Afreximbank Annual Meetings Record Project Preparation Deals Expected to Unlock About US$1.0 Billion in Investments
The 32nd Annual Meetings of African Export-Import Bank (Afreximbank), also known as AAM2025, saw a series of impactful deal signings. Four project preparation transactions were concluded between Afreximbank and various partners, expected to catalyze investments totaling approximately US$1.0 billion.
In one notable agreement, Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development at Afreximbank, and Mrs. Temwani Simwaka, CEO of NBS Bank Plc (NBS), Malawi, signed a Joint Project Preparation Facility Framework Agreement. Under the deal, the institutions will combine resources to provide early-stage project preparation financing—taking initiatives from pre-feasibility to bankability. The partnership aims to de-risk and advance projects across sectors such as energy, transport, logistics, special economic zones, manufacturing, agro-processing, tourism, extractives, healthcare, ICT, and the creative economy.
An embedded capacity-building component will also empower NBS staff to conduct project preparation activities in the medium term. The collaboration is expected to unlock approximately US$300 million in investments in Malawi in the near term.
In Kenya, Afreximbank signed a US$4.4-million Project Preparation Facility Agreement with Med Aditus Pharmaceutical Kenya Limited. The facility will fund feasibility and bankability studies for a cutting-edge fill-and-finish pharmaceutical manufacturing plant in Kibos, Kisumu County.
The facility, with a planned output of two billion tablets and capsules annually, will help improve access to affordable, life-saving medicines across the Great Lakes region. It will also support the transfer of blockchain and manufacturing technologies to Africa. The project is projected to mobilize investments of about US$40 million.
Another agreement was signed with Green Hybrid Power Private Limited for a US$4.4-million project preparation facility to support the development of a 1-Gigawatt (GW) hybrid floating solar photovoltaic power system on Lake Kariba, Zimbabwe. The project will roll out in two phases, starting with a 500 MW pilot phase. Power will be sold under a 20-year take-or-pay agreement to the Intensive Energy Users Group, a consortium of industrial and mining clients. The initiative is expected to attract investment worth approximately US$350 million and support mineral value addition in Zimbabwe.
Afreximbank also signed a US$4.0-million Project Preparation Facility Heads of Terms Agreement with Proton Energy Limited, a Nigerian independent power producer. The funds will support feasibility studies and transaction advisory services for a 500 MW gas-fired power plant in Sapele, Nigeria, starting with an initial 150 MW. Electricity will be sold under a 20-year agreement to Eko Electricity Distribution Company. The project aims to bring online investments valued at US$300 million.
The AAM2025 event, held from June 25 to 28, drew an estimated 8,000 participants—including presidents, prime ministers, ministers, and business leaders—from Africa, the Caribbean, and beyond. It concluded with Afreximbank’s Annual General Meeting of Shareholders, during which Dr. George Elombi was appointed as the next President of the Bank, succeeding Prof. Benedict Oramah after two five-year terms.
