The African Development Bank Group (AfDB) has approved a $75 million financing package to support South Africa-based Nyanza Light Metals Pty Ltd in establishing Africa’s first large-scale titanium dioxide manufacturing plant — a move set to advance the continent’s industrialisation and value addition ambitions.
Titanium dioxide is a vital pigment used in paints, cosmetics, food processing, and medical products. Despite its demand, Africa largely imports the material at high cost. Nyanza’s project aims to reverse this trend by locally processing titanium ore into high-value pigment, strengthening Africa’s role in the global titanium value chain.
The AfDB’s funding includes $25 million from the Africa Growing Together Fund (AGTF), a partnership between the Bank and the People’s Bank of China. The investment will finance the construction of an 80,000-tonne-per-year titanium dioxide plant in the Richards Bay Industrial Development Zone, along with related infrastructure.
The project forms part of a larger syndicated financing package arranged by the Africa Finance Corporation and the African Export-Import Bank.
Beyond industrial transformation, the project is expected to deliver significant socio-economic benefits. It will create more than 2,400 jobs during construction — with 30% reserved for women and 30% for youth — and 850 skilled positions once operational, targeting 45% women and 30% youth participation.
AfDB Vice President for Private Sector, Infrastructure and Industrialisation, Solomon Quaynor, said the investment demonstrates the Bank’s commitment to shifting Africa’s economic model from exporting raw materials to producing value-added goods.
Nyanza CEO Donovan Chimhandamba hailed the approval as a “turning point” for Africa’s industrial future, noting that the project will “reclaim value, create jobs, and build a sustainable industrial base driven by African talent.”
The initiative aligns with the AfDB’s goals to promote resource beneficiation, strengthen climate-resilient infrastructure, and drive inclusive industrial growth across the continent.