Africa Finance Corporation (AFC), one of Africa’s premier infrastructure finance institutions, has announced a €100 million investment to support the expansion of Mota-Engil Africa’s mining operations in Côte d’Ivoire and Mali. The five-year facility is set to finance equipment acquisition, inventory, and site infrastructure for three new gold mining projects, reflecting AFC’s deepening commitment to unlocking Africa’s mineral wealth and advancing sustainable industrial growth across the continent.
This strategic funding marks another high point in the longstanding partnership between AFC and Mota-Engil Africa, the African subsidiary of global construction and engineering powerhouse, Mota-Engil Group. Since 2016, the two organisations have collaborated on multiple transformative projects across Africa, including aviation, rail infrastructure, and mining.
The newly announced financing targets West Africa’s growing gold mining sector—a critical revenue source for Côte d’Ivoire and Mali. Gold not only drives foreign exchange inflows but also supports job creation and value-chain development in both countries. With global gold prices remaining strong and demand for the precious metal steady, this initiative positions Mota-Engil to scale operations and meet regional mining needs more efficiently.
Deepening Infrastructure Ties in Africa
Commenting on the announcement, AFC President and CEO Samaila Zubairu underscored the corporation’s commitment to long-term, strategic investments that support Africa’s broader economic transformation.
“This transaction reinforces our nearly decade-long relationship with Mota-Engil Africa and reflects our shared ambition to fuel sustainable development,” Zubairu said. “Gold continues to be a key economic engine for many African nations. Our investment ensures that the region can harness this resource more effectively—boosting export income, creating local jobs, and strengthening industrial linkages.”
Mota-Engil Africa Chairman, Manuel Mota, praised the partnership, stating: “The successful financing of three gold mining projects through AFC is a milestone that highlights our operational strength and the faith that major institutions place in our regional strategy. This funding will accelerate our ability to deliver high-impact projects in the mining sector.”
Supporting Broader Development Goals
This investment aligns with AFC’s strategy to expand its presence in contractor financing across Africa. Beyond mining, AFC continues to support diverse sectors, helping contractors close funding gaps that hinder infrastructure delivery. A notable example includes its commercial financing support for the 186 Metallic Bridges project in Angola, led by Conduril Engenharia S.A.
AFC has also played pivotal advisory roles in large-scale infrastructure ventures, such as the new Bugesera International Airport in Rwanda, Nigeria’s $2 billion Kano-Maradi rail project, and the Lobito Corridor railway in Angola—projects in which Mota-Engil is a key player.
A Track Record of Impact
Founded in 2007, AFC has grown into a continental force, financing critical infrastructure projects that promote resilience, industrialisation, and inclusive growth. With investments exceeding $15 billion across 36 African countries and 45 member states, the Corporation has built a strong track record in sectors including power, transport, heavy industry, natural resources, and telecommunications.
This latest partnership with Mota-Engil Africa is a testament to AFC’s mission—to serve as a catalyst for pragmatic infrastructure investment, combining financial expertise with a strong operational track record to build a more prosperous Africa.
