Category: English

Source: APO

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (https://ICIEC.IsDB.org), a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, and Al Baraka Islamic Bank BSC Bahrain signed a Documentary Credit Insurance Policy (DCIP). The policy aims to strengthen support for Shariah-compliant trade finance, enabling greater security and confidence in the international trade ecosystem.

The agreement was signed by Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, and Dr. Adel Salem, Chief Executive Officer of Al Baraka Islamic Bank BSC Bahrain, in a joint effort to enhance the capacity of Islamic financial institutions to manage trade-related risks more effectively.

Under this partnership, ICIEC will provide insurance coverage for the confirmation of Letters of Credit (LCs) issued by Al Baraka Islamic Bank in connection with the import and export of eligible Shariah-compliant goods and services. This solution will help mitigate payment risks associated with cross-border trade while promoting sustainable growth in ICIEC’s member states.

Dr. Khalid Khalafalla, CEO of ICIEC, stated: “This strategic collaboration with Al Baraka Islamic Bank reflects ICIEC’s unwavering commitment to advancing intra-OIC trade and investment. By supporting Shariah-compliant trade finance through our Documentary Credit Insurance Policy, we are facilitating secure trade flows while empowering Islamic banks to broaden their offerings to clients. This partnership demonstrates the power of multilateral cooperation in achieving shared development goals.”

For his part, Dr. Adel Salem, CEO of Al Baraka Islamic Bank BSC Bahrain, stated: “We are delighted to partner with ICIEC on this pioneering Credit Insurance Policy, which empowers us to extend Shariah‑compliant trade finance to our clients, bolster Bahrain’s role as a regional hub for Islamic banking, and stimulate sustainable economic growth across member states worldwide. This collaboration underscores our unwavering commitment to innovation and robust risk management, giving the businesses we serve greater confidence to expand in global markets.”

The DCIP serves as a vital tool for Islamic banks, enhancing their ability to expand trade finance operations with reduced exposure to commercial and political risks. The policy also complements ICIEC’s broader mandate to promote economic resilience, financial inclusion, and private sector development in member countries.

Both institutions reaffirmed their shared dedication to expanding the reach of Islamic finance, strengthening risk mitigation tools, and contributing to inclusive and sustainable economic development.

Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

Media Contacts:
ICIEC
Email: ICIEC-Communication@isdb.org

Al Baraka Islamic Bank BSC
Email: marketing@albaraka.bh

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About The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC):
As a member of ‘AAA’ rated Islamic Development Bank (IsDB), 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 financial solutions. The Corporation is the only Islamic multilateral insurer in the world. It has led from the front in delivering a comprehensive suite of solutions to companies and parties in its 50 Member States. ICIEC, for the 17^th consecutive year, maintained an “Aa3” insurance financial strength credit rating from Moody’s, ranking the Corporation among the top of the Credit and Political Risk Insurance (CPRI) Industry. Additionally, S&P has reaffirmed ICIEC “AA-“ long-term Issuer Credit and Financial Strength Rating for the second year with Stable Outlook.  ICIEC’s resilience is underpinned by its sound underwriting, global reinsurance network, and strong risk management policies. Cumulatively, ICIEC has insured more than USD 121 billion in trade and investment. ICIEC activities are directed to several sectors – energy, manufacturing, infrastructure, healthcare, and agriculture.

Website: https://ICIEC.IsDB.org

About Al Baraka Islamic Bank BSC:
Al Baraka Islamic Bank (AIB) is one of leading financial institutions in the Islamic banking sector within Bahrain. Throughout its history of more than four decades (since its establishment in 1984), the Bank has played a prominent role in building the infrastructure of the Islamic finance industry. The Bank also played a significant role in promoting the Islamic finance industry and publicizing its merits.

AIB offers innovative financial products, including investments, international trading, management of short-term liquidity and consumer financing, all of which are all based on Islamic financing modes. Such financing includes Murabaha, Wakala, Istisna, Musharaka, Mudarabah, Salam, and Ijara Muntahia Bittamleek.

Website: https://www.AlBaraka.bh

Source: APO

Launched in 2017 and completed in 2024, the Cashew Development Support Project in the Comoé Basin for REDD+ (PADA/REDD+) exemplified sustainable development. The project combined poverty reduction, ecological transition and the empowerment of women and young people, achieving a remarkable implementation rate of 95 percent.  It has revitalised the cashew nut industry, Burkina Faso’s third largest agricultural export after cotton and sesame.

The PADA/REDD+ project received support from the African Development Bank, which granted a loan of $4 million, and the African Development Fund, the Bank Group’s concessional funding window, with a grant of $1.39 million, representing 61 percent of the total project cost of $8.82 million. The government of Burkina Faso and the beneficiaries provided the remaining funding.

The project mobilised the necessary resources to contribute to the sustainable transformation of the Cascades, Hauts Bassins and South-West regions, with significant participation from women. It enabled producers to reduce maintenance costs, improve soil fertility and structure, and increase cashew productivity and incomes in a sustainable manner.

Climate action combined with agricultural production

The first component of the PADA/REDD+ focused on carbon sequestration. This resulted in the creation of seven tree parks, the production of more than 1.6 million improved seedlings and the development of approximately 27,000 hectares of agroforestry plantations. One-third of these plantations are maintained by women, underlining the project’s commitment to promoting social inclusion. A total of 35,340 producers, including 6,047 women, were trained in good agricultural and organic practices.

This capacity-building approach for producers and processors equipped each stakeholder with the skills required to meet their needs and expectations, particularly in mastering technical production and processing methods.

Adama Patrick Sombié, a cashew nut processor in Bérégadougou, confirms his satisfaction: “Before the project, there were no cashew tree parks in the village, only forest and a few orchards. When the project offered plots to promoters, I signed up and received two hectares.”

Access to finance and modernization of processing

The second component of the project focused on strengthening value chains. Long hampered by limited access to finance, the sector’s development has benefited from an innovative partnership with the umbrella organisation of Burkina Faso’s Caisses populaires banks, alongside savings and loan cooperatives.

This mechanism enabled investment loans to be granted based on a sliding scale of interest rates, financing 103 microprojects for a total of 888 million CFA francs, or approximately $500,000. The project also created 9,580 additional “green” jobs, 92.66 percent of which were for women, by financing micro-investment projects.

Thanks to the funding provided, seven processing units were modernised. A new unit called “Tensya” was established in the commune of Toussiana, and three warehouses were built, one of which is reserved for women. The project also enabled the purchase of 12 trucks and 45 tricycles, training in good practices for 631 people, strengthening the environmental skills of 477 stakeholders, and the construction and equipping of infrastructure such as a cooking and shelling centre for women in Diéri, entirely subsidised by the African Development Bank.

An inclusive and sustainable impact

These microprojects reached nearly 18,000 people, 61 percent of whom were women, further strengthening the inclusive approach of PADA/REDD+. “This project is a blessing for us. Thanks to the income generated, we can send our children to school and keep them healthy. Before, we used to sell our products at rock-bottom prices, but now, with our own processing units, we control the entire value chain,” says Aramatou Barro, a processor in Diéri.

Christiane Koné, a processor in Toussiana, confirms this postive impact: “Thanks to the project, we have been able to purchase six automatic shelling machines, which are twice as fast as our 25 manual shelling tables.”

At the same time, the project structured supply networks, ensured that 96 cooperatives complied with OHADA (Organization for the Harmonization of Business Law in Africa) standards and implemented an environmental management plan. Working conditions have improved significantly. Isso Kindo, a trader in Bobo-Dioulasso, says: “Transport was our main obstacle. Today, thanks to the truck financed by the project, I can transport up to 60 tonnes of nuts from the towns of Banfora and Mangodara.”

The impact of PADA/REDD+ can also be measured in terms of job creation for young people and rural entrepreneurs. In Orodara, Arzouma Zougouri, a producer and business owner, explains that “the project’s support has enabled me to better equip my processing unit. I’ve gone from 200 to 300 employees,” he says proudly.

By structuring the cashew nut sector sustainably, increasing productivity and strengthening local processing, PADA/REDD+ achieved its objectives whilst laying the foundations for more resilient rural development. Its contribution to carbon sequestration through agroforestry plantations strengthens its environmental impact. Perennial plantations, modernised agricultural practices, a strengthened local processing network and better access to finance were the pillars of this success.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Source: APO

Thirteen-year-old Beni Cial Yumba Musoya used to spend her days scavenging for cobalt under the scorching sun in the artisanal mines of Kolwezi. Today, she dreams of donning a white coat and saving lives. “I want to be a doctor,” she says, smiling shyly from her wooden desk at Kasanda Primary School in Kasulo, a neighbourhood nestled in Congo’s mining heartland of south-eastern Democratic Republic of Congo. “I will build schools and health centres to help people, just as I was helped before,” she continues.

Beni is one of thousands of Congolese children whose lives have been transformed by the Support Project for Alternative Welfare of Children and Young People Involved in the Cobalt Supply Chain (PABEA-COBALT) (https://apo-opa.co/4l0Hwfv), a bold $82 million initiative funded by the African Development Bank.

The project aims to eliminate child labour in the cobalt sector – an industry vital to the global tech economy, yet plagued by poverty, informally and exploitation.

The atmosphere here has changed dramatically. Just a few years ago, the soundscape of Kasulo was dominated by the roar of rudimentary mining machinery and the shuffle of children burdened by sacks of ore. Today, those echoes have been replaced by the buzz of classrooms, the chatter of pupils at recess, and the laughter of children rediscovering play and learning.

In early 2022, PABEA-COBALT identified more than 16,800 Congolese children working in artisanal cobalt mines in the provinces of Haut-Katanga and Lualaba. Since then, 13,587 of them – including Beni – have been enrolled in schools. Many attend newly constructed or rehabilitated facilities like Kasanda Primary School, where education, healthcare, psychological support and civil registry services are provided at no cost.

“Before, I used to collect minerals in artisanal mines. That was all I knew,” recalls Beni, her expression briefly clouded by painful memories.

A few steps away, Marie Samba tends to her hens and quails, her hand dusted with feed rather than cobalt residue. A former mine worker, Marie once spent her days sorting and washing cobalt to survive. Today, she’s a trained poultry farmer. “I used to collect and wash minerals to sell them,” she sighs.

Marie is one of over 10,500 parents and guardians supported by the project – well above the initial target of 6,250. They have received training in agriculture and livestock farming, as well as materials to start-up kits to launch small businesses. Additionally, 8,200 young people formerly working in the mines are being supported to integrate into school, vocational training, or income-generating activities.

“We have been educated and trained in livestock farming and agriculture. We have also been given supplies to start our activities. I didn’t think I could change my life like this,” says Marie Samba, who is delighted with the excellent results she is achieving with her poultry farm

PABEA-COBALT has also helped establish two entrepreneurship centres in Haut-Katanga and Lualaba, equipped with modern equipment for agriculture, livestock farming and food processing. These centres serve as anchors for change, empowering young people and parents to build livelihoods away from the mines.

“One of the project’s greatest successes is that it has anchored change from within the communities,” says project coordinator Alice Mirimo Kabetsi. “Solutions don’t just come from outside: they are now driven by parents, teachers and young people themselves. This model proves that by focusing on education and local entrepreneurship, we can break the cycle of child labour in the mines for good,” she said.

Across the region, this shift is tangible. Nearly 1,000 agricultural cooperatives have been reorganized, strengthening local agricultural and livestock value chains and offering new economic opportunities. The transformation has drawn international attention. A recent report from the DRC’s National Human Rights Commission titled Child labour in artisanal cobalt mining sites (https://apo-opa.co/4lU5lGn), produced in collaboration with the UN Human Rights Council, commended the project’s “tangible results” and urged replication in other mining-affected region across the Great Lakes.

Back in Kasulo, children like Beni are rediscovering their childhood dreams and the power of innocence. Mothers like Marie are holding their heads high, proud to be building a future free from the cobalt mines.

For partners such as the African Development Bank, this project has not only changed lives. It has paved the way for a whole generation growing up far from the mines and building, day after day, a stronger, fairer and resolutely forward-looking society.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

About the African Development Bank Group: 
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

Source: APO

Climate change is a growing threat across Africa, with West Africa feeling its effects especially intensely. According to the ND-GAIN index, Burkina Faso (162nd out of 182), Senegal (144th), and Côte d’Ivoire (134th) rank among the most vulnerable countries. They face a dangerous mix of low capacity to adapt and high exposure to climate hazards.

This vulnerability shows up in more extreme weather, worsening food insecurity, and growing precarity—particularly harming women and young people.

To tackle this urgent challenge, the Union of Economic and Social Councils and Similar Institutions of Africa (UCESA), supported by the African Development Bank, has developed three national advocacy papers. These papers promote participatory climate governance that reflects citizens’ real needs. They also aim to strengthen the role of Economic and Social Councils in shaping national climate policies.

“These advocacy plans put citizens back at the centre of climate action,” said Arona Soumare, Principal Climate Change and Green Growth Officer at the African Development Bank. “By giving them full backing, the African Development Bank is reiterating its commitment to inclusive, equitable climate governance rooted in local realities. These initiatives lay the foundations for sustainable and resilient development in Africa.”

According to Abdelkader Amara, current head of UCESA and President of the Economic, Social and Environmental Council (CESE) of Morocco, “UCESA is aware of these challenges and consequently intends to promote and support actions taken by African Economic and Social Councils and similar institutions that help to integrate sustainability and resilience into the frameworks for defining, implementing, and evaluating relevant institutional and policy mechanisms.”

Burkina Faso: 

Building resilience in a Sahelian setting

Located in the middle of the Sahel belt, Burkina Faso is one of the countries that is most vulnerable to climate change. This fragility is exacerbated by a limited ability to adapt, which is particularly pronounced among women and young people. The advocacy effort developed by the Economic and Social Council of Burkina Faso, aided by technical support from UCESA, reflects citizens’ perceptions of the real effects of climate change. It proposes responses rooted in local realities, with a view to steering public policies towards a more inclusive, participatory and community resilience-oriented approach.

Côte d’Ivoire:

Towards citizen-centred climate governance

Côte d’Ivoire lies in a region highly vulnerable to climate shocks. This vulnerability is compounded by the limited involvement of women, especially in rural areas, and the still marginal role of civil society. The national advocacy paper, developed through extensive consultation, captures citizens’ expectations and offers clear recommendations for more equitable climate governance. It underscores the importance of fully including people’s voices in decision-making processes—an essential element for effective climate action.

Senegal:

Citizen participation and climate resilience

Senegal, a country in the Sahel-Sudan region, is already bearing the brunt of climate change. The national advocacy campaign draws on a citizen perception survey to inform a participatory discussion on future policy directions. Led by Senegal’s Economic, Social and Environmental Council, in partnership with UCESA and the African Development Bank, the resulting document calls for a unified effort from civil society, researchers, NGOs, and policymakers to create climate strategies that are inclusive, locally grounded, and capable of sustainably strengthening national resilience.

A regional dynamic

These three advocacy papers are part of a regional dynamic propelled by UCESA, with the support of the African Development Bank. They demonstrate a shared commitment to rooting climate action in citizen participation, stakeholder synergy, and regional solidarity. Through this initiative, the Economic and Social Councils are re-asserting their role as a strategic interface between civil society and public authorities in responding to the continent’s climate challenges.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Source: APO – Report:

The MSGBC Oil, Gas & Power Conference & Event returns to Dakar, Senegal in December at the Centre International de Conférences Abdou Diouf. The pre-conference will take place on December 8 and the main event will take place on December 9 -10 under the theme Energy, Petroleum and Mining in Africa: Synergy for Inclusive Economic Development.

The conference & exhibition aims to unite the MSGBC region through energy cooperation, supporting cross-border collaboration and shared development strategies to drive sustainable growth and long-term economic integration across the Basin.

For four years, MSGBC Oil, Gas & Power has established itself as the premier platform for industry leaders, innovators and policymakers in the MSGBC region. Each edition has played a crucial role in determining the region’s energy future, driving investment and advancing project development. By connecting governments, energy companies, global operators and financiers, MSGBC Oil, Gas & Power facilitates strategic partnerships and regional cooperation.

The MSGBC Basin is home to upstream acreage, integrated infrastructure projects and forward-looking development plans. As large-scale projects in Mauritania and Senegal have moved into production and exploration expands across The Gambia, Guinea-Bissau and Guinea-Conakry, the region requires continued technical and financial engagement to meet its energy goals.

Join MSGBC Oil, Gas & Power 2025 in Dakar this December and be part of the region’s leading energy and mining investment platform. Register now at www.MSGBCOilGasAndPower.com.

The event is organized with the support of Senegal’s Ministry of Energy, Petroleum and Mines, Senegal’s national oil company Petrosen E&P, COS-Petrogaz and the African Energy Chamber.

Recent developments across the MSGBC region include the shipment of the first LNG cargo from bp and Kosmos Energy’s Greater Tortue Ahmeyim project offshore Senegal and Mauritania in April 2025. In Senegal, under the leadership of Birame Souleye Diop, Minister of Energy, Petroleum and Mines and Talla Gueye, Director General, Petrosen E&P, oil production at Woodside’s Sangomar field is ongoing, with 3.11 million barrels produced and exported in January 2025 alone and a projected output of 30.5 million barrels for the year at a plateau rate of 100,000 barrels per day.

In Guinea-Conakry, the first locomotive for the Trans-Guinean railway, part of the Simandou iron ore development, arrived in May 2025. In The Gambia, the government announced that national electricity access is expected to reach 90% by the end of 2025. Meanwhile, Guinea-Bissau signed an oil and gas cooperation agreement with Azerbaijan in June 2025 to support technical and investment partnerships.

Building on past successes, MSGBC 2025 will be the most impactful edition to date, offering unmatched opportunities for investors and project developers, as well as international operators and service providers.

“Our objective is to facilitate investment and partnerships across the MSGBC region by providing direct access to decision-makers and financiers,” says Sandra Jeque, Event and Project Director at Energy Capital & Power. “This event is a platform for governments and the private sector to align on shared priorities and promote energy and mining as drivers of economic development.”

– on behalf of African Energy Chamber.

Source: APO

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By Grace Orife, African Energy Chamber (www.EnergyChamber.org) board member

Nigeria’s oil and gas sector stands at a strategic inflection point and the country’s marginal fields are vital for growth and sustaining upstream activity. These smaller, often undercapitalised fields, especially in shallow waters, are rich with potential. But the obstacle isn’t the geology—it’s fragmentation.

Marginal fields in Nigeria are primarily operated by indigenous companies building pursuing parallel strategies and competing for capital, technology and talent. The result? Redundant investments, suboptimal recovery, and a lack of scalable impact. What the sector needs now is not more competition, but more cooperation with an outlook on investment.

Shared Infrastructure, Shared Value

The current model of asset duplication—each operator investing separately in logistics, facilities and maintenance—is financially and operationally inefficient. A shared infrastructure model dramatically reduces cost per barrel and enhances asset longevity. Value creation replaces asset control as the strategic lens. A great example of this is the 48Km pipeline Umutu to Kwale, Delta state ­– a joint venture between Platform Petroleum and Newcross Petroleum. Indigenous joint ventures can create more bankable projects, unlock blended finance models and even attract ESG-linked capital. Scale is no longer just a metric—it’s a signal.

Another example is the Otakikpo onshore terminal in OML 11, completed in 2025. Developed by Green Energy International, the terminal is the first indigenous facility constructed in the country in five decades. With a storage capacity of 750,000 barrels – set to increase to three million barrels depending on market demand – and an export capacity of 360,000 barrels per day, the facility reduces operating costs for marginal fields. The terminal is expected to unlock previously-stranded resources from up to 40 marginal fields, highlighting the value of shared infrastructure in Nigeria.

Strengthened Policy

The recently passed Petroleum Industry Act (PIA) is a game-changer for Nigeria’s energy industry. By promoting transparency, streamlining regulations, and reforming tax and royalty structures, the PIA creates a more attractive environment for global investors. Crucially, the PIA also addresses marginal field development, providing a clear licensing framework and resolving legal ambiguities. With the PIA in place, Nigeria’s energy sector is poised for a revival, enabling the country to better meet its domestic needs, including reliable electricity and economic growth.

From Possibility to Practice: Building the Architecture for Collaboration

When operators share more than just facilities—when they share insights, talent, and lessons learned—sector-wide operational resilience improves. Peer-to-peer learning reduces downtime, enhances safety practices, and fosters innovation. In high-risk environments, agility is a competitive edge.

To translate this vision into operational reality, indigenous firms must move beyond handshake agreements to structured partnerships. Such partnerships must incorporate strong governance models – featuring transparent rules for decision-making, risk-sharing and conflict resolution. The utilization of neutral operators – third parties who manage shared infrastructure – will also ensure fair access, while structures such as joint operating agreements will enable companies to formalize roles, reduce costs and enhance performance.

In this scenario, government regulators have a catalytic role to play. By offering fiscal incentives, easing licensing for consortia and prioritising collaborative proposals, they can turn policy into progress.

The Future Belongs to the Connected

The next chapter of Nigeria’s upstream oil industry won’t be written by solitary operators: it will be shaped by those who recognise that collaboration is not a compromise, but a competitive advantage. In an era of tighter margins, increasing stakeholder expectations, and declining investment in fossil fuels, the old model of isolated operation is no longer sustainable.

Marginal fields represent more than untapped reserves – they are an opportunity to reimagine how indigenous oil and gas companies create value. By sharing infrastructure, pooling resources, and aligning strategies, local operators can unlock performance at scale, attract investment, and meet rising ESG standards with credibility.

This is not just a call to cooperate – it’s a strategic imperative. The future will favour those who embrace a new mindset: one that values partnership over ownership, ecosystem thinking over individual ambition, and shared impact over siloed success.

The time to act is now.

Distributed by APO Group on behalf of African Energy Chamber.