Luxembourg and African Development Bank deepen partnership to advance Africa’s sustainable growth

Source: APO – Report:

African Development Bank Group (https://www.AfDB.org) President Dr Sidi Ould Tah and Luxembourg’s Finance Minister, Gilles Roth, have pledged to deepen cooperation as preparations advance for the seventeenth replenishment of the African Development Fund (ADF-17), the Bank Group’s concessional financing window.

The two leaders met on the sidelines of the 2025 World Bank and International Monetary Fund Annual Meetings in Washington, D.C. It was their first official bilateral meeting since Dr Ould Tah took office in September.

Discussions reaffirmed the long-standing partnership between the two institutions and their shared commitment to multilateral cooperation and Africa’s economic transformation. The talks highlighted Luxembourg’s continued support for sustainable and inclusive growth across Africa’s most vulnerable economies.

Luxembourg remains one of the world’s leading contributors of official development assistance, consistently allocating 1% of its gross national income to development cooperation – well above the 0.7% target recommended by the United Nations and the OECD Development Assistance Committee. Under ADF-16, Luxembourg’s contribution amounted to €12.7 million, a 10% increase over the previous cycle, reflecting the country’s confidence in the Fund’s impact, particularly in climate action, governance, gender equality, and private sector development.

“Africa’s development needs remain considerable, particularly in areas such as education, energy, technology, infrastructure and the fight against climate change,” said Minister Roth. “Luxembourg’s financial centre, with its expertise in sustainable finance and impact investing, is well placed to channel private capital toward these priorities. We will continue working alongside the African Development Bank to strengthen Africa’s investment environment and build a more equitable, resilient, and sustainable future.” 

Dr Ould Tah welcomed Luxembourg’s continued support, describing it as “a steadfast partner” of the African Development Bank Group. “Luxembourg has been a steadfast partner to the African Development Bank Group. Its leadership in sustainable finance and its commitment to effective multilateralism continue to make a real difference across the continent,” the Bank Group president stressed. “As we move toward the ADF-17 pledging session in December, Luxembourg’s partnership will be key to mobilising resources that drive resilience, inclusion, and shared prosperity, delivering impact that extends well beyond Africa’s borders.”

Luxembourg’s collaboration with the Bank extends beyond concessional financing. The country also contributes to the Bank Group’s Capital Markets Development Trust Fund, where it was one of two founding donors — and to the Africa Digital Financial Inclusion Facility, both aimed at promoting financial innovation, broadening access to markets, and strengthening Africa’s private investment ecosystem. 

Since its creation in 1972, the African Development Fund has financed nearly 3,000 projects totalling more than $45 billion, connecting communities and improving access to clean energy, food, education, and healthcare across 37 African countries, almost half of which are fragile or conflict-affected. 

The ADF-17 cycle seeks to mobilise additional resources for transformative investments that create jobs, strengthen resilience, and unlock Africa’s economic potential, thereby contributing to global stability and advancing shared prosperity. 

– on behalf of African Development Bank Group (AfDB).

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Government secures US$925 million loan to improve service delivery

Source: Government of South Africa

Government has secured a US$925 million loan from the World Bank as part of a broader US$3 billion (R55 billion) initiative aimed at helping metropolitan municipalities improve service delivery and upgrade ageing infrastructure. 

The program will benefit the metropolitan municipalities (metros) of Buffalo City, Cape Town, Ekurhuleni, Johannesburg, Tshwane, eThekwini, Mangaung, and Nelson Mandela Bay. 

Together, these municipalities are home to 22 million people and account for 85% of South Africa’s economic activity. 

The World Bank’s Board of Executive Directors has approved the South Africa Metro Trading Services Program (MTSP), the first-ever Program-for-Results (PforR) operation in the country. 

This landmark program aims to improve the accountability, financial health, and operational performance of essential urban services in the country’s eight largest metropolitan municipalities. 

Minister of Finance Enoch Godongwana said the six-year program designed by the Government of South Africa and backed by the World Bank will support the turnaround of essential services and enhance the resilience of cities. 

“Metros will unlock the incentive grant funding by demonstrating improved institutional and service delivery performance in water supply and sanitation, electricity and solid waste management. 

“This will contribute to local capacity building, making use of South Africa’s own institutions and processes.”

Over the past decade, cities in South Africa have faced growing challenges in delivering basic services, with declining access and reliability, financial instability, and underinvestment in infrastructure.

The PforR, a financing instrument that links disbursement of funds directly to the achievement of specific results, will support government-led reforms and institutional strengthening in trading services namely, water supply and sanitation, electricity, and solid waste management. 

These services are vital for both residential and industrial users and are intended to operate on a financially sustainable basis.

Cities that meet performance targets will unlock access to this broader funding to strengthen essential services. 

The government will use the loan to fund a new performance-based fiscal grant to the metros, as part of the government’s Metro Trading Services reforms. 

“Metros will receive grants from the national government, based on results achieved. Should results not be achieved, the grants are not released. This approach incentivises performance and promotes accountability to citizens,” the World Bank said.

World Bank Division Director for South Africa Satu Kahkonen said: “The Metro Services Trading Program represents a milestone in South Africa’s partnership with the World Bank Group, showcasing a shift toward results-driven financing to accelerate progress in public service delivery and governance.

“This operation is designed to incentivize real performance improvements, accountability and institutional reforms through a results-based approach, contributing to better lives and livelihoods in South Africa.”

Minister Godongwana emphasised that the trading services reform is a flagship government-wide reform under Operation Vulindlela Phase II, which was approved by the Cabinet in March 2025. 

Operation Vulindlela is a joint initiative of the Presidency and National Treasury to accelerate the implementation of structural reforms and support economic recovery. 

To ensure that the reform is championed at a local level, the Minister met with mayors from each metro municipality in October. 

The Program-for-Results model focuses on “payment for good performance”. 

The World Bank only disburses funds when pre-agreed results, such as institutional reforms, improved collection rates, asset management practices, and service delivery benchmarks, are achieved and independently verified. 

This ensures a strong focus on outcomes, institutional change, and long-term sustainability.

The MTSP builds on the experience of National Treasury’s Cities Support Programme (CSP), which was established in 2011 and is focused on improving performance and strengthening governance to achieve inclusive, urban economic growth. 

The CSP is implemented in the eight metros by the National Treasury of South Africa with the support of partners, including the World Bank. – SAnews.gov.za

Sultan of Brunei Darussalam Meets Minister of State for Foreign Affairs

Source: Government of Qatar

Bandar Seri Begawan | November 10 2025

HM Sultan Hassanal Bolkiah of Brunei Darussalam met here today with HE Minister of State for Foreign Affairs Sultan bin Saad Al Muraikhi.
During the meeting, HE the Minister of State for Foreign Affairs conveyed the greetings of HH the Amir Sheikh Tamim bin Hamad Al-Thani, to HM the Sultan of Brunei Darussalam, along with His Highness’s wishes for His Majesty’s continued health and happiness, and for the government and people of Brunei Darussalam continued progress and prosperity.
For his part, HM Sultan Hassanal Bolkiah entrusted HE the Minister of State for Foreign Affairs to convey his greetings to HH the Amir, wishing him continued health and happiness, and the State of Qatar continued progress, development, and prosperity.
Discussion during the meeting focused on the two countries’ bilateral relations and ways to strengthen and develop them, in addition to a host of topics of mutual interest.

Minister of State for Foreign Affairs Meets Second Minister of Foreign Affairs of Brunei Darussalam

Source: Government of Qatar

Bandar Seri Begawan | November 10 2025

HE Minister of State for Foreign Affairs Sultan bin Saad Al Muraikhi met on Monday with HE Second Minister of Foreign Affairs of the Sultanate of Brunei Darussalam, Erywan Pehin Yusof.
During the meeting, they discussed cooperation relations between the two countries and ways to support and develop them, in addition to other topics of mutual interest. 

Premier Invest to Highlight Africa’s Expanding Financial Footprint at G20 Investment Forum

Source: APO


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René Awambeng, Founder and Managing Director of Premier Invest, is set to speak at the upcoming G20 African Energy Investment Forum in Johannesburg, where global investors, policymakers and development institutions convene to advance the growth agenda aligned with G20 strategic priorities. His participation underscores a shift: Africa-based financial leadership engaging directly in the global arena, and ties closely to the G20’s focus on mobilizing private capital for infrastructure, trade finance and sustainable growth in emerging markets.

Premier Invest has been actively expanding its footprint and capabilities, securing its licence from the Abu Dhabi Financial Services Authority in August 2025. The milestone paves the way for fund management, advisory and complex transaction activities across strategic sectors including energy, infrastructure, food security and intra-African trade. At the same time, Premier Invest’s recently launched group structure is designed to transform trade finance and investment across emerging markets – a proposition that resonates with the G20’s agenda to build resilient supply chains, foster South-South trade and catalyze private investments in Africa’s development priorities.

Adding to this momentum, Premier Invest hosted a Deal Room at the African Energy Week (AEW) 2025: Invest in African Energies conference, presenting a portfolio of energy and infrastructure opportunities totaling $13.4 billion across upstream, midstream, downstream and renewables sectors. The platform connected project sponsors, lenders and strategic investors, underlining Premier Invest’s role as a capital-mobilization enabler on the continent.

Against this backdrop, Awambeng’s participation in the G20 Investment Forum – hosted by the African Energy Chamber (AEC) – serves to connect Premier Invest’s growing momentum with the broader G20 investment ecosystem, where cross-border capital, blended finance structures and African-led platforms are becoming central to driving sustainable development. Awambeng is expected to address how Africa can evolve from being viewed as an “investment frontier” to becoming a creator and exporter of investment solutions, harnessing its expanding talent pool, ongoing structural reforms and strengthening institutional frameworks.

“When African firms step up to structure capital and host platforms that transparently connect sponsors and investors, we shift the narrative from hand-outs to deal-making,” states NJ Ayuk, Executive Chairman of the AEC. “René’s leadership at Premier Invest and the Deal Room at AEW show that Africa doesn’t just need external capital – it needs to drive how that capital is deployed, aligned with jobs, energy access and trade outcomes.”

As the G20 African Energy Investment Forum prepares to convene, the event will spotlight how Africa’s private sector leadership can engage with global capital flows and play a central role in advancing the G20’s vision for a resilient, inclusive and sustainable investment ecosystem. For Premier Invest, the forum offers a platform to showcase its expanding deal pipeline, recent regulatory milestones and broader mission to position emerging-market investment at the center of global finance.

Distributed by APO Group on behalf of African Energy Chamber.

Call for urgent action on full pit latrines in Setlagole Village

Source: Government of South Africa

Water and Sanitation Deputy Minister Sello Seitlholo has called for an urgent intervention to address the issues of full pit latrines and the stalled bulk water supply scheme in Setlagole Village, North West.

Seitlholo, accompanied by Ngaka Modiri District Municipality Executive Mayor, Khumalo Molefe and Member of Mayoral Committee (MMC) of Infrastructure Development at Ratlou Local Municipality Thabo Motlapele, met with local stakeholders to find solutions to sanitation challenges in the RDP section of Setlagole, and to revive the incomplete bulk water supply scheme that has been stalled for the past ten years.

The visit forms part of the department’s observation of Sanitation Month, commemorated annually from 15 October (Global Handwashing Day) to 19 November (World Toilet Day).

The campaign aims to break the stigma around sanitation and raise awareness of the consequences of lack of sanitation, which includes the increase of makeshift toilets at households that do not have access to dignified sanitation and an increase to open defaecation.

World Toilet Day seeks to raise awareness of the 3.4 billion people globally living without access to safe toilets and to accelerate action to tackle the global sanitation crisis and to achieve United Nations Sustainable Development Goal 6 (SDG 6), which is focused on clean water and sanitation for all, by 2030.

Seitlholo reiterated the department’s commitment to ensuring access to safe, dignified, and sustainable sanitation.

He cited the Water and Sanitation Norms and Standards, which oblige municipalities designated as Water Services Authorities (WSAs) to provide basic sanitation to all consumers, including those on privately owned land, as guided by the Water and Sanitation policy on privately owned land of 2023.

“The Standard of basic sanitation services includes a provision of a toilet with a functional handwashing facility in the yard, which is safe and reliable, environmentally sound and easy to clean, provide privacy and protection against weather, well-ventilated and keep smells to minimum as well providing for an effective and acceptable sanitation technology,” the Deputy Minister said.

However, the Deputy Minister expressed concern that many households in Setlagole’s RDP section face serious sanitation challenges, with pit latrines that have not been serviced or emptied by the municipality since the construction of the houses in 2015.

“This status quo poses a serious health risk for the community and needs an urgent intervention by all three spheres of government,” he warned.

Seitlholo has directed that an audit of functional and non-functional toilets be conducted in Setlagole to help develop a targeted plan for addressing the full pit latrines.

“We are calling for both the municipalities, with support from the Department of Water and Sanitation, to implement the faecal sludge management system that will ensure that the sanitation services provided to these members of the community comply with the norms and standards of provision of basic sanitation services, as dictated by the Water and Sanitation Act 108 of 1997,” Seitlholo said.

Molefe acknowledged the challenge of full pit latrines in Setlagole RDP section, attributing it to a lack of municipal maintenance since the toilets were built ten years ago.

“There was indeed a vacuum to services the toilets once they were full. With the intervention of the Department of Water and Sanitation, I have issued a directive to have experts that will provide support to Ratlou Local Municipality to provide services to address this challenge,” the Executive Mayor said.

According to the department, approximately 72.7% of households in the North West have access to basic sanitation, with 49% of households using waterborne sanitation system connected to waste water treatment works.

Seitlholo emphasised an urgent need to implement Faecal Sludge Management to ensure ongoing services to 51% of households that still uses onsite sanitation. 

“The municipality should be able to properly manage faecal sludge for the beneficial use of producing possible sludge by-products like manure, fertilisers and to be even used for biogas,” the Deputy Minister said.

Turning to the Setlagole Bulk Water Supply Scheme, Seitlholo called on Magalies Water to expedite completion of the project, which is designed to supply 2.4 megalitres of treated water to Setlagole and surrounding villages.

Molefe welcomed department support to unblock stalled projects, saying this aligns with resolutions taken at the Water and Sanitation Indaba earlier this year.

“The Department of Water and Sanitation has provided support on this challenge, and we are hopeful that all the projects will be completed so that the water supply challenges in the district are resolved,” Molefe said. – SAnews.gov.za
 

G20 leaders urged to act decisively to tackle global inequality

Source: Government of South Africa

President Cyril Ramaphosa says if the Group of 20 (G20) is to live up to its mission of addressing the world’s most pressing economic and financial challenges, it must “significantly and urgently reduce inequality”.

In his weekly newsletter to the nation, the President called on world leaders to act now to tackle rising inequality, warning that it poses a threat to global stability, prosperity, and democracy. 

“When South Africa took over the Presidency of the G20 nearly a year ago, we identified equality as one of the pillars of our term, alongside solidarity and sustainability. We chose to focus on equality because it is essential to a more stable, prosperous and sustainable world,” the President said. 

President Ramaphosa said global wealth inequality remains “stark”, noting that the world’s richest 10% account for more than half of total global income and an overwhelming 74% of global wealth. 

“The human cost of these inequalities is severe: one in four people globally face moderate or severe food insecurity.

“These huge disparities are unjust and consign billions of people to poverty. Inequality is bad for everyone. It makes the world less stable; fuels conflict and undermines democracy. It stifles inclusive economic growth and prosperity,” he said. 

As part of South Africa’s G20 Presidency, President Ramaphosa appointed an Extraordinary Committee of Independent Experts on Global Inequality, chaired by Nobel Laureate and renowned economist Professor Joseph Stiglitz. The committee recently presented its report, which examines the causes and consequences of inequality and makes several key recommendations.

“Given the importance of equality to sustaining global growth, to social and political stability and to the legitimacy of international economic governance, it is good that at South Africa’s instance this will be the first time the G20 will focus on this matter and consider an in-depth report of this nature,” he said. 

Among the report’s recommendations is the creation of a permanent international body on inequality, modelled after the Intergovernmental Panel on Climate Change (IPCC). The proposed International Panel on Inequality would measure, monitor, and report on inequality trends and advise governments and multilateral bodies on effective policy responses.

President Ramaphosa highlighted that South Africa has already implemented several measures aligned with the report’s proposals, including progressive taxation, a national minimum wage, subsidised healthcare, zero-rated essential food items, and a robust social protection system.

He added that the report identifies monopolies and anticompetitive business practices as key drivers of inequality and stresses the need to promote debt sustainability, especially for developing economies.

“Another important part of our response to inequality is to promote debt sustainability, especially for developing economies. Interest on sovereign debt repayments, particularly in Africa, is stifling public spending and economic growth. It is widening the gap between countries and within countries,” the President said.

He reiterated South Africa’s call for reform of the global financial architecture, urging multilateral development banks to adopt an “inequality-reducing agenda”. 

The report also proposes that countries develop National Inequality Reduction Plans with clear goals to reduce both income and wealth disparities.

The President said that although not all the recommendations made in the report are new, what he is pleased about is that this is the first time the G20 will be considering the issue of global inequality. 

“It will be critical in the lead up to the Leaders’ Summit later this month that the report is widely-read and its recommendations given proper attention in the public discourse. 

“Inequality is one of the most pressing global issues of our time. This report provides a credible blueprint for the actions we need to take to overcome it,” the President said. – SAnews.gov.za 

SA to advance climate finance at COP30

Source: Government of South Africa

During this week’s climate conference, government will push forward the implementation of securing the US$1.3 trillion in climate finance pledged to developing countries last year. 

South Africa’s delegation will further prioritise finalising the Global Goal on Adaptation through the Belém Work Programme, and ensuring the Loss and Damage Fund supports the most vulnerable. 

South Africa’s delegation to the 30th United Nations Climate Conference (COP30) in Belém, Brazil, will be led by Minister of Forestry, Fisheries and the Environment, Dr Dion George.

“COP30 must deliver real outcomes for people and the planet. This is the time for the world to act. Every decision in Belém must come with a clear plan for implementation, financing, and accountability. People and communities living with the daily reality of climate change cannot wait any longer,” the Minister said on Monday.

The conference will bring together leaders from governments, businesses, and civil society to tackle the defining challenge of this era from 10 to 21 November 2025.

COP30 will spotlight the race to keep warming below 1.5°C, unveil new national climate plans (NDCs), and assess progress on critical finance commitments made at COP29. 

With global temperatures hitting record highs and extreme weather reshaping lives worldwide, the stakes could not be higher, said the department.

The Minister will be co-chairing negotiations for the adaptation stream at COP30 with Jochen Flasbarth, German State Secretary for Economic Cooperation and Development. 

Adaptation is central to protecting lives, livelihoods, and ecosystems in a world already facing the effects of climate change. 

“Adaptation is about building resilience. It is how we prepare for the storms, droughts, and rising seas that are already reshaping our world,” the Minister emphasised.

These negotiations aim to agree on a set of global indicators to measure real progress on adaptation.

“We must be able to track our success and hold ourselves accountable. Without measurable results there can be no credibility,” George said.

He warned that global cooperation is under pressure but reaffirmed South Africa’s commitment to working through multilateralism.

“No nation can face this crisis alone. Together we can find solutions that are fair, practical, and lasting,” the Minister said. – SAnews.gov.za

Petrosen E&P Director General to Spotlight Senegal’s Upstream Growth at MSGBC 2025

Source: APO


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As Senegal looks toward the next phases of its energy development, Talla Gueye, Director General of Petrosen E&P – the upstream division of the national oil company (NOC) Petrosen – has joined the MSGBC Oil, Gas & Power 2025 Conference and Exhibition as a speaker.

Taking place December 8-10 in Dakar, Senegal, the event is the premier platform for the region’s energy sector. Gueye’s participation comes on the back of a series of exploration and production milestones reached in recent months and is expected to unlock new opportunities for dealmaking and partnerships across the oil and gas sector.

The year 2025 has become a decisive point for Senegal’s upstream oil and gas sector with the start of two major offshore projects. In the gas sector, the country started production at the Greater Tortue Ahmeyim (GTA) project in February 2025, with first LNG export achieved in April and commercial operations date reached in June. With a capacity of 2.3 million tons per annum (mtpa) in the first phase and 5 mtpa in the second, the project signals Senegal’s emergence as a global LNG producer. For Petrosen, the project also reflects the company’s capacity to deliver large-scale projects in close collaboration with international partners.

This comes as the NOC seeks a partner to advance the development of the Yakaar-Teranga gas project. Developed in partnership with energy major Kosmos Energy, Yakaar-Teranga sits on approximately 25 trillion cubic feet of recoverable gas reserves. Moving toward a final investment decision, the project will produce gas primarily for the domestic market, positioning offshore gas projects as an anchor for economic and industrial development. 

Petrosen has also played an instrumental role in delivering offshore oil projects. In collaboration with Woodside Energy, the company started production at the Sangomar oilfield in June 2024. Representing the nation’s first large-scale oil project, Sangomar has a capacity to produce 100,000 barrels per day (bpd). In 2024 alone, the project produced 16.9 million barrels of oil – exceeding initial targets of 11.7 million barrels for the year. Forecasts for 2025 show the project producing nearly 34.5 million barrels, representing an increase from initial estimates of 30.5 million barrels. Looking ahead, the partners are assessing prospects of raising the project’s capacity above 100,000 bpd while analyzing options for associated gas development.

Stepping into this picture, Gueye’s participation at MSGBC Oil, Gas & Power 2025 reflects the company’s commitment to maintaining the growth momentum of Senegal’s upstream oil and gas sector. The success of projects such as GTA and Sangomar not only showcase the level of opportunity that lies in Senegal’s offshore hydrocarbon basins, but is a testament to Petrosen’s willingness to work with partners to advance strategic developments. The conference offers a unique opportunity to engage potential investors, showcase ongoing projects and share insight into upcoming investment opportunities in Senegal.

“Petrosen stands at the center of Senegal’s transformation into a major hydrocarbon producer. Under strong leadership, the company has demonstrated that NOCs can drive world-class projects while ensuring that resources directly support local growth and energy security. Petrosen’s role in projects such as GTA, Sangomar and Yakaar-Teranga exemplifies how strategic partnerships can unlock lasting value for Senegal and the wider MSGBC region,” states Sandra Jeque, Project Director, Energy Capital & Power.

Explore opportunities, foster partnerships and stay at the forefront of the MSGBC region’s oil, gas and power sector. Visit www.MSGBCOilGasAndPower.com to secure your participation at the MSGBC Oil, Gas & Power 2025 conference. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

The Islamic Corporation for the Development of the Private Sector (ICD) successfully closed the first ever Shariah-compliant medium-term syndicated financing facility for AKLease to boost leasing to Small and Medium Enterprises (SMEs) and private sector growth in Türkiye

Source: APO


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The Islamic Corporation for the Development of the Private Sector (“ICD”) (https://ICD-PS.org), the private sector arm of the Islamic Development Bank (“IsDB”) Group, is pleased to announce the successful closure of a EUR 20 million Shariah-compliant medium-term syndicated financing facility for Ak Finansal Kiralama A.Ş. (“AKLease”), a leading leasing company in Türkiye.

This partnership aims to boost leasing activities and support private sector businesses in Türkiye, by providing  financing solutions to empower corporates and SMEs.

The 3-year Commodity Murabaha facility was arranged by ICD as the Mandated Lead Arranger, Bookrunner, and Investment Agent, with Al Salam Bank B.S.C. joining as a Joint Lead Arranger.

Dr. Khalid Khalafalla, Acting CEO of ICD, stated: “ICD is proud to launch a new medium-term facility dedicated to promoting economic development and expanding leasing in Türkiye. Our focus is on empowering private sector enterprises, particularly corporates and SMEs, that are catalysts for meaningful economic progress.”

Mr. Eser Okyay, General Manager of AKLease, also stated “AKLease is a key enabler of private sector growth and innovation in Türkiye. We remain committed to supporting Turkish businesses and strengthening their competitiveness. We consider ICD a strategic partner in this endeavor and look forward to continuing our cooperation in the future”

ICD is dedicated to expanding Shariah-compliant financial solutions across its member countries, reinforcing the global growth of Islamic finance.

Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

Media Contact:
Islamic Corporation for the Development of the Private Sector (ICD)

Nabil Al-Alami
Manager, Communication & Corporate Marketing, ICD
Email: nalami@isdb.org

Ak Finansal Kiralama A.Ş. (AKLease)
Name: Neslihan Solmaz
Title: Corporate Communications Assistant Manager
Email: neslihan.solmaz@aklease.com

About Ak Finansal Kiralama A.Ş. (AKLease):
Established in 1988 as a subsidiary of Akbank, AKLease offers financial leasing solutions across various sectors, including manufacturing, construction, transportation, energy, and healthcare. Known for its commitment to sustainability, AKLease provides significant support to environmentally friendly investments through its unique ECOLease product, the first and only sustainability-themed offering in Türkiye’s leasing sector.

About the Islamic Corporation for the Development of the Private Sector (ICD):
The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development financial institution that supports the economic development of its member countries. ICD is a member of the Islamic Development Bank (IsDB) Group with an authorized capital of $4 billion, ICD’s shareholders include the IsDB, 56 member countries, and five public financial institutions. ICD’s mandate is to promote the economic development of its member countries by financing and encouraging the establishment, expansion and modernization of private sector enterprises and projects in its member countries, promoting competition and entrepreneurship, and encouraging cross-border investments.  The ICD is currently rated ‘A2’ by Moody’s, ‘A+’ by Fitch, and ‘A’ by S&P.

For More information on ICD visit: https://ICD-PS.org.