Updated hourlyHourly refreshSun, Oct 25, 2026
Healthcare · Energy
The African Development Bank Group (AfDB) (www.AfDB.org) and UK Export Finance (UKEF), the United Kingdom’s export credit agency, have signed a Memorandum of Understanding to strengthen cooperation on co-financing projects across Africa and mobilise additional resources for the continent’s sustainable development.
Abdul Kamara, Officer in Charge, Vice President of the African Development Bank Group, and Tim Reid, Chief Executive of UK Export Finance, signed the agreement on 21 October in Conakry, Guinea, on the sidelines of the fifth UK–West and Central Francophone Africa Trade and Investment Forum (WCAF V). It is the first framework agreement between the two institutions.
“Africa’s financing needs call for partnerships that bring additional capital to the continent at scale. This agreement with UK Export Finance gives our cooperation a structured framework and opens new opportunities to finance the infrastructure and investments that will drive Africa’s growth,” said Abdul Kamara, OIC Vice President of the African Development Bank Group.
The Memorandum of Understanding provides a framework for the two institutions to identify, assess and develop co-financing opportunities for sovereign and non-sovereign operations in the Bank’s regional member countries, drawing on each institution’s financial instruments. The partnership will bring together development finance and export credit to crowd in additional capital for Africa’s strategic investments. Priority areas include energy, infrastructure, water and sanitation, health, digital infrastructure, critical minerals, supply chain resilience, alongside agriculture and trade finance.
“This agreement deepens the relationship between UK Export Finance and the African Development Bank Group. By combining our financial instruments and expertise, we can unlock greater co-financing for the infrastructure, energy and trade priorities that matter most to Africa's growth. UKEF is committed to supporting that ambition, and this partnership will help us do so at greater scale”, said Tim Reid, Chief Executive, UK Export Finance.
The partnership supports the Bank Group’s efforts to mobilise capital at scale, in line with its Four Cardinal Points (https://apo-opa.co/4jHBqUh) strategic priorities.
The agreement also reflects the long-standing partnership between the Bank Group and the United Kingdom. The United Kingdom joined the African Development Fund (ADF) in 1973 and became a member of the African Development Bank in 1983. He remains a major contributor to the African Development Fund, which is the Bank Group’s concessional financing window.
The UK Export Finance, established in 1919 as the world’s first export credit agency, provides finance and insurance to support UK businesses and is increasingly active across Africa.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Media contact:
media@afdb.org
Oct 23 · 12:53·APO Group
SaaS · Energy
A Bankable Co-Investment Pipeline: SNEL and Invest Africa convened UAE leaders to showcase a structured, multi-gigawatt infrastructure pipeline, highlighting a highly secure opportunity for institutional capital to scale up renewable generation and modernise the national grid.
Unrivaled Regional Cost Leadership: Moving beyond theoretical potential, SNEL leverages an operational, 99.9% clean hydro baseload that delivers a structural cost advantage with an LCOE of ~$32/MWh, significantly outperforming regional peers and offering highly competitive margins for industrial off-takers.
Powering the Global Mineral Transition: Delivering reliable, ultra-low-carbon electricity is the strategic prerequisite for the DRC's copper and cobalt mining sectors, driving sustainable industrialisation while securing the critical supply chains essential to the global energy transition.
Société Nationale d’Électricité (SNEL SA), the Democratic Republic of the Congo’s (DRC) national electricity utility, in partnership with Invest Africa (https://www.InvestAfrica.com/) convened senior representatives from the UAE’s investment, finance, energy and infrastructure sectors for a private investment dinner in Dubai on 21 October. The event provided a platform to explore opportunities for international investors to participate in the development and modernisation of the DRC’s energy infrastructure.
Led by SNEL Director General, Prof. Dr. Ir. Teddy Lwamba Muba, the discussion focused on SNEL’s proposed investment pipeline, spanning large-scale hydropower, solar energy, battery storage, regional power interconnections, transmission infrastructure and digital metering. The pipeline reflects the scale of investment required to expand electricity supply, modernise the national grid and strengthen the DRC’s role in regional energy markets.
The DRC possesses an estimated 167 GW of hydropower potential across 3,350 identified sites, including the approximately 44 GW Inga complex. Yet, according to SNEL’s investment presentation, just 4.6 GW of hydropower capacity is currently installed nationwide. Unlocking this potential represents a significant opportunity to expand low-carbon electricity generation while supporting the country’s industrial development and growing demand for reliable power.
Among the opportunities presented were three major hydropower projects: Luapula, with a proposed capacity of 800 MW and an estimated investment of US$1.68 billion; Kibombo, at 246 MW and US$662 million; and Wanie Rukula, at 688 MW and US$3.4 billion. The wider pipeline also includes approximately US$4 billion in solar photovoltaic development, alongside investments in cross-border transmission, grid expansion and smart metering.
Reliable, competitively priced electricity will be essential to the DRC’s ambitions as a global supplier of critical minerals, particularly copper and cobalt. Expanding low-carbon power infrastructure can help meet the needs of energy-intensive mining operations, support more sustainable mineral supply chains and create the conditions for wider industrial growth. Improved regional interconnections could also strengthen electricity trade and enable the DRC to contribute further to regional energy security.
The discussions took place as SNEL pursues measures to strengthen electricity supply in the near term. Through its partnership with Turkish company Karpowership, SNEL is preparing for the deployment of a floating power plant with an announced initial capacity of approximately 134 MW in Matadi, intended to inject additional electricity into the national grid and support supply to Kinshasa. The initiative illustrates the importance of combining near-term capacity solutions with sustained investment in generation and transmission infrastructure.
Prof. Dr. Ir. Teddy Lwamba Muba, Director General of SNEL SA, said:
“Reliable, ultra-low-carbon power is the catalyst converting critical mineral endowments into sustainable industrial wealth. SNEL’s strategic transformation delivers exactly that: modernizing our generation fleet, securing regional transmission links, and deploying private capital frameworks under our updated regulatory regime. We are offering international investors disciplined governance, captive industrial demand, and long-term, risk-adjusted returns at the heart of Africa’s clean energy corridor.”
Chantelé Carrington, CEO of Invest Africa, said:
“The DRC presents significant opportunities for investors seeking to participate in Africa’s next phase of infrastructure development. Reliable electricity is fundamental to industrialisation, regional trade and the growth of competitive, sustainable businesses. By bringing SNEL together with investors and industry leaders from the UAE, we aim to support the partnerships needed to mobilise capital, advance priority projects and realise the country’s energy potential.”
The dinner formed part of Invest Africa’s wider work to connect African businesses and institutions with international investors, facilitating partnerships across key sectors of the continent’s economy.
Invest Africa and SNEL will look to build on the discussions and support further engagement with prospective investment partners around the DRC’s energy infrastructure priorities.
Distributed by APO Group on behalf of Invest Africa.
Media enquiries:
George Meadows
george.meadows@investafrica.com
SNEL
lli@concerto-pr.com
About SNEL SA:
About Invest Africa:
Oct 23 · 12:52·APO Group
Mining & metals
Viridian intersects 40.8m at 0.63% CuEq incl. 15.05m at 1.09% CuEq in first southern step-out assays at Kraken copper-nickel-cobalt project, Labrador.
Oct 23 · 11:59·GlobeNewswire
Mining & metals
Two holes totaling 224.5 meters drilled beneath antimony-bearing trenches at the Moose Lake occurrence, where trenching returned eight samples above 0.5% antimony; Skull trench samples returned up to 3.73% Sb, 1.965 g/t gold and 73.5 g/t silver in the Bathurst Mining Camp of New Brunswick
Oct 23 · 11:23·Newswire.com
Healthcare · Energy
During their stay in Ankara for the first session of political consultations between Burkina Faso and the Republic, the Burkinabe delegation led by the Comrade Secretary General of the Ministry of Foreign Affairs, Ambassador Hermann Yirigouin TOE, conducted wide-ranging consultations on October 20 and 21, 2026 with numerous figures within various Turkish state structures.
Thus, the delegation visited in turn the Maarif Foundation, the Cooperation and Coordination Agency (TIKA), the Higher Education Information Council, the Ministry of Health, the Council for External Economic Relations (DEIK), and the Ministry of National Education.
At the MAARIF Foundation, Ambassador Hermann Yirigouin TOE and his delegation held discussions with Anet BEY, Head of Africa at the MAARIF Foundation, assisted by colleagues.
He welcomed the signing of an establishment and management agreement with the foundation, which already owns schools in Ouagadougou and Bobo-Dioulasso, and the awarding of scholarships for Burkinabe students.
She also requested the foundation's support for increasing the number of these scholarships and for support in the areas of education and vocational and technical training.
MAARIF agreed to all of these requests. The two parties also discussed opportunities for expanding the foundation's activities in Burkina Faso.
At the Cooperation and Coordination Agency (TIKA), the Turkish development agency founded in 1992, the Secretary General of the Ministry of Foreign Affairs was received by Dr. Yahya Coskun, Vice President of the institution. TIKA has numerous achievements in Burkina Faso.
Among other things, she supported the development of emergency medicine with the SAMU (Emergency Medical Service).
The Agency expressed its support for a review of the project for its implementation. For 2027, it committed to providing support to Burkina Faso in the area of vocational and technical training, in line with the country's endogenous development objective.
The Burkinabe delegation also expressed the wish that a TIKA office could be opened soon in Ouagadougou.
At the Higher Education Council, discussions between Burkinabe and Turkish representatives focused primarily on the issue of renewing the 2024 memorandum of understanding, which sets out the conditions for cooperation in academic and university matters and which has now expired.
From the outset, Burkina Faso expressed its commitment to preserving the existing agreements, maintaining this cooperation, and strengthening it. The Turkish Council for Higher Education also supports this renewal and promises to increase the number of scholarships for Master's and Doctoral programs for Burkinabe students.
The Turkish side stated that it was open to any proposals for improving our cooperation within the framework of the new agreement. A prioritized list of Burkina Faso's needs will be sent to Turkey immediately.
Researchers from Burkina Faso will also be able to access and apply to the project bank of Turkish research centers.
At the Ministry of Health, the Burkinabe delegation was received by the Vice-Minister, Professor Nurullah OKUMUS.
Ambassador Hermann Yirigouin TOE praised the dynamism of cooperation between our two countries in the field of health, with the success of the first kidney transplant in Burkina Faso as a concrete achievement.
The Turkish Deputy Minister expressed his country's commitment to continuing its support for Burkina Faso in organ transplantation. This support will take the form of training and skills development for trainers, keeping pace with evolving knowledge in the field.
He also expressed support for facilitating agreements between Turkish public hospitals and the Burkinabe Ministry of Health as part of deepening health cooperation.
Professor Nurullah OKUMUS expressed interest in the Kokologho pharmaceutical technopole project, which could offer investment opportunities to Turkish companies.
At the Foreign Economic Relations Board (DEIK), which represents 4,000 Turkish companies, discussions led to a proposal to hold a business and investment forum between Burkina Faso and Turkey in Burkina Faso. Turkish exports to Burkina Faso are projected to increase from US$122.24 million in 2023 to US$177.84 million in 2025.
This growth testifies to the dynamism of our trade relations, and Ambassador TOE commended the important role played by DEIK in bringing Turkish and Burkinabe businesses closer together. He urged the institution to be more actively involved in resolving disputes between Turkey and Burkinabe to prevent Burkinabe companies from continually suffering losses.
DEIK, through Ms. Vahit Oguz Cetin, one of its leaders for West Africa, advocated for the facilitation of banking transactions and an agreement on the elimination of double taxation.
The Burkinabe delegation explained that this issue of double taxation is addressed at the confederal level within the Confederation of Sahel States (AES). It encouraged joint ventures and the establishment of sustainable partnerships, particularly in agri-food, cold chain logistics, textiles, solar energy, mining, technical training, etc., to boost national economic development.
At the Turkish Ministry of National Education, discussions focused primarily on the issue of improving the quality of education desired and sought by Burkina Faso to support its project for the economic and social transformation of the country within the framework of the Popular Progressive Revolution.
The Turkish Department of Education has stated its readiness to examine all options regarding the training of teachers and administrators of the education system, the sharing of experience in vocational and technical training, the sharing of school programs and training curricula, and the implementation of new programs.
He also proposed twinning projects between Turkish and Burkinabe schools for a mixing of peoples, the ambition being to leave future generations a legacy of relations based on friendship and cooperation.
Between two consultations, Ambassador Hermann Yirigouin TOE and his delegation visited the Atatürk Mausoleum named after Mustafa Kemal ATATÜRK, the Founder of the Republic of Türkiye.
A return to the roots of modern Türkiye, rich in lessons about the determination of a man and the nationalism of a people who knew how to take charge of their destiny and establish themselves in the concert of nations.
Distributed by APO Group on behalf of Ministère des Affaires étrangères, Burkina Faso.
Oct 23 · 10:43·APO Group
Mining & metals
-- Sumitomo Metal Mining Co., Ltd. (TSE: 5713) has set forth "a company that contributes to a nature-positive future" as its vision for 2030 to address "Conservation and Restoration of Nature," one of its material issues. In response to recent global developments in nature-related disclosures, Sumitomo Metal Mining has published nature-related information on the Sumitomo Metal Mining Group with reference to the discl
Oct 23 · 10:19·MarketersMEDIA
Sustainability · Mining & metals
NI Sustainability Guiding Principles Dr. Veronique Steukers, President, Nickel Institute Nickel Institute The NI Sustainability Guiding Principles are intended to strengthen confidence in responsibly sourced nickel materials. Being a responsible nickel producer starts with understanding nickel. The SGP help companies identify issues relevant to nickel production, build trust with stakeholders, and demonstrate leaders
Oct 23 · 09:00·EIN Presswire
Finance · Energy
Hydro’s adjusted EBITDA for the third quarter of 2026 was NOK 9,089 million, up from NOK 5,996 million in the same quarter last year. Higher all-in metal prices and higher alumina prices contributed positively in the quarter, along with improved earnings in Recycling and Extrusions. The strong performance was partially offset by higher anode and energy costs in Aluminium Metal, increased energy costs in Bauxite & Alumina due to gas supply disruptions, a stronger NOK vs USD, and negative price area differences in Energy.
Oct 23 · 08:22·GlobeNewswire
Finance · Energy
Côte d’Ivoire's Poro Power solar project has received international recognition for a pioneering investment structure led by Africa Finance Corporation (AFC) (www.AfricaFC.org/), demonstrating how African capital can be mobilised to develop essential infrastructure and accelerate the transition to cleaner energy. The facility is expected to become Côte d’Ivoire's largest solar plant when operational in 2027.
The project won ESG Green Bond Deal of the Year for Africa at the recent Infra Global ESG Awards 2026 in London, while AFC received ESG Green Bond Arranger of the Year for Africa. The double honours recognise the innovation behind the Poro Power transaction and AFC's role in structuring and mobilising investment for sustainable infrastructure.
Developed by Ivorian entrepreneurs, the 66-megawatt solar plant is under construction in northern Côte d’Ivoire near the city of Korhogo. It is projected to generate approximately 136 gigawatt-hours (GWh) of electricity annually, meeting the needs of more than 100,000 households and benefiting an estimated half a million people.
Beyond providing homes, public services and businesses with reliable power, the project will help Côte d’Ivoire towards meeting its target of increasing renewable energy's share of electricity generation to 45% by 2030. The Government of Côte d’Ivoire is enabling projects such as Poro Power through its initiative to encourage local private-sector participation in large-scale renewable energy projects, led by the Ministry of Mines, Petroleum and Energy under Minister Mamadou Sangafowa-Coulibaly.
“These awards are a tremendous recognition for an Ivorian project developed to meet the needs of our own communities,” said Jean-Marc Aie, Chairman and CEO of Poro Power 1 S.A. “Our ambition is not simply to generate clean electricity, but to support businesses, create opportunities and contribute to the development of Côte d’Ivoire. The Ministry's strategy to empower local private developers to undertake large-scale renewable energy projects, together with AFC's investment and innovative financing structure, has been instrumental in bringing Poro Power to this stage.”
The €65 million financing package, equivalent to approximately FCFA 42.6 billion, was raised through a green bond — an investment instrument that enables institutions to lend money to projects delivering environmental benefits. It was the first project-finance green bond in both Côte d’Ivoire and the West African Economic and Monetary Union (WAEMU), establishing a precedent for French-speaking West Africa, and was led, structured and fully funded by African institutions. The transaction allowed investors to participate in both euros and CFA francs, making it also Côte d’Ivoire's first dual-currency green bond. Together, these features demonstrate how African financial institutions can mobilise their own capital for major infrastructure projects, using financing structures suited to African markets.
AFC invested €43 million (approximately FCFA 28.2 billion) in February 2026 and acted as anchor investor, lead underwriter and co-arranger. The equivalent of a further €22 million was raised from African investors, including local and regional banks, pension funds, insurance companies and high-net worth investors.
The bond has a 15-year term, a fixed interest rate of 8.75%, and quarterly repayments following a two-year construction grace period. The financing combines the flexibility of a bond with safeguards normally used in project finance, including first-ranking security, dedicated revenue accounts and contractual protections that separate the project's cash flows from other activities. These measures help protect investors and align repayments with the plant's expected revenues.
By bringing together AFC's investment alongside capital from other African institutions through a structure that accommodates both local and international currencies, the transaction offers a potential model for financing further renewable energy and infrastructure projects across the region. Its significance extends beyond Poro Power, providing a practical example of African money financing African projects and a structure that could be replicated across the continent.
“Poro Power demonstrates that African financial institutions have both the capital and the expertise to finance large-scale renewable energy infrastructure through our own markets,” said Sameh Shenouda, Executive Board Member and Chief Investment Officer of AFC. “By combining the protections required for long-term project finance with the flexibility of capital markets, we have created a structure that can attract a broader range of African investors. This is an important model for mobilising the investment needed to expand reliable electricity supply, support industry and accelerate the energy transition across the region.”
Once operational, the plant is projected to avoid approximately 72,000 tonnes of carbon dioxide emissions annually — equivalent to taking around 15,600 petrol-powered cars off the road for a year.
The project includes a commitment to allocate €0.01 for every megawatt-hour of electricity generated towards to initiatives intended to benefit local communities.
Distributed by APO Group on behalf of Africa Finance Corporation (AFC).
Media Enquiries:
yewande.thorpe@africafc.org
About AFC:
Nineteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of energy, natural resources, heavy industry, transport, and telecommunications. AFC has 48 member countries and has invested over US$19 billion in 36 African countries since its inception.
www.AfricaFC.org
Oct 23 · 08:00·APO Group
Finance · Mining & metals
PERTH, Australia, Oct. 22, 2026 — Operations Q1 FY27 gold equivalent production of 40,740 AuEq oz @ AISC of $2,805/AuEq oz1,2. Gold equivalent sales for the quarter of 38,348 ounces1 for revenue of $206 million at an average gold sales price of $5,128/oz and an average antimony sales price of $23,842/t. Mine operating … Continue reading "Alkane Resources – Quarterly Report – September 2026"
Oct 23 · 06:15·PressReach
Energy · Automotive
Ever wonder why keeping tabs on the non-ferrous metals industry feels so unpredictable lately? As essential backbones for everything from automotive manufacturing and renewable energy [read full press release...]
Oct 23 · 05:01·Express Press Release