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Solar boost for Benin (Image source: Adobe Stock)

Energy

Benin is investing €45mn in four solar power plants, backed by international financiers, to increase domestic electricity production, reduce energy imports, improve energy security and expand clean energy access

It follows the signing of €30mn in financing agreements for the IPP50 solar project from a group of leading financiers that include AXIAN, a pan-African group, Caisse des Dépôts et Consignations du Bénin, International Finance Corporation (IFC), a member of the World Bank Group, and Proparco, the private financing arm of Agence Française de Développement (AFD).

The agreements aim to increase domestic power generation, strengthen energy security and expand access to renewable energy across Benin.

The country's first independent power producer (IPP) solar project is expected to supply clean electricity to 383,000 people, reduce reliance on imported power and avoid around 62,000 tonnes of CO2 emissions annually.

Benjamin Memmi, CEO of AXIAN Group's energy division, said: IPP50's financial close marks a milestone for AXIAN and the development of Benin's energy sector.

“This project, comprising four solar power plants with a combined capacity of 63 MW, reflects the ambition of the Beninese authorities to accelerate the country's energy transition, particularly through strong partnerships with the private sector,” Memmi said.

“With IPP50, we are once again demonstrating our ability to bring together international partners and financing to turn a vision into tangible infrastructure that serves communities and supports economic development.”

Memmi also cited AXIAN’s partnership with Sika Capital, an investment vehicle jointly owned by Caisse des Dépôts et Consignations du Bénin and Egnon Consulting, which “reflects our conviction that Africa's energy transition depends on strong local roots and long-term commitments.”

Landmark solar financing

A first for solar power financing in BeninThe IPP50 project, with a total project cost of €45mn, represents a significant step towards opening up Benin's power generation sector to private investment.

The project is also part of a public-private partnership structured around concession agreements granted by the Benin government, which is supporting its development and helping to establish a secure contractual framework.

It also contributes to Benin's National Energy Compact, which aims to provide approximately 928,000 additional households with access to electricity by 2030, raise the national electrification rate to at least 70%, and increase the share of renewables to 30% of the power generation mix.

The €30mn financing package is provided jointly by Proparco and IFC, which is mobilising resources from the Clean Technology Fund (CTF), an international fund dedicated to financing clean technologies in developing countries.

It will support the construction and operation of the four solar photovoltaic power plants with a combined capacity of 62 MWp in Natitingou, Djougou, Parakou and Bohicon.

Once operational, the plants are expected to generate approximately 110 GWh of renewable electricity annually, equivalent to an increase of around 17% in domestic power generation over the 2028–2035 period.

Nathalie Kouassi Akon, World Bank Group regional director, said financing the IPP50 project demonstrates the role of the private sector in accelerating Benin's energy transition.

“By supporting construction of the solar power plants alongside Proparco, IFC is helping mobilise long-term capital to expand the supply of clean electricity, strengthen the country's energy security and pave the way for further private investment in renewable energy.”

The new investment is also seen to be helping to de-risk Benin's first private-sector, enabling private investors to commit and construction to begin.

“Alongside the Beninese authorities, AXIAN Group, Sika Capital, French contractor Sagemcom and IFC, this transaction reflects our commitment to Benin's energy sovereignty, in full complementarity with the work of AFD Group in the country,” said Sadio Dicko, Proparco's regional director for West Africa.

Electricity generated by the plants will be sold to Société béninoise de production d'électricité (SBPE) under long-term power purchase agreements (PPAs).With 20-year concessions and commercial operations scheduled to begin in the first quarter of 2028, IPP50 is expected to make a lasting contribution to Benin's electricity supply.

Aerial view of Conakry, Guinea (Image source: Adobe Stock)

Construction

A number of key infrastructure projects in Africa are set to advance after the UK government’s export credit agency backed funding worth £330mn for contracts secured by various British firms

The export contracts will help deliver nine major infrastructure projects across Guinea and Benin and will see UK companies supplying goods and services spanning education, clean water, electricity transmission and government infrastructure.

The deals are being supported by £1.1bn in financing and guarantees from UK Export Finance (UKEF) and were unveiled at the fifth UK-West and Central Francophone Africa Trade and Investment Forum (WCAF) in Conakry, Guinea.

The forum brought together British businesses and potential partners from across the region.

UKEF announced that it is also increasing its exposure capacity across the region by £1.7bn, giving it greater capacity to support future projects involving UK firms.

Key projects covered include:

• £91 million to back the Guinea Regional Water Project, a multi-region programme expanding access to clean, potable water through new treatment and distribution infrastructure, delivered by UK-headquartered Aqua Africa, which has previously secured UKEF-backed financing for water infrastructure in the region.

• £129 million towards the La Cotiere Conakry Transmission project in Guinea, part of a wider electricity network programme to improve power distribution around the country’s coastal region, with the contract secured by Elecnor and expected to create UK supply-chain opportunities in transmission equipment, grid technology and engineering services.

• £82 million to help fund a new government administrative complex in Benin, consolidating public services within a modern urban development, with the contract awarded to ACC UK Group Ltd and opportunities for UK firms to contribute design, engineering, security systems and specialist building services.

• £75 million to support a large-scale education infrastructure programme delivering new primary and secondary schools across four regions, improving access to education for thousands of children through modern classrooms, sanitation and related facilities, with the contract won by Planet One.

“British businesses have won a huge number of contracts to support key infrastructure projects across the region in recent years, driving job creation in the UK while helping our partners in francophone Africa build the infrastructure they need,” said UKEF’s CEO Tim Reid.

“This is part of the reason we hold the WCAF: we’ve seen many deals signed over the years, and it highlights how UKEF can make a real difference around the world while driving growth in every postcode of the UK.”

Liebherr powers Zimbabwe's next platinum mining milestone. (Image source: Liebherr)

Mining

The arrival of a 300-tonne Liebherr R 9350 excavator at Zimbabwe's Karo Platinum Project in February 2026 marked a significant milestone in the development of one of the country's major greenfield mining operations.

Standing approximately 8.5 metres tall, the mining excavator represents more than an addition to the site's equipment fleet; it is part of the heavy-duty machinery being deployed to prepare the mine for its future production phase.

The machine was delivered as part of the fleet operated by EPSA Group, an international earthmoving services company awarded the contract for the project. From the beginning of site development, the R 9350 has been involved in large-scale material movement, supporting the preparation of the mine's infrastructure and operational areas.

The deployment comes as EPSA Group prepares for the project's transition towards production, with the first ore expected to be processed in the second half of 2027.

‘EPSA is preparing for the first ore at Karo to be milled in the second half of 2027, and we’re proud that Liebherr machines will play a role in reaching this critical point,’ says Claus Dieter Homberg, regional sales manager, Liebherr-Mining Equipment Colmar SAS.

A major mining project demands high-capacity equipment

The Karo Platinum Project is situated along the eastern and western sections of Zimbabwe's Great Dyke, one of the world's largest igneous complexes and an important geological formation containing the second-largest deposit of platinum-group minerals.

The development is planned as an open-pit mining operation for its first decade, after which activities are expected to transition underground. This phased approach requires a fleet capable of handling substantial material volumes while operating under demanding mining conditions.

For EPSA Group, equipment selection was therefore an important consideration in establishing the project's operational capabilities. The Liebherr R 9350 was selected for its combination of performance, reliability and suitability for intensive mining applications.

Its deployment during the mine's early development phase is expected to support the material handling requirements associated with establishing the operation and preparing for future production.

First mining-class Liebherr excavator delivered in Zimbabwe

The arrival of the R 9350 also represents a milestone for Liebherr, marking the first delivery of a mining-class excavator from the company into Zimbabwe.

Getting the machine operational required coordination between several teams across Liebherr's international and regional network.

The excavator was manufactured at Liebherr's production facility in Colmar, France, which worked alongside EPSA Group to coordinate its delivery to Zimbabwe. Following its arrival at the mine, a product support representative from Colmar supervised the assembly process.

The assembly team primarily comprised personnel from Liebherr-Africa (Pty) Ltd, supported by specialists from Zimbabwean dealer R&S DieselPro Services. The Colmar representative subsequently remained at the project for seven additional weeks, providing technical assistance and practical training to personnel responsible for operating and maintaining the equipment.

This collaborative approach helped establish the technical and operational support required to commission the excavator and prepare the local teams for its continued operation.

Regional service network strengthens equipment support

EPSA Group's relationship with Liebherr spans approximately 15 years, with the two companies having worked together at mining sites across several international markets.

The partnership has developed through experience with Liebherr equipment and its ability to provide machinery and technical assistance across different applications. This established relationship was an important factor in selecting the R 9350 for the Karo operation.

Although Liebherr-Africa is the company's nearest sales and service organisation to the project, its facilities are located more than 800 kilometres away. To ensure timely assistance, R&S DieselPro Services will provide the primary on-site support, covering routine maintenance, technical services and spare parts availability.

The Zimbabwean dealer has been working with Liebherr-Africa since 2017, initially supporting its earthmoving equipment range before extending the relationship to mining machinery in 2025.

Its established familiarity with Liebherr products provides a local support foundation, while Liebherr-Africa remains available to assist with more specialised technical requirements when necessary.

‘Being associated with the commissioning and support of this flagship machine is a testament to our commitment to delivering world-class equipment, technical expertise and after-sales support to Zimbabwe's growing mining sector,’ commented Kevin Wilson, general manager, technical, R&S DieselPro Services.

The partnership between Liebherr-Africa and R&S DieselPro Services is expected to play an important role in maintaining equipment availability and supporting EPSA Group as mining activities at Karo expand.

Additional excavators to support the production ramp-up

The initial R 9350 delivery was followed by a second unit in July 2026, with a third excavator scheduled to arrive before the end of the year.

The additional machines will contribute to the project's ongoing development requirements as it moves closer to its planned first ore processing milestone in 2027.

As the Karo Platinum Project progresses from initial site preparation towards full operational readiness, the expanding Liebherr fleet is expected to support the material movement requirements of the open-pit operation.

The deployment also demonstrates the importance of combining high-capacity mining equipment with reliable technical assistance and an established regional service network, particularly for large-scale greenfield developments.

‘Behind every Liebherr machine is a team committed to keeping it performing at its best,’ says Homberg. ‘We’re looking forward to supporting EPSA Group as operations at Karo continue to grow and evolve over the coming years."

Revitalising Africa's railways (Image source: Adobe Stock)

Logistics

Preferred bidders for the engineering, procurement and construction (EPC) contracts on the 830-kilometre Zambia Lobito Railway Project have been named

It follows a competitive international tender process by lead sponsor and developer, Africa Finance Corporation (AFC).

The consortium comprising Webuild S.p.A., Mota-Engil and IC İçtaş Construction has been selected as the preferred bidder for the Zambian section, while the consortium comprising Mota-Engil and Odebrecht Engineering and Construction has been selected as preferred bidder for the Angolan section of the project.

Preferred bidders:

Zambian section: Webuild S.p.A., Mota-Engil and IC İçtaş Construction

Angolan section: Mota-Engil and Odebrecht Engineering and Construction

AFC announced that contract negotiations will begin in November 2026, with the aim of concluding EPC agreements within eight to twelve weeks, subject to technical, commercial and legal negotiations.

Key infrastructure project 

The Zambia Lobito Railway Project is expected to unlock billions of dollars in economic value through new opportunities for trade and industrialisation along the corridor connecting Zambia to Angola's Atlantic coast, facilitating value addition to the region’s strategic minerals, including copper and cobalt, as well as agricultural products.

According to the AFC, by reducing logistics costs and improving access to global markets, the railway will strengthen regional integration and enable African economies to process their resources locally.

The project is being developed by AFC through the Trans African Rail Company FZCO (TARC), the holding company, and the project companies, Zambia Lobito Railway Limited and Zambia Lobito Railway S.A.

“Africa’s growing market needs infrastructure that connects our resources to production, our producers to consumers, and our people to opportunity,” said Samaila Zubairu, AFC’s president and CEO.

“The Zambia Lobito Railway will help build competitive battery mineral and agricultural value chains, anchoring new industrial cities and creating jobs along the corridor.”

Zubairu said the selection of the preferred EPC bidders brings the project closer to delivery.

“Working with our partners, we are building the foundations for African economies to produce more, trade more and retain more of the value they create.”

Project makes headway

The announcement follows significant progress since the signing of a memorandum of understanding in October 2023 involving the governments of Angola, Zambia, the USA and Italy, as well as the European Union and the African Development Bank.

Subsequent milestones include the completion of feasibility and technical studies, the signing of concession agreements in 2024 and intergovernmental agreements in 2025, and the completion of preliminary engineering designs.

The Lobito Corridor is a flagship project under Italy’s Mattei Plan for Africa, a government initiative to strengthen investment and economic partnerships with African countries.

It includes a €250mn financing facility from Italian development finance institution CDP, backed by Italian export credit agency SACE, to support Italian participation in infrastructure projects, including the railway.

AFC and its partners have also advanced the Environmental and Social Impact Assessments and Resettlement Action Plans, alongside preparations for the competitive EPC tender process.

Zubairu added that AFC remains committed to advancing this “transformative” infrastructure investment alongside its partners and mobilising capital to accelerate its implementation.

Africa can still thrive amid global geopolitical upheaval (Image source: Adobe Stock)

Finance

Africa has an opportunity to convert geopolitical tensions and shifting global trade patterns into a catalyst for industrialisation and long-term economic resilience, according to a new Afreximbank report

Leveraging Geopolitics for Trade and Industrialisation in Global Africa examines trade and economic developments across the continent and globally, and outlines strategies for African nations to benefit from supply chain realignments and changing geopolitical dynamics.

“Africa stands at a critical juncture,” said Dr Yemi Kale, group chief economist and managing director of research and trade intelligence at Afreximbank.

“Geopolitical tensions and economic fragmentation are reshaping global trade patterns, but they also present a historic opportunity for the continent. By strategically leveraging these shifts, Africa can build a more resilient, competitive and inclusive economic future.”

Despite a challenging global backdrop, the report highlights Africa’s strong recent economic performance.

While global economic growth slowed to 3.4% in 2025 and is projected to ease further to 3.1% in 2026, Africa’s real GDP growth accelerated from 3.4% in 2024 to 4.5% in 2025, outperforming the global average.

Africa’s merchandise trade also expanded by 6.1% to approximately US$1.5 trillion, while aggregate inflation fell significantly from 21.6% in 2024 to 13.1% in 2025.

According to Afreximbank, these gains reflect improved macroeconomic management, ongoing policy reforms and the role of development finance institutions in supporting economic stability.

However, the report warns that significant structural challenges remain.

Africa’s trade finance gap is estimated at approximately US$74bn in 2025, limiting the continent’s ability to fully capitalise on trade and industrial opportunities.

The situation is compounded by foreign exchange constraints and a continued decline in correspondent banking relationships.

The report also notes that evolving shipping routes and persistent disruptions in global logistics networks are increasing freight costs and extending delivery times, particularly for economies dependent on imported inputs and external markets.

To strengthen resilience, Afreximbank identifies accelerated implementation of the African Continental Free Trade Area (AfCFTA), expansion of the Pan-African Payment and Settlement System (PAPSS) and reforms to the global financial architecture as key priorities.

The report notes that stronger industrial ecosystems, increased intra-African trade and sustained financial support will be critical if the continent is to transform geopolitical disruption into sustainable and inclusive economic growth.

“It is imperative for the continent to act decisively to strengthen regional value chains, deepen industrial capacity, expand access to trade finance, and accelerate continental integration,” said Kale, adding that Africa “cannot afford to delay.”

Read more:

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Prometal SA to boost Cameroon steel sector (Image source: Adobe Stock)

Manufacturing

Cameroon is stepping up efforts to expand domestic manufacturing and reduce reliance on imported industrial goods, with steel processing playing a growing role in the country’s industrialisation drive

Rising demand from the construction, infrastructure and agricultural sectors is creating opportunities to develop more local value chains and increase the production of finished goods.

It is against this backdrop that Prometal SA is expanding its steel processing capacity, backed by €40mn in fresh financing from Afreximbank.

The funding comes from an African Export-Import Bank (Afreximbank) revolving working capital facility and will support processing and transforming semi-processed steel into a range of finished steel products, including agricultural equipment and construction materials.

Hayssam El Jammal, Prometal SA’s CEO, said it marked a new stage for the company’s growth plans.Jammal said the growth strategy combines “vertical integration across the value chain from the processing of raw materials to the production of finished goods…[to the]…horizontal expansion into new markets with the clear ambition of producing in Africa goods that are still largely imported today.”

This, in turn, would strengthen African production capacity, reduce dependence on imports and retain greater value within the continent.

African industrialisation

Jammal said the deal also reflects Afreximbank’s commitment to turning African industrial ambitions into reality “further contributing to the broader industrialisation and economic transformation of our continent.”

The facility is expected to the production of a wide range of finished steel products, including agricultural equipment and construction materials.

It will also boost Prometal SA’s capacity to meet growing demand for steel and metal products across the construction, infrastructure, industrial and agricultural sectors within Cameroon.

“By identifying and capacitating African industrial champions, like Prometal SA, the Bank is strengthening Africa’s domestic manufacturing capacity and creating domestic and regional value chains,” said Dr. George Elombi, Afreximbank’s president and chairman.

Growth plans

Prometal SA is a leading metallurgical and industrial group with a growing industrial footprint.

Over recent years, it has already implemented various investments aimed at developing local manufacturing capacity and replacing the import of products previously sourced from international markets.

The group is organized around two principal business lines: Prometal Acier and NOVIA Industries.

Prometal Acier is the group's core steel and metallurgical business and a key player in the regional steel industry with operations across seven industrial plants and an aggregate annual production capacity of approximately 360,000 metric tons of finished steel products.

NOVIA Industries, established in 2018, is the group's expansion into the agribusiness sector and has rapidly developed into one of the leading players in its market segment.

It has an estimated production capacity of 500 tons per day of edible oil and 160 tons per day of soap, positioning it as a significant producer of refined palm-oil products and related by-products.

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