AP Capital

AP Capital · Established 2007

We originate, co-develop and hold infrastructure assets in Mozambique.

AP Capital was established in 2007. We secure the local position, bring in specialised international operators to develop the asset, and retain a long-term holding in what is built.

Mozambican coast

What we do

Areas of focus

We work in four sectors. In each one we hold a position in an operating business, and in each one we have a project in development.

Energy & Infrastructure

Gas-to-power and industrial energy infrastructure, and the equipment and services supply chain around it.

HoldingInter Energies, and Interafcon Mozambique within it
DevelopingCentral Térmica do Norte; Fertilizer Plant
Energy & Infrastructure →

Maritime & Energy Logistics

Coastal logistics and marine energy services along the Mozambican coast.

HoldingMeli Logistics
DevelopingLNG Shipping & FSRU; LNG Bunkering
Maritime & Energy Logistics →

Telecoms & Digital Services

Connectivity and mobile financial services, and the power-intensive digital infrastructure that follows them.

HoldingVodacom Moçambique and M-Pesa, through Emotel, SA
DevelopingAI Data Center
Telecoms & Digital Services →

Critical Minerals

Exploration and in-country processing of minerals used in industrial and energy-transition supply chains.

HoldingHeavy Minerals Limited
DevelopingManica Polymetallic Project; Mineral Processing Facility
Critical Minerals →
Marine and energy logistics on the Mozambican coast
Maritime and energy logistics, Mozambican coast

How we work

How we work

Projects of this kind need three things at once: access to the market and its institutions, technical capability at international standard, and capital. We hold the first, and we partner for the other two.

Development work is funded at our own risk. Each project is structured, financed and approved on its own terms rather than carried by the others.

OriginateIdentify commercially sound assets in Mozambique's growth corridors.
StructureSecure the local rights, establish governance and define the equity terms.
Co-promoteBring in an international sector leader for technical delivery and balance-sheet execution.
RetainHold equity and board representation through the asset life.

Current work

What we are developing

Two development programmes are active. Both are at an early stage, and both are open to partners with the capability to build them.

Concept stage

Nacala Next

A proposed industrial development platform on the northern coast. Six separately structured projects share one gas supply, one coastal delivery chain and common port and power infrastructure, each phased and taken forward with its own operating partner.

Nacala Next →
Exploration stage

Manica Polymetallic Project

An exploration project in central Mozambique, targeting minerals used in industrial and energy-transition supply chains. No mineral resource or reserve has been estimated.

Manica Polymetallic Project →
Nacala Next, conceptual rendering
Nacala Next — conceptual rendering of a proposed development

Recently delivered

Selected delivery references executed by Interafcon Mozambique, an operating capability within the Inter Energies platform. They demonstrate delivery capability and do not state that AP Capital was the direct contracting party. They disclose no commercial terms and should not be read as a statement of current contract status or operator affiliation.

2022–23

Sasol Petroleum Limitada · PSA Development Project, Mozambique
Engineering, design and supply of the produced water treatment, desalter, decanter and demulsifier packages.

2020

Samsung Heavy Industries · Coral South FLNG, Mozambique
Provision of local support services to the floating LNG project.

2025

New productsBrit-Lube · Mozambique
Appointed exclusive distributor in Mozambique for the UK manufacturer of industrial lubricants and maintenance products.

Leadership

Leadership

AP Capital is led by its three co-founders. The head office is in Maputo; Dubai carries international representation.

Apolinário Pateguana

Chief Executive Officer

Mauro Pateguana

Chief Financial Officer

Helder Tembe

Chief Operating Officer

Leadership

Contact

Enquiries

We work with capital partners, operators, lenders and advisers. Tell us which sector or project is relevant.