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West African Development Bank (BOAD): strong growth in financial indicators, XOF501 billion of funding granted and launching of the new strategic plan “Djoliba… The next step”

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African Development Bank

As part of the effort to consolidate the achievements of the plan Djoliba, the Council of Ministers has approved the new five-year strategic plan, “Djoliba… the next step”

DAKAR, Senegal, March 31, 2026/APO Group/ –Following the 150th ordinary meeting of its Board of Directors held on 25 and 26 March in Dakar, under the chairmanship of Mr. Serge EKUE, the WAMU Council of Ministers, at its meeting held on Friday 27 March, formally approved all of the institution’s strategic proposals. This dual approval confirms the Bank’s financial strength and officially launches its new 2026–2030 development cycle. The financial year ended 31 December 2025, reflects the Bank’s growing momentum, with significant growth across all key segments.

 

Indeed, total assets stood at XOF5,363 billion compared to XOF3,893 billion at the end of the FYE2024, representing a 38% increase. BOAD reported a net profit of XOF42.476 billion, compared to XOF39.402 billion at the end of 2024, representing an increase of approximately 8%. This profit further strengthens the institution’s equity and the special funds established in its books to support member countries. This strengthening of equity improves the Bank’s solvency ratios and increases its capacity to finance projects for the benefit of member countries. The Bank has maintained a solid and balanced financial structure, notably with effective equity amounting to XOF1,780.546 billion, representing 33.20% of the total balance sheet.

Building on its international reputation, the Bank continues to enjoy the full confidence of its partners and investors, thanks to the quality of its credit ratings. These Baa1 and BBB ratings, classified as “investment grade,” remain unchanged and have been confirmed by Moody’s and Fitch Ratings.

As part of the effort to consolidate the achievements of the plan Djoliba, the Council of Ministers has approved the new five-year strategic plan, “Djoliba… the next step” which calls for an unprecedented acceleration with a funding target of XOF6.5 trillion for the 2026–2030 period—nearly double that of the previous plan.

To support this ambition, BOAD specifically plans for:

  • The mobilization of XOF2.65 trillion in loans;
  • A securitization program of XOF1.1 trillion;
  • The transformation into BOAD Group incorporating specialized entities.

During the ordinary meeting held on 25 and 26 March 2026, the Board of Directors reviewed and approved several important matters pertaining to the Bank’s institutional life and approved 17 new projects totaling XOF501.568 billion, bringing the total amount of BOAD financing (all transactions combined) to XOF10,387.2 billion, since commencement of operations in 1976.

The Board approved the reappointment of the Audit Committee members and issued a favorable opinion on the institution’s 2025 annual report. The Board further approved the 2025 CSR annual report, the statement of recovery of BOAD loans as at 28 February 2026 and overall recovery situation as at 31 December 2025, the summary of impact assessments of BOAD’s operations carried out under the Plan Djoliba, and finally, the report on the implementation status of projects financed in Burkina Faso (2009–2024).

ITEMS FOR APPROVAL  

Strengthening governance, institutional support, and initiatives to support the Bank’s activities

Anti-corruption framework: policy for preventing and combating corruption (PPLCF), whistleblower protection policy (PPLA), policy for sanctioning wrongful practices (PSPR). The Board also strengthened the institution’s ethical framework by approving a new anti-corruption framework aligned with ISO 37001, affirming a “zero-tolerance” policy towards wrongful practices.

Third facility from Sumitomo Mitsui Banking Corporation (SMBC) to BOAD: a credit facility   to finance agricultural campaigns, including the purchase of agricultural inputs and the production and marketing cycles of cash crops, as well as the import and distribution of hydrocarbons in WAEMU member countries. Approved amount: €200 million euros, or XOF131.2 billion.

Grant from the Multilateral Investment Guarantee Agency (MIGA) to BOAD to strengthen the mainstreaming of gender and climate components into the Bank’s operations, through the development of e-learning modules, training for staff and clients, and the implementation of a tool for monitoring key gender indicators. Approved amount: up to US$299,167 or approximately XOF166.8 million.

Development projects for the West African sub-region

The approved loans are meant to partially finance the following projects:

Wassoulou Project (PDIW) – Côte d’Ivoire: to promote food security and cross-border trade between Côte d’Ivoire, Mali, and Guinea, through the construction of two dams and the development of 800 hectares of irrigated land. Approved amount: XOF29.7 billion.

Label d’Or SA – Togo: modernization of shea processing to benefit 33 women. Approved amount: XOF6 billion.

Cotton sector – Burkina Faso: purchase of 120,000 tons of agricultural inputs for the 2026–2027 cotton season.  Approved amount: XOF50 billion.

Cotton sector – Mali: partial funding of the 2025-2026 cotton season for the Compagnie Malienne pour le Développement des Textiles (CMDT) SA to collect and gin approximately 433,700 tons of seed cotton into lint. Approved amount: XOF25 billion.

Ouidah-Hillacondji road: widening of the Agonkanmey-Hillacondji corridor to reduce travel time by 50% and the number of accidents by 60% upon completion in 2030. Approved amount: XOF30 billion.

Yabayo-Buyo–Côte d’Ivoire Road: improving access and enhancing road safety. Approved amount: XOF30 billion.

Air Côte d’Ivoire Aircraft Maintenance Center (MRO) – Côte d’Ivoire: construction of a regional aircraft maintenance center in Abidjan to service its fleet and those of airlines operating in West and Central Africa. Approved amount: XOF35 billion.

Digital transformation of public services – Senegal: modernization of data centers and the SHARE submarine cable. Approved amount: XOf30.9 billion.

Koudougou Solar Photovoltaic Center by SONABEL – Burkina Faso: expansion to 40 MWp with a 10 MW/30 MWh battery storage system, to improve access to electricity and reduce CO2 emissions. Approved amount: XOF16.468 billion.

Energy security by the Société Nationale Burkinabè d’Hydrocarbures (SONABHY) – Burkina Faso: import of approximately 500,000 m³ of liquid and gaseous hydrocarbons. Approved amount: XOF45 billion.

Northern segment of the gas pipeline – Senegal: construction of an 85-km pipeline to ensure energy sovereignty. Approved amount: XOF50 billion.

Construction of a 50 MWp solar photovoltaic power plant and a 30 MW/90 MWh storage system in Linguère by SENELEC – Senegal: to better meet electricity demand and increase the share of renewable energy in Senegal’s energy mix. Approved amount: XOF41.5 billion.

Construction of 4,300 social and affordable housing units in Côte d’Ivoire – Phase 4 of 840 housing units at Bouaké: to help improve living conditions and reduce poverty. Approved amount: XOF42 billion.

Construction and equipment of six (6) vocational high schools in agriculture and agri-business (LPAA) – Phase 2 – Senegal: at Louga, Tambacounda, Kolda, and Matam to strengthen the range of national vocational training courses by developing skills tailored to market needs. Approved amount: XOF30 billion.

Construction and operation of a 4-star Mövenpick-branded hotel by Africa Hospitality Development (AHD) SA at Assinie, Côte d’Ivoire: to develop the coastal tourism sector. Approved amount: XOF10 billion.

Refinancing facilities for CORIS Bank International (CBI) SA – Burkina Faso: to promote access to renewable energy and support the cash flow needs of the National Security Stock Management Company (SONAGESS) for the establishment of food stocks for the 2025/2026 season. Approved amount: XOF20 billion.

Refinancing facility for CORIS Bank International (CBI) – Senegal: to expand its medium-term financing activities for productive investment projects in support to SMEs and SMIs, to accelerate its development and contribute to Senegal’s economic growth. Approved amount: XOf10 billion.

ITEMS FOR INFORMATION

The Board took note of the following items submitted for information:

  • Minutes of the 53rd meeting of BOAD Audit Committee
  • Implementation of the 2021–2025 strategic plan DJOLIBA: review at the end of the 5th year
  • Review of the 2020-2024 CSR Strategy
  • Status of BOAD’s operations per country as of 31 December 2025
  • Status of the utilization of resources mobilized by BOAD as at 31 January 2026
  • Report on the execution of BOAD’s sixth bond issue on the international financial market in October 2025
  • Review of the implementation of BOAD IT Blueprint (2021-2025)
  • Grant from the Global Environment Facility (GEF) to finance the Grand Nokoué greening program in Benin
  • Grant from the Global Environment Facility (GEF) to finance the Integrated Climate Adaptation and Resilience Project (PAREC) in Mali
  • Grant from the Global Environment Facility (GEF) to finance the Climate Adaptation and Resilient Agriculture Project in the Central Plateau (PACAR) in Burkina Faso
  • Implementation report on the 2025 annual tranche of BOAD’s 2025-2027 programme-budget
  • Compendium of recommendations and decisions adopted at BOAD Board meetings held in 2025
  • Minutes of the regular meeting of the WAMU Council of Ministers held on 29 December 2025 in Cotonou, Benin.

In his closing remarks, the Chairman of the Board of Directors expressed his gratitude to the Senegalese authorities and the technical teams for all the commodities and facilities provided for the organization of the meeting under congenial conditions.

Distributed by APO Group on behalf of Banque Ouest Africaine de Développement (BOAD).

Energy

Nigeria Mining Week promises high-level engagement on critical minerals and industrialisation roadmap

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“New Critical Minerals Forum will focus on needs for global energy transition”

CAPE TOWN, South Africa, July 28, 2026/APO Group/ –Hot on the heels of Nigeria’s unveiling of a strategic roadmap designed to convert the country’s mineral wealth into investments in clean energy manufacturing and domestic value addition, the organisers of the Nigeria Mining Week conference and expo have revealed this year’s packed and topical programme.

Convening at the Abuja Continental Hotel in the Nigerian capital from 13 to 14 October, this longstanding mining gathering of note supports Nigeria’s ambition to become a regional refining and processing powerhouse. The theme of this year’s event is “Unlocking Investment and Growth through Partnerships.”

DOWNLOAD THE BROCHURE (https://apo-opa.co/4yPtbdV)

Unveiling strategic roadmaps

Says Samukelo Madlabane, Event Director – Mining Portfolio, VUKA Group: “The Nigerian government has sought to boost beneficiation and industrialisation in its mining sector by mandating local processing, opening large scale mineral plants and unveiling strategic roadmaps that link critical minerals to clean energy manufacturing. Recent initiatives focus on lithium, copper and bauxite, aiming to move beyond raw exports and build integrated value chains.”

Earlier this month, the Council for Critical Minerals Development in the Global South presented a Critical Minerals Roadmap to the Minister of Solid Minerals Development, Dr Dele Alake, outlining strategies to harness Nigeria’s lithium, copper and bauxite resources in order to strengthen local industries, advance mineral beneficiation and draw investment into green manufacturing.

Madlabane adds: “Nigeria Mining Week is perfectly timed for this defining moment in this nation’s mining sector. Our new Critical Minerals Forum will focus on the minerals needed for the global energy transition, such as lithium, REEs, graphite, copper, and other battery or tech minerals, and how Nigeria must position itself to attract serious investment and unlock the country’s rapidly expanding opportunities.”

The Nigeria Mining Week programme highlights include:

Critical Minerals Forum: 13 October

  • Strategic Leadership in the Critical Minerals Race

This session will focus on positioning Nigeria with US and EU MSP initiatives and Asian cathode makers, ensuring bankable offtake term sheets, scaling REE projects responsibly, building infrastructure and traceability rules, and securing independent assurance to strengthen buyer confidence.

  • Building Reliable Pathways from Nigeria to Global Battery, Magnet & EV Markets

International buyers demand clear technical specifications, impurity thresholds and QA/QC standards before agreements with Nigerian projects. Success depends on structuring long term supply contracts, strengthening traceability and ESG documentation, and building credibility with partners across Asia, Europe, the US and the Gulf to secure sustainable supply chain integration.

Exploration & Geological Data:

Unlocking Nigeria’s Exploration Potential

This session explores how investment grade datasets, AI driven discovery and geoscience portals can unlock capital for Nigeria’s mining sector. Experts highlight data standards, licensing simplification and environmental safeguards to accelerate investor confidence and global competitiveness within 12 months.

Financing & Investment:

Financing Exploration & Junior Mining Companies

This session examines Nigeria’s data room requirements, capital structures and licensing reforms to attract investment. Experts highlight clean titles, ESG credibility, traceability and offtake signals as essential for DFIs, investors and global buyers to commit confidently within tight timelines.

Our new Critical Minerals Forum will focus on the minerals needed for the global energy transition, such as lithium, REEs, graphite, copper, and other battery or tech minerals

Industrialisation:

From Ore to Industry – Beneficiation & Refining

This session focuses on commissioning strategies for Nigeria’s lithium and gold projects, contracting for feed security, realistic OPEX benchmarks, and training partnerships. Experts outline pathways from first product to battery grade chemicals and value added metals supported by regulatory adjustments.

Gemstones:

Developing Nigeria’s Gemstone Value Chains

Exploring the formalisation of Nigeria’s artisanal gemstone mining through cooperatives, traceability and certification, experts will highlight international grading standards, models from Tanzania and Zambia, domestic gemstone clusters and incentives to attract global buyers, processors and jewellery manufacturers.

Policy, Regulation & Governance:

Building a Clear, Predictable and Competitive Policy Environment

Nigeria’s mining sector needs regulatory reforms to strengthen licensing predictability, improve contract stability, enhance transparency through NEITI and MCO, align beneficiation and ASM formalisation with global standards, and draw lessons from Zambia, Namibia, Botswana and Ghana to boost investor confidence.

ESG & Sustainability:

ESG that Wins Investments

This session will focus on how Nigeria must define evidence grade traceability for US and EU buyers, adopt global water and tailings practices, apply CDA designs from Ghana Botswana and Peru, meet gender inclusion KPIs within 12 months, and secure independent assurance to strengthen financing and offtake terms.

Infrastructure & Power Integration:

Power to Mines & Logistics for Industrialisation

This session will examine IPP and cogen models from India Australia and Brazil, lessons from the Lobito Corridor for Nigerian rail port power integration, ballast and aggregate standards, digital logistics tools to reduce losses, and PPP structures enabling long tenor corridor financing.

Side events and forums

Other well-known side events and forums that make a welcome return to Nigeria Mining Week and always add to the engaging atmosphere include:

  • The Gold Forum
  • The Steel & Industrial Minerals Forum
  • The Women in Extractive Industries Forum
  • The CEO Roundtable
  • The Deal Room
  • – Project Showcase & Private Capital Engagement

Industry support

Over the last 11 years, Nigeria Mining Week has become thé gathering place for many mining pioneers and suppliers, and many have become longstanding partners of the Abuja gathering. Titan Minerals Ltd is returning as the diamond plus sponsor; KMDC, Kursi, Lovol, Sinogrand, and XCMG have already signed up as diamond sponsors; and SMT Nigeria is back as a platinum sponsor.

The event will gather 3,000+ attendees, 75+ world class speakers and 150+ exhibitors and solution providers. Countries that are expected to have a strong presence with international pavilions are UK, EU, US, China, UAE, Canada, South Africa and India.

The Nigeria Mining Week conference and expo is organised by the Miners Association of Nigeria, in partnership with PwC, VUKA Group and Mining Review Africa, with the Nigerian Ministry of Mines and Steel Development as official host. NEITI is the event’s transparency partner.

DOWNLOAD THE BROCHURE (https://apo-opa.co/4yPtbdV)

Distributed by APO Group on behalf of VUKA Group.

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Customer Experience Management (CEM) Africa 2026 Welcomes Three Influential Global Speakers

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Together, they represent three distinct but complementary perspectives on leadership, customer experience and business transformation

I am particularly keen to explore Cape Town’s seamless integration of global brands and unique local retailers, alongside its exceptional culinary scene and vibrant public spaces

CAPE TOWN, South Africa, July 28, 2026/APO Group/ –CEM Africa, Africa’s leading customer experience conference, has announced three internationally respected speakers who will take to the stage at CEM Africa 2026, taking place from 18 – 20 August 2026 in Cape Town.

 

Bringing together senior leaders from customer experience, marketing, digital transformation, retail, customer service and business strategy, CEM Africa continues to attract influential voices who challenge conventional thinking and share practical insights that organisations can apply to create stronger customer relationships and better business outcomes.

Joining this year’s programme are Martin Urrutia, Global Head of Retail Experience at The LEGO Group; Bruce Whitfield, one of South Africa’s most respected business journalists and best-selling authors; and Zahirah Variawa, Emmy-nominated television presenter, award-winning travel producer and destination marketing strategist.

Together, they represent three distinct but complementary perspectives on leadership, customer experience and business transformation.

Creating World-Class Customer Experiences

Making his South African debut at CEM Africa, Martin Urrutia brings extensive global expertise in retail experience design and customer engagement.

As the Global Head of Retail Experience at The LEGO Group, Martin leads the development of retail concepts and customer experiences that strengthen one of the world’s most recognised brands. His work demonstrates how thoughtful experience design, innovation and brand strategy can be translated into commercially successful customer experiences across global markets.

During his session, Martin will share practical insights into designing memorable retail experiences that strengthen customer relationships while delivering measurable business value.

Speaking ahead of his visit to Cape Town, Martin said:

“During my visit to Cape Town, I look forward to engaging with the city’s authentic experiences, local culture, and distinctive destinations, all of which continue to inform and inspire the retail and brand experiences I create. I am particularly keen to explore Cape Town’s seamless integration of global brands and unique local retailers, alongside its exceptional culinary scene and vibrant public spaces — environments that foster connection, discovery, and new perspectives.”

Leadership in an Age of Uncertainty

Bruce Whitfield has built a reputation as one of South Africa’s most trusted business commentators, interviewing some of the world’s leading executives, entrepreneurs and innovators throughout his career. Drawing on decades of experience covering business, leadership and economic change, Bruce will explore how leaders can make better decisions, embrace uncertainty and identify opportunity in rapidly changing environments.

His keynote will challenge delegates to rethink how resilience, adaptability and decisive leadership can become competitive advantages in today’s business landscape.

The Power of Storytelling to Shape Experiences

Joining the programme is Zahirah Variawa, whose career spans more than 16 years across Africa, the Middle East and international markets.

An Emmy-nominated television presenter, award-winning travel producer, content creator and destination marketing strategist, Zahirah has partnered with tourism boards, governments, airlines and luxury hospitality brands to shape how destinations are experienced and remembered. Beyond broadcasting, she advises governments and international organisations on destination marketing strategy, facilitates industry dialogue and champions tourism as a catalyst for economic growth across Africa.

At CEM Africa 2026, Zahirah will explore how storytelling, human connection and authentic experiences influence perception, build trust and create lasting emotional connections. Her session will demonstrate why the principles of destination branding and experience design are increasingly relevant to organisations seeking to differentiate themselves through customer experience.

A Platform for Africa’s Customer Experience Leaders

The announcement reinforces CEM Africa’s position as the continent’s premier gathering for senior customer experience professionals, bringing together business leaders to explore the ideas, strategies and innovations shaping the future of customer engagement.

From world-class retail innovation and leadership to the power of storytelling, delegates will gain practical insights from speakers whose experience extends well beyond traditional customer experience disciplines. Together, they demonstrate that exceptional customer experiences are shaped by design, strengthened by leadership and brought to life through authentic human connection.

CEM Africa 2026 takes place in Cape Town from 18–20 August 2026, bringing together senior decision-makers from financial services, retail, telecommunications, healthcare, technology, government and other leading industries for three days of learning, networking and business collaboration.

For more information and to register, visit the CEM Africa website.

CEM Africa.com (https://apo-opa.co/4wtCFtN)

View the event programme https://apo-opa.co/4wr3j6r

Ticket Options https://apo-opa.co/4bgs9gQ

Distributed by APO Group on behalf of VUKA Group.

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Energy

Gabon Opens the Next Chapter of Offshore Growth as Hydrocarbons Minister Clotaire Kondja Joins African Energy Week (AEW) 2026

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Gabon Petroleum and Gas Minister Clotaire Kondja will speak at AEW 2026, highlighting offshore expansion, gas reforms and new investment opportunities across the country

CAPE TOWN, South Africa, July 27, 2026/APO Group/ –Clotaire Kondja, Gabon’s Minister of Petroleum and Gas, has been confirmed as a speaker at African Energy Week (AEW) 2026, bringing one of Central Africa’s foremost architects of upstream reform to the continent’s premier energy investment event. Since taking office in January 2026, Minister Kondja has accelerated efforts to attract international capital, unlock Gabon’s largely untapped offshore potential and commercialize its substantial natural gas resources.

Taking place in Cape Town from October 12‒16, AEW 2026 serves as the continent’s leading platform for energy investment, convening government leaders, operators, financiers and technology providers to drive deals across Africa’s oil, gas and energy sectors. With more than 2 billion barrels of proven oil reserves and significant untapped offshore acreage, Gabon continues to offer prolific investment opportunities that will be showcased to global investors in Cape Town.

Around 72% of the country’s deepwater acreage remains unexplored, and the government is actively opening new opportunities for investors. Speaking at the Invest in African Energy Forum in Paris in April, Minister Kondja confirmed that Gabon expected to finalize PSCs with ExxonMobil and bp, converting MoUs signed in October 2025 into active deepwater exploration licenses. The government’s modernized Hydrocarbons Code and enhanced fiscal framework are further strengthening the investment case, creating competitive conditions for companies pursuing frontier exploration, mature field redevelopment and long-term production growth.

Minister Clotaire Kondja is leading a new era of investment across Gabon’s oil and gas sector through competitive reforms, frontier exploration and strategic gas development

Upstream investors are targeting frontier offshore blocks and redevelopment of mature assets, while midstream opportunities include new pipelines, storage infrastructure and refinery upgrades. At the same time, the government’s gas modernization agenda is opening investment across LNG exports, gas-to-power projects and downstream industrial gas applications as Gabon positions itself as a regional petroleum and gas hub. The government has also eliminated signature bonuses for deepwater and ultra-deepwater blocks while launching a 2026 licensing campaign covering roughly 70% of the country’s available offshore acreage.

A new investor-friendly Gas Code is under development, complemented by plans for a 130‒150-km pipeline linking Gamba to Libreville by early 2028. The strategy is supported by Perenco’s $2 billion Cap Lopez LNG project, expected to begin operations in 2026 through an FLNG facility capable of producing 700,000 tons of LNG and 25,000 tons of LPG annually while significantly reducing gas flaring.

Investment activity is gathering pace across the sector. BW Energy, Panoro Energy and Gabon Oil Company approved the $300 million Bourdon offshore development in May 2026, targeting first oil in the first quarter of 2028 from approximately 25 million barrels of recoverable reserves. BW Energy and Panoro Energy are also progressing the MaBoMo Phase 2 development, expected to deliver first oil during the first half of 2027, while Assala Energy’s Magoga-A discovery confirmed 8m of net oil play in the Gamba Sandstone formation. Meanwhile, investment continues to accelerate across the midstream segment through planned gas gathering infrastructure, expanded storage capacity and refinery modernization, supporting the government’s ambition of building an integrated petroleum industry while capturing greater value from domestic gas production.

“Minister Clotaire Kondja is leading a new era of investment across Gabon’s oil and gas sector through competitive reforms, frontier exploration and strategic gas development. As Gabon opens new offshore opportunities and advances major infrastructure projects, his insights at AEW 2026 will be invaluable for investors looking to participate in one of Africa’s most dynamic energy markets,” says NJ Ayuk, Executive Chairman, African Energy Chamber.

Beyond showcasing Gabon’s investment agenda, Minister Kondja’s participation will contribute to broader discussions on how African producers can remain globally competitive amid shifting capital flows, evolving energy demand and growing pressure to deliver long-term energy security. His perspective will add to high-level dialogue between policymakers, operators and financiers focused on accelerating investment and strengthening Africa’s role in the global energy landscape.

Distributed by APO Group on behalf of African Energy Chamber.

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