AGP Executive Report

Renewables & Power: Africa’s wind sector has crossed an “industrial threshold” with 11.1 GW installed versus 58,400 GW onshore potential, and a pipeline of 259 planned projects (186 GW), though 85% of projects are concentrated in South Africa, Egypt and Morocco—highlighting room for West Africa and Mauritania-style markets to scale up. Climate Security Forum: Mauritania’s Prime Minister opened a high-level Sahel and Gulf of Guinea forum in Nouakchott focused on climate, peace, security and development, aiming to deepen regional cooperation. Shipping & Logistics: OBT is expanding into Mauritania to meet rising demand for port, customs, freight forwarding and project logistics across Nouakchott and Nouadhibou, including heavy-lift and last-mile delivery. Mining & Energy Investment: Aura Energy named its leadership team to move its Tiris uranium project from study to construction, with a bankable feasibility study due mid-October and a pilot plant already under way at Bir Moghrein. Agriculture & Food Systems: Mauritania’s Agriculture Minister met CILSS to advance agricultural mechanization in semi-rainfed areas to boost production and supply. Education Financing: IsDB signed an interest-free loan to build and equip higher education institutions in Kaedi (Agriculture) and Nema (Veterinary Medicine), supporting skills for future industry. Trade Links: Mauritania’s Chamber of Commerce signed a trade-boosting agreement with Senegal’s counterpart, with a planned business visit to expand exchanges.

Shipping & Logistics Expansion: OBT is opening a Mauritania operation to serve rising mining, offshore, infrastructure and energy demand, offering shipping agency, freight forwarding, customs clearance, heavy-lift, warehousing and last-mile delivery for Nouakchott and Nouadhibou. Trade & Regional Commerce: The Mauritanian Chamber of Commerce signed an agreement with Senegal’s counterpart to boost bilateral trade, alongside a planned business visit to Mauritania. Energy & Power Projects: Mauritania signed a concessional loan with France to build 10 solar power stations with storage, aiming to cut rural-urban service gaps and support electricity rollout. Agriculture Modernization: Mauritania’s agriculture minister met CILSS to review strategy for agricultural mechanization in semi-rainfed areas to raise production. Higher Education Funding: The Finance Minister signed an IsDB interest-free loan to support two new higher education institutions: Agriculture in Kaedi and Veterinary Medicine in Nema. Mining & Uranium Development: Aura Energy named its leadership team to advance the Tiris uranium project in Mauritania, with the BFS due mid-October and pilot plant construction already underway. Energy Sector Oversight: The energy minister urged contracting service companies to speed up project delivery or face contract withdrawal for delays.

Shipping & Logistics: OBT expands into Mauritania, adding shipping agency, freight forwarding, customs clearance, heavy-lift, warehousing and last-mile delivery to support Nouakchott and Nouadhibou as mining and project logistics demand grows. Trade & Chambers: The Mauritanian Chamber of Commerce signs a protocol with Senegal’s counterpart to boost bilateral trade, with a follow-up business visit planned. Energy Finance: Mauritania’s clean power push gets a boost as France and Mauritania sign a concessional loan for 10 solar power stations with storage, aimed at cutting rural-urban service gaps. Public Finance: The Council of Ministers approves an Amending Finance Bill for 2024, targeting faster delivery of major projects and improved budget allocation. Agriculture & Mechanization: Mauritania’s agriculture ministry meets CILSS to review strategy for agricultural mechanization in semi-rainfed areas to raise production supply. Mining & Equipment: Hitachi Construction Machinery Europe reshuffles its dealer network, with Movicortes expanding coverage to include Mauritania and a direct support presence planned for mining customers. Uranium Development: Aura Energy names its leadership team to advance the Tiris uranium project in Mauritania, with the BFS due mid-October and financing targeted by end-2026. Education Investment: IsDB signs an interest-free loan in Nouakchott to build and equip higher education institutions in agriculture (Kaedi) and veterinary medicine (Nema).

Shipping & Logistics Expansion: OBT is opening in Mauritania to serve rising mining, energy and offshore project logistics needs, offering shipping agency, freight forwarding, customs clearance, heavy-lift, warehousing and last-mile delivery for Nouakchott and Nouadhibou. Trade Facilitation: The Mauritanian Chamber of Commerce, Industry and Agriculture signed an agreement with Senegal’s chamber to boost bilateral trade, with a business visit planned to follow up. Public Finance: The Council of Ministers approved an Amending Finance Bill for 2024, aiming to align budget policy with the “My Ambition for the Homeland” programme, unblock major projects and fund priority social programmes. Agriculture & Food Systems: Mauritania’s agriculture ministry met CILSS to review agricultural mechanization strategy for semi-rainfed areas to strengthen production and supply. Energy & Power Infrastructure: France and Mauritania signed a concessional loan to build 10 solar power stations with storage, targeting wider rural access and reducing urban-rural gaps. Mining & Uranium Pipeline: Aura Energy named its leadership team to advance the Tiris uranium project in Mauritania, with the BFS due mid-October and pilot plant construction already under way. Higher Education Investment: IsDB signed an interest-free loan to build and equip new higher education institutions in Kaedi (Agriculture) and Nema (Veterinary Medicine). Local Industry Oversight: The energy minister warned contractors that delays could trigger contract withdrawal, stressing quality, standards and deadline compliance.

Energy & Gas Finance: Nigeria’s NNPC says it committed ₦473.8bn in 2025 to gas infrastructure via its NGIC unit, backing the Nigeria–Morocco Gas Pipeline cash calls, an equity injection into Anoh Gas Processing, and the AKK pipeline—while ₦25.7bn interest remained outstanding and ₦14.4bn undrawn. Regional Energy Integration: Algeria’s NEPAD summit message highlighted cross-border corridors including the Trans-Saharan Highway, Tindouf–Zouerate road to Mauritania, trans-Saharan fiber, and the Trans-Saharan Gas Pipeline. West Africa Power & Gas Partnerships: Algeria’s Sonelgaz signed two MoUs with Senegal’s Senelec to transfer know-how and support electricity and gas infrastructure, including equipment and training. Mauritania Clean Energy Push: Mauritania signed a concessional loan agreement with France to build 10 solar power stations with storage, aimed at narrowing rural-urban service gaps. Agriculture & Drought Resilience: Mauritania’s agriculture ministry met CILSS to review agricultural mechanization strategy for semi-rainfed areas to boost production in rainfed zones. Uranium Development in Mauritania: Aura Energy named its Tiris “dream team” as the BFS is due mid-October and project financing is targeted by end-2026, with construction of the Bir Moghrein pilot plant already underway. Private Sector Linkages: Mauritania and Morocco’s business forum ended with a recommendation to form technical committees to speed up urgent projects like fishing and agriculture.

Mauritania Energy & Infrastructure: Mauritania is moving to lock in its energy future as the President says the country has adopted an integrated energy strategy and joined the Gas Exporting Countries Forum as an observer ahead of planned LNG exports from the Great Ahmeim turtle field. Power Projects: France and Mauritania signed a concessional loan to build 10 solar power stations with storage, aiming to narrow rural-urban gaps and create jobs. Oil & Gas Sector Push: The Energy Minister warned contractors in Nouakchott to speed up delivery or face contract withdrawal, stressing service quality and deadlines. Mining & Equipment Market: Hitachi Construction Machinery Europe is reshaping its dealer network across West and Central Africa, expanding Movicortes coverage to include Mauritania and setting up direct support for mining customers. Uranium Development: Aura Energy named its leadership team to take the Tiris uranium project from study to construction, with the BFS due mid-October and a pilot plant already under way at Bir Moghrein. Agriculture & Food Security: The Agriculture Minister met CILSS to advance agricultural mechanization for semi-rainfed areas, while Mauritania’s agriculture leadership reiterated priorities around food sovereignty and resilience. Education Financing: IsDB signed an interest-free loan to fund new higher education institutions in agriculture (Kaédi) and veterinary medicine (Néma).

Energy & Industry Value: A new energy debate is pushing Africa to measure success by what investment builds locally—not just exports—highlighting engineering, skills, jobs and new industries as the real “energy moment.” Regional Infrastructure for Trade: Algeria’s NEPAD summit push spotlighted the Trans-Saharan Highway, the Tindouf–Zouerate road link to Mauritania, trans-Saharan fiber and the Trans-Saharan Gas Pipeline—aimed at faster cross-border commerce and integration. Power Sector Deals: Sonelgaz signed two MoUs with Senegal’s Senelec to expand West African electricity and gas cooperation, including engineering, equipment and training—sparking discussion on regional energy footprint. Mauritania Clean Power Finance: Mauritania and France agreed a €39.2m concessional loan to build 10 solar power stations with storage, targeting wider rural access and reducing urban-rural gaps. Agriculture Mechanization: Mauritania’s agriculture ministry met CILSS to advance mechanization in semi-rainfed areas to boost rainfed production. Uranium Project Teaming Up: Aura Energy named its leadership for Mauritania’s Tiris uranium push, with the BFS due mid-October and pilot plant construction already under way. Energy Contract Enforcement: Mauritania’s energy minister warned contractors that delays could trigger contract withdrawal, with performance and deadlines closely monitored. Mining & Logistics Links: Hitachi Construction Machinery Europe is reshaping its dealer network across West/Central Africa, expanding coverage that includes Mauritania—aimed at better mining customer support.

Energy Diplomacy: Algeria’s state energy group Sonelgaz signed two memorandums with Senegal’s Senelec, aiming to bring Algerian engineering, equipment and training into Senegal’s power and gas infrastructure—an expansion that already includes Mali, Niger, Cameroon, Benin and Mauritania. Clean Power Finance: Mauritania signed a concessional loan agreement with France to fund 10 solar power stations with storage, targeting reduced rural-urban electricity gaps and more jobs. Uranium Project Build-Up: Aura Energy named its leadership team to move the Tiris uranium project from study to construction, with the BFS due mid-October and pilot plant work under way at Bir Moghrein. Agriculture Mechanization: Mauritania’s agriculture ministry met CILSS to review strategy for agricultural mechanization in semi-rainfed areas to boost rainfed production. Energy Sector Delivery Pressure: Mauritania’s energy minister urged contractors to speed up ministry-linked projects, warning of contract withdrawal for delays and poor performance. Mining Equipment Distribution: Hitachi Construction Machinery Europe reshuffled its dealer network across Northwest and Central West Africa, expanding coverage to include Mauritania for mining-focused support.

Higher Education Finance: Mauritania’s Finance Minister Isselmou Ould Mohamed M’Badi signed an interest-free IsDB loan of 14.8m Islamic dinars (over 740m ouguiyas) in Nouakchott to build and equip two new higher-education institutions: an Agriculture Higher School in Kaédi and a Veterinary Medicine Higher School in Nema. Clean Power Build-Out: Mauritania and France signed a concessional €39.2m deal to finance 10 solar power stations with storage, aimed at cutting the rural-urban access gap and creating jobs. Energy Execution Pressure: The Energy Minister in Nouakchott urged contracting service companies to speed up delivery, warning that delays could trigger contract withdrawal and cancellations. Uranium Project Team-Up: Aura Energy named its leadership for the Tiris uranium project in Mauritania, with a bankable feasibility study due mid-October and project financing targeted by end-2026; pilot plant work at Bir Moghrein is already under way. Mining & Equipment Support: Hitachi Construction Machinery Europe is reshuffling its dealer network across West and Central Africa, expanding direct support in Mauritania and Morocco for mining customers. Oil & Gas Diplomacy: President Mohamed Ould Cheikh El Ghazouani met Kosmos Energy to discuss operations in Mauritania and the wider energy outlook. Ports & Trade Security: The US Coast Guard delegation met Mauritanian officials to strengthen seaport cooperation, including visits planned to Nouadhibou and Nouakchott ports. Agriculture Mechanization: The Agriculture Minister met a CILSS delegation to review cooperation on agricultural mechanization for semi-rainfed production. Fishing Agreement Watch: Spain asked the EU to intensify talks to renew the Mauritania fishing protocol before it expires mid-November, warning its fleet could be pushed out of key grounds.

Energy & Power Finance: Mauritania signed a €39.2m concessional loan with France to build 10 solar power stations with storage, aiming to cut rural-urban service gaps and support jobs. Higher Education & Agriculture Skills: In Nouakchott, the Finance Minister signed an IsDB interest-free loan of 14.8m Islamic dinars (over 740m ouguiyas) to create and equip a Higher School of Agriculture in Kaédi and a Higher School of Veterinary Medicine in Nema. Uranium Project Build-Up: Aura Energy named its Tiris “build team” as the BFS is due mid-October, with project financing targeted by end-2026 and pilot plant construction already under way at Bir Moghrein. Mining & Equipment Supply Chains: Hitachi Construction Machinery Europe is reshaping its dealer network across West and Central Africa, expanding coverage for mining customers in Mauritania and Morocco. Oil & Gas Sector Push: The Energy Minister warned service contractors in Nouakchott to speed up delivery or face contract withdrawal, stressing quality and deadlines. Ports & Trade Security: A US Coast Guard delegation met Mauritania’s fisheries and port ministry to discuss seaport cooperation, including visits to Nouadhibou and Nouakchott ports. Regional Food Systems: The Agriculture Minister met a CILSS delegation to review agricultural mechanization strategy for semi-rainfed production.

Rare Earths & Copper Markets: Meteoric Resources’ Lynas takeover looks like a clean exit, but mining watchers say rival bidders (including POSCO) could still emerge; meanwhile copper producers stalled and prices stayed near record levels. Mauritania Finance for Agriculture Education: In Nouakchott, the Finance Minister signed an interest-free IsDB loan worth about €14.8m (over 740m ouguiyas) to build and equip a Higher School of Agriculture in Kaédi and a Higher School of Veterinary Medicine in Néma. Uranium Project Build-Up: Aura Energy named its “dream team” for the Tiris uranium project; BFS is now due mid-October, with project financing targeted by end-2026 and a pilot plant already under way at Bir Moghrein. Energy Delivery Pressure: Mauritania’s energy ministry urged contractors to accelerate projects, warning of contract withdrawal for delays and poor performance. Solar Power Deal: France and Mauritania signed a concessional loan to finance 10 solar power stations with storage, aimed at cutting rural-urban service gaps. Mining & Ports Support: Hitachi reshaped its dealer network across West and Central Africa, expanding direct support in Morocco and Mauritania for mining customers; separately, the US Coast Guard met Mauritanian officials to boost seaport cooperation. Agriculture Mechanization & Sahel Links: The Agriculture Minister met a CILSS delegation to review strategy for agricultural mechanization in semi-rainfed areas to raise production in rainfed zones.

Uranium Development: Aura Energy named a “dream team” to advance its Tiris uranium project in Mauritania, with John Carr set as president, Fortescue executive Spencer Davey joining as CFO, and Jeremy Carter as chief strategy officer; the bankable feasibility study is now due mid-October, with project financing targeted for end-2026 and pilot plant construction under way at Bir Moghrein. Clean Power Finance: Mauritania and France signed a concessional loan in Nouakchott for €39.2m to build 10 solar power stations with storage, aimed at cutting the rural-urban electricity gap and supporting broader rural development and jobs. Energy Execution Pressure: The Minister of Energy urged contractors and energy-sector partners to accelerate project delivery, warning that delays could trigger contract withdrawals and cancellations. Gas Strategy & Exports: President Ghazouani said Mauritania joined the Gas Exporting Countries Forum as an observer ahead of LNG exports from the Great Ahmeim field by end-2026, framing it within an integrated energy strategy. Mining & Equipment Support: Hitachi Construction Machinery Europe reshaped its dealer network across West and Central Africa, expanding coverage to include Mauritania and setting up direct presence to support mining customers. Ports & Trade Links: Mauritania hosted discussions with the US Coast Guard on strengthening seaport cooperation, including planned visits to Nouadhibou and Nouakchott ports. Private-Sector Integration: The Mauritanian-Moroccan business forum ended with a push for joint technical committees to speed up urgent investment projects in areas like fisheries and agriculture.

Energy Infrastructure Finance: Mauritania and France signed a €39.2m concessional loan to build 10 solar power stations with storage, targeting wider rural access and cutting the rural-urban service gap. Energy Sector Execution: The Energy Minister warned contracting service companies to speed up ministry projects or face contract withdrawal, stressing quality and deadline compliance. Gas Strategy & Exports: President Ghazouani said Mauritania is preparing for LNG exports from the Great Ahmeim turtle field by end-2026 and is positioning the country via an integrated low-carbon energy strategy. Hydrogen & Renewables Cooperation: Ghazouani met Kuwait’s Crown Prince, highlighting Mauritania’s green hydrogen potential and inviting Kuwaiti renewable-energy know-how and investment. Oil & Gas Engagement: Kosmos Energy met the President in Nouakchott, alongside energy officials, as talks continue on sector opportunities. Mining & Equipment Support: Hitachi Construction Machinery Europe reshuffled its West/Central Africa dealer network, expanding coverage for mining customers via direct presence in Morocco and Mauritania. Agriculture Priorities: The Agriculture Minister pushed food sovereignty goals with a focus on making farming profitable, boosting resilience, and improving competitiveness. Trade & Transport Links: Morocco and Mauritania agreed to rehabilitate and widen the 480-km Nouakchott–Nouadhibou road to ease trade flows and move goods faster. Ports & Maritime Security: A US Coast Guard delegation discussed seaport cooperation and planned visits to Nouadhibou and Nouakchott ports. EU Support for Displacement: The EU announced nearly €710m for displaced communities and crisis relief, including €140m for Eastern Mauritania.

Gas & Infrastructure Finance: Morocco is seeking private and multilateral funding for its $25bn Atlantic Gas Pipeline ahead of a Q4 2026 investment decision, aiming to move up to 30 bcm/year across 13 countries, with staged links that could connect Morocco with gas resources in Mauritania and Senegal; construction is targeted for 2028 and first gas for 2031. Execution Over Reserves: A Schneider Electric West Africa executive says West Africa’s gas race is shifting from finding reserves to delivering projects fast, safely, and reliably—an issue highlighted by Nigeria’s Ima gas development moving toward first gas in late 2028. Mauritania Energy Diplomacy: President Mohamed Ould Cheikh El Ghazouani met Kosmos Energy in Nouakchott, alongside the energy minister, as Mauritania continues to court upstream partners. Oil & Gas Tech Push: Mauritania’s petroleum ministry and SMH are taking part in Houston’s offshore oil and gas technologies conference, pitching Mauritania’s investment climate and offshore potential. Road & Trade Connectivity: Morocco and Mauritania signed an agreement to rehabilitate and widen the 480-km Nouakchott–Nouadhibou road corridor to boost trade and transport flows. Fishing Agreement Pressure: Spain urged the EU to intensify talks to renew the Mauritania fishing protocol before its mid-November expiry, warning its fleet could be pushed out. Ports & Maritime Security: The US Coast Guard met Mauritanian fisheries and port officials and plans visits to Nouadhibou and Nouakchott ports. Private Sector Linkages: The Mauritanian-Moroccan business forum backed technical committees to fast-track urgent projects in fisheries and agriculture and improve coordination between investors. Mining & Capital Markets: First Quantum announced its upcoming Q3 2026 results date; the company operates in Mauritania.

Energy & Investment Diplomacy: President Mohamed Ould Cheikh El Ghazouani met Kosmos Energy in Nouakchott, with the Energy and Petroleum minister present, as talks focus on Mauritania’s oil and gas opportunities. Oil & Gas Capacity Building: Mauritania’s delegation is taking part in Houston’s offshore oil and gas technologies conference, aiming to attract investors and showcase its investment climate. IFC Private-Sector Finance: An IFC delegation met the President to discuss cooperation, including strategies to create private-sector jobs for women and financing opportunities in banking and SMEs. Ports & Maritime Security: The Fisheries minister met a US Coast Guard delegation to strengthen seaport cooperation, with planned visits to Nouadhibou, SNIM’s mineral port, and Nouakchott’s Port of Friendship. Bilateral Trade & Infrastructure: Morocco and Mauritania signed a framework to rehabilitate and widen the 480-km Nouakchott–Nouadhibou road, targeting smoother transport of food, construction materials, industrial equipment and consumer goods. Fishing Agreement Pressure: Spain urged the EU to intensify negotiations to renew the Mauritania fishing protocol before mid-November to avoid losing access for its fleet. Mining & Jobs Watch: First Quantum announced its upcoming Q3 2026 results, while Montage Gold reported first gold pour at its Koné mine in Côte d’Ivoire, signaling regional momentum in extractives. Diaspora Trade Link: The new Mauritania–Canada Chamber of Commerce and Industry (CMCCI) launched in Montreal to turn a 4,000-strong diaspora into an economic lever beyond gold-heavy trade.

Dividend & Housing Finance: Mixta Africa shareholders approved a N12.60 dividend at its 18th AGM, alongside a jump in property sales and profits, while the firm delivered 152 affordable homes in Lagos with mortgage financing at 9.75% via MREIF. EU Support & Mobility: The EU pledged nearly €710m for displaced people and crisis relief, including €380m in extra migration-related financing for Sub-Saharan Africa and €140m for Eastern Mauritania migration management and host-community support. Fisheries Negotiations: Spain urged the EU to intensify talks to renew the Mauritania fishing agreement before its mid-November expiry, warning its fleet could be pushed out of key tuna grounds. Water & Irrigation Delivery: The African Water Facility says its 148 water and sanitation projects improved access for 23.2m people, added sanitation for 11.3m, and equipped 2m hectares for irrigation. Gas Execution Focus: West Africa’s gas race is less about reserves and more about speed, safety, and sustained production efficiency—key for attracting capital and long-term buyers. Road & Trade Links: Morocco and Mauritania signed a framework to rehabilitate and widen the 480-km Nouakchott–Nouadhibou road corridor to boost trade flows. Energy Leadership Recognition: Mauritania’s Energy and Petroleum minister Mohamed Ould Khaled received an African Leadership Excellence Award for energy leadership and strategic resource governance. Green Ammonia Push: GreenGo Energy and Shuangliang signed an MoC to advance large-scale green ammonia projects in Mauritania toward bankable FEED and investment-ready studies. Extractives Transparency: EITI praised Mauritania’s extractive-industry transparency, highlighting forecasting work for gas and green hydrogen revenues and leadership on compliance. Diaspora Trade Boost: The new Mauritania Canada Chamber of Commerce and Industry (CMCCI) aims to turn a 4,000+ strong diaspora into a broader economic lever beyond gold-dominated trade.