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South Africa’s energy transition needs full financial support, says African Development Bank Group President

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The African Development Bank estimates that South Africa would need more than $30 billion for transition to renewable energy

JOHANNESBURG, South Africa, March 28, 2022/ — African Development Bank Group (www.AfDB.org) President Dr Akinwumi Adesina has assured South Africa of the Bank’s strong support as the country transitions from fossil fuel to renewable energy.

Adesina told Minister for Mineral Resources and Energy, Gwede Mantashe, that the Bank was in the process of setting up an African Energy Transition Facility to help South Africa secure adequate financing for its energy transition.

He said: “South Africa cannot and should not embark on the journey of energy transition without the necessary financial support.” He said through the African Energy Transition Facility, “South Africa can leverage on the $8.5 billion in grants from the G7 countries to generate all the money it needs for its just energy transition without getting into debt.”

The African Development Bank estimates that South Africa would need more than $30 billion for transition to renewable energy.

The Bank is financing several renewable energy projects in South Africa, including the 100 megawatt Sere wind power plant, the 100 megawatt Xina solar power concentrated power plant, and the award-winning 100 megawatt Red Stone solar project. The Bank is also preparing a $400 million package to support the country’s electricity utility company, Eskom, as it transitions to renewable energy.

Adesina and Minister Mantashe met in South Africa’s capital Pretoria, where they discussed a range of opportunities for the country, which relies on coal for 75% of its energy needs.

According to Mantashe, the government is committed to achieving a 15% reduction in coal power production and an 18% increase in renewable energy by 2030.

He said: “We want to move from high carbon to low carbon emission. The Just Energy Transition plan should be about people’s lives and livelihoods, particularly in coal mining areas. We must develop a concrete alternative economic program for communities in those areas.”

The minister said the government was planning to generate additional 1,500 megawatts of electricity from coal. “We want to be actively involved in the experiment for cleaner coal production technology, including carbon capture and storage…If the experiment works, we’ll expand it and that will reprieve coal as a commodity.”

The minister said gas and nuclear were part of South Africa’s energy mix. He described gas as a game changer for development and cited Mozambique, whose economic prospects have changed following gas discovery.

According to Adesina, solar power should be a key part of South Africa’s energy mix. “Be bold about solar power,” he said. “Africa today has no choice but to transition out of coal. But God is good to us. We have 11 terawatts of solar. That is Africa’s future. South Africa can help make that future happen. South Africa can become and should position itself to be the lead manufacturer of polysilicon.”

Polysilicon is used to manufacture solar panels and other products, which are currently imported mainly from China.

Mantashe told the African Development Bank Group president and his delegation that South Africa had discovered rare earth minerals, essential in manufacturing solar power components. “The minerals of the future that will contribute to a green economy are here,” he said.

The Bank Group chief and the minister also discussed the impact on Africa of Russia’s war in Ukraine, which has already led to an increase in the prices of food, fertilizer, oil and gas.

Adesina said the African Development Bank was developing a plan to raise $1 billion to fund emergency food production and avert a looming food crisis across Africa.

Minister Mantashe said the South African government was considering using 10 million barrels of its crude oil reserves to control the rising prices of petroleum by suspending all taxes and levies for two months.

Please find more images here (https://bit.ly/36X3wYh)


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

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GE Vernova secures order aimed to strengthen regional energy capacity in Côte d’Ivoire

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GE Vernova 9E turbine technology to support reliable power delivery for industrial growth and millions of households

We are honored to support Songon Energies with our proven 9E technology for this crucial infrastructure project

ABIDJAN, Ivory Coast, October 20, 2026/APO Group/ —

  • Developed by Songon Energies S.A., Songon power plant is built to strengthen energy security and support future growing electricity demand in Greater Abidjan
  • GE Vernova 9E turbine technology to support reliable power delivery for industrial growth and millions of households
  • Infrastructure development expected to create up to 1,400 new jobs and drive positive community impact

 

GE Vernova (https://www.GEVernova.com/) announced today that it will provide the gas power technology for the new Songon combined-cycle power plant, located in the Songon region near Abidjan, Côte d’Ivoire. Following the signing of financing agreements (https://apo-opa.co/3U5xBxI) last June, Songon Energies (https://apo-opa.co/483QKTX) – Ivorian development investment company focused on advancing energy infrastructure – selected GE Vernova to supply a 9E gas turbine and generator. The plant – to be built by the EPC contractor China Energy International Engineering Co., Ltd. – is expected to deliver 372 megawatts (MW), a capacity equal to the power needs of approximately 5 million Ivorian homes.

 




  

Download infographic: https://apo-opa.co/3UBqA7W

 

Supporting a growing national energy landscape. Côte d’Ivoire has made significant progress, reaching an electrification rate of 94.3 percent by 2024 through initiatives like the “Electricity for All Program” (PEPT), in line with the national goal to achieve universal electrification and improved power quality by 2030. Despite these gains, the nation faces an annual demand growth rate of 10 to 15 percent and rural areas still require expanded access. In this energy landscape, this new power plant will help fill a critical gap. The facility is projected to represent up to 12 percent of the country’s total installed base upon its scheduled 2029 operational launch, playing a vital role in meeting these ambitious development targets. Furthermore, the project is expected to generate up to 1,400 new jobs, creating economic opportunities for the local community.

 

“The Songon Energies project is designed to strengthen energy security and support future growing electricity demand growth in the Greater Abidjan region while reinforcing the country’s position as a regional energy hub in West Africa,” said Mr. Wang Xiaoming,  Deputy General Manager (Acting CEO) for Songon Energies. “The facility is expected to ease energy pressure on the Abidjan metropolitan area, providing a reliable foundation for the development of skilled workers, the growth of industrial zones, the expansion of small and medium-sized enterprises, and a tangible improvement in the daily lives of millions of Ivorian households. We selected to work with GE Vernova for this new power plant, because of our deep trust in their efficient technology and their constant, proven presence in Côte d’Ivoire, which gives us great confidence in the long-term success of this facility.”

 

“We are honored to support Songon Energies with our proven 9E technology for this crucial infrastructure project,” said Joseph Anis, CEO of Gas Power in Europe, Middle East, and Africa at GE Vernova. “Our commitment to power plant operators is rooted in delivering advanced gas power technology that provides the reliable, dispatchable energy necessary for long-term growth and positive community impact. Beyond the turbine island, we look forward to applying our expertise in powering the HV sub-station, providing digital software, and long-term services to support the broader energy system in its goal to enhance grid stability, operational efficiency, and local prosperity.”

 

GE Vernova’s commitment to Côte d’Ivoire remains steadfast, built upon a long history of supporting the nation’s electrification goals. The company’s footprint in the country centers on a large installed base, key power transmission hardware, digital software deployments, and long-term service contracts. GE Vernova utilizes its global expertise and local presence to help power plant operators increase power capacity, while supporting a more secure and reliable energy future.

Distributed by APO Group on behalf of GE Vernova.

 

 




 

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Algeria’s Hydrocarbons Minister Joins MSGBC 2026 as Sonatrach Eyes Senegal Partnerships

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Etu Energias

Algiers and Dakar are preparing an energy agreement as Sonatrach pursues partnerships across the MSGBC basin

DAKAR, Senegal, October 19, 2026/APO Group/ –Mohamed Arkab, Algeria’s Minister of State and Minister of Hydrocarbons, will join the speaker lineup at MSGBC Oil, Gas & Power 2026 in Dakar this December, bringing one of the continent’s most senior energy ministers to a forum focused on investment and regional cooperation. His confirmation serves as a bridge between one of Africa’s longest-standing oil and gas producers and one of its newest, paving the way for greater collaboration across upstream exploration, infrastructure and power.

 




  

Algerian cooperation with MSGBC nations has already gained momentum. Minister Arkab hosted Senegal’s Minister of Energy and Petroleum, Dr. El Hadji Abdourahmane Diouf, in Algiers on October 4. The two-day visit produced a cooperation agreement between Senegalese utility Senelec and Algeria’s Sonelgaz, while Petrosen and Sonatrach held discussions on a potential partnership spanning upstream exploration and infrastructure.

Senegal’s government has said the visit sets the stage for an intergovernmental agreement to be signed in Dakar during MSGBC Oil, Gas & Power 2026. The two national oil companies first signed a memorandum of understanding in 2022, and Minister Arkab discussed putting it into effect with Senegal’s Minister of Foreign Affairs Cheikh Niang in July.

The potential partnership comes as MSGBC countries look toward the next phase of upstream development following the start of production at Senegal’s Sangomar oil field and the cross-border Greater Tortue Ahmeyim (GTA) LNG project. Regional priorities are now shifting toward advancing the next generation of projects, including Senegal’s Yakaar-Teranga gas development and Mauritania’s BirAllah discovery, while attracting fresh exploration investment across the wider basin. Moving these opportunities toward development will require capital, technical expertise and partnerships with established producers – creating scope for deeper cooperation with countries such as Algeria and companies such as Sonatrach.

Minister Arkab’s participation at the upcoming conference also arrives as Algeria advances its own exploration strategy. The event convenes shortly after bidding closes for the Algeria Bid Round 2026, which the National Agency for the Valorization of Hydrocarbon Resources launched in April with seven exploration blocks on offer. Submissions are due November 26, and Sonatrach expects to finalize contracts with successful bidders by the end of January 2027. Exploration and production will absorb three-quarters of the $60 billion Sonatrach intends to spend between 2026 and 2030, as the company works toward lifting annual gas output to 200 billion cubic meters within five years.

With a bilateral agreement potentially headed for signature on the conference sidelines, Minister Arkab’s participation promises to be one of the defining moments of the 2026 edition and reinforces MSGBC Oil, Gas & Power’s standing as the region’s leading meeting point for governments and investors.

Organized by Energy Capital & Power and held under the High Patronage of Senegalese President Bassirou Diomaye Faye, MSGBC Oil, Gas & Power 2026 takes place December 1–3 in Dakar and will convene heads of state, ministers, investors, operators and development partners from Mauritania, Senegal, The Gambia, Guinea-Bissau and Guinea-Conakry. Explore opportunities and secure your participation at www.MSGBCOilGasandPower.com.

 

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

 




 

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Afreximbank and partners advance Africa’s automotive investment agenda at Alamein Africa Forum

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Afreximbank

The two-day Forum brought together high-level African automotive industry policymakers, private sector original equipment manufacturers (OEMs) and Africa-based component manufacturers

CAIRO, Egypt, October 19, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com), in partnership with the African Association of Automotive Manufacturers (AAAM), the African Continental Free Trade Area (AfCFTA) Secretariat, the Ministry of Trade and Investment of Egypt, and the Department of Trade and Industry of South Africa, hosted the Africa Automotive Investment Forum on the sidelines of the Alamein Africa Forum held in El Alamein, Egypt recently.

 




  

The two-day Forum brought together high-level African automotive industry policymakers, private sector original equipment manufacturers (OEMs) and Africa-based component manufacturers.

The Forum sought to sensitise policymakers on the policy changes and reforms needed to develop the automotive sector, enable investors to engage directly with both policymakers and manufacturers, and facilitate potential joint ventures and supply agreements or engagements leading to future deals.

Afreximbank noted that the Forum prioritised joint ventures and technology transfer agreements between global auto giants and African enterprises with the expectation of creating highly skilled engineering, manufacturing and technical jobs for Africa’s growing youth demographic while significantly boosting local small and medium enterprises within the secondary supply tier.

It described the automotive sector as a strategic priority because it serves as a powerful catalyst for Africa’s industrialisation, intra-African trade and economic resilience, noting that several African countries were already making important strides in the development of a manufacturing sector that had attracted increasing investment into the emerging auto industry, including new energy vehicles.

Highlighting the significance of the Forum for Afreximbank, Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, said:

“The automotive sector is a critical pillar for advancing Africa’s industrialisation and achieving the structural transformation championed by Afreximbank. By driving regional value chain integration, the automotive industry directly aligns with our mandate to foster intra-African trade under the AfCFTA framework. Supporting this sector allows Afreximbank to catalyse high-impact investments, stimulate manufacturing capabilities, create skilled employment, and significantly reduce the continent’s heavy reliance on vehicle imports. Investing in the African automotive ecosystem is not merely a financing opportunity, but a strategic imperative that accelerates economic diversification and establishes Africa as a competitive player in the global industrial economy.”

Mrs. Awani said that significant investment opportunities existed in Africa’s automotive manufacturing sector, including component manufacturing, leveraging the continent’s growing skills base and raw materials such as lithium, cobalt, manganese, nickel, copper, iron and steel. She added that Afreximbank was championing the development of a pan-African automotive manufacturing sector comprising an interrelated component and vehicle manufacturing ecosystem, supported by intra-African supply chains and trade.

The automotive sector is a critical pillar for advancing Africa’s industrialisation and achieving the structural transformation championed by Afreximbank

Mrs. Awani noted that Afreximbank had committed US$1 billion towards financing Africa’s automotive sector as part of its strategy to promote manufacturing, trade and industrial development across Africa.

The Forum witnessed the signing of a joint venture agreement between Malben Engineering from South Africa and Egypt-based industrial conglomerate El Araby Group to establish a joint platform for manufacturing components serving Egyptian, South African and broader African markets. The undertaking combines El Araby Group’s industrial, engineering, and technological capabilities with Malben Engineering’s experience spanning over 50 years in manufacturing and forming metal automotive components.  The joint venture illustrates the type of commercial partnership that will spur development of intra-African automotive supply chains and trade.

Mr. Tarek Mosaad, President of the African Association of Automotive Manufacturers (AAAM) said: “with the AfCFTA Rules of Origin now agreed, the foundation for a more integrated automotive industry is in place. Our focus must shift to turning ambition into action by creating factories, strengthening supplier ecosystems, generating jobs, and increasing intra-African trade.” He noted that “AAAM remains focused on three key priorities:

  • Growing local content through regional value chains
  • Making it easier to move automotive products across borders
  • Ensuring Africa plays a meaningful role in shaping the future of mobility|

In his call to action, he cautioned that “investors are not looking at 54 separate African markets. They are looking at one integrated opportunity.”

H.E. Wamkele Mene, Secretary-General of the AfCFTA Secretariat, echoed the sentiments expressed by Afreximbank and AAAM and outlined three priorities for advancing the Strategy for the African Automotive Sector under the AfCFTA framework, namely: “developing investment-ready projects and competitive production locations; strengthening regional supplier networks and deepening localisation; and establishing commercially viable regional production.”

In a further step towards advancing these priorities, the AfCFTA Secretariat and the African Association of Automotive Manufacturers (AAAM) signed a Memorandum of Understanding (MoU) to strengthen cooperation in developing Africa’s automotive industry.

The MoU provides a framework for cooperation in implementing the Strategy for the African Automotive Sector under the AfCFTA, covering automotive Rules of Origin, customs procedures and trade facilitation, automotive policy and standards, capacity building, regional supplier and value-chain development, mineral beneficiation, investment mobilisation and emerging automotive technologies.

The partnership will also support ongoing efforts by the AfCFTA Secretariat and Afreximbank to advance the AfCFTA Automotive Investment Plan, with a focus on mobilising investment and strengthening competitive regional automotive production networks.

The Forum also witnessed the establishment of a joint Egypt-South Africa Business Council designed to develop bilateral trade and investment projects across various priority sectors that include automotive, mining and mineral resources, renewable energy, agriculture and food production, pharmaceuticals, transport and logistics infrastructure – leveraging the Suez Canal and national ports in both countries to facilitate increased trade between northern and southern Africa.

For a more practical experience, delegates moved from policy discussion to industry exposure through curated site visits to OEMs Nissan Motor Corporation, General Motors Egypt, Al Mansour Automotive and components manufacturer Mobica in 6th of October City. The visits offered a first-hand view of Egypt’s automotive industrial base, showcasing the progression from vehicle assembly and localisation to supplier development, manufacturing capabilities and regional market reach, while illustrating the tangible opportunities for investment, technology transfer and cross-border value-chain integration that can help position Africa as a competitive automotive manufacturing hub.

With African vehicle demand expected to reach 5 million by 2035 as well as rising interest in new energy vehicles globally, industry stakeholders and policymakers are seeing opportunities to drive domestic industrialisation through the automotive sector and renewables, leveraging African raw materials. Forum participants emphasised that the policy incentives must be right and that the provision of affordable financing will help drive demand and capital investments.

Distributed by APO Group on behalf of Afreximbank.

 

 




 

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