Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) Board of Governors Approves 2025 Annual Report, Reflecting Strong Business Growth and Financial Resilience

Source: APO – Report:

.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (https://ICIEC.IsDB.org), a Shariah-based multilateral credit and political risk insurer and member of the Islamic Development Bank Group, announced the approval of its 2025 Annual Report and Audited Financial Statements by the Board of Governors on the sidelines of the IsDB Group 2026 Annual Meetings held in Baku, Azerbaijan, from 16 to 19 June 2026.

The 2025 Annual Report, themed “Driving Sustainable Development and Powering Growth,” highlights a strong year for ICIEC, with Business Insured reaching USD 17.8 billion, a 37.8% increase compared with 2024. This brings cumulative business insured since inception to USD 138.9 billion, comprising USD 107.8 billion in trade and USD 31.1 billion in investment. ICIEC also recorded USD 7.3 billion in new insurance commitments and closed the year with gross exposure of USD 7.6 billion.

In 2025, ICIEC further strengthened its membership with the accession of the Republic of Sierra Leone as its 51st Member State. The Corporation also continued to support intra-OIC trade and investment, insuring USD 7.72 billion in intra-OIC trade and USD 1.57 billion in intra-OIC investments during the year.

ICIEC’s financial performance remained strong, with corporate net results reaching USD 40.4 million, a 62.5% improvement over 2024. The Policyholders’ Fund also recorded a major turnaround, converting its accumulated deficit into an accumulated surplus of USD 5.9 million by year-end 2025.

ICIEC maintained its strong credit standing, with Moody’s maintaining its Aa3 Insurance Financial Strength Rating and S&P reaffirming its AA- long-term issuer credit and financial strength rating with a stable outlook.

The year 2025 also marked a key strategic transition for ICIEC, with the conclusion of its 2016–2025 Strategic Framework and the preparation of its new 2026–2030 Corporate Strategy, aligned with the IsDB Group’s 10-Year Strategic Framework 2026–2035.

Commenting on the report, Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, said, “2025 was a year of strong operational and financial performance for ICIEC, delivered against a challenging global backdrop. Insuring USD 17.8 billion in business and achieving a significant improvement in financial results reflect the strength of our mandate and the continued relevance of Shariah-compliant risk mitigation solutions. As we move forward, ICIEC remains committed to de-risking trade and investment, mobilising capital, and supporting sustainable development across our Member States.”

– on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

Contact:
Email: ICIEC-Communication@isdb.org

Follow us on:
X: https://apo-opa.co/4oBTfUZ
Facebook: https://apo-opa.co/4gvYzal
LinkedIn: https://apo-opa.co/4efyrPG
YouTube: https://apo-opa.co/3SiGmDl
Instagram: https://apo-opa.co/4oBTjEn

About ICIEC:
As a member of the rated Islamic Development Bank (IsDB) Group, ICIEC commenced operations in 1994 to strengthen economic relations between OIC Member States and promote intra-OIC trade and investments by providing risk mitigation tools and Shariah-compliant financial solutions. The Corporation is the only Islamic multilateral insurer in the world. ICIEC has led in delivering a comprehensive suite of solutions to companies and stakeholders across its 51 Member States. For the 18th consecutive year, ICIEC maintained an “Aa3” insurance financial strength credit rating from Moody’s, ranking the Corporation among the top tier of the Credit and Political Risk Insurance (CPRI) industry. Additionally, S&P has reaffirmed ICIEC’s “AA-” long-term Issuer Credit and Financial Strength Rating for the third consecutive year, with a Stable Outlook. ICIEC’s resilience is underpinned by its sound underwriting practices, a robust global reinsurance network, and strong risk management policies. Cumulatively, ICIEC has insured more than USD 138 billion in trade and investment. ICIEC’s activities span several key sectors, including energy, manufacturing, infrastructure, healthcare, and agriculture.

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

Value addition a key cog in economic growth, job creation

Source: Government of South Africa

Value addition a key cog in economic growth, job creation

There is no meaningful economic growth or significant job creation that can be achieved without a value-adding industrialisation pathway, Acting Chief Director for Innovation and Technology at the Department of Trade, Industry and Competition (dtic), Nontombi Maseko said.

Speaking at a  panel discussion on “Innovation as a driver of Industrialisation” at a Policy Dialogue on Industrialisation Through Innovation,  Maseko said innovation is a central lever to re-industrialisation by improving productivity, supporting diversification, and enabling participation in high-value global markets.

“Furthermore, it raises productivity, deepens skills and strengthens export competitiveness and must be supported from idea to market entry and scale,” she said on Thursday.

Maseko added that the department plays a catalytic role through incentives, procurement, and sectoral interventions. The dtic and the Department of Science, Technology and Innovation she said, co-developed the National Technology Commercialisation Strategy to accelerate the commercialisation of locally developed technologies for domestic and international markets.

“The industrialisation imperative is clear, if South Africa does not build local manufacturing capability for components such as electrolysers and fuel cells, the green hydrogen economy will generate export revenue without generating industrial jobs or building domestic capability.”

In addition, Maseko added that the dtic  does not regard innovation as a separate policy domain.

“Instead, innovation is embedded across every instrument we deploy. Procurement designations create markets, incentives support investment, Special Economic Zones provide the necessary infrastructure and space, while programmes such as the Support Programme for Industrial Innovation (SPII) and The Technology and Human Resources for Industry Programme (THRIP) fund technology development and sector Master plans help to coordinate the social compact required to drive industrialisation.

“Over the past five years, R49 million and R157 million was disbursed for SPII and THRIP respectively. Together, these interventions ensure that innovation remains at the centre of South Africa’s industrial development agenda.

“Localisation strengthens capability, capability fuels innovation, and innovation drives industrialisation,” explained Maseko.

The dialogue which got underway on Thursday, is hosted by the National Advisory Council on Innovation (NACI), in partnership with the Department of Science, Technology and Innovation and the Department of Trade, Industry and Competition (the dtic) and the OR Tambo Special Economic Zone.

READ | Dialogue to place innovation under the spotlight

Held  at the Radisson Hotel and Convention Centre, OR Tambo Airport in Johannesburg, the gathering is set to conclude on Friday, 19 June. – SAnews.gov.za

Neo

5

Youth urged to register to vote this weekend

Source: Government of South Africa

Youth urged to register to vote this weekend

As South Africa marks Youth Month, the Electoral Commission is making a direct appeal to young people to register to vote ahead of the 2026 Local Government Elections.

The call comes as the IEC declared itself fully prepared for the nationwide voter registration weekend taking place on Saturday and Sunday, with all 23 706 voting stations set to open from 8am to 5pm.

The registration drive is particularly significant for first-time voters, many of whom will have their first opportunity to participate in a Local Government Election.

According to the IEC, young South Africans remain one of the most underrepresented groups on the voters’ roll despite targeted efforts to increase youth participation.

“Given that youth in the age category 18-19 years have not had multiple opportunities to enlist on the voters’ roll and since they have just become age eligible, over 70% in this age cohort are still to register,” the Commission said.

The Commission’s Tertiary Institutions Campaign has already reached more than 269 000 students nationwide, resulting in over 158 000 new registrations. 

Building on that success, the Commission plans to expand its outreach to universities and colleges in the coming months.

Youth participation has also been a key feature of the Commission’s broader voter education campaign. 

Partnerships with the SABC have seen voter education integrated into popular programmes such as Skeem Saam, while youth-focused productions including Beats for My Peeps are being used to encourage democratic participation.

The Commission said registering to vote was particularly important because voters can only cast ballots in the voting district where they are registered. Unlike national and provincial elections, there is no provision for voting outside one’s registered voting district.

The registration weekend will also provide an opportunity for existing voters to update their addresses and personal details to ensure they are assigned to the correct ward.

The voters’ roll currently stands at approximately 28 million registered voters, an increase from the 27.7 million voters registered for the 2024 general elections.

Beyond voter participation, the registration process is also creating opportunities for young South Africans. Of the 48 212 registration staff appointed for the weekend, nearly half are under the age of 35, while more than 34 000 are unemployed but qualified individuals gaining temporary employment and valuable experience.

The IEC has urged all eligible South Africans, especially young people and first-time voters, to use the weekend to register, verify their details or update their information.

To register, citizens need a South African ID card, green barcoded ID book or a valid Temporary Identity Certificate. – SAnews.gov.za

Janine

7

Impact Africa Consulting Limited appointed as an International Sustainability Standards Board (ISSB) Training Partner to deliver official sustainability disclosure training

Source: APO

Impact Africa Consulting Limited’s (www.ImpactingAfrica.com)​ appointment as an ISSB Training Partner enables the company to deliver official ISSB Disclosure Training using IFRS Foundation-developed content. The training will support professionals, companies and institutions to build practical capability in applying IFRS Sustainability Disclosure Standards and preparing high-quality sustainability disclosures for investors, capital markets and other stakeholders.

Impact Africa Consulting Limited has been appointed as an official training partner to the IFRS Foundation, enabling the company to deliver official ISSB Disclosure Training to professionals and organisations seeking to strengthen their sustainability disclosure capability.

The appointment positions Impact Africa Consulting Limited to support corporate preparers, sustainability professionals, finance teams, risk managers, board members, consultants, assurance professionals and learners with practical training on the application of IFRS Sustainability Disclosure Standards. The training is designed to build confidence in understanding disclosure requirements, applying them in practice and improving the quality and consistency of sustainability-related financial disclosures.

Speaking on the appointment, Dr. Edward Mungai, Lead Consultant and Partner at Impact Africa Consulting Limited, said the accreditation marks an important milestone in the company’s commitment to strengthening sustainability practice in Africa.

“We are pleased to have been appointed as an ISSB Training Partner. This comes at a time when organisations across Africa are under growing pressure to improve the quality, consistency and credibility of sustainability disclosures. Through this training, we will support professionals and institutions to better understand the IFRS Sustainability Disclosure Standards and apply them in ways that strengthen governance, reporting and engagement with investors and other stakeholders.”

ISSB Disclosure Training introduces corporate preparers and learners to the concepts and skills needed to navigate the sustainability disclosure landscape. The course is practical and application-focused, using IFRS Foundation-developed materials to provide consistent learning experience. Participants who successfully complete the training will receive a co-branded IFRS Foundation certificate.

The training will be delivered through in-person, live online and on-demand formats, allowing professionals and organisations to select options that suit their learning needs and schedules. It will also provide a strong foundation for participants who may wish to progress to the IFRS Foundation’s FSA Level I.

Solomon Irungu, Communication and External Relations Lead at Impact Africa Consulting Limited, said the appointment strengthens the company’s ability to support clients and partners in responding to the changing sustainability reporting landscape.

“This appointment expands our capacity to support organisations that are seeking to align with global sustainability disclosure expectations. It also strengthens our external engagement work by allowing us to provide structured, credible and practical training to professionals and institutions that are preparing for sustainability-related financial reporting.”

Participants who successfully complete the training will receive a co-branded certificate from the IFRS Foundation and Impact Africa Consulting Limited. They will also be well positioned to progress to the IFRS Foundation’s FSA® Level I Credential for further development in sustainability-informed financial analysis. 

The appointment builds on Impact Africa Consulting Limited’s work in sustainability advisory, impact assessment and reporting, resource mobilization, training and capacity building. It also reinforces the company’s role in supporting businesses, development organisations and public institutions to adopt stronger sustainability practices and improve decision-making through credible data, reporting and disclosure.

Impact Africa Consulting Limited will announce training dates and registration details through its official website www.ImpactingAfrica.com as well as LinkedIn channels. Interested professionals and organisations may contact the company through contact@impactingafrica.com to register interest or request tailored institutional training.

Impact Africa Consulting Limited is a multidisciplinary development advisory firm operating at the intersection of Climate and Sustainability Advisory, Private Sector Development, Impact Measurement, and Organizational Capacity Strengthening.

Distributed by APO Group on behalf of Impact Africa Consulting Limited.

For media inquiries, contact:
Impact Africa Consulting Limited
Email: lisa.matata@impactingafrica.com
Website: www.ImpactingAfrica.com

Media files

.

Mashatile urges constitutional response to illegal migration concerns

Source: Government of South Africa

Mashatile urges constitutional response to illegal migration concerns

Deputy President Paul Mashatile has called on South Africans to raise concerns about illegal migration through lawful and constitutional channels, while rejecting vigilantism and unlawful enforcement.

Mashatile was responding to a question in the National Council of Provinces (NCOP) on Thursday about protests calling on government to act against illegal migration.

He said government was implementing a Comprehensive Approach on Migration Management to strengthen border security, enforce immigration laws, tackle corruption and close policy loopholes.

“The plan is anchored on five pillars, namely, cracking down on violations of immigration and labour laws, preventing illegal entry into the country, stamping out corruption in the immigration system, strengthening immigration laws and policies, and working with other countries to address migration challenges across the region and continent,” Mashatile said on Thursday.

Mashatile said President Cyril Ramaphosa had also established an Inter-Ministerial Committee on Migration, led by the Minister of Justice and Constitutional Development.

The committee is coordinating government’s response to migration and overseeing the implementation of interventions announced by the President in his address to the nation earlier this month.

“Furthermore, the Minister of Employment and Labour has introduced the Employment Services Amendment Bill in Parliament. This Bill will empower the Minister to set quotas in respect of the employment of foreign nationals in any economic sector or occupational category.

“Through the Justice, Crime Prevention and Security Cluster (JCPS), intelligence-led measures are being implemented to prevent xenophobic violence and unlawful parallel enforcement,” Mashatile said.

On corruption in the South African Police Service (SAPS), Mashatile said the Justice, Crime Prevention and Security (JCPS) Cluster was implementing corrective measures to root out corruption in the service.

He said the Directorate for Priority Crime Investigation (DPCI) was strengthening its Serious Corruption Investigation Units to deal with complex cases, including public sector procurement fraud and state capture-related crimes.

The units are working with agencies such as the National Prosecuting Authority (NPA) through prosecution-guided investigations to align investigations with prosecutorial requirements and improve outcomes.

“Dedicated teams continue to investigate SAPS officials who have been implicated in the Madlanga Commission, with a specialised task team handling disciplinary cases.

“Senior managers within the SAPS are now undergoing vetting by the State Security Agency (SSA) to reinforce integrity, while internal audits, ethics programmes, and oversight committees ensure accountability.

“Through these measures, corruption cases within the SAPS are pursued transparently, reinforcing integrity and safeguarding the criminal justice system,” the Deputy President said. –SAnews.gov.za

nosihle

0

Deputy President travels to China on a Working Visit

Source: Government of South Africa

Deputy President travels to China on a Working Visit

Deputy President Paul Mashatile will this weekend undertake a Working Visit to the People’s Republic of China to participate in the 4th China International Supply Chain Expo (CISCE) in Beijing, as well as other economic diplomacy engagements.

CISCE is the world’s first national-level expo dedicated to global supply chains, hosted under the auspices of the Chinese Government and organised by the CCPIT.

The visit follows an invitation extended by the Chairman of the China Council for the Promotion of International Trade (CCPIT), Ren Hongbin. 

The Working Visit from 20 to 26 June 2026 will further strengthen South Africa-China relations, with a particular focus on political cooperation, industrial investment, trade facilitation and economic collaboration.

Building on the successful outcomes of the 9th South Africa-China Bi-National Commission (BNC) held in Cape Town in March 2026, and co-chaired by Deputy President Mashatile and Vice President Han Zheng of the People’s Republic of China, the visit seeks to further advance cooperation between the two countries in areas of mutual interest.

The Deputy President will also undertake high-level engagements with selected Chinese investors in Shenzhen, Guangdong Province, reflecting the depth and breadth of South Africa’s economic partnership with China.

The Deputy President will be accompanied by the Deputy Minister of Trade, Industry and Competition, Zuko Godlimpi, as well as senior government officials. –SAnews.gov.za

 

nosihle

0

MoU to enhance South Africa’s power grid

Source: Government of South Africa

MoU to enhance South Africa’s power grid

A memorandum of understanding (MoU) to establish a two-year, peer-to-peer technical cooperation programme has been signed by Eskom, RTE International, the Agence française de développement (AFD) and the National Transmission Company South Africa (NTCSA).

Signed on the sidelines of the Africa Energy Forum in Cape Town, the initiative is supported through a EUR 650 000 (ZAR 12 million) grant from AFD, financed by the French National Treasury.

AFD helps advance France’s policy on sustainable investment and international solidarity.

In a joint media statement on Wednesday, the parties said South Africa’s electricity supply industry is undergoing significant reform and it is anticipated that the transmission grid will be facing new challenges due to the integration of higher shares of renewable energy sources (wind, solar, etc.) and new load flow patterns.

Strengthening the grid’s resilience, flexibility, and capacity has become a key objective to enable the country’s energy transition. Within the framework of the Just Energy Transition partnership (JETP), supporting the development of the South African transmission grid is a priority for the French government.

“This partnership marks an important step in strengthening South Africa’s transmission capability as the electricity sector evolves. This collaboration affords Eskom and the NTCSA the opportunity to benefit from international technical expertise and shared learning that will help build a more resilient and modern grid. We welcome AFD’s support and RTE international’s partnership in advancing the skills, systems and innovation needed to support Eskom’s and the country’s transition path and long-term security of supply,” Eskom’s Chief Financial Officer, Calib Cassim said.

The National Transmission Company South Africa (NTCSA): is the credible and enabling backbone of South Africa’s evolving power system.

The cooperation between French and South African electricity transmission operators will promote the transfer of know-how and technical cooperation.

RTE International and the NTCSA will mobilise their respective experts to collaborate through a series of workshops, study tours in France and South Africa, and in-depth research projects and pilot initiatives. Renewable energy integration and system stability, artificial intelligence, machine learning and advanced analytics, high voltage direct current power transmission and telecommunications will form part of the research topics.

“The security and reliability of the transmission grid is non-negotiable. This agreement enables a focused exchange of expertise between the NTCSA and RTE international, allowing us to share practical experience and strengthen our capabilities as we modernise our systems, expand the grid and integrate renewable energy. It is through partnerships like these that we build more resilient, future-ready power networks and ensure long-term security of supply,” said the NTCSA’s Chief Executive Officer, Monde Bala.

RTE international is a leading European consulting and engineering firm specialising in power systems and essential infrastructure.

The cooperation will follow a phased implementation approach, tailored to the NTCSA’s specific needs and designed to promote strong ownership by the NTCSA teams throughout the process.

AFD expressed pride at supporting the cooperation between the biggest transmission network operators in Africa and in Europe.

“Both are facing interesting challenges given the evolution of the electricity mix in their respective countries. This is an opportunity to share best practices and to develop tailored interventions that will enhance the capability of each operator. This cooperation is a key component of the JETP, reflecting France’s strong commitment to supporting South Africa’s energy transition,” said Nicolas Willemin, AFD’s Deputy Regional Director for Southern Africa.

Willemin said the signing of the MoU represents an important step for RTE international as it builds on a long-standing relationship with AFD and on the expertise it s as a subsidiary of RTE, one of Europe’s largest transmission system operators.

“At a time when South Africa is undertaking significant reforms of its electricity sector, we believe that technical cooperation and the exchange of operational experience between system operators can play a valuable role in supporting the development of a more resilient, efficient and sustainable power system,” said Veronika Milewski, CEO of RTE international. – SAnews.gov.za 
 

Neo

2

Home Affairs offices open nationwide this weekend to support voter registration

Source: Government of South Africa

Home Affairs offices open nationwide this weekend to support voter registration

The Department of Home Affairs will extend office hours across the country this weekend in support of the Electoral Commission of South Africa’s Voter Registration Weekend. 

Citizens are encouraged to visit their nearest Home Affairs office to apply for a Smart ID Card or collect a Smart ID Card that is ready for collection. All Home Affairs offices will be open nationwide on Saturday and Sunday.

“This weekend presents an important opportunity for South Africans to ensure that they are ready to exercise one of their most fundamental democratic rights. By extending operating hours nationwide during Voter Registration Weekend, Home Affairs is making it easier for citizens to obtain the Smart ID Cards they need to register and participate in our democracy,” Minister of Home Affairs Dr Leon Schreiber said on Friday.

More than 370 000 Smart ID Cards are currently awaiting collection at Home Affairs offices nationwide.

“We encourage all South Africans who still need a Smart ID Card, or who have been notified that their Smart ID Card is ready for collection, to make use of this opportunity. An ID is not only essential for participating in our democracy, but also serves as a gateway to opportunities, services and economic participation,” the Minister said.

The extended operating hours form part of the department’s ongoing efforts to improve access to services and ensure that all eligible South Africans have the identity documents they need to exercise their democratic rights.

The department has encouraged citizens to visit their nearest Home Affairs office this weekend and avoid waiting until the last minute to obtain or collect their Smart ID Cards. –SAnews.gov.za

nosihle

0

Government of Eritrea Disbursed Over 6.2 Billion Nakfa to Families of Martyrs

Source: APO – Report:

.

The Ministry of Labor and Social Welfare announced that, from 2004 to 2025, the Government of Eritrea disbursed over 6.2 billion Nakfa in support of families of martyrs.

Noting that the Government of Eritrea began extending support to families of martyrs in 1995, Mr. Zerai Tekleab, Director of Families of Martyrs’ Welfare at the Ministry, said that initially 10 thousand Nakfa was distributed to families of martyrs for each martyr.

Mr. Zerai went on to say that following the issuance of Proclamation No. 137/2003, aimed at sustainably extending support to families of martyrs, 500 Nakfa has been distributed monthly to families of martyrs for each martyr since January 2004.

Mr. Zerai also said that, as part of efforts to enable families of martyrs to become self-supportive, over 27 million Nakfa has been invested in rehabilitating families of martyrs through livestock and small-scale trade activities.

Regarding the contribution of nationals inside the country and abroad, Mr. Zerai said that every national in the Diaspora has taken the initiative to contribute 720 US dollars over two years, while others have assumed the responsibility of permanently supporting individual families of martyrs.

Mr. Zerai indicated that over the past 22 years, nationals inside the country and abroad have contributed over 202 million Nakfa, benefiting 24 thousand 545 families of martyrs.

Noting that nationals inside the country, including students, Government and PFDJ workers, as well as associations, are making valuable contributions in support of families of martyrs, Mr. Zerai called on every citizen to follow the noble initiative.

– on behalf of Ministry of Information, Eritrea.

Deputy President Mashatile to undertake a Working Visit to the People’s Republic of China

Source: President of South Africa –

His Excellency, the Deputy President of the Republic of South Africa, Mr Shipokosa Paulus Mashatile, will undertake a Working Visit to the People’s Republic of China from 20 to 26 June 2026.

The visit follows an invitation extended by the Chairman of the China Council for the Promotion of International Trade (CCPIT), Mr Ren Hongbin, for the Deputy President to participate in the 4th China International Supply Chain Expo (CISCE) in Beijing, as well as other economic diplomacy engagements.

CISCE is the world’s first national-level expo dedicated to global supply chains, hosted under the auspices of the Chinese Government and organised by the CCPIT.

This will be the Deputy President’s second participation in the Expo, following his attendance at the 3rd CISCE in July 2025.

The Working Visit will further strengthen South Africa-China relations, with a particular focus on political cooperation, industrial investment, trade facilitation and economic collaboration.

Building on the successful outcomes of the 9th South Africa-China Bi-National Commission (BNC) held in Cape Town in March 2026, and co-chaired by Deputy President Mashatile and Vice President Han Zheng of the People’s Republic of China, the visit seeks to further advance cooperation between the two countries in areas of mutual interest.

The Deputy President will also undertake high-level engagements with selected Chinese investors in Shenzhen, Guangdong Province, reflecting the depth and breadth of South Africa’s economic partnership with China.

The Deputy President will be accompanied by the Deputy Minister of Trade, Industry and Competition, Mr Zuko Godlimpi, as well as senior government officials. 

Media enquiries: Mr Keith Khoza, Acting Spokesperson to Deputy President Mashatile on 066 195 8840

Issued by: The Presidency
Pretoria