AFC to boost West Africa’s gold mining with €100M
The Africa Finance Corporation (AFC), has pledged €100 million to support Mota-Engil Africa’s expansion into new gold mining ventures in Côte d’Ivoire and Mali. This funding, structured as a five-year facility, will go toward acquiring mining equipment, building site infrastructure, and maintaining inventory across three upcoming gold projects.
This investment highlights AFC’s strategic focus on harnessing Africa’s natural resource wealth to drive industrialization and long-term economic growth. The corporation’s continued collaboration with Mota-Engil Africa, part of the globally recognized Mota-Engil Group reflects a productive partnership dating back to 2016. Over the years, the two organizations have teamed up on transformative infrastructure projects in sectors such as transportation, mining, and aviation.
Global demand
The funding will directly support the gold sectors of both West African nations, where mining is a vital source of foreign exchange and job creation. With stable global demand and favorable gold prices, the projects are positioned to contribute significantly to regional economic development.
AFC President and CEO Samaila Zubairu emphasized that this initiative is part of the corporation’s broader strategy to foster sustainable development through strategic partnerships and impactful investments. He noted that efficient resource utilization, local employment, and value addition are key goals of the initiative.
Echoing this sentiment, Manuel Mota, Chairman of Mota-Engil Africa, described the agreement as a milestone for the company, reinforcing its ability to deliver high-impact mining projects and its alignment with the trust of major financial institutions like AFC.
The deal also supports AFC’s broader mandate of advancing contractor financing across Africa. In addition to its role in mining, AFC has provided essential funding and advisory services for other key infrastructure projects, including the 186 Metallic Bridges program in Angola, the Bugesera International Airport in Rwanda, Nigeria’s Kano-Maradi railway, and Angola’s Lobito Corridor railway—all of which involve Mota-Engil.
Since its founding in 2007, AFC has mobilized over $15 billion in investments across 36 countries and 45 member states. The corporation has built a robust track record across key sectors such as energy, transport, natural resources, telecoms, and heavy industry.
This latest investment further solidifies AFC’s role as a driving force behind Africa’s infrastructure transformation, combining financial strength with operational experience to deliver inclusive and sustainable development across the continent.
