Kenya and Qatar have agreed to institutionalise annual Bilateral Political Consultations as part of efforts to strengthen political dialogue and deepen cooperation between the two countries.
The inaugural consultations were led by Principal Secretary for Foreign Affairs Dr. Korir Sing’Oei, CBS, and H.E. Dr. Ahmed bin Hassan Al Hammadi, Secretary-General of the Ministry of Foreign Affairs of Qatar.
The two sides discussed a wide range of areas, including trade and investment, agriculture and food security, labour mobility, aviation, tourism, education, youth, sports, climate action and multilateral cooperation.
Kenya invited increased Qatari investment in priority sectors, including renewable energy, agriculture, infrastructure, logistics, tourism and Special Economic Zones, and called for Qatar’s participation in Kenya’s USD 200 million Green Investment Fund.
On labour mobility, the two countries agreed to expedite discussions on the review of the 2012 Bilateral Labour Agreement, while Kenya welcomed continued employment opportunities for its citizens in Qatar, where more than 70,000 Kenyans live and work.
Kenya also requested Qatar to review restrictions affecting Kenyan meat exports, with both sides agreeing that relevant technical authorities will continue consultations towards a mutually acceptable solution.
The consultations further welcomed expanding cooperation between Kenya Airways and Qatar Airways, including increased air connectivity, cargo cooperation and opportunities for further aviation collaboration.
The two countries agreed that the Second Bilateral Political Consultations will be held in Nairobi in 2027, further strengthening the framework for regular political dialogue and follow-up.
The inaugural consultations mark a significant milestone in Kenya–Qatar relations and reaffirm the commitment of both countries to shared prosperity, sustainable development and stronger people-to-people ties.
– on behalf of Ministry of Foreign & Diaspora Affairs, Kenya.
The Deputy Minister in The Presidency, Kenny Morolong will on Thursday engage with the Eastern Cape Provincial Executive Council (PEC) on the coordination of government communication, nation branding and community media support in the province.
“The engagement forms part of government’s ongoing communication policy advocacy programme aimed at enhancing a coordinated and integrated government communication system across all spheres of government,” the Government Communication and Information System (GCIS) said on Wednesday.
The engagement follows similar sessions held in the North West, Free State, Mpumalanga and KwaZulu- Natal provinces as part of a nationwide rollout intended to strengthen communication planning, promote a cohesive national narrative, support community media and advance South Africa’s nation-branding objectives.
Morolong has been visiting provinces engaging with the leadership on the revised Government Communication Policy.
The policy places a strong focus on supporting small commercial and community media, with government expected to set aside 30% of its advertising spend for these media outlets.
Government is stepping up efforts to transform the way it communicates with South Africans, with a revised communication policy placing greater emphasis on coordinated messaging, adequate funding for communication and increased support for small commercial and community media.
The Deputy Minister will be accompanied by delegates from the Government Communication and Information System (GCIS), Media Development and Diversity Agency (MDDA) and Brand South Africa (Brand SA).
Speaking at the PEC session in KwaZulu-Natal earlier this month, Morolong said: “We have agreed that communication can no longer be an afterthought. It is an important function that must be enhanced through funding.”
Human Settlements Minister hands over housing units in Soweto
Human Settlements Minister Thembi Simelane has handed over some 197 housing units to beneficiaries at the Jabulani Parcel K Mega Project in Soweto.
The 197 homes are part of a project which will see the construction of 704 units.
The department said the project forms part of efforts to unblock legacy housing developments, accelerate the allocation of completed homes, and prevent unlawful occupation.
“The project had a bit of challenges in relation to electricity connection. The city…has been ready to move in beneficiaries but according to our policy, we need to move you in when there is electricity connectivity and water.
“It’s a mixed development use which will ultimately be accommodating close to 2400…including social housing, first home financing. We have done a demonstration with about eight families,” the Minister said.
She added: “We have had good work from our contractor who’s still on site, continuing with all the blocks.
“We hope these homes bring comfort, joy, dignity and security of tenure.”
Speaking to the beneficiaries, Gauteng MEC for Human Settlements Tasneem Motara sent appreciation to them for having been patient.
“I really want to thank all beneficiaries for being patient. Of all the projects we have in the province, Jabulani Parcel K is the one I get asked about every single week.
“But we said we are going to electrify so that you can take occupation. It has not been easy but…it’s a long process from planning to building and allocation. Beneficiaries of Human Settlements are very special; they are very patient…but today you have your house.
“You are not allowed to rent these houses to other people. If we find somebody in the house that is not the beneficiary, we are going to take them out, we will allocate the house, and you will not have a home. These houses are…supposed to make you a homeowner.”
“You are [also] not allowed to sell your house, it is illegal,” Motara said. – SAnews.gov.za
Corruption has a deeper effect on women, says Justice Deputy Minister
Deputy Minister of Justice and Constitutional Development Andries Nel has posited that corruption deepens inequality by exploiting existing gender power structures and disproportionately affects vulnerable groups, particularly women.
Nel delivered an address at the Stellenbosch University’s Symposium on Gender Inequality and Anti-Corruption, hosted by the university on Wednesday.
The symposium took place as South Africa commemorates the 70th anniversary of the historic 1956 march of 20 000 women to the Union Buildings, who stood up against apartheid pass laws.
“Corruption is not gender neutral because corruption does not take place in a socially neutral environment. It takes place within existing structures of economic, political and social power. Where those structures are characterised by significant gender inequality, corruption may reproduce or deepen that inequality.
“Conversely, unequal access to resources, institutions and decision-making can create forms of dependence and vulnerability that facilitate corruption. The relationship is therefore more complex than asking whether women suffer more from corruption than men,” the Deputy Minister said.
He noted that corruption redirects resources from public purposes to private interests, and a gender responsive analysis must ask who ultimately bears the costs when public services deteriorate.
“If access to a public service becomes dependent upon a bribe, political connection, personal relationship or some other improper consideration, a formally equal system may produce highly unequal outcomes. Those with resources may pay. Those with connections may circumvent the problem. Those without either may simply be excluded.
“Corruption must therefore be understood not only as a problem of legality or administrative efficiency, but also as a problem of substantive equality,” Nel stated.
From diagnosis to implementation
Nel noted that the Zondo Commission is a clear demonstration of the “systemic character corruption can assume”, adding that reforms borne from the report of that commission have recovered some R11 billion in stolen public funds.
On the ongoing Madlanga Commission, the Deputy Minister warned against prejudging matters, but added that “government cannot be indifferent to what is emerging”.
“Evidence before the Madlanga Commission has raised serious questions about aspects of IDAC’s [Investigating Directorate Against Corruption] own functioning and the exercise of its investigative mandate.
“These concerns have not been ignored by Government or by the leadership of the National Prosecuting Authority,” Nel stated.
The Deputy Minister described both commissions as part of an “evolving process of institutional learning”.
“The Zondo Commission required us to confront the consequences of institutional capture. The Madlanga Commission requires us to examine more closely the integrity of the institutions through which the State investigates, prosecutes and combats criminality and corruption.
“Both remind us that institutional reform cannot be a once-off event following a commission of inquiry.
“It must be a continuous process of building capacity, testing institutional arrangements against experience, identifying weaknesses and correcting them. A strong institution is not merely one with extensive powers. It is one capable of exercising those powers effectively, lawfully, professionally and accountably,” he noted.
Justice and Constitutional Development Minister Mmamoloko Kubayi announced a reset of IDAC, including a host of remedial activities to be carried out.
Since the revelations at the commission, IDAC Head Advocate Andrea Johnson has resigned from her position.
“Government established IDAC because South Africa needs effective specialised capacity to investigate serious corruption. That objective remains valid. The credibility of an anti-corruption institution depends not only upon the importance of its mandate; it also depends upon how that mandate is exercised.
“We must, therefore, be capable of doing two things simultaneously: strengthening the institutional capacity required to combat corruption, while insisting upon accountability where questions arise concerning the exercise of that capacity,” Nel insisted.
He called on all sectors gathered at the symposium and beyond to work with government to realise the constitutional ideal gender equality and accountability.
“Thirty years after the adoption of our Constitution, substantive equality and accountable government remain mutually reinforcing constitutional imperatives.
“Government has a responsibility to lead this work. However, building institutions that are more equal, accountable and resistant to corruption requires the active participation of all the sectors represented here,” Nel concluded. – SAnews.gov.za
South African women breaking barriers in science and technology
As South Africa marks Women’s Month, the achievements of women in science, technology, engineering and mathematics (STEM) offer a powerful reminder of the important role women continue to play in shaping the country’s future.
Across laboratories, universities, hospitals, research institutions and technology companies, South African women are making significant contributions to scientific discovery, innovation and the development of solutions that improve lives.
One example is Professor Liesl Zühlke, whose recent international recognition highlights the calibre of women scientists emerging from South Africa.
Zühlke, a paediatric cardiologist and researcher at the University of Cape Town, was named the 2026 laureate for Africa and the Arab States in the prestigious L’Oréal-UNESCO For Women in Science International Awards. She was officially honoured at UNESCO Headquarters in Paris on 11 June 2026.
Her work focuses on cardiovascular diseases in children, including rheumatic heart disease, a preventable condition that continues to disproportionately affect vulnerable communities. Her research demonstrates how scientific excellence can be translated into practical interventions that improve healthcare and save lives.
Zühlke is also Vice-President of the South African Medical Research Council’s Extramural Research and Internal Portfolio, Director of the Children’s Heart Disease Research Unit at UCT and a paediatric cardiologist at Red Cross War Memorial Children’s Hospital.
Her research extends beyond rheumatic and congenital heart disease to areas including HIV among adolescents and cardiac disease in women of childbearing age. Her achievements have earned her numerous national and international accolades, including the 2023 South African Women in Science Award and recognition as one of the leading international scholars in rheumatic heart disease research.
Her journey is part of a much broader story of women who are helping to advance South Africa’s scientific and technological landscape. From medical research and engineering to information technology, environmental science, astronomy and biotechnology, women are increasingly contributing to fields that have historically been dominated by men.
The growing visibility of women scientists is also important for the next generation. Recognition at the highest levels of science provides young girls with role models who demonstrate that careers in STEM are not only possible, but can have a meaningful impact on society.
For South Africa, investing in women in science and technology is about more than celebrating individual achievements. It is about creating opportunities for women to participate fully in research, innovation and decision-making, while ensuring that the country’s scientific talent reflects the diversity of its population.
As Women’s Month provides an opportunity to reflect on the progress made towards gender equality, the achievements of scientists such as Professor Zühlke demonstrate the strides South African women are making in STEM.
Their contributions serve as a reminder that when women are given the opportunity, resources and support to pursue scientific careers, they can help solve some of society’s most pressing challenges and contribute to a stronger, healthier and more innovative South Africa. – SAnews.gov.za
DSTI puts women at the centre of science and technology
The Department of Science, Technology and Innovation (DSTI) has announced the finalists for the 2026 South African Women in Science Awards (SAWiSA).
This comes as South Africa commemorates the 70th anniversary of the historic 1956 march of 20 000 women to the Union Buildings, who stood up against apartheid pass laws.
“Celebrated annually during Women’s Month, SAWiSA recognises and rewards excellence in science, technology and innovation (ST&I) by South African women. The awards also celebrate outstanding researchers and scientists, whose achievements inspire the next generation of women and girls to pursue careers in ST&I,” the DSTI said on Wednesday.
This year’s theme: “Placing Women at the Centre of Science, Technology and Innovation”, aligns with the department’s mantra of “Placing science, technology and innovation at the centre of government, education, industry and society”.
The theme underscores the critical role that women play in advancing scientific excellence, driving innovation and contributing to South Africa’s socio-economic development.
“The DSTI Fellowships have been renamed in honour of the late Prof. Shirley Keolebogile Motaung, one of South Africa’s most distinguished black women scientists and academics.
“The DSTI-Prof. Keolebogile Motaung Fellowships will be awarded to young women pursuing their master’s and doctoral degrees in recognition of their academic excellence and research potential,” the department said.
This year, the department is introducing a new look SAWISA to support the strategic commitment to place women at the centre of science, technology and innovation.
It strengthens the visibility of research excellence, reinforces SAWiSA’s role as a transformation instrument, and creates a recognisable platform through which awardees can inspire public participation in science, mentorship and future talent development.
The new look combines scientific symbolism, feminine strength and South African identity, and will be reflected in the logo, trophy and overall branding.
The winners will be announced at a gala dinner on 20 August 2026 at the NH Johannesburg Sandton Hotel.
Source: The Conversation – Africa – By Amanda Bisong, Policy Leader Fellow, School of Transnational Governance, European University Institute
In 2024, 25.1 million Africans were living in other countries on the continent. Labour migration has long been a defining feature of Africa’s economic landscape.
Migrant workers on the continent are concentrated in certain sectors: agricultural and manufacturing together absorb roughly a fifth of migrant labour. Most migrants hold medium-skilled jobs alongside high and low skilled occupations.
Global skill partnerships are agreements that link skills creation and skills mobility in a mutually beneficial way. Workers in countries of origin are trained in the skills that origin and destination countries need and are helped to go and work there legally. Destination countries fill labour shortages, origin countries gain skills and investment, and migrants get access to safer, more predictable pathways.
Yet, in practice, most of the partnerships involving destination countries outside the continent and African countries remain limited in scope and poorly attuned to the realities of mobility on the continent.
In Africa, the industries most reliant on migrant labour are regional and not highly formalised. They are not the high-income international corridors that most existing global skills partnerships are designed around. For example, while skills partnerships exist for skilled IT workers between Nigeria and Lithuania, most African migrant workers to other destinations on the continent work in manufacturing and agriculture.
I argue that what is missing is a skills and labour system that provides structure, recognition and protection. For skill partnerships to meet the needs of African countries, there should be a regional mobility track alongside the traditional domestic and international pathways.
Source: SWP 2025
Bilateral partnerships
Existing global skills partnerships involving African countries tend to follow a pattern: a bilateral agreement between one African country and a high-income destination, often in Europe.
These arrangements typically focus on training workers in specific sectors – healthcare, construction, information technology – with the expectation that some trainees will migrate while others remain and contribute locally.
Source: Salvo, 2022
While bilateral initiatives do achieve some of their stated objectives, they have weaknesses.
First, they ignore intra-African mobility patterns – 80% of African migration occurs within the continent.
For example, movement between Burkina Faso and Côte d’Ivoire or between Uganda and Kenya is common and economically significant. Bilateral arrangements with distant partners do not support or formalise these flows.
Second, bilateral arrangements tend to create a “two-track” system. One track is for domestic skill development and another is for migration to a specific country. This model overlooks workers who might prefer, or benefit from, opportunities closer to home.
According to an Afrobarometer survey, almost 22% of respondents wanted to move to another country within their region or on the African continent.
Third, these agreements lack scalability and flexibility. It takes resources to reach them and put them in place, and each agreement must be tailored to the needs of the partner countries. This makes it difficult to respond to shifting labour market demands. Development partners often say it’s hard to scale up the initiatives.
Finally, without coordination at the regional level, multiple bilateral agreements can create fragmented standards and qualifications, and administrative inefficiencies.
The addition of a regional track recognises that development does not only flow one way.
The benefits of a regional mobility track
A regional track offers several distinct advantages.
Formalising existing mobility
People are already migrating within Africa, often through informal channels. A regional track would formalise this mobility, standardise training and qualifications, and cement legal protections for workers. Policymakers should make existing corridors safer and more productive.
Enhancing worker protection
Informal migration exposes workers to exploitation, poor working conditions and lack of legal recourse. A structured regional pathway would ensure labour standards, social protection and common rights.
Addressing regional skills shortages
Many African economies face skills gaps in healthcare, construction and technical trades. A regional track would allow countries to share human capital more efficiently, matching supply and demand within the continent.
For example, shortages in the healthcare sector in African countries could be partially addressed, provided that training and certification systems were aligned.
Addressing brain drain
One of the criticisms of traditional skills partnerships is the potential for “brain drain”. A regional track keeps talent within the continent.
This does not eliminate outward migration but creates a more balanced ecosystem of mobility.
Africa is not starting from scratch. Several continental and regional frameworks already provide a foundation for a regional skills partnership track.
The African Union has developed the Free Movement Protocol, facilitating visa-free travel and residence across member states.
The African Continental Free Trade Area and regional economic communities, such as the Economic Community of West African States and the East African Community, create a more integrated economic space and potentially increase the demand for cross-border labour mobility.
Effective migration policy is not about imposing new patterns of movement, but about working with existing ones, making them safer, fairer and more beneficial for all. A three-track model does that.
Rather than treating international migration as the only destination for trained workers, the model recognises that development can also come from movement between African countries.
It expands opportunity without forcing choices, strengthens regional integration, and offers a grounded, context-sensitive approach to mobility.
Getting this right begins with acknowledging the sectors absorbing most African migrant labour on the continent: agriculture, manufacturing and medium-skilled level jobs, and designing policies that match this reality.
– Africans migrate for jobs mostly within the continent: why regional skills partnerships are needed – https://theconversation.com/africans-migrate-for-jobs-mostly-within-the-continent-why-regional-skills-partnerships-are-needed-288149
Source: The Conversation – Africa – By Vidya Diwakar, Deputy Director, CPAN; Research Fellow, IDS, Institute of Development Studies
Multiple and often overlapping crises such as floods or drought due to climate change, violent conflict and economic instability are creating new forms of vulnerability. Collectively they’re known as a polycrisis. These have severe effects on countries in sub-Saharan Africa with high poverty levels where weak institutions and limited public resources make it harder to respond effectively.
Vidya Diwakar is a senior research fellow at the Institute of Development Studies and the deputy director of the Chronic Poverty Advisory Network. Her research focuses on poverty dynamics, violent conflict and intersecting crises, gender and education. She answers questions about her book Poverty in Polycrisis: Dynamic Pathways for Lasting Change.
What gap does your book seek to fill about understanding poverty?
The world now experiences increasingly interconnected crises with climate-related disasters, economic instability and violent conflict. These crises often overlap, and their effects build up to create new forms of vulnerability, making it harder for people to get out of poverty.
Consider the story of Aisha (anonymised), a woman our team interviewed in Borno, Nigeria. Aisha was once a successful farmer. But she now finds herself trapped in poverty after a series of crises. In 2013, Boko Haram killed her husband and three of her children, left her injured, and forced her and her remaining family to flee their village to a nearby settlement for internally displaced people.
Following this, Nigeria’s “cashless policy”, which restricted cash withdrawals to curb corruption, led to cash shortages. Aisha was forced to rely on credit-based sales for the charcoal selling business she had set up, leaving her without an income. The poor rains in Borno during the same year further reduced the ability of her remaining five children to support her financially.
Today, Aisha remains in the settlement camp, trapped in poverty.
In the world we live in, Aisha’s story is far from the exception as more people find themselves trapped in poverty due to compounding crises.
While there is extensive work on poverty and its drivers, the book focuses on how crises interact. The research draws on evidence from 15 high-poverty countries in regions of Africa and Asia. It examines how polycrisis is pushing people already in poverty into deeper deprivation. It also, surprisingly, shows how some people are able to escape poverty in these challenging contexts.
What about the intersection of climate-related disasters, economic instability and conflict?
When climate-related disasters, economic instability and violent conflict overlap, their effects mount up, making recovery much more difficult.
For example, a one-off drought might force a smallholder to sell some of their livestock or other assets. But they may be able to rebuild their business once the rains have come. However, if the drought is followed by high price inflation or broader economic volatility and more regular periods of drought, that might worsen the family’s food insecurity, push them into debt and make it harder to rebuild their income and assets.
These compounding forms of vulnerability have severe impacts in countries in sub-Saharan Africa with high poverty levels, weak institutions and limited public resources. Those already in poverty are being pushed deeper. And more people are falling into poverty for the first time and for longer periods of time.
The book also identifies strategies through which some people are escaping poverty. These pathways include relying on environmentally sustainable agricultural practices, diversification into off-farm livelihoods, and continuous economic and social adaptation to changing circumstances.
What about the role of governments and donors?
Our findings point to the fact that efforts and initiatives by governments and donors often reinforce harm, in three ways.
First, in response to crises, governments have adopted austerity measures. Nigeria’s fuel subsidy removal, for example, was accompanied by very little social assistance. This pushed many poor and vulnerable households deep into poverty.
Third, there has been a decline in international aid. This will have severe consequences for poverty across future generations.
What are your recommendations?
The book recommends recognising how crises interact rather than addressing them in isolation.
Policies must must understand the challenges faced by poor and vulnerable people, and avoid causing harm.
This may sound obvious. But crisis responses often fail to account for these impacts.
Integrated policy responses could include cash transfers and social protection systems, early warning systems and other forms of disaster preparedness extended to rural and remote communities.
Peacebuilding activities can also help address root causes of both poverty and violent conflict.
Creating inclusive economic opportunities is important. Most people escape extreme poverty through “growth from below”: household-level strategies rather than top-down interventions alone. Yet government strategies seem to be going back to trickle-down economics.
Support from the international community remains important. This requires recommitting to predictable aid flows, especially to the poorest countries. Governments also have to expand their ability to raise and manage their public revenues, for example through taxes.
Complementary approaches, including debt restructuring, are important in the context of tightened aid budgets. They can ease fiscal pressures and help governments maintain pro-poor domestic investments.
What role can NGOs and the private sector play?
Non-state actors can contribute by supporting integrated responses that complement government action. These can include:
strengthening community-level resilience
supporting disaster preparedness at national and local levels
enabling livelihood adaptation
helping address vulnerabilities that emerge from overlapping crises.
Beyond service delivery, civil society organisations help ensure that responses are informed by people’s actual experiences. They can amplify the voices of marginalised groups in decision-making.
NGOs and community-based organisations can also act as intermediaries between communities and governments.
The polycrisis reveals how interconnected vulnerabilities have become today. Policy responses need to equally strive to be more interconnected. Collaboration across government agencies, international organisations and civil society is essential to create pathways out of poverty.
– How can governments tackle poverty when climate change, conflict and economic shocks hit all at once? – https://theconversation.com/how-can-governments-tackle-poverty-when-climate-change-conflict-and-economic-shocks-hit-all-at-once-288292
Today in New Alamein City, President Abdel Fattah El-Sisi met with Prime Minister Dr. Mostafa Madbouly, Minister of Electricity and Renewable Energy Eng. Mahmoud Esmat, and Chairman of the Board of Directors of Concord for Engineering and Contracting Eng. Ahmed Elabd.
Spokesman for the Presidency Ambassador Mohamed El-Shennawy stated that the meeting included a review of the latest developments in implementing the national strategy to expand renewable and new energy projects. The strategy aims to increase the share of renewable energy to 45% of total generated electricity by 2028, in line with the state’s policy of relying on new and renewable energy sources as part of the energy mix. This requires expanding the use of battery-based electricity storage technologies to secure the national grid and ensure the stability and continuity of electricity supply. In this context, Dr. Mahmoud Esmat noted that total investments in the electricity, new energy, and renewable energy sectors have reached approximately EGP 5 trillion since 2014.
The meeting also reviewed the role played by international partners in providing technical support and financing for renewable energy projects, contributing to strengthening Egypt’s position as a regional energy hub and a center for the manufacture of electrical equipment. In this regard, President El-Sisi stressed the need to support all types and models of partnerships, particularly those involving locally manufactured equipment, especially energy-storage batteries.
The president further emphasized the importance of supporting the localization of industries related to new and renewable energy, which constitute a fundamental pillar for strengthening energy security and advancing the green transition.
The Minister of Electricity presented the efforts being made in industries related to the electricity, new energy, and renewable energy sectors. In this context, President El-Sisi directed that local manufacturing be developed in the black sands industry, related value-added industries, fertilizers, and rare-earth elements.
– on behalf of Presidency of the Arab Republic of Egypt.
Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, today announced that it has successfully raised CHF 350 million through a 5-year Digital Bond. This milestone transaction makes the Corporation the first African institution to issue a Digital Bond listed, traded and settled on a regulated digital exchange. The issuance is also the largest digital bond ever issued in the Swiss Franc market, reinforcing AFC’s leading role in international capital markets.
The bond was priced at a coupon of 1.4925%, efficiently delivering funding within the Corporation’s USD 500 million benchmark issued in June 2026 (https://apo-opa.co/45iWWGr), and demonstrating AFC’s ability to combine innovative funding structures with competitive pricing. Efficiently timed amidst the ongoing geopolitical uncertainty, the transaction benefited from constructive investor sentiment and AFC’s dual investment grade rating- ‘A’ with a positive outlook by S&P, and A3 with a stable outlook by Moody’s.
Attracting a high-quality investor base, the issuance had approximately 90% of demand coming from Swiss domestic investors and 10% from international accounts. Additionally, banks and financial services institutions represented the largest investor group, accounting for 57% of the orderbook, followed by asset managers at 37%, while hedge funds accounted for 6%. The strong investor demand and quality of the book reflect continued market confidence in AFC’s strong credit profile. This historic issuance further strengthens the Corporation’s presence in the Swiss capital markets and marks AFC’s fourth and largest Swiss Franc issuance to date, following its CHF 150 million Green Bond issued in 2020 – the Corporation’s inaugural Green Bond.
Samaila Zubairu, President & CEO of AFC, said: “This transaction is about far more than achieving competitive pricing. It marks another significant milestone in AFC’s funding journey and underscores the confidence global investors continue to place in our strategy, credit strength, and development impact. As we continue to diversify and innovate our funding approach, expanding the range of capital solutions available to AFC will remain central to mobilising long-term financing at scale and delivering on our mandate to accelerate Africa’s industrialisation and economic transformation.”
Banji Fehintola, Executive Board Member and Head of Financial Services at AFC, said: “This transaction is a proud milestone for our funding programme. Pricing the largest digital bond ever issued in the Swiss Franc market reflects not only the strength of AFC’s credit but the depth of trust that Swiss and international investors have placed in our strategy over time. The digital format of this bond is not an end in itself but a signal of our commitment to being at the frontier of innovation in the capital markets as we continue to diversify and strengthen AFC’s funding base to support Africa’s development”
Issued under AFC’s US$5 billion Global Medium-Term Note Programme, the digital bond is structured as a tokenized security using Distributed Ledger Technology (DLT), with ownership recorded on a regulated digital register and settlement taking place through a regulated digital market infrastructure. The bond is admitted for trading and listing on the SIX Swiss Exchange and deposited with SIX Digital Exchange, the clearing and settlement system operated by SIX SIS AG. The proceeds will support AFC’s general funding requirements and strengthen the Corporation’s capacity to finance transformational infrastructure across Africa.
The transaction was arranged by Commerzbank AG (Technical Lead) and Deutsche Bank AG London Branch, acting through the Deutsche Bank AG Zurich Branch.
– on behalf of Africa Finance Corporation (AFC).
Media Enquires:
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 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 power, natural resources, heavy industry, transport, and telecommunications. AFC has 48 member countries and has invested US$18.5 billion across Africa since inception.
