Latest news with #Lobito
Zawya
09-06-2025
- Business
- Zawya
Nigeria: Africa Finance Corp to sign $320mln deal with Italy to bolster Lobito funding
Africa Finance Corporation, a Lagos-based continental financier, will sign a deal with Italy for $320m financing partly for a new transport corridor linking critical mineral fields with an Angolan port, its chief executive said on Thursday, 5 June 2025. AFC, which is owned by African central banks and development lenders, is the financing partner for the United States-backed rail and road corridor linking the Angolan port of Lobito on the Atlantic coastline with Zambia and the Democratic Republic of the Congo, where the minerals are mined. "The government of Italy has continued to express their support for the project. There will be a signing event of the facility that they are going to advance for the project," Samaila Zubairu noted in an interview after the launch of the financier's annual Africa infrastructure report. There will also be a meeting in Rome focusing on the Lobito corridor project as it is known, in the coming weeks, he added. The Lobito rail corridor is a project to help transport critical minerals from the central African copperbelt to the West and is considered key in countering Chinese control over copper and cobalt supplies in the region. Some of the cash from the Italian government will go towards AFC's regular lending operations, he said, without giving a precise split. AFC, which usually aims to raise $2-3bn every year, has raised more than $1bn this year so far, and it is looking to raise roughly $1bn more via a syndication facility soon, Zubairu said. "We have a huge syndication that we are launching shortly," he said, without providing more information.
Reuters
05-06-2025
- Business
- Reuters
Africa Finance Corp to sign $320 million deal with Italy to bolster Lobito funding
NAIROBI, June 5 (Reuters) - Africa Finance Corporation, a Lagos-based continental financier, will sign a deal with Italy for $320 million financing partly for a new transport corridor linking critical mineral fields with an Angolan port, its chief executive said on Thursday. AFC, which is owned by African central banks and development lenders, is the financing partner for the United States-backed rail and road corridor linking the Angolan port of Lobito on the Atlantic coastline with Zambia and the Democratic Republic of the Congo, where the minerals are mined. "The government of Italy has continued to express their support for the project. There will be a signing event of the facility that they are going to advance for the project," Samaila Zubairu told Reuters in an interview after the launch of the financier's annual Africa infrastructure report. There will also be a meeting in Rome focusing on the Lobito corridor project as it is known, in the coming weeks, he added. The Lobito rail corridor is a project to help transport critical minerals from the central African copperbelt to the West and is considered key in countering Chinese control over copper and cobalt supplies in the region. Some of the cash from the Italian government will go towards AFC's regular lending operations, he said, without giving a precise split. AFC, which usually aims to raise $2-3 billion every year, has raised more than $1 billion this year so far, and it is looking to raise roughly $1 billion more via a syndication facility soon, Zubairu said. "We have a huge syndication that we are launching shortly," he said, without providing more information.
Arabian Business
27-05-2025
- Business
- Arabian Business
Dubai's Invictus acquires majority stake in Angolan fertiliser company
Dubai-headquartered Invictus Investment Company is strengthening its position in Africa and making its third major acquisition in the continent when it signed an agreement to acquire a 65 per cent stake in Angata, a leading fertiliser blending company in Lobito, Angola. In the recent past, , and a 60 per cent stake in Graderco, a Moroccan agro-trading company. The acquisition, being made through Mauritius-based Dagro Chemical Limited, is subject to regulatory approvals and transaction closing mechanisms. The financial details of the deal were not disclosed. Angata specialises in customised fertiliser blending and tailors its products to the specific soil and crop requirements of farmers across different regions of the country. It has a production capacity of 100,000 metric tonnes per annum, with plans to increase capacity by the end of 2025. Its product range addresses critical crop nutrition needs, including urea, phosphates like diammonium phosphate (DAP), potassium, trace elements and boron. In addition to its core fertiliser business, Angata also imports and resells pesticides and other essential products for productive farming. Invictus strengthens African presence The acquisition opens a new area of business for Invictus Investment and marks a strategic entry point into the agricultural and agro-input industry in Angola, a key market in Africa with significant growth potential. Amir Daoud Abdellatif, CEO of Invictus Investment, commented: 'Our acquisition of Angata marks another major milestone in our continued expansion in Africa following our earlier transactions in Mozambique and Morocco. 'It also signals a strategic shift. It broadens our capabilities beyond trading into the agro-input segment where we can directly support farmers and strengthen the ecosystems that feed regional and global supply chains. Angata's fertiliser blending expertise addresses a critical gap in farm productivity and gives us a direct connection to farmers. We see it as a strategic base for us to source and process more commodities in Angola and cater to both local consumption and export markets.' Angata's strategic location also provides an attractive opportunity. The Lobito corridor links Angola to the Atlantic coast, and the city has rail connections extending into the mineral-rich regions of the Democratic Republic of Congo. The company can become a strategic hub to serve farmers in surrounding markets. Christian Louvet, Director General, Angata, added: 'We are pleased to be working with Invictus Investment and view this partnership as a catalyst for long-term growth. Invictus Investment brings the reach and operational capabilities needed to scale the business and broaden our impact in the region. 'The focus now is on expanding what we do well, helping farmers grow their productivity and playing a stronger role in Angola's agricultural economy.'
Zawya
26-05-2025
- Business
- Zawya
Invictus Investment acquires majority stake in Angolan fertiliser blender Angata
Acquisition represents strategic entry into the agricultural and agro-input business in key African market of Angola Angata specialises in tailored fertiliser blending and customises products based on local soil requirements Transaction marks Invictus Investment's third major acquisition in Africa, following the purchase of Mozambique's largest flour miller Merec Industries and a 60% stake in Moroccan agro-trading leader Graderco Dubai, United Arab Emirates: Invictus Investment Company Plc (ADX: INVICTUS), a leading agro-food enterprise in the Middle East and Africa, today announced it has signed an agreement to acquire a 65% stake in Angata, a leading fertiliser blending company based in Lobito, Angola. The acquisition, being made through Mauritius-based Dagro Chemical Limited, is subject to regulatory approvals and transaction closing mechanisms. The deal marks Invictus Investment's third major acquisition in Africa, following the purchase of Merec Industries – Mozambique's largest flour milling company – and a 60% stake in Moroccan agro-trading leader Graderco. While representing a new business area for Invictus Investment, this transaction marks a strategic entry point into the agricultural and agro-input industry in Angola – a key market in Africa with significant growth potential. Angata specialises in customised fertiliser blending and tailors its products to the specific soil and crop requirements of farmers across different regions of the country. The company has a production capacity of 100,000 MT per annum with plans to increase capacity by the end of 2025. Its product range addresses critical crop nutrition needs, including urea, phosphates like di-ammonium phosphate (DAP), potassium, trace elements and boron. In addition to its core fertiliser business, Angata also imports and resells pesticides and other essential products for productive farming operations. From a location perspective, the company presents an attractive opportunity with its base in the strategic Lobito corridor that links Angola to the Atlantic coast. Lobito also has rail connections extending into the mineral rich regions of the Democratic Republic of Congo. This positions Angata as a strategic hub to serve farmers in surrounding markets. Commenting on the announcement, Amir Daoud Abdellatif, CEO of Invictus Investment, said: 'Our acquisition of Angata marks another major milestone in our continued expansion in Africa following our earlier transactions in Mozambique and Morocco. It also signals a strategic shift – broadening our capabilities beyond trading into the agro-input segment where we can directly support farmers and strengthen the ecosystems that feed regional and global supply chains. Angata's fertiliser blending expertise addresses a critical gap in farm productivity and gives us a direct connection to farmers. We see it as a strategic base for us to source and process more commodities in Angola and cater to both local consumption and export markets.' Christian Louvet, Director General, Angata, said: 'We are pleased to be working with Invictus Investment and view this partnership as a catalyst for long term growth. Invictus Investment brings the reach and operational capabilities needed to scale the business and broaden our impact in the region. The focus now is on expanding what we do well, helping farmers grow their productivity and playing a stronger role in Angola's agricultural economy.' Looking ahead, Invictus Investment remains focused on furthering its long-term growth strategy through strategic investments in key African markets, targeting the acquisition of majority stakes in leading ventures as it works towards its goal of becoming a fully integrated agro-food enterprise. *Please refer to for more information. About Invictus Investment Invictus Investment Company PLC, established in March 2022 and headquartered in Dubai, is a leading holding entity primarily focusing on agro-food commodities through its main subsidiary, Invictus Trading FZE, founded in February 2014. Initially offering procurement services that supplied raw materials and finished goods such as wheat in the MENA region, the company has since expanded its commodity portfolio to include a diverse range of products such as barley, corn, cotton, Distiller's Dried Grains with Solubles (DDGS), fertilisers, groundnuts, meat, sesame, soya bean, soya bean hulls, soya bean meal, sugar, vegetable oil and wheat flour. Today, Invictus Investment operates across 54 countries with a broad sourcing network and a focus on midstream and downstream acquisitions in the value chain, with the aim of becoming a fully integrated agro-food enterprise in the commodity trading sector across the Middle East and Africa. For media inquiries, please contact: Raneem Abudaqqa Senior Consultant | Tales & Heads E:
Russia Today
21-05-2025
- Health
- Russia Today
Chevron oil platform catches fire off Angola coast
A fire erupted early Tuesday morning on the Benguela Belize Lobito Tomboco (BBLT) offshore oil platform off the coast of Angola, injuring 17 workers during scheduled maintenance operations, according to the country's oil and gas regulator. The blaze broke out at approximately 3am local time on the basement deck of the multi-level structure. Operated by Cabinda Gulf Oil Company Limited (CABGOC), a subsidiary of US energy giant Chevron, the facility was undergoing routine annual maintenance at the time. 'The cause of the fire is currently under investigation,' Angola's National Agency of Oil, Gas and Biofuels (ANPG) said in a statement, noting that CABGOC teams responded promptly and were able to successfully extinguish the flames. ANPG added that production at the site had been halted since May 1 as part of planned maintenance activities. All injured personnel were airlifted to onshore medical facilities for treatment. According to Jornal de Angola, six individuals were transported to the Sacred Hope Clinic in Luanda, where four remain in critical condition and two others are reported to be in very serious condition. An additional four victims are receiving care at Cabinda's General Hospital, where an acting clinical director stated that the patients had sustained mild burns. Speaking to Polygraph Africa, Cabinda's provincial health secretary, Ruben Buco, confirmed that several victims of the explosion were being treated at local healthcare centers. He reported no fatalities as of Tuesday, although medical evaluations were still underway. However, by Wednesday, Reuters reported – citing a statement from Chevron – that one person was missing in the aftermath of the fire. The BBLT, a drilling production platform situated approximately 60 miles (96.5 km) offshore from Cabinda, houses living quarters for up to 157 personnel.
