29 October 2026 – Daily Review of Infrastructure Financing and Investment in Africa
29 October 2026
The selection combines financing decisions with updates on infrastructure delivery. In Nigeria, new approvals for domestic road projects are distinct from the announced financing discussions for the Lagos–Abidjan corridor. In energy, Afreximbank reports a disbursement supporting an acquisition in energy product storage and distribution. In Uganda, a mission involving the World Bank is examining progress on water supply systems and the steps needed to ensure reliable services for communities.
Nigeria approves NGN 594.49 billion in road projects as five countries prepare Lagos–Abidjan financing talks
Nigeria’s Federal Executive Council approved eight road projects worth NGN 594.49 billion, including a 95 km reconstruction in Kogi State and an 81.1 km road with a bridge in Ekiti State, according to reports published on 28 October. At the same briefing, Minister of Works David Umahi announced a meeting on 30 October with counterparts from Benin, Togo, Ghana and Côte d’Ivoire to discuss potential African Development Bank financing for the approximately 1,028 km Lagos-Abidjan highway corridor. Financing arrangements for the regional corridor remain to be finalised and are subject to the bank’s procedures.
Sources: The Guardian Nigeria · Arise News
Energy Afreximbank reports USD 975 million disbursed for the management buyout of Oryx Energies
In a statement distributed by APO Group on 28 October, the African Export-Import Bank, Afreximbank, said it had disbursed a USD 975 million facility to partly finance the management buyout of Oryx Energies SA. Oryx Energies, the holding company of Addax Energy SA, supplies, stores and distributes energy products, including fuels, liquefied petroleum gas and lubricants, across more than twenty African countries. According to the bank, the transaction brings the group under majority African ownership; the facility finances a corporate acquisition, rather than an announced allocation for new infrastructure construction.
Sources: Afreximbank via APO and African Newspage · Business & Finance International · Mercado · Finimize
Uganda Mission reviews completion readiness and connections for water supply systems in the east
In a publication dated 29 October reporting on visits made on 28 October, the Ministry of Water and Environment described inspections of the Tirinyi–Kibuku–Kadama–Budaka and Bukizibu–Bumwena water supply systems, alongside the World Bank and the national water utility. The first system includes approximately 60 km of transmission pipelines, 67 km of distribution pipelines and 1,300 planned water connections; discussions with the contractor and supervising consultant focused on readiness for completion. The mission noted construction progress and emphasised the need to ensure reliable access to safe drinking water for communities, without announcing that all planned connections were operational.
Sources: Uganda Ministry of Water and Environment
Information notice
This review is prepared for information purposes using publicly available sources. The information and opinions reported are those of the cited sources and do not necessarily reflect the views or position of the Secretariat of the Infrastructure Consortium for Africa (ICA) or its members. The selection of content and references to institutions, companies or projects do not constitute an endorsement or recommendation. This review does not claim to be exhaustive; readers are encouraged to consult the original sources before making decisions or using the information.