The 32nd Annual Meetings of the African Export-Import Bank (Afreximbank), dubbed AAM2025, concluded with a string of high-impact deal signings expected to unlock over $1 billion in strategic investments across the continent.
Held from June 25 to 28, the event drew more than 8,000 participants, including heads of state, government ministers, and private sector leaders from Africa, the Caribbean, and beyond.
Among the highlights were four major Project Preparation Facility (PPF) agreements, signed with entities from Malawi, Kenya, Zimbabwe, and Nigeria, aimed at catalyzing development in healthcare, infrastructure, clean energy, and industrialization.
Malawi to Benefit from $300M Investment Pipeline
Afreximbank and NBS Bank Plc (Malawi) formalized a Joint Project Preparation Facility Framework Agreement to provide early-stage financing and technical assistance for projects in key sectors such as energy, manufacturing, logistics, tourism, healthcare, and creative industries.
“This partnership is designed to de-risk projects and transition them from concept to bankability,” said Mrs. Kanayo Awani, Afreximbank’s Executive Vice President for Intra-African Trade and Export Development.
The deal includes a capacity-building program for NBS staff and is projected to unlock $300 million in near-term investments in Malawi.
Pharmaceutical Manufacturing Expansion in Kenya
A $4.4 million PPF agreement was signed with Med Aditus Pharmaceutical Kenya Ltd, paving the way for a state-of-the-art fill-and-finish pharmaceutical plant in Kisumu County. Designed to produce 2 billion tablets and capsules annually, the facility will strengthen access to affordable medicines in the Great Lakes region.
“The project will incorporate blockchain technology and boost Africa’s pharmaceutical manufacturing capabilities,” noted Dr. Dhiren Thakker, Med Aditus Pharma’s CEO.
This initiative is expected to attract $40 million in total investment.
Zimbabwe’s Floating Solar Megaproject Gains Momentum
Afreximbank and Green Hybrid Power Pvt Ltd agreed on a $4.4 million PPF to support feasibility studies and transaction advisory for a 1-Gigawatt floating solar photovoltaic power system on Lake Kariba.
The pilot phase will generate 500MW, sold to Zimbabwe’s Intensive Energy Users Group under a 20-year take-or-pay agreement.
“This project will boost industrial productivity and enhance mineral beneficiation,” said Mr. Eddie Cross, Chairman of Green Hybrid Power.
Estimated total investment: $350 million.
Nigeria’s Sapele Power Plant Set for Feasibility Financing
Afreximbank signed a $4 million PPF agreement with Proton Energy Ltd, supporting a grid-connected, gas-fired power plant in Sapele, Nigeria. The facility will start with 150MW and scale up to 500MW, with power sold to Eko Electricity Distribution Company under a long-term agreement.
“We’re excited to unlock Nigeria’s energy potential through strategic collaboration,” said Mr. Oti Ikomi, Proton Energy’s Executive Vice Chairman and CEO.
Expected asset value: $300 million.
AAM2025 concluded with the bank’s Annual General Meeting, where Dr. George Elombi was appointed Afreximbank’s next President, succeeding Prof. Benedict Oramah, who served two five-year terms.
