The African Development Bank (AfDB) has approved a $75 million financing package to support the creation of Africa’s first large-scale titanium dioxide production facility in South Africa, marking a major step toward boosting the continent’s manufacturing capacity and reducing dependence on imports.
According to a statement released on Wednesday, the financing includes $25 million from the Africa Growing Together Fund — a partnership initiative between the AfDB and the People’s Bank of China. The investment is part of a larger syndicated arrangement led by the Africa Finance Corporation and the African Export-Import Bank.
AfDB Vice President for Private Sector, Infrastructure and Industrialisation, Solomon Quaynor, said the project underscores the bank’s commitment to transforming Africa’s industrial landscape. “Our goal is to shift Africa from exporting raw materials to adding value locally, building industries that compete globally,” he noted.
The facility, spearheaded by Nyanza Light Metals Pty Ltd, will be located in the Richards Bay Industrial Development Zone and is expected to produce 80,000 tonnes of titanium dioxide pigment each year. The plant will use locally and regionally sourced raw materials and create a combined 3,000 jobs during and after construction, with a strong focus on employing women and youth.
Nyanza CEO Donovan Chimhandamba described the AfDB’s support as “a milestone for Africa’s industrial revolution,” adding that the project will strengthen regional value chains and foster inclusive economic development.
Titanium dioxide is widely used in paints, coatings, plastics, cosmetics, and medical products. The new facility aims to position Africa as a competitive player in the global pigment market, ending years of reliance on costly imports.
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Source:Africa Publicity
