In The Spotlight
Volvo Penta introduces the G17 natural gas engine to deliver scalable, lower-emission backup power for data centres, utilities & mission-critical infrastructure. (Image source: Volvo Penta)
Rising global energy demand, fuelled largely by data centres, utilities and other mission-critical infrastructure, is increasing the need for backup power solutions that are reliable, scalable and lower in emissions. In response, Volvo Penta has introduced its new G17 natural gas engine, designed to support these fast-growing sectors with dependable and flexible power generation
The G17 natural gas engine complements Volvo Penta’s established D17 genset platform and marks an important milestone in the company’s broader transformation strategy. It delivers fuel flexibility, scalable output and a clear pathway towards a more resilient and lower-carbon energy system.
“The energy transition isn’t one-size-fits-all. It requires multiple technologies and fuel pathways working in parallel,” said Kristian Vekas, product manager for Industrial Power Generation at Volvo Penta.
“The G17 expands our power generation portfolio with a gas option engineered to meet rising global demand for dependable, lower-emission solutions that are backed by the strength of the Volvo Group and our global support network. It reflects our commitment to providing customers with fit-for-purpose solutions to support their energy objectives as the landscape continues to evolve.”
Developed on the same robust platform as the D17 engine, the G17 is a 17-litre, six-cylinder, spark-ignited unit capable of operating on both conventional pipeline-quality natural gas and renewable natural gas. This dual-fuel capability enables customers to lower carbon intensity today without compromising the performance, reliability or uptime required for critical operations.
Pipeline-ready natural gas capability
The G17’s ability to run directly on pipeline-quality natural gas or renewable natural gas offers a practical, lower-carbon alternative to diesel in applications where continuous availability and environmental performance are essential. Direct connection to existing gas networks simplifies installation and removes the need for additional fuel-conditioning equipment.
“The G17 is engineered to deliver lower emissions without trade-offs,” said Vekas. “Its flexible fuel capability helps reduce carbon intensity while maintaining the power density, responsiveness and durability customers expect from Volvo Penta’s heavy-duty platform.”
Rated at approximately 450 kWe at 1,800 rpm, the engine delivers high output from a compact design. Its smaller enclosure can reduce installation space requirements and housing material costs, while fast load acceptance and rapid power response help ensure stable operation during grid disturbances or peak demand events.
Designed for flexibility and efficiency
The G17 has been developed with emissions performance in mind, targeting reduced NOₓ and particulate matter. Features such as advanced combustion management, low-pressure Exhaust Gas Recirculation (EGR) and a high-efficiency three-way catalyst enable compliance with U.S. EPA stationary power application standards. This makes the engine particularly suitable for operators with strong ESG priorities or those working within strict air-quality regulations.
Its compact, stackable architecture makes the G17 well suited for space-constrained environments such as data centres. The engine can also form part of hybrid energy systems that combine internal combustion engines with renewable fuels and battery storage. This modular approach allows power systems to scale and adapt as demand evolves. Lower potential fuel costs compared with diesel and reduced noise levels further improve economic viability and community acceptance.
Leveraging Volvo Group’s proven automotive-scale technology, the G17 is built on platforms trusted worldwide in demanding heavy-duty applications. With the same footprint and cooling configuration as the D16 and D17 engines, it supports straightforward installation and retrofit projects. Delivered as a fully integrated OEM solution, the engine’s simplified component layout and reduced cylinder count enhance serviceability and can help lower total cost of ownership over its operational life.
The MoU provides a framework to explore investment and development opportunities across ports, logistics services, maritime operations, and digital trade infrastructure. (Image source: AD Ports Group)
AD Ports Group is expanding its strategic footprint in Africa with a new partnership aimed at strengthening Nigeria’s maritime and trade sectors
In a high-level meeting attended by his excellency Bola Ahmed Tinubu, president of the Federal Republic of Nigeria, and Sheikh Mohammed Bin Khalifa Bin Mohamed Al Nahyan, advisor, UAE Ministry of Foreign Affairs, captain Mohamed Juma Al Shamisi, managing director and group CEO of AD Ports Group, discussed opportunities to enhance trade, shipping, logistics, and port operations across Nigeria.
Following the discussions, AD Ports Group signed a Memorandum of Understanding (MoU) with Nigeria’s Federal Ministry of Marine and Blue Economy. The agreement establishes a framework to explore collaborative investment and development initiatives in ports, logistics services, maritime operations, and digital trade platforms, reflecting a shared vision for modernising Nigeria’s maritime ecosystem and boosting regional and international trade connectivity.
The MoU was officially signed by Adegboyega Oyetola, minister of Marine and Blue Economy of Nigeria, and captain Mohamed Juma Al Shamisi.
Speaking on the occasion, minister Oyetola said, " This MoU represents an important step in advancing Nigeria’s Marine and Blue economy agenda. By partnering with an internationally experienced group such as AD Ports Group, we aim to explore opportunities that can strengthen port efficiency, logistics connectivity, maritime services, and digital trade infrastructure, while supporting sustainable economic growth and positioning Nigeria as a leading maritime hub in Africa. "
" Nigeria is a cornerstone of Africa’s maritime and trade landscape, with significant potential across the ports and logistics sectors," commented captain Mohamed Juma Al Shamisi.
"This MoU reflects our shared ambition to explore long-term, sustainable development opportunities that support Nigeria’s economic growth, trade competitiveness, and job creation, in line with the directives of our wise leadership. AD Ports Group brings international expertise across integrated ports, logistics, maritime services, and digital trade solutions, and we look forward to working closely with our Nigerian partners as we assess areas of mutual interest. "
The MoU comes at a time of growing significance for Nigeria’s ports and maritime sector. AD Ports Group already maintains investments in Egypt, Tanzania, Angola, and the Republic of the Congo, contributing to trade integration and economic development across Africa.
The agreement also aligns with the recently signed UAE–Nigeria Comprehensive Economic Partnership Agreement (CEPA), which aims to reduce tariffs, remove trade barriers, and encourage investment in sectors such as technology, agriculture, energy, and logistics. Non-oil trade between the UAE and Nigeria reached US$4.3bn in 2024, a 55.3% increase compared to 2023, highlighting the expanding economic ties between the two nations.
According to BMI, Nigeria’s real GDP growth is projected to rise from 4.1% in 2025 to 4.3% in 2026, marking the fastest expansion in four years. This sustained growth reinforces Nigeria’s position as one of sub-Saharan Africa’s fastest-growing economies and underscores the country’s attractiveness for strategic investments in ports, logistics, and maritime infrastructure.
HD Construction Equipment lands contract to supply 120 large excavators to Ethiopian gold mine. (Image source: Hyundai)
HD Construction Equipment, the unit managing HD Hyundai's construction equipment business, has started 2026 on a strong note, securing a significant order shortly after its launch, signaling progress toward achieving this year’s sales targets
On Wednesday, January 14, the company announced that it had finalized a contract to supply 120 large excavators to Ethiopian mining development companies. The order includes 70 units of 36-ton DEVELON excavators and 50 units of 34-ton HYUNDAI excavators, which will be deployed at a major Ethiopian gold mine.
HD Construction Equipment dominated the Ethiopian excavator market last year, capturing an 80% market share, cementing its position as the leading local provider through superior product competitiveness and customer service.
Sales of HD Construction Equipment’s 30-ton class mid- to large-sized excavators have doubled annually over the past three years. These machines are prized for their stability and durability in resource development environments across Ethiopia and other African regions, while also offering high maneuverability and fuel efficiency.
Looking ahead, HD Construction Equipment plans to strengthen customer support through local bases in Ghana and South Africa. The company aims to leverage the combined sales strength of HYUNDAI and DEVELON, which have established strong brand recognition in Africa, and to implement a cooperative system to meet rising equipment demand in major regional markets.
The company has also secured significant orders in Southeast Asia and the Commonwealth of Independent States (CIS), key emerging global markets. In Vietnam, HD Construction Equipment received an order for 71 units, including 20 units of 20-ton wheeled excavators for emergency disaster response and 51 units of 20–30 ton crawler excavators for national infrastructure projects.
In Kyrgyzstan, the company will supply 41 units, including 52-ton large excavators and 38-ton medium-large excavators to support transportation network expansion and real estate construction.
On January 14, HD Construction Equipment also released its 2026 performance forecast, presenting annual sales and operating profit targets during a conference with domestic and international institutional investors at the Korea Teachers’ Credit Union in Yeouido. The company targets KRW 8.7218 trillion (approx. US$5.92bn) in sales and KRW 439.6 billion (approx. US$298mn) in operating profit for the year.
CEO Moon Jae-young commented, "We aim to deliver performance results exceeding market growth by rapidly implementing our mid- to long-term strategy and leveraging integration synergies. We will also proactively engage in facility investment and R&D to establish core competitive advantages for our construction machinery operations."
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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.
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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.
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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.
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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.
Volvo Penta introduces the G17 natural gas engine to deliver scalable, lower-emission backup power for data centres, utilities & mission-critical infrastructure. (Image source: Volvo Penta)
Rising global energy demand, fuelled largely by data centres, utilities and other mission-critical infrastructure, is increasing the need for backup power solutions that are reliable, scalable and lower in emissions. In response, Volvo Penta has introduced its new G17 natural gas engine, designed to support these fast-growing sectors with dependable and flexible power generation
The G17 natural gas engine complements Volvo Penta’s established D17 genset platform and marks an important milestone in the company’s broader transformation strategy. It delivers fuel flexibility, scalable output and a clear pathway towards a more resilient and lower-carbon energy system.
“The energy transition isn’t one-size-fits-all. It requires multiple technologies and fuel pathways working in parallel,” said Kristian Vekas, product manager for Industrial Power Generation at Volvo Penta.
“The G17 expands our power generation portfolio with a gas option engineered to meet rising global demand for dependable, lower-emission solutions that are backed by the strength of the Volvo Group and our global support network. It reflects our commitment to providing customers with fit-for-purpose solutions to support their energy objectives as the landscape continues to evolve.”
Developed on the same robust platform as the D17 engine, the G17 is a 17-litre, six-cylinder, spark-ignited unit capable of operating on both conventional pipeline-quality natural gas and renewable natural gas. This dual-fuel capability enables customers to lower carbon intensity today without compromising the performance, reliability or uptime required for critical operations.
Pipeline-ready natural gas capability
The G17’s ability to run directly on pipeline-quality natural gas or renewable natural gas offers a practical, lower-carbon alternative to diesel in applications where continuous availability and environmental performance are essential. Direct connection to existing gas networks simplifies installation and removes the need for additional fuel-conditioning equipment.
“The G17 is engineered to deliver lower emissions without trade-offs,” said Vekas. “Its flexible fuel capability helps reduce carbon intensity while maintaining the power density, responsiveness and durability customers expect from Volvo Penta’s heavy-duty platform.”
Rated at approximately 450 kWe at 1,800 rpm, the engine delivers high output from a compact design. Its smaller enclosure can reduce installation space requirements and housing material costs, while fast load acceptance and rapid power response help ensure stable operation during grid disturbances or peak demand events.
Designed for flexibility and efficiency
The G17 has been developed with emissions performance in mind, targeting reduced NOₓ and particulate matter. Features such as advanced combustion management, low-pressure Exhaust Gas Recirculation (EGR) and a high-efficiency three-way catalyst enable compliance with U.S. EPA stationary power application standards. This makes the engine particularly suitable for operators with strong ESG priorities or those working within strict air-quality regulations.
Its compact, stackable architecture makes the G17 well suited for space-constrained environments such as data centres. The engine can also form part of hybrid energy systems that combine internal combustion engines with renewable fuels and battery storage. This modular approach allows power systems to scale and adapt as demand evolves. Lower potential fuel costs compared with diesel and reduced noise levels further improve economic viability and community acceptance.
Leveraging Volvo Group’s proven automotive-scale technology, the G17 is built on platforms trusted worldwide in demanding heavy-duty applications. With the same footprint and cooling configuration as the D16 and D17 engines, it supports straightforward installation and retrofit projects. Delivered as a fully integrated OEM solution, the engine’s simplified component layout and reduced cylinder count enhance serviceability and can help lower total cost of ownership over its operational life.
Ethiopian Airlines Group, Africa’s largest airline, has officially launched construction of Bishoftu International Airport, marking a major milestone in the continent’s aviation development
Construction commenced on 10 January 2026, following a formal groundbreaking ceremony attended by His Excellency Dr Abiy Ahmed, prime minister of the Federal Democratic Republic of Ethiopia, alongside ministers, senior government officials, industry leaders, stakeholders and Ethiopian Airlines executives.
During the ceremony, Ethiopian Airlines also revealed the airport’s architectural design and confirmed the successful completion of the resettlement and livelihood restoration programme for communities affected by the project.
Prime minister Dr Abiy Ahmed, senior government representatives and Ethiopian Airlines Group CEO Mesfin Tasew jointly unveiled a commemorative plaque to mark the official start of construction.
Commenting on the occasion, Ethiopian Airlines Group CEO Mesfin Tasew said, “This is truly a proud moment for Ethiopian Airlines and for all of Africa. We are embarking on a new chapter with the groundbreaking of Bishoftu International Airport that will redefine the continent’s aviation ecosystem. As we celebrate 80 years of service, this project stands as yet another milestone, underscoring our commitment to shaping the future of the African air transport industry, while supporting the growing demand for our passenger and cargo services. Bishoftu International Airport is a major step towards addressing the infrastructural gap in Africa and a key player in implementing the African Continental Free Trade Area (AfCFTA), and at Ethiopian we are committed to realize the completion of this project.”
In his address, prime minister Dr Abiy Ahmed described the groundbreaking as a landmark moment in Ethiopia’s path toward modernisation and economic growth. He highlighted Ethiopian Airlines as a symbol of national pride, not because it has been without challenges, but because of its resilience, ability to overcome obstacles, and pioneering role in African aviation. He further noted that the airline’s strength is rooted in its corporate culture, which prioritises safety and security, encourages leadership driven by creativity and hard work, is supported by a workforce of more than 26,000 employees who identify strongly with the national carrier, and is reinforced by a continuous commitment to learning and capacity building.
Bishoftu International Airport is set to become a transformative infrastructure project for Ethiopian and African aviation, strengthening trade, tourism and connectivity across Africa and beyond. Phase One is scheduled for completion by 2030, with capacity to handle 60 million passengers annually. Once fully developed, the airport is expected to accommodate up to 110 million passengers per year, positioning Ethiopia as a leading global aviation hub.
Canada’s Northern Graphite is looking to restart production at Namibia’s Okanjande graphite mine after signing a deal to supply a new battery anode material (BAM) plant in Saudi Arabia
The graphite mine has been on care and maintenance since 2018.
It follows the signing of a US$200mn agreement with Obeikan Investment Group to jointly develop and operate a large-scale BAM facility in Saudi’s Yanbu Industrial City through a joint venture company.
The joint venture company will be 51% owned by Obeikan and 49% by Northern with first phase BAM production capacity forecast at 25,000 tonnes per year (tpy), to be followed by potential expansion to meet growing global demand.
Construction of the industrial facility is expected to start in 2026, with first-phase production forecast to begin in 2028.
The two sides will also look to conclude a long-term offtake agreement for the purchase of up to 50,000 tpy of graphite concentrate from Northern’s Okanjande mine.
Hugues Jacquemin, Northern Graphite’s CEO, said the joint venture marks a defining step in Northern’s evolution from a mining company into a fully integrated, global battery anode material producer.
“By partnering with Obeikan in the Kingdom of Saudi Arabia, we are partnering with a well-financed and experienced industrial player, gaining scale, financing strength, and access to one of the world’s most strategically important industrial hubs,” he said, “while accelerating the restart of our Okanjande mine in Namibia and advancing our broader mine-to-market strategy.”
The project is also aligned with Saudi Arabia’s Vision 2030 and accelerating demand for secure, non-Chinese graphite anode supply chains.
Project debt financing is expected to to be sourced from Saudi government finance agencies, as well as local and global commercial banks.
According to SNE Research, lithium-ion battery cell manufacturing capacity is expected to reach 4,527 GWh by 2035 (9% CAGR), with graphite retaining over 91% anode share through 2040.
At the same time, evolving policies are splitting the global graphite market as tariffs and de-risking measures drive demand for non-Chinese anode materials.
“Saudi Arabia is an attractive location for our BAM plant due to its low energy and labour costs, close proximity to Namibia, strong government support, favourable financing conditions, and trade advantages that include low tariffs into the US and efficient access to European markets,” said Jacquemin.
Northern will receive a royalty on net sales of BAM in addition to its direct ownership interest in the joint venture company.
It also materially accelerates the restart and potential expansion of the Okanjande mine in Namibia, Northern commented in a statement, “and represents an opportunity to substantially increase the company’s graphite production at a lower cost and with a shorter time to market than most competing projects.”
A preliminary economic assessment for the Okanjande project contemplates 31,000 tpy of production over a 10-year mine life.
However, Northern believes the mine contains a “substantial measured and indicated resource” and intends to prepare a new technical report to evaluate the economics of producing at a higher rate.
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UAE logistics leader Al Sharqi Shipping expands into Kenya and Uganda, digitising trade across East Africa
UAE-based logistics firm Al Sharqi Shipping has officially expanded into Kenya and Uganda, creating a dual operational footprint aimed at digitising and accelerating trade between the UAE and Africa’s high-growth markets
Strategic gateway and hub approach
The expansion targets the full logistics value chain in East Africa:
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Kenya (Nairobi): Leveraging the UAE-Kenya Comprehensive Economic Partnership Agreement (CEPA), Nairobi will serve as the primary coastal gateway for cargo entering the continent.
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Uganda (Kampala): The Kampala office will act as a critical transit hub for the Great Lakes region, managing on-carriage logistics to landlocked markets, including Rwanda, South Sudan, and the Democratic Republic of Congo.
Infrastructure and capabilities investment
Al Sharqi is building local capabilities in both countries to ensure full end-to-end control of operations:
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Customs Acceleration: Proprietary workflows to efficiently navigate Kenya and Uganda’s regulatory frameworks.
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Cross-Border Trucking: Dedicated fleets to secure the complex Mombasa-Nairobi-Kampala corridor.
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Supply Chain Visibility: Real-time tracking of goods moving from Dubai to Uganda’s interior.
"This is not just an expansion; it is a commitment to the future of UAE-Africa trade," said Kashif Rafiq, CEO of Al Sharqi Shipping.
"While the UAE-Kenya CEPA provides the regulatory framework, the logistics reality requires boots on the ground across the border. By establishing a direct presence in both Nairobi and Kampala, we are securing the entire trade lane, ensuring reliability for importers in both key markets."
African Export-Import Bank (Afreximbank) and Heirs Energies Limited have unveiled a US$750mn financing arrangement aimed at strengthening Heirs Energies’ capital structure and releasing liquidity to meet its working capital needs as it advances an extensive field development programme
The funding is expected to play a key role in boosting Nigeria’s domestic energy supply at a time of rising demand.
The agreement was signed in Abuja by Dr George Elombi, president and chairman of the board of directors of Afreximbank, and Tony O Elumelu CFR, chairman of Heirs Energies Limited. Structured as a dual-tranche, senior secured reserve-based lending facility, the financing is intended to support Heirs Energies’ next phase of expansion as the company seeks to increase and sustain oil and gas production.
Under the transaction, Afreximbank served as Mandated Lead Arranger, Facility Agent, and Security Agent. The deal is viewed as a significant step in the strategic relationship between Afreximbank and Heirs Energies, reflecting deeper collaboration between the two organisations.
Speaking after the signing, Dr Elombi described the partnership as evidence of Afreximbank’s focus on value creation and backing African entrepreneurs.
“Without investments, such as the one being provided to Heirs Energies, many fossil fuel-dependent African economies would face dire economic challenges,” said Dr Elombi. “Our aim, among others, is to empower the African entrepreneur. Our core strength is in the value of the partnerships we continue to forge.”
He also acknowledged Mr. Elumelu’s continued support for Afreximbank, noting that such collaborations have helped position the institution as a key driver of Africa’s economic transformation and broader development objectives.
Dr Elombi reiterated Afreximbank’s commitment to advancing the African Energy Bank initiative, stating, “we should get to higher strides and get the Energy Bank so we can move most of the energy portfolio there. We will put tremendous capital in it to be as bold and as innovative as Afreximbank”.
He further indicated that Afreximbank is open to working with Heirs Holdings and its affiliated businesses as they expand into other West African markets, including Ghana and Côte d’Ivoire, as well as across the wider continent. “Our aim is to spread and support the domination of the African brand across Africa.”
Tony O Elumelu, CFR, chairman of Heirs Energies Limited, said, “This transaction is a powerful affirmation of what African enterprise can achieve when backed by disciplined execution and long-term African capital. It reflects the successful journey Heirs Energies has taken – from turnaround to growth – and reinforces our belief in African capital working for African businesses. This is Africa financing Africa’s future.”
Heirs Energies occupies a central position in Nigeria’s oil and gas sector, where crude oil continues to hold major national and international significance.
The relationship between Afreximbank and Heirs Energies dates back to 2021, when the company, then operating as Heirs Oil and Gas, completed the acquisition of a 45% participating interest in the OML 17 Joint Venture. The US$1.1bn transaction was financed by a consortium of international and local banks led by Afreximbank and represented one of the largest indigenous energy acquisitions in Nigeria’s oil and gas industry.
Afreximbank contributed up to US$250mn to that financing, highlighting its commitment to developing Africa’s energy sector and supporting intra-African trade and African-owned businesses.
Following the acquisition, crude oil output increased from around 25,000 barrels per day to an average of 50,000 barrels per day, alongside growth in associated and non-associated gas production. Heirs Energies also achieved first gas from the Agbada Non-Associated Gas Plant on 21 November 2021, only months after assuming control of an asset that had remained under construction for more than a decade under the previous operator.
Today, Heirs Energies is the leading gas supplier within the Eastern Domestic Network and provides gas to three major power plants, together accounting for roughly 15% of Nigeria’s installed electricity generation capacity.
SANY Group has officially begun operations at its first global engineering machinery remanufacturing hub, the SANY Hunan-Hainan Intelligent Manufacturing Industrial Park
The launch marks a major step in SANY’s globalisation and sustainability strategy, with the company securing CNY100 million (US$14.27mn) in orders from clients in Southeast Asia and Africa on the opening day.
The Park represents China’s first industrial facility co-developed by a pilot free trade zone (FTZ) and a pilot free trade port, advancing cross-regional collaboration between Hunan and Hainan provinces. By leveraging both provinces’ industrial strengths and policy incentives, the Park is designed to support Chinese enterprises in expanding their international footprint.
Construction of the Park began in August 2023, covering approximately 10 hectares (150 mu). With a total investment of CNY600 million (US$85.62mn), it is expected to reach an annual output value of CNY750 million (US$107.02mn) when operating at full capacity.
Positioned as a regional remanufacturing hub and resource distribution platform, the Park focuses on the maintenance and remanufacturing of core engineering machinery components as well as second-hand equipment from domestic and international markets. The facility promotes the circular reuse of industrial resources, aligning with SANY’s commitment to sustainability.
Operating under the Hainan FTZ framework, eligible value-added processing activities enjoy tariff preferences, while remanufacturing operations under bonded supervision may qualify for corporate and personal income‑tax incentives. The Park benefits from the “Dual 15%” tax-incentive policy, receiving approval for outsourced processes to enjoy a 15% corporate income-tax reduction.
“The project represents a key strategic initiative for SANY to deepen its globalisation, digitalisation, and low-carbon transformation. Moving forward, SANY will continue to actively explore new models for remanufacturing, promote the circular reuse of industrial resources, and jointly advance the global engineering machinery industry's transition toward a greener, low-carbon future,” said Tang Xiuguo, chairman of SANY.
