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The front pageWednesday, August 19, 2026 — what's gaining coverage right now

Business·Jul 26, 2026

AfDB backs Morocco LFP battery gigafactory

The African Development Bank Group has approved a €100 million loan to Gotion Power Morocco to build Africa’s and the MENA region’s first integrated cathode-to-cell lithium iron phosphate battery gigafactory in Rabat-Salé-Kénitra, with up to €141 million more expected from partners under NAFAD. The initial phase targets 10 GWh of production, with plans to scale to 100 GWh and position Morocco as a hub for electric mobility and green technology, powered primarily by renewable energy and generating hundreds of local jobs.

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