Staff Writer
The board of directors of the African Development Bank Group has approved US$75 million in financing to support South Africa-based Nyanza Light Metals Pty Ltd (Nyanza) in advancing Africa’s industrialisation through local value addition to its titanium mineral resources.
Titanium dioxide is a key pigment used in paints, coatings, food processing, cosmetics, and medical products. Despite strong demand, manufacturers in South Africa and across the region still depend on expensive imports.
Nyanza’s project aims to change this by producing titanium dioxide locally, reducing import reliance and placing Africa within the global titanium value chain.
The African Development Bank’s financing includes US$25 million from the Africa Growing Together Fund, a co-financing initiative with the People’s Bank of China.
The funding will support the development, construction, and operation of an 80 000-tonne-per-year titanium dioxide pigment manufacturing plant within the Richards Bay Industrial Development Zone.
The facility will process locally and regionally sourced titanium ores into high-value pigment for industrial use.
The Bank’s contribution is part of a larger syndicated funding package arranged by the Africa Finance Corporation and the African Export-Import Bank, acting as Initial Mandated Lead Arrangers and Bookrunners.
The project is expected to create more than 2 400 domestic jobs during construction, with 30% reserved for women and 30% for youth. Once operational, the plant will generate up to 850 skilled direct jobs, with targets of 45% women, 30% youth, and 20% low-income earners.
This will support job creation and inclusive growth in South Africa’s industrial sector.
“This investment reflects the African Development Bank’s commitment to driving Africa’s industrial transformation and changing Africa’s narrative from a continent that is heavily dependent on raw material exports to one that is globally recognised as a prominent player in domestic value-addition to its natural resources,” said Solomon Quaynor, the Bank’s Vice President for Private Sector, Infrastructure and Industrialisation.
Nyanza president and CEO Donovan Chimhandamba said the approval was a major step for both the company and the continent.
“AfDB’s approval marks a pivotal moment, not just for Nyanza, but for Africa’s industrial future. AfDB brings more than funding; it brings credibility, strategic partnership, and a long-term commitment to Africa’s transformation. This endorsement affirms our mission to lead mineral beneficiation and positions Nyanza as a driver of inclusive industrialisation.”
He added, “Africa has long exported raw minerals, only to import back high-value finished products made from those same resources, at a premium. This cycle has constrained industrial growth and limited the continent’s ability to fully benefit from its natural wealth.”
