Category: Africa

Source: APO

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org), a member of the Islamic Development Bank (IsDB) Group, is pleased to announce the signing of 13 significant financing and strategic cooperation agreements with various counterparts aimed at catalyzing economic development and bolstering private sector growth and initiatives across several member countries in diverse regions around the world. These agreements were signed during the 2026 Annual Meetings of the IsDB Group, held in Baku, Azerbaijan, under the theme “Regional Integration for Sustainable Prosperity”, which provided a platform for member countries to advance dialogue and cooperation on regional connectivity, resilience and inclusive growth. The signing of these agreements underscores ICD’s unwavering commitment to fostering prosperity through strategic partnerships and promoting access to finance and financial inclusion in its member countries.

In line with its mandate to support private sector growth in its member countries, the ICD and the Azerbaijan Business Development Fund (ABDF) signed a framework agreement to launch a managed Shariah-compliant line of financing program for SMEs during the opening ceremony of the IsDB Group 2026 Annual Meeting’s Private Sector Forum in Baku. Under this framework, the parties are to collaborate in deploying up to AZN 200 million within the next two years. The program introduces a local currency (AZN) financing channel by which, ICD, acting as ABDF’s agent, will blend ABDF’s AZN funds with ICD’s USD, EUR, and AZN resources to support SMEs and private sector growth in Azerbaijan. Through this initiative, the ICD, acting on its own behalf and on behalf of ABDF, will provide either single or multi-currency line of financing facilities to selected partner financial institutions in Azerbaijan for on-ward financing of eligible companies in the country. This arrangement is expected to help mitigate foreign exchange risk that has long hindered the growth of  Azerbaijani SMEs, especially those operating outside major cities in the country.

In a further attempt to explore bankable financing opportunities in Azerbaijan and facilitate the realization of its mandate of supporting private sector development in its member countries, the ICD also signed a Memorandum of Understanding (MoU) with the State Oil Company of the Azerbaijan Republic (SOCAR), establishing strategic cooperation between the two institutions to collaborate in financing  of infrastructure and energy projects in Azerbaijan and other member countries within existing public private partnership (PPP) frameworks. Under the Memorandum of Understanding, the parties will identify and evaluate financing opportunities for project companies established by SOCAR and its joint venture partners. Within this framework, ICD will provide financing solutions tailored to the specific requirements of the projects.

Further, the ICD signed a Mandate Letter with Azerconnect for a USD 20 Million financing facility for capex financing and an Expression of Intent Letter for a USD 15 Million Line of Financing Facility with Turan Bank for onward financing of SMEs and eligible companies in Azerbaijan.

In an effort to strengthen and deepen its operations in Nigeria, the ICD also signed a Mandate Letter with the Nigerian Export-Import Bank (NEXIM) for a USD 50 Million syndicated line of financing facility to be arranged by ICD to be used by NEXIM for financing eligible private sector entities in Nigeria.

In line with its mandate of promoting economic development in its member countries, the ICD also signed an Expression of Intent  Letter for a proposed EUR 50 million Line of Financing Facility with  Afriland Bank (Cameroon),  and a Final Term Sheet for Euro 20 Million line of finance facility with AFG Bank (Cameroon), each for the purpose of onward financing of SMEs and other eligible private sector companies in Cameroon. Under these facilities,  the ICD will be leading and supporting the arrangement and mobilization of resources and private capital to support the operations of these Cameroonian banks and thus contributing to fostering economic growth and prosperity in the country.

Consistent with its objective of having a diversified portfolio across its member countries, the ICD also signed a Murabaha Facility Agreement with Al Salam Bank of Bahrain (ASB) for a USD 50 million Line of Finance Facility for the purpose of  onward financing of eligible companies in Bahrain whose operations contribute or have the potential of contributing significantly to the  growth and development of SMEs and the private sector in general in Bahrain.

ICD has also signed a strategic Memorandum of Understanding  with DAMU Entrepreneurship Development Fund of Kazakhstan to establish framework for cooperation aimed at identifying and developing financing and guarantee opportunities for Lines of financing in Kazakhstan, with a focus on supporting SMEs and private‑sector entities.

To further its support to the growth of the private sector in Kazakhstan, the ICD also signed a strategic Memorandum of Understanding with KAZAGROFINANCE JSC of Kazakhstan (KAF) to establish a common ground for partnership between the parties and the Ministry of Agriculture of Kazakhstan to extend thematic agri-sector linked line of finance facilities  to KAF under the Ministry’s subsidy program to farmers in Kazakhstan.

Additionally, Leveraging on ICD’s recent and first successful credit enhancement transaction with the African Solidarity Fund (FSA) in Mauritania in partnership with Banque Mauritanienne de l’Investissement (BMI),  the ICD signed a strategic Expression of Intent Letter with FSA as a demonstration of their intent to upscale their partnership in the use of FSA’s guarantees as credit enhancement for ICD’s line of financing operations in selected common member countries of the Parties.

Finally, the ICD also signed a Strategic MOU with the Texel Group of UK to establish a platform of cooperation on credit portfolio enhancement through insurance. Through this MOU the parties are aiming to combine ICD’s origination and development financing capabilities with Texel Group’s structuring and placement expertise in the use of Non Payment Insurance to enhance risk management, optimize capital allocation, and mobilize additional financing into priority sectors, while enabling ICD to upscale its financing activities and efficiently manage portfolio concentration and credit exposure in its member countries.

All these signed agreements represent a major step forward in ICD’s efforts to promote sustainable economic growth and financial inclusion across its member countries. By strengthening partnerships with key financial institutions and development partners, ICD continues to play a vital role in supporting private sector growth and development in its member countries.

Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

About the Islamic Corporation for the Development of the Private Sector (ICD):
The Islamic Corporation for the Development of the Private Sector is a multilateral development financial institution and a member of the Islamic Development Bank Group. Established in November 1999, ICD supports economic development in its member countries by promoting the establishment, expansion and modernization of private enterprises, through financing and cross boarder investments in private sector enterprises and projects. ICD is rated A+ by Fitch, A2 by Moody’s, and A- by S&P.

For more information, visit www.ICD-PS.org.

Source: APO

.

Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates Mr. Nasser Bourita received on Wednesday in Rabat Crispin Mbadu Phanzu, Deputy Minister attached to the Minister of State and Minister of Foreign Affairs of the Democratic Republic of the Congo, responsible for Francophonie and Congolese living abroad, who delivered a message to His Majesty King Mohammed VI from President Félix-Antoine Tshisekedi Tshilombo.

Speaking to the press following the meeting, Mbadu Phanzu praised the excellent bilateral cooperation relations between Morocco and the DRC, two countries linked by a long-standing history of friendship and partnership, noting that his visit to the Kingdom is also aimed at promoting his country’s candidacy for the post of Secretary-General of the International Organisation of La Francophonie (OIF ).

For her part, Juliana Amato Lumumba, the DRC’s candidate for Secretary-General of the OIF and a member of the visiting delegation, highlighted the strength of the bonds of solidarity and friendship between the two countries.

She recalled that her father, Patrice Émery Lumumba, had been decorated by the late His Majesty Mohammed V.

Lumumba also commended the convergence of views between Morocco and the DRC on issues related to solidarity, unity, inclusiveness and sovereignty, calling for “a Francophonie of the people, with the people and for the people.”

Distributed by APO Group on behalf of Kingdom of Morocco – Ministry of Foreign Affairs, African Cooperation and Moroccan Expatriates.

Source: APO

.

African Mining Week 2026 – The Most Influential Mining Conference in Africa – will connect Zimbabwean regulators and mining stakeholders with global investors to advance partnerships, as the country accelerates efforts to build a $12 billion mining industry by 2030.

Taking place from October 14 – 16 in Cape Town, AMW 2026 will feature a dedicated Zimbabwe Country Spotlight, showcasing lucrative opportunities across the country’s mining value chain. The country spotlight will feature high-level panel discussions, exclusive networking sessions and project showcases, connecting global investors and service providers with senior decision-makers from the Ministry of Mines and Mining Development of Zimbabwe, the Chamber of Mines of Zimbabwe and leading mining companies operating across the country.

The spotlight comes at a pivotal moment for Zimbabwe, as the country seeks fresh capital to unlock value from more than 60 known mineral occurrences spanning gold, lithium, platinum group metals, chrome, coal and rare earths.

https://apo-opa.co/43Z71HR

In a major move to improve investment competitiveness, Zimbabwe reduced mining-related license and permit fees in May 2026, lowering operational costs for investors while streamlining market participation. Registration fees for dealing in precious stones have been reduced from $15,000 to $10,000, while export permit fees have been cut from $1,875 to $500. New licensing categories – including permits for gold jewellery manufacturing and lithium processing plants – have also been introduced as part of a broader strategy to promote investments across in-country value addition projects. The reduction in fees for beneficiation projects follows the April 2026 introduction of export quotas for lithium concentrates ahead of a planned 2027 ban on concentrate exports. The shift is already reshaping the country’s lithium industry, with Zhejiang Huayou Cobalt achieving Zimbabwe’s first export shipment of lithium sulphate salts in April 2026.

https://apo-opa.co/4w3X7R3

https://apo-opa.co/4uTlYpG

https://apo-opa.co/44ziVZ3

Coming into this picture, AMW 2026’s Zimbabwe Country Spotlight will provide investors with direct insights into these evolving regulatory frameworks, highlighting emerging investment and partnership prospects in lithium processing and across the mining value chain.

Zimbabwe’s gold sector is also positioned for renewed growth amid sustained high global gold prices (averaging $5,000 per ounce). In line with this momentum, Zimbabwe’s sovereign wealth fund, Mutapa Investment Fund, is seeking $250 million to expand gold mining operations. Against this backdrop, AMW 2026 offers a timely platform for investors to engage with one of Africa’s most prospective brownfield gold markets and explore opportunities across exploration, mine expansion and processing infrastructure.

https://apo-opa.co/4eCDMiU

AMW 2026’s strong emphasis on artisanal and small-scale mining (ASM) formalization also aligns closely with Zimbabwe’s national mining development strategy. In May 2026, Zimbabwe certified 300 small-scale miners following completion of training programs safety, compliance and productivity. Supported by funding from Mutapa Gold Resources – a subsidiary of Mutapa Investment Fund – the initiative aims to train and formalize 1,500 ASM players.

https://apo-opa.co/44rhsUH

As the official platform where Africa’s mining opportunities are discussed and maximized, AMW 2026 will provide stakeholders with market intelligence on Zimbabwe’s evolving mining landscape and investment outlook.

Distributed by APO Group on behalf of Energy Capital & Power.

Source: APO

.

The Deputy Special Representative of the Secretary-General for West Africa and the Sahel, Barrie Freeman, concluded today her visit to Banjul, The Gambia, where she participated in a two-day high-level workshop on “Strengthening Security and Stabilization in Sahel and West Africa: Bridging Good Governance, Regional Cooperation, and Multilateral Responses.”

During the workshop, Ms. Freeman contributed to a panel discussion on “Regional and multilateral responses- Strategies and coordination, including follow-up actions,” alongside senior representatives from regional and international organizations. The discussion emphasized the urgent need for greater coherence, coordination, and sustained follow-up among existing initiatives addressing the complex security and governance challenges in West Africa and the Sahel.

Ms. Freeman commended the African Union Mission for Mali and the Sahel (MISAHEL) and its partners for convening this workshop, noting that the region faces a complex mix of democratic progress, persistent vulnerabilities, and worsening insecurity. She stressed the need for a comprehensive approach addressing root causes such as weak governance and socio-economic exclusion, underscored trust, and preventive diplomacy as essential for effective cooperation and reaffirmed United Nations support to regional partners including the Economic Community of West African States (ECOWAS).

On the margins of the workshop, Ms. Freeman was received in audience by His Excellency Adama Barrow, President of The Gambia, with whom she discussed national and regional developments. She commended The Gambia’s role within the ECOWAS and the African Union (AU) in promoting dialogue and peaceful conflict resolution and praised President Barrow’s commitment to democratic governance and regional cooperation.

Ms. Freeman reaffirmed the United Nations’ continued support through UNOWAS and the UN country team, underscoring a shared commitment to advancing peace, governance, and sustainable development, and to strengthening coordinated responses to challenges across West Africa and the Sahel.

Distributed by APO Group on behalf of United Nations Office for West Africa and the Sahel (UNOWAS).