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Rift Over Oil and Gas Discrimination Claims Evident in Institutional Boycott of London African Energy Summit

Source: APO


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The industry-wide boycott of the upcoming Africa Energies Summit will continue as the conference organizers Frontier Energy Network refuse to abandon their policy of discrimination. The Mozambique oil industry alongside petroleum ministers from the African Petroleum Producers Organization have already withdrawn from the conference, citing concerns over the treatment of Black professionals and broader local content issues. With Frontier – led by Daniel Davidson – refusing to address the company’s decision to not hire Black professionals and the continued exclusion of Black voices, the African Energy Chamber (AEC) (https://EnergyChamber.org) calls on the continued boycott of the event.

“Our narrative and voices matter. Any company that wants to operate in the continent with a mindset of excluding Africans will fail. That’s why Africans are staying away from Africa Energies Summit 2026 and I am pleased that the petroleum ministers I have talked to have supported us by staying away from being part of the anti-African meeting in London,” states NJ Ayuk, Executive Chairman, AEC. “We thank the leadership of African ministers in their fight against this unjust behavior.”

Frontier’s discrimination sends an important message to the industry: now, more than ever, we have to prioritize local content and continue fighting for equality, skills development and fair practices. Several large-scale projects across the continent have already embedded local content within their developments. In the Republic of Congo, Wing Wah committed to boosting local content through the development of a training center aimed at equipping Congolese with skills to access to new jobs across the industry. Namibia’s cabinet approved an Upstream Local Content Policy to ensure that oil operations are inclusive and Africa-focused.

The East African Crude Oil Pipeline – spearheaded by TotalEnergies and China National Offshore Oil Corporation – has taken a holistic approach to local content by prioritizing three pillars: employment and training, procurement of local goods and services and proposals for technology transfer and capacity building. Recent industry moves reflect the impact of local content in Africa, with African entrepreneurs buying IOC assets. Oando acquired operatorship of Angola’s Block KON 13. Renaissance Africa Energy Holdings acquired Shell’s Nigerian assets. These highlight a growing trend of IOC-trained entrepreneurs taking over projects.

Nowhere has local content been more visible than Africa’s emerging natural gas sector. As Equinor looks at developing the $42 billion Tanzania LNG project, the company is already integrating local content within the project dynamics. Engagement with the Petroleum Upstream Regulatory Authorities is underway to develop Local Content Plans, while efforts to prioritize local contractors, suppliers and employees are in motion. The Greater Tortue Ahemyim project in Senegal and Mauritania – operating since 2025 – also featured specific local content components. A national technician training program was established, over 300 local companies were contracted with 3,000 jobs created, while community investment and knowledge transfer formed the backbone of the project.

Mozambique is showing similar momentum. All of the country’s major LNG projects – Coral, Mozambique LNG and Rovuma LNG – are prioritizing local content. Mozambique LNG alone plans to spend $4.5 billion on services contracted by Mozambican suppliers. South Africa’s recently introduced Draft Upstream Petroleum Resources Development Regulations reinforce mandatory local participation, requiring operators to submit plans for skills development, employment equity and procurement. These moves signal a continental push towards inclusion and collaborative energy partnerships.

“Across all of these projects, the AEC has been there fighting. International oil companies such as ExxonMobil, Chevron, bp and Eni have been some of the greatest champions of local content and STEM in Africa. Imagine if, after all the work they have done, conference producers send a message that the industry has no place for someone because of their skin color?” states Ayuk, adding “Seismic companies should also do their part. They have a horrible track record of not hiring and promoting Africans. I hope they change.”

During times such as this, legacy producers such as Angola, Nigeria, the Republic of Congo and Libya must continue championing local content, setting a strong example for other countries. On the other hand, emerging and frontier markets such as Liberia, Namibia, The Gambia, Sierra Leone and more have a strategic opportunity to embed local content within their regulatory and energy systems from the start. They must avoid the mistake of starting on the wrong foot.

“We can’t stop our relentless support for the oil industry. We must be 100% pro oil and pro local content,” Ayuk concluded.

Distributed by APO Group on behalf of African Energy Chamber.

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Godongwana: R3 fuel levy relief to cushion South Africans  

Source: Government of South Africa

Godongwana: R3 fuel levy relief to cushion South Africans  

Finance Minister Enoch Godongwana says government’s decision to introduce a temporary R3 per litre fuel levy reduction is aimed at cushioning South Africans from what he describes as a significant economic shock driven by global oil price pressures. 

The R3 per litre reduction in the fuel levy announced today, is aimed at lessening the impact of severe fuel price hikes, that come into effect tomorrow. 

Speaking to the media on the sidelines of the South Africa Investment Conference (SAIC) on Tuesday, Godongwana said government had been closely monitoring rising tensions in the Middle East and their impact on global oil markets, which threatened to trigger steep fuel price hikes locally.

“We are aware that developments in the Middle East and their impact on oil prices are likely to affect our economy. We discussed different models and had to arrive at one that is affordable within the current fiscal environment,” the Minister said. 

Government ultimately settled on a R3 per litre relief for petrol and diesel adjustment through a temporary reduction in the general fuel levy.

The intervention comes into effect from 1 April and will run for one month, significantly softening the expected fuel price increase, which was projected to exceed R5 per litre for petrol and climb even higher for diesel.

This as the price of  all grades of petrol are set to rise by R3.06 a litre on Wednesday. The price of diesel will also rise by between R7.37 per litre and R7.51 per litre. 

READ | Petrol, diesel prices announced

While motorists will still feel the increase, Godongwana said the relief ensures the impact is less severe.

“This is still for April. We are going to assess what to do in May and June,” he said, noting that the current intervention alone will cost the country around R6 billion in foregone revenue.

The Minister acknowledged that diesel prices remain a major concern due to their broader impact on the economy.

“The diesel sector powers the economy, and changes in diesel prices affect everything – food, fertiliser and transport costs,” he said.

To address this, the Minister said an interdepartmental team is exploring additional interventions beyond fiscal measures to mitigate knock-on effects across key sectors. 

Despite the relief, Godongwana cautioned that government’s ability to sustain such measures is limited.

“This is a shock to the economy and a blow. Government can mitigate the effects for a specific period, but we cannot sustain it for longer without collapsing the tax system.”

He indicated that any continued relief would likely be limited to a maximum of three months, depending on global developments. 

The Minister also stressed that South Africa is not alone in facing these pressures, as countries worldwide grapple with rising energy costs linked to geopolitical instability.

“If the war continues, a number of countries throughout the world are facing similar challenges,” he said. 

On concerns about a potential recession, Godongwana said it was too early to raise alarm.

“Not at this stage,” he said, adding that inflation is expected to rise moderately by around 1.2 percentage points, remaining within the targeted range.

Government said the relief forms part of a broader, phased response that balances consumer protection with fiscal sustainability, with further support measures expected to be announced in the coming months. – SAnews.gov.za

 

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Kenya’s new infrastructure fund is long overdue – but design flaws could limit its impact

Source: The Conversation – Africa – By Odongo Kodongo, Associate professor, Finance, University of the Witwatersrand

Kenya is laying the ground for an infrastructure fund which will raise money for new projects – such as roads, energy and ports – through public-private partnerships, privatisation proceeds, and institutional capital. We asked Odongo Kodongo, a project finance expert, to unpack the potential risks and rewards of this strategy – and where it falls short.

Why now?

Kenya is weighed down by public debt that has built up rapidly over the last few years. The country’s public debt stood at about 12.30 trillion Kenya shillings (US$94.6 billion) as of December 2025, having risen from about 9.15 trillion shillings (US$70.3 billion) in December 2022. That is, public debt grew by over 34% in only three years.

Public debt as a percentage of GDP in 2022 was 67.9%. Thanks to an appreciating local currency, the debt to GDP ratio remained almost unchanged at 67.5% in 2025. For emerging and developing economies, a debt limit of no more than 64% of the country’s production (gross domestic product or GDP) is recommended.

In the financial year 2024/25, 71.2% of all government revenue went towards the servicing of debt. This left very little resources for other government activities including social programmes and capital projects such as infrastructure investments.

Kenya faces a massive infrastructure gap. Estimates show that the country needs to invest over US$12 billion annually in infrastructure until 2040 to meet its development goals. It doesn’t have this, resulting in an infrastructure financing gap of roughly US$2.1 billion annually.

However, due to the country’s excessive public debt, Kenyans must consider avenues other than tax revenues and public debt to pay for infrastructure. In this regard, the new fund is long overdue.

How will the fund work?

The National Infrastructure Fund Act establishes the fund as a corporate entity run by a board of directors. The board includes state officers and independent directors, recruited in accordance with the legislation governing state owned enterprises.

The treasury secretary is expected to formulate the act’s supporting regulations and guidelines. These include the fund’s investment policy, government support mechanisms, and standards and procedures.

However, the fund’s proposed legislation appears to indicate that its major responsibilities will include:

  • identifying and setting priorities for public infrastructure investments

  • conducting feasibility studies and developing bankable proposals

  • identifying an optimal mix of financing options for infrastructure projects

  • negotiating and closing financing deals with infrastructure financiers

  • overseeing implemented projects to manage risks and minimise time and cost overruns

  • audit to ensure past experiences inform project planning.

What are the potential risks and rewards?

The potential benefits of an infrastructure fund include greater infrastructure endowment, its potential cascading effects on development, and reduced reliance on the public purse.

But the success of such a fund hinges on many things. First, the fund’s design as a state owned enterprise creates the expectation that it will have autonomy to make its decisions without political interference and executive meddling.

However, some provisions of the act cast doubt that this will be possible. For example, the power to appoint independent directors is vested in the treasury cabinet secretary. This is a red flag. Given that the same cabinet secretary is a member of that board, independent board members may feel under pressure to agree with their appointing authority, making them effectively nonindependent.

Second, the fund must incentivise superior performance. Part III of the act recognises this need. The treasury cabinet secretary can set the board’s performance targets and evaluate its performance. But the cabinet secretary is a member of the same board and cannot be a fair referee.

Third, the act identifies the fund’s audited financial statements as a basis for performance evaluation. While this conventional approach appears sound, the structure of a more appropriate incentive system should focus on the objectives for which the fund is being set up. That is, performance should be based on:

  • the quantity of financial resources mobilised, especially from private sources

  • the amount of mobilised resources actually invested in infrastructure projects

  • efficiency in the management of projects

  • existence of feedback loops at various points between project origination and termination to support monitoring and corrective actions when necessary

  • capacity development and skills transfer.

The last point is important, given that human capital constraints have limited the region’s capacity to generate a pipeline of bankable projects, rendering its infrastructure sectors unattractive to private sector capital.

The fourth major weakness is the significance attached to financing derived from the disposal of government assets. Given that these assets are in short supply, monies from such sales must not be regarded as a primary source of financing.

Indeed, while the motivation for setting up the fund is to diversify funding sources and increase fiscal headroom, the act does not say much about private sector involvement.

In contrast, a similar fund created in South Africa in 2020 is specifically mandated to employ blended finance instruments. This involves using concessional finance (such as borrowing from development banks) to make an investment less risky to encourage private sector participation.

Finally, there is an ominous clause in the act that empowers the treasury secretary to issue government support in the form of letters of credit, guarantees and firm commitments to support projects. Because some of these mechanisms constitute public debt, this clause contradicts another clause that motivates the fund’s establishment on the grounds of “reduction in the reliance on public debt”.

What’s missing from the strategy, what needs fixing?

First, the implementation guidelines to be developed by the cabinet secretary should clearly spell out the fund’s goals. These include:

  • specific capital mobilisation targets: what is the volume of financial resources expected to be mobilised?

  • infrastructure investment targets: what are the immediate, medium and longer term infrastructure investment goals? These would be consistent with the country’s development plans, which often have specific timelines, such as year 2030.

Second, the underpinning law links performance measurement to the fund’s ability to “make a return commensurate with its level of investment”. This “economic/financial” view of performance ignores the social return potential of infrastructure investments.

For example, investing in hospitals and schools creates a healthier and higher quality manpower with greater longevity (social returns) and receptiveness to new knowledge. This increases labour productivity (economic returns).

Third, one of the more important beneficial spillovers of the fund’s operations is likely to be the development of the country’s capital markets. The fund could access capital from financial institutions such as pension and wealth funds, and diaspora resources, through innovative design of financial instruments.

The increased diversity of financial instruments and larger pool of capital could deepen the country’s capital markets. Thus, the act ought to have included capital markets development as one of the fund’s objectives.

At the operational level, several things need fixing. For example, the government must provide “seed” capital to support the fund’s initial activities. The amount of the seed capital, the justification for it, and its source(s) must be anchored in law.

Further, given the highlighted flaws of the cabinet secretary’s dual roles as a member of the board and its oversight agent, the cabinet secretary should be made an ex-officio member by law.

Finally, all proceeds, if any, from the sale of public assets in future should be ring-fenced to the fund. This, too, should be anchored in law.

– Kenya’s new infrastructure fund is long overdue – but design flaws could limit its impact
– https://theconversation.com/kenyas-new-infrastructure-fund-is-long-overdue-but-design-flaws-could-limit-its-impact-279254

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Afreximbank souscrit 2,5 milliards de dollars dans le cadre d’un prêt syndiqué à terme de 4 milliards de dollars destiné à Dangote Petroleum Refinery and Petrochemicals Entreprise en zone franche (FZE)

Source: Africa Press Organisation – French

La Banque Africaine d’Import-Export (Afreximbank) (www.Afreximbank.com) a le plaisir d’annoncer qu’elle a souscrit 2,5 milliards de dollars US dans le cadre d’un prêt syndiqué senior à terme de 4 milliards de dollars US en faveur de Dangote Petroleum Refinery and Petrochemicals FZE (DPRP).

Afreximbank et Access Bank ont été désignées co-arrangeurs principaux mandatés pour cette facilité de crédit d’une durée de cinq ans, destinée à consolider les financements existants, à optimiser la structure du capital et à s’aligner sur le statut opérationnel de la raffinerie et son plan de croissance à long terme.

Cette transaction marque une étape importante pour DPRP, le plus grand complexe de raffinage et de pétrochimie d’Afrique, d’une capacité de 650 000 barils par jour. Cette facilité renforcera la flexibilité du bilan, consolidera la situation financière de l’entreprise et soutiendra la raffinerie en tant que fournisseur stratégique de produits pétroliers raffinés pour l’Afrique et les marchés mondiaux.

La participation d’Afreximbank d’un montant de 2,5 milliards de dollars US, représente la part la plus importante du consortium. Elle souligne également le rôle de premier plan joué par la Banque dans la mobilisation de capitaux pour soutenir l’industrialisation de l’Afrique, favoriser la substitution des importations, promouvoir le commerce intra-africain des produits pétroliers raffinés et renforcer la sécurité énergétique.

Depuis le démarrage des activités de raffinage en février 2024, Afreximbank a soutenu la raffinerie en lui accordant une facilité de fonds de roulement d’un milliard de dollars américains, tout en intervenant en tant que conseiller financier dans le cadre de l’initiative « Naira-for-Crude », qui facilite l’achat de pétrole brut et la vente de produits raffinés en monnaie locale, éliminant ainsi la dépendance vis-à-vis des devises étrangères.

Lors d’une réunion stratégique entre le conseil d’administration d’Afreximbank et la direction du groupe Dangote au Caire, en Égypte, Dr George Elombi, Président d’Afreximbank et du Conseil d’administration de la Banque a déclaré :

« Nous sommes extrêmement fiers d’être le premier bailleur de fonds du groupe Dangote. Nous agissons ainsi avant tout parce que Dangote est une entreprise africaine. Lorsque nous investissons en nous-mêmes, nous faisons plus que créer des emplois et de la richesse ou augmenter les recettes publiques ; nous construisons un avenir sûr et résilient pour notre continent. C’est pourquoi nous sommes heureux d’avoir investi environ 15 milliards de dollars US dans le Groupe Dangote depuis 2015 ».

Dr Elombi a souligné qu’il n’y avait rien de plus gratifiant que d’investir dans les entreprises africaines, insistant sur le fait que leur autonomisation était nécessaire pour l’autosuffisance du continent.  Il a déclaré : « Afreximbank et son conseil d’administration sont prêts à soutenir la réalisation des aspirations du Groupe Dangote, car lorsque nous construirons nos institutions et apporterons le soutien nécessaire à la croissance, nous n’aurons plus à chercher ailleurs la bienveillance ou le salut en période difficile ».

Cette transaction témoigne avec force de l’engagement d’Afreximbank à soutenir des projets industriels transformateurs et locaux qui redessinent l’avenir économique de l’Afrique. La raffinerie Dangote est un symbole fort de ce que l’ambition, les capitaux et l’exécution africaine peuvent accomplir à grande échelle. Au-delà de l’augmentation de la capacité de raffinage, elle renforce les fondements de la sécurité énergétique de l’Afrique, réduit la dépendance vis-à-vis des importations et ouvre de nouvelles perspectives pour le commerce intra-africain et le développement industriel. Afreximbank est fière de s’associer à cette réalisation historique et de continuer à soutenir le continent dans sa marche vers une plus grande autosuffisance, une plus grande résilience et une plus grande prospérité. »

M. Alhaji Aliko Dangote, Président etDirecteur général de Dangote Industries Limited, a ajouté :

« Ce financement marque une étape importante dans le renforcement des fondements financiers de Dangote Petroleum Refinery & Petrochemicals et positionne l’entreprise pour la prochaine phase de sa croissance. Nous nous réjouissons du soutien continu d’Afreximbank et de sa confiance en notre vision visant à construire une capacité industrielle de classe mondiale au service du Nigeria, de l’Afrique et des marchés mondiaux ».

Le prêt à terme syndiqué a suscité un vif intérêt de la part d’un consortium d’institutions financières africaines et internationales, reflétant la confiance continue dans Dangote Petroleum Refinery en tant qu’actif industriel transformateur et dans le programme plus large d’industrialisation de l’Afrique.

Distribué par APO Group pour Afreximbank.

Contact Presse :
Vincent Musumba
Responsable des communications et de la gestion événementielle (Relations presse)
Courriel : press@afreximbank.com  

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À propos d’Afreximbank :
La Banque Africaine d’Import-Export (Afreximbank) est une institution financière multilatérale panafricaine dédiée au financement et à la promotion du commerce intra et extra-africain. Depuis 30 ans, Afreximbank déploie des structures innovantes pour fournir des solutions de financement qui facilitent la transformation de la structure du commerce africain et accélèrent l’industrialisation et le commerce intrarégional, soutenant ainsi l’expansion économique en Afrique. Fervente défenseur de l’Accord sur la Zone de Libre-Échange Continentale Africaine (ZLECAf), Afreximbank a lancé les le Système panafricain de paiement et de règlement (PAPSS) qui a été adopté par l’Union africaine (UA) comme la plateforme de paiement et de règlement devant appuyer la mise en œuvre de la ZLECAf. En collaboration avec le Secrétariat de la ZLECAf et l’UA, la Banque a mis en place un Fonds d’ajustement de 10 milliards de dollars US pour aider les pays à participer de manière effective à la ZLECAf. À la fin de décembre 2024, le total des actifs et des garanties de la Banque s’élevait à environ 40,1 milliards de dollars US et les fonds de ses actionnaires s’établissaient à 7,2 milliards de dollars US. Afreximbank est notée AAA par China Chengxin International Credit Rating Co., Ltd (CCXI), A par GCR, A- par Japan Credit Rating Agency (JCR) Moody’s (Baa2). Au fil des ans, Afreximbank est devenue un groupe constitué de la Banque, de sa filiale de financement à impact appelée Fonds de développement des exportations en Afrique (FEDA), et de sa filiale de gestion d’assurance, AfrexInsure, (les trois entités forment « le Groupe »). La Banque a son siège social au Caire, en Égypte.

Pour de plus amples informations, veuillez visiter www.Afreximbank.com

A propos de Dangote :
Dangote Industries Limited est l’un des principaux conglomérats industriels d’Afrique, diversifié et entièrement intégré, avec des opérations dynamiques au Nigeria et dans plusieurs pays du continent. Le Groupe est actif dans de nombreux secteurs, notamment le ciment, le sucre, le sel, les condiments, l’emballage, l’énergie, les opérations portuaires, l’automobile, les engrais, le raffinage du pétrole et la pétrochimie.

L’activité principale du Groupe, qui a démarré en 1978, consiste à fournir des produits et services locaux à forte valeur ajoutée répondant aux besoins fondamentaux de la population. Grâce à la construction et à l’exploitation d’installations de fabrication à grande échelle au Nigeria et dans 10 autres pays africains. Le Groupe Dangote vise à renforcer les capacités locales de production, à générer de l’emploi, à prévenir la fuite des capitaux et à offrir des biens produits localement à la population.

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O Afreximbank concede 2,5 mil milhões de USD num empréstimo a prazo sindicado de 4 mil milhões de USD à Dangote Petroleum Refinery and Petrochemicals Empresa da Zona Franca (FZE)

Source: Africa Press Organisation – Portuguese –

O Banco Africano de Exportação e Importação (Afreximbank) (www.Afreximbank.com) tem o prazer de anunciar que subscreveu 2,5 mil milhões de USD do empréstimo a prazo sindicado sénior no valor de 4 mil milhões de USD a favor da Dangote Petroleum Refinery and Petrochemicals FZE (DPRP).

O Afreximbank e o Access Bank foram nomeados co-coordenadores principais para a linha de crédito de cinco anos, com o objectivo de consolidar o financiamento existente, optimizar a sua estrutura de capital e alinhá-la com o estado operacional da refinaria e o seu plano de crescimento a longo prazo.

A transacção representa um marco importante para a DPRP, o maior complexo de refinação e petroquímica de África, com uma capacidade de 650 000 barris por dia. A linha de crédito irá aumentar a flexibilidade do balanço, reforçar a posição financeira da empresa e apoiar a refinaria enquanto fornecedor estratégico de produtos petrolíferos refinados para África e para o mercado global.

A participação do Afreximbank no valor de 2,5 mil milhões de USD é a maior quota no consórcio e sublinha a liderança do Banco na mobilização de capital para apoiar a industrialização de África, impulsionar a substituição das importações, promover o comércio intra-africano de produtos petrolíferos refinados e reforçar a segurança energética.

Desde o início das operações de refinação em Fevereiro de 2024, o Afreximbank tem apoiado a refinaria com uma linha de crédito de capital de exploração no valor de mil milhões de USD, além de desempenhar o papel de Consultor Financeiro na iniciativa “Naira-for-Crude”, que facilita a compra de petróleo bruto e a venda de produtos refinados em moeda local, eliminando a dependência de moeda estrangeira.

Ao comentar sobre este desenvolvimento durante uma sessão de diá. estratégico entre o Conselho de Administração do Afreximbank e a liderança do Grupo Dangote, em Cairo, Egipto, o Dr. George Elombi, Presidente e Presidente do Conselho de Administração do Afreximbank, afirmou:

“Temos um enorme orgulho em ser o maior fornecedor individual de financiamento ao Grupo Dangote. Fazemo-lo, acima de tudo, porque o Grupo Dangote é africano. Quando investimos em nós próprios, fazemos mais do que criar empregos e riqueza ou aumentar as receitas do Estado; construímos um futuro seguro e resiliente para o nosso continente. É por essa razão que estamos satisfeitos por ter investido cerca de 15 mil milhões de USD no Grupo Dangote desde 2015.

O Dr. Elombi sublinhou que não há nada mais gratificante do que investir em empresas africanas, salientando que o seu empoderamento é imperativo para a auto-sustentabilidade do continente.  Acrescentou ainda que “o Afreximbank e o seu Conselho de Administração estão prontos para apoiar a concretização das aspirações do Grupo Dangote, porque quando construímos as nossas instituições e prestamos o apoio necessário ao crescimento, deixaremos de ter de procurar noutro lado benevolência ou salvação em tempos difíceis.”

Esta transacção constitui uma forte demonstração do compromisso do Afreximbank em apoiar projectos industriais transformadores e locais que estão a remodelar o futuro económico de África. A Refinaria Dangote surge como um símbolo ousado do que a ambição africana, o capital africano e a execução africana podem alcançar em grande escala. Para além de expandir a capacidade de refinação, está a reforçar as bases da segurança energética de África, reduzindo a dependência das importações e abrindo novas fronteiras para o comércio intra-africano e o desenvolvimento industrial. O Afreximbank orgulha-se de acompanhar esta conquista histórica e de continuar a apoiar a jornada do continente rumo a uma maior auto-suficiência, resiliência e prosperidade.”

O Sr. Aliko Dangote, Presidente/Director Executivo da Dangote Industries Limited, por sua vez, afirmou:

“Este financiamento representa um passo importante no reforço das bases financeiras da Dangote Petroleum Refinery & Petrochemicals e posiciona a empresa para a próxima fase do seu crescimento. Agradecemos o apoio contínuo e a confiança do Afreximbank na nossa visão de construir uma capacidade industrial de classe mundial que sirva a Nigéria, África e os mercados globais.”

O empréstimo a prazo sindicado suscitou grande interesse por parte de um consórcio de instituições financeiras africanas e internacionais, reflectindo a confiança contínua na Dangote Petroleum Refinery como um activo industrial transformador e na agenda mais ampla de industrialização de África.

Distribuído pelo Grupo APO para Afreximbank.

Contacto para a Imprensa:
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Gestor de Comunicações e Eventos (Relações com a Imprensa)
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Sobre o Afreximbank:
O Banco Africano de Exportação e Importação (Afreximbank) é uma instituição financeira multilateral pan-africana com mandato para financiar e promover o comércio intra e extra-africano. Há mais de 30 anos que o Banco utiliza estruturas inovadoras para oferecer soluções de financiamento que apoiam a transformação da estrutura do comércio africano, acelerando a industrialização e o comércio intra-regional, impulsionando assim a expansão económica em África. Apoiante firme do Acordo de Comércio Livre Continental Africano (ACLCA), o Afreximbank lançou um Sistema Pan-Africano de Pagamento e Liquidação (PAPSS) que foi adoptado pela União Africana (UA) como plataforma de pagamento e liquidação para sustentar a implementação da ZCLCA. Em colaboração com o Secretariado da ZCLCA e a UA, o Banco criou um Fundo de Ajustamento de 10 mil milhões de dólares para apoiar os países que participam de forma efectiva na ZCLCA. No final de Dezembro de 2024, o total de activos e contingências do Afreximbank ascendia a mais de 40,1 mil milhões de dólares e os seus fundos de accionistas a 7,2 mil milhões de dólares. O Afreximbank tem notações de grau de investimento atribuídas pela China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), pela GCR (A), pela Japan Credit Rating Agency (JCR) (A-) e pela Moody’s (Baa2). O Afreximbank evoluiu para uma entidade de grupo que inclui o Banco, a sua subsidiária de fundo de impacto de acções, denominada Fundo para o Desenvolvimento das Exportações em África (FEDA), e a sua subsidiária de gestão de seguros, AfrexInsure (em conjunto, “o Grupo”). O Banco tem a sua sede em Cairo, Egipto.

Para mais informações, visite: www.Afreximbank.com.

Sobre a Dangote:
A Dangote Industries Limited é um dos principais conglomerados industriais diversificados e totalmente integrados de África, com actividades dinâmicas na Nigéria e em toda África em vários sectores, incluindo cimento, açúcar, sal, condimentos, embalagens, energia, operações portuárias, automóvel, fertilizantes, refinação de petróleo e petroquímica.

O foco principal do Grupo, que iniciou as suas operações em 1978, é fornecer produtos e serviços locais de valor acrescentado que satisfaçam as “necessidades básicas” da população. Através da construção e operação de instalações de fabrico em grande escala na Nigéria e em 10 outros países africanos. O Grupo Dangote está empenhado em reforçar a capacidade de fabrico local para gerar emprego, evitar a fuga de capitais e fornecer bens produzidos localmente à população.

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Afreximbank Underwrites US$2.5-billion in a US$4-Billion Syndicated Term Loan for Dangote Petroleum Refinery and Petrochemicals Free Zone Enterprise (FZE)

Source: APO – Report:

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) is pleased to announce that it has underwritten US$2.5 billion in the US$4-billion senior syndicated term loan in favour of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP).

Afreximbank and Access Bank were appointed co-Mandated Lead Arrangers for the five-year facility to consolidate existing financing, optimise its capital structure and align with the refinery’s operational status and long-term growth plan.

The transaction marks a major milestone for DPRP, Africa’s largest refinery and petrochemical complex with a capacity of 650,000 barrels per day. The facility will enhance balance sheet flexibility, strengthen the company’s financial position, and support the refinery as a strategic supplier of refined petroleum products to Africa and the global market.

Afreximbank’s participation of US$2.5 billion is the largest share in the syndicate and underscores the Bank’s leadership in mobilising capital to support Africa’s industrialisation, advancing import substitution, promoting intra-African trade in refined petroleum products, and strengthening energy security.

Since the commencement of refining operations in February 2024, Afreximbank has supported the refinery with a US$ 1 billion working capital facility, as well as acting as Financial Adviser on the Naira-for-Crude initiative  which is facilitating the purchase of crude oil and sale of refined product in local currency eliminating the dependence on foreign currency.

Commenting on the development during a strategy engagement session between the Board of Directors of Afreximbank and the leadership of Dangote Group in Cairo, Egypt, Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank, said:

“We take immense pride in being the single largest provider of financing to the Dangote Group. We do so primarily because Dangote is African. When we invest in ourselves, we do more than create jobs and wealth or expand government revenues; we build a secure and resilient future for our continent. This is why we are pleased to have invested about US$15 billion in the Dangote Group since 2015.

Dr. Elombi stressed that there was nothing more rewarding than investing in African enterprises, emphasising that empowering them was imperative for the continent’s self-sustainability.  He noted, “Afreximbank and its Board of Directors stand ready to support the realisation of Dangote Group’s aspirations because when we build our institutions and provide the requisite support to grow, we will no longer have to look elsewhere for benevolence or salvation in difficult times.”

This transaction makes a powerful statement about Afreximbank’s commitment to backing transformative and indigenous industrial projects that are reshaping Africa’s economic future. The Dangote Refinery stands as a bold symbol of what African ambition, African capital and African execution can achieve at scale. Beyond expanding refining capacity, it is strengthening the foundations of Africa’s energy security, reducing dependence on imports and opening new frontiers for intra-African trade and industrial development. Afreximbank is proud to stand alongside this historic achievement and to continue supporting the continent’s journey towards greater self-sufficiency, resilience and prosperity.”

Mr. Aliko Dangote, President/Chief Executive, Dangote Industries Limited, on his part, said:

“This financing marks an important step in strengthening the financial foundation of Dangote Petroleum Refinery & Petrochemicals and positions the business for the next phase of its growth. We appreciate Afreximbank’s continued support and confidence in our vision to build world-class industrial capacity that serves Nigeria, Africa and global markets.”

The syndicated term loan attracted strong interest from a consortium of African and international financial institutions, reflecting continued confidence in the Dangote Petroleum Refinery as a transformative industrial asset and in Africa’s broader industrialisation agenda.

– on behalf of Afreximbank.

Media Contact:
Vincent Musumba
Communications and Events Manager (Media Relations)
Email: press@afreximbank.com  

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About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), GCR (A), Japan Credit Rating Agency (JCR) (A-), and. Moody’s (Baa2). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

For more information, visit: www.Afreximbank.com

About Dangote:
Dangote Industries Limited is one of Africa’s leading diversified and fully integrated industrial conglomerates with vibrant operations in Nigeria and across Africa in several sectors including cement, sugar, salt, condiments, packaging, energy, port operations, automotive, fertiliser, petroleum refining and petrochemicals.

The core business focus of the Group, which started operations in 1978, is to provide local, value-added products and services that meet the ‘basic needs’ of the populace. Through the construction and operation of large-scale manufacturing facilities in Nigeria and across 10 other African countries. Dangote Group is focused on building local manufacturing capacity to generate employment, prevent capital flight and provide locally produced goods for the people.

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Government welcomes gains in employment growth

Source: Government of South Africa

Government welcomes gains in employment growth

Government has welcomed the latest Quarterly Employment Statistics (QES) for the fourth quarter of 2025, which reflect a modest increase in total employment and continued growth in gross earnings across the economy. 

Acting Government Spokesperson Michael Currin said the latest QES results reinforce the view that South Africa’s economy has proven itself to be remarkably resilient, despite persistent domestic and global challenges.

He said the quarter-on-quarter rise of 18 000 jobs, driven by gains in key sectors such as trade and business services, alongside a notable increase in wages and bonuses, signals ongoing recovery in economic activity.

“The increase in total employment during the quarter, driven mainly by gains in trade and business services, reflects renewed activity in important areas of the economy. Growth in both full-time and part-time employment further signals improving labour market conditions and sustained demand for labour, particularly in service-oriented industries,” Currin said in a statement on Tuesday.

Government also noted the continued growth in gross earnings, basic salaries and bonuses paid to employees, noting the increases provide a welcome support to household incomes and contribute positively to overall economic momentum. 

Currin reiterated government’s commitment to targeted support measures, structural reforms and investment initiatives, aimed at revitalising affected industries and promoting inclusive growth.

“These encouraging developments coincide with South Africa hosting the sixth South Africa Investment Conference, providing a timely platform to showcase the country’s economic resilience, and improving labour market conditions to global investors. 

“The positive trajectory reflected in the QES strengthens investor confidence and reinforces South Africa’s position as a competitive and attractive investment destination,” Currin said. 

Released on Tuesday, by Statistics South Africa, the QES recorded an increase in employment in the fourth quarter of 2025, with total jobs rising by 18 000 or 0.2% to 10.55 million in December, from 10.53 million in September.

READ | Employment edges up in Q4 2025
The quarterly gain was driven primarily by growth in the trade sector, which added 37 000 jobs, and business services, which increased by 17 000. 

Government, in collaboration with social partners, also committed to continue to build on these positive trends by advancing policies that support job creation, economic recovery and sustainable growth. – SAnews.gov.za

 

GabiK

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Opening remarks by President Cyril Ramaphosa at the 2026 South Africa Investment Conference (SAIC), Sandton International Convention Center

Source: President of South Africa –

Programme Directors,
Deputy President of the Republic of South Africa, Mr.Shipokosa Paulus Mashatile,
Minister of Trade, Industry and Competition of the Republic of South Africa, Mr Parks Tau,
Ministers and Deputy Ministers,
Premiers of the provinces,
Secretary-General of the African Continental Free Trade Area Secretariat, Mr. Wamkele Mene,
Mayor of the City of Johannesburg, Cllr Dada Morero
Ambassadors and High Commissioners,
Business leaders,
Representative from labour, civil society and political formations,
Guests,
Ladies and Gentlemen,

Good morning, 

Welcome to South Africa and to Gauteng, the Place of Gold – our country’s largest economic hub.

A hundred and forty years ago, the discovery of gold beneath the soil here set in motion an industrial boom that would shape South Africa’s economic destiny.

Today, Gauteng is a financial and industrial powerhouse that contributes the largest share to our national GDP. 

The City of Johannesburg is Africa’s financial capital and home to Johannesburg Stock Exchange, the largest and most advanced bourse on the continent.

The story of Johannesburg, a city founded on the promise of opportunity is a reflection of South Africa itself. 

We are a young nation, just thirty-two years old. The Dawn of democracy in 1994 secured our freedom, but it also unleashed our potential. It set us on an irreversible path towards progress and shared prosperity.

Today South Africa is the largest, most industrialised, open and diverse economies on the African continent. 

Our economy is dynamic, enterprising; and is finely calibrated for growth and powered by innovation. 

We have an economy that has proven itself to be remarkably resilient: it weathered the transition from apartheid, the global financial crisis, years of state capture, a debilitating energy crisis and the COVID-19 pandemic.

Even amidst these strong headwinds the South African economy has maintained core financial and institutional stability. 

This year’s South Africa Investment Conference takes place against a backdrop of growth and recovery. 

Investment conferences such as this are an opportunity for us to showcase the attractiveness of investment opportunities in our country to domestic and international investors. By connecting investors with local opportunities, we are able to attract foreign direct investment (FDI). They also facilitate strong partnerships by bringing together governments, business, banks and development finance institutions.

Under the Government of National Unity formed after the 2024 elections, we have recorded four consecutive quarters of growth into early 2026 and our economy is creating more jobs.Inflation is stable and is converging towards our 3 per cent target. Our sovereign rating has been upgraded, and last year we were removed from the Financial Action Task Force (FATF) grey list. 

Last year, South Africa hosted the first summit of the G20 on African soil. Our G20 Presidency elevated South Africa’s global profile and deepened bilateral relationships that are today reflected in investment commitments from fifteen source markets across five continents.

We are meeting at a time of uncertainty for the global economy. Geopolitical fragmentation, supply chain disruptions from conflicts and wars and trade tensions are radically impacting global capital flows.

In such conditions, South Africa presents a favourable proposition as a resilient, credible and reform-oriented investment destination with strong fundamentals. 

Your presence here today signals that as investors you see what we see: real and enduring potential, long-term value and untapped opportunity.

Today we have with us more than 1 000 delegates from more than 50 countries who believe in South Africa’s potential and see this as a favourable place to invest and do business. You are here because you want to be part of our growth story.

Between 2018 and 2023 having set a target of attracting R1 trillion in investments, we attracted R1,5 trillion in credible, verified investment commitments in energy, telecoms, infrastructure, property, mining, advanced manufacturing and across a range of sectors. This proved that South Africa is an investable market and ready for business. 

Our investment strategy is anchored in sectors that will drive growth and create jobs at scale, including manufacturing, mining beneficiation, digital infrastructure, agriculture, and green industrialisation.

This sixth South Africa Investment Conference is being convened under the 3 D’s framework, namely Decarbonisation, Digitisation and Diversification, with the Ease of Doing Business being a cross-cutting theme. 

We know that as investors you reward execution, not just commitment.

You are here because you value ambition. 

As investors, you are looking to investment destinations that have strong fundamentals, that are resilient, credible, and reform-oriented – and the South African economy meets this criteria.

This sixth South Africa Investment conference stands at the crossroads of opportunity and ambition, ready to turn pledges into projects on the ground.

The shift in our economic trajectory that we are witnessing now is the result of deliberate, sustained structural reform being driven by Operation Vulindlela.

Operation Vulindlela, which means “to open the way” in isiZulu, is a joint initiative of the Presidency and the National Treasury working together with other government departments to drive the implementation of far-reaching economic reforms for more rapid growth. 

Its mandate is simple: to reduce the cost and risk of investing in South Africa. Not through speeches but through measurable implementation.

The twin pillars of structural reform and policy responsiveness have enabled us to bring about far-ranging changes that are supporting our improved economic performance. 

A key priority for Operation Vulindlela from the outset was the crucial building block of visa reform to attract skills and grow the tourism sector.We know that investors aren’t just deploying capital, you need to establish a physical presence without undue bureaucratic delays. This is particularly critical for multinational firms that require seamless movement across borders.

We have implemented reforms to the visa regime to attract new skills and promote tourism, creating more flexible pathways for skilled immigrants through a points-based system and introducing a Trusted Employer Scheme to provide a fast-track visa process for major investors.

The electricity sector has undergone the most significant transformation since the advent of democracy. We have restructured the national power utility Eskom, established a National Transmission Company as an independent grid operator, and created the transparent, rules–based framework for grid access that private investors require. Through the Energy Action Plan that I announced in 2022, we have brought an end to load shedding and ensured a reliable supply of electricity. This is essential to allow businesses to operate and make decisions to invest.

Regulatory reforms in the electricity sector have already unlocked a significant and growing pipeline of investment, with more than 220 GW of renewable energy projects in development and 36 GW already in the grid connection process. 

Over the next five years, we will add massive new solar, wind and battery storage capacity to transition our economy towards cheap, green energy sources at scale. We are now moving rapidly to establish a competitive wholesale electricity market and to complete the unbundling of Eskom, through the establishment of a fully independent transmission operator. 

At the same time, we are moving to enable private investment in expanding our transmission network through Independent Transmission Projects for the first time. Transitioning to a low-carbon, climate resilient economy and society remains a priority, and is in line with our international climate commitments as well our ambitious Nationally Determined Contribution (NDC) to combat climate change.

Decarbonisation will create new industries, new jobs, and new opportunities in green hydrogen, battery storage, electric vehicle manufacturing and in the manufacture of components and infrastructure that a decarbonising world urgently needs. 

The R29 billion in confirmed renewable energy investment today is a vote of confidence in our rapidly transforming energy sector.

South Africa’s abundant mineral reserves make us uniquely placed to leverage the growing global demand for critical minerals needed for clean energy, for hybrid, electric and new energy vehicles, technological applications and by other heavy industries.

As the producer of more than 70 per cent of the world’s platinum group metals (PGM’s) and with some of the world’s largest manganese and chrome reserves, we are well-positioned as strategic partners in this rapidly growing sector.

We have been firm that the energy transition must be just and that it should leave no-one behind. Our Just Energy Transition Investment Plan 2023-2027 is a blueprint for decarbonising our economy and achieving energy security, whilst at the same time supporting affected communities and industries. 

Efficiency in the network industries is the backbone of a competitive economy.

As we have done with the electricity sector, we are driving a series of reforms in the logistics sector to build world-class rail network and ports that are efficient, competitive and support our exports.

The cornerstone of our reform programme is the National Rail Policy of 2022, complemented by the National Freight Logistics Roadmap of 2023. 
 
These policies enable private investment in port and rail operations. 
 
Last year we also signed a 25–year concession for the Durban Container Terminal Pier 2, representing R11 billion in private investment in one of South Africa’s most critical logistics nodes. 
 
A transparent and effective regime for third–party access to the freight rail network is now in place. 

Forty–one freight rail slots have been allocated to private train operating companies, and we expect the first private operator to commence operations in April 2027. By ending inefficient monopolies and introducing competition, we will reduce the cost of electricity and transport over time, enabling our manufacturing, mining, agriculture and other industries to thrive and compete.

Digital transformation holds significant potential for economic growth and investment.South Africa already has world–class digital infrastructure, near-universal internet access and smartphone penetration, and a regulatory environment that enables innovation. 

we are implementing reforms that will create a digitally enabled economy and position South Africa as a leading hub for digital and financial services.

In these ways, we are positioning South Africa to become a major player in the economy of the future, combining the lowest-cost solar and wind power in the world with advanced digital infrastructure and a skilled workforce that can compete at a global level.
 
The water sector continues to be strategic focus under the structural reform agenda. 

Reliable water access, governed by an equitable, transparent regulatory regime is key to business stability, and we have put in place a set of interventions to transform the provision and management of water services across the country.

We are prioritising reforms at the provincial and local government levels in both the immediate and long term that will create a sustainable and well-functioning water system.

First, we are establishing professionally run water utilities in all eight metros, with water revenues ring-fenced and invested back into maintaining and expanding water infrastructure. 

Second, we are establishing a robust regulatory framework to ensure that water service providers perform their functions effectively, and face consequences where they do not. 

We have embarked on a massive water infrastructure build programme including dam construction, distribution infrastructure upgrades, bulk water expansion and desalination. One such project is Phase 2 of the Lesotho 

Highlands Water Project that is targeted for completion between 2028 and 2030. These projects will be overseen by a new National Water Resources Infrastructure Agency. The water sector is ripe for investment, and we have set up a dedicated Water Partnerships Office to facilitate private sector participation in areas such as reducing non-revenue water, investing in wastewater treatment, water desalination and reuse, with more than R50 billion in projects already in development.Our structural reform agenda has laid the foundations—now we are harnessing its momentum.

We are embarking on the largest and most ambitious cycle of infrastructure investment in our country’s history. 
Infrastructure is the flywheel that propels growth. It boosts productivity and trade and reduces the cost of doing business. It creates immediate and meaningful employment – at scale. 

With this unprecedented investment, we are kickstarting the cycle. 

Over the next three years the state has budgeted for will be investing more than R1 trillion or approximately USD 58 billion in modernising and expanding public infrastructure across South Africa. 

This includes R940 billion in planned infrastructure spending, of which R375 billion has been allocated to state-owned companies to support maintenance, upgrades and expansion.
In addition to this, state-owned enterprises have allocated for major infrastructure projects over the medium term.
 
The South African National Roads Agency (SANRAL) will be investing between R300 billion and R400 billion for  upgrading and maintaining our national road infrastructure and for the development of strategic freight corridors. Up to R250 billion is being invested in ports and logistics modernisation, driven by Transnet. The Port of Durban is being expanded to handle higher container volumes and improve efficiency; with similar upgrades in Cape Town and the Port of Ngqura in the Eastern Cape. 

We will be allocating a total of approximately R420 billion to the Passenger Rail Agency of South Africa for rebuilding corridors and a multi-year rolling stock programme, as well as to Transnet for network expansion.

As I indicated earlier, the water sector has been earmarked for substantial public investment, with projects in the pipeline including  the Olifants Management Model Programme in Limpopo and the uMkhomazi Dam that is linked to Phase 2 of the Lesotho Highlands Water Project. 

Over the next three years approximately R6,5 billion will be invested in energy generation to support the Department of Energy’s roadmap for long term energy security.

Other projects in the investment pipeline are upgrades to OR Tambo International Airport, one of the continent’s busiest airports; investments in green logistics, and for electric vehicle infrastructure and incentives. One project of which we are particularly proud is a R5 billion investment for extending the capacity of the Square Kilometer Array (SKA radio telescope project in the Karoo region of the Northern Cape. The SKA is currently building two supercomputers that once completed, will be amongst the fastest in the world. 

This isn’t just a testament to the value of strategic public investment in digital infrastructure, it is also reflection of South African scientific excellence and world-class scientific research output. 

In my State of the Nation address last month, I said that we will be utilising innovative funding models that will reduce risk and attract investors to fast-track infrastructure projects. One of these is the Infrastructure Fund  that we established in 2018 out of the need to deploy blended finance to infrastructure development. 

Last year the Fund approved blended finance projects with a combined value of approximately R38 billion in water and sanitation, student accommodation, health, energy and transport.

Last year we also issued regulations for public private partnerships (PPP’s) in support of attracting more private sector participation and investment in the national infrastructure build. 

Lastly, we are also deploying innovative instruments such as the Credit Guarantee Vehicle to de-risk private investment in infrastructure.As South Africa, we remain committed to staying the course on fiscal discipline and to accelerating the momentum of the reform agenda – but also to leveraging investment to build an economy that is inclusive, transformed and that benefits all.

The transformation of our economy is necessary to drive sustained growth, reduce inequality and correct the injustices of the past. We are undertaking a review to refine, realign and strengthen our B-BBEE framework to ensure that it supports transformation while at the same time enabling investment and growth.

B-BBEE provides a foundation for inclusive growth by expanding participation in the economy and enabling us to harness the skills and contribution of all South Africans.

What makes South Africa’s empowerment laws distinct is that they are practical and innovative. In addition to pure equity participation measure we also have an Equity Equivalent Investment Programme (EEIP). It was created to accommodate multinationals whose global practices or policies prevent them from complying with the B-BBEE ownership element to invest in socio-economic, skills and enterprise development in South Africa without selling equity in their local subsidiaries.
 
Since its inception, the EEIP has onboarded some of the world’s leading multinational firms who have leveraged the programme to direct investment into local development, to incubate black, youth and women-owned businesses, and to fund skills development. 

Our overriding objective is to support firms with compliance, and to embrace empowerment as a meaningful investment in South African’s long-term economic stability. 

Ladies and Gentlemen, 

As I conclude we would like investments that are made should in the end deliver measurable benefits for our people. 
Investment projects must include clear local content plans, formal skills transfer initiatives, community development commitments, and transparent environmental safeguards. 

The skilling of our people especially young people is critically important as we embark on the skills revolution which is underpinned by a dual training system. We are expanding programs that will link training sent us, universities and companies to create the pipeline of technicians and project managers that are needed by our economy

This is but an overview of the scale of the deep, transformative changes taking place in the South African economy as we seek to position ourselves as an investment destination of choice.This progress continues to be acknowledged by our international and continental development partners.

During our G20 Presidency we concluded a Clean Trade and Investment Partnership with the European Union valued at approximately EUR 12 billion (R237 billion), and structured across Just Energy Transition, infrastructure, skills, and pharmaceutical manufacturing.

The African Development Bank has also confirmed R20.5 billion for the 2026/27 financial year directed at infrastructure, energy transition, human capital, and governance. In addition, the SA–Afreximbank Investment Facility – anchored by Afreximbank’s R176 billion commitment to South Africa – a structured instrument that will channel patient, concessional capital into the sectors where the Second Drive requires it most.

The New Development Bank has also indicated that they will make approximately R34bn available over 2026/2027 period.At standard leverage ratios, the development finance institution commitments alone can mobilise between R393 billion and R786 billion in additional private investment over the drive horizon. That is what partnership at scale looks like.

This year’s South Africa Investment Conference marks the formal transition from recovery to expansion, and from rebuilding confidence to accelerating growth.

I have laid out just some of the sectors of our economy that are ripe for investment. 

Extensive opportunities also exist in agriculture and agro-processing, in professional and financial services, in property, digital technologies, advanced manufacturing, and other high-growth industries.

To crowd in investments across the breadth and range of the South African economy, today we are formally launching the second Presidential investment mobilisation drive with a target of R2 trillion in new investment over the next  five years, from 2026 to 2030.

This is not ambition for its own sake. It is the arithmetic of what South Africa requires to achieve meaningful unemployment reduction, to industrialise at scale, to lead Africa’s green transition and to build the infrastructure on which our people’s futures depend.

We do so with a keen appreciation of the current state of foreign direct investment (FDI). 

Across the continent, Africa as a whole accounts for only about 4 per cent of global FDI, and recent increases have been driven largely by once-off mega projects, such as a US$35 billion development in Egypt in 2024.

Although we remain a significant continental player, accounting for between 15 and 20 per cent of Africa’s total FDI, our growth depends heavily on domestic investment, 

The opening position of the second drive is the R415 billion confirmed fixed investment and R 474,8 billion in DFI being announced in this room today. That brings the total to R 889,8 billion. That’s 81 projects. 9 provinces. 22 source markets. Over 230 000 permanent jobs.  

This is only the start of an era of new growth and dynamism for South Africa’s economy.  

The accountability framework is unchanged from the first drive. Every investment announcement is vetted and signed, and represents a firm commitment by the business leaders in this room. Every year, we will report back on what has been promised and what has been delivered.

As we seek to deepen our trade and investment relations, as South Africa we remain committed to maintaining policy certainty and to accelerating the momentum of the structural reform agenda.

We are a country in the throes of reform. We are creating the conditions for investment–led growth that is broad–based, inclusive, and durable.

Let us move forward together – with confidence, with partnership, and with a shared commitment to South Africa’s success.

I thank you.
 

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Khaby Lame rejoint les ambassadeurs de Dakar 2026 : la dynamique d’adhésion s’accélère autour des Jeux Olympiques de la Jeunesse

Source: Africa Press Organisation – French

La dynamique s’intensifie autour des Jeux Olympiques de la Jeunesse (JOJ) de Dakar 2026.  À l’approche du premier événement sportif olympique organisé en Afrique, l’arrivée de Khaby Lame en tant qu’ambassadeur officiel marque une nouvelle étape dans la montée en puissance et l’attractivité internationale des Jeux.

Figure incontournable des réseaux sociaux, suivie par des centaines de millions de personnes à travers le monde, l’influenceur italo-sénégalais rejoint un collectif d’ambassadeurs déjà prestigieux, aux côtés d’Omar Sy, Kalidou Koulibaly ou encore Eva Neymar. Une convergence de talents qui illustre l’ampleur de l’engagement suscité par Dakar 2026 bien au-delà du champ sportif.

Nommé officiellement le 26 mars 2026 à Dakar, Khaby Lame a exprimé sa fierté de s’associer à un projet historique pour le continent : “Je suis fier d’être Sénégalais, […] fier d’être africain.”

Révélé en pleine pandémie de COVID-19, Khaby Lame s’est imposé comme un phénomène global grâce à un format simple, et un langage universel accessible à tous. Son audience massive et son lien privilégié avec la jeunesse constituent un levier puissant pour porter la vision et les valeurs des Jeux.

Pour Mamadou Diagna Ndiaye, président du comité d’organisation des Jeux Olympiques de la Jeunesse de Dakar 2026, cette nomination s’inscrit dans une dynamique plus large : “L’engagement de Khaby Lame à nos côtés illustre l’élan exceptionnel que suscite cette édition des Jeux. Dakar 2026 rassemble, inspire et attire des talents qui souhaitent contribuer à faire de cet événement un succès mondial.”

Khaby Lame s’investira dans la promotion des Jeux, en particulier auprès des jeunes publics. Il participera aux temps forts de l’événement, dont la Tournée de la Flamme des JOJ à travers le Sénégal, et contribuera à renforcer l’impact social et inclusif de Dakar 2026, notamment en facilitant la participation de jeunes issus de territoires comme Mbacké, son village de naissance.

Avec cette nouvelle signature, Dakar 2026 confirme sa capacité à mobiliser des voix influentes à l’échelle mondiale et à incarner une ambition forte : faire de ces JOJ une célébration universelle de la jeunesse, du sport et du potentiel du continent africain.

Distribué par APO Group pour International Olympic Committee (IOC).

À propos de Dakar 2026 :
Les Jeux Olympiques de la Jeunesse de Dakar 2026 se tiendront du 31 octobre au 13 novembre 2026. Premier événement sportif olympique organisé en Afrique, il réunira environ 2 700 jeunes athlètes du monde entier, âgés de 17 ans maximum et répartis sur trois sites hôtes : Dakar, Diamniadio et Saly.

Le comité d’organisation des Jeux Olympiques de la Jeunesse de Dakar 2026 (COJOJ), en coordination avec le Comité International Olympique, est chargé de l’organisation de cet événement, avec l’ambition de laisser un héritage durable pour le Sénégal et le continent africain.

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Khaby Lame named Dakar 2026 Ambassador as momentum builds for the Youth Olympic Games

Source: APO

Khaby Lame has been named an official ambassador for the Dakar 2026 Youth Olympic Games (YOG), as momentum builds ahead of the first Olympic sporting event to be held in Africa. Lame’s appointment marks the latest milestone in the lead-up to the Games, with the event’s prominence and international appeal continuing to grow.

A social media sensation followed by hundreds of millions of people worldwide, the Italian-Senegalese influencer joins a prestigious group of ambassadors, alongside Omar Sy, Kalidou Koulibaly and Eva Neymar. This convergence of talent illustrates the breadth of engagement generated by Dakar 2026, which goes far beyond the world of sport.

Lame, who was officially appointed on 26 March 2026 in Dakar, expressed his pride at becoming part of this historic event for the continent: “This commitment reflects my desire to support young African talent, both in sport and beyond. Dakar 2026 will give our continent the opportunity to showcase the best of itself and inspire young people in Africa and around the world. It is a chance to demonstrate that, as well as being resilient, Africa is a force to be reckoned with. I am proud to be Senegalese and proud to be African – and we will make this first Olympic event in Africa a resounding success.”

Having risen to fame during the COVID-19 pandemic, Lame has become a global phenomenon thanks to the simple format and universally accessible nature of his content. His massive audience and connection with young people offer a powerful platform to promote the vision and values of the Games.

Mamadou Diagna Ndiaye, the President of the Dakar 2026 Youth Olympic Games Organising Committee (YOGOC), underlined how Lame’s appointment is part of a broader engagement approach. “Khaby Lame’s involvement illustrates the incredible enthusiasm generated by this edition of the Games,” he said. “Dakar 2026 is bringing together, inspiring and attracting talented individuals who want to help make this event a global success.”

Lame will play an active role in promoting the Games, particularly among young audiences. He will be involved in some of the event’s key moments, such as the YOG Torch Tour across Senegal, and will help strengthen the social and inclusive impact of Dakar 2026, including by facilitating the participation of young people from cities and towns such as Mbacké, where he was born.

This partnership is the latest demonstration of Dakar 2026’s ability to engage influential voices on a global scale and embody a powerful ambition: to make these YOG a universal celebration of youth, sport and Africa’s potential.

Distributed by APO Group on behalf of International Olympic Committee (IOC).

About Dakar 2026:
The Dakar 2026 YOG will take place from 31 October to 13 November 2026. The first Olympic sporting event to be held in Africa, the YOG will bring together around 2,700 young athletes aged up to 17 from around the world, across three host zones: Dakar, Diamniadio and Saly.

The Dakar 2026 YOGOC, in coordination with the International Olympic Committee, is responsible for organising this event, with the goal of leaving a lasting legacy for Senegal and Africa as a whole.

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