value chain.

Zimbabwe’s gold sector is also positioned for renewed growth amid sustained high global gold prices (averaging $5,000 per ounce). In line with this momentum, Zimbabwe’s sovereign wealth fund, Mutapa Investment Fund, is seeking $250 million to expand gold mining operations. Against this backdrop, AMW 2026 offers a timely platform for investors to engage with one of Africa’s most prospective brownfield gold markets and explore opportunities across exploration, mine expansion and processing infrastructure.

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AMW 2026’s strong emphasis on artisanal and small-scale mining (ASM) formalization also aligns closely with Zimbabwe’s national mining development strategy. In May 2026, Zimbabwe certified 300 small-scale miners following completion of training programs safety, compliance and productivity. Supported by funding from Mutapa Gold Resources – a subsidiary of Mutapa Investment Fund – the initiative aims to train and formalize 1,500 ASM players.

 

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As the official platform where Africa’s mining opportunities are discussed and maximized, AMW 2026 will provide stakeholders with market intelligence on Zimbabwe’s evolving mining landscape and investment outlook.

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

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Nigeria Accelerates $750B Mining Vision Ahead of African Mining Week (AMW) 2026

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Etu Energias

African Mining Week will showcase opportunities within Nigeria’s mining value chain as the country seeks capital to unlock its $750 billion worth of untapped mineral deposits

CAPE TOWN, South Africa, June 24, 2026/APO Group/ –Nigeria’s mining sector is entering a new phase of growth as regulatory reforms, downstream investments and international partnerships strengthen investor confidence in one of Africa’s largest untapped mineral markets. The country’s solid minerals sector has secured approximately $3 billion in investments over the past three years, reflecting growing investor confidence as the West African nation seeks to bridge the financing gap hindering large-scale mining development.

 

The investment milestone comes as Nigeria deepens engagement with investors to unlock its estimated $750 billion in untapped mineral resources. The country is targeting an increase in mining’s contribution to GDP to 10%, creating lucrative investment opportunities for global mining industry players.

These developments come as African Mining Week (AMW) 2026 – Africa’s Most Influential Mining Conference, taking place in Cape Town from October 14-16 – prepares to showcase Nigeria’s expanding project pipeline and investment opportunities. Through dedicated country sessions, project showcases and executive networking, the event will connect international investors with Nigerian policymakers, mining companies and service providers driving the country’s mining transformation.

Nigeria’s expanding investment pipeline is a testament to its drive to strengthen partnerships. In June 2026, indigenous company Romulus Mining announced plans to increase investments across its gold and lithium portfolio from approximately $50 million to $150 million over the next three years, underscoring growing private sector confidence in the country’s mining outlook.

A partnership deal signed with Turkey in May 2026 is expected to support cooperation in geological exploration, mining technologies, digitalization and capacity building, while creating new opportunities for Turkish investment and technical expertise across Nigeria’s mining value chain.

Meanwhile, the advancement of several downstream projects – including a $600 million lithium processing facility in Nasarawa State and a $200 million lithium processing plant in Abuja – underscores Nigeria’s commitment to boosting mineral production and supporting industrialization.

Amid these developments, AMW 2026 provides a timely platform for investors seeking to capitalize on one of Africa’s most promising mining markets. The event will facilitate strategic partnerships that support exploration, mineral processing and long-term industry growth, reinforcing Nigeria’s ambition to develop a $1 billion economy by 2030 on the back of its mining industry.

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

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Uganda’s $500B Growth Ambition Puts Mining Reform and Critical Minerals in Focus at African Mining Week (AMW) 2026

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Etu Energias

African Mining Week will connect Ugandan stakeholders with global investors, fostering discussions on the future of mining in the East African country

CAPE TOWN, South Africa, June 24, 2026/APO Group/ –As Uganda accelerates its Ten-Fold Growth Strategy aimed at expanding its economy from $59.3 billion to $500 billion by 2040, the African Mining Week (AMW) 2026 conference will serve as a key platform to connect the country’s mining sector with global capital and technical partners.

 

AMW 2026 – scheduled for October 14-16 in Cape Town – will feature a dedicated Uganda Country Spotlight, showcasing emerging investment opportunities across the mining value chain as well as ongoing regulatory reforms designed to improve the country’s investment climate.

AMW comes as a critical time for Uganda as the country advances its Mining and Minerals (Amendment) Bill 2026 to improve investor protections, licensing efficiency, local content participation and the mining sector’s contribution to GDP. The country spotlight offers a platform for Ugandan authorities to pitch global investors on streamlined licensing, new incentives and emerging investment prospects.

Uganda is also finalizing preparations for its 2026/2027 oil and mineral exploration licensing round, designed to unlock new greenfield opportunities across the critical mineral sector. AMW will highlight emerging investment opportunities in cobalt, copper, iron ore, graphite, and rare earths as Uganda prioritizes critical minerals to achieve 8% annual economic growth through 2030.

In the gold sector, Uganda is advancing formalization and industrialization initiatives, integrating artisanal and small-scale miners (ASGM) – who account for 90% of gold production – into the formal economy. The launch of three-year Domestic Gold Purchase Program and the commissioning of the Wagagai Gold Project and refinery reinforces Uganda’s strategy to boost local value addition and strengthen its gold industry ecosystem.

The Uganda Country Spotlight at AMW 2026 will convene regulators, project developers, mining companies, financiers and global service providers to shape the future trajectory of Uganda’s mining sector.

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

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