Connect with us
Anglostratits

Business

Nigeria: African Development Bank and Infrastructure Credit Guarantee Company Limited sign $15 million agreement to enhance infrastructure financing

Published

on

African Development Bank

InfraCredit is a specialized Nigerian credit guarantee company that mobilizes long-term capital from institutional investors to support infrastructure projects

LAGOS, Nigeria, June 22, 2024/APO Group/ — 

The African Development Bank (www.AfDB.org) and Infrastructure Credit Guarantee Company Limited (InfraCredit) have signed an agreement for a $15 million subordinated loan facility to strengthen InfraCredit’s capital base and attract institutional investors’ resources to help close Nigeria’s infrastructure financing gap.

Lamin Barrow, Director General of the African Development Bank’s Nigeria Country Department, and Chinua Azubike, CEO of InfraCredit, signed the agreement in Lagos on 14 June 2024.

The facility will boost  InfraCredit’s efforts to unlock additional long-term local currency financing through the capital markets for infrastructure projects, primarily by leveraging pools of capital from pension funds and other institutional investors in the West African country.

The success of InfraCredit has inspired the replication of its business model across the continent, a key part of our strategy for scaling up private sector financing in Africa

InfraCredit is a specialized Nigerian credit guarantee company that mobilizes long-term capital from institutional investors to support infrastructure projects, including green and climate-aligned developments.

Barrow expressed the Bank’s satisfaction with this operation. “Our support to institutions such as InfraCredit demonstrates the importance of promoting innovative and scalable solutions to leverage pools of capital from domestic institutional investors, and position local capital market as a viable alternative source of long-term funding to bridge the continent’s huge infrastructure deficit, he stated.”

In his comments, Azubike said, “We are delighted by AfDB’s confidence in our business model, which has successfully facilitated private sector investment in impactful infrastructure projects and InfraCredit’s clean energy roadmap that has accelerated green finance for climate-aligned infrastructure, fostering SME growth, job creation, sustainable energy access, and overall economic development. Despite challenging market conditions, we have consistently demonstrated strong fundamentals, solid portfolio performance, a proven track record, and profitability. The further expansion of our capital base by this facility will bolster our ability to support access to long-term local currency domestic credit for our rapidly growing pipeline of infrastructure projects currently worth over NGN 839billion ($579million), fostering job creation and economic growth.”

Solomon Quaynor, Vice President for Private Sector, Infrastructure and Industrialization of the African Development Bank Group, stated, “The African Development Bank is pleased to be providing additional capital to InfraCredit Nigeria. The success of InfraCredit has inspired the replication of its business model across the continent, a key part of our strategy for scaling up private sector financing in Africa. This is evidenced by our support for the establishment of a similar institution in Kenya covering the East Africa region.”

The partnership advances several strategic objectives under the Bank’s current country strategy for Nigeria, including stimulating local currency bond market financing across key infrastructure sectors and enhancing economic diversification and competitiveness.

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

Energy

Mining Investment Leaders from Guinea, Egypt and Nigeria to Headline African Mining Week (AMW) 2026

Published

on

Senior government officials will highlight the strategies driving exploration, mineral beneficiation and investment across three of Africa’s most dynamic mining jurisdictions

CAPE TOWN, South Africa, August 4, 2026/APO Group/ –Senior government officials leading mining reform and investment initiatives in Guinea, Egypt and Nigeria have been confirmed as keynote speakers at African Mining Week (AMW) 2026, where they will outline the policies, projects and opportunities reshaping Africa’s mineral sector.

Taking place October 14-16 in Cape Town, AMW 2026 – The Most Influential Mining Conference in Africa – will convene government leaders, mining executives and investors to examine the strategies driving the continent’s next phase of resource development.

Confirmed keynote speakers include Daouda Diakite, Senior Advisor to the Minister, Ministry of Mines and Geology, Republic of Guinea; Yasser Ramadan, Chairman of the Egyptian Mineral Resources and Mining Industries Authority (MRMIA); and Martins Imonitie, Managing Director and CEO of the Nigerian Mining Corporation. Their keynote presentations will highlight national strategies to expand exploration, strengthen mineral beneficiation and attract investment across three of Africa’s most dynamic mining jurisdictions.

AMW 2026 comes as African governments accelerate reforms, expand exploration and prioritize value addition to unlock greater economic returns from the continent’s vast mineral resources. The conference will provide a platform for policymakers and industry leaders to discuss how these strategies are creating new opportunities across the mining value chain.

Guinea represents one of Africa’s most ambitious mining growth stories. Through its Simandou 2040 strategy, the government is leveraging its world-class iron ore and bauxite resources to drive industrialization, infrastructure development and economic diversification. Earlier this year, Guinea introduced its Planning Law and Program Law, reforms designed to strengthen long-term economic planning and improve the investment climate across the mining sector and wider economy. With more than 122 strategic projects seeking investment and an estimated $200 billion required to deliver its national development agenda, Guinea is positioning mining as a catalyst for broader economic transformation.

Egypt is also accelerating efforts to position mining as a key pillar of economic growth through expanded exploration and mineral beneficiation. In March 2026, the MRMIA launched the country’s first nationwide airborne geophysical survey in more than four decades through a partnership with Xcalibur Smart Mapping, supporting a new phase of mineral exploration and resource development. Egypt is also expanding downstream processing capacity through initiatives such as a proposed gold refinery with Afreximbank and new investments targeting value addition across gold, iron ore, phosphate and other strategic minerals.

Nigeria, meanwhile, is strengthening its mining industry as part of a broader strategy to diversify its economy beyond oil and gas. The country has attracted more than $2.6 billion in mining investment over the past two years, supported by major mineral discoveries including a world-class polymetallic province in Kaduna State containing platinum, gold, nickel, copper and rare earth elements, as well as an estimated 3.3 million metric tons of lithium resources near Abuja. With 44 identified mineral commodities and a renewed focus on attracting private capital, Nigeria is positioning mining as a major engine of long-term economic growth.

By bringing together senior policymakers from three of Africa’s fastest-evolving mining markets, AMW 2026 will offer delegates first-hand insight into the reforms, investment priorities and development strategies shaping the future of the continent’s mining industry.

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

Continue Reading

Energy

Welligence Joins African Energy Week (AEW) 2026 as Associate Partner as Data-Driven Exploration Advances

Published

on

African Energy Chamber

As exploration accelerates across Africa, Welligence will bring data-driven insights on licensing, investment and basin competitiveness to AEW 2026

CAPE TOWN, South Africa, August 4, 2026/APO Group/ –Market intelligence company Welligence Energy Analytics has been confirmed as an Associate Partner of the African Energy Week (AEW) Conference and Exhibition, taking place on October 12–16, 2026 in Cape Town. The company’s partnership reflects the growing importance of data, analytics and market intelligence in guiding investment decisions across Africa’s evolving oil and gas sector.

 

Africa’s upstream sector is entering a new phase of growth, with frontier exploration, offshore discoveries and LNG developments expanding investment opportunities across the continent. As governments compete for exploration capital, demand is growing for high-quality commercial intelligence, basin analysis and licensing data to support investment decisions. AEW 2026 provides Welligence with a platform to engage directly with policymakers, operators, financiers and project developers driving Africa’s next wave of energy investment.

Welligence is helping governments and investors better understand Africa’s resource potential, evaluate opportunities and deploy capital more effectively

Welligence has established itself as a leading provider of upstream data, commercial analysis and market intelligence, supporting governments, operators and investors with asset valuations, basin intelligence, licensing analysis, emissions analytics and commercial benchmarking across global energy markets. Its research and advisory services are increasingly helping stakeholders identify high-potential investment opportunities while improving the competitiveness of African upstream markets.

This expertise is reflected in the company’s January 2026 report, Sub-Saharan Africa: What to Look for in 2026, which identifies Uganda, Kenya, Namibia and Zimbabwe among Africa’s highest-potential frontier markets, while highlighting continued investment opportunities in deepwater and LNG developments across Nigeria, Angola, Mozambique, Namibia and Tanzania.

Beyond market analysis, Welligence has expanded its advisory work across West Africa, supporting governments on licensing rounds, mergers and acquisitions, exploration campaigns and fiscal competitiveness. These services are helping countries strengthen acreage marketing strategies, improve bid-round participation and position their hydrocarbon resources more effectively to international investors. As producers including Nigeria, Ghana, Ivory Coast and Angola pursue ambitious exploration and production targets, data-driven investment promotion is becoming an increasingly important component of attracting upstream capital.

“In today’s upstream market, access to reliable data is a competitive advantage. Welligence is helping governments and investors better understand Africa’s resource potential, evaluate opportunities and deploy capital more effectively. Their participation at AEW 2026 reflects the growing role that market intelligence plays in driving investment across the continent,” stated NJ Ayuk, the Executive Chairman of the African Energy Chamber.

As Africa’s premier energy event, AEW brings together the policymakers, operators, financiers and service providers shaping Africa’s next generation of oil and gas projects. The participation of companies such as Welligence reflects the growing importance of market intelligence in supporting informed investment and commercial decision-making across the sector.

Distributed by APO Group on behalf of African Energy Chamber.

Continue Reading

Energy

Maurel & Prom to Showcase African Growth Strategy at African Energy Week (AEW) 2026 as Bronze Partner

Published

on

African Energy Chamber

As a Bronze Partner, Maurel & Prom will participate in high-level panel discussions, exclusive networking and project showcases, highlighting the company’s investment strategy and contribution to the growth of Tanzania, Gabon and Angola’s energy sectors

CAPE TOWN, South Africa, August 3, 2026/APO Group/ –French independent exploration and production company Maurel & Prom (M&P) has been confirmed as a Bronze Partner of African Energy Week (AEW) 2026, taking place in Cape Town from October 12–16. The company’s participation comes as it accelerates an African growth strategy centered on brownfield optimization, gas monetization and strategic asset expansion across Gabon, Tanzania and Angola, reinforcing its position as a key partner in advancing Africa’s energy security and production growth.

M&P arrives at AEW 2026 following a series of operational and financial milestones that strengthen its long-term investment outlook. On July 10, the company secured a $465 million five-year syndicated financing facility to refinance existing debt, providing additional financial flexibility to support its African growth strategy. The milestone follows strong first-half 2026 performance, with higher oil prices driving a 27% increase in sales compared to the same period in 2025.

Gabon remains the centerpiece of M&P’s African portfolio, where the company continues to expand production while developing the country’s emerging natural gas industry. In July, M&P awarded Capstone Energy a 36-month contract to deploy flare gas recovery technology at its Mouletsi-2 well on the Etekamba gas permit onshore Gabon. The project will capture gas that would otherwise be flared for on-site power generation, reducing emissions while improving energy efficiency and operational reliability.

Scheduled for production by late 2026, the Mouletsi-2 project marks M&P’s first gas development in Gabon. It is expected to yield approximately 25 million cubic feet per day, helping unlock value from the country’s 26 billion cubic meters of proven natural gas reserves.

From gas monetization in Gabon and Tanzania to brownfield optimization in Angola, the company is helping maximize the value of Africa’s existing resources

Beyond gas development, M&P continues to optimize oil production across its Ezanga, Kari, Nyanga-Mayombe and Etekamba licenses, with Gabon representing the company’s largest producing asset. The company’s first-half 2026 production across its Gabonese assets increased compared to the second half of 2025 as brownfield optimization programs continue to deliver incremental gains.

In Tanzania, M&P is advancing one of East Africa’s most active onshore gas development programs through the Mnazi Bay field, which supplies natural gas to the country’s domestic market. Earlier this year, the company brought the MB-5 development well online – the first well drilled on the license since 2014 – with production capacity of approximately 40 MMcfd, increasing the field’s total production potential to more than 130 MMcfd.

M&P is sustaining drilling momentum through the MS-2 development well and the Kasa-1X exploration well, supporting Tanzania’s objective of expanding natural gas supply and increasing access to clean cooking to 75% of the population by 2030.

In Angola, M&P continues to strengthen its portfolio through interests in Blocks 3/05, 3/05A and 3/24, alongside a 19% stake in the Quilemba Solar Project, reflecting the company’s commitment to supporting both hydrocarbon production and energy diversification. A two-well drilling campaign on Block 3/05, undertaken with Sonangol, is expected to add approximately 9,000 barrels per day of production, contributing to Angola’s strategy to sustain national crude output through brownfield redevelopment.

At AEW 2026, M&P will engage with governments, investors and industry stakeholders to showcase how targeted investment in mature assets, natural gas development and strategic acquisitions can unlock long-term production growth while strengthening Africa’s energy security.

“Maurel & Prom demonstrates how disciplined investment in mature assets can generate the capital needed to unlock new growth opportunities across Africa. From gas monetization in Gabon and Tanzania to brownfield optimization in Angola, the company is helping maximize the value of Africa’s existing resources while supporting the continent’s long-term energy security and industrial development,” stated NJ Ayuk, the Executive Chairman of the African Energy Chamber.

Distributed by APO Group on behalf of African Energy Chamber.

Continue Reading

Trending