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Cameroon’s Caisse Nationale de Prévoyance Sociale (CNPS) and SBM in Mauritius invest in Africa Finance Corporation‘s impact infrastructure mission

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SBM joins a long list of investment-grade rated shareholders of AFC and is the second investor from Mauritius, following a subscription from the National Pensions Fund and Savings Fund in 2022

LAGOS, Nigeria, June 20, 2023/APO Group/ — 

Africa Finance Corporation (www.AfricaFC.org), the leading infrastructure solutions provider in Africa, has received new equity investments from Caisse Nationale de Prévoyance Sociale (CNPS), Cameroon’s public pension fund, and SBM Capital Market Securities Ltd., one of the leading investment-grade financial services providers in Mauritius, further expanding its shareholder base.

The investments mark a trend of African institutional investors—including pension funds, insurance companies and financial institutions—diversifying their portfolios from traditional asset classes such as bonds and listed equities to work with AFC on closing the continent’s infrastructure gap and unleash prosperity.

CNPS is the biggest pension fund in Cameroon, tripling its profits over the last five years; while SBM Capital Market Securities is a subsidiary of SBM Holdings Ltd., one of the largest and most diversified financial services providers in Mauritius, with nearly US$8.3 billion in assets under management. SBM joins a long list of investment-grade rated shareholders of AFC and is the second investor from Mauritius, following a subscription from the National Pensions Fund and Savings Fund in 2022.

Institutional investors in AFC include Public Investment Corporation (PIC) of South Africa, the Seychelles Pension Fund and the National Pension Fund (NPF) and National Savings Fund (NSF) of Mauritius. AFC offers shareholders risk-adjusted exposure to African infrastructure, with strong returns, low correlation to traditional asset classes, long-term stable and predictable cash flows, inflation hedging properties, and low default rates. The Corporation recorded an outstanding performance in its latest financial year, growing total assets by 23% to US$10.5 billion and increasing profit by 36% to US$285.9 million.

Our investment will contribute to AFC’s efforts in fostering more robust pan-African collaboration to accelerate inclusive and sustainable economic growth across the continent

Diversifying the shareholder base with institutional investors like CNPS and SBM provides a significant boost to AFC’s capital profile, enhancing the Corporation’s capacity to deliver de-risked, transformational infrastructure projects. Recent projects include a joint development agreement with Trans Connexion Congo (TCC) to build mass transit in Kinshasa to improve mobility across the DRC, and the development of a Special Economic Zone (SEZ) with ARISE IIP and the government of Sierra Leone to maximize value capture and import substitution across core sectors.

In Cameroon, AFC has invested over US$300 million to date in infrastructure projects including the Nachtigal Hydro Power Company, a 420MW power station that will boost Cameroon’s installed capacity by 30% and slash the cost of power generation, and the modernization and expansion of Cameroon’s national refinery, Société Nationale de Raffinage (Sonara). Along with the equity investment, CNPS has signed an MOU with AFC to collaborate on identifying, developing and financing infrastructure and industrial projects in Cameroon.

The investment from SBM builds on existing ties between AFC and Mauritius, the domicile for subsidiaries AFC Equity Investment Limited and AFC Capital Partners. As of 2022, AFC Equity Investment Limited held more than US$1 billion 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.

The Director General of the CNPS, Noël Alain Olivier Mekulu Mvondo Akame, commented: “CNPS’s investment in AFC is in line with continued efforts to diversify our investment portfolio. We are proud to partner with a multilateral financial institution like AFC with an excellent track record of delivering transformational infrastructure projects with sustainable impact in Africa, whilst maintaining a prudent risk profile.”

Shailen Sreekeessoon, Executive Director and Chief Executive Officer of SBM (NBFC) Holdings Ltd., said: “We are delighted to partner with AFC, which has a proven history of leading innovative solutions for infrastructure and industrial development whilst creating strong values for its shareholders. Our investment will contribute to AFC’s efforts in fostering more robust pan-African collaboration to accelerate inclusive and sustainable economic growth across the continent. We are confident that this investment will help reinforce the partnership between our two institutions and look forward to a fruitful partnership ahead.”

Samaila Zubairu President & CEO, Africa Finance Corporation said: “African institutional investors play a critical role in mobilising the capital urgently needed for the continent’s development, so we warmly welcome CNPS and SBM Capital Market Securities as equity investors in AFC. This milestone is proof of AFC’s role as the partner of choice for infrastructure investment on the continent to deepen economic integration, enable import substitution, and develop Africa’s manufacturing and industrial capacity.”

AFC has been profitable every year since inception, growing from the initial seed capital of US$1.1 billion to a balance sheet size of about US$10.5 billion today. The Corporation’s A3 investment-grade rating from Moody’s has been reaffirmed nine years in a row, making AFC one of the highest-rated financial institutions in Africa. The Corporation has 40 member countries and has disbursed US$11.5 billion in critical infrastructure projects across Africa over the last 16 years of operation.

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

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Morocco: African Development Bank Mobilises €205 Million to Extend High-Speed Rail Line and Strengthen the Kingdom’s Mobility and Logistics Competitiveness

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By improving travel flow between the Kingdom’s major economic and urban hubs, the project will promote more sustainable mobility and enhance territorial connectivity

RABAT, Morocco, July 9, 2026/APO Group/ –The Board of Directors of the African Development Bank Group (www.AfDB.org) approved €205 million in financing for Morocco to support the implementation of the Rail Infrastructure Development Support Project (PADIF) on 8 July.

 

The operation aims to strengthen the capacity and operational performance of the Kenitra–Marrakech railway corridor, which carries a significant share of the country’s passenger and freight traffic. It will do so by extending the high-speed rail line (HSR) and upgrading the existing railway infrastructure along this strategic corridor.

 

By improving travel flow between the Kingdom’s major economic and urban hubs, the project will promote more sustainable mobility and enhance territorial connectivity.

 

Beyond its positive impact on mobility, the project will support the transition to more sustainable and environmentally friendly transport modes and deliver significant economic benefits by reducing travel times and logistics costs.

 

In the long term, it will strengthen Morocco’s logistics competitiveness and reinforce its role as a strategic hub linking Europe and Africa

“By combining the extension of the high-speed rail line with the modernisation of existing infrastructure, this operation will help accommodate growing passenger and freight traffic, facilitate trade flows, and reduce travel times,” said Achraf Tarsim, Head of the African Development Bank Group’s Country Office in Morocco. “In the long term, it will strengthen Morocco’s logistics competitiveness and reinforce its role as a strategic hub linking Europe and Africa.”

 

The project includes the acquisition of equipment to modernise railway infrastructure along the Kenitra–Marrakech corridor and around the Casablanca rail hub. This includes the supply of new rails and track components for conventional rail lines and the high-speed network, to increase corridor capacity and sustainably improve operational performance.

 

PADIF also incorporates a project management support component covering project ownership, engineering supervision, and the monitoring and evaluation of results and impacts, ensuring effective implementation.

 

By contributing to the development of resilient, sustainable, and high-value-added infrastructure, the operation is fully aligned with the African Development Bank Group’s Four Cardinal Points (https://apo-opa.co/4vWv2Mb) and the institution’s 2024–2029 Country Strategy Paper for Morocco. It also supports Morocco’s New Development Model and the Rail 2040 Plan, which aims to modernise the national railway network.

 

Since 1978, the African Development Bank Group has mobilised nearly €15 billion to finance more than 150 projects and programmes in Morocco. Its interventions (https://apo-opa.co/4wd803P) span strategic sectors, including transport, social protection, water and sanitation, energy, agriculture, governance, and the financial sector.

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

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Institute for the Management of State Assets and Holdings (IGAPE) Launches Initial Public Offering (IPO) of Angola’s Largest Telecommunications Company

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The transaction comprises the sale of 7,500,000 ordinary registered book-entry shares, representing 15% of UNITEL’s share capital, each with a nominal value of AOA 5,000.00

LUANDA, Angola, July 9, 2026/APO Group/ –The Institute for the Management of State Assets and Holdings (IGAPE) (https://IGAPE.MinFin.Gov.ao), acting as the selling shareholder, launched the Initial Public Offering (IPO) of a 15% stake in UNITEL, marking one of the largest capital market transactions ever undertaken in Angola.

 

The transaction comprises the sale of 7,500,000 ordinary registered book-entry shares, representing 15% of UNITEL’s share capital, each with a nominal value of AOA 5,000.00. Upon completion of the offering, all 50,000,000 shares, representing the company’s entire issued share capital, are expected to be admitted to trading on the Angola Debt and Securities Exchange (BODIVA).

The final offer price will be determined within a price range of AOA 36,036.00 to AOA 40,040.00 per share. The price will be set following the bookbuilding process, based on investor demand during the subscription period.

The IPO comprises two tranches. The Employee Offering reserves 1,000,000 shares, representing 2% of UNITEL’s share capital, for preferential subscription by eligible employees. The General Public Offering comprises 6,500,000 shares, representing 13% of the company’s share capital, together with any shares remaining unsubscribed under the Employee Offering.

The subscription period opens at 2:00 p.m. on 6 July and closes at 3:00 p.m. on 24 July 2026, allowing retail, corporate and institutional investors to participate in what is expected to be a landmark transaction for Angola’s capital market.

Investors may submit subscription orders through the participating financial intermediaries: BFA Capital Markets, Áurea SDVM, Distribuidora Valor SDVM, Eaglestone SDVM, Standard Invest SDVM and Hemera Capital Partners Securities. Orders may also be placed through Banco Caixa Geral Angola and Banco de Fomento Angola via their branch networks, digital platforms, websites, telephone banking services and email.

With more than 21 million customers and operations across all 18 provinces of Angola, UNITEL has been the country’s leading telecommunications operator for the past 25 years. The IPO provides Angolan citizens and investors with the opportunity to become shareholders in one of the country’s most established companies and to participate in its future growth while supporting the continued development of Angola’s capital market.

Distributed by APO Group on behalf of Institute for the Management of State Assets and Holdings (IGAPE).

 

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Ancient Port, New Voyages: Ningbo’s Smart Manufacturing Expands Global Trade Footprint via Maritime Silk Road

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COLOMBO, SRI LANKA- Media OutReach Newswire – 9 July 2026 – On July 4, 2026, the cultural exchange event Encounter & Insight: Dialogue Between Ningbo, China and Colombo, Sri Lanka took place in Colombo.

Separated by thousands of miles, the two millennia-old port cities reconnected, leveraging their ports as a bond and cultural exchanges as a cohesive force to hold in-depth talks on integrated port-city development and bilateral economic and trade connectivity.

This cross-Indian Ocean dialogue echoes the ancient Maritime Silk Road while charting a brand-new outbound development path. As a pivotal starting port of the ancient Maritime Silk Road, Ningbo is building a new global trade landscape powered by smart manufacturing.

A thousand years ago, merchant vessels from Mingzhou Port set sail southward loaded with Yue Kiln celadon porcelain, passing through Ceylon to deliver Oriental crafts across the Indian Ocean coasts. Precious gemstones and spices traveled the same sea route back to regions south of the Yangtze River, laying the groundwork for the earliest cultural exchange between the two ports through trade. Today, the cargo carried by giant cargo ships has undergone a dramatic transformation. Beyond traditional daily necessities, intelligent equipment, digital home appliances and industrial robots now dominate shipments.

Official statistics show that Ningbo’s exports of intelligent equipment, including mechanical arms and industrial robots, hit 440 million yuan in 2025, surging more than 40% year-on-year. From January to May this year, Ningbo’s exports of mechanical and electrical products maintained steady growth, reaching 247 billion yuan, a 4.1% year-on-year increase and accounting for 58.0% of the city’s total export volume. The new energy foreign trade sector saw explosive growth, with exports of new energy vehicles, lithium batteries, and photovoltaic products jumping 138.4% year-on-year, with electric vehicle exports skyrocketing 215.9%. Smart manufactured goods are continuously expanding the scope of Ningbo’s foreign trade.

Complementing the Colombo forum, an exhibition highlights Ningbo’s outstanding going-global enterprises and their products, vividly illustrating the profound shift in Ningbo’s trade structure.

Alongside time-honored Maritime Silk Road staples such as celadon porcelain and silk, Ningbo’s smart manufactured products—including AI translation glasses, intelligent outdoor gear and digital small home appliances—occupy prominent display spaces across the venue. In Sri Lanka, Ningbo smart water meters are widely adopted nationwide, while handheld cooling fans and intelligent kitchen appliances have entered ordinary households.

Leveraging Colombo Port’s transshipment advantages, massive volumes of Ningbo smart manufactured goods are distributed onward to Europe, the Middle East and beyond. What Ningbo exports today is no longer mere commodities, but a complete outbound solution integrating technology, brand value and after-sales services.

Faced with mounting challenges including homogeneous global market competition and rising trade barriers, Ningbo’s manufacturing sector has abandoned the old model of low-cost OEM production, relying on intelligent transformation to consolidate its competitive edge in overseas markets.

Over more than a decade of digital transformation efforts, Ningbo has achieved full digital upgrading of all industrial enterprises above designated size. A large number of local factories have built unmanned black-light workshops and flexible production lines, escaping vicious price competition through continuous technological iteration. Represented by five specialized, sophisticated, distinctive and innovative enterprises dubbed Ningbo’s “Five Little Tigers”—famous for their core proprietary technologies, including highly sophisticated visual inspection equipment, heat-resistant materials, sun-proof coatings, puncture-proof materials and self-drilling fasteners—these niche manufacturers have developed differentiated technical routes and full-spectrum production capacity, cementing irreplaceable competitiveness for Ningbo smart manufacturing on global markets.

Beyond trade expansion, Ningbo has built a supporting cultural communication system to ensure “products go global, accompanied by local culture”.

The launch of Sri Lanka’s first “One-Meter Cultural Space” cultural station during the Colombo event marks a tangible milestone of Ningbo’s go-global initiative. Built on enterprises’ overseas outlets, these miniature cultural exhibition halls integrate intangible cultural heritage crafts, urban stories and smart products, enabling overseas clients to experience cutting-edge manufacturing while gaining insight into Ningbo’s profound cultural heritage.

During the twin-city story-sharing session, Ningbo entrepreneurs based in Sri Lanka and local designers blending Chinese and Sri Lankan aesthetics shared stories of bilateral exchanges. Economic and trade ties have evolved into a bond for people-to-people communication, bridging divides in cross-cultural trade.

From Tang-dynasty celadon porcelain sailing across the Indian Ocean to intelligent equipment shipping to every corner of the globe, Ningbo, the ancient Maritime Silk Road port, has preserved its enduring gene of openness. Where exchanges once relied purely on commodity trade, today smart manufacturing underpins a stable, diversified and high-value-added global trade network.

The Ningbo-Colombo dialogue stands as a vivid microcosm of this transformation: the port still links lands and seas, yet the core of its trade has undergone a full intelligent upgrade.

Rooted in its historical legacy as a key Maritime Silk Road hub, Ningbo has consolidated its industrial foundation through a decade of digital development, expanded global market reach via worldwide port networks, and softened trade cooperation through cultural exchanges. This brand-new outbound shipping route forged by smart manufacturing has not only reshaped the city’s foreign trade landscape, but also delivered a replicable port-city development model for Chinese manufacturing to go global.

 

 

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