Category: MIL-OSI

Source: APO

The European Union (EU) has launched the I’ve Got the Power campaign in Kenya, celebrating the strong collaboration between Kenya and the EU for a more prosperous and sustainable future for all. The campaign focuses on the shared commitment to accessible, reliable clean energy and the transformative impact of EU-supported initiatives in Kenya, which aim to provide renewable solutions for individuals and local communities.

The EU’s Global Gateway investment strategy represents the backbone of the campaign, exemplified by initiatives like the Last Mile Connectivity Programme. This programme is expanding electricity access in rural Kenya by connecting households located near distribution transformers to the national grid. By delivering reliable, cleaner power to families, schools and small businesses across 32 counties, the initiative supports Kenya’s universal electrification goals and reduces dependence on polluting fuels. It plays a vital role in advancing the country’s clean energy transition while improving health, education and economic opportunities in underserved communities.

Henriette Geiger, European Union Ambassador to Kenya, says:

 “The transition to renewable energy is not just about reducing carbon emissions; it’s about creating a more sustainable future for the people, the planet, and local economies. Through this campaign, we want people to not only understand the importance of sustainable energy but also, to realise how this transition can positively impact their lives and future.”

Renewable energy is transforming lives across Kenya, empowering communities through sustainable and reliable infrastructure. For fashion designer Austin, the impact is personal – reliable electricity ensures his workshop runs without power interruptions, enabling him to meet client demands and grow his business. Similarly, Catheline, a boda boda rider, now uses an electric bike to run her delivery business, helping her earn a stable income. These real-life examples highlight how renewable energy not only supports environmental goals but also enhances public safety and nurtures local talent. Discover more about the campaign and inspiring stories of sustainable energy at energyoftomorrow.ke. 

Kenya’s progress is part of a broader vision for Africa – one championed by European Commission President Ursula von der Leyen and South African President Cyril Ramaphosa who lead the Scaling up Renewables in Africa pledging campaign. Africa has the potential to lead the global clean energy transition, yet millions across the continent still lack access to electricity. This campaign, delivered through the EU’s Global Gateway, seeks to change that by accelerating access to clean, reliable power while creating jobs and driving long-term development.

Distributed by APO Group on behalf of Delegation of the European Union to Kenya.

Source: APO – Report:

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (http://ICIEC.IsDB.org), a Shariah-compliant multilateral insurer and member of the Islamic Development Bank (IsDB) Group, announced the signing of a facultative reinsurance agreement with Takaful Libya during the IsDB Group Day in Libya scheduled on 23 September 2025. The agreement enhances Takaful Libya’s capacity to underwrite Shariah-compliant export credit risks, thereby supporting the growth of Libyan exporters and contributing to the country’s economic recovery.

Under the arrangement, ICIEC will provide facultative reinsurance to selected export transactions insured by Takaful Libya. This will enable Takaful Libya to extend broader coverage to exporting companies and banks involved in cross-border trade, strengthening their resilience against payment risks and facilitating access to new markets.

“This agreement reflects ICIEC’s mandate to de-risk trade across our Member States by empowering local partners,” said Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC. “By extending export credit reinsurance capacity and know-how to Takaful Libya, we will help Libyan exporters safeguard their receivables, strengthen their competitiveness in global markets, and contribute to rebuilding national trade flows in line with the development of Libyan external trade.” he added.

“There is no doubt that the services provided by ICIEC are of immense importance in supporting the economic development of member countries. One of the Corporation’s key missions is to strengthen and encourage exports by offering vital insurance coverage that empowers businesses to grow beyond borders. For Libya, this agreement represents more than just a financial arrangement—it is a new avenue of opportunity, a platform to boost and promote our exports, and a stepping stone toward greater economic growth. We are confident that this partnership will be a strong pillar in supporting Libya’s development journey, and we look forward to seeing more initiatives of this kind in the future, initiatives that do not only protect our economy but actively drive it forward.” Stated Mr. Bashir Ali Khallat, General Manager, Takaful Insurance Company.

The partnership also paves the way for technical collaboration on key areas of underwriting, credit risk assessment, capacity building, and claims management. ICIEC’s support will allow Takaful Libya to strengthen its offerings to corporates and financial institutions while reinforcing prudential requirements.

The signing at IsDB Group Day highlights the Group’s commitment to building partnerships that mobilize trade and unlock opportunities across Member States. ICIEC and Takaful Libya will begin implementing the agreement immediately, with a focus on high-impact export sectors aligned with Libya’s national priorities.

– on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

Contact:
Email: ICIEC-Communication@isdb.org

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About The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC):
As a member of the Islamic Development Bank (IsDB) Group, ICIEC commenced operations in 1994 to strengthen economic relations between OIC Member States and promote intra-OIC trade and investment by providing credit enhancement and risk mitigation solutions. The Corporation is the only Islamic multilateral insurer in the world and has been at the forefront of delivering a comprehensive suite of de-risking solutions to support cross-border trade and investment for its 50 Member States. ICIEC has maintained its “Aa3” rating with a stable outlook from Moody’s for 17 consecutive years, positioning the Corporation among the leaders in the Credit and Political Risk Insurance (CPRI) industry. Additionally, S&P has reaffirmed ICIEC’s “AA-” rating for the second year with a stable outlook. ICIEC’s resilience is underpinned by its sound underwriting practices, global reinsurance network, and strong risk management framework. Since inception, ICIEC has cumulatively insured over USD 121 billion in trade and investment, supporting key sectors such as energy, manufacturing, infrastructure, healthcare, and agriculture in its member states.

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

About Takaful Insurance Company:
Takaful Insurance Company was established in 2007 with an initial capital of ten million Libyan Dinars. In 2023, the capital was increased to fifteen million Libyan Dinars, with subscriptions made by businessmen and investors. In 2012, the company was fully transformed into a Takaful insurance model, thus becoming the first Takaful insurance company in Libya. It operates strictly in accordance with the provisions of Islamic Sharia, offering all types of insurance coverage based on these principles. The company has a dedicated Sharia Supervisory Board that ensures full compliance with the rules and objectives of Islamic Sharia.

Source: APO – Report:

Launched under the Global Africa Business Initiative (GABI) during the UN General Assembly, the ‘Africa Saving for Growth’ programme brings together social security institutions from 15 countries, Morocco’s CDG Group, and the Africa Finance Corporation (AFC) (www.AfricaFC.org) to build a policy reform roadmap, expand Africa’s capital-pools dataset, and increase allocation to infrastructure and private sector-led projects in Africa.

Africa Finance Corporation (AFC) and Africa Social Security Association (ASSA) today launched a collaborative continent-wide initiative to mobilise African institutional savings into long-term infrastructure, building on AFC’s 2025 analysis identifying at least $1.17 trillion in institutional assets across Africa.

The ‘Africa Saving for Growth’ programme was introduced today under the auspices of the Global Africa Business Initiative (GABI), part of the UN Global Compact. It prioritises specific deliverables that international investors and policymakers can act on:

• Open capital-pools database: Maintain and regularly update the most comprehensive, market-accessible dataset on African institutional savings, including pension funds, insurance, social security institutions, public development banks and sovereign wealth funds.
• Policy reform roadmap: Practical recommendations—prudential guidelines, risk-sharing mechanisms, and intermediation vehicles—that enable pension and social-security funds to invest in infrastructure while preserving asset-liability matching.
• Savings mobilisation playbook: Country-level strategies to increase formal participation and reduce the drag from large informal economies.
• Allocation diversification models: Pathways to shift portfolios away from short-term, low-yield instruments that concentrate public-sector exposure and crowd out private enterprise.
• High impact projects that can catalyse social and economic development in African countries by connecting people, countries, boost productivity and improve quality of life of the people in Africa and ensure Pension Funds sustainability.

The research and advocacy initiative is delivered with leading long-term savings institutions, including the Africa Social Security Association (ASSA)—bringing together national social security funds from 15 countries with more than $54 billion in pension assets—and CDG Group (Morocco), one of the continent’s most influential stewards of long-duration capital.

“Africa-led investment is the most effective way to quickly achieve the scale of transformation we need while catalysing international support for the continent’s infrastructure”, said Samaila Zubairu, President & CEO of AFC. “This initiative is about Africans coming together to put our own capital to work for Africa’s growth. By joining forces, our pension funds and financial institutions can unlock new opportunities, drive development, and demonstrate the power of collective action to build the continent’s future – without compromising fiduciary duties.”

AFC’s 2025 findings show that pension and social-security portfolios across many markets are under-leveraged for development, concentrated in short-tenor instruments that limit returns and private-sector financing. The Africa Saving for Growth programme will surface replicable lessons from successful national models and chart a pragmatic route to risk-managed, long-duration allocations.

“This alliance is a pivotal step for Africa’s long-term savings community—bringing together pension, social security, and other institutional investors,” said Meshach Bandawe, Secretary General of the Africa Social Security Association (ASSA). “This initiative reflects the ambition of the African Union’s Agenda 2063: building a prosperous and inclusive Africa, underpinned by vibrant domestic and regional financial markets, connected by modern infrastructure and powered by shared growth.”

“African pension funds and institutional investors face the challenge of harnessing domestic savings and transforming them into a true driver of economic and social development, particularly through infrastructure financing. We work closely with sister organizations across Africa to align efforts, share expertise, and unlock the full potential of long-term capital in the service of responsible development,” said Khalid Safir, Director General, Caisse de Dépôt et de Gestion (CDG).

– on behalf of Africa Finance Corporation (AFC).

Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile +234 1 279 9654
Email: yewande.thorpe@africafc.org

About AFC:
Africa Finance Corporation (AFC) was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.

Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.

www.AfricaFC.org