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AFC leads strategic investors into Dangote Petroleum Refinery's US$2.5bn private placement (Image source: AFC, Dangote)

Energy

Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) has attracted $2.5bn of fresh institutional investment at a time when it is preparing to more than double its capacity — signalling strong investor confidence in the project and potentially strengthening Nigeria’s ability to supply its own fuel while becoming a major exporter of refined products

Expansion targets energy security

The investment signalled “investor confidence” in the company and its expansion project, according to David Bird, DPRP’s CEO and managing director.

The approximately US$20 billion integrated complex is integral to Nigeria’s economy, and produces petrol, diesel, aviation fuel, LPG, naphtha and other refined products for local, African and international markets.

Its adjoining petrochemical plant produces polypropylene, which is used in packaging, textiles, automotive components, medical products and other manufactured goods.

Dangote and DPRP’s chairman Aliko Dangote described the transaction as “a strategic step to deepen and further institutionalise” the enterprise’s shareholder base, while raising capital to complement internal cash flows and external debt, as DPRP advances its expansion agenda.

"This further demonstrates our profound commitment to developing domestic refining and petrochemical capacity — reducing Africa's reliance on imported refined products and supporting the continent's energy security.”

The Nigerian company has secured US$2.5bn in new equity funding, led by Africa Finance Corporation (AFC), as the company prepares to more than double refining capacity by 2028.

The private placement was 3.7 times oversubscribed, attracting international and African institutional investors, sovereign-related vehicles, development finance institutions and strategic partners.

The Lagos-based refinery currently has a nameplate capacity of 650,000 barrels per day (bpd), but Dangote plans to increase this to 1.4 million bpd by 2028 under its Vision 2030 strategy.

AFC strengthens long-term Dangote partnership

AFC’s investment builds on its long-standing financial involvement with the project.

It previously acted as Co-Coordinating Bank on a US$3bn syndicated loan for the refinery and provided support during commissioning.

AFC has also recently received full repayment of its US$300mn senior term loan to Dangote Industries Limited, which helped advance the refinery from concept to development.

Samaila Zubairu, AFC's president and CEO, said the latest investment reflected the organisation's continued confidence in the refinery as one of Nigeria’s most significant industrial assets.

“This is what long-term partnership looks like: capital that remains engaged as a project develops, becomes operational and matures into a stable, cash-generating industrial platform. DPRP's success is a powerful demonstration of the scale of ambition, execution and value creation that is possible in Africa.”

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XCMG accelerates global equipment deliveries for infrastructure and mining projects (Image source: XCMG)

Construction

XCMG has accelerated deliveries of road and construction machinery and equipment in Angola and Mozambique — reflecting the expanding role of Chinese equipment manufacturers in Africa’s infrastructure and mining sectors

The company announced in a statement that it is also supporting road construction, lifting, aerial access and green mining projects in territories in Southeast Asia and South America, as well as Mozambique.

Deliveries include more than 100 units of integrated road construction equipment in Angola, nearly 300 crawler cranes across Southeast Asia and 80 aerial work platforms in South America.

“In Mozambique, XCMG delivered an integrated road construction solution and deployed a fully electric mining excavator, highlighting its broad portfolio and localised service capabilities,” the statement read.

Its latest deliveries highlight not only commercial growth, but also the broader China–Africa partnership in infrastructure development, while the introduction of electric machinery points to a growing focus on more efficient and lower-emission technologies.

Angola: road construction projects

The announcement is particularly significant for XCMG in Angola given its scale.

“Representing Angola’s largest single procurement order for conventional construction machinery in a decade, the delivery included crushing and screening, earthmoving and road construction equipment, covering the process from aggregate production to road paving,” XCMG noted.

It also marked the first batch introduction of mobile and stationary crushing plants to Angola, it added.

“The equipment will serve key road projects, supporting infrastructure development and China-Africa cooperation.”

The statement reported that XCMG managed manufacturing, quality control, logistics and after-sales support, ensuring on-time delivery for the Angolan orders.

Mozambique: infrastructure and mining

In Mozambique, its integrated solutions will support various infrastructure work and green mining developments.

“In Mozambique, XCMG introduced an integrated road construction solution and deployed a fully electric mining excavator to support infrastructure upgrades and greener mining operations,” the statement read.

“In Beira, a key transport hub facing ageing pavements, equipment shortages and limited asphalt capacity, XCMG delivered a solution covering asphalt production, paving, compaction and rehabilitation,” the company said.

“The equipment, including asphalt mixing plants, pavers and cold recyclers, supports new road construction, reconstruction and maintenance, improving efficiency and road quality.”

It includes the deployment of the XE1350E, which XCMG said marked Mozambique's first introduction of an electric mining excavator.

The zero-emission, low-noise machine features intelligent real-time fault monitoring and combines high productivity with low energy consumption.

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Sandvik equips Karowe for long-term underground growth. (Image source: Sandvik)

Mining

Sandvik has secured orders from Lucara Botswana Pty Ltd, a subsidiary of Lucara Diamond Corp., for a 15-unit underground mining equipment fleet for the Karowe diamond mine in Botswana

The package includes underground drills and loaders, as well as parts, rock tools, aftermarket services and digital solutions. Financing for the investment has been arranged through Sandvik Financial Services (SFS), with an export credit guarantee from the Swedish Export Credit Agency (EKN).

The equipment package comprises five Sandvik DD321 development drills, four Toro LH517i loaders, two Toro LH621i loaders, two Sandvik DD422i development drills, one Sandvik DS422i cable bolter and one Sandvik DU311 longhole drill. The order was booked during the second quarter of 2026, with deliveries already under way and scheduled to continue through the fourth quarter.

The fleet will support Lucara’s continued development of the Karowe underground mine as the operation progresses through its transition from open-pit mining. The Karowe Underground Project is designed to extend the mine’s operating life beyond 2038.

Karowe is recognised as one of the world’s highest-value diamond mines and has gained a reputation for producing large and exceptional stones. Earlier this year, the mine announced the recovery of its tenth diamond weighing more than 1,000 carats, further highlighting the significance of the operation.

“As we continue developing the Karowe underground mine, we were looking for a partner that could support us throughout the project lifecycle,” said Benjamin Wang, director corporate finance at Lucara. “Sandvik's combination of leading underground equipment, aftermarket support and financing capability made it a compelling solution for our operation. This investment supports our strategy of building a safe and productive underground mine.”

Beyond the initial equipment supply, Sandvik will provide ongoing aftermarket support intended to enhance fleet availability and productivity throughout the equipment lifecycle. The support package also incorporates rock tools and digital technologies, including My Sandvik and Remote Monitoring Service.

“This order demonstrates the breadth of our offering and our ability to support customers in Botswana with an integrated solution that extends beyond the equipment,” stated Floors Foord, Territory manager for Botswana at Sandvik Mining. “By bringing together expertise from across Sandvik, we can support Lucara throughout the equipment lifecycle while contributing to the long-term success of its underground operation.”

The equipment investment is being supported through an SFS financing structure backed by an EKN export credit guarantee. The arrangement combines Sandvik’s equipment and aftermarket capabilities with its financial services offering, providing support for Lucara’s continued investment in the underground development of Karowe.

“By combining Sandvik’s mining expertise with our financial services capabilities and EKN’s export credit support, we were able to structure a competitive financing solution around Lucara’s investment requirements,” said Tony Clarke, SFS EMEA manager at Sandvik. “It demonstrates how financing can complement our equipment and aftermarket offering and help customers advance significant long-term mining investments.”

HMM launches new East Africa shipping service. (Image source: HMM)

Logistics

HMM is expanding its African shipping network with the introduction of a new Gulf-India-East Africa (GIA) container service, which is scheduled to begin operations in September

The new route will link India with key East African markets and represents HMM’s second feeder network serving Africa under its Hub & Spoke strategy. The service will connect East Africa with Nhava Sheva and Mundra, which act as regional hubs for cargo moving from India and Central Asia.

The GIA service will operate on the following port rotation:

Nhava Sheva, India – Mundra, India – Dar es Salaam, Tanzania – Mombasa, Kenya – Nhava Sheva, India

The first sailing is scheduled to leave Nhava Sheva during the fourth week of September. Five container vessels, each with a capacity of 2,800 TEU, will be deployed on the route.

HMM will operate the service in partnership with COSCO SHIPPING, PIL and INTERASIA LINES. The carriers also plan to extend the service rotation into the Gulf region.

The launch will broaden HMM’s African network alongside its existing West Africa MA2 service. With the addition of Kenya and Tanzania, the company will strengthen its connections to East African markets and their surrounding inland logistics networks.

Dar es Salaam and Mombasa serve as important gateways for East Africa, where investment in port infrastructure and inland logistics is continuing. HMM expects the new service to provide shippers with greater transport convenience and additional shipping options between India and the region.

The GIA service also supports HMM’s wider efforts to expand its presence across African markets and develop its service portfolio in regions with growing trade and logistics requirements.

An HMM official said, “With the introduction of GIA service, HMM anticipates providing our customers with more efficient and reliable sea transportation. We will also continue to expand our presence in these regions and provide an enhanced service portfolio in the future.”

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.”

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Arridex Launches West Africa’s first additive manufacturing hub. (Image source: Adobe Stock)

Manufacturing

Arridex has officially commissioned its Omnifactory in Lagos, marking the launch of West Africa’s first multi-technology industrial additive manufacturing facility

The commissioning ceremony was led by Babajide Sanwo-Olu, governor of Lagos state, and brought together senior government representatives, industry stakeholders, members of the diplomatic community and investment delegates participating in the Invest Lagos 3.0 forum.

The Invest Lagos delegation featured participants from the forum’s panel discussion on The Future of Technology and Innovation, where Kayode Adeleke, group CEO of Arridex, highlighted the importance of technology and innovation in advancing Africa’s industrialisation. His insights were shaped by Arridex’s operational experience across sectors including oil and gas, maritime, aerospace, defence, construction and manufacturing.

The Arridex Omnifactory brings together several additive manufacturing technologies within one facility, including Laser Powder Bed Fusion (L-PBF), Cold Spray, Fused Filament Fabrication (FFF) and Selective Laser Sintering (SLS). The facility enables the production of industrial components, spare parts and enhanced part designs for critical industries, while its large-format manufacturing capabilities support the creation of full-scale marine components and other large industrial structures.

The commissioning of the Omnifactory represents the transformation of two decades of accumulated expertise into a dedicated industrial manufacturing platform. Arridex commenced operations in 2005 as an asset integrity company serving Nigeria’s oil and gas industry before expanding its capabilities into maritime, defence, construction, technology and aerospace sectors. The company has achieved zero lost-time incidents across more than seven million operational man hours.

The next chapter of global manufacturing can be written from Lagos

For Nigeria and West Africa, the Arridex Omnifactory addresses long-standing challenges associated with dependence on imported industrial components. Companies operating ageing infrastructure have often faced extended procurement timelines, complex international supply chains and the growing challenge of sourcing legacy parts from manufacturers that may no longer exist. Through the Omnifactory, Arridex will enable these components to be manufactured on demand within Lagos.

Arridex has received Pioneer Status in additive manufacturing from the Nigerian Investment Promotion Commission (NIPC). The company is also the first organisation qualified by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for additive manufacturing deployment in the oil and gas sector. In addition, its joint venture partnership with the Defence Industries Corporation of Nigeria (DICON) supports the local production of military-grade additive manufactured components.

Further strengthening its position in the global additive manufacturing ecosystem, Arridex is the first African member of the Additive Manufacturer Green Trade Association (AMGTA). The company is also a Designated Strategic Partner of the Commonwealth Enterprise and Investment Council (CWEIC), with Kayode Adeleke serving on the CWEIC Global Advisory Council.

"Today, I opened West Africa's first multi-technology industrial additive manufacturing facility in Lagos. By producing industrial components and spare parts here in Lagos, Arridex is helping to reduce our dependence on imports, strengthening critical industries and supporting economic growth," commented Sanwo-Olu.

"I commend the Arridex team for their vision and commitment to building solutions that serve not only Nigeria but the wider African continent. Lagos will continue to support investments that create opportunities, grow local capacity and position our state as a hub for innovation and industry."

“We did not set out to build the biggest company, but a resilient one. For over two decades, we have chosen the harder path, and that is to make in Africa what others import, to meet global standards without exception, and to put purpose before profit. The Arridex Omnifactory is where that conviction becomes infrastructure. The name on the door is new, but the work behind it is not. We are not stopping here. By the first quarter of 2027, we will commission the Arridex Mega Omnifactory, which will stand among the largest single-site industrial additive manufacturing facilities in the world. The next chapter of global manufacturing can be written from Lagos. We are building it.” concluded Adeleke.