La Côte d’Ivoire et Chambre africaine de l’énergie (AEC) font avancer les discussions sur le développement de l’amont, les campagnes de forage et les progrès de la Banque africaine de l’énergie

Source: Africa Press Organisation – French

La Chambre africaine de l’énergie (AEC) (https://EnergyChamber.org/) a tenu mardi à Abidjan des discussions de haut niveau avec Mamadou Sangafowa Coulibaly, ministre des Mines, du Pétrole et de l’Énergie, axées sur l’accélération du développement en amont, l’augmentation des flux d’investissement et le renforcement des cadres institutionnels soutenant la croissance énergétique à long terme du pays.

Cette réunion s’est tenue alors que la Côte d’Ivoire continue de consolider sa position parmi les marchés en amont les plus dynamiques d’Afrique de l’Ouest, grâce à une production en hausse, à des campagnes de forage intensives et à un regain d’intérêt international pour l’exploration des zones offshore.

L’un des principaux thèmes abordés a été la performance des principaux projets d’amont de la Côte d’Ivoire, l’accent étant mis sur les solides résultats opérationnels déjà obtenus par les principaux opérateurs internationaux et sur la dynamique positive qui se maintient dans l’ensemble du bassin. Le projet Baleine d’Eni, développé en partenariat avec Petroci et Vitol, reste au cœur de la trajectoire de croissance de la production ivoirienne, sa troisième phase de développement devant permettre d’augmenter considérablement la production pour la porter à environ 150 000 barils par jour. Le projet continue également d’apporter du gaz associé à la production d’électricité nationale, renforçant ainsi son importance stratégique pour la sécurité énergétique du pays.

La réunion a également fait le point sur les activités de forage en cours et à venir sur les actifs en production. Les opérations de VAALCO Energy dans le bloc offshore CI-40, en partenariat avec CNR International, préparent une nouvelle campagne de forage à la suite de modernisations prévues des champs, avec des augmentations de production attendues à partir de 2026 dans le cadre d’une stratégie de redéveloppement plus large axée sur le forage d’intercalage et l’optimisation des actifs.

La dynamique d’exploration dans le bassin offshore de la Côte d’Ivoire a également été mise en avant, notamment la campagne de forage de plusieurs puits prévue par Murphy Oil, ciblant des prospects tels que Civette, Caracal et Bubale au cours de la période 2025–2026. La réunion a également souligné le regain d’intérêt international pour le secteur en amont du pays, soutenu par son environnement d’investissement favorable, notamment l’arrivée récente de Petrobras suite à l’attribution de plusieurs blocs d’exploration offshore.

Les évolutions institutionnelles et financières ont également constitué un point clé des discussions, en particulier les réformes au sein de l’Organisation des producteurs africains de pétrole et les progrès vers la création de la Banque africaine de l’énergie. Le ministre a assuré que les efforts visant à rendre la banque opérationnelle progressaient, les travaux se poursuivant pour garantir qu’elle devienne pleinement fonctionnelle et capable de susciter une plus grande participation des acteurs des secteurs public et privé. Cette initiative a été présentée comme un mécanisme prioritaire visant à élargir l’accès au capital pour les projets énergétiques africains et à renforcer le développement à long terme du secteur amont à travers le continent.

« Ce que nous observons en Côte d’Ivoire n’est pas une progression graduelle, mais une nette accélération de la dynamique en amont. Avec l’avancement de grands projets, l’arrivée de nouvelles explorations sur le marché et la mise en place de cadres de financement, le pays se positionne comme l’une des destinations les plus attractives d’Afrique en matière d’investissements énergétiques », a déclaré NJ Ayuk, président exécutif de l’AEC.

La Chambre a également tenu des discussions avec Africa Global Logistics (AGL), dont les dirigeants ont mis en avant le rôle croissant de l’entreprise en tant que partenaire clé en matière de logistique et d’infrastructures, soutenant le secteur pétrolier et gazier ivoirien. AGL s’est de plus en plus positionnée comme un acteur central de l’activité en amont, fournissant un soutien logistique, de transport et opérationnel à de grandes sociétés d’exploration, notamment Eni, Murphy Oil et CNR International. L’entreprise investit également dans de nouvelles infrastructures logistiques dans le pays, renforçant ainsi l’émergence de la Côte d’Ivoire en tant que pôle régional pour les services de la chaîne d’approvisionnement énergétique, tout en améliorant l’efficacité et la compétitivité en termes de coûts pour les opérateurs de l’ensemble du secteur.

D’autres rencontres ont eu lieu avec GES-Petrogaz, une association locale de services pétroliers et gaziers, qui s’attache à renforcer la participation des prestataires de services nationaux dans la chaîne de valeur énergétique, à améliorer l’environnement favorable aux entreprises locales et à développer les opportunités de formation professionnelle et d’entrepreneuriat.

Des discussions ont également eu lieu avec la Société ivoirienne de raffinage (SIR), au cours desquelles ont été présentés les projets d’augmentation de la capacité de raffinage, ainsi que les efforts visant à renforcer la sécurité énergétique nationale et à soutenir la production de carburants à faible teneur en carbone, dans le cadre de la stratégie plus large de développement industriel de la Côte d’Ivoire.

Distribué par APO Group pour African Energy Chamber.

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A Costa do Marfim e a Câmara Africana de Energia (AEC) avançam nas discussões sobre a expansão do setor a montante, campanhas de perfuração e os progressos do Banco Africano de Energia

Source: Africa Press Organisation – Portuguese –

A Câmara Africana de Energia (AEC) (https://EnergyChamber.org/) realizou, na terça-feira, em Abidjan, discussões de alto nível com Mamadou Sangafowa Coulibaly, Ministro das Minas, Petróleo e Energia, centradas na aceleração do desenvolvimento do setor a montante, na expansão dos fluxos de investimento e no reforço dos quadros institucionais que apoiam o crescimento energético a longo prazo do país.

A reunião teve lugar num momento em que a Costa do Marfim continua a consolidar a sua posição como um dos mercados a montante de mais rápido crescimento da África Ocidental, apoiada pelo aumento da produção, por campanhas de perfuração ativas e por um renovado interesse internacional na exploração em áreas offshore.

Um dos principais temas de discussão foi o desempenho dos principais projetos de desenvolvimento a montante da Costa do Marfim, com ênfase nos sólidos resultados operacionais já alcançados pelos principais operadores internacionais e na dinâmica positiva que se mantém em toda a bacia. O projeto Baleine da Eni, desenvolvido em parceria com a Petroci e a Vitol, continua a ser fundamental para a trajetória de crescimento da produção da Costa do Marfim, prevendo-se que a sua terceira fase de desenvolvimento aumente significativamente a produção para cerca de 150 000 barris por dia. O projeto continua também a contribuir com gás associado para a produção de energia elétrica a nível nacional, reforçando a sua importância estratégica para a segurança energética nacional.

A reunião analisou ainda as atividades de perfuração em curso e futuras nos ativos em produção. As operações da VAALCO Energy no Bloco CI-40 offshore, em parceria com a CNR International, estão a preparar uma nova campanha de perfuração na sequência de melhorias planeadas no campo, prevendo-se aumentos de produção a partir de 2026, no âmbito de uma estratégia mais ampla de reabilitação centrada na perfuração de preenchimento e na otimização de ativos.

Foi igualmente destacado o dinamismo da exploração na bacia offshore da Costa do Marfim, incluindo a campanha de perfuração de múltiplos poços planeada pela Murphy Oil, que visa prospetos como Civette, Caracal e Bubale durante o período de 2025–2026. O encontro registou ainda um renovado interesse internacional no setor a montante do país, apoiado pelo seu ambiente favorável ao investimento, incluindo a mais recente entrada da Petrobras através da adjudicação de vários blocos de exploração offshore.

Os desenvolvimentos institucionais e financeiros foram igualmente um ponto-chave de discussão, em particular as reformas no seio da Organização dos Produtores Africanos de Petróleo e os progressos no sentido da criação do Banco Africano de Energia. O ministro garantiu que os esforços para tornar o banco operacional estão a avançar, com trabalhos em curso para assegurar que este se torne plenamente funcional e capaz de impulsionar uma maior participação das partes interessadas, tanto do setor público como do privado. A iniciativa foi destacada como um mecanismo prioritário para alargar o acesso ao capital para projetos energéticos africanos e reforçar o desenvolvimento a longo prazo do setor a montante em todo o continente.

«O que estamos a observar na Costa do Marfim não é um progresso incremental — trata-se de uma clara aceleração da dinâmica no setor a montante. Com grandes projetos a avançar, novas explorações a entrar no mercado e quadros de financiamento a tomarem forma, o país está a posicionar-se como um dos destinos de investimento energético mais atraentes de África», afirmou NJ Ayuk, Presidente Executivo da AEC.

A Câmara também realizou debates com a Africa Global Logistics (AGL), onde a liderança destacou o papel crescente da empresa como parceiro-chave em logística e infraestruturas, apoiando o setor do petróleo e gás da Costa do Marfim. A AGL tem-se posicionado cada vez mais como um facilitador central da atividade a montante, fornecendo apoio logístico, de transporte e operacional a grandes empresas de exploração, incluindo a Eni, a Murphy Oil e a CNR International. A empresa está também a investir em novas infraestruturas logísticas no país, reforçando a emergência da Costa do Marfim como um centro regional para serviços da cadeia de abastecimento energético, ao mesmo tempo que melhora a eficiência e a competitividade em termos de custos para os operadores de todo o setor.

Outros encontros incluíram a GES-Petrogaz, uma associação local de serviços de petróleo e gás, focada no reforço da participação dos prestadores de serviços nacionais na cadeia de valor energética, na melhoria do ambiente propício para as empresas locais e na expansão do desenvolvimento de competências e das oportunidades de empreendedorismo.

Foram igualmente realizadas discussões com a Société Ivoirienne de Raffinage (SIR), onde foram delineados planos para expandir a capacidade de refinação, a par de esforços para reforçar a segurança energética nacional e apoiar a produção de combustíveis com menor pegada de carbono, no âmbito da estratégia mais ampla de desenvolvimento industrial da Costa do Marfim.

Distribuído pelo Grupo APO para African Energy Chamber.

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Ivory Coast and African Energy Chamber (AEC) Advance Discussions on Upstream Expansion, Drilling Campaigns and Africa Energy Bank Progress

Source: APO – Report:

The African Energy Chamber (AEC) (https://EnergyChamber.org/) held high-level discussions on Tuesday in Abidjan with Mamadou Sangafowa Coulibaly, Minister of Mines, Petroleum and Energy, focused on accelerating upstream development, expanding investment inflows and strengthening institutional frameworks supporting the country’s long-term energy growth.

The meeting took place as Ivory Coast continues to consolidate its position as one of West Africa’s fastest-growing upstream markets, supported by rising production, active drilling campaigns and renewed international exploration interest across offshore acreage.

A key area of discussion was the performance of Ivory Coast’s flagship upstream developments, with emphasis on the strong operational results already achieved by key international operators and the continued positive momentum across the basin. Eni’s Baleine project, developed in partnership with Petroci and Vitol, remains central to Ivory Coast’s output growth trajectory, with its third development phase expected to significantly increase production to around 150,000 barrels per day. The project also continues to contribute associated gas to domestic power generation, reinforcing its strategic importance to national energy security.

The meeting also reviewed ongoing and upcoming drilling activity across producing assets. VAALCO Energy’s operations in offshore Block CI-40, in partnership with CNR International, are preparing a new drilling campaign following planned field upgrades, with production increases expected from 2026 as part of a broader redevelopment strategy centered on infill drilling and asset optimization.

Exploration momentum across Ivory Coast’s offshore basin was also highlighted, including Murphy Oil’s planned multi-well drilling campaign targeting prospects such as Civette, Caracal and Bubale over the 2025–2026 period. The engagement also noted renewed international interest in the country’s upstream sector, supported by its favorable investment environment, including Petrobras’ latest entry through the award of multiple offshore exploration blocks.

Institutional and financing developments were also a key point of discussion, particularly reforms within the African Petroleum Producers’ Organization and progress toward the establishment of the Africa Energy Bank. The Minister provided assurances that efforts to operationalize the bank are advancing, with work ongoing to ensure it becomes fully functional and able to drive greater participation from both public and private sector stakeholders. The initiative was underscored as a priority mechanism to expand access to capital for African energy projects and strengthen long-term upstream development across the continent.

“What we are seeing in Ivory Coast is not incremental progress – it is a clear acceleration of upstream momentum. With major projects advancing, new exploration entering the market, and financing frameworks taking shape, the country is positioning itself as one of Africa’s most compelling energy investment destinations,” said NJ Ayuk, Executive Chairman of the AEC.

The Chamber also held discussions with Africa Global Logistics (AGL), where leadership highlighted the company’s expanding role as a key logistics and infrastructure partner supporting Ivory Coast’s oil and gas sector. AGL has increasingly positioned itself as a central enabler of upstream activity, providing logistics, transport and operational support to major exploration companies including Eni, Murphy Oil and CNR International. The company is also investing in new logistics infrastructure in the country, reinforcing Ivory Coast’s emergence as a regional hub for energy supply chain services while improving efficiency and cost competitiveness for operators across the sector.

Further engagements included GES-Petrogaz, a local oil and gas services association, focused on strengthening the participation of domestic service providers in the energy value chain, improving the enabling environment for local companies and expanding skills development and entrepreneurship opportunities.

Discussions were also held with Société Ivoirienne de Raffinage (SIR), where plans to expand refining capacity were outlined alongside efforts to enhance national energy security and support the production of lower-carbon fuels as part of Ivory Coast’s broader industrial development strategy.

– on behalf of African Energy Chamber.

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Africa Finance Corporation and Leading Italian Institutions Sign Strategic Cooperation Agreements at AFC-Italy Forum to Mobilise Capital and Accelerate Industrial Development Across Africa

Source: APO – Report:

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, today signed a series of strategic cooperation agreements with leading Italian partners at the AFC–Italy Business Forum in Rome, marking a significant step in translating Italy–Africa cooperation into bankable projects, scalable financing solutions and long-term industrial partnerships across Africa.

The forum brought together senior representatives from government, including Deputy Minister of Enterprises and Made in Italy, Valentino Valentini, and Director General of the Treasury, Riccardo Barbieri Hermitte, development finance institutions, industry, investors and project sponsors to strengthen Africa–Italy cooperation and advance the objectives of Italy’s Mattei Plan for Africa. As part of the strategic forum’s key outcomes, several agreements were signed with Cassa Depositi e Prestiti (CDP), SACE, Confindustria Assafrica & Mediterraneo and IMAGRO S.p.A., to establish a framework for enhanced collaboration across infrastructure financing, export credit support, project preparation, industrial procurement, business matchmaking and private sector participation in AFC-supported projects throughout Africa.

The partnerships align with the objectives of Italy’s Mattei Plan and bring together AFC’s infrastructure development mandate, African project pipeline and risk-mitigation capabilities with Italy’s development finance, export credit instruments, industrial networks and private sector capabilities. Together, the institutions will work to mobilise capital and accelerate investment across key sectors including power and renewable energy, transport and logistics, critical minerals, natural resources, heavy industry, manufacturing, technology-enabled infrastructure and regional trade corridors.

The agreements build on a growing partnership between AFC and Italian institutions. Over the last few years, CDP has provided facilities totalling EUR400M to AFC, including a EUR250 million loan in 2025, supported by an 80% guarantee from SACE. These transactions reinforce the institutions’ confidence in AFC’s ability to deliver high-impact infrastructure projects across the continent, with particular focus on the Lobito Corridor. The new cooperation frameworks expand that relationship beyond traditional development cooperation to commercially viable infrastructure and industrial projects that can deliver long-term economic competitiveness, supply chain resilience and shared prosperity.

Samaila Zubairu, President and CEO of AFC, said, “The AFC–Italy Business Forum was established to move beyond dialogue and create practical pathways for investment and industrial cooperation between Africa and Italy, and the agreements signed today demonstrate that commitment in action. By combining AFC’s project development expertise and investment pipeline with Italy’s financial, industrial and technological strengths, we are creating the partnerships needed to mobilise capital, reduce investment risk and accelerate industrial development across Africa. These collaborations will help transform opportunities into bankable projects that strengthen value chains, create jobs and support sustainable economic growth across the continent.”

Lorenzo Ortona, National Deputy Coordinator of the Mattei Plan, said “The Mattei Plan was created to build an equal partnership with African countries, grounded in concrete projects and shared benefits. Our collaboration with Africa Finance Corporation fully embodies this spirit: over these years, AFC has proven to be a reliable and capable partner, able to translate the Plan’s ambitions into bankable initiatives and real investments that benefit both African economies and the Italian system. I wish to thank AFC for the work we have accomplished together, which has made it possible to mobilise capital, share risk and open new opportunities for Italian companies along strategic value chains – from infrastructure to energy, from critical raw materials to trade corridors. The agreements signed today consolidate a journey already underway and strengthen the economic ties between Italy and the African continent. I am confident that this synergy between the Italian system and AFC can only continue to grow, generating investment, employment and shared prosperity on both shores of the Mediterranean.”

Under the agreement with CDP, AFC and Italy’s development finance institution will explore opportunities for co-financing strategic projects, future funding arrangements, project preparation initiatives and collaboration with both African and Italian enterprises. The partnership will also support the identification and development of bankable projects across priority sectors including infrastructure, energy, water, environmental protection, natural resources, agriculture, food security and manufacturing.

Giovanni Gorno Tempini, President of Cassa Depositi e Prestiti, said: “The agreements signed today mark a significant step in advancing a new phase of partnership between Italy and Africa, reflecting a broader shift introduced by the Mattei Plan towards long-term, mutually beneficial cooperation based on shared priorities and industrial development. As Italy’s National Promotional Institution and Development Finance Institution, CDP plays a central role in delivering this vision, mobilising financial resources and instruments to support transformative investment programmes across the continent. By renewing the partnership with Africa Finance Corporation, we are strengthening our capacity to co-develop projects, expand co-financing opportunities and connect African and Italian enterprises from an early stage, helping to make investments more robust, bankable and attractive to private capital, and ultimately contributing to sustainable growth and shared prosperity.”

The cooperation framework with SACE, Italy’s export credit agency, will focus on leveraging guarantees, credit enhancement tools, export credit support and risk-sharing mechanisms to crowd in investment and facilitate greater participation by Italian companies in African infrastructure and industrial projects.

Michele Pignotti, CEO of SACE, said: “SACE is the leading Export Credit Agency per new Commitments in Africa, with over 6.4 billion mobilised across the continent since the launch of the Mattei Plan for Africa. Partnering with AFC is fundamental to unlock the full potential of Italy-Africa trade & investments. Together, we aim to facilitate the participation of Italian companies in the continent’s most strategic projects, spanning transport corridors, energy infrastructure, industrial development and critical raw materials value chains. Our agreement creates a framework that allows us to identify opportunities in advance, mobilise capital more effectively and generate stronger synergies between our respective instruments and capabilities.”

AFC also signed a strategic cooperation agreement with Confindustria Assafrica & Mediterraneo, the organisation that supports the internationalisation of Italian companies in Africa, the Middle East and Turkey. The agreement will strengthen engagement between African project sponsors and Italian businesses through business missions, investment promotion activities, matchmaking initiatives, conferences and knowledge-sharing platforms designed to increase private sector participation in AFC projects.

Enrico Maria Bagnasco, President of Confindustria Assafrica & Mediterraneo, said: ”The collaboration with Africa Finance Corporation is an opportunity to support a stronger and more effective Italian presence in Africa. The Memorandum of Understanding we signed today with AFC is an important step in this direction. It gives our cooperation a more structured basis and can help strengthen the link between AFC and Italian industry, opening new project opportunities and supporting the involvement of Italian companies in Africa’s infrastructure development.”

As AFC continues to expand its network of strategic partnerships with development finance institutions, export credit agencies and industrial stakeholders around the world, the Corporation remains committed to mobilising the capital, expertise and partnerships required to build resilient infrastructure, advance industrialisation and unlock Africa’s long-term economic potential.

– on behalf of Africa Finance Corporation (AFC).

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

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

Nineteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of energy, natural resources, heavy industry, transport, and telecommunications. AFC has 48 member countries and has invested over US$19 billion in 36 African countries since its inception.

www.AfricaFC.org

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Arab Coordination Group (ACG) and Côte d’Ivoire Advance Investment Opportunities Under the National Development Plan 2026–2030 at Islamic Development Bank (IsDB) Annual Meetings in Baku

Source: APO – Report:

The Government of Côte d’Ivoire, in partnership with the Arab Coordination Group (ACG) (https://TheACG.org), successfully hosted a high-level Investment Forum on the sidelines of the 2026 Annual Meetings of the Islamic Development Bank (IsDB) Group in Baku, Azerbaijan, to showcase investment opportunities under the National Development Plan (NDP) 2026–2030 and strengthen strategic partnerships for its implementation.

The forum brought together representatives of the Arab Coordination Group (ACG), development finance institutions, sovereign wealth funds, private investors, and business leaders to discuss investment opportunities across key sectors of the Ivorian economy and explore avenues for enhanced cooperation.

The event highlighted the strong and longstanding partnership between Côte d’Ivoire and the Arab Coordination Group, whose member institutions currently support a development portfolio of nearly USD 4 billion in the country. Through financing, technical assistance, and strategic partnerships, ACG institutions have played a significant role in supporting infrastructure, agriculture, energy, transport, and social development projects that contribute to Côte d’Ivoire’s economic transformation.

During the forum, the Government of Côte d’Ivoire presented the priorities and investment opportunities under the National Development Plan 2026–2030, which aims to accelerate economic transformation and position the country as an upper-middle-income economy by 2030. The Plan requires investments estimated at approximately USD 209 billion, with more than 70 percent expected to be mobilized from the private sector.

Participants were introduced to a pipeline of priority public, private, and public-private partnership (PPP) projects and engaged in discussions on financing opportunities, strategic partnerships, and investment facilitation mechanisms to support the successful implementation of the Plan.

The forum provided an important platform for dialogue between the Government of Côte d’Ivoire, Arab development partners, and the private sector, reinforcing investor confidence and strengthening cooperation to advance sustainable and inclusive economic growth.

The successful event reaffirmed Côte d’Ivoire’s position as one of West Africa’s leading investment destinations and underscored the commitment of the Arab Coordination Group and its partners to supporting the country’s long-term development ambitions.

– on behalf of Arab Coordination Group (ACG).

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Islamic Corporation for the Development of the Private Sector (ICD) and Turkic Investment Fund Sign USD 50 Million Islamic Co-Financing Program for Small and Medium-Sized Enterprises (SME) Development

Source: APO – Report:

  • ICD and the Turkic Investment Fund (TIF) signed a USD 50 million Managed Islamic Co-Financing Program (MICFP) on 17 June 2026 in Baku during the Private Sector Forum.
  • Under a Framework Agreement, ICD will act as agent to manage Shariah-compliant financing opportunities in Central Asian and Turkic member countries.
  • TIF’s USD 50 million will support SMEs and private sector businesses in markets with limited access to long-term Islamic development finance.
  • This first ICD–TIF partnership establishes TIF as an anchor institutional partner in ICD’s capital mobilization platform.

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org) and the Turkic Investment Fund (TIF) signed a USD 50 million Managed Islamic Co-Financing Program (MICFP) on the margins of the IsDB Group Annual Meeting Private Sector Forum in Baku.

Under  the Framework Agreement, ICD will act as managing agent to source, structure, and deploy Shariah-compliant financing across its LOF pipeline in Turkic and Central Asian member countries, with TIF committing USD 50 million over 2026–2028.

The MICFP advances ICD’s strategy to attract institutional investors, such as development funds, sovereign funds, commercial banks, pension funds, and takaful providers, to co-invest alongside ICD. The framework gives TIF access to a diversified portfolio of Shariah-compliant transactions in markets where ICD has deep operational expertise.

The program aims to expand long-term Islamic financing for SMEs and private sector businesses across Central Asia and Turkic regions, driving inclusive growth, employment, and financial access in underserved markets. TIF becomes an anchor institutional partner within ICD’s capital mobilization platform.

– on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

Media Contact: 
For media inquiries, please contact:
icd.communication@isdb.org

Follow ICD on:
X (@icd_ps)
LinkedIn (@icdps)
Facebook (@icdps)
YouTube (@icdps)

About the Turkic Investment Fund: 
The Turkic Investment Fund (TIF) is the first dedicated international financial institution jointly established by the Turkic states, focusing on fostering economic cooperation, increasing intra-regional trade, and sustainable development across the Turkic world. Established by an agreement signed at the Extraordinary Summit of the Organization of Turkic States (OTS) in Ankara on March 16, 2023, TIF operates with a total authorized capital of USD 600 million and currently comprises six member states — Azerbaijan, Hungary, Kazakhstan, the Kyrgyz Republic, Türkiye, and Uzbekistan. Headquartered in Istanbul, the Fund’s mission is to enhance economic cooperation, boost intra-regional trade, and support sustainable development across the Turkic world. Having transitioned from its establishment phase to full operationalization in early 2026, TIF has begun conducting initial discussions with regional and international financial institutions to lay the groundwork for co-financing partnerships, positioning it as a key multilateral platform for channeling capital into high-impact, cross-border projects across the Turkic region. For more information, visit https://TurkicFund.org/.

About ICD: 
The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development finance institution and member of the Islamic Development Bank (IsDB) Group. Established in November 1999 and headquartered in Jeddah, Saudi Arabia, ICD supports economic development in its 56 member countries by providing financial assistance to private sector projects in accordance with Shariah principles. With an authorized capital of USD 4.0 billion and more than 25 years of operational excellence, ICD complements IsDB’s activities by promoting capital market development, best management practices, and enhancing the role of market economies. ICD holds strong credit ratings of A2 by Moody’s, A+ by Fitch, and A by S&P. For more information, visit www.ICD-ps.org 

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South Sudan’s Mining Minister to Spotlight Sector Reforms and Growth Strategy at African Mining Week (AMW) 2026

Source: APO


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Minister of Mining of the Republic of South Sudan, Losuba Ludoru Wongo, has confirmed his participation as a speaker at African Mining Week (AMW) 2026 – Africa’s premier mining event – taking place from October 14–16 in Cape Town.

His participation comes as South Sudan intensifies efforts to position mining as a cornerstone of economic diversification beyond its petroleum sector, supported by ongoing regulatory reforms and strategic policy development.

Minister Wongo is expected to join fellow African mining leaders during the Ministerial Forum, where he will outline the country’s evolving mining framework and emerging opportunities for international investors and partners. The engagement comes at a pivotal time, as South Sudan advances reforms aimed at strengthening governance, increasing transparency and improving the overall investment climate.

In early 2026, South Sudan advanced its Mining Act Amendment Bill to Joint Parliamentary Committees for technical review. The proposed legislation introduces key structural reforms, including the establishment of a National Gold Refinery to support domestic value addition, alongside plans for a School of Mines to develop local technical expertise and a specialized Mining Police Unit to address illegal mining activities.

In parallel, the country is preparing its Mining Strategic Plan 2026–2030, a roadmap designed to unlock its significant reserves of gold, copper, iron ore and rare earth minerals. The strategy aligns with regional and continental frameworks such as the Africa Mining Vision and aims to position South Sudan as a competitive destination for long-term mineral investment.

Mining is also being integrated into broader infrastructure development plans. Through its Gold-for-Roads framework, South Sudan is leveraging mineral resources to support approximately $2 billion in road construction projects, improving connectivity and opening up new regions for exploration and development.

Against this backdrop, AMW 2026 provides a timely platform for Minister Wongo to engage with policymakers, investors and industry stakeholders, while showcasing South Sudan’s evolving mining landscape and long-term growth potential.

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

Islamic Corporation for the Development of the Private Sector (ICD) and Azerbaijan Business Development Fund Launch Shariah-Compliant Local Currency Small and Medium-Sized Enterprises (SME) Financing Program with indicative amount of up to AZN 200 Million

Source: APO

  • ICD and ABDF signed an agreement to launch a Shariah-compliant SME financing program of up to AZN 200 million in Azerbaijan.
  • The program introduces local currency (AZN) financing for the first time, protecting SMEs from currency risk by blending ABDF’s AZN funds with ICD’s multi-currency resources.
  • Financing via Murabaha will prioritize rural and liberated areas, plus women-led, youth-led, and green economy businesses.

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org), the private sector arm of the Islamic Development Bank (IsDB), and the Azerbaijan Business Development Fund (ABDF) signed an agreement to launch a Shariah-compliant SME financing program during the IsDB Group Annual Meeting’s Private Sector Forum in Baku. As per the program, the parties agreed to consider deploying up to AZN 200 million to the private sector in Azerbaijan within two years (2026–2028).

The program introduces a local currency (AZN) financing channel, with ICD acting as ABDF’s agent to blend ABDF’s manat funds with ICD’s USD, EUR, and AZN resources. These funds will be used to finance local partner financial institutions via Murabaha, removing foreign exchange risk that has long hindered Azerbaijani SMEs, especially outside major cities. The initiative marks ICD’s first AZN-currency financing in the country.

The program prioritizes rural and liberated areas, women- and youth-led businesses, and green economy projects, aiming to boost employment and build a more inclusive economy.

Dr. Khalid Khalafalla, Acting CEO of ICD, commented: “This program delivers accessible Shariah-compliant financing to the businesses that need it most, with a structure tailored to the realities of Azerbaijan’s economy. By introducing local currency financing for the first time, we are addressing a structural gap in development finance. We are proud to partner with ABDF to create lasting impact for Azerbaijani SMEs.”

Mr. Ulvi Mansurov, CEO of ABDF, commented: “This strategic partnership with ICD represents an important step in expanding Azerbaijani entrepreneurs’ access to international financing. Through this mechanism, we aim to combine ABDF’s resources with ICD’s expertise in Islamic finance to create sustainable and accessible financing opportunities for SMEs across the country. We believe this cooperation will strengthen the participation of local financial institutions in international financing operations, support the development of the real sector, and contribute to more inclusive economic growth in Azerbaijan.”

This agreement marks ICD’s first formal partnership with ABDF and serves as the foundation for long-term collaboration. The program advances ICD’s mandate to mobilize Islamic finance for private sector growth and inclusive prosperity across its 56 member countries. Through this multi-currency facility, ICD works with national partners to deliver targeted impact and build the institutional framework for sustainable SME growth.

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

Media Contact:
For media inquiries, please contact: icd.communication@isdb.org

About the Azerbaijan Business Development Fund (ABDF):
The Azerbaijan Business Development Fund (ABDF) is a state-owned development financial institution operating under the Ministry of Economy of the Republic of Azerbaijan. Established in December 2024 through the merger of the Entrepreneurship Development Fund and the Azerbaijan Investment Company, ABDF consolidates the country’s principal concessional financing and state investment vehicles under a single institutional umbrella. With total assets of approximately AZN 1.5 billion (equivalent to approximately USD 882 million), ABDF’s core mandate is to stimulate private sector growth, drive economic diversification, and channel financing, directly and through partner financial institutions, to priority sectors and regions across Azerbaijan, with a particular focus on SMEs. The Fund’s strong institutional standing and sovereign backing were further affirmed in August 2025, when S&P Global Ratings upgraded ABDF’s long-term issuer credit rating from BB- to BB, citing its strengthened risk position and its pivotal coordinating role between the public and private sectors. For more information, visit www.ABDF.gov.az

About ICD:
The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development finance institution and member of the Islamic Development Bank (IsDB) Group. Established in November 1999 and headquartered in Jeddah, Saudi Arabia, ICD supports economic development in its 56 member countries by providing financial assistance to private sector projects in accordance with Shariah principles. With an authorized capital of USD 4.0 billion and more than 25 years of operational excellence, ICD complements IsDB’s activities by promoting capital market development, best management practices, and enhancing the role of market economies. ICD holds strong credit ratings of A2 by Moody’s, A+ by Fitch, and A by S&P. For more information, visit www.ICD-PS.org and follow ICD on X (@icd_ps), LinkedIn (@icdps), Facebook (@icdps), and YouTube (@icdps).

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Money, food and survival: what drives paid sex among young mums in 3 African countries

Source: The Conversation – Africa – By Anthony Idowu Ajayi, Research Scientist, African Population and Health Research Center

Transactional sex, defined as the exchange of sex for money, food, or favours, is common among young people in Africa. Studies have reported that about 10% of those aged 15-24 have engaged in this exchange in South Africa, 23% in Nigeria and 25% in Uganda. The behaviour has been linked to negative consequences such as unintended pregnancy, sexual violence and HIV infections.

Transactional sex refers to sexual relationships outside marriage that are not classified as commercial sex work, but where there is an expectation that material, financial or other benefits will be exchanged for intimacy or companionship.

We are sexual and reproductive health researchers focused on the intersection of evidence, policy, and lived realities of adolescents in Africa. We recently examined the extent and drivers of transactional sex among pregnant and parenting adolescents in three African countries: Burkina Faso, Kenya and Malawi.

In our earlier qualitative research work with pregnant and parenting girls in Nairobi’s informal settlements, we found that pregnancy intensified economic insecurity. The focus of government and most NGOs, however is mainly on preventing adolescent pregnancy. Little attention is paid to the plight and realities of pregnant and parenting girls.

Our research set out to bring attention to these girls. We did this by examining the prevalence and correlates of transactional sex among adolescents in Burkina Faso, Kenya and Malawi. We surveyed 2,243 girls: 980 in Ouagadogou, Burkina Faso; 594 in Korogocho, Nairobi, Kenya; and 669 in Blantyre, Malawi. They were all either pregnant or already parenting. The youngest participants were 12 years old in Burkina Faso and 13 years old in Kenya and Malawi. The oldest girls in all three countries were 19.

Our findings indicated that transactional sex prevalence varied by context. Living in urban informal settlement environments was a risk. The results were a reminder of the need for stronger support systems for adolescents engaged in transactional sex across the three countries, including those who are pregnant or parenting.


Read more: ‛My father insisted that I have the baby, but not in his house’ – Kenya’s teen mums lack support


Our findings

Our study found that 44.3% of the girls we surveyed in Kenya, 25.4% in Burkina Faso, and 13.0% in Malawi had engaged in transactional sex at some time. The particularly high prevalence in Kenya reflects the study setting in one of Nairobi’s densely populated informal settlements. There, adolescent girls face poverty, unstable support systems, unsafe living conditions, and limited opportunities for self-development. Other studies have also shown that prevalence is lower in other settings outside informal settlements.

The most common reason girls gave for engaging in transactional sex was money. Money was a reason reported by 31.3% of participants in Kenya, 20.5% in Burkina Faso, and 7.8% in Malawi. But girls also reported exchanging sex for food, rent, shelter, clothing, school fees and sanitary pads.

In Kenya, 13.5% specifically cited sanitary pads, compared to 1.0% in Burkina Faso and 1.8% in Malawi. Smaller percentages engaged in transactional sex for school fees, phones or airtime, or other needs such as baby supplies (milk, diapers, clothes).


Read more: Pregnant students in Tanzania may stay in school according to a new ruling by African child rights experts


Individual-level factors

At the individual level, being single increased the likelihood of transactional sex across all three countries. In Burkina Faso, 20% of married and 46% of single girls had transactional sex. In Kenya it was 28% of married girls and 50% of single girls. In Malawi it was 10% of married girls and 16% of single girls.

This suggests that having a partner may provide some degree of financial, material and childcare support. Without support, single adolescent mothers may face pregnancy and early motherhood with very limited resources, increasing their vulnerability to transactional relationships.

One of the surprising findings emerged from Ouagadougou, Burkina Faso. There, 31% of adolescents with a secondary education had engaged in transactional sex, against 21% of those with only a primary education. This challenges the common assumption that education is an immediate shield against exploitation. It suggests that remaining in school may itself become financially difficult for adolescent girls living under poverty and weak support systems. For girls who are in school from a poor background, the need for money, food and school fees may make them engage in transactional sex.

Substance use also more than doubled the risk in Burkina Faso, among girls who reported using alcohol or drugs compared to those who did not. This association was not significant in Kenya or Malawi.

Interpersonal-level factors

At the interpersonal level, orphanhood mattered, though differently across countries.

In Malawi, girls who had lost both parents faced nearly double the risk of engaging in transactional sex, compared with non-orphans. In Kenya, girls who had lost one parent were 43% more likely to engage in transactional sex. Even more significant at the interpersonal level was the impact of low parental support in Malawi, where girls who felt unsupported by their parents were three times more likely to engage in transactional sex.

Community-level factors

We asked participants questions to assess how safe they felt in their neighbourhoods. In Kenya and Burkina Faso, a higher score for perceived neighbourhood safety was associated with a lower likelihood of transactional sex. Girls said they engaged in sex in exchange for security and protection. In Malawi, feeling safe didn’t make a difference.


Read more: Teen mothers and depression: lack of support from partners and violence are big drivers in Malawi and Burkina Faso


What needs to change

The study demonstrates that transactional sex among pregnant and parenting adolescents is less a choice than a strategy to cope with severe socioeconomic hardship. It is shaped by distinct individual risks, fracturing family support and community insecurity.

What drives transactional sex changes from country to country. Because of this, programmes to address it need to be customised for each specific place.

Interventions should address structural vulnerabilities and strengthen family and community support systems. They must also improve neighbourhood safety to reduce adolescent mothers’ reliance on transactional sex and the harms associated with it.

– Money, food and survival: what drives paid sex among young mums in 3 African countries
– https://theconversation.com/money-food-and-survival-what-drives-paid-sex-among-young-mums-in-3-african-countries-284327

Malawi’s education choices in the wake of aid cuts

Source: The Conversation – Africa – By Alyssa Morley, Assistant professor, Michigan State University

Over a year has passed since the Donald Trump administration dismantled USAID, cutting more than 5,000 programmes and slashing US$40 billion in funding worldwide.

The cuts have reduced access to HIV treatment, driven up severe malnutrition among children, and resulted in an estimated 700,000 lives lost. Medication and infrastructure to treat diseases like malaria, tuberculosis and pneumonia were withdrawn.

In education, USAID’s closure has created an “unprecedented crisis”, according to a report by the European Training Foundation, an EU agency.

Aid austerity is not limited to the US. In 2025, overall official development assistance dropped by 23%, marking what the OECD described as a “historic decline in foreign aid”. Cuts came from the US, Germany, the UK, France, Canada and Japan.

As a transnational team of education scholars, we take a critical approach to development aid. While we recognise that aid can improve and even save lives, it is not an inherent good. It can reproduce inequities.

We have spent decades studying educational interventions in Malawi and have documented how, even while aid has delivered benefits to individuals, its structures sideline local organisations, serve the interests of donor countries, and mimic colonial relations.

For these reasons, we’ve been thinking about whether USAID’s closure, while painful and damaging, might give rise to a new arrangement beyond aid.

Malawi is an ideal setting to explore this moment of change. The US alone contributed 13% of the country’s overall budget and provided one-quarter of education development spending. Interested in how Malawians make sense of aid austerity and imagine alternatives, we are launching a three-year (2026-2029) qualitative study of post-USAID possibilities in Malawi’s education sector. We are asking civil servants, NGO workers and aid workers how they see the future of education amid aid austerity.

To prepare for the project, we conducted a pilot study of the immediate aftermath of USAID’s closure, from January to June 2025, with first-round follow-up interviews in May 2026. The 20 education experts we spoke to held very mixed opinions on the post-USAID landscape. Some saw potential to redress power imbalances; others emphasised the obstacles to self-resourcing. We pause now to reflect on these themes.

Malawi’s relationship with aid

Prior to the cuts, Malawi was saturated with international development – one informant called it “a development playground”. From 2019 to 2023, foreign governments contributed 80% of funding to Malawi’s education capital projects (school and classroom construction projects), according to Unicef.

In 2024, USAID allocated US$34 million to education projects that promoted early-grade literacy and higher education. In turn, USAID’s portfolio buttressed US soft power while garnering opportunities for US businesses and contractors.

In our research, we’ve purposefully included individuals with diverse perspectives on development and aid. Some participants have been employed directly by USAID, while others hold experience with local NGOs, government, and universities.

For some, the closure of USAID was a welcome change. One former development worker called the previous status quo “more immoral than the cruel reality” of aid cuts themselves, as

it was appearing as if the right things were happening, when in actual sense, the wrong things were happening.

Comparing aid relations to “coating a bitter thing with sweet on top”, she was relieved by what felt like a break from the conditionalities and hidden agendas of US aid. She explained that, despite the rhetoric of improving Malawian education, USAID tended to funnel money to US consultants and international (rather than Malawian) NGOs. The projects ended up misaligning with Malawi’s needs. Recently, political scientist Dan Banik urged Malawi to “say ‘no thank you’ to donors” when funding doesn’t support national priorities.

Given the fickle nature of donor funding, some study participants shared stories of how their organisations had already moved towards self-resourcing models prior to USAID cuts. While one Malawian NGO had incorporated a business division with facility and vehicle rentals, another introduced a farming scheme whose profits supported the NGO’s operational expenses. Both NGOs focused on community-driven, holistic and multi-generational education. Innovations like these, together with diversified funding sources, were imagined to help local organisations survive in a rapidly changing financial landscape that includes shocks of austerity.


Read more: Africa relies too heavily on foreign aid for health – 4 ways to fix this


Still, others worried that Malawi’s economic realities make alternative funding arrangements and aid refusal impossible. One faculty member at the University of Malawi explained that the country’s economic growth has stagnated for years. Speaking in early 2025, this scholar warned that idealistic visions of post-aid Malawi were naive at best.

Malawi’s economy is in crisis, facing mounting debt borrowed from the World Bank, IMF and African Development Bank. After the 2025 aid cuts, the Malawian government increased its debt to compensate for lost funding flows. Debt payments have reached 90% of Malawi’s GDP.

At the same time, respondents pointed to recent global developments that have only worsened the country’s financial situation. Wars in Iran and Russia/Ukraine have led to bottlenecks in key supply chains. Fuel costs in Malawi are among the highest in the world and fertiliser shortages foreshadow food insecurity for Malawi’s subsistence farming population. Opportunities for steady salaried employment in the development sector have vanished, as have the financial ripples these salaries create for the broader economy. International staff and projects, now reduced in numbers, are infusing less foreign exchange into the economy.

In the absence of cash flows, self-resourcing efforts become increasingly untenable. Instead, new forms of more nakedly transactional aid have begun to appear, for example in US-led MOUs that are “turning health aid into leverage.”

No matter what comes next for education in Malawi, it is clear that we are in a transitional space where the terms of development are being rewritten. Emerging funding mechanisms — such as self-resourcing, debt-financed investments, and transactional aid — could amplify power imbalances instead of ameliorating them. This landscape demands continued intellectual and ethical scrutiny.

Dr Steve Sharra, director of academic affairs at Malawi School of Government, contributed to this research and article.

– Malawi’s education choices in the wake of aid cuts
– https://theconversation.com/malawis-education-choices-in-the-wake-of-aid-cuts-284725