Africa Finance Corporation (AFC) Backs Mota-Engil Africa with EUR 100M Facility to Boost Gold Mining in West Africa
Africa Finance Corporation (www.AfricaFC.org), the continent's leading infrastructure solutions provider, today announced that it has provided a EUR 100 million, 5year term facility to Mota-Engil Africa (MEA), the regional arm of the global construction giant, Mota -Engil Group. The funding will support the acquisition of equipment, inventories, and site infrastructure for the execution of three new gold- mining contracts in Côte d'Ivoire and Mali.
AFC's funding will enable Mota-Engil Africa to scale up operations in West Africa's burgeoning mining sector, where gold remains a critical export commodity and a driver of local employment and foreign exchange earnings. The new mining contracts represent a significant boost for the mining industries in both Côte d'Ivoire and Mali, countries with substantial untapped mineral potential.
The facility is another milestone in AFC and MEA's longstanding strategic relationship with MEA, which began in 2016. AFC has played a leading advisory role in several of the institution's recent landmark transactions including the new Bugesera International Airport project in Rwanda, the US$2 billion Kano Moradi rail project in Nigeria and the 1,289km Lobito I rail line project in Angola, where AFC is acting as financial adviser to Lobito Atlantic Railway- the consortium comprising Mota Engil Africa, Trafigura and Vecturis SA.
Commenting on the transaction, Samaila Zubairu, President&CEO of Africa Finance Corporation, said:
"This transaction underscores the strength of our decade-long relationship with Mota-Engil Africa and our shared vision to deliver sustainable economic transformation across Africa. Gold continues to be a vital economic driver for many African nations, and through this investment, AFC is helping to unlock long-term value- supporting export earnings, job creation, and broader industrial development of the region.'
Manuel Mota, Chairman, Mota-Enjil Africa said: 'Today marks a significant milestone for Mota-Engil Africa. We are proud to announce the successful closing of financing for three new mining projects, in partnership with Africa Finance Corporation. This achievement reflects not only the strength of our project portfolio but also the confidence that premier institutions like AFC place in our strategy, our capabilities, and our people.'
This latest investment builds on AFC's strategy to expand its portfolio into critical contractor financing initiatives across Africa; not only supporting the execution of critical public and private sector projects but unlocking much needed on and off-balance sheet financing opportunities. Notably, AFC is also the commercial tranche financier of the 186 Metallic Bridges project being constructed by Conduril Engenharia S.A. in Angola. AFC continues to work with contractors, providing critical funding to unlock value and to close the infrastructure gap, driving industrialisation, economic resilience, and sustainable development 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
About AFC:
AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC's approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa's infrastructure development needs and drive sustainable economic growth.
Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.
www.AfricaFC.org
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