Logistics

IFC invests in Nigeria’s Lagos Free Zone

IFC_signing_investment_Lagos_Free_Zone_Nigeria

The signing of the IFC investment in Lagos Free Zone (Image source: Lagos Free Zone)

The International Finance Corporation (IFC) is to invest up to US$50mn in Lagos Free Zone to support industrial growth and economic diversification in Nigeria

The funds will underpin the first phase of the 860-hectare free zone, Nigeria’s first deep-sea port-based private special economic zone, focusing on land development, industrial facilities and logistics infrastructure.

Dahlia Khalifa, IFC regional director, Central Africa and Anglophone West Africa, said the investment is designed to address critical infrastructure gaps, attract local and global businesses and contribute to Nigeria’s economic diversification agenda.

“This investment reflects IFC’s commitment to fostering inclusive economic growth and sustainable development in Nigeria,” said Khalifa.

“Lagos Free Zone is poised to become a transformative hub for industrial activity, driving job creation and enhancing Nigeria’s competitiveness in global markets.”

Owned by Singapore-based Tolaram, a diversified multinational group with operations across Africa, Asia, and Europe, Lagos Free Zone is integrated with Lekki Deep Sea Port and will provide an integrated industrial ecosystem for efficient import and export operations, serving as a gateway for Nigeria’s integration into global value chains.

With Nigeria’s economy projected to grow by 3.7% by 2026, investments in infrastructure are vital to ensuring sustainable growth.

Lagos Free Zone is already home to several manufacturing brands including Kellogg’s, Dano Milk, Colgate, BASF, ADM and Tata International.

When fully occupied, the free zone is expected to create 30,000 direct, indirect, and induced jobs, while contributing significantly to Nigeria’s GDP upon completion.

“We are proud to partner with Lagos Free Zone in building the infrastructure necessary to attract global and local businesses, enabling Nigeria to achieve its full economic potential,” said Khalifa.

The investment also reflects IFC’s commitment to sustainable development, with a focus on green infrastructure.

Approximately 15% of the investment is earmarked for climate-related initiatives.

“IFC’s support represents a significant and positive recognition of our vision to establish Lagos Free Zone as a world-class industrial hub,” said Adesuwa Ladoja, CEO and managing director at Lagos Free Zone Company.

“This investment allows us to scale up the existing infrastructure to attract more foreign and local tenants while promoting sustainability and creating economic opportunities for Nigeria.”

IFC investment also aligns with Nigeria's ongoing economic reforms and the Corporation’s own strategy, including the World Bank Group’s Nigeria Country Partnership Framework (2021–2025) and its 2015 Climate Action Plan, both of which prioritise diversification, the development of competitive clusters and investments in climate-resilient infrastructure.

By addressing infrastructure bottlenecks the aim is to strengthen and unlock Nigeria’s position as a regional economic leader.

How Is TAAG Angola modernising its fleet?

TAAG Angola Airlines enhances fleet with Boeing 787-9, improving long-haul operations across Africa. (Image source: Adobe Stock)

Boeing has delivered the first of four 787 Dreamliner aircraft to TAAG Angola Airlines, marking the introduction of the airline’s new livery

The 787-9, along with upcoming deliveries of the fuel-efficient widebody jets, will support the airline's fleet modernization and long-haul expansion, enhancing Angola's connectivity for both travelers and trade with the industry's most advanced commercial aircraft.

The first 787 Dreamliner, leased from AerCap, arrived in Luanda ahead of Angola’s Liberation Day on February 4, coinciding with nearly 50 years since TAAG Angola received its inaugural Boeing 737-200.

“The delivery of the 787-9 is a pivotal step in our strategy to modernize TAAG Angola Airlines’ fleet,” said Nelson Pedro Rodrigues de Oliveira, CEO of TAAG Angola Airlines. “This airplane brings the efficiency and versatility we need to meet growing market demands, replace our ageing widebody fleet, and deliver a world-class experience to our passengers.”

Currently, TAAG Angola Airlines operates five 777-300ERs, three 777-200ERs, and seven Next-Generation 737s, serving 12 destinations across Africa, Europe, South America, and China. The addition of the 787 Dreamliner will enable the airline to expand its long-haul operations, with plans to launch new routes to Europe and explore opportunities in Asia and North America.

“The 787 Dreamliner will complement TAAG Angola Airlines’ fleet of Boeing 737 and 777 jets, as we continue to support the airline in its mission to connect people and places across the globe,” said Anbessie Yitbarek, vice president of Boeing Commercial Sales for Africa. “Our 50-year relationship with TAAG Angola Airlines has been built on trust and shared goals, and we look forward to many more years of successful collaboration and innovation together.”

TAAG Angola Airlines ordered the 787 Dreamliner in 2023 as a cornerstone of its modernisation strategy. Known for its cutting-edge technologies, fuel efficiency, and superior passenger experience, the 787 Dreamliner achieves up to 25% reductions in fuel consumption and CO2 emissions compared to the aircraft it replaces.

In tandem with the delivery of its first 787 Dreamliner, TAAG Angola Airlines is collaborating with Boeing to purchase CO2 emissions reductions related to blended Sustainable Aviation Fuel (SAF) via a book-and-claim process. Distributors will ensure that the SAF, available through these purchased certificates, reaches nearby airports for use by airlines and other carriers.

Boeing's Commercial Market Outlook estimates that Africa will require 1,170 new airplanes over the next 20 years. Boeing has been the backbone of Africa’s commercial aviation fleet for over 75 years, with more than 60 airlines operating nearly 500 Boeing aircraft across the continent, representing almost 70% of the regional airplane market.

In another news read: Lobito Atlantic Railway strengthens transport capacity

AD Ports expands operations at Luanda

AD Ports Group begins managing Luanda’s multipurpose terminal and logistics venture. (Image source: AD Ports)

AD Ports Group, a prominent player in global trade, logistics, and industry has began overseeing the long-term management and development of a major multipurpose terminal and an accompanying logistics venture in collaboration with local partners in Luanda, Angola, marking a significant step in the company’s expansion across sub-Saharan Africa

Partnering with Unicargas and Multiparques, AD Ports Group has commenced operations at the Noatum Ports Luanda Terminal, situated at Angola’s largest port. The Port of Luanda accounts for approximately 76% of the country’s container and general cargo traffic and offers vital maritime connections to neighbouring landlocked nations like the Democratic Republic of the Congo and Zambia.

AD Ports Group holds an 81% stake in the multipurpose terminal joint venture, while it owns 90% of the logistics venture with Unicargas.

The agreement, a 20-year concession with the Luanda Port Authority signed in April 2024, includes an investment commitment of around US$250mn by AD Ports Group through 2026 for the modernization of the terminal and the establishment of Noatum Unicargas Logistics. This joint venture will provide comprehensive logistics, transport, and freight forwarding services to regional, local, and international clients.

With the terminal now operational, Noatum Unicargas Logistics has also begun trading. The logistics business is making substantial investments in new trucks and systems and will be fully integrated into the Noatum Logistics global network, improving Angola’s connectivity to international markets and driving growth in the national economy.

Based on market demand, AD Ports Group’s total investment in this project could increase to USD 380 million over the duration of the concession, which may be extended by an additional decade.

In late 2024, AD Ports Group also secured two agreements with the Angolan government that provide substantial tax and financial advantages to its operating subsidiaries.

These investments are expected to create thousands of direct and indirect jobs, alongside a focus on training and skill development. The planned upgrades will also introduce environmentally sustainable technologies, ensuring lower carbon emissions.

Mohamed Eidha Al Menhali, regional CEO of AD Ports Group, commented, “With the planned upgrade of Luanda’s multipurpose port terminal, and the establishment of an integrated logistics and freight forwarding business leveraging our Group’s global network and reach, AD Ports Group is positioned to capture the growth in Angola’s container volumes, which are forecast to rise on average by 3.3% annually over the next decade. In line with the direction of our wise leadership, this significant investment by our Group and its partners will strengthen the country’s ties with the UAE and bring jobs and economic prosperity to the citizens of Angola.”

Ricardo Daniel Sandão Queirós Viegas de Abreu, minister of transport, Angola, stated, “The Port of Luanda is the main maritime gateway to Angola, a critical hub for regional trade and an economic lifeline for the region. Our strategic partnership with AD Ports Group, part of a broader effort involving multiple stakeholders, will transform the Port of Luanda into an efficient, high-performance multipurpose facility that transforms our logistical capabilities and drives economic growth across central West Africa. This collaboration is a significant milestone in our mission to modernise infrastructure and expand access to global trade, while delivering a prosperous future to Angola and its partners."

Tunisia to upgrade road infrastructure through AfDB support

The project is a continuation of the two earlier phases of the Road Infrastructure Modernisation Programme. (Image source: AfDB)

The African Development Bank (AfDB) has provided a loan to help Tunisia implement Phase 3 of the Road Infrastructure Modernisation Programme

The plan is to upgrade 188.9 km of classified roads in seven governorates across the country where transport constraints are restricting economic potential. AfDB has agreed to provide a loan of EU€80.16mn (approx. US$83mn) that will cover around 93% of the total cost of the project.

“Over the past 10 years, the African Development Bank has helped to renovate and modernise some 4,000 km of roads and 104 km of motorways, as well as creating various associated facilities in Tunisia,” explained Solomon Quaynor, bank vice president. “This work has greatly improved the level of service provided by the road network, making various routes more convenient by the installation of bridges, and facilitating access to regions and to their socio-economic potential.

“The Bank’s intervention will also benefit micro-enterprises focused on road maintenance, enabling infrastructure to be maintained over the long term, while at the same time creating market opportunities for entrepreneurs. Road upgrades will improve access to regions with high agricultural value-added, contributing to Tunisia’s food security, thanks to the development of value chains supported by the private sector.”

The project will run from 2025-2030 and will help to improve the quality of Tunisia’s vital road network to help create an efficient and sustainable transport system. With the transport sector accounting for around 5% of Tunisia’s GDP, this is considered vital for the country’s continued economic growth and will also support regional balance with neighbouring nations such as Algeria.

Bboxx offers affordable insurance for EV motorbike users

A Rwanda rider on a bboxx-branded bike giving the thumbs up.

Bboxx Protect offers exclusive coverage for Bboxx Ride customers, including protection against material damage, fire, third-party liabilities, life insurance, and total permanent disability. (Image source: Bboxx)

Bboxx, a data-driven super platform, has sought to offer comprehensive and affordable coverage for EV riders in Rwanda through the creation of Bboxx Protect

Created in collaboration with Radiant Yacu, the new product is a data-backed PAYGo (pay-as-you-go) model that enables pricing over 40% lower than the average market rate for comprehensive insurance. This provides an affordable option for motorbike owners relying on third-party coverage.

“With the launch of Bboxx Protect, we are doubling down on our commitment to serving existing markets while making affordable, comprehensive insurance accessible to motorbike riders who have long been underserved,” remarked Anthony Osijo, Bboxx CEO. “By reducing financial risk and offering greater security, we’re empowering thousands of customers to protect their livelihoods while contributing to a cleaner, more sustainable future.”

Rwanda’s insurance penetration currently stands at less than 1%, and so Bboxx Protect aims to address this issue by making insurance more accessible and affordable. Further, by being designed exclusively for electric motorcycles, the product provides a further incentive for riders to switch from traditional internal combustion engine bikes to their more environmentally friendly cousins.

The initial rollout will target 1,500 customers but potentially impact the 130,000 motorbike riders in the country who currently use simple third-party insurance.

“Through our strategic partnership with Bboxx, we are introducing a pioneering insurance solution that equips motorbike riders with the financial protection needed to confidently transition to electric vehicles,” commented Ovia K. Tuhairwe, Radiant Yacu Insurance CEO.

“By offering affordable, comprehensive coverage tailored to EVs, we are not only enabling a safer and greener future but also addressing Rwanda's low insurance penetration. This collaboration will make insurance more accessible to underserved communities, promoting financial inclusion and driving long-term economic growth across the country.”