Afreximbank Catalyzes Over $1 Billion in Investments Through Strategic Project Agreements.

Wednesday 23rd July 2025

During the 32nd Annual Meetings of Afreximbank (AAM2025) in Abuja, the Bank signed four major project preparation agreements that are expected to unlock investments totaling approximately US$ 1 billion.

One key agreement was with NBS Bank Plc of Malawi, where the two institutions committed to a joint project preparation facility to finance early-stage development for projects in sectors such as energy, logistics, manufacturing, ICT, and tourism. The framework includes capacity building for NBS staff and aims to mobilize US$ 300 million in Malawi.

In Kenya, Afreximbank committed US$ 4.4 million to Med Aditus Pharmaceutical to fund the development of a pharmaceutical manufacturing plant in Kisumu. The plant, expected to produce two billion tablets and capsules annually, will improve medicine access in the Great Lakes region and promote health-related tech transfer.

In Zimbabwe, Afreximbank signed another US$ 4.4 million facility with Green Hybrid Power for feasibility studies on a 1-GW floating solar project on Lake Kariba. The project will begin with 500 MW and is expected to attract US$ 350 million in investment, enhancing Zimbabwe’s energy reliability and mineral processing.

Lastly, Nigeria’s Proton Energy secured a US$ 4 million agreement for the development of a 500-MW gas-fired power plant in Sapele, starting with 150 MW. Backed by a 20-year power purchase deal with Eko Electricity Distribution Company, the project aims to unlock US$ 300 million in infrastructure assets.

The AAM2025 event concluded with the appointment of Dr. George Elombi as the new Afreximbank President, succeeding Prof. Benedict Oramah after ten years of leadership.