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South Africa: African Development Bank approves ZAR 18.85 billion ($1 billion) corporate loan for Transnet’s business recovery plan

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African Development Bank

In addition to the corporate loan, the African Development Bank is contemplating two targeted grants, including $750,000 in technical support from the Sustainable Energy Fund for Africa

ABIDJAN, Ivory Coast, July 18, 2024/APO Group/ — 

The African Development Bank Group (www.AfDB.org) has approved a ZAR 18.85 billion ($1 billion) corporate loan to Transnet, South Africa’s major freight transport and logistics company, for its recovery and growth plans.

The 25-year loan approved by the Bank Group’s Board of Directors on Friday, 12 July 2024, is fully guaranteed by the government of South Africa. It will facilitate the first phase of the company’s ZAR 152.8 billion ($8.1 billion) five-year capital investment plan to improve its existing capacity ahead of expansion for the priority segments throughout the transport value chain.

Transnet has faced operational challenges mainly in the critical rail and port businesses resulting from underinvestment in infrastructure and equipment, theft and vandalism, and external shocks such as floods and the effects of the COVID19 pandemic.

The company is committed to addressing past challenges, fostering integrity, and enhancing efficiency within the organization. It has made progress in some key areas including reforms in governance procurement and financial management.

Our partnership will enable Transnet to execute a comprehensive Recovery Plan (RP), addressing operational inefficiencies, particularly in rail and port sectors

The recovery plan, launched in October 2023, seeks to rehabilitate the infrastructure and accelerate the relaunch of operations over 18 months, focusing on restoring operational performance and freight volumes to meet customer demands.

Following the approval, African Development Bank’s Vice President for Private Sector, Infrastructure and Industrialisation Solomon Quaynor, emphasized the significance of this support: “Transnet, the custodian of South Africa’s critical transport and logistics infrastructure, plays an indispensable role in the economy of the country, ensuring a competitive freight system and serving as a gateway to the SADC region.”

He added: “Our partnership will enable Transnet to execute a comprehensive Recovery Plan (RP), addressing operational inefficiencies, particularly in rail and port sectors. It is aligned with South Africa’s strategic ‘Roadmap for Freight Logistics System,’ and overseen by the National Logistics Crisis Committee, chaired at the Presidency level. This initiative signifies our commitment to enhancing national logistics capabilities and driving sustainable economic growth.”

Transnet has been a client of the African Development Bank since 2010. The company employs more than 50,000 people and plays a critical role in integrating and connecting South Africa with the global economy. The company’s freight system’s activities contribute significantly to South Africa’s economy. Its operations serve as key gateways for trade within South Africa and with landlocked countries in the region, such as Botswana, Zambia, Zimbabwe, and the Democratic Republic of Congo through the Port of Durban.

Reacting to the approval, Michelle Phillips, Group Chief Executive of Transnet said: “We appreciate the support demonstrated by the African Development Bank, the loan extended by the bank will make a significant contribution to Transnet’s capital investment plan to stabilise and improve the rail network and to contribute to the broader South African economy. The accompanying grant funding to the loan will also greatly assist Transnet with to its energy efficiency efforts and with Infrastructure Project Preparation initiatives.”

The Board commended the Government of South Africa for its vision and commitment to reforms in Transnet as well as the country’s entire transport and logistics sectors. It also applauded Transnet for progress made in rolling out its compliance and governance improvement programme as well as its decarbonization and energy efficiency plans in line with its Net Zero Emission Strategy and Green Freight Strategy.

In addition to the corporate loan, the African Development Bank is contemplating two targeted grants, including $750,000 in technical support from the Sustainable Energy Fund for Africa (SEFA) – a multi-donor fund administered by the Bank – to improve energy efficiency and associated measures, in line with Transnet’s net zero plan. The second grant funding comprises $1 million from the Infrastructure Project Preparation Facility of the New Partnership for Africa’s Development (IPPF-NEPAD), for technical assistance to help accelerate railway reforms and address structural and regulatory inefficiencies.

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

Business

Africa Data Centres partners with Oni-Tel to enhance data centre connectivity in South Africa

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Africa Data Centres

For Africa Data Centres, which operates the continent’s largest interconnected, vendor- and cloud-neutral data centre platform, the collaboration strengthens its service portfolio by enhancing performance and expanding connectivity options within its facilities

JOHANNESBURG, South Africa, April 13, 2026/APO Group/ –Africa Data Centres (www.AfricaDataCentres.com), a business of Cassava Technologies, a global technology leader of African heritage, has partnered with fibre optic cable infrastructure provider Oni-Tel Fibre Networks to strengthen connectivity across its Gauteng facilities. Under the agreement, Oni-Tel will deliver high-speed, low-latency connectivity to Africa Data Centres’ Midrand and Samrand campuses through its Infinity fibre interconnection platform.

 




  

 

Purpose-built for data centre interconnectivity on a resilient network with direct access to Gauteng’s key data centre hubs, this provides customers with fast, high-capacity bandwidth and secure, carrier-grade performance, supporting the levels of uptime required in today’s data-driven environments.

Our partnership with Africa Data Centres enables us to deliver our premium fibre interconnection solution into some of the most strategically important data centre hubs in Gauteng

“As enterprises accelerate cloud adoption, AI deployment, and data-intensive workloads, they need dependable, scalable connectivity within trusted local data centres. By partnering with Oni-Tel, we’re giving our customers access to enhanced fibre infrastructure that supports their growth and innovation, while maintaining secure, enterprise-grade environments for businesses navigating South Africa’s digital economy,” said Adil El Youssefi, CEO of Africa Data Centres.

For Africa Data Centres, which operates the continent’s largest interconnected, vendor- and cloud-neutral data centre platform, the collaboration strengthens its service portfolio by enhancing performance and expanding connectivity options within its facilities. Customers gain greater interconnection choice, high-availability architecture, seamless bandwidth, and the ability to scale efficiently as their infrastructure requirements grow.

“Our partnership with Africa Data Centres enables us to deliver our premium fibre interconnection solution into some of the most strategically important data centre hubs in Gauteng. Through Infinity, customers benefit from ultra-low latency connectivity, scalable capacity, and secure, carrier-grade infrastructure designed to keep their businesses ahead in an extremely competitive digital landscape,” said Ellisha Gobind, Chief Commercial Officer at Oni-Tel.

Africa Data Centres’ facilities across the continent serve as key interconnection hubs, supporting enterprises, cloud service providers, financial institutions, mobile network operators, fixed network operators, and other users. Oni-Tel’s dark fibre solution further expands the range of carrier-neutral options available to Gauteng customers, enabling improved network speed and performance.

As demand for secure, high-performance digital infrastructure continues to rise, Africa Data Centres remains focused on building a robust, interconnected ecosystem that supports enterprise innovation and long-term growth across South Africa and the wider region.

Distributed by APO Group on behalf of Africa Data Centres.

 

 




 

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Business

Changpeng Zhao (CZ) Releases Freedom of Money, a Memoir Reflecting on the Rise of Crypto and the Story Behind Binance

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Binance

The memoir also reflects on the challenges that came with building at such speed, including the pressures of scaling a global company, regulatory scrutiny as the industry matured, and CZ’s personal experience serving a four month sentence in a U.S. federal prison

JOHANNESBURG, South Africa, April 13, 2026/APO Group/ –Few figures have been as closely associated with the rise of the cryptocurrency industry as Binance (www.Binance.com) co-founder Changpeng Zhao (CZ). In his new memoir,  Freedom of Money, A Memoir of Protecting Users, Resilience, and the Founding of Binance,  CZ offers a candid account of the early days of crypto, the rapid explosion of Binance, and the personal consequences of building at the centre of one of the fastest moving industries in modern finance.

 




  

Available globally from 08th April 2026 on Amazon Kindle and Paperback, Freedom of Money traces CZ’s journey from his early life and unconventional path into technology through the founding and rapid growth of Binance during a period when the cryptocurrency industry was expanding at unprecedented speed.

Part memoir and part reflection on the evolution of digital assets, the book offers readers a builder’s perspective on what it was like to grow a global platform in a new industry where the rules were still being written.

“While many people congratulated me on being number one, something else gave me more satisfaction,” CZ writes in the book. “I was getting messages from users all around the world thanking us for providing them with financial access or even financial freedom.”

The memoir also reflects on the challenges that came with building at such speed, including the pressures of scaling a global company, regulatory scrutiny as the industry matured, and CZ’s personal experience serving a four month sentence in a U.S. federal prison.

“This memoir is not a sanitized corporate story,” CZ said. “It reflects on what it was like to build during a time when the crypto industry was still taking shape – the successes, the mistakes, and the lessons that came from both.”

Freedom of Money offers a founder’s perspective on the challenges and opportunities that shaped digital assets during their formative years

Alongside the events that defined CZ’s career, Freedom of Money explores broader themes of money, technology and responsibility, and how his views on financial freedom have evolved over time.

Reflecting on a Defining Period in Crypto

Over the past decade, Binance has played a significant role in the growth of the digital asset ecosystem, helping support the development of infrastructure used by millions of users globally.

Freedom of Money provides CZ’s personal perspective on that period of rapid innovation and expansion in the cryptocurrency industry.

Richard Teng, Co-CEO of Binance, said: “The story of Binance is closely tied to the early evolution of the crypto industry. Freedom of Money offers a founder’s perspective on the challenges and opportunities that shaped digital assets during their formative years.”

Yi He, Co-Ceo of Binance, added: “The early days of crypto were fast-moving and full of possibility, even if not always fully understood. This book captures the energy of building in that moment and the incredible progress the industry has made since.”

Rachel Conlan, Chief Marketing Officer at Binance, said: “For many people, the story of crypto has been told through headlines and market cycles. What this book offers is a first person account from someone who helped build the infrastructure behind the industry’s growth.

Availability

  • Freedom of Money (https://apo-opa.co/4muGafd) is available globally 08 April 2026 on Amazon Kindle and Paperback.
  • The book is published in English and Chinese, with additional translations under consideration.
  • All proceeds from CZ’s authorship of the book will be donated to charity

Distributed by APO Group on behalf of Binance.

 

 




 

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Energy

Senegal Rewrites the Rules of its Hydrocarbon Boom as Minister Birame Soulèye Diop Heads to African Energy Week 2026 in October

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African Energy Chamber

At AEW 2026, Senegal’s Energy Minister Birame Soulèye Diop is expected to outline Senegal’s integrated hydrocarbons, gas and power strategy at AEW

CAPE TOWN, South Africa, April 13, 2026/APO Group/ –Senegal is reinforcing the policy architecture behind its new hydrocarbons era, with the Ministry of Energy, Petroleum and Mines launching reforms to the legal framework for local content in the extractive sector in March 2026. The reforms are aimed at improving national value retention while maintaining momentum on upstream and infrastructure development.

 




  

The move comes as Dakar works to translate first oil and first gas into broader industrial growth, stronger domestic participation and long-term energy security. Against this backdrop, Birame Soulèye Diop, Senegal’s Minister of Energy, Petroleum and Mines, will speak at African Energy Week (AEW) 2026 – taking place in Cape Town from October 12-16 – where he is expected to present Senegal’s roadmap for balancing investor engagement, gas monetization and sovereign energy development.

Minister Diop represents the kind of pragmatic African leadership that is turning resource potential into real economic transformation

In January 2026, 3.8 million barrels of crude oil were exported from the Sangomar field, while the Greater Tortue Ahmeyim (GTA) project is expected to nearly double its LNG cargoes in 2026 as the FLNG ramp‑up continues. Beyond current production, Senegal is also pushing to expand its resource pipeline. Petrosen has announced plans for a $100 million onshore exploration program in 2026, while the government has also signaled a stronger strategic focus on Yakaar-Teranga, with Senegalese investors encouraged to take a greater role in developing the 25 trillion cubic feet gas resource to prioritize domestic needs while keeping export optionality on the table.

Dakar is now focused on the next phase: using domestic gas resources to lower electricity costs, improve fuel security and support industrial competitiveness. A key pillar of this strategy is the 250 MW Gandon power plant, expected to be supplied through new gas infrastructure linked to the GTA system, alongside the broader Cap des Biches and northern gas corridor buildout. At the same time, Dakar is continuing to strengthen the regulatory foundations of its power transition. In March 2026, the Ministry of Energy, Petroleum and Mines validated Senegal’s first national standards for solar photovoltaic equipment, a move designed to improve quality, safety and performance as the country scales renewable energy deployment in parallel with oil and gas infrastructure.

At AEW 2026, Minister Diop is expected to provide strategic insight into how Senegal is navigating the transition from discovery and commissioning to full-scale execution. His participation is set to reinforce Senegal as one of the few frontier African producers pursuing an integrated model that combines hydrocarbons, gas-to-power and renewables under a single national development agenda.

“Minister Diop represents the kind of pragmatic African leadership that is turning resource potential into real economic transformation. Senegal is showing how first oil and first gas can become the basis for industrial growth, stronger regional integration and long-term energy security and his insights will bring great value to AEW 2026,” said NJ Ayuk, Executive Chairman, African Energy Chamber.

Distributed by APO Group on behalf of African Energy Chamber.

 




 

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