AFC backs Mota-Engil with over $100M to rev up gold mining

• Strategic investment deepens AFC’s influence in mining infrastructure, unlocks export potential in Côte d’Ivoire and Mali.
• Both Côte d’Ivoire and Mali possess vast untapped reserves and are primed for scalable commercial extraction.
• Latest transaction also cements AFC’s deepening partnership with Mota-Engil Africa, which began in earnest in 2016.

The Africa Finance Corporation (AFC) has extended a $113.2 million (€100 million), five-year term credit line to Mota-Engil Africa (MEA), the regional affiliate of Portuguese construction heavyweight Mota-Engil Group. The facility will finance capital expenditures including heavy equipment, inventories, and site infrastructure for the execution of three high-value gold mining contracts in Côte d’Ivoire and Mali.

This deal is poised to elevate AFC’s profile as a principal enabler of resource-led growth in West Africa. The region has become a hotbed of mineral opportunity, with gold playing a dual role as a magnet for foreign direct investment and a bedrock of foreign exchange earnings. Both Côte d’Ivoire and Mali possess vast untapped reserves and are primed for scalable commercial extraction.

Strengthening long-term strategic ties with Mota-Engil

This latest transaction also cements AFC’s deepening partnership with Mota-Engil Africa, which began in earnest in 2016. Over the past decade, AFC has assumed a critical advisory and financing role in Mota-Engil’s high-impact projects spanning multiple sectors and geographies—from the new Bugesera International Airport in Rwanda to the $2 billion Kano-Maradi rail line in Nigeria and the 1,289km Lobito Corridor in Angola.

“Gold continues to be a vital economic driver for many African nations,” said Samaila Zubairu, President and CEO of AFC. “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. Through this investment, AFC is helping unlock long-term value—supporting export earnings, job creation, and broader industrial development of the region.”

Zubairu’s comments resonate with AFC’s broader mandate to serve as Africa’s premier infrastructure solutions provider. By facilitating project de-risking and mobilizing capital, AFC is not only plugging critical financing gaps but also delivering on the continent’s ambition for industrial self-sufficiency.

A confidence signal to global markets

For Mota-Engil Africa, this financing is a vote of confidence in the company’s strategic direction and operational credibility. Manuel Mota, Chairman of Mota-Engil Africa, remarked: “Today marks a significant milestone. 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.”

The €100 million infusion positions Mota-Engil Africa to accelerate project timelines, enhance productivity, and deepen its footprint in Africa’s most dynamic mining corridors. It also sends a strong signal to global markets: Africa’s infrastructure and extractive industries remain investment-worthy even amid evolving geopolitical and economic headwinds.

Contractor financing as a growth lever

The Mota-Engil funding adds momentum to AFC’s expanding portfolio in contractor finance—an underdeveloped but increasingly essential niche in Africa’s infrastructure ecosystem. AFC’s approach, which blends off- and on-balance sheet financing, has unlocked new pathways for delivering critical infrastructure while catalyzing regional industrial development.

In addition to the Mota-Engil agreement, AFC is also serving as the commercial tranche financier for the construction of 186 metallic bridges by Conduril Engenharia S.A. in Angola. Such investments illustrate AFC’s shift toward scalable, multi-sectoral financing models designed to overcome Africa’s long-standing infrastructure deficits.

Sustainable development through resource mobilization

AFC’s strategic pivot toward extractives-driven industrialization is deeply aligned with the principles of sustainability and resilience. By supporting gold mining in Côte d’Ivoire and Mali—two economies heavily reliant on natural resources—AFC is helping build ecosystems that support inclusive growth, technology transfer, and employment.

As African nations push to diversify their economies and build more value-added industries, the role of catalytic financiers like AFC will become ever more critical. This €100 million facility could well mark the beginning of a golden chapter—not just for West African mining—but for the continent’s broader march toward economic sovereignty.

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