Author: MIL-OSI Publisher

Source: APO

.

The Eritrean delegation led by Mr. Paulos Kahsay, Director General of Civil Aviation of the State of Eritrea, participated in the 42nd Session of the International Civil Aviation Organization (ICAO) Assembly, which was held from 23 September to 3 October in Montreal, Canada.

At the session, Mr. Paulos delivered a speech focusing on aviation safety and security. Noting that the safety and security of aviation are core functions of the industry and that Eritrea is earnestly working in this area, Mr. Paulos stated that the sovereignty and territorial integrity of member states are being violated under the guise of international laws, conventions, and regulations. He called on the Organization to refrain from engaging in activities that undermine its integrity, pride, and reputation.

Mr. Paulos also reminded the Assembly that aviation emissions account for only 2% of total global emissions, stressing that the goal of reducing aviation emissions to zero by 2050 would be detrimental to developing countries while benefiting industrialized member states. He emphasized that the focus should instead be on mitigating the effects of the remaining 98% of global emissions.

Regarding human resource development, Mr. Paulos indicated that the Eritrean Civil Aviation Authority is conducting effective training programs in aviation and has launched ICAO-approved theoretical and practical training programs.

On the sidelines of the session, the Eritrean delegation held meetings with representatives from Russia, China, Sudan, the Republic of Korea, Spain, and Singapore, and discussed areas of cooperation and coordination on matters of common interest.

Distributed by APO Group on behalf of Ministry of Information, Eritrea.

Source: APO

There are moments when leadership becomes more than governance; it becomes vision. This autumn, two figures stand out for how they are reshaping not only their cities but the imagination of their regions: Crown Prince Mohammed bin Salman of Saudi Arabia and Governor Babajide Sanwo-Olu of Lagos.

In Saudi Arabia, the Crown Prince’s NEOM project represents ambition on a staggering scale. With a $500 billion price tag and the weight of the Public Investment Fund behind it, NEOM is designed as a city of the future: carbon-neutral, technologically driven, and planned as a model for sustainable living. It is not only a statement about Saudi Arabia’s future but about the role the Middle East seeks to play in a rapidly changing global order.

Across the African continent, a different but equally striking experiment is underway in Lagos, Nigeria’s largest city and commercial capital. Governor Sanwo-Olu has cast Lagos as Africa’s cultural and entertainment hub, a city whose rhythm, energy, and creativity can rival the world’s great capitals. This season’s Runway Jazz, a fusion of music, fashion, and performance, has become a symbol of that aspiration—an annual reminder that Lagos is as much about culture as it is about commerce.

But Lagos’ story is not only cultural. It is also about urban development, finance, and social impact. Octo5 Holdings, a housing innovator, has emerged as one of the few firms attempting to tackle Nigeria’s chronic housing deficit with scalable, modern solutions. In the financial sector, More Money Microfinance Bank, under the leadership of Mohammed Olatunji, is bridging gaps in credit access for ordinary Nigerians, offering a lifeline to small businesses that form the backbone of the economy.

Other projects reflect an equally ambitious, though quieter, form of vision. The Araromi Beach Project, guided by H.E. Amb. Rachael Ologodidan through the Ologo Didan Jezi Foundation, seeks to transform a pristine stretch of West African coastline into a sustainable tourism destination—an effort that blends environmental stewardship with economic development. In the design world, Uzy Homes, led by Ozioma Chibuogwu, has become a name synonymous with elegance and craftsmanship, while laying plans to expand into furniture manufacturing in Nigeria and Ghana, providing jobs and empowering artisans.

Perhaps the most striking shift, however, is in leadership itself. Across Africa and the Middle East, women are assuming prominent roles in real estate and development. Fifty such women are highlighted this season for their impact, resilience, and ability to shape communities at a scale once thought impossible.

This edition also turns to the world of luxury, where legacy brands continue to define sophistication for a new era. The Mandarin Oriental reimagines global hospitality with its blend of timeless elegance and modern design, offering sanctuaries that merge cultural heritage with contemporary refinement. Cartier, the house of timeless craftsmanship, continues to embody jewelry and watchmaking as an art form, a heritage that transcends generations. And for the automotive connoisseur, the Rolls-Royce Black Badge Spectre, the marque’s first all-electric ultra-luxury coupe, represents a bold fusion of performance, innovation, and daring style—a masterpiece for those who demand more than excellence.

Together, these stories form a mosaic of ambition—one that stretches from the futuristic deserts of Saudi Arabia to the bustling streets and beaches of Lagos, and onward into the ateliers, boardrooms, and design houses of the world. They suggest a shared lesson: cities and cultures, when shaped by bold leadership and timeless vision, can become more than centers of commerce. They can become symbols of identity, engines of creativity, and blueprints for a new global future.

Distributed by APO Group on behalf of The Affluenz (formerly Pleasures Magazine).

Source: APO

.

Engineering and technology company Technip Energies has been awarded the Service Provider of the Year award at the African Energy Week (AEW): Invest in African Energies 2025 conference, in recognition of the company’s engineering excellence and contributions to Africa’s LNG and decarbonization industries. The award celebrates Technip Energies’ role in delivering complex infrastructure projects while maintaining the highest standards of safety, quality and local value creation. 

The company’s most recent major achievement includes the Greater Tortue Ahmeyim (GTA) project offshore Mauritania and Senegal, which reached commercial operations in June 2025. Technip Energies executed the full lifecycle of the project’s FPSO vessel – the first of its kind in the region – marking a major milestone for West Africa’s gas export capacity. The FPSO, capable of processing up to 500 million standard cubic feet of gas per day, supports production of 2.3 million tons of LNG annually. Technip Energies’ Dakar office has served as a local hub for training and SME engagement, reinforcing the company’s commitment to local content and skills development. 

In Mozambique, Technip Energies continues to strengthen its leadership in the LNG sector through several flagship projects. The company, as consortium leader, delivered the Coral South FLNG, Africa’s first floating LNG facility, which shipped its first cargo in December 2022. In 2024, Technip Energies and infrastructure construction services company JGC Corporation were awarded the Front-End Engineering and Design contract for the Rovuma LNG project, led by energy major ExxonMobil. Designed with modular and electric-driven technology, the Rovuma LNG development represents a significant step toward lower-carbon gas production. In July 2025, Technip Energies also secured a major contract valued between €250 million and €500 million for preliminary engineering of a new FLNG unit, widely expected to be the Coral North expansion. 

“Technip Energies has demonstrated exceptional technical capability and reliability across some of Africa’s most challenging energy projects. This award reflects the scale and complexity of what Technip Energies has delivered across Africa. Projects like GTA and Coral South prove that world-class energy infrastructure can be executed in Africa to the highest global standards,” states NJ Ayuk, Executive Chairman, African Energy Chamber. 

By combining engineering innovation with strong local focus, Technip Energies continues to play a defining role in Africa’s energy future.  

Distributed by APO Group on behalf of African Energy Chamber.

Source: APO

.

Woodside Energy has been recognized as International Local Content Champion of the Year by African Energy Week 2025: Invest in African Energies, honoring its sustained commitment to building local capacity, fostering skills transfer and empowering communities across Africa. The award highlights the company’s strategic efforts to ensure that local people and enterprises play a central role in delivering major energy projects.

A focal point of Woodside Energy’s approach is the Sangomar offshore development in Senegal, where the company has partnered closely with state-owned energy company Petrosen to integrate local suppliers, strengthen industrial capacity and create lasting economic benefits for surrounding communities. According to Woodside, the subsea installation of the project’s FPSO vessel was supported from Dakar and logistical supply services were provided by local businesses. 

Woodside Energy’s initiatives extend beyond project delivery, encompassing mentorship programs, skills-building workshops and ongoing support for local enterprises. These programs are designed to empower communities, equip professionals with internationally competitive skills, and embed lasting industrial capability, reflecting the company’s commitment to sustainable and inclusive growth.

“Woodside Energy demonstrates how international companies can drive real, lasting change in Africa. Through the Sangomar project and its broader partnerships – and now, as the company advances to Phase 2 – Woodside has shown that investing in local talent, suppliers and industrial capacity is not just the right thing to do; it is essential for building a truly sustainable energy sector across the continent,” said NJ Ayuk, Executive Chairman of the African Energy Chamber.

Distributed by APO Group on behalf of African Energy Chamber.

Source: APO

.

Levene Energy has been named the winner of the Local Content Champion award at African Energy Week (AEW) 2025: Invest in African Energies in Cape Town, recognizing the company’s outstanding contributions to advancing local participation, skills development and value creation across Africa’s energy sector. The award underscores Levene Energy’s commitment to building sustainable energy projects that prioritize local talent and supply chain integration while fostering inclusive economic growth.

The Local Content Champion award celebrates organizations that go beyond compliance, setting new benchmarks in embedding local content into their business models and operations. Levene Energy was recognized for its success in scaling African-led projects anchored in local suppliers, talent pipelines and mentorship initiatives. From expanding hybrid mini-grid solutions across underserved Nigerian communities, to supporting the distribution of low-carbon gas, to operating two bitumen exploration and production assets, Levene is prioritizing the development of durable industrial capacity across West Africa.

“Levene Energy’s recognition as the Local Content Champion is a testament to what can be achieved when companies place African people at the heart of their operations,” states NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC). “This award reflects the Chamber’s belief that energy development must be an engine of opportunity for African workers, businesses and communities, and that Africa’s energy industry must be both globally competitive and locally empowering.”

By empowering local enterprises, investing in training programs and creating opportunities for African professionals to participate in large-scale energy projects, Levene Energy has contributed to strengthening Africa’s competitiveness in the global market. These initiatives illustrate how private sector leadership can drive transformation by pairing investment with capacity building and knowledge transfer.

AEW: Invest in African Energies, hosted by the AEC, serves as the continent’s premier energy event, bringing together governments, investors and stakeholders to advance dialogue and partnerships across the industry. The recognition of Levene Energy at the African Energy Awards reinforces the company’s position as a trusted partner in advancing Africa’s energy future through a people-centered approach.

Distributed by APO Group on behalf of African Energy Chamber.

Source: APO

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), member of the Islamic Development Bank (IsDB) Group, has signed a US$90 million syndicated facility in favor of the Republic of Djibouti, with the Société Internationale des Hydrocarbures de Djibouti (SIHD), as the executing agency.  

The Agreement was signed between Mr. Nazeem Noordali, Chief Operating Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy & Finance. The facility will strengthen Djibouti’s energy security by enabling SIHD to fulfill its mandate of securing the procurement of refined petroleum products. These products are vital for electricity generation and driving growth across all sectors of the economy. In addition, the initiative supports intra-OIC trade by sourcing petroleum products primarily from OIC member countries and underscores ITFC’s contribution to advancing UN SDG 7, Affordable Energy for All.  

Commenting on the signing of the Agreement, Mr. Nazeem Noordali, COO of ITFC, stated:  “Djibouti’s economic potential is closely tied to the strength of its energy sector, and substantial investment is essential to unlocking that potential. ITFC reinforces its commitment to supporting Djibouti’s energy security and sustainable growth through this new facility. We are pleased to strengthen our long-standing partnership with Djibouti and help bolster SIHD’s ability to successfully deliver on its mandate of securing the country’s supply of oil products. We remain dedicated to advancing Djibouti’s economic development and will continue channeling funding where it creates the greatest impact. 

Since its inception in 2008, ITFC has provided a total of US$1.7 billion to Djibouti, with a focus on supporting SIHD and strengthening the country’s energy sector. The signing of the agreement is also aligned with the US$600 million three-year Framework Agreement concluded between ITFC and the Government of Djibouti in May 2023. These interventions reflect ITFC’s long-term commitment to reinforcing Djibouti’s economic and social development.  

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

Contact Us:
Tel: +966 12 646 8337  
Fax: +966 12 637 1064  
E-mail: ITFC@itfc-idb.org  

Social Media: 
Twitter: @ITFCCORP  
Facebook: @ITFCCorp  
LinkedIn: International Islamic Trade Finance Corporation (ITFC) (https://apo-opa.co/4naDO41)

About the International Islamic Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving socio-economic conditions of the people across the world. Commencing operations in January 2008, ITFC provided US$89billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity-building tools, which would enable them to successfully compete in the global market.  

Source: APO

.

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has once again had its long-term issuer credit rating of A3 affirmed by Moody’s Ratings, a rating first assigned in 2014 and consistently maintained for over a decade.  Moody’s affirmed this rating with a stable outlook and affirmed AFC’s short-term issuer rating at P-2, underscoring the Corporation’s status as one of the highest-rated investment-grade institutions in Africa.

“Despite elevated country risk in several of AFC’s countries of operation and the low average rating of its shareholder base, the credit profile is supported by a sound liquidity buffer backed by high-quality treasury assets and resilient asset performance, underpinned by effective credit protections that mitigate potential credit risks.,” Moody’s stated in its latest report.

Moody’s A3 rating affirmation reflects AFC’s strict adherence to its prudential guidelines and its robust financial performance. In FY2024, the Corporation delivered its strongest financial results to date, surpassing $1 billion in total revenue and growing total assets by 16.7% to US$14.41 billion. AFC also maintained a Capital Adequacy Ratio of 33.6%, improved its Cost-to-Income Ratio to 17.3% and recorded Liquidity Coverage Ratios (LCR) of 194% and 191% under normal circumstances and a stress scenario, respectively, significantly higher than its 100% threshold.

The decision by Moody’s is pivotal in enabling AFC to sustain one of the lowest borrowing costs among institutions in Africa. This financial strength has, over the past year, allowed the Corporation to mobilise capital for transformational projects across the continent, including the Lobito Corridor railway linking Angola, the Democratic Republic of Congo, and Zambia, where AFC secured a concession agreement in record time, and a US$150 million investment in the Kamoa-Kakula Copper Complex, Africa’s largest and one of the world’s most sustainable copper producers.

“Moody’s reaffirmation of our A3/P-2 ratings for the eleventh consecutive year is a strong testament to AFC’s robust financial strength and resilience, even amidst global headwinds,” commented Samaila Zubairu, President & CEO of Africa Finance Corporation. “It reinforces our ability to consistently access long-term capital at competitive rates to deliver on our mandate to finance transformational infrastructure projects that integrate Africa and enables its industrialisation,” he added.

“Overall, the corporation’s funding plan aims to diversify funding sources geographically and by instrument (e.g., green bonds, private placements, sukuk) and pursue innovative funding structures to access niche markets at favourable terms, including ESG-linked instruments and hybrid formats,” Moody’s analysts said, commending AFC. “We assess AFC’s quality of funding structure at “a”, indicating the corporation’s demonstrated capacity to borrow at varying maturities and from different sources to help smooth its redemption profile,” they reported. The agency also assessed AFC’s liquid resources buffer at “aaa”, reflecting its conservative liquidity policy and strong high-quality liquidity position relative to peers.

Against a backdrop of global financial uncertainty, AFC continues to demonstrate strong and diversified market access. Recent milestones include the issuance of a US$500 million perpetual hybrid bond, a US$400 million Shariah-compliant Commodity Murabaha, and a landmark US$1.5 billion three-year syndicated loan that was originally launched at US$1.3 billion. This transaction, a milestone in the Corporation’s history, attracted a diverse consortium of new and returning lenders spanning the Middle East, Africa, Asia and Europe. These achievements further highlight global investor confidence in AFC’s strong credit profile and strategic role in Africa’s development.

For the full statement from Moody’s, please click here (https://apo-opa.co/4o1AN6B).

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile : +234 1 279 9654
Email : yewande.thorpe@africafc.org

About AFC:
AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.

Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 46 member countries and has invested over US$15 billion in 36 African countries since its inception.

www.AfricaFC.org