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In The Spotlight

Eritrea to revive Hirgigo power plant

Energy

Eritrea has issued a tender for the supply of spare parts and equipment for the rehabilitation of gensets and associated substations at its Hirgigo thermal power plant

The country’s Ministry of Energy and Mines, which is behind the tender, has requested bids to be received by 9th September 2025, according to documents published on the African Development Bank (AfDB) website.

The Hirgigo plant, which dates back to the late nineties, has long been one of Eritrea’s most important energy assets, although it was once extensively damaged as a result of conflict in the region around that time.

The power station is located 10 km from the city of Massawa on the Red Sea coast.

The Ministry appears to be utilising funds from the African Development Fund (ADF) — the AfDB’s concessional finance arm — initially allocated for the establishment of the 30 MW Dekemhare Solar PV project.

The Dekemhare project, part of the AfDB's commitment to clean energy on the continent, comprises a solar power plant with a battery energy storage system (BESS), and is currently being built by Chinese contractors, with delivery anticipated as early as the end of the year.

The Eritrean government received financing from ADF toward the cost of Dekemhare “and intends to apply part of the proceeds toward payments under the contract for the procurement of equipment for rehabilitation of substations” the Ministry noted in the documents on the AfDB website.

“The Ministry of Energy and Mines (MoEM) now invites sealed bids from eligible bidders [for the] supply of spare parts for [the] rehabilitation of genset 1 and 2 of Hirgigo power plant and of substations,” it noted.

The AfDB originally approved US$50mn in funding via ADF for the Dekemhare solar project in 2023.

The solar project also includes a 33/66 kV substation and a 66 kV transmission line connected to the existing link between East Asmara and Dekemhare, about 1km from the project site.

Dekemhare itself is located about 40km southeast of the Eritrean capital, Asmara.

At the time of the announcement in 2023, the AfDB said it is expected to contribute to increasing the country’s generation capacity and grid energy to 185 MW and 365 gigawatt-hours/year, respectively.

The bank said the project aims to “guide the transition from over-reliance on fossil fuels for power generation to renewable energy such as solar, wind and geothermal.”

Earlier this year, the AfDB and Eritrea signed a separate agreement for US$19.5mn in grant funding for a Desert to Power Eritrea 12 MW Mini Grid Project.

This is designed to support the rollout of mini-grids that will generate 12 MW of electricity across the regions of Teseney (6MW), Kerekebet (3MW), and Barentu (3MW).

Read more:

Eritrea dam project highlights water sector priorities 

Grant funding approved for 12MW Eritrea mini-grid project

ADF approves US5.5mn grant for phase two of flagship Desert-to-Power project

NERSA approves Lyra Energy Trading’s licence, enabling renewable power access for South Africa’s commercial and industrial users. (Image source: Lyra Energy)

Energy

Lyra Energy Trading, the trading arm of South Africa-based integrated electricity aggregator Lyra Energy, has received its electricity trading licence from the National Energy Regulator of South Africa (NERSA)

The licence was officially approved on 30 July 2025, following a thorough process that included public hearings and full regulatory compliance.

This development represents a key advancement in Lyra Energy's strategy to deliver clean, affordable power to South Africa’s commercial and industrial markets. With the trading licence in place and access to generation assets secured, Lyra Energy is now positioned as a competitive force in the country’s evolving Wholesale Energy Market. The company aims to offer pricing and contract flexibility to meet the shifting demands of commercial and industrial energy consumers.

Lyra Energy’s trading model includes short-term, standardised power purchase agreements that help mitigate tariff volatility. These agreements also contribute to customers' decarbonisation goals and facilitate the acquisition of green energy credentials.

“We’re proud to be awarded our electricity trading licensed by NERSA, whose role in the transition to the South African Wholesale Energy Market cannot be overstated,” remarked Eben de Vos, head of Lyra Energy. “This award enabling us to use the regulated wheeling framework to buy bulk electricity from Lyra Energy’s generation assets and sell portions thereof to commercial and industrial users.”

Supported by major industry partners

Established in 2024, Lyra Energy is supported by a strategic collaboration led by Scatec and STANLIB Asset Management. Scatec is a leading renewable energy solutions provider, while STANLIB is one of South Africa’s largest asset managers, known for its specialised infrastructure investment team.

Scatec brings to the partnership a broad pipeline of solar, wind, and hybrid projects under development across South Africa and neighbouring regions. The company’s strong track record in delivering and operating energy assets in liberalised markets adds significant operational strength to the initiative.

Meanwhile, the STANLIB Infrastructure Investment team contributes deep infrastructure knowledge and financial mobilisation capabilities, particularly from long-term capital sources such as retirement funds, to accelerate the energy transition.

“Having Lyra Energy as a licensed electricity trader enables the combination of Scatec’s proven development and generation capabilities with STANLIB’s investment leadership to offer a credible utility-scale solution that’s responsive to the energy demands of business.”

Lyra Energy is expected to unveil its first commercial power supply agreement before the end of 2025.

Two 60kVA Yuchai-powered generator sets exported to Tunisia for reliable, quiet backup power in urban locations

Energy

Dingbo Power has strengthened its footprint in North Africa with the recent export of two 60kVA silent diesel generator sets to Tunisia

The units, each rated at 48kW/60kVA, were ordered in December 2024 by a Tunisian client seeking reliable power backup solutions for critical applications.

Built for both standby and continuous use, the generators feature integrated base fuel tanks capable of delivering up to eight hours of uninterrupted power. Each unit is equipped with a fuel level sensor connected to a cloud-enabled SmartGen control platform, enabling real-time monitoring and preventing unexpected shutdowns due to fuel depletion.

Noise reduction has also been prioritised in these units, which are housed in soundproof enclosures designed to keep noise levels as low as 75 dB(A) at a distance of seven metres. This makes them well-suited for use in residential neighbourhoods, healthcare facilities, hospitality venues, and office environments—anywhere that demands quiet yet dependable performance.

To support long-term operational efficiency, the order also included essential maintenance accessories such as diesel and oil filters.

These generators combine a robust Yuchai engine with a Shanghai Stamford alternator and advanced control systems, offering a high-performance solution tailored to the needs of global clients. The deployment in Tunisia reflects a growing demand for intelligent, fuel-efficient and low-noise generator technology across Africa.

Dingbo Power continues to specialise in the manufacturing and export of diesel and gas generator sets, delivering customised energy solutions to international markets.

African Review

  • 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.

Launch of Propak East Africa well received by buyers and exhibitors

Propak was supported by 65 international exhibitors from 15 countries. (Image source: Montgomery)

The recently concluded inaugural edition of manufacturing event Propak East Africa, saw 2,034 trade visitors thronged the exhibition at Nairobi’s Kenyatta International Conference Centre KICC

The event was devoted to the growth in the East African packaging, printing, plastics and converting industry. Developments in this value chain, encompassing packaging materials, suppliers, labelling, converting equipment, flexographic and offset printing and market trends were the highlights of the event.

According to the show organisers Montgomery, Propak was supported by 65 international exhibitors from 15 countries and was the biggest event in East Africa.

“It was a great honor to exhibit at Propak East Africa. Although the corrugated industry is just starting in Kenya and East Africa, the visitors were professional buyers. I do believe that Propak is going to be an important platform between the buyers and suppliers and will benefit all of us,” said one of exhibitors, Jack Zhang from Hengting Machinery (China).

Jospeh Nyongesa, president of the African Packaging Organisation, who opened the exhibition, said whilst speaking at the Propak East Africa conference that the packaging industry in Kenya and East Africa has the potential to become one of the largest in Africa. This well-received and co-located conference impressed with its wide and diverse agenda and an engaging and animated panel discussion.

The exhibition and conference also welcomed a delegation put together by the International Trade Centre. These included individuals from around the region including Uganda, Tanzania, Rwanda, Zambia, Zimbabwe and more.

“Throughout the campaign we have realised that the Propak brand has been our most powerful tool,” said event director Alexander Angus.

“Propak in Johannesburg is the biggest event of its kind in the whole of Africa, underlining to both visitors and exhibitors the value of this international event. This proved pivotal in getting people to come to the event from around East Africa and delivering a quality audience to our clients,” he added.

The next edition of Propak East Africa is set to take place from 17-19 March, 2015 at the KICC in Nairobi.

Top Stories

Grid List

Energy

Infinity Power arrives in Ivory Coast

Energy

Infinity Power has signed agreements for two solar power projects that together will provide 80MW of clean electricity to the Ivory Coast

The two concessions — announced on 7 August 2025, Ivorian independence day — were awarded under the World Bank’s Scaling Solar initiative via a competitive tender process.

The projects will consist of two solar PV plants with a combined capacity of 80 MW in Touba and Laboa, plus the construction of 17 km of power transmission lines to integrate the new sites into the national grid.

Once operational, the two plants will provide electricity to over 400,000 consumers, enhancing energy access and security across the country.

It marks Infinity Power’s first collaboration with the Ivorian government, according to Mohamed Ismail Mansour, the company’s co-founder and chairman, who hailed it as a “breakthrough moment” for the business.

“Being entrusted with projects of this importance demonstrates our ability to deliver on Africa’s energy potential,” he said.

“These solar plants will not just bring affordable electricity to hundreds of thousands of people but will also empower communities, strengthen infrastructure and accelerate the country’s progress toward a decarbonised future. We are proud to be in a position to lead such a transformative effort.”

The tender process was overseen by the country’s Directorate General for Energy and CI Energies, with the International Finance Corporation (IFC) serving as an advisor to the Ivorian government.

Infinity Power’s bid was deemed the most competitive, ensuring an affordable, reliable and sustainable energy supply, with the projects also set to enable the avoidance of more than 60,000 tons of carbon dioxide a year.

It was awarded the project with a bid to supply 80 MW of solar at €0.03310 per kWh for the Laboa site and €0.03213 per kWh for the Touba site, setting a new record for the lowest solar independent power producer tariffs in West and Central Africa.

Together, they will help Ivory Coast reach its goal of increasing the country’s share of renewable energy to 42% by 2030, from only about 1% currently.

“These projects have three key objectives: to increase our production capacity, to strengthen our energy resilience and to create local job and investment opportunities,” said Mamadou Sangafowa-Coulibaly, Minister of Mines, Petroleum and Energy.

“[They] represent a significant step towards meeting our climate commitments by 2030.”

Infinity Power — a joint venture between Egypt’s Infinity and Masdar (Abu Dhabi Future Energy Company) and Africa's largest renewables provider — is on track to achieve a goal of developing 10 GW of energy projects globally by 2030.

“We have shown that renewable energy can be cost-effective, reliable and impactful at scale,”said Nayer Fouad, co-founder and CEO of Infinity Power.

Fouad said the Ivorian projects represent a “new chapter” in the West African country’s energy sector.

“With the invaluable support of the Government of Côte d'Ivoire, CI Energies, and the IFC, we are ready to deliver projects that will transform lives.”

Marie Chantal Uwanyiligira, World Bank division director for Ivory Coast, as well as for Benin, Guinea and Togo, said the country had already made “significant progress” in expanding access to electricity for its population.

“Increasing the share of solar energy in its mix, as demonstrated in this operation, will not only lower generation costs but also set the country on the path to universal access. The World Bank Group applauds these efforts and stands ready to leverage its financing and technical expertise to attract more private sector investment.”

Read more:

Sierra Leone waste-to-energy project investment boost

Inside Infinity Power's 10GW renewables target

Masdar and Infinity Power mark milestone for Egyptian wind farm

 

 

Vertiv unveils OneCore, a prefabricated solution designed to accelerate global data centre deployment with power, cooling, and IT integration. (Image source: Vertiv)

Eritrea to revive Hirgigo power plant

Construction

Komatsu to open training center in Côte d’Ivoire, boosting skills for Africa’s construction and mining sectors. (Image source: Komatsu)

Construction

Komatsu Ltd., led by President and CEO Takuya Imayoshi, will participate in the 9th Tokyo International Conference on African Development (TICAD 9), scheduled from August 20 to 22 at the Pacifico Yokohama Exhibition Hall 

Under the theme “Creating value together through Innovation to empower Africa’s Sustainable Future,” Komatsu will showcase initiatives focused on human resource development, advanced technologies, infrastructure contributions, and corporate social responsibility in Africa.

A centerpiece of Komatsu’s exhibit is its plan to establish a new training center in Côte d’Ivoire, slated for completion in 2026. This facility will serve as a hub for training construction equipment operators and mechanics from distributors, customers, and local communities across West Africa. Initially focused on skills development, the center will use Komatsu Group’s advanced simulators to provide practical training aimed at improving operator proficiency and creating job opportunities. Over time, Komatsu intends to expand the facility’s functions to include equipment stock, parts depot, and marketing capabilities, positioning it as the company’s core facility in West Africa.

To support this goal, Komatsu will demonstrate compact simulators for hydraulic excavators and bulldozers at TICAD 9. These VR-based training tools enable safe, immersive learning experiences and are planned for use at the new training center.

Additionally, Komatsu will display its latest hydraulic excavator model, the PC200i-12, featuring advanced 3D construction capabilities. This equipment enhances operational efficiency and precision, even for less experienced operators, and supports the development of quality infrastructure—an essential element for Africa’s continued growth.

Komatsu has been active in Africa since the 1960s, gradually expanding its footprint by opening offices and distributorships, including a presence in South Africa. With Africa’s rising demand for construction and mining equipment driven by population growth and abundant natural resources, the need for skilled operators and vocational training remains critical.

Currently, Komatsu operates 22 training centers across 15 countries, including facilities in South Africa, Dubai, and Japan. The company is committed to leveraging its expertise in human resource development to address social challenges and support sustainable growth in Africa. Through its initiatives and investments, Komatsu aims to empower the continent’s future by building local talent and strengthening its regional presence.

Chinese forklift makers shift focus to Africa as infrastructure growth fuels regional demand and localisation efforts

FAMCO supports MAR with Volvo machines, boosting marine and civil construction across Middle East and Africa. (Image source: Volvo CE)

Mining

Delivering results in lithium sorting. (Image source: TOMRA Mining)

Mining

A year after Pilbara Minerals commissioned the world’s largest lithium ore sorting plant in Australia, TOMRA Mining’s sensor-based sorting technology is delivering measurable value — with clear significance for the Africa market

The technology is now delivering measurable value at the Pilgangoora Operation in Western Australia, contributing to the strongest quarterly production of FY25, significantly reduced costs and enhanced resource utilisation.

As investors get to grips with Africa’s strategic importance in critical minerals, including lithium, the search is on for effective, powerful solutions and innovations that can streamline and boost productivity.

Powered by TOMRA Mining’s advanced sensor-based sorting technology, the Pilgangoora Operation has achieved impressive results, boosting production, reducing costs and unlocking value from previously uneconomical ore.

In its June Quarter FY25 results, Pilbara Minerals reported a 77% increase in production volume and a 10% reduction in unit operating costs (FOB) compared to the previous quarter.

These gains stem from the ramp-up of the P1000 expansion and the integration of TOMRA Mining’s cutting-edge sorting technology.

“The June Quarter marked the strongest performance of the year, clearly demonstrating the impact that TOMRA’s technology can deliver at scale,” said Gavin Rech, area sales and technical manager Australia at TOMRA Mining.

“By unlocking value from lower-grade contact ore previously considered uneconomical, the operation now accesses more lithia units from the pit, enhancing resource utilisation and mine flexibility.”

Commissioned in August 2024 as part of the P680 Expansion Project, the crushing and sorting plant is the largest lithium ore sorting facility in the world, with a capacity of more than 1,000 tonnes per hour.

TOMRA Mining’s sensor-based technology enables early waste rejection, significantly improving lithium recovery and final product quality while reducing energy consumption and environmental impact.

The sorting plant successfully addresses a key challenge in lithium mining: managing spodumene ore within barren host rock.

It includes 10 high-precision TOMRA sorters – four TOMRA COM Tertiary XRT for fines, three TOMRA COM XRT 2.0 for mid-sized particles, and three TOMRA PRO Primary Color for coarse-sized particles.

By removing barren material upstream, the plant enhances the efficiency of downstream processes, reduces energy use by 8–15 GWh annually, and ensures consistent product quality.

This success is the result of several years of collaboration between TOMRA Mining, Pilbara Minerals and engineering partner DRA Global.

The project was delivered on time and on budget, following extensive testwork at TOMRA’s Sydney Test Centre that demonstrated the technology’s capability to deliver high lithium recovery and effective waste separation across varied ore domains.

This strategic choice also supports Pilbara Minerals’ long-term goals of cost optimisation and sustainable growth.

The ore sorting facility boosts Pilgangoora’s production capacity and lays the foundation for future expansions under the P2000 project.

As the lithium market evolves, the company is well-positioned to lead through innovation and resilience.

With the P1000 expansion now complete and the P2000 feasibility study underway, TOMRA Mining’s proven technology and industry-leading expertise continue to support Pilbara Minerals’ long-term strategy for scalable, cost-efficient and responsible lithium production.

Read more: 

Record-breaking diamonds recovered with TOMRA technology

A giant leap forward in sensor-based sorting

TOMRA RXT technology exceeds expectations at magnesite deposit

World Bank and gold council back Côte d’Ivoire’s small-scale mining transformation

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Logistics

Kenya Airways and Air Tanzania deepen regional cooperation to boost air connectivity and operational synergy

Logistics

In a major step forward for East and Southern African aviation, Kenya Airways and Air Tanzania have signed a Memorandum of Understanding (MoU) to deepen strategic collaboration and improve regional air connectivity

The agreement lays the groundwork for expanded cooperation between the two national carriers, with a focus on building regional and international partnerships that favour cooperation over competition. Both airlines will combine resources and expertise to support sustainable, cost-effective growth in the aviation sector.

The MoU highlights key areas of collaboration including the exchange of knowledge and best practices in human resource training, aircraft maintenance, engineering, cargo services, technical cooperation, MRO (maintenance, repair and overhaul), safety, and innovation. This joint approach aims to deliver more integrated travel options and improve service efficiency across the region.

Speaking at the signing ceremony, Allan Kilavuka, group managing director and CEO of Kenya Airways, said, "This partnership underscores our commitment to building regional capacity to support economic growth, trade, and tourism across East Africa. By collaborating closely with Air Tanzania, we can jointly offer our passengers and cargo clients more flexible and efficient travel solutions."

Air Tanzania CEO Peter Ulanga added, "This collaboration marks a significant milestone in our efforts to expand our regional presence and better serve the growing demand for air travel in Africa. Together with Kenya Airways, we are creating a stronger, more connected aviation landscape that will benefit our economies and our people."

The MoU was formalised during a ceremony at the Johari Rotana Hotel in Dar es Salaam, Tanzania, where both CEOs signed the agreement.

This strategic partnership is expected to foster a more integrated, competitive, and sustainable aviation environment across Africa, opening new market opportunities and strengthening the economic fabric of the communities served by both airlines.

Dr Brook Taye (left), CEO of EIH, pictured with Shahram Falati, IVECO’s business director for Africa & Middle East. (Image source: IVECO)

New Iveco vehicles at the Madrid truck plant (Image source: Iveco)

Finance

Paycorp invests in UK’s Currency Stream to accelerate FX tech growth across Africa, Asia, the Americas and Europe

Finance

Paycorp, a global payments group with strong South African roots, has made a strategic investment in Currency Stream, a UK-based fintech that specialises in real-time foreign exchange and multi-currency payment solutions

This partnership is set to accelerate Currency Stream’s growth in Europe and open up new expansion opportunities across Africa, Asia, and the Americas. Paycorp will contribute capital, international reach, and over 20 years of payments expertise to help drive Currency Stream’s global ambitions.

The investment builds on a successful working relationship that spans over seven years. Since 2017, Paycorp has implemented Currency Stream’s Dynamic Currency Conversion (DCC) technology across Central and Eastern Europe and Southern Africa.

“This partnership is a natural evolution of our long-standing relationship with Currency Stream,” said Steven Kark, CEO and co-founder of Paycorp, who will be joining the Currency Stream International board. “They’ve consistently delivered results with robust tech, transparency, and smart thinking. As they expand globally, it makes perfect sense for Paycorp to back that growth and take this offering deeper into markets like Africa, Asia and the US.”

Currency Stream’s proprietary technology supports real-time DCC and Multi-Currency Pricing (MCP) in over 160 currencies. Already trusted by top acquirers, gateways, and e-commerce platforms worldwide, the company’s solutions will now be brought to new sectors and high-growth regions. The focus will be on retail, travel, and online commerce — markets where FX transparency and multi-currency functionality are increasingly vital.

“This investment cements a powerful partnership built on innovation and trust,” said Noel Goddard, founder and CEO of Currency Stream. “Paycorp understands the complexities of cross-border payments and has the scale, experience and strategic focus to help us serve more partners faster, particularly across Africa and other emerging markets.”

This move aligns with Paycorp’s wider strategy of expanding its portfolio of value-added payment solutions. With operations in Southern Africa, Eastern Europe, and the UK, Paycorp is already recognised for its services in ATM and cash operations, transaction processing, embedded business funding, and alternative payments.

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Dangote's refinery is essential for Nigeria's transport economy

Manufacturing

SEW-EURODRIVE’s TrueDNA delivers integrated, high-performance drive solutions with faster lead times and extended warranties. (Image source: SEW EURODRIVE)

Manufacturing

The introduction of SEW-EURODRIVE’s TrueDNA package responds directly to challenges faced by industry when mixing components from multiple suppliers in a drive solution

Performance inconsistencies, compatibility issues and support gaps have often compromised efficiency and reliability.

By offering a complete power pack solution from a single original equipment manufacturer (OEM) comprising the highest quality components, SEW-EURODRIVE ensures every component works in perfect harmony - guaranteeing optimum performance, streamlined support for extended warranties and peace of mind.

TrueDNA from SEW-EURODRIVE, a global leader in automation and drive technology, is a fully integrated turnkey drive solution designed for maximum flexibility, performance and efficiency. Engineered to cover a wide range of power, torque and speed characteristics, it can be easily adapted to drive various equipment across multiple heavy industries.

“A major advantage of the TrueDNA package is the significant reduction in lead times,” commented Jonathan McKey, national sales and marketing manager at SEW-EURODRIVE. “Because the majority of components are stocked items, customers can typically expect delivery within six to eight weeks from date of order - a notable improvement compared to traditional sourcing processes. This means quicker access to the latest technological advancements without lengthy delays, enabling customers to start production sooner, generate revenue faster and achieve savings on shorter timelines.

Each TrueDNA solution typically includes a base plate, gearbox, coupling and motor - all precisely matched to ensure seamless compatibility and optimum operational performance. Most customers opting for TrueDNA have selected the innovative X.e series gearbox, renowned for its enhanced efficiency, durability and energy-saving features.

The drive train is pre-filled with the customer’s lubrication of choice, although SEW-EURODRIVE recommends its latest advanced oil technology which offers extended lifetime, superior lubrication
properties and improved efficiency in power transfer. With proper maintenance, customers can further reduce costs through extended oil change intervals.

“Choosing the TrueDNA package not only means acquiring cutting-edge drive technology, but also gaining additional value through extended warranties and complimentary maintenance training for end-user personnel,” McKey noted. “We are committed to ensuring optimum long term performance
and supporting our customers’ operational excellence.

With TrueDNA, SEW-EURODRIVE redefines industrial drive solutions - simplifying procurement, optimising performance and delivering a future-ready package built to meet the toughest demands of modern industry.

Ajibola Akindele, country president at Schneider Electric. (Image source: Schneider Electric)

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