Category: Africa

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Afreximbank acts as global coordinator and mandated lead arranger for $1.6bn facility for Suriname’s Staatsolie


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African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has acted as global coordinator and joint mandated lead arranger for a senior secured term loan facility amounting to US$1.6 billion, in favour of Staatsolie Maatschappij Suriname N.V. (Staatsolie), Suriname’s state-owned energy company, in a major boost to the country’s GranMorgu upstream offshore oil project.

Afreximbank, Banco Latinoamericano de Comercio Exterior, S.A. (Bladex), along with another major international bank and Staatsolie signed the agreement on the 14th of May 2025. Perella Weinberg acted as an advisor to Staatsolie on the transaction.

According to the terms of the agreement, the proceeds of the facility will support Staatsolie in partially refinancing existing debt and funding its 20 per cent working interest in the GranMorgu upstream offshore oil project.

The transaction, the first syndicated loan for which Afreximbank has been mandated on in the Caribbean region, also represents the largest project financing transaction in Suriname’s history and paves the way for the country’s initial offshore oil production by mid-2028.

Capital investments in the project are expected to exceed US$12 billion, with Staatsolie contributing 20 per cent, or US$2.4 billion. The expected revenue generation, depending on oil price, is projected at over US$26 billion for Staatsolie and the Government of Suriname over the operational life, significantly boosting economic development.

The project, which stands out for its low-carbon design, featuring a fully electric floating production, storage, and offloading unit with a production capacity of 220,000 barrels per day, will more than double Staatsolie´s production, providing Suriname with royalties and dividends.

Commenting on the transaction, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, said that it will significantly transform the Surinamese economy. “Afreximbank is most pleased to have played a pivotal role in arranging this financing for Suriname’s Staatsolie. It marks a significant milestone in the Bank’s interventions in the Caribbean and a firm statement of intent by the Bank to support investments in strategic programmes/projects that are consequential to the transformation of the Surinamese economy. Beyond this investment, the Bank is supporting initiatives that will catalyse local participation in the country’s oil and gas sector with the aim of ensuring maximum benefits from the natural resource accrue to the indigenes of Suriname and the larger Caribbean.”

Staatsolie is engaged in exploration, production, refining, retail fuel distribution and power generation. Staatsolie also has a working interest in two gold projects in Suriname. It seeks to develop energy resources to maximise the long-term value for Staatsolie and Suriname, energizing a bright future for Suriname

Annand Jagesar, Managing Director of Staatsolie said: “We have built a solid foundation for Staatsolie to participate in GranMorgu and possible future projects and are embarking on a new phase of transformational growth for the company and the country.”

BLADEX, a multinational bank founded in 1979, provides financial solutions to companies and investors doing business in Latin America. It is headquartered in Panama City and has five offices in Latin America and the United States.

Distributed by APO Group on behalf of Afreximbank.

Media Contact:
Vincent Musumba
Communications and Events Manager (Media Relations)
Email: press@afreximbank.com

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About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

For more information, visit: www.Afreximbank.com

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Eritrea: Workshop on Reducing Environmental Pollution

Source: Africa Press Organisation – English (2) – Report:

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A workshop aimed at addressing health problems affecting humans and livestock, as well as environmental pollution caused by unsafe waste management and plastic use, was conducted on 13 June in Barentu, Gash Barka Region.

Mr. Abubeker Osman, Director General of Agriculture and Land in the region, stated that although directives have been issued at the national level to mitigate the impact of plastic use on the environment, plastic products are still widely used by the public. He noted that the workshop aimed to review the measures taken so far and to discuss further actions needed to ensure environmental safety.

Mr. Abraha Gebreamlak, head of the Agriculture branch, provided an extensive briefing on environmental resources, their benefits, and the challenges related to solid and liquid waste management. He highlighted the coordinated efforts in areas such as Teseney and Akordet, where administrations and communities are working together to eliminate hazardous wastes, including plastic. He stressed the need to implement the existing national guidelines.

Ambassador Mahmud Ali Hirui, Governor of the region, emphasized that environmental pollution caused by plastic is becoming increasingly alarming. He called for the establishment of a committee involving all administrations and relevant institutions to assess current waste management practices and plastic use, and to propose concrete measures for improvement.

Participants conducted extensive discussions on the issues raised during the workshop and adopted various recommendations.

– on behalf of Ministry of Information, Eritrea.

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Egypt: President El-Sisi Follows Up on Martyrs and Victims Fund Activities and Initiatives

Source: Africa Press Organisation – English (2) – Report:

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Today, President Abdel Fattah El-Sisi met with Chairman of the Board of Directors of the Martyrs and Victims Honoring Fund, Major General El-Sayed El-Ghaly, and the Fund’s Executive Director, Major General Ahmed Al-Ashaal. The fund honors the martyrs, as well as victims, missing and the injured of military and security operations and terror attacks and their families.

Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said the President was briefed on the progress of the Fund’s activities and the services extended to beneficiaries, including the families of martyrs, victims, and those injured in military, terrorist, and security operations, in coordination with relevant state entities.

President El-Sisi was also updated on the Fund’s upcoming initiatives. The President emphasized the need to further improve the services offered by the Fund, develop its resources, and foster its management mechanisms to strengthen its ability to respond to the needs of its beneficiaries.

The President approved the launch of the “Egypt is with You” initiative for underage children of martyrs and victims from the Armed Forces, Police, and civilians. This initiative focuses on investing the allocated funds to ensure the highest investment return for these minor children when they reach legal age, in coordination with the Central Bank, the Sovereign Fund of Egypt, and Misr Insurance Company.

President El-Sisi also approved the inclusion of martyrs and injured officers and other ranks from the Armed Forces in special operations, as well as civilian martyrs in the war effort during previous wars, under the umbrella of the Fund. The President stressed that Egypt will never forget the sacrifices of its loyal sons, and that fitting tributes are being offered to the martyrs and injured who sacrificed their lives for the nation.

Furthermore, the President directed the Ministry of Higher Education and Scientific Research to take the necessary measures to determine exemption and discount rates for various scholarships from public, private, and national universities, as well as private higher institutes, for the Fund’s beneficiaries, along with the method and mechanisms for implementation.

The President affirmed that the Egyptian people hold deep respect and appreciation for all their sons, the martyrs and those injured in military, terrorist, and security operations, who paid a heavy price for the Egyptian people to live in security and prosperity.

– on behalf of Presidency of the Arab Republic of Egypt.

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Deputy President to lead 2025 Youth Day commemoration

Source: South Africa News Agency

Deputy President Shiphokosa Paulus Mashatile will, on behalf of President Cyril Ramaphosa, deliver the keynote address at the 2025 Youth Day commemoration and career exhibition event, to be held in the North West Province.

Hundreds of young people are expected to gather on Monday, 16 June 2025, at the North West University (NWU) Rag Farm Stadium, Potchefstroom in the JB Marks Local Municipality.

“As we commemorate this year’s Youth Day, we do so fully aware of the challenges which continue to confront today’s youth, one of them being youth unemployment.  Hence this youth month, Government is putting a strong emphasis on the importance of strong collaboration by all implementing partners on  education, skills and economic development in order to link youth with education and economic opportunities to address youth unemployment in our country,” the Deputy President said on Sunday.

This year’s National Youth Day Commemorative events are taking place are held under the theme, “Skills for the Changing World – Empowering Youth for Meaningful Economic Participation.”

This is a call to all government entities and its strategic partners to accelerate and enhance meaningful interventions in bridging the gap between skills development programmes and services available for access by youth to realise economic gain.

In South Africa, June 16 has been declared a National Youth Day due to the active role and participation of young people in the liberation struggle, noting specifically the student uprising of 16 June 1976. 

The 1976 uprising raised the political awareness and introduced a renewed sense to protest against the oppressive apartheid regime. The peaceful 1976 youth demonstrations were met with brutal force from the apartheid regime, resulting in the tragic loss of innocent lives, including that of Hector Pieterson, who became the face of the brutality worldwide. 

To date, not only does South Africa continue to pay homage to the youth of 1976, but the country also recognises and applauds the greatness of today’s youth as they make up 34% of South Africa’s total population. 

During the Youth Day Commemorative event, Deputy President Mashatile will be accompanied by the Minister of Sport, Arts and Culture, Gayton McKenzie, Minister in the Presidency responsible for Women, Youth and Persons with Disabilities, Sindisiwe Chikunga, Premier of the North West Province, Lazarus Mokgosi, the Acting Chief Executive Officer of the National Youth Development Agency, Mafiki Duma, Mayors, senior government officials and Young Trailblazers. –SAnews.gov.za

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SA completes actions to exit greylist

Source: South Africa News Agency

The Financial Action Task Force (FATF) has confirmed that South Africa has substantially completed all 22 recommended action items outlined in the Action Plan adopted when the country was placed on the organisation’s grey list in February 2023.

South Africa was placed on the FATF grey list due to deficiencies in its anti-money laundering and counter-terrorism financing (AML/CFT) regime.

During its plenary session held in Strasbourg, France, the FATF made the initial determination that South Africa has substantially completed its action plan and warrants an on-site assessment. The on-site assessment will be to verify that the implementation of AML/CFT reforms has begun and is being sustained, and that the necessary political commitment remains in place to sustain implementation in the future. 

According to the National Treasury, the completion of the Action Plan paves the way for the final step before the FATF can delist South Africa, which is an on-site visit to South Africa by the FATF Africa Joint Group (JG).

A statement by FATF on (Jurisdictions under Increased Monitoring – 13 June 2025) noted that South Africa has undertaken a range of key reforms, including demonstrating a sustained increase in investigations and prosecutions of serious and complex money laundering and the full range of [terror financing] TF activities in line with its risk profile; and updating its TF Risk Assessment to inform the implementation of a comprehensive national counter financing of terrorism strategy.

The National Treasury emphasised that the improvements to South Africa’s AML/CFT regime are particularly important for South Africa, given the legacy of state capture, one element of which was that law enforcement and prosecuting institutions were deliberately weakened. 

“Improvements in these domains are critical not just for getting off the greylist, but for strengthening the fight against crime and corruption, and for contributing to the integrity of the South African financial system. Exiting the FATF greylist is a significant step forward as South Africa continues to improve and strengthen its supervisory and criminal justice systems,” National Treasury said on Friday.

The on-site visit will take place before the next FATF Plenary, and, if the outcome of the visit is positive, the FATF will delist South Africa from the greylist at its next Plenary in October 2025. Preparations for the on-site visit have commenced.

During this visit, the JG will confirm the country’s ongoing commitment in the implementation of the country’s fight against money laundering, terror financing and other financial crimes.

“National Treasury commends the efforts and commitment of the law enforcement entities, especially the Directorate for Priority Crime Investigation (DPCI) of the South African Police Service, the State Security Agency, and the National Prosecuting Authority (NPA), for the sustained increase in investigations and prosecutions of serious and complex money laundering and terror financing activities. 

“This made it possible for South Africa to secure the upgrades of the last two remaining action items, often considered to be the most difficult, in the current reporting cycle,” National Treasury said.

South Africa also commended Mali and Tanzania, who were delisted from greylisting by the FATF Plenary. 

“We also congratulate Nigeria, Mozambique and Burkina Faso, who like South Africa, were deemed to have substantially completed their action plans, and for whom on-site assessments were also approved.

“National Treasury pays tribute to the late Advocate Rodney de Kock of the NPA, who played a leading role in preparing the groundwork for South Africa to address the action items, but sadly passed away in January 2025.” 

The South African Reserve Bank (SARC) has welcomed the confirmation by the Financial Action Task Force’s (FATF) that South Africa has completed all 22 of its action items.

“This is a significant step forward – but not the time for complacency,” the SARB said on Saturday.-SAnews.gov.za

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United Nations Mission in South Sudan (UNMISS) boosts the capacity of communities in Uror, Jonglei, to create a safe and secure environment for all

Source: Africa Press Organisation – English (2) – Report:

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While the residents of Uror Country continue to be plagued by cattle raids, revenge killings, and the mobilization of armed youth, the region has become a major destination for displaced families seeking to return and rebuild their lives.

This makes efforts to strengthen protection of civilians more important than ever and is why peacekeepers serving with the United Nations Mission in South Sudan provided intensive training for 30 local leaders, members of organized forces, civil society groups and the displaced communities themselves.

“The training enhanced understanding among key stakeholders, including traditional chiefs, the armed forces, police, youth and women about their roles and how to prevent conflict early, particularly through dialogue, to avoid the situation deteriorating into a much bigger problem,” explained Uror County Commissioner, James Gatkhor Gatluak.

Civil society representative, Nyaluol Chol, stressed the need for civilians to be protected from ambushes while travelling along roads as well as in particular villages where armed attacks have been prevalent.

“Women are the backbone of our families and have an important role in engaging positively and effectively to protect them as well as provide a more secure environment for our whole community. That is what we are committed to.”

The focus of the training was on understanding the drivers of conflict, how to monitor and report threats, strengthening early warning systems to prevent the outbreak of violence, and creating a safe environment for host communities as well as returnees. It also addressed the need for improved coordination between security forces and community leaders.

“We shared new ideas about the protection mechanisms that are being used to protect civilians,” said UNMISS Protection, Transition and Reintegration officer, Peter Wiseh. “While it is the primary role of the Government of South Sudan to provide security for its people, we are here to reinforce and enhance those efforts through direct action as well as capacity building.”

– on behalf of United Nations Mission in South Sudan (UNMISS).

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Innovative water treatment technology to address KZN water challenges

Source: South Africa News Agency

Deputy Minister of Water and Sanitation, David Mahlobo, has commended the Water Research Commission’s (WRC) ongoing investment and efforts to provide innovative technological solutions to water challenges through the launch of the Vortex Settling Basin (VSB).

Deputy Minister of Water and Sanitation, David Mahlobo, has commended the Water Research Commission (WRC) for its continued investment in innovative technologies to address South Africa’s water challenges.

A VSB is a type of water treatment system that utilizes a vortex flow pattern to remove sediments, suspended solids, and other pollutants from water. 

It operates on the principle of centrifugal force, allowing heavier particles to settle at the bottom of the basin while cleaner water is discharged from the top. 

The VSB effectively removes heavy sediment particles through its vortex action, causing the sediments to settle in a cone shape. These particles can then be extracted by gravity, while the clearer water flows out over a discharge weir. 

“This technology will help the municipality with an energy-efficient solution for sediment removal, ensuring a reliable water supply with minimal maintenance. The vortex is at 90% efficiency, which means there will be more water to treat, thus increasing water security in the area. The technology will also ensure good water quality because the turbidity of water will be addressed,” the Deputy Minister said.

Mahlobo made the remarks at the recent official handover and launch of the VSB demonstration at the Thukela River abstraction works in Middledrift, Nkandla, KwaZulu-Natal.

The launch marked the beginning of a demonstration phase, during which the system’s effectiveness will be closely monitored for potential wider implementation. 

The VSB has a pump capacity of 8.6 mega-litres per day and will benefit a wide range of stakeholders, particularly those reliant on surface water abstraction for agricultural, municipal, and industrial purposes. 

The Deputy Minister assured community members that the municipality has gained a cost-effective technology, to be used also to facilitate more desilting by removing sedimentation in the dams. 

He highlighted that Madungela was chosen for the demonstration for several reasons, including the large contributing catchment downstream of the existing Spioenkop Dam, resulting in high sediment concentrations; the pump station abstracts raw water directly from the Thukela River and has no gravel trap, and current sediment extrusion is by hydro-cyclones; therefore, a good comparison with VSB performance will be possible. 

Mahlobo urged the community to protect the VSB as it will be beneficial to them. 

WRC Chief Executive, Dr Jennifer Molwantwa, emphasised that the work done by the commission has important implications, especially for rural communities who will now have access to reliable potable water. 

“This kind of work is critically important for the WRC, as it demonstrates our ability to translate theoretical scientific innovations into practical applications—not just at laboratory scale, but also in real-world settings. 

“We are hopeful that this innovation will culminate in an economy where all municipalities and bulk water suppliers recognise and adopt it as a groundbreaking technology that has the potential to significantly improve the efficiency and capacity of water treatment systems across the country—particularly benefiting rural communities, where access to reliable and sustainable water services is often limited,” Molwantwa said. –SAnews.gov.za

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Egypt: President El-Sisi Meets the Managing Director of the International Finance Corporation

Source: Africa Press Organisation – English (2) – Report:

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Today, President Abdel Fattah El-Sisi met with Managing Director of the International Finance Corporation (IFC), Mr. Makhtar Diop. The meeting was also attended by Vice President and General Counsel for IFC, Mr. Ethiopis Tafara, and Minister of Planning, Economic Development, and International Cooperation, Dr. Rania Al Mashat.

Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said President El-Sisi appreciated IFC’s cooperative relations with Egypt over the past years. The President emphasized Egypt’s keenness on further strengthening this collaboration, particularly in light of the ongoing regional developments, which create formidable challenges on development programs. Mr. Diop agreed with the President and stressed the Corporation’s commitment to its fruitful cooperation with Egypt.

The meeting explored opportunities for joint efforts to enhance investment flows into Egypt and to facilitate financing for the private sector. President El-Sisi confirmed the importance of providing competitive financing rates to reduce costs. He noted that Egypt is adopting a series of policies as well as structural and economic reforms aimed at maintaining financial and economic stability. The President affirmed that the state is committed to boosting the private sector’s role in economic activity and development and is working to bolster private sector confidence in the economy by offering numerous tax and customs facilities to reduce costs and streamline procedures. Additionally, the government is launching initiatives aimed at increasing exports, developing productive and service activities, and expanding public-private partnership projects.

The IFC’s Managing Director lauded Egypt’s economic reform measures, which enhance investor confidence and improve the investment climate. He asserted that joint programs between both parties will continue to further advance cooperation and support the competitiveness of the Egyptian economy.

– on behalf of Presidency of the Arab Republic of Egypt.

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Egypt: President El-Sisi Speaks with President of Cyprus Christodoulides

Source: Africa Press Organisation – English (2) – Report:

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Today, President Abdel Fattah El-Sisi received a phone call from President of the Republic of Cyprus, Nikos Christodoulides.

Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said the call focused on regional developments. President El-Sisi emphasized Egypt’s categorical rejection of any expansion of the cycle of conflict in the region, underscoring the crucial importance of ending Israel’s military operations across all regional fronts. President El-Sisi warned that the continuation of the current approach will inflict grave and formidable harm on all peoples of the region, with no exception.

President El-Sisi affirmed the vital necessity for the international community to assume a more effective role in compelling regional parties to act responsibly. The President asserted that peaceful solutions remain the sole viable means to ensure security and stability in the region. President El-Sisi underlined the urgent need to resume the US-Iranian negotiations, under the auspices of the Sultanate of Oman, which represents the best solution to the current tension. President El-Sisi reiterated Egypt’s unequivocal stance with regard to the imperative for establishing a Middle East free of weapons of mass destruction, encompassing all states of the region.

President El-Sisi emphasized that a just and comprehensive resolution to the Palestinian issue remains the sole guarantor for achieving enduring peace and stability in the Middle East. This necessitates an immediate ceasefire in the Gaza Strip, the release of hostages and detainees, the establishment of an independent Palestinian State along the June 4, 1967 borders, with East Jerusalem as its capital, as well as providing security for all peoples of the region.

– on behalf of Presidency of the Arab Republic of Egypt.

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Le Président burundais rassure sur l’équilibre démocratique post-élections


Au lendemain de la publication des résultats provisoires des élections législatives et communales par la CENI( Commission Électorale Nationale Indépendante), le Chef de l’Etat Son Excellence Evariste a animé, ce samedi à Gitega, un point de presse sur ces élections tenues en date du 5 juin 2025. Il a rassuré la population burundaise que le pays reste sur la voie démocratique malgré les résultats qui attribuent une large victoire au parti CNDD-FDD.

Répondant aux questions des journalistes, le Numéro Un burundais a réagi aux inquiétudes concernant un possible basculement vers le monopartisme. Face à ces préoccupations, le Président de la République a tenu à rassurer la population en expliquant que la vitalité démocratique ne se mesure pas uniquement au nombre de partis politiques présents sur la scène, mais surtout au respect des droits de l’homme et à la liberté d’expression garantie à tous les citoyens.

« Ce n’est pas la présence de nombreux partis qui montre que la démocratie est enracinée, mais bien le respect des libertés fondamentales », a-t-il souligné.

Le Président de la République, qui avait salué le comportement des acteurs politiques depuis l’ouverture de la campagne jusqu’à la clôture du vote, a tenu a rassuré ceux qui n’ont pas été élus, leur rappelant que ce n’est pas un rejet personnel et qu’ils restent des acteurs essentiels de la nation. Il les a plutôt appelés à œuvrer ensemble pour un Burundi uni et prospère.

Le Chef de l’Etat Burundais indique par ailleurs que les requêtes ou contestations doivent être dûment motivées et accompagnées d’informations précises sur le lieu, le bureau de vote concerné et la nature des irrégularités constatées afin que des enquêtes puissent être menées.

Il a toutefois mis en garde contre la diffusion de mensonges et d’exagérations en soulignant que de tels actes sont perçus comme une tentative de semer la confusion ou d’inciter à la révolte au sein de la population et qu’ils sont passibles de sanctions prévues par la loi.

Le Chef de l’État a également saisi cette occasion pour assurer que le CNDD-FDD gouvernera avec responsabilité, en tenant compte et en respectant les opinions des autres forces politiques. Il a ainsi appelé à l’unité et à la collaboration pour le bien-être de toute la nation.

Le Président Evariste Ndayishimiye a enfin tranquillisé que, malgré la majorité obtenue par le parti CNDD-FDD, les critères ethniques ou d’appartenance politique ne seront pas pris en compte dans l’attribution des postes. Il a insisté sur le fait que seules la compétence, l’intelligence et le sens du devoir guideront les choix.

‘‘Nous avons besoin d’hommes et de femmes vaillants et compétents pour relever notre pays’, a-t-il déclaré.

Distribué par APO Group pour Présidence de la République du Burundi.