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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).

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ABB’s Application Configurator brings speed and precision to grid-feeding protection system design

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The Application Configurator is a free tool that enables engineers to generate a complete, validated bill of materials for grid-feeding protection systems in minutes rather than hours

CAPE TOWN, South Africa, April 7, 2026/APO Group/ –As distributed energy resources (DERs) scale rapidly across Africa and globally, the pressure to design safe, compliant and grid-stable protection systems has never been greater. ABB, a global leader in electrification solutions for the energy transition, is meeting this challenge head-on with its Application Configurator.

The Application Configurator is a free tool that enables engineers to generate a complete, validated bill of materials for grid-feeding protection systems in minutes rather than hours.

In an exclusive interview with ESI Africa (published by VUKA Group), 3 experts unpack how DER is reshaping the electricity network and how a smart solution makes the connection quick and manageable.

DERs are reshaping the grid — and testing its limits

Rising DER penetration is fundamentally reshaping grid dynamics and challenging existing infrastructure. Grid-feeding protection (which prevents faults and islanding) is increasingly difficult to implement given the diversity of grid codes, architectures and regional standards. Designing flexible, adaptive solutions is now essential to maintaining grid stability while keeping projects on schedule.

Africa’s energy transition: opportunity and complexity

South Africa exemplifies both the scale of opportunity and the complexity of the challenge. The country is integrating a rapidly growing installed base of distributed energy resources into an already strained electricity grid. Grid connection capacity has long been a bottleneck, but a major national upgrade programme — encompassing new long-distance transmission lines and expanded large-scale transformer capacity — is now underway. This decade-long effort aims to ease severe congestion, address structural capacity constraints, and lower barriers to connecting new renewable projects.

Although national loadshedding has been suspended since late March 2024, load reduction remains common in areas where local networks risk overloading. In this environment, grid-feeding protection systems play a critical role: they help stabilise installations during periods of high stress and protect vulnerable infrastructure from failure.

Why automatic disconnection is non-negotiable

When DERs remain connected during a grid fault, they can amplify the problem rather than help contain it. If a localised grid issue occurs while DERs continue feeding power into an unstable system, what begins as a minor disturbance can escalate into a major disruption. Grid-feeding protection systems detect voltage and frequency deviations instantly, isolating DERs before cascade failures can develop — protecting both grid stability and worker safety.

Application Configurator: from hours to minutes

Selecting the right products for a grid-feeding system has traditionally been a time-consuming and error-prone process, requiring engineers to cross-reference extensive datasheets, technical catalogues and multiple product families. ABB’s Application Configurator fundamentally changes this workflow.

Through a guided four-step process, the tool automatically proposes the optimal electrical architecture based on project-specific parameters — including grid code standards, generation power, backup and interface devices, inverter details, short-circuit levels, and connection configuration. It draws on ABB’s full product portfolio and built-in engineering expertise to recommend protection devices, interface relays, disconnecting devices, surge protection, accessories, and communication or monitoring options.

The configurator automatically verifies selectivity, protection coordination, short-circuit withstand ratings, interface protection requirements, and component compatibility — significantly reducing the risk of mis-sizing or design errors. Users retain full flexibility to adjust quantities, swap components, or add accessories at any stage, with recommendations updating instantly. The output is a complete, validated bill of materials tailored to the specific project.

Free access for all engineers

Application Configurator is available at no cost to any engineer or project team, whether existing ABB customers or those new to ABB solutions. Users simply create an account, input their project details, and begin configuring immediately. No prior ABB relationship is required.

Upcoming webinar: design grid-feeding protection systems

ABB is hosting a webinar on 15 April 2026 demonstrating how Application Configurator simplifies and accelerates the design of compliant grid-feeding protection systems. The session will cover how the tool ensures safety, grid stability, availability, and power continuity across a range of project types.

Date: 15 April 2026

Times: 9:00 AM CET or 16:00 CET

Registration: (http://apo-opa.co/4ee7ITM)

About the experts:
Flurina Heuberger 
is Solution Product Manager at ABB Electrification, focusing on business strategy and innovation in the Solar, BESS, and Hydrogen sectors.
Maciej Maselek is Functional Analyst for the Application Configurator at ABB Electrification, where he ensures a seamless user experience and efficient application configuration.
Elvis Khumalo is Product Marketing Specialist for Low Voltage Products at ABB Electrification in South Africa, specialising in motor control, protection products, and solutions across industry segments.

Distributed by APO Group on behalf of VUKA Group.

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Energy

Can Equatorial Guinea Reposition as West Africa’s Gas Hub?

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As Equatorial Guinea advances third-party gas agreements and infrastructure plans, its hub ambitions will be showcased at the Invest in African Energy Forum, with Minister Antonio Oburu Ondo and senior industry leaders confirmed to attend

PARIS, France, April 7, 2026/APO Group/ –Equatorial Guinea is moving from strategy to execution in its bid to become a regional gas hub. A series of agreements signed in early 2026 – covering cross-border supply, upstream participation and infrastructure utilization – are positioning the country to monetize gas through existing assets and regional aggregation.

 

This agenda will take center stage at the Invest in African Energy (IAE) Forum in Paris, where Equatorial Guinea will feature in a dedicated Country Spotlight session led by Antonio Oburu Ondo, Minister of Mines and Hydrocarbons. With participation from key industry players, including Panoro Energy and Perceptum, EG Ronda bid round organizer, the forum will provide a platform to outline the country’s gas sector repositioning and where investors can engage.

Momentum behind this model has accelerated in recent months. In February 2026, Equatorial Guinea and Cameroon signed a unitization agreement to jointly develop the cross-border Yoyo-Yolanda gas fields, estimated to hold around 2.5 trillion cubic feet of gas. Production from the project is slated to feed directly into Equatorial Guinea’s Punta Europa complex, reinforcing the country’s hub strategy without requiring standalone export infrastructure.

Simultaneously, the government strengthened domestic supply through a Heads of Agreement with Chevron to expand the Aseng gas project, increasing GEPetrol’s stake from 5% to over 30%. This not only stabilizes production but also secures additional feedstock for downstream processing, linking upstream development directly to the hub model.

Rather than focusing on new LNG developments, Equatorial Guinea is aggregating domestic and regional gas volumes to maximize existing infrastructure. At the core of this approach is the Punta Europa complex on Bioko Island, one of sub-Saharan Africa’s most advanced gas processing hubs, with LNG, methanol and LPG facilities already in place. The current challenge is securing reliable feedstock as output from legacy fields such as Alba declines.

The Gas Mega Hub initiative offers a faster, more cost-effective route to monetization. By processing third-party volumes from Cameroon, and potentially Nigeria, the country can leverage existing facilities while avoiding the risks and capital intensity of greenfield LNG projects. This approach opens a spectrum of investment opportunities across gas aggregation, transport, processing and downstream integration, often structured through commercially aligned frameworks that reduce execution risk.

Policy and regulatory support are central to this transition. The Ministry of Mines and Hydrocarbons has prioritized regulatory alignment and cross-border cooperation, recognizing that successful hub development depends as much on enabling frameworks as on physical infrastructure. The recent agreements reflect growing clarity and investor confidence.

For the global investment community, IAE 2026 offers a strategic opportunity to engage directly with government and operators shaping the hub model. The participation of both policymakers and companies active in the sector reinforces the credibility and immediate relevance of Equatorial Guinea’s strategy.

Equatorial Guinea is no longer waiting for new discoveries to drive growth. By leveraging existing infrastructure, securing regional supply and building flexible commercial models, the country is positioning itself as a critical node for gas monetization in West Africa. Success here could extend the life of its assets while establishing a platform for regional energy trade.

IAE 2026 (https://apo-opa.co/41nyEZQ) is an exclusive forum designed to connect African energy markets with global investors, serving as a key platform for deal-making in the lead-up to African Energy Week. Scheduled for April 22–23, 2026, in Paris, the event will provide delegates with two days of in-depth engagement with industry experts, project developers, investors and policymakers. For more information, visit www.Invest-Africa-Energy.com. To sponsor or register as a delegate, please contact sales@energycapitalpower.com.

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

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Grey Connects the Africa-Canada Money Corridor With Instant Transfers via Interac

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Y Combinator-backed Grey now supports direct Canadian Dollar transfers to any Canadian bank account, starting at $2.50, with Interac delivering funds in minutes

SAN FRANCISCO, United States of America, April 7, 2026/APO Group/ –Sending money to Canada has been harder than it should be. Wire queues, unpredictable fees, days of uncertainty, whether you’re supporting family in Ontario, paying a Canadian contractor, or settling a business invoice. Starting today, Grey (https://Grey.co) users can send Canadian Dollars directly to any Canadian bank account, arriving in minutes via Interac for $3.00, or the next business day via bank transfer for $2.50. No percentage fee. No wire delays.

Canada is home to one of the world’s most diverse diaspora populations, with communities from Nigeria, India, the Philippines, and other emerging markets deeply connected to their homes. The corridor has been dominated by legacy services that charge $15-30 on a typical $500 transfer and settle in days. Grey’s flat fee and Interac delivery address both problems at once.

From Lagos to Mumbai to Manila, our users had someone in Canada they needed to pay, but no good way to do so

The Interac integration matters more than the price. Interac is the payment rail built into the daily financial life of virtually every Canadian bank account holder, the same network used for everyday domestic payments. When Grey settles through Interac, the transfer doesn’t enter a wire queue. It moves the way domestic payments do: fast, confirmed, and predictable. Recipients don’t need a new app or account. The money arrives at the bank, where they already have an account.

“Canada kept coming up. From Lagos to Mumbai to Manila, our users had someone in Canada they needed to pay, but no good way to do so. Expensive wires, slow settlement, no certainty. We fixed that,” said Idorenyin Obong, CEO and co-founder of Grey.

The service supports all Canadian banks for both personal and business accounts and joins Grey’s local-currency transfer network across 170+ destinations. Users can send from USD, EUR, GBP, or NGN balances, with individual transaction limits of $10,000 CAD and business limits of up to $100,000 CAD via bank transfer. Grey holds a Money Service Business license from FINTRAC in Canada and FinCEN in the USA.

Download the Grey app on iOS or Android, or visit https://Grey.co to send your first transfer to Canada.

Distributed by APO Group on behalf of Grey.

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