NIGERIA – TLG Capital has partnered with Wema Bank to invest US$10 million in the development of Nigeria’s largest sustainable aluminium recycling plant, marking a significant move towards enhancing the country’s recycling infrastructure and reducing carbon emissions.
This climate finance initiative aims to recycle an amount of metal equivalent to the weight of three Eiffel Towers over the next five years while cutting CO2 emissions by 95% compared to aluminium sourced from primary extraction, according to TLG Capital.
The project reflects a growing emphasis on sustainable industrial practices in Nigeria, contributing to global efforts to combat climate change.
Beyond this specific deal, TLG Capital is at the forefront of creating a new private credit asset class in Africa, by working alongside local banks to offer more flexible financing solutions.
This partnership model enables African banks to leverage local expertise, strengthen their balance sheets, and provide enhanced financial options for borrowers, fostering sustainable development across the continent.
Zain Latif, Principal of TLG Capital, explained the partnership’s broader implications: “By leveraging local expertise and enhancing local balance sheets, we offer more flexible financing options for borrowers.
“We aim to create positive outcomes for banks, borrowers, and TLG, driving sustainable growth and development across Africa.”
Wema Bank, a leading financial institution in Nigeria, expressed enthusiasm for the collaboration, emphasizing how it aligns with its mission of providing innovative financial solutions.
“What Wema Bank and TLG Capital have accomplished sets a new benchmark in African banking,” the bank stated.
“Wema Bank has built a reputation for providing tailored financial solutions, driving impact in key areas like sustainability. This partnership with TLG Capital introduces a creative approach to securing more flexible financial solutions for our customers.”
The aluminium recycling plant, supported by Wema Bank’s financing, is a key step in promoting a circular economy in Nigeria.
By focusing on recycling metals instead of relying on primary extraction, the plant reduces environmental degradation and boosts local industry by turning waste into valuable resources.
Wema Bank further highlighted the significance of the investment, “This collaboration allows us to extend innovative financial solutions that empower both our customers and the wider economy.
“TLG Capital has brought the creativity we need for such intricate transactions, helping us to do what no Nigerian bank could achieve alone.”
This partnership enhances Nigeria’s recycling capacity and sets a precedent for how innovative financing and sustainable industrial practices can drive economic growth across Africa.
Through projects like this, TLG Capital and Wema Bank are positioning themselves as leaders in the region’s climate finance and sustainable development.
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