In The Spotlight
The Mining Show Dubai is returning for its 16th edition from the 26-27 November at the Festival Arena, Dubai, to offer visitors the opportunity to capitalise on the development and change in mining across the Middle East, Africa and South Asia region
More than 3,000 attendees, 150 speakers, and 500+ VIPS will gather to take part in the leading mining and quarrying event in the region.
With the mining industry undergoing a period of transition – driven by forward-thinking engineers and new initiatives – the Mining Show acts as a meeting point for leading and diverse stakeholders in the mining ecosystem to gather. Here, visitors will be able to network with the full spectrum of the sector, from mining and quarrying companies, government bodies, financiers, distributors, tech innovators and beyond. The 2024 edition will seek to continue the proud history of the event which has established it as a premium event on the calendar, enabling attendees to capitalise on developments and get business done.
As ever, the core of this year’s Mining Show will be the multi-brand exhibition. With multiple country pavilions, more than 200 sponsors and exhibitors have signed up to the conference and will be ready to demonstrate their cutting-edge solutions and explore future collaborative opportunities. Orica, RPM Global, Haver & Boecker, Mincon, Manitou, Terravox, and Darda are but a few of the exciting exhibitors that are preparing to participate this year.
Previous attendees of the event will be sure to note a new addition to this year’s event in the form of the Outdoor Heavy Machinery Showcase. This will offer a specialised space to provide a platform for the latest advancements in heavy machinery technology from towering mining vehicles to precision drill rigs (and everything in between).
A packed agenda
When not traversing the extensive exhibition areas, visitors will also have the opportunity to learn from the brightest and most innovative minds in the industry in the accompanying conference. Across the two days, more than 150 industry leaders will participate in over 40 sessions (comprising everything from panel discussions to keynotes), striving to bring the mining industry into the modern day and prepare it for the future.
Various content themes will colour the proceedings, with key topics including: Digital Transformation & Technology; Alternatives in Exploration; Innovation in Finance; Sustainability & ESG; Quarrying; Smart Operational Excellence; Waste Management; Rethinking Supply Chains; Lifecycle Management & Operations; Workplace Culture & Safety Systems.
Organisers have also been keen to note the efforts put into enhancing networking opportunities and buyer engagement this year. To encourage the fluid exchange of ideas and proliferate the frequency of valuable meetings, The Mining Show network app is freely available. This will provide users access to all registered attendees and offer useful actions such as the ability to schedule virtual meetings year-round. Beyond this, there numerous opportunities to form business relationships beyond the exhibitor floor, with an evening networking party, a networking lounge and hosted VIP meetings all available.
The Mining Show will explore the latest trends shaping the future of the industry including exploration equipment & services, heavy equipment & machinery, automation & digitisation, sustainability and so much more. Learn more at: https://www.terrapinn.com/exhibition/mining-show
The International Energy Agency (IEA) has published its Renewables 2024 report which suggests that a massive growth of renewables to 2030 is set to match the entire power capacity of China, the EU, India, and the United States
More than 5,500GW of new renewable energy capacity is expected to be added between 2024 and 2030 – almost three times the increase between 2017 and 2023. China is set to account for almost 60% of this new capacity, making it home to nearly half of the world’s total renewable power capacity by 2030.
Solar leads the way
The IEA report indicates that solar pv alone will lead the renewables charge, accounting for 80% of the growth in global renewable capacity between now and 2030. Largely, this will arrive through the construction of new large solar plants as well as rooftop solar installations by companies and households.
The wind sector, however, stands ready to play its part. The IEA indicates that, despite ongoing challenges, wind is posed for a recovery, with the rate of expansion doubling between 2024 and 2030, compared with the period between 2017 and 2023.
Already, wind and solar pv are the cheapest options to add new electricity generation in almost every country.
Tripling renewables
While this represents a more impressive growth than some predicted, it is still not fully in line with the goal set at COP28 where nearly 200 governments sought to triple the world’s renewable capacity by 2030. The report, instead, forecasts that global capacity will reach 2.7 times its 2022 level by 2030.
However, despite this warning, the organisation indicates that the tripling renewable target is still possible if governments take near-term opportunities for action. This includes outlining bold plans in the next round of nationally determined contributions under the Paris Agreement due next year and bolstering international cooperation. Critically, the latter could help bring down high financing costs in emerging and developing economies that are restraining renewables’ growth in high-potential regions such as Africa.
“Renewables are moving faster than national governments can set targets for,” commented IEA executive director Fatih Birol. “This is mainly driven not just by efforts to lower emissions or boost energy security – it’s increasingly because renewables today offer the cheapest option to add new power plants in almost all countries around the world.
“This report shows that the growth of renewables, especially solar, will transform electricity systems across the globe this decade. Between now and 2030, the world is on course to add more than 5,500GW of renewable power capacity – roughly equal the current power capacity of China, the European Union, India and the United States combined. By 2030, we expect renewables to be meeting half of global electricity demand.”
Moving forward
While renewables are now on course to generate almost half of global electricity by 2030, the IEA emphasised that efforts need to be ramped up to securely integrate variable renewable sources into power systems.
The report also encouraged accelerating the adoption of sustainable biofuels, biogases, hydrogen and e-fuels. Since these fuels remain more expensive than their fossil counterparts, their share in global energy is set to remain below 6% in 2030.
Global solar manufacturing capacity is forecast to surpass 1,100GW by the end of 2024, a trend that is supporting a decline in module prices but also means that many manufacturers are facing financial losses.
According to the report, given the growing international focus on industrial competitiveness, solar pv manufacturing capacity is forecast to triple in both India and the United States by 2030, helping global diversification. However, producing solar panels in the United States costs three times as much as in China, and in India, it is twice as expensive. According to the report, policymakers should consider how to strike a balance between the additional costs and benefits of local manufacturing, weighing key priorities such as job creation and energy security.
African potential
Focusing on sub-Saharan Africa (SSA), the report notes that almost 90GW of new renewable capacity is forecast for the region between 2024 to 2030. This would increase SSA’s current installed capacity by more than 2.5 times and will largely be at the hands of South Africa which is expected to be responsible for 40% of the region’s new capacity.
The majority of new additions in SSA will be through solar pv and wind (accounting for 80%), although hydropower will play a key role in countries such as Ethiopia, Tanzania and Angola. In regards to solar, South Africa’s auction programme for utility-scale renewables will bolster installations, but additional markets are beginning to play a larger role. Nigeria, for example, can expect 7.5GW of new distributed solar pv as the country seeks to phase out fossil fuel subsidies. Most wind additions will also be driven by South Africa’s auction scheme. Outside of the country, the IEA suggests that policy uncertainty and the lack of a long-term plan for wind development means that developments based on several key projects are often backed by national utilities, aid agencies or development banks.
According to the combined national ambitions of sub-Saharan African countries, renewable capacity will more than triple to over 165GW by 2030. While main case additions fall short of this, the accelerated case exceeds it by considering the region’s untapped potential. At the national level, 15 countries are expected to meet or exceed their ambitions for 2030, while 22 will meet or exceed them only in the accelerated case.
It has only been a matter of days since the IEA released its Global Hydrogen Review 2024 assessing growing momentum in low-emissions hydrogen. Click here to learn more about the report.
Replacing the F- and Gz-series, the new generation L110H and L120H wheel loaders from Volvo Construction Equipment offer higher performance, lower costs, and a better operator experience
1: Up to 28% greater fuel efficiency
Featuring a new Volvo engine and electronic platform, an improved transmission with OptiShift technology, and optional automatic engine shutdown, the L110H and L120H reduce fuel consumption and component wear, helping customers to maximise their resources.
2: Up to 12% productivity boost
With a higher 5-6 t lifting capacity and optimised hydraulics, the new Volvo L110H and L120H wheel loaders are designed to improve output. The enhanced torque and high breakout force allow users to handle more material faster, cutting down cycle times and boosting overall productivity.
3: Up to 6% higher tipping loads
The L110H and L120H have increased tipping loads by up to 6%, perfect for heavier-duty tasks such as tipping into taller trucks. With an improved rimpull control system, customers will also enjoy smoother loading and better hill climbing performance.
4: Enhanced operator experience
The upgraded cabs on the L110H and L120H are not just ergonomic, they are smarter too. The standard electric servo controls offer greater customisation, and options like Comfort Drive Control make truck loading smoother. Plus, the Volvo Co-Pilot Load Assist Operator Coaching function helps operators reach peak performance with real-time feedback and guidance, improving operational efficiency. Other options include a Collision Mitigation System and new LED lighting packages.
5: Simplified maintenance and extended service life
Spend less time on upkeep and more time working. The new L110H and L120H offer grouped service points, an easy-to-access engine hood, and a hydraulic tilting cab for quick component access. In addition, with features like the Tire Pressure Monitoring System new lockout-tagout (LOTO) system, battery and fuel system protection, and extended service intervals, Volvo has designed these models for convenience and long-term reliability.
Visit the Volvo CE Africa website to learn more about the new L110H and L120H wheel loaders or contact your local Volvo dealer.
This article is authored by Volvo CE.
In the final webinar of its African Review-hosted 2023 campaign, Convergent Group explored its modern, eco-friendly concrete solutions for African projects
Such solutions – delivered to cut maintenance costs by eliminating hazardous silicate products – were showcased by company experts in the form of Jean-Claude Biard, SEO of Convergent Group SA; Mputu Schmidt, former CEO of Convergent Group SA and founder of Bondeko MB (exclusive distributor of Convergent Group in Africa); Carlos Garcia, technical and sales for ADI Group (Spanish distributor for Convergent Group); and Amritpal Singh Sura, external consultant for flooring treatments, former distributor of Convergent products in the Middle East.
“A number of projects we were doing in the Middle East required protection,” remarked Sura. “Longevity of protection requires a system which basically impregnates and becomes a densified surface as opposed to something which is topical and lifts off due to moisture migration. I found that being exposed to Convergent, it was important to stay focused on those systems in the Middle East. Jean-Claude, Mputu and I met several times in Dubai and there was emphasis on providing systems which were affordable and still ending up having a robust, lasting longevity of product. So you are not spending money all the time in order to maintain the finishes which you have already paid for.”
Over the course of the session, the participants guided the audience through the potential of cutting-edge lithium silicate technology for enhancing the protection of concrete surfaces, maximising cost-effectiveness and meeting sustainability targets.
In a comprehensive webinar hosted by African Review, a panel of professionals associated with Convergent Group explored new generation lithium silicate technology and why it is emerging as the optimum solution for concrete floor protection.
Robert Daniels, editor of African Review, was joined by Jean-Claude Biard, CEO of Convergent Group; Mputu Schmidt, former CEO of Convergent and founder of Bondeko MB, an exclusive distributor of Convergent; Hicham Sofyani, president of Texol; Carlos Garcia, technical and sales for ADI Group; and Marc Puig, commercial manager of Comace Import.
Each providing a unique angle, the panellists combined to provide a masterclass around concrete treatments and the increasing challenges around them, explaining to attendees how to choose the right formula for their requirements and touching on issues such as why lithium densifiers are better than sodium and potassium densifiers.
Throughout the session, those watching were treated to informative case studies showcasing how Convergent eco-friendly products are increasing abrasion resistance, raising ease of maintenance, and ensuring the highest quality gloss retention.
By the end of the webinar, a majority of attendees (many of which had not had much experience with Convergent) expressed their interest in using the company’s new generation lithium silicate technology with the rest indicating their desire to learn more about Convergent and its products. Watch the webinar, in full, to discover why viewers were convinced and learn more about advanced floor care solutions for your operations.
Presenting on an African Review-hosted webinar, Martin Provencher, global industry principal for mining, metals and materials at AVEVA, explored the digital transformation of mining operations and its impact on sustainability.
“Sustainability is becoming a key aspect for mining operations,” remarked Provencher. “If we look at the latest EY research on the top ten business risks and opportunities for mining and metals globally in 2023, ESG remains at the top. Of course, most companies have environmental goals or are expected to reach a net zero emission by 2050, which is a pretty aggressive target. Many of them are targeting 30% reduction by 2030; seven years from now. So there is a lot of action that needs to take place quickly to get there. It is possible to get there, but we need to make sure we are doing this correctly.”
Fast becoming a huge part of ESG initiatives is fleet electrification where particular progress is being made in underground mines. While some countries are certainly more advanced than others here, Provencher noted that 40% of total emissions from the mining industry come from diesel trucks, making EVs a very attractive low-hanging fruit for companies to pursue.
There are, however, a number of challenges associated with bringing in electric vehicles which remains a barrier for introduction. One of the predominant reasons, is the limited range of EVs against diesel counterparts. To mitigate this, Provencher continued, data management is key and ensuring a strong grasp of real-time information coming in will show operators when machinery needs to be charged, allowing them to plan effectively for maximum efficiency on site.
Indeed, this is but a small advantage that digitalisation can bring to the mining industry as it grapples to meet ESG goals while achieving production targets. By getting a better grip of their data and using it to empower tools such as artificial intelligence, advanced analytics and machine learning, companies can achieve tangible benefits such as reduce downtime, enhance worker safety, cut operating costs and, of course, ensure compliance with environmental regulations and targets.
Through the course of the webinar, Provencher outlined this in more detail and explored AVEVA’s suite of cutting-edge software solutions, specifically designed to help mining companies make progress on their digitalisation journey and empower their operations.
Watch the full webinar, completed with detailed case studies and an insightful Q&A session.
Convergent, in association with African Review, has held a detailed webinar exploring the usage and effectiveness of lithium silicates and densifiers over traditional methods of concrete surface management which often struggle to meet the increasing challenges posed by concrete surface management.
Convergent experts including Mputu Schmidt, CEO of Convergent; Carlos Garcia, product manager end-user solutions, construction chemicals, Spain and Portugal for the RD Group; Matteo Mozzarelli, CEO of concrete Solutions Italia; and Jean-Claude Biard, global senior executive for the Convergent Group, presented across the session.
Together, they delved into the latest cost-effective application methods for long lasting finishing of concrete that can help reduce maintenance costs and avoid unexpected repair action. In addition, they examined the advancements in technologies that can sustain increased abrasion resistant stains and ensure gloss retention to the highest quality.
As part of the webinar, the representatives explored case studies including a case in DRC where a medical centre had been constructed with a low-quality concrete floor. The customer was considering completely replacing the floor but instead, Convergent put forward a special treatment with its 244+ Pentra-Sil lithium hardener, densifier and sealer. With this solution, Convergent can increase the hardness of a surface by up to 40% and therefore saved the customer significant recuperation costs over a complete replacement. Convergent were happy to report that the solution was perfect for the facility and the customer was pleased to avoid the extra construction work that would have been required for a complete replacement.
Watch the full webinar, including more information about Convergent’s innovative solutions.
The International Renewable Energy Agency (IRENA) has released a new report assessing the feasibility of achieving the COP28 target of tripling renewables by 2030
In pursuit of meeting the collective goal of the Paris Agreement to keep global warming well below 2°C global leaders set a target of tripling renewables by 2030 at Cop28 in UAE. Nearly one year on from the conference, IRENA has assessed the progress made, stating that, despite an unprecedented acceleration in renewable energy deployment in 2023, the world will likely fall short of the target.
These findings were published in its newly released ‘Delivering on the UAE Consensus: tracking progress toward tripling renewable energy capacity and doubling energy efficiency by 2030’. Produced in partnership with COP28, Cop29, COP30 host Brazil and the Global Renewables Alliance today at Pre-COP, it provides accurate inputs to future COP decisions including COP29 in Baku.
The findings demonstrate that current national plans and targets are set to deliver only half of the required growth in renewable power by 2030. According to the organisation, annual investment in renewable capacity would have to triple, from a record high of US$570bn in 2023 to US$1.5 trillion every year between 2024 and 2030.
Global shortfalls
To meet the global goals, installed renewable capacity would have to grow from 3.9TW today to 11.2TW by 2030, requiring an additional 7.3 TW in less than six years. Yet, current national plans are projected to leave a global collective gap of 3.8TW by 2030, falling short of the goal by 34%. In addition, the annual energy intensity improvement rate must increase from 2% in 2022 to 4% on a yearly base up to 2030.
According to IRENA, these shortfalls highlight the inadequacy of existing policies and plans to limit global temperature rise to 1.5°C, underscoring the need for urgent policy interventions and massive investment. The third round of Nationally Determined Contributions (NDCs) under the Paris Agreement in 2025 must close the gap towards 2030.
“Today, we’re raising the alarm,” Francesco La Camera, IRENA’s director-general. “As the custodian for tracking progress of the UAE Consensus energy goals, we must flag significant gaps. The COP28 goals of tripling renewables and doubling energy efficiency are key enablers for our global efforts to keep 1.5°C within reach but we risk missing them. The next NDCs must mark a turning point and bring the world back on track.”
The progress report concludes that to deliver the UAE Consensus goals on the ground, significant advances will be required across the key enablers of the energy transition, namely: infrastructure and system operation, policy and regulation, supply chains, skills and capacities, finance, and international collaboration.
Emerging and developing economies continue to face financing gaps that undermine access to capital-intensive energy transition technologies. Renewable power investments in Africa declined by 47% between 2022 and 2023. Sub-Saharan Africa received 40 times less than the world average per capita transition-related investment.
Bobcat, a global manufacturer of compact equipment, has received the Red Dot Award: Design Concept winner for RogueX2, an all-electric, fully autonomous concept loader
The Red Dot Design Award is an annual international competition recognising excellence in design and business. Around 20,000 entries are submitted per year, making it one of the biggest design competitions in the world. The Design Concept category is bestowed upon new innovations that are precursors of tomorrow’s great products.
This year, that honour has gone to the RogueX2, a powerful, smart machine from Bobcat that produces zero emissions. Features include a lithium-ion battery, electric drive actuated lift, and tilt kinematics with no hydraulics. The most striking of the solution, however, is the lack of cab. The fully-autonomous concept loader has been designed to work without need of an operator and explores the idea of how work machines of the future can be designed and optimised for new technologies. In this way, it provides a glimpse at an entirely new work experience.
“We are honoured to win the world-renowned Red Dot Award for Design Concept in recognition of the groundbreaking design of the RogueX2,” remarked Joel Honeyman, vice president of global innovation at Doosan Bobcat. “This award is a testament to the dedication of the Bobcat teams who are passionate about pushing design limits and advancing innovation to redefine the machines of tomorrow.
Key to the machine’s development was the Bobcat Global Design Studio, which supported the project in collaboration with the Bobcat Global Innovation team. The solution is currently in the research and development stage, and is not commercially available.
“To build a smarter, more sustainable and connected future, we must ask the questions no one else has thought to ask before and invent new solutions that previously did not exist,” concluded Honeyman.
Judith Nemadzinga-Tshabalala, South Africa’s Deputy Minister of Mineral and Petroleum Resources, has called for a stronger health and safety culture within the country’s mining industry while speaking at the Mine Health and Safety Summit
“It is to be noted that the implementation of technology alone is not enough,” she remarked. “To achieve zero harm, we must also cultivate and sustain a strong health and safety culture throughout the mining sector. The Health and Safety Culture Transformation Framework developed by the Mine Health and Safety Council provides a solid foundation for this.
“However, the implementation of the framework across the industry remains uneven, and more work is needed to ensure that health and safety is elevated and recognised as a top priority and core value by all stakeholders and every mining operation, from the largest corporations to the smallest operators.”
As of 14 October, the country has recorded that year-on-year fatalities had declined from 38 to 34 deaths (11% in fatalities). Despite the improvement, the Deputy Minister said that even a single death was “one too many” and called for the sector to continue its efforts towards zero harm.
"It is about leadership, accountability and a deep, shared commitment to the well-being of every worker. It requires a shift in mindset, where the health and safety of mineworkers is not seen as an obstacle to productivity, but as a critical component of operational success,” Nemadzinga-Tshabalala continued.
“Many of these incidents are repeats and they can be prevented. Fall of ground accidents remain one of the largest accident categories, and the predominant cause of fatalities followed by general accident and transportation categories, respectively.
“This is regrettable, as it is expected that all mines should have appropriate measures and expertise to enhance the health and safety of mineworkers. So, we urge you to go back to the drawing board and constantly focus on safety performance.”
Constant improvement
The Deputy Minister listed the steps being actioned to reduce incidents within the country’s mining sector including engaging union leaderships; stopping unsafe mines; enforcing and monitoring of health and safety at sites; ensuring safe mining practices are being adopted; and ensuring that all mines collaborate with inspectors and organised labour to have health and safety campaigns to raise awareness.
“South Africa’s mining industry is globally recognised, and our safety record is comparable to some of the leading mining nations,” concluded Nemadzinga-Tshabalala. “However, as demonstrated by countries like Australia and Canada, there are higher benchmarks we can aspire to. We must, therefore, not allow ourselves to become complacent and accept that while the progress we have made is commendable there remains an opportunity for improvement.”
Jaguar Land Rover has announced new appointments to its executive leadership team as it aims to undergo the next phase of its development and transformation
The company has appointed Steve Marsh as the new executive director, vehicles programme. Reporting under the CEO Adrian Mardell, Marsh carries on from his previous position as director of global manufacturing operations at JLR, and brings a wealth of experience in the automotive industry having previously worked in the sector for 36 years.
“The transformation of JLR to a global modern luxury automotive manufacturer is well underway and delivering our next generation vehicles to the highest standard – across all touch points – is critical to our ongoing success,” remarked Marsh. “I am incredibly grateful for the opportunity to lead JLR’s global Vehicle Programmes teams at this once-in-a-generation moment of powertrain and industrial change.”
Elsewhere, Swarna Ramanathan has been appointed chief strategy officer and will also report to Mardell. Ramanthan has been tasked with leading JLR’s strategy creation, innovation and strategic foresights, alliances & collaborations, and product & customer experience strategy teams. Similarly, Ramanathan has considerable experience and has 20 years’ growth strategy development and implementation experience, working across the automotive, consumer and energy sectors. With Ramanathan’s appointment, Andrea Debbane will continue in her role as chief sustainability officer, relinquishing her interim responsibilities for strategy, and reporting to JLR CEO, Adrian Mardell.
“As an experienced and passionate advocate for the automotive, consumer and energy sectors, and a long-term follower of JLR, I am thrilled to be appointed Chief Strategy Officer, JLR, at an important moment in JLR’s transformation to be a global modern luxury automotive leader,” Swarna Ramanathan. “I look forward to playing a leading role in the evolution of the business’s Reimagine strategy for continued success.”
A final noteworthy appointment is that of John Beswick to the role of chief transformation and performance officer. Beswick joins JLR from Great Ormand Street Hospital having previously spent two decades at BT Group in transformational change and finance leadership roles.
“I am delighted to be joining JLR as chief transformation and performance officer,” said Beswick. “Working alongside other members of the executive leadership team and colleagues across JLR, my priority will be to lead the implementation of JLR’s strategy throughout the organisation, through seamless team alignment and collaboration.”
Mardell commented, “The transformation of the automotive sector is the greatest change in our industry in a century. Ensuring we have the right leaders, with the qualities and experience to deliver our modern luxury vision in the near-, medium- and long-term will ensure JLR’s future health and prosperity. I offer my warmest congratulations to Steve, Swarna and John on their appointments.”
British International Investment, a development finance institution and impact investor, has sought to boost private sector growth in high-impact sectors through the launch of a US$25mn risk sharing facility with Ecobank Sierra Leone
Currently, SMEs provide employment for about 70% of Sierra Leone’s population. Despite representing a crucial component of the country’s economy, BII has noted that these businesses still struggle to gain access to capital due to a number of factors such as limited availability of suitable financial products, high collateral requirements, high interest rates and the prevalence of short-term loans.
The risk sharing facility, which includes a comprehensive technical assistance programme, will therefore support Ecobank to increase lending to ambitious businesses in a frontier market where economic growth is hampered by lack of capital and investment.
“The signing of this agreement with Ecobank Sierra Leone underscores BII’s pioneering role to lead investments in countries that are often overlooked by investors,” remarked Samir Abhyankar, MD and head of financial services, BII. “The facility will be a game-changer for Sierra Leone, providing much-needed capital for ambitious local businesses to accelerate their growth, spur job creation and deepen impact. It’s an example of BII innovating and working with partners to help address pressing challenges where it matters the most.”
Growing Sierra Leone business
Building on US$50mn trade finance facility between the two entities in 2021 (which helped the bank to deepen its reach across Africa), the new facility will support local currency lending. According to BII, it will demonstrate its ability to act as the first mover in frontier markets and drive impact through risk navigation strategies.
Sebastian Ashong-Katai, managing director, Ecobank Sierra Leone, remarked, “We are delighted to have secured the support of British International Investment in boosting Ecobank’s vital lending capacity for Sierra Leone businesses who are the engine room for our country’s growth, economic development and employment. This further strengthens our intent to be the bank of choice for Sierra Leone’s businesses and leverages our delivery of world-class products, services, solutions, borderless digital pan-African platform and business skills training which are designed to support them in further growing their businesses.”
The investment will help Ecobank Sierra Leone to grow its loan book by increasing credit limits and extend lending tenors to up to five years. This is expected to boost business growth, create more jobs and increase private sector contribution to Sierra Leone’s economy.
Ampersand, a leading electric vehicle (EV) energy tech company, has opened a large manufacturing facility in Nairobi, enabling it to meet the increasing demand for electric motorcycles in the country
The new 21,000 sq m factor is three times larger than the previous site and boasts an additional 100 staff members. It will allow the company to assemble up to 60 electric motorcycles each day, tripling its production capacity in the country.
“Our new Nairobi factory is a major step forward in both scale and impact,” remarked Josh Whale, CEO of Ampersand. “It reflects our dedication to providing sustainable, affordable EV solutions that directly benefit riders and the environment. With this expanded capacity, we’re in a stronger position to support the electrification of Africa’s commercial motorcycle transport and to scale Ampersand’s proven business model.”
A sustainable transport solution
The new expansion swiftly follows the company’s announcement that it had raised total equity of US$21.5mn (over the course of a year) in a demonstration of the appetite for e-mobility solutions in the region.
Each sustainable e-motorcycle from the company avoids at least 2 mt of CO2e per bike per year and, on average, reportedly increases customer income by 45% annually. According to Ampersand, the enhanced Kenyan operation – in combination with its successful model in Rwanda – is laying a strong foundation for its continued expansion in East Africa and for achieving its goal of deploying five million electric motorcycles by 2033.