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West African Investment Bank Injects 390 Million USD: Energy, Mining, and Infrastructure at the Heart of Funding Published on 1 October 2026 by Lawing Tech Newsroom (5 min read)
The Board of Directors of the West African Investment Bank (WAIB) approved, during its 101st meeting in Lomé (Togo), funding totaling 390 million USD for projects in the energy, mining, transport, and agriculture sectors. These investments target key players such as MOSL Limited and Azumah Resources Ghana Limited, with expected benefits for regional value chains.
Which projects have been funded and for what amounts?
During its 101st ordinary meeting held on September 28, 2026, in Lomé (Togo), the Board of Directors of the West African Investment Bank (WAIB) approved four strategic operations totaling 390 million USD , according to Financial Afrik and L’Économiste Sénégal . These funds aim to strengthen key sectors in West Africa: energy, mining, transport, and agriculture.
The first project involves MOSL Limited , a Ghanaian company specializing in the supply of petroleum products, which has secured a 50 million USD facility to ensure energy supplies in Ghana. This funding comes at a time when energy demand remains a major challenge for ECOWAS member states.
The largest project, with 230 million USD , has been allocated to Azumah Resources Ghana Limited for the development of the Black Volta gold project, one of the largest untapped gold deposits in West Africa. This funding could position Ghana as a major player in the regional mining sector.
Nigeria has received 100 million USD for Phase II of the Kano-Maradi railway project, a strategic corridor connecting Nigeria to Niger. This project, which includes the acquisition of rolling stock, aims to improve mobility for people and goods between the two countries, according to explanations from the yop.l-frii.com site.
Finally, a 10 million USD allocation has been granted to the pilot phase of the West African Initiative for Climate-Smart Agriculture (WAICSA) , covering Ghana, Senegal, and Togo . This initiative, led by Dr. George Agyekum Donkor, aims to strengthen the climate resilience of local agricultural systems.
These investments reflect the Bank’s commitment to funding projects with tangible economic and developmental impact while strengthening regional value chains.
Illustrative photo: mobile payment (Akhilan, CC BY-SA 4.0) How do these funds align with the WAIB’s GRO 2026-2030 Strategy?
The approvals from the BIDC fall under its GRO Strategy 2026-2030 , which prioritizes regional integration, economic growth, and sustainability, as indicated by Financial Afrik . These projects contribute to several Sustainable Development Goals (SDGs) , including SDG 1 (no poverty), SDG 2 (zero hunger), SDG 8 (decent work and economic growth), SDG 9 (industry, innovation, and infrastructure), and SDG 13 (actions to combat climate change).
Dr. George Agyekum Donkor, President of the BIDC, emphasized that these investments reflect a commitment to funding projects with tangible economic and development impact . According to him, these approved operations will strengthen regional value chains , facilitate trade exchanges, and create jobs, as mentioned in statements reported by L’Économiste Sénégal .
For example, the Kano-Maradi railway project could serve as a model for other cross-border corridors in West Africa, thereby improving physical connectivity among member states. Similarly, the WAICSA initiative could inspire similar partnerships in other countries of the sub-region to address climate challenges.
What this means here: opportunities and challenges for businesses and administrations in Benin and West Africa
For Beninese and West African businesses , these funds could open partnership opportunities in sectors targeted by the BIDC. For example, companies specializing in railway infrastructure could draw inspiration from the Kano-Maradi project to propose similar solutions in other countries, such as Benin, where railway links remain limited. Likewise, actors in the mining sector could learn from the Black Volta project to explore new deposits in the sub-region.
For public administrations , these investments could serve as leverage to negotiate similar funding from the BIDC. Benin, for example, could build on these cases to develop projects in climate-resilient agriculture or renewable energy , two sectors where demand is growing. The success of the WAICSA initiative in Ghana, Senegal, and Togo could encourage Cotonou to adopt similar approaches in its agricultural policies.
However, these funds also present challenges . Local businesses will need to prepare to compete with already experienced regional players, such as MOSL Limited or Azumah Resources Ghana Limited. Additionally, administrations will need to strengthen their capacities to effectively manage these new projects, particularly in terms of governance and transparency, criteria often highlighted by the BIDC in its project calls.
Finally, these investments could stimulate sub-regional cooperation . Benin, a member of ECOWAS, could thus indirectly benefit from these projects by participating in expanded value chains, for example in goods transport via corridors like Kano-Maradi or in energy supply through initiatives similar to that of MOSL Limited.
Which sectors could be the next beneficiaries of BIDC funding?
Although the energy, mining, transport and agriculture sectors have been the main beneficiaries of this funding, the BIDC could extend its investments to other strategic areas for West Africa. According to statements by Dr George Agyekum Donkor, the Bank is focusing on projects with a tangible economic impact , suggesting opportunities in sectors such as digital technologies , renewable energies , or health , as mentioned in reports from yop.l-frii.com .
For example, projects related to the digitalization of public services or cybersecurity could attract the BIDC’s attention, particularly in a context where cyber threats weigh on critical infrastructures. Similarly, initiatives aimed at improving access to solar or wind electricity in rural areas could be prioritized, in line with the SDGs targeted by the Bank.
For businesses and administrations in Benin, this means it will be crucial to position themselves in these new areas by preparing strong project dossiers, compliant with the BIDC’s criteria. Public-private partnerships (PPPs) could also play a key role in mobilizing these funds, as has been the case for projects approved during the Lomé meeting.
Sources Prepared by Lawing Tech's technology watch from the sources cited. Our editorial charter
