UAE's ePointZero Acquires 90% of Pan-African IPP Azura Power
UAE-based ePointZero has acquired a 90 percent stake in Azura Power, a pan-African independent power producer with significant assets in Nigeria, in a landmark cross-continental energy infrastructure deal. The transaction shifts majority control of a key Nigerian power generation asset to Abu Dhabi-linked capital.
Azura Power: Abu Dhabi is betting on Nigeria's grid while Nigerians aren't
Azura Power supplies roughly 10% of baseload grid power in each market it operates — Nigeria, Senegal, Mozambique. That's not a peripheral asset. That's critical national infrastructure, and it just passed 90% into Abu Dhabi hands.
The Africa Finance Corporation has been publicly urging African capital markets to lead on exactly this kind of infrastructure deal. Instead, the sellers are Actis (a London-based private equity firm) and Africa50 (an African development institution — but still an exit, not a hold).
Nigeria's power sector contracted 10.63% year-on-year in Q2 2026. New foreign capital coming in is genuinely welcome. But there's a harder question underneath: if African infrastructure of this scale keeps being financed, exited and now owned externally, who is actually building long-term African ownership of the continent's most critical systems?
2 sources
- Nigeria : Azura Power passe sous le contrôle d’Abou Dhabi · financialafrik.com · T2
- UAE’s ePointZero enters Africa’s power generation market with 90% acquisition of Azura Power · nairametrics.com · T2