Government raises R11.795 billion to fund infrastructure projects

Source: Government of South Africa

Government raises R11.795 billion to fund infrastructure projects

The National Treasury has successfully raised R11.795 billion under South Africa’s first Infrastructure and Development Finance Bond.

According to the National Treasury, the auction attracted strong market interest, with bids exceeding R26 billion and achieving a 2.2-times subscription rate.

The proceeds from the Infrastructure and Development Finance Bond will be used exclusively to finance projects under the Budget Facility for Infrastructure (BFI) programme.

The total issuance amount was split across 10 and 15-year maturities as follows: 
•    RI2036: R6.996 billion was issued at an interest rate of 8.575%.
•    RI2041: R4.799 billion was issued at an interest rate of 9.13%.

This issuance forms part of a suite of reforms, first outlined in the 2024 Medium Term Budget Policy Statement, to boost investment in the infrastructure required to drive higher economic growth and improve service delivery. 

The bond will support projects under the Government’s Budget Facility for Infrastructure (BFI). 

READ | Government issues infrastructure bonds to boost investment

The BFI is a mechanism within the budget process that supports the execution of national priority infrastructure projects by using robust project screening methodology to assess eligibility for public funding. 

“During 2025, the government reconfigured the BFI to run four bid windows annually instead of just one. 
“The four bid windows enable public institutions, including national departments, provinces, municipalities and state-owned enterprises, to request funding for part of the cost of a project, as a basis to attract additional private funding,” National Treasury said on Tuesday.

This allows government to improve the quality and scale of the public infrastructure pipeline and embed private sector participation in infrastructure delivery.

The inaugural auction size was allocated in line with current market rates to optimise the cost of government borrowing. 

“As part of the funding strategy, the National Treasury plans to tap these bonds in future auctions to finance further BFI-aligned infrastructure projects. These reforms include the development of long-term financing instruments to crowd in investment for priority public infrastructure,” National Treasury said. –SAnews.gov.za

 

nosihle

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Water Ministers reaffirm commitment to protect Orange–Senqu River Basin

Source: Government of South Africa

Water Ministers reaffirm commitment to protect Orange–Senqu River Basin

The Ministers responsible for water from the four Orange–Senqu River Basin states have reiterated their shared commitment to safeguarding the river basin as a strategic resource underpinning regional water security, climate resilience, economic development, and ecological sustainability.

The Ministers from the Republic of Botswana, the Kingdom of Lesotho, the Republic of Namibia, and the Republic of South Africa recently met in Gaborone, Botswana, for the 8th Ordinary Meeting of the Orange–Senqu River Commission (ORASECOM) Forum of the Parties.

According to a communiqué, the meeting reviewed progress on the cooperative management, development, and protection of the basin’s shared water resources and set strategic priorities to guide ORASECOM’s ongoing programmes.

The Ministers reaffirmed their commitment to cooperative governance of the basin and welcomed significant progress achieved since the 2023 Forum held in the City of Tshwane, South Africa.
Among the key achievements noted are:

•    Advancement of the Revised ORASECOM Agreement: Ministers noted progress towards the ratification of the revised 2018 Agreement, which aims to modernise and strengthen the Commission’s legal and institutional framework to better respond to contemporary water challenges.
•    Prioritising sanitation and water quality: The Ministers acknowledged the integration of sanitation into the next Integrated Water Resources Management and Investment Plan (2026–2035). This will ensure coordinated action on pollution, water quality monitoring, Water, Sanitation and Hygiene (WASH) services, and cross-sectoral coordination. 
•    Improving flow conditions in the Lower Orange–Senqu: The Ministers noted progress toward the Noordoewer/Vioolsdrift Dam Bridging Feasibility Study. With ORASECOM designated as the Project Executing Agency, procurement of the technical consultant is now underway.

Progress made
The Forum commended the Commission for delivering significant basin-wide initiatives, including:
Lesotho–Botswana Water Transfer Project (L-BWTP)
This flagship, multi-country water security project has completed both its pre-feasibility phase and the Dam Technical Feasibility Study. Outstanding work, including the technical study of the Water Conveyance System (WCS), Environmental and Social Assessments for both dam and conveyance infrastructure, and financial, legal, and institutional assessments, is expected to conclude by mid-2027.

Successful hosting of the 2025 Investment Conference
Held in Maseru in May 2025, the conference mobilised high-level political commitment and enhanced engagement with development partners, financiers, and private-sector actors focused on climate-resilient water investments.

Completion of the UNDP-GEF SAP Implementation Project
Field projects in all four countries delivered tangible community and ecosystem benefits—groundwater desalination in Botswana, improved water-quality monitoring in Lesotho, and the development of an estuarine management plan in South Africa.

Initiation of the ORASECOM Water Fund
The Ministers welcomed the progress toward establishing a dedicated long-term financing mechanism to support basin restoration, water security, and climate resilience. A Project Identification Form has been submitted to the Global Environment Facility to support further development.

Advancing gender leadership in water diplomacy
The Forum commended ongoing efforts to strengthen the Women in Water Diplomacy Network in the basin, acknowledging recent appointments of basin representatives to the Network’s Global Council.

The Ministers also reviewed the Commission’s financial status and expressed appreciation for continued support from international partners, including the African Development Bank and the Government of Germany. They encouraged sustained resource mobilisation and broader partnerships to secure long-term programme delivery.

Cooperation
The forum further welcomed steady progress within existing cooperation frameworks, including the Permanent Water Commission (Namibia–South Africa), the Lesotho Highlands Water Commission, and the Botswana–South Africa Joint Permanent Technical Commission, highlighting the value of technical collaboration and shared management across the river basin.

The 9th Ordinary Meeting of the Forum of the Parties will be held in 2026 by the Kingdom of Lesotho. – SAnews.gov.za

 

GabiK

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African Development Bank, Pan African Federation of Accountants launch $5.2 million initiative to professionalise African accountancy sector

Source: APO

The African Development Bank Group (www.AfDB.org) and the Pan African Federation of Accountants (PAFA) have launched a $5.2 million institutional support project to address a severe shortage of qualified public sector accountants and auditors across Africa.

The launch event was held on 26 November at The South African Institute of Professional Accountants (SAIPA) House in Johannesburg.

The Strengthening the Pan African Federation of Accountants and PFM Resilience in Africa project aims to harmonise professional accounting standards, tools, and practices across African countries, build the institutional and professional capacities of professional accountancy organisations, improve financial reporting quality in transition states, and professionalise public sector accountants and auditors. The $5.2 million in funding will come in the form of a grant provided by the Bank Group’s Transition Support Facility.

“Strong, transparent public financial management is essential for resilient economies and improved services for citizens,” said Kennedy Mbekeani, Director General of the Bank’s Southern Africa Regional Development and Business Delivery Office, following the launch. “Through this partnership with PAFA, we are investing in the professionals and institutions that protect public resources.”

The Bank Group chose PAFA as project implementing partner because of the umbrella group’s unrivalled pan-continental reach. It has 57 professional accountancy organisations as members across 47 countries. The partnership will also harness the African Professionalisation Initiative, a collaboration between PAFA, the African Organisation of Supreme Audit Institutions (AFROSAI) and the African Association of Accountants General.

Alta Prinsloo, PAFA’s CEO, said: “This partnership with the African Development Bank is a decisive step towards strengthening Africa’s public financial management landscape. By investing in the professionalisation of accountants and auditors, we are building the skills, institutions, and standards that enable transparency, trust, and effective governance. PAFA is proud to lead this work with our partners across the continent.”

Additionally, the project to address this pressing challenge will implement learning programmes, enhance the institutional capacity of Professional Accountancy Organisations, and boost women’s participation in the profession through targeted mentorship and training.

The initiative is also expected to advance strategic goals, including an African Continental Free Trade Area target of standardising professional qualifications and skills mobility, enhancing recognition of the credentials of Africa’s financial professionals across borders.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

For media enquiries, contact:
Natalie Naudé
Communication and External Relations Department
media@afdb.org

About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

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La Société islamique d’assurance des investissements et des crédits à l’exportation (SIACE) soutient un financement de 132,5 millions d’euros pour renforcer l’industrie sidérurgique ouzbèke

Source: Africa Press Organisation – French

La Société islamique d’assurance des investissements et des crédits à l’exportation (SIACE) (https://ICIEC.IsDB.org), assureur multilatéral conforme à la charia et membre du Groupe de la Banque islamique de développement (BID), a le plaisir d’annoncer son soutien à un financement historique de 132,5 millions d’euros arrangé par Standard Chartered en faveur de la société par actions O’zbekiston Metallurgiya Kombinat (Uzmetkombinat), le plus grand producteur d’acier d’Ouzbékistan.

Ce financement, garanti par la garantie souveraine de la SIACE, permettra l’achèvement du nouveau complexe de moulage et de laminage d’Uzmetkombinat à Bekabad, dans le sud de l’Ouzbékistan. Une fois achevée, l’usine produira des bobines laminées à chaud (BCR) — un produit clé qui était auparavant importé — renforçant ainsi l’autosuffisance du pays en matière de production d’acier et améliorant sa compétitivité dans les secteurs de la construction et de la fabrication.

L’introduction de bobines laminées à chaud produites localement marque une étape majeure pour l’Ouzbékistan, en assurant une meilleure efficacité de la chaîne d’approvisionnement et une réduction des coûts pour les industries locales, notamment la fabrication de tubes et la construction. Cet investissement aura également un impact social et économique significatif à Bekabad, une ville de
100 000 habitants où Uzmetkombinat emploie déjà plus de 8 000 personnes et soutient des milliers d’emplois indirects.

Ce projet représente la deuxième transaction importante entre la SIACE et Standard Chartered en Ouzbékistan en 2025. Auparavant, la SIACE avait soutenu un financement islamique de 160,4 millions d’euros en faveur de la banque commerciale par actions Agrobank, favorisant l’accès au financement pour les petites et moyennes entreprises (PME) du pays.

À propos de cette transaction, Dr Khalid Khalafalla, DG de la SIACE, a déclaré :« Cette transaction historique illustre le mandat de la SIACE, qui vise à réduire les risques liés au commerce et à l’investissement tout en stimulant une croissance économique durable dans nos États membres. En soutenant le plus grand producteur d’acier d’Ouzbékistan, nous favorisons non seulement le développement de capacités industrielles essentielles, mais contribuons également à renforcer l’autonomie, la création d’emplois et la résilience économique à long terme. Nous sommes fiers d’approfondir notre collaboration avec Standard Chartered grâce à cette deuxième transaction majeure en Ouzbékistan, qui témoigne de la solidité de notre partenariat et notre engagement commun à promouvoir des projets de développement à fort impact. »

Desislava Radeva, Directrice exécutive du développement et du financement des agences chez Standard Chartered, a déclaré : « Nous sommes fiers de nous associer une fois de plus à la SIACE pour soutenir un client précieux, Uzmetkombinat. La production d’acier est un secteur stratégique clé pour l’Ouzbékistan, et la production locale d’aciers laminés à chaud représente un formidable bond en avant pour le pays. Cet accord illustre l’expertise de Standard Chartered à stimuler la prospérité sur certains des marchés les plus dynamiques du monde. ».

Distribué par APO Group pour Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

E-mail : 
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À propos de la SIACE : 
Membre du Groupe de la Banque islamique de développement (BID), la SIACE a démarré ses activités en 1994 avec pour mission de renforcer les relations économiques entre les États membres de l’OCI et de promouvoir le commerce ainsi que les investissements intra-OCI, en fournissant des outils d’atténuation des risques et des solutions financières conformes à la Charia. La Société est le seul assureur multilatéral islamique au monde et joue un rôle de premier plan en proposant une gamme complète de solutions aux entreprises et aux parties prenantes de ses 51 États membres. Pour la 18ᵉ année consécutive, la SIACE a conservé sa note de solidité financière « Aa3 » attribuée par Moody’s, la classant parmi les leaders mondiaux du secteur de l’assurance-crédit et de l’assurance des risques politiques. Par ailleurs, S&P a confirmé la note de crédit et de solidité financière à long terme « AA- » de la SIACE pour la deuxième année consécutive, avec des perspectives stables. La résilience de la SIACE repose sur une souscription rigoureuse, un solide réseau mondial de réassurance et des politiques prudentes de gestion des risques. À ce jour, la SIACE a assuré plus de 121 milliards USD de transactions commerciales et d’investissements. Ses activités couvrent plusieurs secteurs stratégiques, notamment l’énergie, l’industrie manufacturière, les infrastructures, la santé et l’agriculture.

Pour plus d’informations, veuillez visiter : https://ICIEC.IsDB.org     

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Banco Africano de Desenvolvimento e Federação Pan-Africana de Contabilistas lançam iniciativa de 5,2 milhões de dólares para profissionalizar o setor de contabilidade

Source: Africa Press Organisation – Portuguese –

O Grupo Banco Africano de Desenvolvimento (www.AfDB.org) e a Federação Pan-Africana de Contabilistas (PAFA) lançaram um projeto de apoio institucional no valor de 5,2 milhões de dólares para combater a grave escassez de contabilistas e auditores qualificados no setor público em toda a África.

O evento de lançamento foi realizado a 26 de novembro na sede do Instituto Sul-Africano de Contabilistas Profissionais (SAIPA) em Joanesburgo.

O projeto Fortalecimento da Federação Pan-Africana de Contabilistas e Resiliência da Gestão Financeira Pública em África visa harmonizar as normas, ferramentas e práticas profissionais de contabilidade em todos os países africanos, desenvolver as capacidades institucionais e profissionais das organizações de contabilidade profissional, melhorar a qualidade dos relatórios financeiros nos Estados em transição e profissionalizar os contabilistas e auditores do setor público. O financiamento de 5,2 milhões de dólares será concedido sob a forma de uma subvenção do Mecanismo de Apoio à Transiçãodo Grupo Banco.

“Uma gestão financeira pública forte e transparente é essencial para economias resilientes e melhores serviços para os cidadãos”, afirmou Kennedy Mbekeani, Diretor-Geral do Gabinete de Desenvolvimento Regional e Prestação de Serviços da África Austral do Banco, após o lançamento. “Através desta parceria com a PAFA, estamos a investir nos profissionais e nas instituições que protegem os recursos públicos”, acrescentou.

O Grupo Banco escolheu a PAFA como parceiro de implementação do projeto devido ao alcance pan-continental incomparável do grupo. Tem 57 organizações profissionais de contabilidade como membros em 47 países. A parceria também irá aproveitar a Iniciativa Africana de Profissionalização, uma colaboração entre a PAFA, a Organização Africana das Instituições Superiores de Auditoria (AFROSAI) e a Associação Africana de Contabilistas Gerais.

Alta Prinsloo, CEO da PAFA, afirmou: “Esta parceria com o Banco Africano de Desenvolvimento é um passo decisivo para o reforço do panorama da gestão das finanças públicas em África. Ao investir na profissionalização de contabilistas e auditores, estamos a desenvolver as competências, as instituições e as normas que permitem a transparência, a confiança e a governação eficaz. A PAFA orgulha-se de liderar este trabalho com os nossos parceiros em todo o continente”.

Além disso, o projeto para enfrentar este desafio urgente irá implementar programas de aprendizagem, reforçar a capacidade institucional das Organizações Profissionais de Contabilidade e impulsionar a participação das mulheres na profissão através de mentoria e formação específicas.

Espera-se também que a iniciativa promova objetivos estratégicos, incluindo a meta da Zona de Comércio Livre Continental Africana (AfCFTA) de padronizar as qualificações profissionais e a mobilidade de competências, aumentando o reconhecimento das credenciais dos profissionais financeiros africanos além-fronteiras.

Distribuído pelo Grupo APO para African Development Bank Group (AfDB).

Contacto para os media:
Natalie Naudé
Departamento de Comunicação e Relações Externas
media@afdb.org

Sobre o Grupo Banco Africano de Desenvolvimento:
O Grupo Banco Africano de Desenvolvimento é a principal instituição financeira de desenvolvimento em África. Inclui três entidades distintas: o Banco Africano de Desenvolvimento (AfDB), o Fundo Africano de Desenvolvimento (ADF) e o Fundo Fiduciário da Nigéria (NTF). Presente no terreno em 41 países africanos, com uma representação externa no Japão, o Banco contribui para o desenvolvimento económico e o progresso social dos seus 54 Estados-membros. Mais informações em www.AfDB.org/pt

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Qantas Airways direct flight to SA to boost tourism

Source: Government of South Africa

Qantas Airways direct flight to SA to boost tourism

Tourism Minister Patricia de Lille on Monday welcomed the launch of Qantas Airways’ new direct flight between Johannesburg and Perth adding that it will boost tourism and trade.

De Lille said the move will also people-to-people relations between South Africa and Australia.

The launch took place in Johannesburg and was attended by the Australian Minister for Trade and Tourism, Don Farrell, Australian High Commissioner, Tegan Brink and senior executives from Qantas, South African Tourism, the Gauteng Tourism Authority and the Tourism Business Council of South Africa.

De Lille said the new direct route represents more than just an addition to South Africa’s air network. 

“This is not just a new connection on a route map; it is a bridge between two nations, two peoples, and two tourism markets with enormous potential. It unlocks deeper collaboration, increased two-way travel, and stronger people-to-people ties,” she said.

The launch follows shortly after South Africa’s successful hosting of the G20 Summit in November, a milestone which showcased the country’s capability as a world-class Meetings, Incentives, Conferences and Exhibitions (MICE) destination. 

“The world recently saw a confident, warm, and capable South Africa, able to host global leaders with distinction. This momentum is carried forward through initiatives like expanded air connectivity.

She further emphasised that increased air connectivity remains a central pillar of the Tourism Growth Partnership Plan 2025-2029, particularly under its ease-of-access focus area, which addresses air routes, visa systems, and the removal of travel barriers.
The latest aviation data reflects strong recovery and expansion:
• International seat capacity now stands at 8.5 million, a 9.1% increase over 2024.
• 4.6 million seats are allocated to long-haul routes and 3.9 million to short-haul routes.
• Double-digit seat growth has been recorded since June 2025.

“This is airlift expansion at scale, backed by policy, planning and strong partnerships,” the Minister said.
Strengthening connectivity 
The Johannesburg–Perth service significantly strengthens South Africa’s connectivity with the Oceania region and is expected to play a critical role in growing inbound business events and leisure tourism.

It also provides improved access ahead of major industry events such as Meetings Africa 2026 and Africa’s Travel Indaba 2026.
The route will also benefit South Africans travelling to Australia for business, education and family purposes, reinforcing two-way mobility and economic participation. 

Tourism performance from Australia continues to show strong growth:
• Arrivals from Australia in 2025 are nearly 30% higher than in 2024.
• Arrivals are now 10% above pre-COVID levels, signalling not only recovery but sustained expansion.

The new direct flight is also expected to play a strategic role as South Africa prepares to host major international sporting events, including the ICC Men’s Cricket World Cup in 2027, further strengthening sporting and cultural ties between the two nations.

“Sport has always been a powerful bridge between South Africa and Australia. This service strengthens that bond even further,” the Minister said.

Minister De Lille further highlighted that South African Tourism will work closely with Qantas and industry partners to stimulate demand and ensure the long-term success of the route, while also positioning South Africa as an accessible gateway for travellers from across the wider Oceania region, including New Zealand.

“South Africa is rising. Tourism is thriving. And the world is taking notice. This new route brings new opportunities, new partnerships, and new travellers. South Africa awaits, and we cannot wait to welcome visitors who will arrive because of this flight,” the Minister concluded. – SAnews.gov.za
 

 

Edwin

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Le Groupe de la Banque africaine de développement approuve près de 160 millions de dollars américains en faveur de la République Démocratique du Congo (RD Congo) pour renforcer la connectivité du parc agroindustriel de Ngandajika

Source: Africa Press Organisation – French

Le Conseil d’administration du Groupe de la Banque africaine de développement (www.AfDB.org) a approuvé un prêt de 159,50 millions de dollars américains en faveur du Projet de renforcement de la connectivité au parc agroindustriel de Ngandajika, en République démocratique du Congo.

Le coût total du projet s’élève à 177,16 millions de dollars, cofinancé par le Gouvernement congolais.

Ce projet stratégique vise à désenclaver le parc agroindustriel de Ngandajika (PAIN) et à renforcer son intégration aux principaux axes économiques de la région centre. Il prévoit l’aménagement des routes reliant Nkuadi-Ngandajika-PAIN et Lukalaba-Ngandajika, ainsi que l’amélioration des liaisons entre la Route nationale 1 (RN1) et la Route nationale 2 (RN2). Le projet comprend également l’extension de la piste de l’aéroport de Mbuji-Mayi, afin de soutenir le fret agro-industriel.

« Ce projet constitue un jalon stratégique majeur pour l’intégration économique de l’Afrique centrale et pour l’industrialisation agricole de la RDC. En renforçant l’accès au parc agro-industriel de Ngandajika, nous ne faisons pas qu’améliorer une route : nous consolidons une chaîne de valeur essentielle, nous ouvrons de nouveaux corridors d’échanges, et nous créons un levier puissant pour la compétitivité, l’emploi et l’inclusion économique — en particulier pour les femmes et les jeunes. Ce projet illustre pleinement notre engagement en faveur d’infrastructures structurantes au service d’une transformation durable et souveraine des économies de la région »,  a déclaré Léandre Bassolé, directeur général de la Banque africaine de développement pour l’Afrique centrale.

Les travaux bénéficieront directement aux agriculteurs, aux opérateurs de transport et aux agro-industries des provinces du Kasaï oriental et de la Lomami, en réduisant les coûts logistiques et en facilitant l’accès aux marchés. Les jeunes et les femmes, largement impliqués dans les activités agricoles et commerciales locales, profiteront de nouvelles opportunités économiques grâce à de meilleures infrastructures.

L’intervention s’inscrit dans la mise en œuvre du Programme des Transformations Agricoles (PTA) et complète le Programme d’Appui au Développement de la Zone Spéciale de Transformation Agroindustrielle de Ngandajika (PRODAN) (https://apo-opa.co/4pQPBpE). Elle contribue également aux objectifs de la Zone de libre-échange continentale africaine (ZLECAf), en améliorant la connectivité et les capacités commerciales.

« Ce projet va lever l’un des principaux obstacles à la compétitivité du parc agroindustriel de Ngandajika : l’absence d’infrastructures fiables pour l’acheminement des intrants et l’évacuation de la production. Les nouveaux axes routiers et l’amélioration de la desserte aérienne permettront de réduire significativement les coûts logistiques et d’accélérer l’intégration des producteurs aux chaînes de valeur agro-industrielles. », a déclaré le Johnny Makwela, chef de projet.

Aligné sur le Document de Stratégie Pays 2023-2028 pour la RDC, le projet appuie le développement des chaînes de valeur agricoles, renforce la sécurité alimentaire et stimule la compétitivité des productions locales.

Par cette nouvelle opération, la Banque africaine de développement réaffirme son engagement à soutenir la transformation économique durable de la RDC.

Distribué par APO Group pour African Development Bank Group (AfDB).

Contact media :
Solange Kamuanga-Tossou
Département de la communication et des relations extérieures
email : media@afdb.org

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The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) Supports EUR 132.5 Million Financing to Strengthen Uzbekistan’s Steel Industry

Source: APO

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (https://ICIEC.IsDB.org), a Shariah-compliant multilateral insurer and member of the Islamic Development Bank (IsDB) Group, is pleased to announce its support for a landmark EUR 132.5 million financing arranged by Standard Chartered for Joint-Stock Company “O’zbekiston Metallurgiya Kombinat” (Uzmetkombinat), the largest steel producer in Uzbekistan. 

The financing, backed by ICIEC’s sovereign cover, will enable the completion of Uzmetkombinat’s new Casting and Rolling Complex in Bekabad, Southern Uzbekistan. Once completed, the facility will produce hot-rolled coils (HRCs)—a critical product previously imported—thereby boosting the country’s self-sufficiency in steel production and enhancing competitiveness in the construction and manufacturing sectors. 

The introduction of domestically produced HRCs marks a new milestone for Uzbekistan, ensuring greater supply chain efficiency and reduced costs for local industries such as pipe manufacturing and construction. The investment will also have a significant social and economic impact in Bekabad, a city of 100,000 people where Uzmetkombinat already employs more than 8,000 workers and sustains thousands of indirect jobs. 

This project represents the second significant transaction between ICIEC and Standard Chartered in Uzbekistan during 2025. Previously, ICIEC supported a EUR 160.4 million Islamic financing facility for Joint-Stock Commercial Bank “Agrobank,” enhancing access to finance for small and medium-sized enterprises (SMEs) across the country. 

Commenting on the transaction, Dr. Khalid Khalafalla, CEO of ICIEC, stated: “This landmark transaction exemplifies ICIEC’s mandate to de-risk trade and investment and to catalyze sustainable economic growth across our Member States. By supporting Uzbekistan’s largest steel producer, we are not only fostering the development of critical industrial capacity but also contributing to enhanced self-reliance, job creation, and long-term economic resilience. We are proud to deepen our collaboration with Standard Chartered through this second major transaction in Uzbekistan, which underscores the strength of our partnership and our shared commitment to advancing impactful development projects.” 

Desislava Radeva, Executive Director, Development and Agency Finance, Standard Chartered, says: “We are proud to partner once again with ICIEC to support a valuable client, Uzmetkombinat. Steel production represents a key strategic industry for Uzbekistan and the domestic sourcing of HRCs is a huge leap forward for the country. It is an example of Standard Chartered’s expertise in driving prosperity in some of the world’s most dynamic markets.” 

Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

Email:
ICIEC-Communication@isdb.org  

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About The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC): 
As a member of the Islamic Development Bank (IsDB) Group, ICIEC commenced operations in 1994 to strengthen economic relations between OIC Member States and promote intra-OIC trade and investment by providing credit enhancement and risk mitigation solutions. The Corporation is the only Islamic multilateral insurer in the world and has been at the forefront of delivering a comprehensive suite of de-risking solutions to support cross-border trade and investment for its 51 Member States. ICIEC has maintained its “Aa3” rating with a stable outlook from Moody’s for 18 consecutive years, positioning the Corporation among the leaders in the Credit and Political Risk Insurance (CPRI) industry. Additionally, S&P has reaffirmed ICIEC’s “AA-” rating for the second year with a stable outlook. ICIEC’s resilience is underpinned by its sound underwriting practices, global reinsurance network, and strong risk management framework. Since inception, ICIEC has cumulatively insured over USD 121 billion in trade and investment, supporting key sectors such as energy, manufacturing, infrastructure, healthcare, and agriculture in its member states.  

For more information, Visit https://ICIEC.IsDB.org  

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Democratic Republic of the Congo (DR Congo): The African Development Bank Group grants nearly $160 million to strengthen connectivity to the Ngandajika agro-industrial park

Source: APO

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $159.50 million loan to the Democratic Republic of Congo (DRC) to improve connectivity to the Ngandajika Agro-Industrial Park and help open up the country’s central region.

The total project cost is $177.16 million, with co-financing from the Congolese government.

The Project to Strengthen Connectivity at the Ngandajika Agro-Industrial Park is a strategic investment aimed at integrating the park more effectively into the main economic corridors of central DRC.

The project includes upgrades to the Nkuadi–Ngandajika–PAIN and Lukalaba–Ngandajika roads, as well as improvements to the connecting sections between National Roads 1 and 2 (RN1 and RN2). It also provides for the extension of the Mbuji-Mayi airport runway to support the growth of agro-industrial air freight.

“This project is a major milestone for Central Africa’s economic integration and for advancing agricultural industrialization in the DRC. By improving access to the Ngandajika agro-industrial park, we are doing more than upgrading a road. We are strengthening a critical value chain, opening new trade corridors, and creating powerful opportunities for competitiveness, jobs and economic inclusion – especially for women and young people. This initiative reflects our commitment to delivering transformative infrastructure that drives sustainable and sovereign economic development in the region,” said Léandre Bassolé, the African Development Bank’s Director General for Central Africa.

The project will directly benefit farmers, transporters and agro-industrial operators in Lomami province, the surrounding park area and Kasaï Oriental, by lowering logistics costs and improving access to markets. Women and young people – who play a key role in local agricultural and commercial activities – will gain new economic opportunities thanks to better infrastructure.

The initiative forms part of the Bank Group’s Agricultural Transformation Programme (PTA) and complements the Support Programme for the Development of the Ngandajika Special Agro-Industrial Processing Zone (PRODAN) (https://apo-opa.co/4oTvFSo). It also advances the goals of the African Continental Free Trade Area (AfCFTA) by enhancing trade and connectivity.

“This project will remove one of the main constraints limiting the competitiveness of the Ngandajika agro-industrial park: the lack of reliable transport infrastructure for supplying inputs and moving production,” said Johnny Makwela, the project task manager. “The new road links and improved air access will significantly reduce logistics costs and accelerate the integration of producers into agro-industrial value chains,” he added.

The project supports the development of agricultural value chains, strengthens food security and boosts the competitiveness of local production – contributing directly to the implementation of the Bank Group’s 2023–2028 Country Strategy Paper for the DRC.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Media contact:
Solange Kamuanga-Tossou
Communication and External Relations Department
media@afdb.org

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Dr Jennifer Glennie described as an advocate for education and social justice

Source: Government of South Africa

Dr Jennifer Glennie described as an advocate for education and social justice

The Minister of Science, Technology, and Innovation, Professor Blade Nzimande, has joined the nation in mourning the passing of Dr Jennifer Anne Glennie.

Glennie passed away in a car accident on Tuesday, 2 December 2025, at the age of 75. She was born in Johannesburg and graduated from the University of the Witwatersrand with a first-class Honours degree in pure mathematics in 1971.

According to Nzimande, Glennie, who trained as a mathematician, was not only a distinguished and lifelong progressive educationalist but also a tireless advocate for social justice. 

The Minister praised the late mathematician for her immeasurable contribution to ensuring equal access to education for all and to the transformation of society.

“At the height of the anti-apartheid struggle, she initiated and participated in the formation of a number of progressive education initiatives and projects.” 

Through Khanya College, which was popularly known as the “people’s college”, Nzimande said she contributed to empowering black young people from marginalised communities and preparing them for university education.

According to the Minister, her intervention laid the basis for future policy thinking on the transformative power of people’s education and fed into and deeply informed the formation of the National Education Crisis Committee (NECC) in 1986 and its declaration for a radically new people’s education system.

In later years, as the founding Director of the South African Institute of Distance Education (SAIDE), she championed innovative and inclusive solutions, including the African Storybook initiative, which promotes home-language literacy for African children.

In her roles as a member of the Council for Higher Education (CHE), Council and Broad Transformation Forum Member at the University of South Africa (UNISA) and Council Member at Sol Plaatje University, she made a significant contribution to shaping and strengthening higher education policy and governance in our country.

Owing to her lifelong commitment to educational development and social justice, the Minister said Glennie was a recipient of a number of prestigious national and international honours.

These include being appointed as a Fellow of the International Commonwealth of Learning, the Chancellor’s Medal from the University of Pretoria for her contribution to education and the African Council for Distance Education Legacy Service Award for her exceptional contribution to the field of open distance and e-learning.

“It is also worth pointing out that her work in the field of education contributed to significant advances in related areas such as reading for meaning, technology for education, mother tongue-education and decolonisation.

“Her indefatigable and visionary educational activism over the past five decades also intersected with the various grassroots interventions that were implemented by the liberation movement during the dark days of apartheid, under the vision of ‘A People’s Education for People’s Power.’” 

Nzimande believes that the totality of her work contributed to a much larger goal, building South Africa into a country where all its citizens can realise their potential, regardless of their race, gender, class, religion, or area of residence.

“The passing of Dr Glennie constitutes an incalculable loss to our country’s education and science fraternity.

“Those of us who worked with her will remember her as an irrepressible activist and ethical public servant, who dedicated her knowledge and skills to the building of a humane and just country and world.”– SAnews.gov.za

 

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