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Luxembourg and African Development Bank deepen partnership to advance Africa’s sustainable growth

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Luxembourg

Luxembourg’s collaboration with the Bank extends beyond concessional financing

ABIDJAN, Ivory Coast, November 10, 2025/APO Group/ –African Development Bank Group (https://www.AfDB.org) President Dr Sidi Ould Tah and Luxembourg’s Finance Minister, Gilles Roth, have pledged to deepen cooperation as preparations advance for the seventeenth replenishment of the African Development Fund (ADF-17), the Bank Group’s concessional financing window.

 

The two leaders met on the sidelines of the 2025 World Bank and International Monetary Fund Annual Meetings in Washington, D.C. It was their first official bilateral meeting since Dr Ould Tah took office in September.

Discussions reaffirmed the long-standing partnership between the two institutions and their shared commitment to multilateral cooperation and Africa’s economic transformation. The talks highlighted Luxembourg’s continued support for sustainable and inclusive growth across Africa’s most vulnerable economies.

Africa’s development needs remain considerable, particularly in areas such as education, energy, technology, infrastructure and the fight against climate change

Luxembourg remains one of the world’s leading contributors of official development assistance, consistently allocating 1% of its gross national income to development cooperation – well above the 0.7% target recommended by the United Nations and the OECD Development Assistance Committee. Under ADF-16, Luxembourg’s contribution amounted to €12.7 million, a 10% increase over the previous cycle, reflecting the country’s confidence in the Fund’s impact, particularly in climate action, governance, gender equality, and private sector development.

“Africa’s development needs remain considerable, particularly in areas such as education, energy, technology, infrastructure and the fight against climate change,” said Minister Roth. “Luxembourg’s financial centre, with its expertise in sustainable finance and impact investing, is well placed to channel private capital toward these priorities. We will continue working alongside the African Development Bank to strengthen Africa’s investment environment and build a more equitable, resilient, and sustainable future.”

Dr Ould Tah welcomed Luxembourg’s continued support, describing it as “a steadfast partner” of the African Development Bank Group. “Luxembourg has been a steadfast partner to the African Development Bank Group. Its leadership in sustainable finance and its commitment to effective multilateralism continue to make a real difference across the continent,” the Bank Group president stressed. “As we move toward the ADF-17 pledging session in December, Luxembourg’s partnership will be key to mobilising resources that drive resilience, inclusion, and shared prosperity, delivering impact that extends well beyond Africa’s borders.”

Luxembourg’s collaboration with the Bank extends beyond concessional financing. The country also contributes to the Bank Group’s Capital Markets Development Trust Fund, where it was one of two founding donors — and to the Africa Digital Financial Inclusion Facility, both aimed at promoting financial innovation, broadening access to markets, and strengthening Africa’s private investment ecosystem.

Since its creation in 1972, the African Development Fund has financed nearly 3,000 projects totalling more than $45 billion, connecting communities and improving access to clean energy, food, education, and healthcare across 37 African countries, almost half of which are fragile or conflict-affected.

The ADF-17 cycle seeks to mobilise additional resources for transformative investments that create jobs, strengthen resilience, and unlock Africa’s economic potential, thereby contributing to global stability and advancing shared prosperity.

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

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Spiro Appoints Former Indofast Energy Chief Executive Officer (CEO) Anant Badjatya as Group CEO to Lead its Next Phase of Growth

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Anant joins Spiro with more than two decades of leadership experience across India, the Middle East and Africa

DUBAI, United Arab Emirates, June 9, 2026/APO Group/ —

  • Following its most recent landmark US$215 million equity raise, Spiro is strengthening its leadership team to execute its next phase of pan-African expansion and appoints Anant Badjatya as Group CEO of Spiro.
  • Anant Badjatya previously spearheaded Indofast Energy, the IndianOil × SUN Mobility joint venture, where he built one of India’s largest battery-swapping networks with more than 1,800 stations serving approximately 90,000 vehicles daily.

Spiro (http://www.Spironet.com), Africa’s leading electric mobility company, today announced the appointment of Anant Badjatya as Group Chief Executive Officer.

Anant will consolidate the Group’s strategic initiatives and guide the company through its next chapter of growth and execution in mobility, energy and tech

Anant joins Spiro with more than two decades of leadership experience across India, the Middle East and Africa, building and scaling businesses across electric mobility, energy and industrial sectors.

Most recently, he served as CEO of Indofast Energy, the joint venture between IndianOil and SUN Mobility, where he led the development of one of India’s largest battery-swapping networks, comprising more than 1,800 stations and serving nearly 90,000 vehicles daily.

The appointment comes at a pivotal moment for Spiro following its landmark US$215 million financing round, one of the largest investments ever made in Africa’s electric mobility sector. Anant’s broad mandate will span battery swapping, leasing, logistics, energy, and vehicle manufacturing.

Gagan Gupta, Founder and Chairman of Spiro said: 

As Spiro is accelerating on its mission to transform mobility across Africa through clean, affordable and accessible electric transportation solutions, Anant will consolidate the Group’s strategic initiatives and guide the company through its next chapter of growth and execution in mobility, energy and tech.”

Commenting on his appointment, Anant Badjatya said:

Africa represents the most exciting frontier for electric mobility.  Spiro has built a unique platform and is exceptionally well positioned to accelerate the transition to cleaner and more accessible mobility across the continent. I look forward to working with our teams, partners and stakeholders to drive the next phase of growth and impact.

Distributed by APO Group on behalf of Spiro.

 

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Gwede Mantashe Joins African Energy Week (AEW) 2026 as South Africa’s Petroleum Reforms Open the Orange Basin to Drilling

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A new petroleum law and the prospect of fresh Orange Basin drilling is resetting South Africa’s upstream, and Minister Mantashe is taking the AEW host nation’s case to the global market

CAPE TOWN, South Africa, June 8, 2026/APO Group/ –Gwede Mantashe, Minister of Mineral and Petroleum Resources of the Republic of South Africa, has been confirmed as a featured speaker at the upcoming African Energy Week (AEW) 2026 Conference and Exhibition, where he is expected to lay out the reform agenda reshaping the country’s upstream oil and gas sector and its drive to convert long-stranded offshore gas into production.

 

South Africa is pursuing one of the most significant upstream overhauls in its history, anchored by a new law that gives oil and gas their own regulatory regime for the first time. The reforms position the host nation as both a destination for exploration capital and a future producer along an Atlantic margin that has drawn the world’s largest oil companies to the region.

At the center of the shift is the Upstream Petroleum Resources Development Act (UPRDA), which President Cyril Ramaphosa signed into law in October 2024. The Act separates petroleum from the mining statute that has long regulated both sectors. It also creates a single petroleum right covering exploration and production along with a 20% carried interest for the state. The UPRDA awaits a presidential proclamation to take effect, and implementing regulations that went through a further round of industry comment in early 2026 are now being finalized.

A clear petroleum framework and a credible state partner are what international capital needs to commit to the Orange Basin

Mantashe has emerged as the most forceful advocate for accelerating the sector. He has long-argued that South Africa must shift from importing refined products to producing its own, warning that dependence on foreign supply leaves the economy exposed to global price shocks. This shift becomes increasingly more importance in the current global climate, where supply security has become a major challenge – particularly for import-reliance economies such as South Africa. As such, Mantashe has repeatedly pressed for faster licensing and fewer legal delays to exploration. AEW 2026 is a key platform to bring this discussion to a global audience.

“South Africa has the geology for exploration. Now it is building the regulatory certainty it needs to turn discoveries into bankable projects,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “A clear petroleum framework and a credible state partner are what international capital needs to commit to the Orange Basin.”

Offshore, TotalEnergies – operator of Block 3B/4B in the Orange Basin – is preparing to begin drilling in South African waters in 2026 pending final regulatory approvals. The acreage sits on trend with the Venus discovery in neighboring Namibia, where TotalEnergies is developing the basin’s first oil project.

Onshore, momentum is building in Mpumalanga, where gas developer Kinetiko Energy’s Amersfoort project has logged sustained high-flow results and is advancing plans for an LNG pilot plant. Mantashe has also signaled that government is moving to lift the long-standing moratorium on shale gas development, with the Petroleum Agency of South Africa (PASA) estimating recoverable Karoo reserves at 209 tcf.

Mantashe is also expected to report on successes of the South African National Petroleum Company (SANPC), the state entity formed in May 2025 through the merger of PetroSA, iGas and the Strategic Fuel Fund. Positioned as the country’s petroleum champion, SANPC is intended to anchor state participation across the value chain as South Africa works toward 6 GW of gas-fired power by 2030.

As AEW 2026 prepares to convene policymakers, investors and operators at the Cape Town International Convention Centre from October 12-16, Mantashe’s address carries added weight as the host nation’s signal to the market. His message is expected to be direct: South Africa is open for upstream investment and ready to move from potential to production.

Distributed by APO Group on behalf of African Energy Chamber.

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Mining Review Africa expands coverage to include global mining news

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The expanded editorial scope aligns with Vuka Group’s commitment to delivering timely, relevant and insightful content that supports informed decision-making across the mining value chain

CAPE TOWN, South Africa, June 8, 2026/APO Group/ –Vuka Group’s Mining Review Africa (https://WeAreVUKA.com), a leading source of mining industry news and insights, is expanding its editorial coverage to include major mining developments from around the world.

 

While Mining Review Africa remains firmly committed to reporting on the opportunities, challenges and successes shaping Africa’s mining sector, readers will now also benefit from coverage of international projects, investments, technologies, commodity markets and policy developments influencing the global mining industry.

The move reflects the increasingly interconnected nature of the mining sector, where developments in one region can have significant implications for investment decisions, supply chains, commodity markets, and mining operations worldwide.

Expanding our coverage enables us to deliver a more comprehensive view of the mining industry while maintaining our strong focus on Africa

“As the mining industry continues to evolve on a global scale, our readers are seeking greater context around international developments that impact Africa and the wider resources sector,” said Mining Review Africa Editor-in-Chief, Gerard Peter.

“Expanding our coverage enables us to deliver a more comprehensive view of the mining industry while maintaining our strong focus on Africa.”

Readers can expect enhanced reporting on major mining projects, mergers and acquisitions, sustainability initiatives, technological innovation, critical minerals, energy transition developments and regulatory changes from key mining jurisdictions worldwide.

The expanded editorial scope aligns with Vuka Group’s commitment to delivering timely, relevant and insightful content that supports informed decision-making across the mining value chain.

Mining Review Africa has established itself as a trusted voice within the African mining industry, providing news, analysis and thought leadership for mining professionals, investors, suppliers and policymakers. By broadening its coverage, the publication aims to give readers a deeper understanding of the global forces shaping the future of mining, while continuing to place African mining stories at the centre of its reporting.

For readers, this means access to a wider range of industry intelligence, bringing together African mining news and key international developments on a single trusted platform.

Distributed by APO Group on behalf of VUKA Group.

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