Category: COVER

Ghana’s Mining in Motion Summit Gains Support from Key Leaders

Otumfuo Osei Tutu II, King of the Ashanti Kingdom; Hon. Emmanuel Armah Kofi Buah, Minister of Lands and Natural Resources of Ghana; and Oheneba Kwaku Duah, the son of Otumfuo Osei Tutu II and Managing Director of the Ashanti Green Initiative recently met to discuss the upcoming Mining in Motion Summit in Ghana.

They explored the summit’s potential to improve the artisanal and small-scale gold mining (ASGM) sector in Ghana and the role of government, international partners and major mining firms in accelerating the sector’s growth. Hon. Kofi Buah endorsed the event, emphasizing its significance in connecting small-scale miners with technology providers, financiers, regulatory bodies and global industry stakeholders to improve their operations and impact.

Organized by the Ashanti Green Initiative along with the World Bank, the World Gold Council and other international partners, Mining in Motion will take place from June 2 – 4 in Accra.

The summit is held under the theme Sustainable Mining & Local Growth – Leveraging Resources for Global Impact, uniting key decision-makers, including H.E. John Dramani Mahama, President of the Republic of Ghana, as well as representatives from public and private sector mining institutions from South Africa, the Republic of Guinea, the African Union, ECOWAS and the United Nations.

The three-day event will highlight the role of traditional authorities in shaping artisanal and small-scale mining practices, emphasizing the sector’s contribution to employment and economic growth. In 2024 alone, Ghana’s artisanal miners generated $5 billion in foreign exchange earnings through gold exports. Providing direct employment for over one million Ghanaians and accounting for 35% of domestic gold output, the sector has the potential to significantly shape socioeconomic development in the west African country.

As Ghana’s mining sector increasingly supports sustainable development, the Mining in Motion Summit will highlight best practices for integrating ASGM into the global financial system. Representatives from prominent international financing organizations will share their insights.

In a significant move to boost earnings for small-scale miners, Ghana has announced plans to establish a Gold Board. This new entity will simplify the process of purchasing gold from small-scale miners, providing them with easier access to global markets.

With Samuel Adu Gyamfi, who was appointed Acting Managing Director of Precious Minerals Marketing Company last month and tasked with setting up the Ghana Gold Board, playing a pivotal role in shaping the summit, Mining in Motion is set to have a sizable impact on the growth of Ghana’s gold sector.

Through a series of high-level panel discussions, deal signings, project showcases and exclusive networking, Mining in Motion serves as the ideal platform to connect Ghanaian miners with regional counterparts and global investors for forge industry-changing partnerships.

Stay informed about the latest advancements, network with industry leaders, and engage in critical discussions on key issues impacting ASGM and medium to large scale mining in Ghana. Secure your spot at the Mining in Motion 2025 Summit by visiting https://MiningInMotionSummit.com/. For sponsorship opportunities or delegate participation, contact sales@ashantigreeninitiative.org.

Distributed by APO Group on behalf of Energy Capital & Power.

SOURCE

Energy Capital & Power

February 27, 2025
Charting the Future of Islamic Finance in Russia:CIBAFI and TIDA Host Strategic Session and Training Programme

The General Council for Islamic Banks and Financial Institutions (CIBAFI), in collaboration with the Tatarstan Investment Development Agency (TIDA), successfully hosted a high-level strategic session titled “Prospects for Islamic Finance in the Russian Federation” in Kazan, Tatarstan.

Dr. Belatik stated: “Islamic finance has strong growth potential, and collaboration between Russia and countries where it is well established can accelerate its development. It offers opportunities for economic growth by supporting real economic activities and promoting ethical finance. CIBAFI remains committed to this progress through advocacy, capacity building, and industry engagement. By strengthening human capital and refining regulations, we can drive sustainable growth that benefits the financial sector and the broader economy”

Ms. Minullina stated: “Our companies are actively working with Islamic countries, and while the use of Islamic financial instruments is still in its early stages, there is noticeable progress and significant potential for growth. It is crucial for us to establish a comprehensive infrastructure to accelerate this process. Today, we have launched a new training phase aimed at deepening the knowledge of our specialists and enhancing their capabilities for the future development of Islamic banking in Russia. It is important to note that this training is conducted by global experts with international professional standards.”

Following the opening remarks, Dr. Belatik provided a briefing on CIBAFI’s activities, emphasizing its role in advancing Islamic finance through advocacy, research, and capacity-building initiatives. The session then featured a panel discussion, where experts examined key challenges, opportunities, and regulatory considerations for the industry’s growth in Russia.

As part of its ongoing efforts, CIBAFI also launched a three-day Orientation Programme in Islamic Finance, offering a comprehensive understanding of Islamic finance principles, key financial products, and Shariah-compliant structures. The programme, facilitated by Dr. Ayman Sami Homoud, Group Chief Executive Officer, FEH Consulting combined theoretical knowledge with practical applications in Islamic finance, addressing emerging trends and regulatory developments.

In conjunction with the strategic session and training programme, Dr. Belatik held a productive meeting with H.E. Rustam Nurgaliyevich Minnikhanov, President of the Republic of Tatarstan, in Kazan. The meeting was also attended by Ms. Taliya Minullina, CEO of the TIDA, who represented the interests of the region’s investment and development initiatives. Discussions focused on key initiatives and potential avenues for collaboration in supporting Islamic finance and raising public awareness. The meeting concluded with strategic plans set to be implemented in the coming period.

This initiative reaffirms CIBAFI’s commitment to strengthening Islamic finance globally through capacity-building and industry collaboration.

SOURCE

CIBAFI

February 27, 2025
Dagbon King’s Reciprocal Visit to Yogbun Kingdom in Photos

February 22, 2025
African ministers hold strategic dialogue on visa-free movement to propel regional integration agenda for Africa’s Transformation

ADDIS ABABA, Ethiopia, February 19, 2025/ — On the sidelines of the 38th African Union Summit, African leaders discussed obstacles to the continent’s economic integration, underscoring visa-free movement to reduce illegal migration and strengthen official travel channels.

The high-level dialogue, convened by the African Development Bank Group and the African Union Commission alongside the AU Summit, brought together trade ministers and business leaders who pointed to Rwanda’s experience as evidence that open borders enhance, rather than compromise, security.

African Development Bank Group Vice President for Regional Development, Integration and Business Delivery Nnenna Nwabufo expressed the Bank’s continued commitment to supporting the acceleration of visa-free movement across the continent.

“We do it for its promise to transform Africa and to create prosperity,” she noted. “In fact, the goals of our new Ten‑Year Strategy (2024–2033) are designed around seizing Africa’s opportunities for a prosperous, inclusive, resilient, and integrated continent.”

In his keynote address, Albert Muchanga, Commissioner for Economic Development, Trade, Tourism, Industry and Minerals at the African Union Commission, outlined four priority areas to open up the continent.

They include liberalizing the movement of categories of people critical for trade in goods and services, implementing the Strategic Framework on Key Actions to Achieve Inclusive Growth and Sustainable Development in Africa, advancing to the next stage of African economic integration, particularly the African Common market, as envisaged under the 1991 Abuja Treaty, and establishing the appropriate facilitation measures, whether soft or hard infrastructure, to facilitate free movement of persons.

Commissioner Muchanga stressed the need to make more progress on some continental projects, such as the trans-African highways (Cairo to Cape and Dakar to Mombasa), to facilitate free movement of persons.

Presenting the “State of play in visa-free movement in Africa,” which featured findings from the latest edition of the AfricaVisa Openness Index, AVOI, Principal Regional Integration Coordinator at the African Development Bank’s Regional Integration Coordination Office, Ometere Omoluabi-Davies, highlighted the progress made by some countries regarding opening up their borders for Africans.

The presentation reported that 39 African countries have improved their scores since 2016, indicating that visa openness across Africa is at its highest level since the inception of the index. Despite this inspiring trajectory, it was observed that there is still much room for progress to facilitate the unrestricted mobility of Africans within the continent.

Rwanda Minister of Trade and Industry Prudence Sebahizi shared his country’s experience and economic gains from implementing a visa-free regime.

“Rwanda does not agree with the usual excuse of security threats that accompany visa-free discussions because what is important is to invest in the systems, security, governance, monitoring,” he declared.

“In the end, people who travel for tourism and business will always use the official channels such as the borders and airports. This means the policy itself cannot contribute to security concerns but rather solve the issue of smuggling and illegal migration.”

The event featured roundtable discussions in which Africa’s policymakers and business leaders shared insights on implementing visa-free movement across the continent. With a resounding call to action, African Union’s Youth Envoy, Chido Mpemba, emphasized that the interconnectedness of young people through social media and the internet enables experience sharing and cross-border collaboration. She noted that this was critical for building the social and cultural integration needed to create a shared African identity.

The session concluded with a joint announcement of the 2025 Visa-Free Roadshow by Dr. Joy Kategekwa, Director of the Regional Integration Coordination Office of the African Development Bank Group, and Dr. Sabelo Mbokazi, Head of Employment, Labor and Migration Division of the African Union Commission.

This roadshow aims to sustain advocacy and mobilize action for visa openness and free movement within Africa’s broader regional integration agenda to deliver better results for all Africans.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Contact:
Betty Baisiwa Dowuona-Hammond
Communication and External Relations Department
media@afdb.org

February 19, 2025

The Djibouti Forum returns for its second edition:a unique platform for investment and dealmaking in Africa

Djibouti City, Djibouti – 19 February 2025–The second edition of the Djibouti Forum, under the theme “Unlocking opportunities for regional and global growth”, will take place from the 6th to the 8th of April 2025.

Organised by the Fonds Souverain de Djibouti (Sovereign Wealth Fund of Djibouti), this landmark gathering seeks to positively shape the African agenda while highlighting the Horn of Africa’s pivotal role as a catalyst for growth and development in the region.

Positioned at the crossroads of Africa, the Middle East, and Asia, the eastern corridor of Africa is emerging as a powerhouse of innovation, trade, and development. The Djibouti Forum 2025 builds on this momentum to offer a unique platform for economic transformation.

Through the visionary leadership of Djibouti policymakers, the Forum aims to identify and showcase investable opportunities in the region and across Africa, advance strategic partnerships and dealmaking and explore innovative solutions to drive sustainable growth across priority sectors.

“Our Strategic Vision 2035 is to consolidate our role as a port and digital hub while diversifying our economy, promoting inclusive prosperity and strengthening our position on the international stage” stated HE Ismail Omar Guelleh, President of the Republic of Djibouti.

“Djibouti is also promoting regional integration and helping to strengthen AfCFTA to stimulate economic growth and sustainable development in Africa and the Djibouti Forum stands as a critical platform for accelerating business opportunities across our region and the continent.”

Following a successful first edition that gathered 46 expert speakers and representations from 280 institutions with a collective US$2.5 trillion in assets under management, the Djibouti Forum will return for a second time with an unparalleled network of policymakers, financiers, institutional investors, and industry leaders, to bring forward impactful dialogue and transformative opportunities.

Bringing together key stakeholders, the Forum will serve as a gateway for dialogue, collaboration, and concrete action toward shaping the continent’s future. The objective of this strategic meeting is to deliver valuable insights and foment discussions on future megatrends and macroeconomic outlooks while tapping into new opportunities.

Over 50 speakers will delve into critical themes shaping global markets, including public-private partnerships (PPPs), domestic resource mobilisation, and sector-specific insights spanning energy, logistics, hospitality, telecoms, technology and digitisation.

Investors and policymakers will explore the favorable prospects offered by ports and new trade corridors in creating value chains while leveraging partnerships and alliances to further strengthen regional and continental integration.

The Djibouti Forum connects decisionmakers, investors and developers to drive actionable outcomes and make an impact. This premier event presents a unique opportunity for high-level networking. Participants can access the full agenda and register directly on the Djibouti Forum website

SOURCE

The Djibouti Forum

February 19, 2025

More than 170 Countries to Participate in AIM Congress 2025 in Abu Dhabi Next April
Abu Dhabi, UAE, February 19, 2025: More than 170 countries have confirmed their participation in the AIM Congress 2025 International Exhibition, taking place as part of the congress’s fourteenth edition at the Abu Dhabi National Exhibition Centre from April 7 to 9.

Under the theme “Mapping the Future of Global Investment: The New Wave of a Globalized Investment Landscape – Towards a New Balanced World Structure”, the event aims to redefine investment trends and drive economic growth.

AIM Congress 2025 presents a unique opportunity for entrepreneurs, companies, investors, and governments to showcase ambitious projects, exchange insights, and forge strategic partnerships that enhance investments across diverse sectors.

With an expected attendance of over 25,000 participants from around the world, the congress serves as an unmatched platform for financing opportunities, business expansion, and high-level networking with key decision-makers in the global investment landscape.

The international AIM exhibition highlights sustainable development opportunities in the UAE and globally by showcasing innovative projects and initiatives, fostering job creation, and strengthening collaboration among participants to drive balanced economic growth in an era of accelerating challenges.

The exhibition is dedicated to promoting foreign direct investment and exploring practical strategies to attract investors to various economic sectors. It is structured around eight key portfolios:
- Foreign Direct Investment (FDI): Your Gateway to Global Growth
  International investors and startups will gain insights into the latest regulations, assess the impact of geopolitical factors on capital flows, explore emerging markets, and identify new investment destinations within a highly advanced and supportive business environment.
- Global Trade: Maximizing Profits Across International Markets
  Exporters and importers will benefit from discussions on smart supply chains, trade finance solutions, and modern customs regulations, enabling them to expand their businesses and leverage strategic partnerships.
- Startups and Unicorns: Incubating Innovation and Expansion
  Startups and ambitious investors will have the opportunity to connect with venture capitalists and financiers, present their ideas to global investors, explore the latest funding strategies, and learn from the success stories of unicorn companies valued at over $1 billion.
- Future Cities: Building Smart and Sustainable Communities
  Engineers, real estate developers, and policymakers will explore practical solutions for smart infrastructure, renewable energy, and sustainable mobility, unlocking significant investment opportunities in urban planning and construction.
- Future Finance: Preparing for the Next Financial Revolution
  Financial institutions and investors will gain valuable insights into evolving banking systems, digital financial transactions, and the future of fintech through engagement with industry leaders.
- Global Manufacturing: Boosting Productivity with Advanced Technology
  Industrial companies and manufacturers will discover ways to enhance productivity, integrate smart manufacturing technologies, and optimize operational efficiency.
- Digital Economy: Seizing Opportunities in the Virtual World
  The exhibition will bring together government agencies, tech firms, and investors to explore emerging trends in artificial intelligence, e-commerce, and cloud services, ensuring participants remain at the forefront of digital transformation.
- Entrepreneurs: Driving Growth for SMEs
  SMEs will have the chance to present their innovative projects to global investors, participate in educational workshops, and gain expertise in financial management, digital marketing, and international expansion strategies.
AIM Congress 2025 continues to serve as a premier platform for fostering global investment opportunities, facilitating knowledge exchange, and driving sustainable economic development.

For more information, please visit: https://www.aimcongress.com
February 19, 2025
Islamic Finance Expands Africa’s Energy Investment Landscape, Strengthening Arab-African Cooperation

PARIS, France, February 17, 2025/ — Africa’s energy sector is seeing growing interest from Islamic financial institutions, as demonstrated by the recent $400 million Murabaha financing secured by Africa Finance Corporation (AFC).

This transaction not only underscores the growing role of Islamic finance in Africa’s infrastructure development, but also highlights significant opportunities for deeper financial cooperation between Arab and African nations in the energy sector.

The strong demand for AFC’s facility, which attracted 11 Islamic financial institutions – including Abu Dhabi Islamic Bank, Al Rajhi Bank and Emirates Islamic Bank – signals growing appetite among Middle Eastern banks to engage in Africa’s development.

The facility, upsized from an initial $300 million due to high investor interest, reinforces AFC’s strategy to diversify its funding base and aligns with broader efforts to expand energy investment partnerships between Arab and African countries.

Islamic finance is emerging as a key source of funding for Africa’s energy sector, particularly for large-scale infrastructure projects. The Murabaha financing structure used in AFC’s deal aligns with Sharia principles, offering an attractive and ethical investment vehicle for Middle Eastern and North African financial institutions seeking exposure to African markets.

This move complements AFC’s recent $500 million hybrid bond issuance and the corporation’s ongoing efforts to attract diverse capital sources, including potential Panda bonds in China.

Opportunities for Arab Investment in Africa’s Energy Future

The increasing participation of Islamic banks and financial institutions presents a strategic opportunity for Middle Eastern nations to play a larger role in Africa’s energy transition.

Countries such as the UAE, Saudi Arabia and Qatar have well-capitalized financial institutions and sovereign wealth funds that can accelerate Africa’s energy infrastructure expansion, particularly in natural gas, renewables and power generation.

Arab nations already have a growing footprint in Africa’s energy sector. The UAE’s Masdar has been investing in renewable projects across North and sub-Saharan Africa – committing $10 billion to deliver 10 GW of clean energy capacity in Africa by 2030 – while Saudi Arabia’s ACWA Power has been involved in developing solar and desalination projects across the continent.

QatarEnergy has been actively advancing hydrocarbon exploration in Africa, expanding its interests in Namibia’s offshore Orange Basin, while ADNOC has strengthened its footprint by acquiring a 10% stake in the Area 4 concession of Mozambique’s Rovuma Basin.

However, there remains significant untapped potential for Arab-African cooperation, particularly in financing LNG terminals, gas-to-power projects and oil and gas exploration. Countries like Egypt, Algeria and Libya, which straddle both regions, can serve as financial and logistical bridges between Middle Eastern investors and African energy markets.

The Role of Energy-Focused Islamic Finance

The AFC’s Murabaha financing comes at a time when global Islamic finance is experiencing sustained growth, with assets expected to see high single-digit expansion through 2025, according to S&P Global Ratings.

This growth is supported by strong balance sheets, high profitability and increasing regulatory backing. The surge in Islamic finance presents a timely opportunity for African energy projects, which require significant capital investment to meet the continent’s growing energy demand.

One of the major advantages of Islamic finance is its alignment with sustainable investment principles, making it particularly attractive for funding Africa’s energy transition.

In addition to AFC’s investment in renewable energy ventures such as Xlinks’ renewable energy initiative and the expansion of Lekela Power’s 3 GW capacity target, Islamic financial institutions could extend their involvement to Africa’s gas sector, which is viewed as a transitional fuel to bridge the energy gap.

Strengthening Arab-African Partnerships at IAE 2025

The increasing role of Middle Eastern finance in Africa’s energy sector will be a critical focus at the upcoming Invest in African Energy (IAE) Forum in Paris this May.

Serving as the premier African energy project showcase outside of the continent, IAE 2025 provides a space for African governments, investors and key financial players from the Middle East to explore new partnerships and drive investment in gas, LNG and broader energy infrastructure projects.

By tapping into Islamic finance, African countries can secure critical capital to accelerate its energy development. At the same time, Arab nations stand to benefit from deeper economic integration with Africa, gaining access to new markets and resources. The AFC’s successful Murabaha financing serves as a strong indicator that the time is ripe for greater energy sector collaboration between Africa and the Middle East.

IAE 2025 (http://apo-opa.co/4hC0kAA) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

SOURCE

Energy Capital & Power

February 18, 2025
Wa Gold Project, Upper West Region, Ghana gets a Booster

Report: Mohammed A.Abu

A quite impressive mineralisation encountered at the Kpali Gold Prospect under the Wa Gold Project announced recently by Castle Minerals comes as a further boost to the Upper West Region’s image as an emerging gold province

The project with multiple prospects is the single largest commercial gold concession in the entire Northern sector that promises to offer a maiden commercial mining operation in the region.

Castle Executive Chairman, Stephen Stone, commented “The Kpali Gold Prospect is developing into a robust discovery and is a strong indicator that we may be dealing with a new West African gold mining camp in Ghana’s emerging northern region.

“The latest intercepts include some very decent widths and grades at shallow depths with good continuity which can have considerable positive impacts should mining be considered.

“We have intersected a very impressive 12m at 8.29g/t Au from 25m, including 6m at 11.60g/t Au from 31m and a peak 1m intercept of 20.43g/t Au at 36m in a ‘hangingwall’ lode, and also 4m at 4.16g/t Au from 95m in a lower ‘footwall’ lode. Apart from these standout results, very strong mineralisation has been encountered within most holes drilled, implying that with additional drilling we may be able to delineate a decent high value deposit.

“We are very keen to get back drilling and to extend the Kpali Gold Prospect discovery as well as to follow-up historical drilling at the nearby Bundi discovery, 4km north. There are also several other enticing prospects in the broader Kpali Gold Project area.

“These drilling results follow excellent recent results from four holes at the Kandia Prospect, a second and separate gold discovery associated with a relatively underexplored 16km prospective contact between Birimian metasediments and a granite intrusion.

“Recent intercepts at Kandia included 7m at 3.36g/t Au from 149m within 24m at 1.78g/t Au from 139m and 5m at 3.49g/t Au from 82m within 11m at 2.26g/t Au from 79m.

“These deposits lie in a classic setting for major gold deposits in West Africa and in particular northern Ghana which hosts the Cardinal Resources 5.1Moz gold Namdini deposit and the Azumah Resources 2.8Moz gold Black Volta Gold Project.

“The latter’s high-grade Julie deposit is immediately along strike from Kandia. West Africa is where big gold discoveries can be and are still being made. With the gold price now at a level I could only dream of when starting my career, it’s the perfect time to be exploring Castle’s two new discoveries in the very stable, safe and mining friendly jurisdiction of Ghana

“Castle Minerals Limited (“Castle” or the “Company”) advises that a recently completed eight-hole, 1,106m RC drill programme at its Kpali Gold Prospect in Ghana’s Upper West Region (“Project”, “Kpali”) has intersected mineralisation in all holes including 12m at 8.29g/t Au from 25m including 6m at 11.60g/t Au from 31m and a peak 1m intercept of 20.43g/t Au at 36m in an interpreted ‘hangingwall’ lode and then 4m at 4.16g/t Au from 95m in a lower “footwall” lode (24KPRC010).

“Additional intercepts included 7m at 2.23g/t Au from 35m(24KPRC011) including 11m at 2.24g/t Au from 50m, 5m at 3.6g/t Au from 78m (24KPRC012), 9m at 4.81g/t Au from 107m (24KPRC015) and 3m at 3.08g/t Au from 78m (KPRC017).

“These results confirm the Kpali Gold Prospect, just one of several prospects within the broader Kpali Gold Project, as a robust discovery in a completely new district within Ghana’s emerging Northern Region exploration frontier.

“With several other high conviction prospects yet to be evaluated in the area, including the nearby Bundi, Kpali East, Wa South East and Wa South West prospects, there appears to be present all the hallmarks of a new West African mining camp and the possibility of a considerable gold endowment.

“The Kpali Gold Prospect lies within a mineralised corridor associated with a 30m to 50m wide zone of structural deformation immediately west of a granite intrusion.

“Three drilling programmes have identified near-surface, shallow plunging high-grade lode-style mineralisation to a depth of at least 100m. Multiple, closely-spaced mineralised lodes have been identified over at least 650m strike.

“Overall, the geological setting at the broader Kpali Gold Project is of typically structurally-controlled, orogenic style mineralisation within Birimian terrane. This is a similar setting as that hosting several worldclass gold mining operations in Ghana and West Africa generally. Orebodies with these characteristics can often extend to considerable depth.

“This latest drilling programme focused specifically on extending zones of high-grade, lode-based mineralisation that appears to plunge to the north. Better intercepts (>1g/t Au, max 2m internal dilution) from the eight holes completed included: • 12m at 8.29g/t Au from 25m (24KPRC010) incl. • 6m at 11.60g/t Au from 31m and • a peak 1m intercept value of 20.43g/t Au at 36m and • 4m at 4.16g/t Au from 95m among others

“These latest results enhance the confidence obtained from the two prior programmes which included 4m at 3.66g/t Au from 26m, 3m at 5.20g/t Au from 125m, 28m at 2.26g/t Au from 81m including 5m at 8.41g/t, 10m at 2.01g/t Au, 5m at 4.53g/t Au, 11m at 1.86 g/t Au from 143m and 3m at 5.20g/t Au from 125m

“Northern Ghana and the Kpali Gold Project A compelling driver for exploring Northern Ghana’s Kpali Gold Project is its advantageous location at the convergence of two major greenstone belts (Bole-Bolgatanga and Wa-Lawra/Boromo) and three regional-scale structures.

“These are all associated with gold deposits. This supports the thesis that the region provides a large and prospective “search base” for the discovery of a major new West African mining camp. Northern Ghana has more recently seen two of West Africa’s better discoveries and success stories.

“The 5.1Moz Namdini gold deposit, discovered by Cardinal Resources Limited prior to its takeover by Shandong Gold Limited in 2020, has just been commissioned and lies on the same Bole-Bolgatanga Birimian greenstone belt as Castle’s Kandia discovery.

The Azumah Resources Limited owned 2.8Moz Black Volta Gold Project (“BVGP”) is earmarked for development in 2025. A majority of this gold was discovered by Castle’s Executive Chairman, Stephen Stone, under his former stewardship of Azumah. Castle’s Kandia mineralised trend is immediately along strike of the BVGP’s high-grade Julie deposit.

The discovery of mineralisation at the Kpali Gold Project’s Kpali, Bundi, Kpali East, Wa South East and Wa South West prospects are essentially “blind” discoveries in that the bedrock hosting mineralisation is largely obscured by extensive but generally shallow soils and alluvium.

This explains the lack of artisanal mining activity which often leads explorers into a new area. Castle’s structured and systematic approach to exploration in this environment is proving highly effective across its extensive tenure.

What’s next at Kpali?

The enormous encouragement from this latest drilling campaign at the Kpali Gold Prospect, and the presence of several other high conviction targets within the Kpali Gold Project, the announcement continues, reinforces Castle’s belief that one or more material discoveries could be made.

“Once the information provided by this latest round of drilling has been fully processed, integrated with existing data and fully interpreted, a follow-up drilling campaign will be designed and implemented.

“Kandia and other Wa Gold Project prospects The Company’s Wa Gold Project comprises extensive tenure prospective for gold within Ghana’s Upper West Region. As well as the Kpali Gold Project and the Kandia Project, there are many other targets worthy of investigation on a prioritised basis.

“Recent intercepts at Kandia included 7m at 3.36g/t Au from 149m within 24m at 1.78g/t Au from 139m and 5m at 3.49g/t Au from 82m within 11m at 2.26g/t Au from 79m (refer ASX release 28 Jan 2025 ‘Excellent Gold Intercepts from Drilling at Kandia Prospect’).

West Africa is one of the world’s premier regions to be exploring for gold, delivering an enviable fifteen discoveries of over two million ounces each since 2012. Ghana’s northern region is now considered one of the best areas to find more of these. Ghana is rated one of Africa’s most preferred jurisdictions for exploration and mining.

It is Africa’s number one gold producer at over 5Moz in 2024 and is the sixth largest gold producer in the world. It is host to several massive deposits operated by Tier-One companies such as Newmont, AngloGold-Ashanti and Zijin, which recently paid Newmont US$1 billion for its Akyem mine

February 14, 2025
Africa Finance Corporation and the Export-Import Bank of China (CEXIM) Strengthen Partnership to Drive Trade and Infrastructure Growth Across Africa

BEIJING, China, February 14, 2025/ — Africa Finance Corporation (AFC) (www.AfricaFC.org), Africa’s leading infrastructure solutions provider, has signed a Memorandum of Understanding (MoU) with the Export-Import Bank of China (CEXIM) to deepen collaboration in financing strategic infrastructure and trade projects across Africa.

The agreement builds upon an existing relationship between the two institutions, dating back to 2018, and reinforces a shared commitment to accelerating economic development through sustainable investments. To date, AFC has secured a total of US$700 million in financing from CEXIM, including a US$300 million facility in 2018 and another US$400 million loan in 2023.

This renewed partnership will focus on financing trade and investment projects in key sectors such as clean energy, transportation, telecommunications, and climate change mitigation, while also facilitating knowledge exchange and collaboration on best practices in project structuring and risk management.

“Our partnership with CEXIM strengthens Africa’s trade and investment ties with China, creating new pathways for infrastructure development and industrial growth,” said Samaila Zubairu, President & CEO of AFC. “Strategic collaborations like this are key to accelerating Africa’s industrialisation and with CEXIM’s support, we are unlocking opportunities to build more resilient economies, mobilise capital at scale, and drive long-term prosperity across the continent.”

AFC has been steadily expanding its presence in the Chinese financial markets recently securing an AAA domestic credit rating from China Chengxin International Credit Rating Co. Ltd (CCXI) and an AAAspc issuer credit rating from S&P Ratings (China) Co., Ltd.

These ratings demonstrate AFC’s exceptional financial strength, disciplined capital management, and expanding access to diversified funding. AFC also finalised a US$1.16 billion syndicated loan last year, co-led by the Bank of China and the Industrial and Commercial Bank of China (ICBC) London Branch.

This collaboration underscores AFC and CEXIM’s mutual goal of fostering economic integration and sustainable development across Africa. Through this partnership, the two institutions will work together to mobilise funding for high-impact projects, enhance trade finance solutions, and support private sector growth across the continent.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile: +234 1 279 9654
Email: yewande.thorpe@africafc.org

February 14, 2025

Mission 300: African leaders pledge to advance clean cooking solutions for Africa at milestone Energy Summit

DAR ES SALAAM, Tanzania, February 1, 2025/ — African countries have taken bold commitments to implement clean cooking energy solutions to offset the devastating effects of open fire cooking which kills roughly 600,000 women and children annually across the continent.

In energy compacts (apo-opa.co/40Fdx4z) signed during the Mission 300 Africa Energy Summit, held in Tanzania 27-28 January, 12 African countries signalled their intent to accelerate the pace of access to electricity and clean cooking solutions on the world’s fastest-growing continent, in line with the United Nations’ Sustainable Development Goal 7 and the African Union’s Agenda 2063 (apo-opa.co/40X7qK8).

Commending these countries, Tanzanian President Suluhu Hassan stated in closing remarks: “I understand that the 12 governments have only pioneered, and many others will join us in the future.” Earlier, at the opening speaking about the purpose of the summit she said, “This gathering is a platform to consolidate commitments, announce new partnerships and drive momentum towards the 2030 goal.”

The two-day meeting (apo-opa.co/40GUtCH) was organized by the Government of Tanzania and Mission 300, an unprecedented collaboration between the African Development Bank Group, the World Bank Group and global partners, to address Africa’s electricity access gap through the use of new technology and innovative financing.

Moderating a special panel on clean cooking on Monday, Rashid Abdallah, Executive Director of the African Energy Commission (AFREC) (apo-opa.co/40Es3JJ), noted that whilst 600 million Africans live without access to electricity, one billion -nearly double the number – were without access to clean cooking, relying on biomass fuels such as wood and charcoal, with severe economic, social and environmental impact. Conservative estimates put the cost of this across the continent to $790 billion a year, he noted.

Abdallah was joined by Dr. Richard Muyungi, Special Envoy to the President of Tanzania, Peter Scott, CEO of Burn Manufacturing (apo-opa.co/40Vxy8b), and Martin Kimani, CEO of M-Gas (apo-opa.co/3CtCZBZ), who each highlighted the significant health, environmental, and economic impacts of relying on polluting fuels for cooking, as well as the innovative approaches being developed to address this crisis.

Muyungi shared Tanzania’s experience in launching a comprehensive National Clean Cooking Strategy, emphasizing the importance of high-level political commitment, coordinated stakeholder engagement, and the integration of private sector participation.

He praised President Hassan’s role as a global champion bringing the issue to the highest level of African governments.

“It is important to elevate it to the highest level… She is the champion of clean cooking,” he said. He stressed: “It’s important that there is a champion who can elevate clean cooking in terms of partnerships and partner with others to address this issue. He added that Tanzania is on track to transition 80 percent of its population to clean cooking technologies by 2034, thanks to the efforts of President Hassan.

Scott, whose company Burn Manufacturing is the largest clean cooking manufacturer in Africa, discussed the diverse range of solutions being deployed across the continent, from fuel-efficient biomass stoves to cutting-edge electric cooking appliances with pay-as-you-go financing models. He stressed the availability of funding for clean cooking projects, pending the approval of carbon credit regulations by governments.

“This is the most exciting time in the history of clean cooking,” Scott declared. “Now, there’s a lot of money standing by to approve carbon credit regulations to allow carbon trading, carbon finance, to grow. “

Kimani’s pioneering pay-as-you-cook LPG model has provided an innovative and affordable solution to enable households to transition to clean cooking. He shared the success of M-Gas in onboarding half a million households in Kenya and Tanzania within just three years, demonstrating the scalability of this approach. “One of the most important considerations is affordability, how do we close that gap?” he asked.

M-Gas has found an answer by installing IOT enabled smart meters which are fixed into gas cylinders without upfront payment.

“We mirror the (pay as you go) environment they can now cook using LPG. With 35 cents they can cook three meals in a day,” he added.

Tanzania pioneers clean cooking and global awareness

Tanzania published its clean cooking strategy in 2024-2034 last year in response to its own challenges – 3,000 people dying annually and the effects of a devastating 400 hectares of deforestation annually from the use of charcoal and firewood.

Championed by President Hassan, the Clean Cooking agenda has embraced everyone and is part of the national agenda, Muyungi said. “This discussion has highlighted the innovative approaches, and the political will required to transform the lives of millions of Africans and secure a sustainable future for the continent.”

In a recognition of national efforts, awards were handed out to winners of a national clean cooking innovation challenge on the first day of the summit. The winners included creators of a biogas production plant and a click gas LPG delivery system.

The African Development Bank Group has pledged $2 billion over 10 years towards clean cooking solutions in Africa. The pledge represents an important contribution to the $4 billion per year needed to allow African families to have access to clean cooking by 2030.

“Why should anybody have to die just for trying to cook a decent meal that is taken for granted in other parts of the world,” African Development Bank President Akinwumi Adesina asked during a discussion as part of the summit. “Africa must develop with dignity, with pride. Its women, its population must have access to clean energy solutions.”

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

More image: https://apo-opa.co/40ITGkK

Contact:
Amba Mpoke-Bigg
Communication and External Relations Department
email: media@afdb.org

February 1, 2025