Category: Africa

Posted on

Address by Deputy President Shipokosa Paulus Mashatile on the occasion of the China International Supply Chain Expo (CISCE), Shunyii Exhibition Centre, Beijing

Source: President of South Africa –

Chairman of the CCPIT, Mr Ren Hongbin;
Chinese Leaders, here present;
Secretary-General of the International Chamber of Commerce, Mr John Denton;
Chairman of CITIC Group, Mr Hua Xiguo;
Honourable Ministers and Deputy Ministers here Present;
Leaders of Industry and Commerce;
Distinguished Guests;

Good Morning, 

I am honoured to address this distinguished gathering at the China International Supply Chain Expo at a time when global supply chains, trade patterns and industrial cooperation are undergoing profound transformation.

On behalf of the Government and people of the Republic of South Africa, I extend our sincere appreciation to the Government of the People’s Republic of China and the CCPIT for the gracious invitation to participate in this year’s Expo.

Our presence here today reflects South Africa’s unwavering commitment to deepening our comprehensive economic partnership with China, aimed at advancing trade, investment, and long-term industrial cooperation.

Ladies and Gentlemen,

We meet at a defining moment in the global economy. Geopolitical shifts, technological advancements, climate imperatives, and changing patterns of production are reshaping the architecture of global commerce. At the same time, countries and businesses are seeking greater resilience, diversification, decarbonisation and sustainability within global supply chains.

In this context, the China International Supply Chain Expo serves as an important platform to strengthen partnerships, rebuild confidence in global trade systems and promote inclusive and sustainable economic growth.

South Africa and China enjoy a deep and enduring Comprehensive Strategic Partnership founded on mutual respect, solidarity, and a shared vision for development. Our cooperation continues to expand through strong trade and investment ties, as well as through platforms such as BRICS, the Forum on China-Africa Cooperation and other multilateral engagements.

As we navigate this evolving global landscape, South Africa offers a compelling value proposition within international supply chains.

First, South Africa is an attractive investment destination, supported by sophisticated industrial capabilities, a world-class financial sector, and well-established logistics infrastructure. We remain committed to reforms aimed at improving the ease of doing business, accelerating infrastructure development, and strengthening industrial competitiveness, through the use of Artificial Intelligence (Al).

Second, South Africa is a reliable source of high-value products and critical inputs required for modern industries and the global energy transition. We are endowed with significant mineral resources, including platinum group metals, manganese, and chromium, while also offering world-class agricultural products, advanced manufacturing capabilities and growing strengths in services and digital trade.

A key objective of our engagement in Beijing is to expand the range and value of South African exports entering the Chinese market and to shift our trade relationship increasingly towards value-added manufactured goods.

Third, South Africa serves as a gateway to the African continent. Through the African Continental Free Trade Area, investors located in South Africa gain access to a market of more than 1.3 billion people. This presents significant opportunities for regional value chain development and industrial expansion across Africa.

We invite Chinese and international partners to work with us in positioning Africa not merely as a consumer market, but as a competitive production base, a sourcing destination, and an important node within global supply chains.

Ladies and Gentlemen,

An important pillar of our engagement is the implementation of the Framework Agreement on Economic Partnership for Shared Prosperity, or CADEPA, signed earlier this year by our respective trade ministers.

Its implementation is complemented by the zero-tariff preference scheme that came into effect on 1 May 2026, allowing qualifying South African exports to enter the Chinese market duty-free.

South Africa is therefore positioning itself as a reliable supply base for critical inputs, a destination for industrial beneficiation and an ideal partner for co-production. 

We see significant opportunities for collaboration in three priority areas:

Firstly, agriculture and food systems. South Africa produces high-quality citrus, avocados, stone fruits, wines, and macadamia nuts, which now benefit from zero customs duties under the CADEPA framework. We encourage Chinese importers and distributors to establish long-term sourcing partnerships with South African producers.

Secondly, critical minerals and the green economy. South Africa possesses substantial reserves of platinum group metals and other strategic minerals required for fuel cells, renewable energy technologies, and energy storage solutions. We invite Chinese enterprises to explore opportunities for joint ventures, local beneficiation, and downstream manufacturing in South Africa.

Thirdly, advanced manufacturing, logistics and automotive value chains. South Africa’s industrial base offers attractive opportunities for component manufacturing, machinery production and export-oriented partnerships serving both domestic and African markets.

Ladies and Gentlemen,

As we shape the future of global supply chains, we must ensure that our partnerships remain inclusive and sustainable. Economic cooperation should contribute to job creation, skills development, industrial growth, environmental sustainability, and deliver tangible benefits for our people.

South Africa reaffirms its commitment to strengthening economic cooperation with China. We are determined to position our country as both a preferred destination for investment and a reliable source of value within global supply chains.

We are confident that this Expo will contribute to a new phase of practical cooperation, deeper industrial integration, and shared prosperity for all people.

I thank you, Xièxie.
 

Posted on

African Electric Vehicle (EV) platform Spiro secures $55M additional backing from Chinese investor NewTrails Capital to boost electric mobility and energy infrastructure in Africa

Source: APO

  • With a fresh $55M million investment from Chinese growth-stage fund NewTrails Capital, Spiro consolidates backing from a powerful consortium of global institutional and impact investors and closes its last funding round to $270M.
  • As African economies push to reduce dependence on imported fuel, reinforce energy and industrial sovereignty and modernize urban transport systems, the record closing of this last round confirms global investors are increasingly turning to scalable EV infrastructure platforms and Spiro’s strong ambitions for the year to come.
  • Already operating across seven of Africa’s fastest-growing urban markets, Spiro will further accelerate the expansion of Spiro’s battery-swapping network, industrial footprint and next-generation electric vehicles (EV) infrastructure across high-growth African markets.​

Spiro (https://www.Spironet.com), Africa’s leading electric vehicle (EV) and clean energy infrastructure platform, today announced the successful closing of its latest funding round at $270 million.

This milestone follows a newly finalized $55 million investment from NewTrails Capital, a prominent Chinese growth-stage investment fund focusing on emerging markets with strategic locations in Shanghai, Shenzhen and Nigeria.

Scaling Africa’s next-generation mobility and energy ecosystem

This capital injection positions Spiro among the continent’s most heavily backed Africa’s e-mobility and energy ecosystem.

Building on the support of long-standing institutional partners such as FEDA, Spiro’s latest equity round also draws global capital from Europe and Africa, Impact Fund Denmark, Equitane and FEDA, on top of the recent backing from Nithio and the Africa Go Green Fund.

“I would like to thank NewTrails Capital for believing in Spiro’s model and supporting our unique tech, energy and innovation journey. Having deployed 100,000 electric vehicles and 2,500 smart-swap stations across seven active markets, Spiro has firmly moved past the proof-of-concept phase. Partnering with NewTrail Capital’s deeply experienced team marks a powerful new chapter for Spiro as we prepare for the next steps of our pan-African and international expansion”, stated Gagan Gupta, Founder of Spiro and Chairman of Equitane.

Yufan Zhang, Founding Partner of NewTrails Capital, added:

“We believe Spiro is driving a profound “energy revolution” across mobility use cases in Africa. This represents not only a vast and highly imaginative market opportunity, but also the potential to grow into an infrastructure-like business that creates meaningful commercial, social, and environmental value.

In our view, Spiro’s core strengths lie in its deeply localized operating capabilities, vertically integrated supply chain, digitally enabled ecosystem, sound unit economics, and strong ability to scale rapidly. More importantly, Spiro has systematically integrated vehicles, batteries, energy replenishment, payments, and service networks into a solution that is truly tailored to the needs of African users, effectively addressing long-standing structural pain points in the local market.

As a Chinese fund committed to investing in Africa’s energy transition and green technology, we are also very encouraged to see Chinese supply chains and financing playing an increasingly important role in this process. Spiro is still a young company, and everything today is only the beginning. We look forward to continuing to fulfill our role as a long-term investor, contributing our resources and experience, growing together with Spiro, and helping accelerate Africa’s new energy transition.”,

This partnership will be instrumental to support Spiro’s current manufacturing and supply chain localisation effort on the continent in particular with Chinese suppliers.

Distributed by APO Group on behalf of Spiro.

Media Contact:
Flora Limukii
Head of Corporate Communications, Spiro
Email: communications@spironet.com

About Spiro:
Spiro is Africa’s largest electric mobility company and operates the continent’s most extensive battery-swapping network for electric two-wheel vehicles. With more than 100,000 electric motorcycles on the road, over 2,500 swapping stations and more than 30 million battery swaps to date, Spiro is replacing expensive fossil-fuel transport with affordable, accessible and sustainable mobility solutions. Through its growing regional production and assembly footprint, Spiro is committed to building electric vehicles made in Africa by Africans for Africa and the world. https://www.Spironet.com

About NewTrails Capital:
NewTrails Capital is a growth-stage investment fund dedicated to emerging markets across Africa, the Middle East, Southeast Asia, and Latin America. Aligning with global growth corridors like the Belt and Road initiative, the fund backs visionary entrepreneurs utilizing global supply chains and capital to drive green technology and energy transitions.

Media files

.

Posted on

Eritrea: Martyrs Day observed in Gash Barka and Anseba regions

Source: APO


.

Martyrs Day, 20 June, was observed in the Gash Barka and Anseba regions with patriotic zeal, featuring various programs.

At the program organized in Barentu, Ambassador Mahmud Ali Hirui, Governor of Gash Barka Region, and Col. Habtu Gebre’endrias, Commander of the Popular Forces of the Western Front, laid wreaths at the Barentu Martyrs Cemetery.

Mr. Tesfa’alem Bahta, administrator of Barentu sub-zone, said that 20 June is a day on which the Eritrean people renew their pledge to live up to the expectations of their martyrs.

The residents of Barentu and its environs also conducted a candlelight vigil in the streets of the city on 19 June, featuring cultural and artistic performances depicting the deep meaning of the day.

Similarly, at an event in which thousands of Keren city residents conducted a walkathon to the Martyrs Cemetery, Col. Kibrom Nirayo, representing the Governor of Anseba Region, laid a wreath. The program also included planting of tree seedlings.

Col. Kibrom said that Martyrs Day, beyond commemoration, is a day on which citizens renew their pledge to live up to the expectations of martyrs and extend support to families of martyrs. A candlelight vigil was also conducted on 19 June in the streets of Keren city.

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

Posted on

Seychelles: Moment of Triumph, President Herminie Crowns Champions at 46th National School Athletics Championship

Source: APO


.

A day marked by at least eight new record-breaking performances, intense competition, and sporting excellence came to a fitting conclusion yesterday, at Stad Linite as President Dr Patrick Herminie presented the President’s Cup to the Seychelles Police Academy (SPA), one of the overall winners of the 46th National School Athletics Championship.

President Herminie joined students, teachers, parents and supporters in witnessing the culmination of one of the country’s most anticipated school sporting events. 

Also present were Vice-President Sebastien Pillay, the wife of the Vice-President Mrs Lina Pillay, Principal Minister Wallace Cosgrow, Minister for Education and Human Resource Development Mr David Pierre, Minister for Youth and Sport Ms Kalsey Belle, Minister for Homeland Security and Civil Affairs Mr James Camille, Minister for Local Government and Inner Islands Ms Eveline Rose, Minister for Tourism and Culture Mrs Amanda Bernstein, Minister for Health Mr Marvin Fanny, Minister for Transport, Ports and Civil Aviation Ms Veronique Laporte, Minister for Employment and Human Resource Planning Ms Idith Alexander, Leader of Government Business of the National Assembly Ms Sylvanne Lemiel, Members of the National Assembly and other high-ranking government officials.

The championship brought together hundreds of young athletes from primary, secondary and post-secondary institutions across Seychelles, who competed in a wide range of track and field events throughout the day.

Other schools recognised for their outstanding performances included La Digue School, which secured the title of Best Small School, Perseverance Primary School as Best Primary School, and Praslin Secondary School as Best Secondary School.

Athletes competed across a variety of disciplines, including sprints, middle-distance races, relays, long jump, high jump, shot put, producing impressive performances throughout the championship.

The championship also recognised schools and individuals for their outstanding performances and sportsmanship throughout the competition. Perseverance Primary School received the Fair Play Award in the primary category, while Praslin Secondary School claimed the secondary category Fair Play Award. The Seychelles Police Academy (SPA) received the post-secondary Fair Play Award, and Anse aux Pins was recognised with the Spectator Fair Play Award.

Among the category winners, Perseverance Primary School won the Under-8 Girls division, while the Under-8 Boys title was shared by Anse Etoile Primary School and Perseverance Primary School. La Digue School dominated the Under-10 category, winning both the girls’ division with 42 points and the boys’ division.

Glacis Primary School claimed victory in the Under-12 Girls category, while Perseverance Primary School topped the Under-12 Boys division. In the Under-14 Primary category, Baie Ste Anne Primary School won the girls’ division and Perseverance Primary School secured the boys’ title.

Praslin Secondary School continued its strong showing by winning both the Under-14 Girls and Under-14 Boys categories, as well as the Under-16 Girls and Under-16 Boys divisions. In the Under-18 category, La Digue School emerged victorious among the girls, while Praslin Secondary School claimed the boys’ title.

At post-secondary level, the Seychelles Business Studies Academy (SBSA) won the Open Girls category, while the Seychelles Institute of Technology (SIT) secured the Open Boys title.

Individual honours were also presented to the competition’s Most Valuable Athletes (MVA). Samira Albert of La Digue School was named MVA for Primary Girls, while Tyron Arnephy of Perseverance Primary School received the Primary Boys award. Kadijah of Anse Royale Secondary School was recognised as the MVA for Secondary Girls, and Leandro Labiche of Praslin Secondary School was named MVA for Secondary Boys.

Distributed by APO Group on behalf of State House Seychelles.

Posted on

President Herminie Pays Tribute to Fathers Across Seychelles on Father’s Day

Source: APO


.

The President of the Republic, Dr Patrick Herminie, joins the nation in celebrating Father’s Day and pays tribute to all fathers, grandfathers and father figures whose love, strength, guidance and sacrifice help shape strong families and a stronger Seychelles.

Today is an opportunity to recognise the often quiet yet profound contribution that fathers make every day. Whether as providers, protectors, mentors or caregivers, fathers play an irreplaceable role in nurturing children, strengthening family bonds and helping to build communities founded on responsibility, compassion and respect. Their influence extends far beyond the home, helping to shape the character, confidence and future of the next generation.

President Herminie also acknowledges the many fathers who carry their responsibilities with resilience despite personal hardship, those raising children on their own, and the father figures who have stepped forward to guide, protect and inspire where they were needed most. Their commitment deserves not only gratitude today, but recognition throughout the year.

As our nation continues to invest in stronger families and brighter futures, the President encourages every father to embrace the privilege and responsibility of fatherhood with love, integrity and purpose. He also calls upon society to continue valuing and supporting positive fatherhood as an essential foundation for national development.

On this Father’s Day, President Herminie extends his sincere appreciation to every father and father figure across Seychelles. May your dedication be celebrated, your sacrifices recognised, and your day be filled with the love, gratitude and pride of those whose lives you have helped shape.

Distributed by APO Group on behalf of State House Seychelles.

Posted on

Célébration de la Journée mondiale des réfugiés, 2026 : Le Bénin réaffirme son engagement pour une meilleure protection

Source: Africa Press Organisation – French


La Maison des jeunes de la ville de Natitingou a accueilli, le samedi 20 juin 2026, les manifestations officielles entrant dans le cadre de la célébration de la Journée mondiale des réfugiés, édition 2026. La cérémonie d’ouverture des célébrations a été présidée par Monsieur Djibril MAMA CISSE, Ministre chargé de l’Intérieur et de la Sécurité publique, en présence de Madame Aminatou SAR, Coordonnatrice résidente du Système des Nations Unies au Bénin, et de Monsieur Thomas WYLLIE, Directeur Adjoint régional du Haut-Commissariat des réfugiés pour l’Afrique de l’Ouest. Elle a été marquée par des allocutions, la visite de stands d’exposition des activités génératrices de revenus menées par les réfugiés ainsi que la mise en terre de quelques plants d’arbres. 

« Jusqu’à ce que tout le monde soit en sécurité ». C’est le thème retenu cette année sur le plan international pour susciter la réflexion autour de la question des réfugiés et des demandeurs d’asile dans le monde. Le Bénin, d’après les chiffres actualisés, accueille en effet sur ses terres 29.000 réfugiés et demandeurs d’asile, ainsi que 14.000 demandeurs en attente d’obtenir le statut de réfugié. 

Dans son allocution prononcée à l’occasion de cette célébration, Madame Aminatou SAR, Coordonnatrice résidente du Système des Nations Unies au Bénin, affirme que ces chiffres traduisent une pression réelle sur le pays, mais révèlent également l’engagement du gouvernement béninois et de son peuple à accueillir et offrir la protection aux réfugiés et demandeurs d’asile. Le système des Nations Unies, assure-t-elle, demeure mobilisé aux côtés du Bénin et de son gouvernement et travaille chaque jour pour protéger les personnes déplacées, assurer l’accès à l’alimentation et aux soins, garantir l’éducation des enfants et offrir un soutien psychosocial. 

Dans son intervention à cette occasion, Monsieur Djibril MAMA CISSE, Ministre chargé de l’Intérieur et de la Sécurité publique, déclare que la célébration de la Journée mondiale des réfugiés est une occasion privilégiée pour réaffirmer la solidarité à l’égard des personnes contraintes de quitter leurs foyers pour échapper aux persécutions, aux conflits et aux violences. Pour lui, le thème de cette année, « Jusqu’à ce que tout le monde soit en sécurité », rappelle que la protection des réfugiés est une responsabilité partagée qui exige solidarité, humanité et coopération entre les organisations internationales et les communautés. Le Bénin, rassure-t-il, garantit la protection des réfugiés grâce à un cadre juridique et institutionnel renforcé, ce qui permet aux réfugiés de bénéficier, en terre béninoise, de l’accès à des services essentiels, notamment dans les domaines de la santé, de l’éducation, de l’emploi et de la protection sociale. 

Malgré le contexte sécuritaire actuel, Monsieur Djibril MAMA CISSE réaffirme l’attachement du Bénin et de son gouvernement au droit d’asile et au principe de non-refoulement, car l’impératif de sécurité nationale et les exigences de protection internationale peuvent être conciliés grâce à des mécanismes efficaces d’identification, d’enregistrement et de contrôle des réfugiés et demandeurs d’asile. 

La cérémonie officielle de lancement des célébrations de la Journée mondiale des réfugiés a été aussi marquée par les interventions de Monsieur Thomas WYLLIE, Directeur Adjoint régional du Haut-Commissariat des réfugiés pour l’Afrique de l’Ouest, du premier adjoint au maire de Natitingou, Monsieur Norbert Tido N’DAH, et du porte-parole des réfugiés, Monsieur Albert NACOULMA. Ce dernier a réitéré la promesse des réfugiés de respecter les lois et règlements du Bénin et d’œuvrer pour une meilleure cohésion sociale. 

La cérémonie s’est achevée par la mise en terre de quelques plants d’arbres et d’autres activités.

Distribué par APO Group pour Gouvernement de la République du Bénin.

Posted on

President of the Republic of Azerbaijan Receives Delegation of Heads of Member Institutions of the Arab Coordination Group

Source: APO

President of the Republic of Azerbaijan H.E. Ilham Aliyev received, on June 18, a delegation comprising the heads of member institutions of the Arab Coordination Group (ACG) (https://TheACG.org), as well as Arab Ministers of Finance and senior officials participating in the 2026 Annual Meetings of the Islamic Development Bank Group in Baku.

The delegation included H.E. Dr. Muhammad Sulaiman Al Jasser, Chairman of the Islamic Development Bank (IsDB) Group; Dr. Abdulhamid Alkhalifa, President of the OPEC Fund for International Development; Mr. Abdullah Khalil Al-Musaibeeh, President of the Arab Bank for Economic Development in Africa; Dr. Fahad Alturki, Director General and Chairman of the Board of the Arab Monetary Fund; Mr. Sultan Abdulrahman Al-Marshad, Chief Executive Officer of the Saudi Fund for Development; Mr. Hammam bin Nasser bin Juraied, Executive Director of the Arab Gulf Programme for Development; and Mr. Thamer Al-Failakawi, Director of Operations at the Kuwait Fund for Arab Economic Development.

The delegation also included H.E. Mr. Mohammed bin Abdullah Al-Jadaan, Minister of Finance of the Kingdom of Saudi Arabia; H.E. Mr. Yaqoub Al-Rifai, Minister of Finance of the State of Kuwait; H.E. Mr. Ali bin Ahmed Al Kuwari, Minister of Finance of the State of Qatar; and Mr. Ali Abdullah Sharafi, Assistant Undersecretary for International Financial Relations at the Ministry of Finance of the United Arab Emirates.

During the meeting, President Ilham Aliyev underscored the importance of the participation of the heads of ACG member institutions and Arab Ministers of Finance in the 2026 Annual Meetings of the Islamic Development Bank Group. He also highlighted the strong and active cooperation between Azerbaijan and the member institutions of the Arab Coordination Group, noting that several projects are currently under implementation and stressing the importance of the documents to be signed in this regard.

Expressing gratitude for the gracious welcome extended in Azerbaijan, H.E. Dr. Muhammad Sulaiman Al Jasser conveyed the delegation’s appreciation to President Ilham Aliyev for the reception. He also expressed his high appreciation for the President’s continued support for strengthening cooperation between Azerbaijan and the Arab Coordination Group.

The two sides reviewed the broad opportunities available to further expand the partnership between Azerbaijan and ACG member institutions. They also underlined the importance of Azerbaijan’s favorable investment climate in supporting the implementation of joint projects with the member institutions of the Arab Coordination Group.

Following the meeting, and in the presence of the President of Azerbaijan, a loan agreement was signed for the “Construction of the Sumgayit New Wastewater Treatment Facility” project. In addition, a Memorandum of Understanding was exchanged to expand cooperation between the Ministry of Economy of the Republic of Azerbaijan, the Azerbaijan State Water Resources Agency, and members of the Arab Coordination Group on the “Construction of Water Supply and Sewerage Systems for 33 Residential Settlements in the Absheron Peninsula” project.

At the conclusion of the meeting, President Ilham Aliyev presented the “Dostlug” — Friendship — Order to H.E. Dr. Muhammad Sulaiman Al Jasser, in recognition of his contribution to the development of cooperation between Azerbaijan and the Islamic Development Bank.

H.E. Dr. Muhammad Sulaiman Al Jasser expressed his sincere gratitude to the President of the Republic of Azerbaijan for this high distinction and for the appreciation shown for his efforts to strengthen cooperation between Azerbaijan and the IsDB Group.

Distributed by APO Group on behalf of Arab Coordination Group (ACG).

About the Arab Coordination Group (ACG): 
The Arab Coordination Group (ACG) is a strategic alliance that provides a coordinated response to development finance. Since its establishment in 1975, the ACG has been instrumental in developing economies and communities for a better future, providing more than 13,000 development loans to over 160 countries around the globe. The ACG works across the globe to support developing nations and create a lasting, positive impact. The Arab Coordination Group (ACG) is considered one of the most important and effective development partnerships at the international level. The group actively works to adopt the best global practices in sustainable development work. It also aims to align the efforts of these institutions to achieve convergence and harmonization in the policies governing their financing operations.

The Group comprises 10 national, Arab regional, and international institutions, including the Abu Dhabi Fund for Development, the Arab Bank for Economic Development in Africa, the Arab Fund for Economic and Social Development, the Arab Gulf Programme for Development, the Arab Monetary Fund, the Islamic Development Bank, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development, the Qatar Fund for Development and the Saudi Fund for Development. www.TheACG.org

Media files

.

Posted on

SA urged to register as registration weekend draws to a close

Source: Government of South Africa

SA urged to register as registration weekend draws to a close

South Africans have only a few hours left to register to vote at voter registration stations ahead of the upcoming Local Government Elections.

In a statement on Sunday, the Electoral Commission (IEC) reported strong participation on the second and final day of the national voter registration weekend.

The Commission said Sunday’s registration activities got off to an even stronger start than the previous day, despite challenging weather conditions in several parts of the country.

According to the IEC, more than 90% of registrations were being completed in person at voter registration stations, although online registration will remain an additional option beyond the registration weekend.

Early indications show that KwaZulu-Natal and the Eastern Cape are leading the country in registration activity, followed by Gauteng and Limpopo.

The Electoral Commission has urged all eligible South Africans who have not yet registered, as well as those who need to update their registration details, to make use of the remaining hours before registration stations close at 5pm.

“Voting stations across the country will remain open until 5pm to assist voters to register and verify their registration information,” the Commission said.

The registration drive forms part of preparations for the Local Government Elections scheduled for 4 November 2026.

The IEC is expected to provide a full assessment of the registration weekend at a media briefing on Monday. – SAnews.gov.za

Janine

0

Posted on

PIC refers Acupulco matter to SIU

Source: Government of South Africa

PIC refers Acupulco matter to SIU

The Public Investment Corporation (PIC) has announced that board Chairperson, Deputy Minister of Finance Dr David Masondo, will refer the Acupulco investment transaction matter to the Special Investigating Unit (SIU).

This follows a legal review following of the findings of a PwC forensic investigation into the transaction.

The PIC had provided funding to the company to acquire a stake in the Lanseria Airport.

“After receiving legal advice on 20 June 2026 regarding the implications of the PwC findings, the chairperson concluded that the matter should be referred to the SIU for further investigation and any action within its statutory mandate. This decision reflects new information uncovered through the PwC investigation and subsequent legal assessment.

“The chairperson has consistently maintained that any effort to recover funds on behalf of the PIC must be guided by sound legal advice and the best interests of PIC clients and pensioners,” a PIC statement read.

The PIC noted that previous legal opinions have “pointed to limited prospects of success and potential litigation risks”.

Conversely, the PwC has “produced new findings that warranted further legal consideration”.

“Based on that advice, the chairperson believes that referral to the SIU is the most appropriate course of action. This step aligns with the chairperson’s commitment to accountability, consequence management and the recovery of public funds where legally justified.

“The referral will allow the PIC to remain focused on its core mandate of safeguarding and growing the savings entrusted to it by millions of South African workers and pensioners, while accountability is pursued through the appropriate channels,” the statement said.

Meanwhile, the state-owned entity will continue with its investigation into a Whistleblower Report.

“This process will proceed independently of the referral of the Acupulco matter to the SIU so as to allow the PIC to address the entirety of multiple matters contained in the Whistleblower Report.

“Should the whistleblower inquiry uncover information that falls within the mandate of any law enforcement, regulatory or other competent authority, the PIC will refer such matters accordingly,” the statement concluded. – SAnews.gov.za

 

NeoB

15

Posted on

La Société islamique d’assurance des investissements et des crédits à l’exportation (SIACE) contribue au projet du Stade olympique Akii-Bua en Ouganda grâce à une couverture d’assurance de 65 millions de dollars américains

Source: Africa Press Organisation – French

La Société islamique d’assurance des investissements et des crédits à l’exportation (SIACE) (http://ICIEC.IsDB.org), assureur multilatéral conforme à la Charia spécialisé dans l’assurance du crédit et des risques politiques et membre du Groupe de la Banque islamique de développement (BID), a apporté son soutien assurantiel à la construction du Stade olympique Akii-Bua en Ouganda.

L’intervention de la SIACE a été réalisée au moyen d’une Police pour Transaction Spécifique (Specific Transaction Policy – STP) accordée à SAMCO National Construction Company d’Égypte couvrant un crédit fournisseur. Le projet représente une valeur contractuelle totale d’environ 130 millions USD, dont 65 millions USD sont couverts par l’assurance de la SIACE, avec un niveau de couverture de 90 % contre le risque de non-respect d’une garantie émise par le ministère des Finances de la République d’Ouganda.

Le Stade olympique Akii-Bua s’inscrit dans les efforts déployés par l’Ouganda pour renforcer ses infrastructures sportives nationales et accroître sa capacité à accueillir des manifestations sportives régionales et internationales. Situé dans la ville de Lira, le projet devrait soutenir le développement de l’athlétisme chez les jeunes, encourager la participation communautaire aux activités sportives et promouvoir des modes de vie plus sains.

Pendant la phase de construction, le projet devrait générer des opportunités d’emploi et stimuler la demande de matériaux et de services locaux. À plus long terme, le stade devrait contribuer à dynamiser l’activité économique régionale en attirant des événements sportifs, le tourisme et les services commerciaux connexes, tout en soutenant le développement urbain de Lira et des zones environnantes.

Commentant cette transaction, Dr Khalid Khalafalla, Directeur général de la SIACE, a déclaré : «Ce projet illustre comment des solutions de gestion des risques bien structurées peuvent contribuer à la réalisation d’infrastructures sociales génératrices d’un impact durable sur le développement. En soutenant le Stade olympique Akii-Bua, la SIACE contribue à un projet qui servira les communautés, favorisera l’autonomisation des jeunes et créera de nouvelles opportunités d’activité économique dans le nord de l’Ouganda. ».

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

Contacts presse : 
E-mail: ICIEC-Communication@isdb.org

Suivez-nous sur : 
X: https://apo-opa.co/4fT31Ql
Facebook: https://apo-opa.co/44lzF5Z
LinkedIn: https://apo-opa.co/4uKJ9m7
YouTube: https://apo-opa.co/4a9rsFx
Instagram: https://apo-opa.co/4aGdF9C

À propos de la SIACE : 
En tant que membre du groupe de la Banque islamique de développement, bénéficiant d’excellentes notations financières, la Société islamique d’assurance des investissements et des crédits à l’exportation (SIACE) a commencé ses opérations en 1994 afin de renforcer les relations économiques entre les États membres de l’Organisation de la coopération islamique (OCI) et de promouvoir le commerce ainsi que les investissements intra-OCI, grâce à des instruments d’atténuation des risques et à des solutions financières conformes aux principes de la Charia. La Société est le seul assureur multilatéral islamique au monde. Elle a joué un rôle de premier plan en proposant une gamme complète de solutions aux entreprises et aux parties prenantes de ses 51 pays 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 du secteur de l’assurance-crédit et des risques politiques. Par ailleurs, S&P a confirmé la note « AA- » pour la troisième année consécutive, avec des perspectives stables. La résilience de la SIACE repose sur une souscription solide, un réseau mondial de réassurance et des politiques rigoureuses de gestion des risques. Au total, la SIACE a assuré plus de 138 milliards USD de transactions commerciales et d’investissements, couvrant des secteurs clés tels que l’énergie, l’industrie manufacturière, les infrastructures, la santé et l’agriculture.

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

Media files