Category: Africa

Source: APO

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Hon. Mr. James MARAPE, Prime Minister of the Independent State of Papua New Guinea will visit Japan from July 20 to 23, 2025 to attend Expo 2025 Osaka, Kansai, Japan.

1. During his stay in Japan, Prime Minister Marape will participate in the National Day Event of Expo 2025 Osaka, Kansai, Japan, as an official guest of the Government of Japan.
2. This year marks the 50th anniversary of the establishment of diplomatic relations between Japan and Papua New Guinea. The Government of Japan hopes that this visit will further strengthen the friendly relations between Japan and Papua New Guinea.

(Reference) Prime Minister Marape’s previous visit to Japan

July 2024	Attending the 10th Pacific Islands Leaders Meeting (PALM10)
September 2022	Attending the State Funeral for the late Prime Minister ABE Shinzo

And other occasions

Distributed by APO Group on behalf of Ministry of Foreign Affairs of Japan.

Source: APO

The International University of Sarajevo (IUS), in strategic partnership with the Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org/) and in collaboration with esteemed institutions including the University of Dundee (UK), Istanbul Sabahattin Zaim University (Türkiye), INCEIF University (Malaysia), and the Center for Advanced Studies (Bosnia and Herzegovina), successfully hosted the international conference “Values for Impact: Ethical Finance, Innovation, and Sustainable Growth.”

The event, held at the IUS Campus in Sarajevo from 18-19 June 2025, was supported by platinum sponsor Kuveyt Türk Katılım Bankası and BH Telecom, which sponsored a key panel on artificial intelligence.

The conference was inaugurated by IUS Rector, Prof. Dr. Ahmet Yıldırım, who highlighted its global significance, stating, “This conference represents a pivotal moment for global collaboration, uniting diverse perspectives to advance ethical finance and sustainable development, aligning with IUS’s commitment to fostering innovation and moral responsibility in economic systems.”

Dr. Sami Al-Suwailem, Acting Director General of IsDBI, delivered a keynote address, articulating a bold vision for Islamic finance. He stated: “Islamic finance offers the blueprint for aligning finance with markets, technology with values, and innovation with sustainability. As the world desperately seeks a new paradigm, we must rise to the challenge and contribute to a better future that we all aspire to. The path ahead will not be easy. But the mission is worth the journey.”

Dr. Ahmet Albayrak, Executive Vice President of Kuveyt Türk Katılım Bankası and Patron of the IUS Center for Islamic Finance, Innovation, and Sustainability, emphasized the importance of uniting global thought leaders to strengthen the moral and digital foundations of economic systems.

One of the highlights of the conference was the participation of three distinguished recipients of the Islamic Development Bank Prize in Islamic Economics:

• Dr. Mehmet Asutay, Professor of Middle Eastern and Islamic Political Economy & Finance, Durham University Business School, UK
• Dr. Mohammad Kabir Hassan, Professor of Economics and Finance, University of New Orleans, USA
• Dr. Habib Ahmed, Sharjah Chair in Islamic Law and Finance, Durham University Business School, UK

These luminaries enriched discussions with their expertise, offering profound insights into the intersection of ethics, innovation, and finance.

Over 160 participants from more than 20 countries, including academics, industry leaders, policymakers, and representatives of international organizations, engaged in dynamic sessions exploring topics such as Islamic fintech, sustainable investment, and the moral foundations of economic systems.

Notable sessions included “Reviving the Moral Foundations of Economic Life,” “Islamic FinTech for Inclusive and Ethical Futures,” and “Green Waqf: Islamic Sustainable Solutions to Climate Change.” A special parallel session, led by Dr. Beebee Salma Sairally, Editor of the International Journal of Islamic Finance and Sustainable Development (a jointly produced journal by IsDBI and INCEIF), provided valuable guidance on publishing in peer-reviewed journals.

The conference is expected to pave the way for Bosnia and Herzegovina to become an intellectual hub for the development of Islamic economics and finance in the region and to contribute to the national and regional sustainable development agenda.

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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About the Islamic Development Bank Institute:
The Islamic Development Bank Institute (IsDBI) is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide. The IsDB Institute enables economic development through pioneering research, human capital development, and knowledge creation, dissemination, and management. The Institute leads initiatives to enable Islamic finance ecosystems, ultimately helping Member Countries achieve their development objectives. More information about the IsDB Institute is available on https://IsDBInstitute.org/

Source: APO

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Finance Minister Dr. Cassiel Ato Forson has inaugurated a new 9-member board for the National Investment Bank (NIB), pledging a major government decision to recapitalise the bank.

Speaking at the inauguration ceremony, Dr. Ato Forson acknowledged that NIB had been subjected to political interference in the past but emphasized that this era has come to an end. “NIB was turned into a political football. But that ends now,” the Finance Minister declared.

The Finance Minister revealed that the government has taken a bold decision to recapitalise NIB and committed to reveal fuller details of the NIB recapitalisation plan during the upcoming mid-year review.

The newly inaugurated board is chaired by Mr. Frank Adu Jnr., who expressed gratitude to the Finance Minister and appealed for continued support to help turn around the bank’s fortunes.

The complete board composition includes Managing Director, Dr. Doli-wura Awushi Abdul-Malik Seidu Zakarai, Hon. Dr. Othniel Ekow Kwainoe, Hon. Ebenezer Kwaku Addo. Other members are Dr. Mrs. Mercy Naa Aku Ofei-Koranteng, Dr. Shani Bashiru, Mr. Max George Cobbina, Dr. Kwasi Akyem Apea-Kubi, and Dr. Alfred Attuquaye Botchway.

Distributed by APO Group on behalf of Ministry of Finance – Republic of Ghana.

Source: APO

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The Minister for Finance, Dr. Cassiel Ato Forson, has inaugurated a new Board of Directors for the Agricultural Development Bank (ADB), with a call on the members to stay true to the bank’s core mandate of championing Ghana’s agricultural transformation.

At a brief ceremony to formally induct the board, the Minister underscored the critical role of agriculture in national development, noting that no country can achieve sustainable growth without a vibrant and resilient agricultural sector.

“I have therefore tasked the new board to remain focused and guided by their primary mandate — serving Ghana’s agricultural sector,” he stated.

In a significant announcement, Dr. Ato Forson assured the new board and management of plans to recapitalize the Agricultural Development Bank in 2026.

This move, he explained, is aimed at strengthening ADB’s financial position to better support farmers, agribusinesses, and agricultural value chain initiatives.

The newly inaugurated board is chaired by Mr. Kenneth Kwamina Thompson, with Mr. Edward Ato Sarpong serving as Managing Director.

Other distinguished members include:

•             Hon. Andrew Dari Chiwitey

•             Mr. Siisi Essuman-Ocran

•             Hon. Dr. E. Prince Arhin

•             Hon. Misbahu Mahama Adams

•             Wing Commander Samuel J.A. Allotey

•             Mr. Courage Akanwunge Asabagna

•             Mr. Abdul Nasir M. Saani

Distributed by APO Group on behalf of Ministry of Finance – Republic of Ghana.

Source: APO

Verdant IMAP (www.Verdant-Cap.com) acted as sole financial adviser to Miro Forestry & Timber Products (“Miro”) on its equity capital raise.

The equity capital raise was led by Lagata an investment company focused on active investments in sub-Sahara Africa with significant experience in the forestry sector in the West Africa region.  Lagata, which is now Miro’s largest shareholder, brings strategic value and alignment with Miro’s long-term vision.  Five existing shareholders in Miro also participated in the equity funding transaction, Agwa Partners, British International Investment, Finnfund, FMO and Mirova, demonstrating continued confidence in Miro’s strategy, impact and commercial potential, and validating the overall transaction structure.  Proceeds from the equity capital raise will be used to fund operations, working capital requirements, and ongoing planting activities aligned with Miro’s business plan.

The equity capital raise was achieved during a challenging period for the wider industry, with macroeconomic pressures and a prolonged downturn in plywood prices. Yet demand continues to grow for resilient, responsibly sourced materials. Miro’s vertically integrated model, combining certified sustainable forestry, local job creation, and advanced plywood manufacturing, offers a compelling solution to global buyers looking to secure long-term, ethical supply. 

This transaction highlights Verdant IMAP’s ability to structure and execute complex capital solutions for its clients, while reinforcing its strong relationships with leading development finance institutions. The transaction is Verdant IMAP’s sixth completed transaction in the broader agro-industrial sector in the last 24 months.  The transaction also represents Verdant IMAP’s fifth major transaction in West Africa in the last four years. 

Berend Jan Kingma, CEO of Miro, commented:
 
“We are proud to welcome Lagata as our new principal shareholder. Their experience in forestry and deep understanding of African markets make them a natural partner for the next phase of Miro’s growth. We are equally grateful for the continued support of our existing shareholders, who share our belief in the power of sustainable forestry to deliver both commercial and social value. With this investment, we’re well positioned to strengthen our global reach and deepen our impact across the region.”

Distributed by APO Group on behalf of Verdant Capital.

Media Enquiries:
Orient Mahonisi
T: +27 10 140 3700
E: orient.mahonisi@verdant-cap.com

About Verdant IMAP:
Verdant IMAP is a leading investment bank operating on a pan-African focus, specialising in M&A and in private capital markets.  Verdant IMAP is the IMAP partner firm for its region.  IMAP with partner firms in nearly 50 countries, with over 600 M&A professionals, completing over 250 M&A transactions per year, reinforces Verdant IMAP’s capability to deliver innovative financial solutions to clients across Africa and around the World. www.Verdant-Cap.com 

About Miro Forestry & Timber Products:
Founded in 2009, Miro is a vertically integrated plywood manufacturing business headquartered in the United Kingdom, with operations in Ghana and Sierra Leone. The company manages over 20,000 hectares of sustainably planted timberland, producing high-quality FSC-certified hardwood plywood and ancillary timber products. Miro supplies customers globally, including in North America, Europe, the Middle East, and in local African markets.  Miro employs over 4,000 people.

About Lagata:
Lagata invest in businesses in growth markets, with a specific expertise in emerging markets and particularly in Sub–Saharan Africa. Lagata puts responsible investment at the core of its investment strategy, focusing on growing businesses that can generate sustainable profits and create a positive social and environmental impact. Lagata adds long-term value to their businesses while aiming to improve the infrastructure where they operate. Lagata achieves this through hands on involvement, and by connecting these companies to the ecosystem of support services that Lagata have built up throughout the region.

Source: APO

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Finance Minister, Dr. Cassiel Ato Forson, has inaugurated a new Board of Directors for Consolidated Bank Ghana Limited (CBG).

Speaking at the swearing-in ceremony, Dr. Ato Forson reminded the board that CBG stands as a symbol of the state’s intervention, when approximately GH₵30 billion was spent to purportedly salvage and restore confidence in the financial sector.

“I have assured the board of the government’s commitment to recapitalize CBG in the coming year. However, it is equally important that this board safeguards taxpayers’ money, as you have been entrusted with a crucial national asset,” he charged.

The Finance Minister also issued a firm warning against the era of excessive salaries and board allowances within State-Owned Enterprises (SOEs), stressing that such practices would not be tolerated under the current administration.

Newly appointed Board Chairman, Mr. Ernest Mawuli Agbesi, expressed his gratitude for the opportunity to serve the nation once again. He commended the government’s resolve to recapitalize the bank and pledged that the board would work diligently to deliver value to both the government and the Ghanaian people.

The newly inaugurated CBG Board comprises:

•             Mr. Ernest Mawuli Agbesi — Chairperson

•             Dr. Naomi Wolali Kwetey — Managing Director

•             Ms. Irene Ackuaku — Member

•             Mr. David Adom — Member

•             Mr. Michael Kwasi Anyamesem — Member

•             Mr. Stephen Kporzih — Member

•             Dr. Sa-ad Iddrisu — Member

•             Mrs. Immaculate Kawe Kanlisi — Member

•             Mr. John Alexander Ackon — Member

Distributed by APO Group on behalf of Ministry of Finance – Republic of Ghana.

Source: APO

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The Portfolio Committee on Sports, Arts and Culture Chairperson, Mr Joe McGluwa, has apologised to three-time world 800-metre champion Ms Caster Semenya for the treatment she has received at the hands of the International Association of Athletics Federations (IAAF), which has sought to unfairly criminalise her sporting ability.

The committee noted the ruling of the European Court for Human Rights, which has correctly ruled that the IAAF had discriminated against Ms Semenya. “This is vindication for the support. As the Chairperson of the committee, I was fortunate to be involved in all these controversies since 2010. Caster has stood the test of time despite being ridiculed because someone, somewhere, could not believe that a girl from Limpopo could make us proud,” Mr McGluwa said.

“We should now close this chapter once and for all as a decision had finally been made. One can only imagine how South Africa’s jewel has been affected and frustrated by all of this. And for all of this, we South Africans say we apologise and we salute you,” said Mr McGluwa.

Mr McGluwa said everybody should focus on the future now and, if possible, Athletics South Africa should find a way to contribute in new ways to her sport and her country.

In 2021, Ms Semenya appealed to the European Court following a set of IAAF special regulations, which ordered her to lower her testosterone levels. “We can’t run away from it; Caster is talented. It will take our country a long while to produce another powerhouse athlete as her,” concluded Mr McGluwa.

Distributed by APO Group on behalf of Republic of South Africa: The Parliament.