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June 17, 2026

Qatar Reaffirms Human Dignity as a Fundamental Principle of Its Health Policies

Source: Government of Qatar

Geneva, June 17, 2026

The State of Qatar affirmed that safeguarding human dignity constitutes a fundamental principle of its health policies, based on its firm belief that the enjoyment of the highest attainable standard of physical and mental health is a right guaranteed to everyone without discrimination.
This came in the statement of the State of Qatar delivered on Wednesday by Second Secretary at the Permanent Mission of the State of Qatar to the United Nations Office in Geneva, Hamad Mohammed Al Suwaidi, during the interactive dialogue with the Special Rapporteur on the right to health, as part of the 62nd session of the Human Rights Council being held in Geneva.
In its statement, the State of Qatar stressed its continued efforts to develop a comprehensive, people-centered healthcare system that ensures access to high-quality health services while respecting privacy, autonomy, informed consent, and equality in access to healthcare.
Al Suwaidi noted that the State of Qatar attaches special importance to the underlying determinants of health, including social, economic, and environmental factors, and works to strengthen social protection and improve quality of life in a manner that positively reflects on the health of all members of society.
He explained that the Patients’ Rights and Responsibilities Charter, adopted by Qatar’s Ministry of Public Health, sets out a comprehensive framework for healthcare that guarantees patients access to safe, high-quality care without discrimination, while preserving their dignity and privacy.
He also noted that the charter obliges patients to cooperate with medical staff and respect the regulations of healthcare facilities.
He reaffirmed the State of Qatar’s commitment to cooperating with the international community to promote the right to health and safeguard human dignity, ensuring that no one is left behind.

June 17, 2026

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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June 17, 2026

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

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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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June 17, 2026

Prime Minister and Minister of Foreign Affairs Receives Phone Call from Italian Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation

Source: Government of Qatar

Doha, June 17, 2026

HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani received a phone call from HE Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation of the Italian Republic, Antonio Tajani.

During the call, the two sides discussed bilateral cooperation relations and ways to support and strengthen them. They also discussed the latest regional developments, particularly the agreement reached between the United States and the Islamic Republic of Iran, as well as ongoing efforts to enhance security and stability in the region.

During the conversation, HE the Prime Minister and Minister of Foreign Affairs reaffirmed the State of Qatar’s full support for all efforts and good offices aimed at promoting regional security and stability and achieving sustainable solutions to outstanding issues through dialogue and peaceful means, in line with the principles of international law and good neighborliness and contribute to opening new horizons for cooperation, development and prosperity while advancing the shared interests of the peoples of the region and the world.

June 17, 2026

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

Source: APO

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.

June 17, 2026

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

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June 17, 2026

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.

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).

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.

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

June 17, 2026

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.

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

June 17, 2026

Fuel price surge pushes consumer price inflation to 4.5% in May

Source: Government of South Africa

Fuel price surge pushes consumer price inflation to 4.5% in May

South Africa’s consumer inflation rate rose to 4.5% in May 2026, up from 4.0% in April, marking the highest annual rate recorded since July 2024, when inflation stood at 4.6%.

The monthly change in the consumer price index (CPI) was 0.7% in May.

In a statement released on Wednesday, Statistics South Africa (Stats SA) attributed the increase in inflation primarily to higher fuel prices.

The fuel index recorded a second consecutive sharp monthly increase, rising by 14.3% and pushing the annual fuel inflation rate to 28.7%.

“Over the past 12 months, petrol prices increased by 24,8% and diesel by 53,8%. The impact of higher fuel prices on overall inflation can be seen by looking at the ‘CPI excluding fuel’ index.

“The annual change in this index was 3,7% in May, the same as the previous month. The rate has moved in a narrow range between 3,5% and 3,8% over the past 12 months. The monthly increase was 0,2% in May,” Stats SA said.

Stats SA added that inflation for food and non-alcoholic beverages (NAB) continues to subside, declining to 1.9% from 2.9% in April.

This is down from the peak of 5.7% recorded in July 2025.

“Annual deflation for cereal products deepened, dropping to -1.4% from -1.2% in April. Maize meal is 4.4% and brown bread 0.3% cheaper than a year ago.

“Meat inflation cooled in May, recording an annual increase of 7.3% compared with April’s 9.4%. The monthly rate was -0.8%,” Stats SA said.

Stewing beef prices dropped by 3.0% and beef mince by 2.4% between April and May.

The annual increase for these two products was 2.8% and 10.6% respectively.

Inflation for individual quick frozen (IQF) portions also decelerated, declining to 6.7% in May from 7.3% in April.

“Prices for fruits and nuts and vegetables are lower than a year ago at -8.5% and -6.0% respectively. Both categories have been in deflationary territory since October 2025,” Stats SA said.

The annual rate for the milk, other dairy products and eggs category increased to 0.9% from 0.1% in April.

Several products recorded high monthly increases, including full cream long-life milk, up by 1.7% (2,2% year-on-year); low fat fresh milk, higher by 1.5% (3.5% year-on-year); and cheddar cheese, up by 1.5% (6.2% year-on-year).

Annual Inflation for the ‘other food’ category rose to 4.9% from 4.1% in April.

“Salad dressing rose by 2.3% between April and May and by 10,0% over the past 12 months. Mayonnaise prices witnessed a monthly increase of 2.2% and an annual rise of 8.1%.

“Salt jumped by 2.5% month-on-month and 9.3% year-on-year. Non-alcoholic beverages also experienced higher inflation rates, increasing to 4.9% from 4.6% in April.

“The annual rate for Ceylon (black) tea rose to 8.3% from 7.8% in April. Rooibos tea also increased to 7.5% from 5.2%,” Stats SA said. –SAnews.gov.za

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Wed, 06/17/2026 – 15:37

June 17, 2026

Islamic Development Bank Group Affiliated Institutions Organize 14th Private Sector Forum in Baku, Azerbaijan (16-19 June 2026)

Source: APO – Report:

The Islamic Development Bank (IsDB) (www.IsDB.org) Group’s affiliated institutions organized the 14^th Private Sector Forum (PSF) from June 16 to 19, 2026, at Baku Convention Center in Baku, the capital city of the Republic of Azerbaijan.

The forum was convened on the sidelines of the IsDB Group’s 2026 Annual Meetings, under the high patronage of His Excellency Ilham Aliyev, President of the Republic of Azerbaijan.

The forum highlighted IsDB Group’s activities and initiatives aimed at empowering both public and private sectors in member countries, particularly in the Republic of Azerbaijan.

The discussions focused on prevailing opportunities and challenges facing the business sector and highlighted the Group’s suite of financing instruments, including lines of financing, private sector financing, trade development support, investment insurance, and export credit facilities, among others.

The forum agenda featured a series of dialogue sessions addressing key economic themes and development projects. Participants also attended presentations on trade and investment opportunities. In addition, bilateral meetings between public and private sector institutions (B2B and B2G) facilitated networking, strategic partnerships, experience sharing, and the promotion of success ventures.

In addition to the dialogue sessions, the forum hosted the Halal Economy Leadership Forum, which brought together policymakers, industry leaders, and experts to discuss emerging opportunities and challenges within the global halal economy. The event also featured the IsDB Group Startups Competition, providing an important platform for innovative entrepreneurs from member countries to showcase their solutions before investors, development institutions, and business leaders. The winners of the competition and the Private Sector Forum Awards were recognized during a dedicated awards ceremony honoring outstanding achievements in entrepreneurship, innovation, investment, trade, and private sector development.

The forum attracted high-level participation from Azerbaijan government officials, presidents and CEOs of local, regional, and international private sector companies, investors, businessmen, chambers of commerce and industry, trade and investment promotion bodies, and regional and international financial and development institutions.

In his speech, H.E. Mikayil Jabbarov, Minister of Economy of the Republic of Azerbaijan and Chairman of the Board of Governors of the Islamic Development Bank (IsDB), stated: “Azerbaijan highly values its partnership with the Islamic Development Bank Group and remains committed to deepening trade, business, and investment cooperation with member countries. Leveraging its strategic location at the crossroads of Europe and Asia, modern transport infrastructure, and ongoing economic diversification efforts, Azerbaijan serves as an important platform for regional connectivity and sustainable growth. By combining the country’s investment potential with the IsDB Group’s financial capabilities, global expertise, and extensive network, we can unlock new opportunities for impactful projects that advance economic development and deliver long-term benefits across the region.”

In his opening remarks, His Excellency Dr. Muhammad Al Jasser, Chairman of the Islamic Development Bank Group, welcomed all participants to the forum. He stated: “At the Islamic Development Bank Group, we firmly believe that the private sector is not a supporting actor in development — it is the lead actor. Our role is clear: to remove obstacles, reduce risks, and open doors. We will continue to stand as a committed partner—mobilizing finance, mitigating risk, and enabling trade and investment that drive inclusive, resilient, and sustainable growth”

During the CEOs session, Dr. Khalid Yousif Khalafalla, CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Acting CEO of the Islamic Corporation for the Development of the Private Sector (ICD), stated: “The Private Sector Forum witnessed a distinguished cohort of partners from both public and private sectors. Sustainability and development constitute the core focus of our mission, as we strive to unify the efforts of our private sector partners and other financing agencies to bridge the sustainable financing gap, provide co-financing opportunities, and develop innovative solutions to address the challenges of sustainable development. In this context, from ICD side, we are proud of our role in private sector development by providing effective financing solutions to financial institutions and large corporations, as well as facilitating access to suitable financing for small and medium enterprises. We also continue to finance infrastructure projects that enhance development impact, encourage cross-border investment, support member countries’ exports, and create new job opportunities. In fact, ICD has achieved approximately $7.1 billion in cumulative approvals. Last year, the total financing directed towards SMEs reached USD 661.9 million. ICD supported institutions collectively employed 178,988 staff members.”

He added, “Since its inception and up to the end of 2025, ICIEC has provided cumulative insurance cover exceeding USD 139 billion, including USD 108 billion in support of trade flows and more than USD 31 billion to facilitate foreign investment across its Member States. Of this, intra-OIC trade and investment accounted for more than USD 66 billion, reflecting ICIEC’s role in strengthening economic cooperation among Member Countries. In 2025 alone, ICIEC enabled USD 1.9 billion in Islamic trade and investment finance, supported more than 294,000 jobs, and reached around 6,000 SMEs. Through its Shariah-compliant credit and political risk insurance solutions, ICIEC continues to mobilize capital, reduce risk, and support sustainable development across strategic sectors.”

On his part, Eng. Adeeb Yousuf Al-Aama, CEO of the International Islamic Trade Finance Corporation (ITFC), stated: “The 14^th edition of the Private Sector Forum reaffirmed the vital role of the private sector in fostering economic growth, generating employment, and reducing poverty in member countries. The active participation of the business community greatly enriched discussions and strengthened collaborative efforts to promote economic resilience and business dynamism.

He added: “Since its inception in 2008, ITFC has extended over US$96 billion in trade financing to OIC member countries, becoming the leading provider of trade solutions in the region. Of this, US$20 billion was allocated to support private sector and SMEs – combining financial support, technical assistance, and capacity building efforts to help these enterprises access regional and international markets. In 2025 alone, ITFC approved US$9.3 billion in trade finance and disbursed US$7.5 billion across its member countries. Through its operations, the Corporation supported more than 120,000 jobs, provided access to finance for 546 corporates and SMEs, and facilitated US$7.8 billion in intra-OIC trade. These achievements reflect ITFC’s continued commitment to strengthening private sector competitiveness, enhancing trade connectivity, and fostering sustainable economic growth across OIC member countries.”

For more information, please visit the event website (www.IsDBG-PSF.org).

– on behalf of Islamic Development Bank Group (IsDB Group).

Contact:
Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)
Email: ICIEC-Communication@isdb.org

International Islamic Trade Finance Corporation (ITFC)
Tel: +966 12 646 8337
Fax: +966 12 637 1064
E-mail: ITFC@itfc-idb.org

Islamic Development Bank Group Business Forum (THIQAH)
Email: THIQAH@isdb.org

Social Media:
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Islamic Corporation for the Development of the Private Sector (ICD)
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International Islamic Trade Finance Corporation (ITFC)
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LinkedIn: International Islamic Trade Finance Corporation (ITFC)

Islamic Development Bank Group Business Forum (THIQAH)
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LinkedIn: IsDB Group Business Forum – THIQAH

About Islamic Development Bank (IsDB) Group:
Rated AAA by the major rating agencies of the world, the Islamic Development Bank is the pioneering multilateral development bank (MDB) of the Global South that has been working for over 50 years to improve the lives of the people and communities it serves by delivering impact at scale. The Bank brings together 57 Member Countries across four continents, touching the lives of nearly 1 of 4 people worldwide. It is committed to addressing development challenges and promoting collaboration to help achieve the United Nations Sustainable Development Goals (SDGs) by equipping people to drive their own green economic and sustainable social progress, putting planet-friendly infrastructure in place and enabling them to fulfil their potential. Headquartered in Jeddah, Kingdom of Saudi Arabia, IsDB has 10 regional hubs and a center of excellence.  Over the years, the Bank has evolved from a single entity into a group comprising: the Islamic Development Bank (IsDB), the Islamic Development Bank Institute (IsDBI); the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC); the Islamic Corporation for the Development of the Private Sector (ICD); and the International Islamic Trade Finance Corporation (ITFC).

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

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

About the Islamic Corporation for the Development of the Private Sector (ICD):
A member of the Islamic Development Bank Group, ICD is a multilateral financial institution with an authorized capital is US$4 billion, of which US$2 billion is available for subscription. Its shareholders comprise the Islamic Development Bank’s 56 member countries, and five public financial institutions.

Since its inception in 1999, the Corporation has played a pivotal role in fostering inclusive and sustainable growth through Shariah-compliant financing, cross-border investments, and vital infrastructure development. ICD has contributed significantly to enhancing the economic landscape of its member countries.

Website: https://ICD-PS.org/

About the International Islamic Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$96 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, which would enable them to successfully compete in the global market.

About the Islamic Development Bank Group Business Forum (THIQAH):
THIQAH serves as the private sector interface of the IsDB Group, facilitating engagement and collaboration amongst the Group entities and businesses in member countries. Its core aim is to build an inclusive, strategic platform for dialogue, cooperation and partnerships focused on high potentials investment opportunities.

By leveraging IsDB Group resources, THIQAH offers support services and confidence to investors while promoting cross-border investment flows withing member countries.

Website (www.IDBGBF.org).

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