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Dangote is seeking to bolster Nigeria’s fuel supplies (Image source: Adobe Stock)

Energy

The proposed expansion of Nigeria’s Dangote oil refinery marks a significant step in the West African country’s push to build up domestic fuel production and reshape its role in the continent’s oil industry

An initial public offering (IPO) in the refinery has attracted “enormous” support from investors, according to the group’s founder, Aliko Dangote.

The US$1.6bn IPO is now open in a bid to raise additional funding to double capacity.The Lagos refinery is a key installation to ease energy shortages in the West African country, one of the continent’s biggest oil and gas producers.

The funds will partially finance a massive capacity expansion to 1.4 million bpd by 2029.

The IPO comes as Nigeria seeks to strengthen its domestic energy supply and reduce reliance on imported refined petroleum products, while also positioning itself as a major refining hub for West Africa.

The scale of the expansion also reflects the growing ambitions of Africa’s private sector to finance large, strategically important infrastructure projects through local capital markets.

Dangote told reporters in Kenya, where the group plans a separate refinery, that the outlook for the IPO is encouraging.

“Demand is there, enormous demand,” he was quoted as saying by Reuters.“In fact, I didn’t know the depth of our capital markets until now, really, because we have never tested it,” he added.

The IPO, Africa’s largest to date, is scheduled to close 13 October, 2026.

The Nigerian refinery, located in Lekki, Lagos, commenced operations in 2024, and is the largest single-train oil refinery in the world.

In Kenya, Dangote is hoping to replicate its refining ambitions in East Africa with a planned 700,000 bpd refinery in Lamu, although the project has faced local challenges.

Telehandlers are among the Wacker Neuson compact machines supplied by newly appointed dealer Welgro in Mpumalanga (Image source: Wacker Neuson)

Construction

Wacker Neuson South Africa has expanded its dealer network and reinforced its presence in Mpumalanga with the appointment of Welgro Engineering and Mining Supplies

“Welgro’s established sales network, fully equipped workshop and service infrastructure, together with its proven track record across the mining, engineering, construction and agricultural sectors, made the partnership the natural choice,” said Eric Berrington, Wacker Neuson’s regional manager for Gauteng, Limpopo, and Mpumalanga.

Welgro Engineering and Mining Supplies is a provider of industrial and construction equipment solutions that has served the region for 40 years.

“The dealership also represents several respected international brands that demand a high standard of technical expertise and aftersales support, giving us further confidence in Welgro’s ability to successfully support customers over the long term,” added Berrington.

He said Welgro’s alignment with Wacker Neuson’s core values, together with recommendations from multiple industry contacts, prompted Wacker Neuson to initiate discussions.

“Welgro Engineering and Mining Supplies has built its business on long-term relationships, practical product knowledge and dependable service, with a steadfast focus on first understanding each customer’s operation before recommending the right solution to support sustainable operations,” said Kyle Handley, managing director at Welgro.

“Because every site and operation faces unique pressures, from production deadlines to safety requirements and downtime challenges, we adopt a hands-on, consultative approach, supporting customers with a wide range of industrial and construction solutions, backed by experienced sales and technical staff and a well-equipped workshop.

”Playing a vital role in the national economy, Mpumalanga is central to Wacker Neuson’s dealer expansion strategy, with the company’s approach anchored around three key hubs – Mbombela, eMalahleni and Secunda – and aligned to the industries driving growth across the province.

Handley outlined key reasons why Welgro was eager to partner with Wacker Neuson, including product quality and reliability, as well as strong reputation in construction, plant hire and infrastructure development.

He said customers want high-performing, dependable equipment that helps optimise their operations, and highlighted Wacker Neuson’s machines as well-engineered, robust and built for tough working environments.

“The machines are practical, intuitive and productivity-driven – qualities that resonate with operators.”

Under the dealership agreement, Welgro will supply Wacker Neuson’s full range of compact machines, including mini excavators, telehandlers and wheel loaders; construction equipment, including pumps and lighting towers; compaction equipment, including rammers and plate compactors; concrete technology, including external vibrators; and other specialised worksite solutions.

The range is positioned to support the diverse requirements of customers across the construction, agricultural, mining and related industries.

“Our immediate focus is on building a strong, reliable offering around Wacker Neuson’s products already in demand locally, expanding the range over time in line with customers’ changing requirements,” said Handley.

“Compact machines and equipment are especially well-suited to the market, with the capability to perform efficiently in confined spaces – a quality that is highly valued across the sectors. We also expect to see strong demand for lighting towers, particularly in mining, where reliable site illumination is critical for safety and productivity.”

He said there are also “compelling growth prospects” for electric and zero-emission equipment.

“We are ready to introduce more of Wacker Neuson’s electric product ranges to support customers with sustainable, efficient, environmentally conscious and forward-looking solutions.” 

ESB adds its first Liebherr LICCON3 crane. (Image source: Liebherr)

Mining

ESB Kranverleih Transport u. Hebetechnik GmbH is continuing to modernise its crane fleet with the addition of a new Liebherr LTM 1055-3.3 equipped with the LICCON3 control system

The 55-tonne mobile crane is the first LICCON3 model in the Biberach-based company's fleet and has been selected to meet the demands of confined construction sites and regional lifting operations.

At the same time, ESB is preparing for its next phase of development with a generational change in its management team. Larissa Maurer, representing the third generation of the family-run business, joined the management team on 1 January 2026.

First LICCON3 crane joins ESB fleet

ESB ordered the three-axle LTM 1055-3.3 at the Bauma trade fair. Its compact dimensions, manoeuvrability and lifting performance made the crane particularly suitable for the company's operating area around Biberach and within a radius of approximately 40 kilometres.

“ In our operating area around Biberach and within a radius of around 40 kilometres, confined construction sites and limited space are daily challenges,” explains Managing Director Karl Engeser Jr. “The three-axle crane is highly manoeuvrable, quick to get to the job site as a ‘taxi crane’ and, thanks to flexible driving modes, offers maximum operational freedom – with or without a permit under Section 29, the road permits required for certain transport configurations in Germany.”

The LTM 1055-3.3 combines a compact three-axle configuration with a boom of approximately 40 metres. This enables the crane to operate effectively on urban construction sites, including applications where access is restricted and lifting operations need to take place around existing structures and obstacles.

Liebherr fleet supports regional lifting operations

The latest acquisition forms part of ESB's ongoing investment in modern lifting equipment. The company currently operates 11 Liebherr mobile cranes with lifting capacities ranging from 35 to 230 tonnes.

“We are regularly investing in our fleet so that we can offer our customers modern, high-performance technology at all times,” says Engeser. “This is the only way we can remain flexible and reliable in meeting a wide variety of requirements.”

ESB also highlighted its relationship with Liebherr and the availability of local service support as factors behind the investment.

“We benefit from the close proximity of Liebherr in Ehingen, the service works well, and we’re seeing a high level of satisfaction with the products in the region.”

The LTM 1055-3.3 entered service at the end of May and has since been used for a range of lifting operations. According to ESB, the new crane has already demonstrated its suitability for narrow access routes and uneven terrain.

“Our new 3-axle crane has been very well received by customers and stands out as a new model with modern design. It has also managed to get through easily so far, even on narrow access routes and uneven terrain,” reports Engeser.

The new 55-tonne crane replaces an older machine as part of ESB's fleet modernisation programme. The company is also planning a further fleet upgrade in the second half of the year, when an existing 130-tonne crane is scheduled to be replaced by a 150-tonne model.

“We will then replace our existing 130-tonne crane with a 150-tonne model and, at the same time, expand our fleet’s capacity range,” says Engesser.

Third generation joins ESB management

Fleet modernisation is being accompanied by a generational transition within the family-owned business. Company founder Karl Engeser Sr. has stepped back from day-to-day operations while continuing to support ESB with his experience and expertise.

Karl Engeser Jr. is responsible for the commercial side of the business, while Larissa Maurer joined the management team on 1 January 2026.

“Carrying on our family-run company into its third generation and helping to shape its future is something I am particularly proud of,” she says happily.

Founded in 1981, ESB Kranverleih Transport u. Hebetechnik GmbH currently employs 11 crane operators in addition to its management team. The company says its lean organisational structure and stable business situation provide a foundation for continued development.

“We have a lean organisational structure and are benefiting from a stable business situation,” reports Larissa Maurer, adding: “We are very satisfied and look to the future with confidence.”

Wabtec signs locomotives support deal (Image source: Wabtec)

Logistics

Wabtec Corporation has signed a long-term services agreement worth over $700mn with La Compagnie du TransGuinéen (CTG) to support its fleet of new Evolution Series locomotives

The locomotives serve the giant Simandou mining and infrastructure project in the Republic of Guinea.

The agreement is the US-based company’s largest services contract in Africa — combined with its original order to supply locomotives in 2024, the Simandou project has now generated US$1.2bn in total value for the group.

“Wabtec is proud to support the Simandou project, which we believe represents a transformative opportunity for Guinea. We are committed to ensuring the reliable operation of the railway to help unlock its full economic potential,” said Sameer Gaur, president, global freight services for Wabtec.

“This agreement is designed to help maximise locomotive availability, efficiency and reliability, while supporting the development of local capabilities through workforce development, skills training, and partnerships with Guinean businesses.”

CTG’s railway extends over 600 kilometres and connects the Simandou mine to the Port of Morebaya on the Atlantic coast.It forms a critical transportation corridor for one of the world's largest untapped reserves of high-grade iron ore, as well as passengers and non-mining goods.

The Simandou project represents one of the most significant infrastructure investments in Guinea's history and is intended to support long-term economic growth and development throughout the country.

Contract terms

In a statement, Wabtec noted that the multi-year customised services agreement is designed to support CTG’s “unique operational requirements” and long-term fleet strategy.

The scope of work includes scheduled and unscheduled maintenance, parts and components overhauls, parts management, logistics support, training, advanced remote diagnostics and a strong localisation component.

The contract will support CTG’s fleet of Wabtec ES43AC locomotives, powered by 4,500-horsepower Evolution Series engines.

Built for demanding operating environments, the locomotives deliver high fuel efficiency and reliability in extreme temperatures, including the challenging conditions of eastern Guinea.

“The TransGuinean Railway is one of Africa's most significant rail infrastructure projects, and operating it successfully requires world-class technology and support, as well as a clear commitment to localisation and technology transfer,” said Mamoudou Nagnalen Barry, chairman of the TransGuinéen Company.

Bouna Sylla, Guinea’s Minister of Mines and Geology of Guinea, said the project also reflected the country’s keenness to work more closely with US firms.

“This agreement is intended to support the long-term performance of the locomotive fleet as we work to build a railway designed to contribute to economic growth and development across Guinea,” said Sylla.

“It also highlights Guinea’s vision to build win-win partnerships with American companies, in the country’s ambition to grasp the best technologies from all over the world.”

The Simandou iron ore project itself is a joint venture between global mining giant Rio Tinto and several major Chinese state-backed industrial groups, while the locomotives are being produced at Wabtec’s Marhowra plant in India.

Read more:

MIGA backs Angola's Lobito railway corridor modernisation

Trans-Gabon railway funding boost

AFC announces financial close on Lobito Corridor railway project

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:

Supply chain boost for African businesses

AFC green bond to boost Ivorian solar sector

New trade finance facility for Angolan firms

Wang Jiazhong, senior vice president of Yadea Technology Group, pictured with Spiro’s CEO Anant Badjatya (Image source: Spiro)

Manufacturing

African mobility group Spiro has signed a partnership with Yadea to scale accessible and sustainable electric transport across the continent

The partnership comes as Spiro accelerates its next phase of growth and expansion across Africa following its latest US$270mn funding round, which included investment from NewTrails Capital, a Chinese fund.

Yadea, founded in China, is the world's leading manufacturer of electric two-wheelers, with more than 100 million vehicles sold worldwide in over 100 countries and 10 exclusive production facilities globally.

Under the agreement, Yadea will supply electric two-wheelers and related EV products tailored to Spiro’s expanding regional markets, while Spiro will integrate the vehicles into its proprietary battery-swapping and energy infrastructure.

The companies will also co-develop customised two-wheeler platforms engineered specifically for local road conditions and commercial utility across Africa.

“Africa’s shift to electric mobility is accelerating and this partnership helps us meet that demand at scale,” said Anant Badjatya, CEO of Spiro.

“By bringing together Yadea’s manufacturing strength with Spiro’s electric mobility ecosystem and operating experience across Africa, we are compressing the timeline to clean transport — helping thousands more riders switch to affordable EVs faster and multiplying our climate impact across the continent.”

Spiro already boasts an operational network and battery-swapping ecosystem across seven countries.

Together, the companies aim to build a scalable, commercially sustainable EV framework serving millions of commercial fleet operators, delivery services, logistics providers, and daily commuters in Africa’s fastest-growing mobility markets.

“Our strategic partnership with Yadea…opens fantastic opportunities to jointly pioneer the next era of electric mobility in emerging markets”, said Gagan Gupta, Spiro’s founder.

Wang Jiazhong, senior vice president of Yadea Technology Group, said Africa represents a huge frontier for zero-emission transport.

“Our mission to reduce carbon emissions has reached a powerful milestone through this partnership with Spiro. Together, we are combining global innovation with local infrastructure to deliver scalable and sustainable mobility solutions that serve millions of riders and transform Africa’s urban transit.”

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