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Nigeria’s Cross River State second to commence construction of its Special Agro-Industrial Processing Zone

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African Development Bank

The African Development Bank Group has committed $934 million to SAPZs in 11 African countries

Nigeria’s Cross River State became the second to mark construction of a Special Agro-Industrial Processing Zone after the country’s Vice President Kashim Shettima and African Development Bank (www.AfDB.org) President Dr. Akinwumi Adesina broke ground at the project site on Thursday 10 April.

The SAPZ aims to tackle food insecurity, enhance local production, and position Nigeria as a food export leader by leveraging Cross River’s ports and research assets to boost global trade, reduce food imports, and drive prosperity through the agro-industrialization of crops like cocoa and cassava.

The groundbreaking in Cross River follows that of Kaduna (http://apo-opa.co/42Mquvu) which took place few days earlier. Six other states – Kano, Kwara, Imo, Ogun, Oyo, and the Federal Capital Territory – are included in Phase 1 of the $538 million SAPZ program, with plans to expand to the remaining 28 states this year pending the African Development Bank’s Executive Board approval for Phase 2 funding.

Shettima emphasized the project’s priority and need for national collaboration: “The SAPZ program has been recognized as a national priority for food security in Nigeria.” He noted, “There is no better time than now for the federal and state governments, development partners, the private sector, and our communities to work hand in hand to ensure the success of the SAPZ project.”

Adesina celebrated the milestone, saying, “Today is a big day for Nigeria,” and added, “The Special Agro-Industrial Processing Zones is bringing good news to Nigeria, State Governments and Local Governments. Good news to farmers, agribusinesses, and all rural areas of Nigeria. Good news of jobs, wealth, and prosperity with agriculture as a business.

“With the abundant arable land, cheap labor and vast agro-ecological areas, Nigeria should not be importing food,” said Adesina who was accompanied by his wife Grace Yemisi Adesina.

The Bank Group president highlighted Cross River’s export potential: “Bakasi deep seaport will turn the state into a logistics hub in Nigeria and the Gulf of Guinea, enabling trade with Cameroon, Equatorial Guinea, and Guinea Bissau.”

Bakasi deep seaport will turn the state into a logistics hub in Nigeria and the Gulf of Guinea, enabling trade with Cameroon, Equatorial Guinea, and Guinea Bissau

The 130-hectare Agro-Industrial Hub in Adiabo will leverage the Calabar Sea Port, Bakassi Deep Sea Port, a 23 kVA power plant in Tinapa, and a 630 kVA Calabar Power Plant. Its Agricultural Transformation Centre, supported by the Cocoa Research Institute of Nigeria and the University of Calabar, lies less than 45 minutes from Ikom, Etung, and Boki, boosting cocoa production for global markets.

Governor Bassey Otu outlined the state’s vision, saying, “For us in Cross River State, the establishment of clusters of smallholder farmers focused on staple and cash crops such as rice, cassava, millet, cocoa, and oil palm is a vital step toward agro-industrialization.”

“These initiatives are aimed at strengthening food security, diversifying our state’s economy toward export-oriented agriculture, and boosting our GDP,” added Governor Otu, saying the state should expect to see a big difference in two years.

The African Development Bank Group is investing $210 million, including $50 million from its Africa Growing Together Fund. The Islamic Development Bank is contributing $150 million, the International Fund for Agricultural Development is contributing $100 million, the Green Climate Fund is contributing $60 million, and the government is contributing $18 million.

Speaking during the occasion, the International Fund for Agricultural Development’s Country Director, Dede Ekoue, noted that the SAPZ will build on the Livelihood Improvement Family Enterprises in the Niger Delta (LIFE-ND) project which has empowered 26,000 youth and women agripreneurs in the Niger Delta, including 4,000 in Cross River, with plans to scale to 100,000 by 2028.

The Minister of Agriculture and Food Security, Abubakar Kyari, said, “The SAPZ program is a powerful catalyst for economic growth and import substitution. By investing in agro-processing development, we are investing in the future of our communities.”

The African Development Bank Group has committed $934 million to SAPZs in 11 African countries. The 2024 Africa Investment Forum (http://apo-opa.co/42eqx33), held in Morocco, recorded $2.2 billion in investor interest for 28 Nigerian states, which make up the second phase of the project.

Adesina explained that with the Special Agro-Industrial Processing Zones, Nigeria will reduce food imports, conserve foreign exchange, expand local production and processing of food and agricultural commodities, strengthen the Naira, and attract significant private investment into the development of agricultural value chains.

The Special Agro-Industrial Processing Zones will also revive and transform rural economies and create millions of jobs.

Adesina was accompanied by the African Development Bank Vice President for Agriculture, Human and Social Development Dr Beth Dunford, the Director General for Nigeria Dr Abdul Kamara, Prof Oyebanji Oyelaran-Oyeyinka, Senior Special Adviser on Industrialisation, Director Richard Ofori-Mante, Director of the Agricultural Finance and Rural Development Department, and Dr Yusuf Kabir, National Coordinator for SAPZ, Nigeria.

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

Business

Aurionpro expands its multi-country transaction banking engagement with Diamond Trust Bank (DTB)

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Aurionpro

Aurionpro’s upgraded iCashpro platform for DTB delivers a unified digital experience across payments, trade, virtual accounts, and real-time reporting, enhancing straight-through processing, visibility, and control for both the bank and its corporate customers

MUMBAI, India, April 30, 2026/APO Group/ –Aurionpro Solutions Limited (www.AurionPro.com) (BSE: 532668 | NSE: AURIONPRO)a global leader in banking technology, announced the expansion and upgrade of its transaction banking engagement with Diamond Trust Bank (DTB), to modernize and enhance the bank’s corporate transaction banking capabilities across multiple countries.

Download Document: https://apo-opa.co/4edHUaC

This multi-country transaction banking upgrade covering Kenya, Uganda, and Tanzania aligns with DTB’s intent to enhance customer experience, streamline operations, and support growing transaction volumes as it expands its regional corporate banking footprint. DTB continues to focus on building a more agile, ‘digital-first’ banking experience, particularly around payments for its corporate customers across Africa, and is now well positioned to scale these capabilities. As part of its broader transformation agenda, the bank has been steadily investing in platforms that enhance scale, reliability, and service consistency across markets.

Through this partnership, we are proud to lead the next era of transformation in transaction banking, helping DTB enhance operational agility

Aurionpro’s upgraded iCashpro platform for DTB delivers a unified digital experience across payments, trade, virtual accounts, and real-time reporting, enhancing straight-through processing, visibility, and control for both the bank and its corporate customers. By enabling DTB to standardize and scale its transaction banking operations across countries, the platform ensures consistent service levels, stronger control, and improved efficiency. It also supports enhanced user experience, advanced security, and the flexibility to introduce new features as DTB expands its regional transaction banking footprint.

Murali Natarajan (https://apo-opa.co/48trPdk), Managing Director & CEO, DTB Kenya   commented: “We are delighted to strengthen and broaden our partnership with Aurionpro Solutions as part of DTB’s ongoing digital transformation journey across multiple markets. Our focus on innovation, operational excellence, and customer-centricity continues to guide our technology investments. This upgrade strengthens our transaction banking capabilities, enabling us to deliver greater value to our customers through robust digital channels and seamlessly integrated experiences.”

Ashish Rai, Group CEO, Aurionpro Solutions, commented: “We are pleased to deepen our multi-country engagement with Diamond Trust Bank and support the next phase of its transaction banking modernization. As DTB continues to scale across markets, platform resilience and consistency become paramount. Through this partnership, we are proud to lead the next era of transformation in transaction banking, helping DTB enhance operational agility, deliver superior experiences to corporate customers, and create long-term value across geographies.”

He added, “Aurionpro’s iCashpro lays a strong digital foundation for transaction & wholesale banks across the globe to grow their corporate and SME client portfolio today, while creating a clear roadmap for next- generation capabilities in AI-driven insights, advanced automation and API-led connectivity for businesses in Kenya and across Africa.”

Distributed by APO Group on behalf of Aurionpro Solutions Ltd.

 

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Minerals Council Chief Executive Officer (CEO) Joins African Mining Week (AMW) as South Africa Improves Sectorial Investment Climate

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Energy Capital

Minerals Council CEO to share insights on policy, infrastructure and investment trends shaping South Africa’s mining industry

CAPE TOWN, South Africa, April 30, 2026/APO Group/ –The upcoming African Mining Week (AMW) conference will feature Mzila Mthenjane, CEO of the Minerals Council of South Africa, as a speaker. Scheduled for October 14 – 16, 2026 in Cape Town, the event will bring together global investors, policymakers and industry leaders, with Mthenjane’s participation highlighting the council’s commitment to engaging international stakeholders and promoting investment across South Africa’s mining sector.

His participation comes at a critical moment as the Minerals Council works closely with government on finalizing the Mineral Resources Development Bill 2025, a policy framework aimed at strengthening the country’s mining investment climate and the sector’s contribution to GDP. According to the council, the revised legislation will support new investment across the value chain as South Africa seeks to mobilize R2 trillion over the next five years to unlock its critical minerals potential.

The policy reforms come amid shifting production trends in the sector. In 2025, South Africa recorded declines in gold and platinum group metals output of 1.9% and 4.1%, respectively. The new regulatory framework is expected to strengthen public-private partnerships and stimulate investment, enabling South Africa to increase production and capitalize on strong global commodity prices. Increased private sector investments is crucial with South Africa seeking targeting to unlock an estimated R40 trillion in untapped iron ore potential as well as maintain its position as the world’s leading producer of chrome and manganese.

At AMW 2026, Mthenjane is expected to outline these trends, providing insights into how the council is contributing to addressing challenges disrupting the sector. Infrastructure and energy costs remain key concerns for industry players. To support the energy-intensive sector, South Africa approved a 35% reduction in electricity tariffs for major ferrochrome producers, helping stabilize an industry that has faced significant cost pressures after electricity prices surged by roughly 900% since 2008.

Logistics constraints are also a priority area for reform. South Africa’s economy is losing an estimated R1 billion per day due to inefficiencies across rail and port infrastructure. As a result, the government is considering measures supported by the Minerals Council to increase private sector participation in logistics. Planned reforms include rail modernization initiatives targeting 250 million tons of freight capacity by 2029, alongside port upgrades and private operator participation aimed at strengthening mineral exports and improving supply chain efficiency.

Beyond infrastructure and policy reforms, the Minerals Council is advocating for stronger exploration investment to support long-term industry growth.

At AMW, Mthenjane is expected to highlight these developments and outline the steps required to reinforce South Africa’s position in the global minerals supply chain. His insights will offer investors and stakeholders a timely perspective on opportunities within the country’s mining sector.

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

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Seychelles Targets Energy Investment Push as Minister Jérémie Joins African Energy Week (AEW) 2026 as a Speaker

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African Energy Chamber

Seychelles energy minister will speak at AEW 2026, positioning her to highlight reforms, renewable projects and investment opportunities as the island nation advances its transition toward a diversified energy system

CAPE TOWN, South Africa, April 29, 2026/APO Group/ –Marie-May Jérémie, Minister of Environment, Climate, Energy and Natural Resources for Seychelles will participate as a speaker at this year’s African Energy Week (AEW) 2026, taking place from October 12–16 in Cape Town. Her participation underscores the country’s growing role in shaping Africa’s small-island energy transition agenda.

Minister Jérémie’s presence at AEW 2026 comes at a critical time as Seychelles accelerates efforts to reduce its heavy reliance on imported fossil fuels. The event provides a platform to attract investment, strengthen policy alignment and showcase bankable projects, positioning the country as a viable destination for private-sector participation in island energy systems.

Seychelles is demonstrating how policy reform and innovation can unlock investment in constrained environments

In May last year, international finance institution the World Bank approved the Renewable Energy Acceleration Program, a seven-year initiative aimed at modernizing the grid and increasing renewable energy penetration to 15% by 2030. The program focuses on unlocking private capital while strengthening transmission infrastructure to accommodate variable renewable energy sources.

Project development is gaining traction in the country, particularly in innovative technologies suited to Seychelles’ land constraints. The 5.8 MW Seysun Lagoon floating solar PV project, developed by independent renewable power producer Qair, is under construction and expected online in 2026.

Alongside renewables, Seychelles continues to pursue upstream opportunities to diversify its economy. The government approved new exploration entrants in 2025 and extended exiting petroleum agreements, while securing an infrastructure partnership with China. Multilateral estimates suggest over $800 million in investment will be required over the next 25 years.

Regulatory reform is central to this transition, with Seychelles introducing an independent power producer framework to open the market to private developers. Standardized power purchase agreements, grid access reforms and strengthened public-private partnership structures are being implemented to improve transparency, reduce risk and accelerate project bankability across solar, storage and emerging wind opportunities.

“Minister Jérémie’s participation highlights the strategic importance of island nations in Africa’s broader energy transition,” says NJ Ayuk, Executive Chairman, African Energy Chamber. “Seychelles is demonstrating how policy reform and innovation can unlock investment in constrained environments. Her insights will be critical to advancing dialogue on resilient, low-carbon energy systems across the continent.”

Distributed by APO Group on behalf of African Energy Chamber.

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