webvic-b

twitter Facebook Linkedin acp Contact Us

Test Article (2)

Test Article

Top Stories

Grid List

Funding boost for Rwanda's electricity sector (Image source: AfDB)

Energy

The African Development Bank (AfDB) has approved €173.84mn (US$201mn) in additional funding in support of electrification efforts in Rwanda

AfDB said in a statement that the goal of its Rwanda Energy Sector Result-Based Financing (RBF II) programme is to modernise the country’s electricity network, expand access to clean energy and strengthen institutional capacity.

In addition, the Asian Infrastructure Investment Bank will also provide a further €86.92mn (US$101mn), bringing the total programme cost to €260.76mn (US$302mn).

RBF II is anchored on Rwanda’s Energy Sector Strategic Plan 2024–2029, which aims to improve the quality of life of residents, drive economic growth and reduce poverty through targeted energy sector investments, the AfDB noted.

Specifically, it added, the new programme is focused on delivering results in three areas: modernising and extending the electricity network and systems; increasing access to on-grid and off-grid electricity and clean cooking technologies; and strengthening technical and institutional capacity.

It will connect 200,000 households and 850 productive use customers to the national grid, add 50,000 new electricity connections through off-grid solutions, provide clean cooking devices to 100,000 households and 310 public institutions, and install street lighting on 200 km of roads in secondary cities across Rwanda.

AfDB added that the RBF II programme forms part of the bank’s High-5 priority areas of ‘Light up and Power Africa’ and ‘Improve the Quality of Life of the People of Africa’.

Additionally, it will contribute to delivering on the Mission 300 Initiative of the African Development Bank and the World Bank to connect 300 million Africans to electricity by 2030, it noted.

Read more: 

Burundi's Jiji hydro power plant opened

AfDB supports Kigali's first urban cable car project

Kerry Group opens manufacturing site in Rwanda

Mission 300 electrification drive nets US$8bn cash boost

Work is well underway on the Lagos-Calabar Coastal Highway (Image source: Hitech Construction)

Construction

As Nigeria’s Hitech Construction Company Limited nears completion on the first segment of the Lagos-Calabar Coastal Highway, the project has secured a landmark financing package involving commercial and other lenders that bodes well for future infrastructure developments

Deutsche Bank led a US$747mn syndicated loan to fund the first section of the project, which covers a 47-km stretch from Victoria Island to Eleko Village in Lagos.

A statement by Nigeria’s Ministry of Finance said it marks the largest syndicated loan ever arranged for a roads project in the country and reflects a “strong signal of global investor confidence” in the nation’s reform trajectory and infrastructure pipeline.

The Lagos-Calabar Coastal Highway is a flagship project under Nigeria’s Renewed Hope Infrastructure Development Agenda.

“This deal reflects the success of our macroeconomic reforms and the return of international capital to support Nigeria’s development,” said Wale Edun, Minister of Finance and Coordinating Minister of the Economy.

“We are focused on financing infrastructure in ways that are sustainable, transparent and catalytic — and this transaction is a model of that vision.”

Deutsche Bank acted as the transaction’s global coordinator, lead arranger and bookrunner and participated in the syndicate, alongside other regional and international lenders.

The syndicate includes support from development finance institutions, export credit agencies and international commercial banks, such as First Abu Dhabi Bank, the African Export-Import Bank (Afrexim), the Abu Dhabi Exports Office (ADEX), ECOWAS Bank for Investment and Development, Nexent Bank N.V. (formerly known as Credit Europe Bank N.V.) and Zenith Bank (through its UK, Paris and Nigeria offices).

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a part of the Islamic Development Bank Group, provided partial political and commercial risk insurance.

The project is structured as an EPC+F (Engineering, Procurement, Construction + Financing) contract awarded to Hitech Construction, one of Nigeria’s leading infrastructure firms.

The highway, which is being built using Continuously Reinforced Concrete Pavement (CRCP), also reflects a commitment to longer-term resilience and efficiency, engineered for a minimum lifespan of 50 years with minimal maintenance.

Construction of Phase 1 Section 1 is already over 70% complete, said Dany Abboud, Hitech Construction’s managing director.

“We are proud to deliver this historic project,” he said. “We are showing that Nigerian engineering — backed by structured international finance— can meet global standards. The use of CRCP technology ensures unmatched durability and cost-efficiency.”

The highway will serve as a vital trade and logistics corridor for Nigeria, enhancing regional integration, tourism, reducing transport costs and creating jobs.

A tolling strategy is currently being finalised to ensure the project’s operational and financial sustainability, while additional funding for subsequent phases is now being structured, reportedly with strong interest from regional and international investors, according to the Ministry of Finance.

“This transaction is a vote of confidence in Nigeria’s economic reform agenda,” said David Umahi, Nigeria’s Minister of Works.

“The Lagos-Calabar Highway is a strategic national asset, and this financing sets a strong precedent for future public-private infrastructure partnerships.”

Read more:

African Development Bank targets Nigeria's infrastructure

Nigeria begins work on Cross Rivers agro-industrial zone

Hitech hits the Lagos-Calabar-highway

Dangote to build Nigeria's biggest port

Transnet and UMK enter 10-year manganese transport agreement under MECA framework

Mining

Transnet SOC Ltd and United Manganese of Kalahari (UMK) have signed a 10-year agreement for transporting manganese by rail from UMK’s Northern Cape mine to export ports

The deal falls under the Manganese Export Capacity Allocation (MECA) 3 framework, through which Transnet allocates rail and port capacity to South African manganese producers. The long-term commitment reflects UMK’s confidence in Transnet’s capability to support access to global markets efficiently.

Transnet group CEO, Michelle Phillips, said, “We are encouraged by the vote of confidence expressed by UMK through their long-term commitment as part of the MECA programme. This agreement is a clear demonstration of our customers’ confidence in the efficiency and reliability of our services. It also bodes well for Transnet’s growth and sustainability, which is underpinned by our ambitious Reinvent for Growth Strategy amid various reform initiatives within the freight logistics sector.”

UMK CEO, Malcolm Curror, emphasised the importance of reliable rail freight, “By enabling the efficient movement of bulk commodities such as manganese, MECA not only positively adds to our national export capability but also to a greater competitive revitalisation of the country’s logistics network.”

He added that this efficiency is vital for sustaining economic growth and encouraging investment across sectors.

Curror also noted, “The MECA agreement holds significant and broader relevance to current national dialogue regarding the mining sector in South Africa.”

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

Logistics

This year, IVECO and AMCE celebrate 50 years partnership driving Ethiopia’s automotive sector

AMCE (Automotive Manufacturing Company of Ethiopia), a portfolio company of Ethiopian Investment Holdings (EIH), teamed up with global automotive leader IVECO in 1975, a collaboration that has played a defining role in Ethiopia’s transport and industrial development.

Established in 1970 and entering a joint venture with FIAT/IVECO shortly thereafter, AMCE has now assembled and delivered more than 30,000 IVECO commercial vehicles over five decades including the iconic 682N3 trucks, Trakker, IVECO T-Way, Leoncino buses, and specialized trailers built to serve Ethiopia’s growing logistics and public service sectors.

“For 50 years, AMCE and IVECO have worked hand-in-hand to deliver durable, reliable, and locally assembled vehicles that move Ethiopia forward,” said Antonio Caruso, AMCE general manager.

“We are proud of the legacy we’ve built together and look forward to continuing this journey of innovation and partnership.”

Founded in 1970, AMCE operates under a joint venture structure, with 70% ownership by IVECO and 30% by the Ethiopian government through EIH.

The impact of the AMCE and IVECO partnership extends far beyond assembly lines, however.

It has enabled technology and skills transfer across Ethiopia’s industrial ecosystem, spurring the growth of local manufacturers.

The after-sales and maintenance sector has similarly benefited, with technical expertise shared with workshops and service providers from Adama to Bahir Dar.

AMCE’s spare parts dealers throughout the country also allow IVECO customers access to genuine parts.

As Ethiopia continues to prioritise industrialisation and logistics modernisation, IVECO and AMCE remain committed to supporting these national priorities through advanced vehicle solutions, workforce training and local value creation.

“AMCE stands as a model of how joint ventures can deliver long-term economic and social value for Ethiopia,” said Dr Brook Taye, CEO of EIH.

“This partnership has been instrumental in strengthening Ethiopia’s automotive capacity and driving sustainable industrial growth.”

He added: “The next phase of our partnership will focus on addressing the logistics sector constraints in partnership with our portfolio companies and the private sector and introducing a wide range of IVECO’s electric vehicle options to the Ethiopian market.”

Read more

IVECO: 50 years strong

Daimler Truck vehicle assembly plant in Senegal

A boost for South African automotive manufacturing

IVECO embraces change in product and services renewal

IVECO partners with Al-Imtiyazgroup to expand presence in Libya

South Africa has entered into a US$1.5bn loan agreement with the World Bank to support the revitalisation of its transport and energy infrastructure and stimulate economic recovery, the National Treasury announced recently

For over ten years, Africa’s most industrialised economy has faced stagnation, hindered by ongoing power outages that have reduced productivity and deteriorating rail systems and port congestion that have impacted key industries like mining and automotive manufacturing.

The government expects the loan to help alleviate transport constraints and bolster energy security, although it has not disclosed which specific projects the World Bank funds will support.

The loan is expected to help manage the country’s rising debt-service burden by offering more favourable conditions than those available in commercial markets, including a three-year grace period.

State-run utilities Eskom and Transnet, responsible for energy and transport respectively, have faced long-standing operational and financial difficulties, contributing to the country’s sluggish growth, which stood at only 0.1% in the first quarter.

The Treasury stated that the interest rate on the 16-year loan from the World Bank is the six-month Secured Overnight Financing Rate plus 1.49%.

This facility is distinct from another US$500mn in funding that the World Bank Group is considering to help mobilise private investment in South Africa’s electricity transmission infrastructure, which needs to be expanded to accommodate more renewable energy projects.

Last month, Finance Minister Enoch Godongwana outlined a budget that includes over 1 trillion rand (US$55.5bn) in investment across sectors including transport, energy, water and sanitation, aimed at driving growth and improving public services.

It aimed for public debt to peak at 77.4% of gross domestic product in the current fiscal year, slowly declining after that.

Jumia opens 27,000 sq m smart warehouse to boost Egypt e-commerce logistics

Manufacturing

Jumia, Africa’s leading e-commerce platform, has taken a significant step in reinforcing its presence in Egypt with the inauguration of a new integrated warehouse on Suez Road, Cairo

This development marks one of Jumia’s largest investments in the country and demonstrates its continued confidence in Egypt’s strategic role in Africa’s economic and logistical landscape.

Spanning over 27,000 sq m, the new facility is designed to optimise Jumia’s logistics capabilities by improving storage efficiency and speeding up deliveries, particularly to Upper Egypt. The warehouse is equipped with advanced smart systems that enhance order processing and customer satisfaction. As a key component of Jumia’s logistics infrastructure, the centre supports the company’s future expansion and aims to better serve merchants and consumers across the country.

This investment aligns with Jumia’s mission to boost Egypt’s digital economy and enhance its service offerings. It will also provide tailored logistics solutions for local manufacturers and merchants, reinforcing the platform’s support for domestic production.

The warehouse is projected to generate up to 10,000 direct and indirect jobs over the coming years, solidifying Jumia’s contribution to national economic development and youth empowerment.

Prime minister Dr Mostafa Madbouly commended the initiative, remarked, "We welcome this move by Jumia, which reflects the trust that major global companies have in Egypt’s investment climate. We look forward to more partnerships that support the state's goals in digital transformation, the development of logistics infrastructure, and the provision of job opportunities for Egyptian youth."

Abdel Latif Olama, CEO of Jumia Egypt, expressed his appreciation for the government’s support, stated, "We are proud of this achievement, which reflects Jumia’s long-term investment commitment in Egypt. We view Egypt as a strategic hub for our operations in the region. This warehouse represents a qualitative leap in the level of services we provide to our customers and partners, and it supports our vision of becoming an integrated platform that combines technology and logistics across the continent. It will also contribute to our growth in the Egyptian market."

Egypt also plays a critical role in Jumia’s tech ecosystem, hosting one of its largest technology hubs on the continent. This centre is home to a skilled team of engineers and developers who are building digital tools and logistics solutions to support operations across Africa.

During the inauguration, Olama delivered a presentation detailing Jumia’s impact in both Egypt and broader African markets. He also outlined plans for future expansion, reaffirming Egypt’s strategic importance to the company.

The launch of this facility is part of Jumia’s wider expansion strategy aimed at strengthening its infrastructure across Africa. Similar logistics centre s have already been established in Nigeria, Ghana, Ivory Coast, and Morocco, reinforcing the company’s role in advancing digital commerce and economic development across the continent.

Most Read

Latest news