Category: MIL-OSI

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Government commends citizens for peaceful demonstrations

Source: Government of South Africa

Government commends citizens for peaceful demonstrations

Government has expressed its appreciation to all South Africans who exercised their constitutional right to protest peacefully and responsibly during Tuesday’s migration-related demonstrations, saying it reflects the strength of the country’s democracy.

“We commend citizens, community leaders, organisers, civil society formations, religious leaders and law enforcement agencies for their commitment to peace, restraint and respect for the rule of law throughout the country,” the Government Communication and Information System (GCIS) said in a statement.

Government said that while policing operations have been effective thus far, with demonstrations remaining largely peaceful across the country, police have responded to isolated incidents of looting and attempted looting.

It added that those who exploited the marches to commit criminal acts will face the full might of the law. Police will continue to identify, arrest and prosecute all those responsible for criminal conduct.

“The peaceful conduct displayed today reflects the strength of our democracy and demonstrates that South Africans can voice their concerns firmly and lawfully while respecting the rights and dignity of others.

“Government acknowledges that many citizens have genuine concerns about lack of economic opportunities, irregular migration, service delivery, the challenges of border management and general public safety. These concerns deserve to be heard and addressed systematically through lawful and democratic processes,” it said.

Government also particularly welcomed the fact that most participants rejected violence, vigilantism, intimidation, provocation, looting and damage to property.

“Such actions have no place in a constitutional democracy and undermine the goals of safety and economic prosperity that communities seek to achieve. As government, we wish to reaffirm our unwavering commitment to implementing the Comprehensive Approach for Migration Management as announced by President Ramaphosa.”

The plan focuses on strengthening the enforcement of immigration and labour laws, securing our borders, improving migration management systems, closing legislative and policy gaps, and working with countries across the continent to address migration challenges in a coordinated manner.

Meanwhile, government continues to make substantial progress with the deportation and repatriation of foreign nationals across the affected provinces.

“To date, the latest statistics indicate that we have successfully repatriated 4286 foreign nationals and deported a further 419 in the past few days.

“We want to assure all South Africans that government will continue to actively manage migration through lawful, coordinated and constitutional measures. Our objective remains clear: a South Africa where immigration laws are respected and enforced, where borders are secure, where communities are safe, where businesses compete fairly, and where human dignity and constitutional values are upheld,” said the GCIS.

Government will continue to intensify efforts against criminality, corruption, human trafficking, labour exploitation and all forms of illegality associated with irregular migration, while ensuring that enforcement actions are carried out within the framework of the Constitution and the law.

“We call on all South Africans to remain calm, reject misinformation and xenophobia, and continue working with government and law enforcement agencies to build safe, stable and cohesive communities. We will manage migration in a manner that protects our national interest, promotes the rule of law and advances the values upon which our democracy is founded,” said the GCIS.

The Inter-Ministerial Committee (IMC) on Migration also commended citizens, community leaders, organisers, civil society formations, religious leaders and law enforcement agencies for their commitment to peace, restraint and respect for the rule of law throughout the country.

READ | Law enforcement remains vigilant following ‘largely peaceful’ demonstrations
–SAnews.gov.za

 

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Law enforcement remains vigilant following ‘largely peaceful’ demonstrations

Source: Government of South Africa

Law enforcement remains vigilant following ‘largely peaceful’ demonstrations

Demonstrations against irregular migration around the country remained largely peaceful and non-violent on Tuesday, with law enforcement protecting both marchers and the general public.

This is according to Minister of Justice and Constitutional Development and chair of the Inter-Ministerial Committee (IMC) on Migration, Mmamoloko Kubayi, who led a media briefing of the committee on Tuesday evening.

“Government wishes to express its appreciation to all South Africans who exercised their constitutional right to protest peacefully and responsibly during today’s migration-related demonstrations.

“We commend citizens, community leaders, organisers, civil society formations, religious leaders and law enforcement agencies for their commitment to peace, restraint and respect for the rule of law throughout the country.

“Whilst policing operations have been effective thus far, with demonstrations remaining largely peaceful across the country,” Kubayi said.

Although largely without incident, several people were arrested during the day in connection with incidents of looting and attempted looting across the country.

READ | Several people arrested for looting and attempted looting

Kubayi added that law enforcement remains vigilant and on alert.

“Those who chose to exploit the marches to commit criminal acts will face the full might of the law. Police will continue to identify, arrest and prosecute all those responsible for criminal conduct,” the Minister said.

A government that listens
Kubayi acknowledged that the challenges around irregular immigration present genuine concerns for South Africans.

She assured that government is committed to resolving these challenges.

“Government acknowledges that many citizens have genuine concerns about [a] lack of economic opportunities, irregular migration, service delivery, the challenges of border management and general public safety. These concerns deserve to be heard and addressed systematically through lawful and democratic processes. 

“As government, we wish to reaffirm our unwavering commitment to implementing the Comprehensive Approach for Migration Management as announced by President [Cyril] Ramaphosa,” Kubayi said.
The Comprehensive Approach for Migration Management is a five-point plan announced by the President focussing on:
•    Strengthening the enforcement of immigration and labour laws 
•    Securing South Africa’s borders
•    Improving migration management systems
•    Closing legislative and policy gaps
•    Working with countries across the continent to address migration challenges in a coordinated manner

The plan – and government’s continuous work in this regard – are bearing fruit.

“Government continues to make substantial progress with the deportation and repatriation of foreign nationals across the affected provinces. To date, the latest statistics indicate that we have successfully repatriated 4286 nationals and deported a further 419 in the past few days.

“We want to assure all South Africans that government will continue to actively manage migration through lawful, coordinated and constitutional measures.

“Our objective remains clear: a South Africa where immigration laws are respected and enforced, where borders are secure, where communities are safe, where businesses compete fairly, and where human dignity and constitutional values are upheld,” Kubayi added.

She reiterated government’s assurance that the crackdown on “criminality, corruption, human trafficking, labour exploitation and all forms of illegality associated with irregular migration” remains ongoing.

“We call on all South Africans to remain calm, reject misinformation and xenophobia, and continue working with government and law enforcement agencies to build safe, stable and cohesive communities.
“We will manage migration in a manner that protects our national interest, promotes the rule of law and advances the values upon which our democracy is founded,” Kubayi said.

Vigilance and social cohesion 
Meanwhile, Acting Police Minister Firoz Cachalia said demonstrations occurred in many parts of the country and that they “were almost all peaceful.”

“There were no clashes between the police and demonstrators, which I am pleased about. Where clashes occurred in Yeoville, for instance, those clashes were between different parts of our society. The police did extremely well today, enforcing the law with restraint.

Cachalia said overnight, and in the weeks ahead, police will continue to exercise vigilance. He said he had taken note that marches will continue each Thursday until the next Local Government Elections in November 2026.

On what government is doing in maintaining social cohesion, Minister in the Presidency Khumbudzo Ntshavheni spoke of the importance of the Nation Dialogue.

“The importance of hosting the Nation Dialogue is that South Africans needed to converse with each other, conversations about their challenges but also converse to know each other,” she said.

She added that the protest against illegal immigration is in line with that conversation.
– SAnews.gov.za

 

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Keynote address by Deputy President Shipokosa Paulus Mashatile at the BrainSAT satellite services and Thuraya satellite phone launch, Inanda Club, Sandton

Source: President of South Africa –

Programme Director;
Gauteng Premier, Mr Panyaza Lesufi;
Minister of Communications and Digital Technologies of South Africa, Minister Solly Malatsi;
CEO of BrainSAT Technologies, Mr Adam Essa;
Distinguished Guests;

Good Evening,

Before I proceed with the main address, allow me to reaffirm that as Government we are deeply conscious of the challenges our nation faces. We are working tirelessly to address issues of illegal migration, ensuring that our borders are managed effectively and that the rule of law is upheld. This is not only about protecting our sovereignty, but also about demonstrating that Government listens, cares, and acts in the best interests of all South Africans.

Equally, we are speeding up programmes to build a growing economy that creates jobs for our people. It is this commitment to inclusive growth and opportunity that inspired me to accept the invitation to be here today. Tonight’s occasion is not only about technology, but also about the broader vision of a South Africa where every citizen has the chance to thrive.

I am very proud to be here tonight at the Launch of BrainSAT Satellite Services and Thuraya Satellite Phones. Tonight, we are not just introducing technology, we are witnessing the writing of a new chapter in South Africa’s digital journey.
 
As we turn this page, we cannot forget the lessons of the recent past. Many of us will recall the dark days of the COVID-19 pandemic, when Space42 pioneered a Proof-of-Concept using satellite technology to connect remote clinics to the internet.
 
What was once an emergency lifeline has now become the foundation for a future of universal access, reminding us that innovation born of crisis can become the architecture of renewal. 

Two years later after the COVID-19 pandemic, in April 2024, we journeyed to Dubai and Abu Dhabi in the United Arab Emirates (UAE) on a Working Visit. I was accompanied by the then Deputy Minister of International Relations and Cooperation, Ms Candith Mashego-Dlamini; the then Minister of Justice and Constitutional Development, Mr Ronald Lamola; and the Deputy Minister of Communications and Digital Technologies, Mr Mondli Gungubele.

South Africa maintains positive diplomatic relations with the UAE, evidenced by frequent high-level visits and strong economic collaboration that benefits both nations. 

The UAE is a crucial investor in the South African economy, particularly in transport, logistics, and renewable energy sectors, demonstrating the robust bilateral partnership between the two nations.
 
In 2024, bilateral trade reached US$5.22 billion, emphasising the UAE’s strategic significance as an economic partner for South Africa in the Middle East and indicating potential for further trade and investment collaboration.

Our working visit was not only to strengthen ties but also to seek knowledge, to secure our digital sovereignty, and to ensure that South Africa would not stand at the margins of the digital revolution.

During the visit, we engaged with telecommunications and digital economy experts, aligning with South Africa’s governmental objectives for enhancing technological and digital infrastructure towards Meaningful Universal Connectivity (MUC).
 
The MUC initiative aims to ensure citizens have access to affordable connectivity anytime, anywhere, with the necessary skills and devices to engage safely in the digital economy. 

Notably, the visit included direct engagement with innovative capabilities from Space42 and BrainSAT Technologies, culminating in the signing of a Memorandum of Understanding (MoU) with the Department of Communications and Digital Technologies.

The MoU represent more than a formal agreement. It is a commitment to bring world-class satellite and digital communications solutions to South Africa in service of our people. Tonight, here in Johannesburg, we see that commitment becoming a reality.

The launch of BrainSAT Satellite Services and Thuraya satellite phones mark an important milestone in our nation’s pursuit of secure, resilient and reliable satellite connectivity. 

It is a powerful reminder that when vision aligns with partnership, progress is inevitable. This collaboration is a clear indication of South Africa’s readiness to embrace the digital future as well as positioning our country as a leader in Africa’s digital marketplace.

For us as Government, this launch is more than the unveiling of devices. It is about preserving dignity and ensuring that every child, whether in a rural village or a bustling city, has equal opportunities to learn, to dream, and to succeed.

We want a young boy in a rural village, who once had to walk kilometres just to borrow textbooks from a distant school library, to now have full access to digital connectivity. From his home, he should be able to log into online learning platforms, attend virtual classes, and connect with mentors across the world.

We also want an elderly woman, who used to wait weeks or even months for her children working in the city to visit, to now speak with them daily through video calls. She should be able to receive telehealth consultations without leaving her home and take part in community forums online at the comfort of a home.

As Government, we want these stories to become the lived reality of everyone in remote areas, where connectivity is not a privilege for the few, but a right for all and where opportunity reaches every household, every child, and every elder.

Most importantly, we want to ensure connection availability across South Africa’s most connectivity-dependent sectors such as energy, mining, maritime, and humanitarian operations. Satellite connectivity is essential for maintaining operational continuity and safety in extreme conditions. 

Collaborations with Government and Private Entities will ensure that critical sectors stay connected, thus advancing technological innovations while also protecting the essential lifelines of the economy and society.

However, we must understand that connectivity alone is insufficient. Connectivity must benefit everyone because it is a key engine of upward mobility in this digital age. 

As Chairperson of the Human Resource Development Council, I carry the responsibility to ensure that our young people are not left behind in this digital revolution. That is why I call on BrainSAT and Thurya to invest deeply in training programmes, apprenticeships, and skill development initiatives.

If we equip our youth with the expertise to design, maintain, and innovate within this sector, we secure South Africa’s digital future while empowering a generation to lead in the knowledge economy.

Our partnership must therefore be more about capacity-building, job creation, and nurturing talent so that our youth stand at the forefront of Africa’s digital transformation.

As a government, we are dedicated to enhancing public service accessibility for millions of South Africans. To achieve this, we have implemented the Roadmap for Digital Transformation in Government, aimed at simplifying access to essential services, including grants, ID applications, payment collections, and school registrations. 

The roadmap outlines a strategy for modernising service delivery through investments in shared systems, improved coordination, and the elimination of access barriers.

The launch of Thuraya Satellite Phone and BrainSAT Satellite Services will support the roadmap for digital transformation by providing a resilient infrastructure that supports modern and accessible public services. 

This technological foundation is designed to bridge the digital divide, enhance resilience, and empower citizens, allowing them to access government services with dignity and ease.

Furthermore, the Government views connectivity through the lens of the South Africa Connect programme, which aims to provide universal broadband access to all schools, health facilities, and Government institutions. This initiative focuses on creating an integrated “network of networks” to ensure that connectivity meets the cost and quality requirements of citizens, businesses, and the public sector.

The SA Connect initiative aims to enhance connectivity in remote areas of South Africa through a satellite-based communications network. This complements broadband services and addresses the digital divide in society. 

The National Satellite Communication (SATCOM) strategy, developed by the DCDT with various partners, focuses on establishing a South African-owned satellite system to achieve this goal. Additionally, the SATCOM strategy addresses several government priorities, and the deployment of the satellite system.

The benefits of having a South African-owned satellite system included improved efficiencies in service delivery in rural areas, catalysed economic growth, the development of new industries and markets, the creation of new skills, and increased access to broadband.

We understand that digital connectivity is essential in the modern global ecosystem, as it transforms industries and empowers individuals by breaking geographic barriers. It drives technology and data into practical solutions such as remote education, telemedicine, digital banking, and online trade.

It is the power that ensures our SMMEs are no longer confined to the marketplace of the street corner but are able to trade online, reaching customers far beyond their immediate community.

Ladies and Gentlemen,
 
It is equally important that international companies partner with local enterprises, for it is through such collaboration that the benefits of global innovation are firmly rooted in local empowerment.
 
By working hand in hand with South African companies, these partnerships ensure that advanced technologies are not only introduced but translated into opportunities that strengthen communities, build capacity, and safeguard our nation’s development. This ensures that the benefits of global innovation are rooted in local empowerment.

It is commendable that Space42 brings us world-class infrastructure: the Thuraya-4 NGS satellite, the Foresight SAR constellation, and Yahclick broadband. BrainSAT guarantees the translation of these global innovations into local empowerment. Together, these solutions have the potential to redefine the landscape of connectivity in South Africa, ensuring that every citizen, regardless of geography, can participate fully in the digital age.

As I have often said, reliable broadband and satellite connectivity are not merely technological advances; they are instruments of inclusion. In rural villages, townships and remote communities, they bridge the divide between isolation and opportunity. 

This is the foundation of a resilient digital economy. It equips farmers with real-time weather and market intelligence, enables small businesses to compete in the digital marketplace, and provides young people with access to the skills and opportunities that will define the jobs of the future.

Ladies and gentlemen, digital transformation is no longer a choice, it is an economic imperative. Around the world, it is driving investment, accelerating innovation, creating sustainable employment and improving the delivery of public services. Satellite communications are equally strategic, extending connectivity to underserved communities, strengthening national resilience, and ensuring that no South African is left behind.

Together, digital innovation and satellite connectivity form the foundation of inclusive growth, digital sovereignty and shared prosperity. The partnership between BrainSAT and its collaborators represents more than the launch of new technologies; it represents an investment in our people, our economy and our future.

Let us therefore embrace this moment with confidence and purpose. Together, we can build a digitally connected South Africa that not only transforms lives at home but also contributes meaningfully to Africa’s digital future.

I thank you.
 

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La Société Islamique d’Assurance des Investissements et des Crédits à l’Exportation (SIACE) et la Société Islamique pour le Développement du Secteur Privé (SID) réalisent leur première transaction conjointe de financement syndiqué afin de mobiliser la finance islamique et d’élargir l’investissement du secteur privé dans les pays membres

Source: Africa Press Organisation – French

La Société Islamique d’Assurance des Investissements et des Crédits à l’Exportation (« SIACE »), assureur multilatéral conforme aux principes de la Charia, et la Société Islamique pour le Développement du Secteur Privé (« SID ») (www.ICD-PS.org), branche du secteur privé du Groupe de la Banque Islamique de Développement (« BID »), toutes deux membres du Groupe de la BID, ont célébré la réalisation réussie de leur première transaction conjointe de financement syndiqué en Ouzbékistan. Cette opération marque une étape importante dans le renforcement de la collaboration intra-Groupe.

Cette collaboration historique constitue une avancée majeure dans le renforcement des synergies stratégiques au sein du Groupe de la BID, en combinant les capacités de syndication, de structuration et de financement du secteur privé de la SID avec les solutions d’atténuation des risques de crédit de la SIACE. Ensemble, les deux institutions contribuent à élargir l’accès aux financements conformes aux principes de la Charia, à mobiliser des capitaux privés, à favoriser l’expansion du commerce et à soutenir l’investissement durable du secteur privé dans les pays membres.

Dans le cadre de cet arrangement de syndication novateur, la SID a mené avec succès une facilité de financement syndiqué conforme à la Charia d’un montant de 60 millions de dollars américains en faveur de la Joint Stock Company « Asakabank » (« Asakabank ») en Ouzbékistan, assortie d’une clause d’extension permettant d’augmenter le montant de la facilité. La SIACE a, pour sa part, fourni une couverture d’assurance contre le risque de crédit d’un montant de 30 millions de dollars américains au profit d’une banque koweïtienne, contre le risque de défaut de l’obligé, dans le cadre de la facilité de financement syndiqué de la SID.

Boubyan Bank a participé à cette syndication en tant que seule institution financière koweïtienne, démontrant ainsi son engagement continu en faveur de structures de financement innovantes conformes aux principes de la Charia et du développement du secteur privé régional. Sa participation met en évidence l’intérêt croissant des institutions financières islamiques pour les opportunités de syndication structurée soutenues par des solutions solides d’atténuation des risques.

En combinant l’expertise de la SID dans la structuration et la mobilisation de facilités de financement syndiqué conformes à la Charia avec l’expertise de la SIACE en matière d’atténuation des risques de crédit, cette transaction démontre comment les solutions intégrées du Groupe de la BID peuvent encourager une participation accrue des institutions financières régionales et internationales. Cette collaboration permet non seulement d’accroître la capacité de financement, mais aussi de renforcer la confiance dans le financement syndiqué islamique en tant qu’instrument évolutif au service de la croissance du secteur privé. Elle contribue également à l’objectif plus large visant à permettre aux entreprises d’accéder aux financements nécessaires pour se développer, créer des emplois, renforcer les chaînes de valeur et contribuer à la résilience économique.

Commentant cette étape importante, Dr Khalid Khalafalla, Directeur Général de la SIACE et Directeur Général par intérim de la SID, a déclaré : « Cette première transaction conjointe de syndication entre la SIACE et la SID reflète la solidité de la collaboration au sein du Groupe de la BID ainsi que notre engagement commun à fournir des solutions intégrées et conformes aux principes de la Charia, répondant aux besoins de financement des pays membres. En associant le mandat de la SID en faveur du développement du secteur privé à l’expertise de la SIACE en matière d’assurance contre le risque de crédit, nous contribuons à débloquer des financements, à renforcer la confiance des institutions financières et à orienter les capitaux vers des entreprises et des projets qui favorisent la création d’emplois, la diversification économique et la croissance durable. Cette transaction constitue un précédent important pour la coopération future entre nos institutions et renforce notre rôle collectif dans la réalisation d’un impact concret en matière de développement dans nos pays membres. »

Cette transaction reflète également l’engagement commun de la SIACE et de la SID à élargir l’accès au financement, à renforcer les solutions de finance islamique et à soutenir les opérations qui contribuent à la croissance économique, à la résilience et à l’impact en matière de développement.

En tant que membres du Groupe de la BID, la SIACE et la SID continueront d’approfondir leur collaboration dans le développement de structures de financement islamique innovantes, l’élargissement des plateformes de syndication et la mobilisation de capitaux régionaux et internationaux afin de soutenir le développement du secteur privé, le commerce, les infrastructures et la croissance économique durable dans les pays membres.

Distribué par APO Group pour Islamic Corporation for the Development of the Private Sector (ICD).

Contacts presse :
SIACE : 
E-mail: ICIEC-Communication@isdb.org

Réseaux sociaux : 
Suivez SIACE sur : 
X: https://apo-opa.co/4b1L1jn
Facebook: https://apo-opa.co/3SDNAlt
LinkedIn: https://apo-opa.co/3QPVsj5
YouTube: https://apo-opa.co/4avj2Zd
Instagram: https://apo-opa.co/4xT8BJ7

Suivez la SID sur :
X (@icd_ps)
LinkedIn (@icdps)
Facebook (@icdps)
YouTube (@icdps).

À propos de la SIACE : 
En tant que membre du groupe de la Banque islamique de développement, bénéficiant d’excellentes notations financières, la Société islamique d’assurance des investissements et des crédits à l’exportation (SIACE) a commencé ses opérations en 1994 afin de renforcer les relations économiques entre les États membres de l’Organisation de la coopération islamique (OCI) et de promouvoir le commerce ainsi que les investissements intra-OCI, grâce à des instruments d’atténuation des risques et à des solutions financières conformes aux principes de la Charia. La Société est le seul assureur multilatéral islamique au monde. Elle a joué un rôle de premier plan en proposant une gamme complète de solutions aux entreprises et aux parties prenantes de ses 51 pays membres. Pour la 18ᵉ année consécutive, la SIACE a conservé sa note de solidité financière « Aa3 » attribuée par Moody’s, la classant parmi les leaders du secteur de l’assurance-crédit et des risques politiques. Par ailleurs, S&P a confirmé la note « AA- » pour la troisième année consécutive, avec des perspectives stables. La résilience de la SIACE repose sur une souscription solide, un réseau mondial de réassurance et des politiques rigoureuses de gestion des risques. Au total, la SIACE a assuré plus de 139 milliards USD de transactions commerciales et d’investissements, couvrant des secteurs clés tels que l’énergie, l’industrie manufacturière, les infrastructures, la santé et l’agriculture.

Pour plus d’informations, veuillez visiter : http://ICIEC.IsDB.org       

À propos de la SID : 
La Société Islamique pour le Développement du Secteur Privé (SID) est une institution multilatérale de financement du développement et membre du Groupe de la Banque Islamique de Développement (BID). Créée en novembre 1999 et basée à Djeddah, en Arabie saoudite, la SID soutient le développement économique dans ses 56 pays membres en fournissant une assistance financière aux projets du secteur privé conformément aux principes de la Charia.

Avec un capital autorisé de 4,0 milliards de dollars américains et plus de 26 années d’excellence opérationnelle, la SID complète les activités de la BID en promouvant le développement des marchés de capitaux, les meilleures pratiques de gestion et le renforcement du rôle des économies de marché. La SID bénéficie de solides notations de crédit, à savoir A2 par Moody’s, A+ par Fitch et A par S&P.

Pour plus d’informations, veuillez consulter : www.ICD-PS.org

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Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Islamic Corporation for the Development of the Private Sector (ICD) Pioneer First Joint Syndicated Financing Transaction to Mobilize Islamic Finance and Expand Private Sector Investment in Member Countries

Source: APO

The Islamic Corporation for the Insurance of Investment and Export Credit (“ICIEC”), a Shariah-based multilateral insurer, and the Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-PS.org), the private sector arm of the IsDB Group, both members of the Islamic Development Bank (“IsDB”) Group, celebrated the successful completion of their first joint syndicated financing transaction in Uzbekistan, marking an important milestone in strengthening intra-Group collaboration.

This landmark collaboration represents a significant milestone in strengthening strategic synergy within the IsDB Group by combining ICD’s syndication, structuring and private sector financing capabilities with ICIEC’s credit risk mitigation solutions. Together, the two institutions are expanding the availability of Shariah-compliant financing, mobilizing private capital, trade expansion, and supporting sustainable private sector investment across member countries.

Under this pioneering syndication arrangement, ICD successfully led a USD 60 million Shariah-compliant Syndicated Financing Facility for Joint Stock Company “Asakabank” (“Asakabank”) in Uzbekistan, with an accordion feature to increase the facility size, while ICIEC provided USD 30 million in Credit Risk Insurance coverage in favour of a Kuwaiti bank against the risk of default by the obligor within the framework of the ICD’s Syndicated financing Facility.

Boubyan Bank participated as the sole Kuwaiti financial institution in the syndication, demonstrating its continued commitment to innovative Shariah-compliant financing structures and regional private sector development. Its participation highlights the growing appetite among Islamic financial institutions for structured syndication opportunities supported by robust risk mitigation solutions.

By combining ICD’s expertise in structuring and mobilizing Shariah-compliant syndicated financing facilities with ICIEC’s credit risk mitigation expertise, the transaction demonstrates how integrated IsDB Group solutions can catalyze greater participation from regional and international financial institutions. The collaboration not only expands financing capacity but also strengthens confidence in Islamic syndicated financing as a scalable instrument for supporting private sector growth. It also supports the broader objective of enabling businesses to access the financing needed to grow, create jobs, strengthen value chains, and contribute to economic resilience.

Commenting on the milestone, Dr. Khalid Khalafalla, CEO of ICIEC and Acting CEO of ICD, said: “This first joint syndication transaction between ICIEC and ICD reflects the strength of collaboration within the IsDB Group and our shared commitment to delivering integrated, Shariah-compliant solutions that respond to the financing needs of member countries. By bringing together ICD’s mandate to support private sector development and ICIEC’s expertise in credit risk insurance, we are helping to unlock financing, strengthen confidence among financial institutions, and channel capital towards businesses and projects that contribute to job creation, economic diversification, and sustainable growth. This transaction sets an important precedent for future cooperation between our institutions and reinforces our collective role in delivering tangible development impact across our member countries.”

The transaction also reflects ICIEC’s and ICD’s shared commitment to expanding access to finance, strengthening Islamic finance solutions, and supporting transactions that contribute to economic growth, resilience, and development impact.

As part of the IsDB Group, ICIEC and ICD will continue to deepen collaboration in developing innovative Islamic financing structures, expanding syndication platforms, and mobilizing regional and international capital to support private sector development, trade, infrastructure, and sustainable economic growth across member countries.

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

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

Social Media: 
Follow ICIEC on:
X: https://apo-opa.co/4b1L1jn
Facebook: https://apo-opa.co/3SDNAlt
LinkedIn: https://apo-opa.co/3QPVsj5
YouTube: https://apo-opa.co/4avj2Zd
Instagram: https://apo-opa.co/4xT8BJ7

Follow ICD on: 
X (@icd_ps)
LinkedIn (@icdps)
Facebook (@icdps)
YouTube (@icdps).

About 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 to 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 139 billion in trade and investment. ICIEC’s activities span several key sectors, including energy, manufacturing, infrastructure, healthcare, and agriculture.

For more information, visit http://ICIEC.IsDB.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 26 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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Africa Finance Corporation (AFC) Strengthens Nairobi Platform with Appointment of Fola Fagbule as Pioneer Director and Head of Regional Office

Source: APO

Africa Finance Corporation (AFC) (https://www.AfricaFC.org/), the continent’s leading infrastructure solutions provider, has appointed Fola Fagbule as Director and Head of its Regional Office in Nairobi, marking a significant step in the Corporation’s strategy to expand its presence across East and Central Africa.

In his new role, Fagbule will lead AFC’s activities across the region. AFC is deepening engagement in a region that is expected to play an increasingly vital role in advancing infrastructure development, industrialisation, energy security, digital connectivity, regional integration and capital mobilisation across the continent.

Fagbule joined AFC as an Associate in 2009 and has played a significant role in the Corporation’s evolution into Africa’s leading infrastructure solutions provider. He has led the provision of financial advisory services at AFC since 2017 – originating, structuring and executing transactions valued at more than US$12 billion, including roles on some of the most transformative natural resources, infrastructure, and industrial projects accomplished by AFC and its strategic clients over this period.

His investments and project finance experience spans power, transport, telecommunications, oil and gas, mining, heavy industry, technology, and financial services. He has advised governments, sovereign wealth funds, development finance institutions, pension funds, financial institutions, infrastructure sponsors and corporate clients on various complex transactions. Reflecting his longstanding interest in historical, political and economic forces that shape African development, Fagbule is the co-author of Formation: The Making of Nigeria from Jihad to Amalgamation (2020).

Samaila Zubairu, President and Chief Executive Officer of AFC, commented:“East and Central Africa is home to some of the continent’s most compelling opportunities for economic transformation through infrastructure development, industrialisation, and domestic capital mobilisation. This appointment reflects both the strategic importance of the region to AFC’s future growth and our longstanding commitment to developing leaders from within the Corporation. Fola’s experience, judgment and deep understanding of AFC and Africa’s investment landscape make him exceptionally well positioned to lead our regional platform and expand our engagement across the region.”

As Director and Head of the Regional Office, Fagbule will be responsible for leading AFC’s efforts to originate and develop investment opportunities, deepen strategic partnerships and strengthen relationships with governments, development partners, institutional investors, financial institutions and corporate clients across the region. He will also oversee efforts to expand AFC’s investment pipeline, enhance project development activities, and accelerate the mobilisation of long-term capital into strategic infrastructure and industrial assets. He will be responsible for leading AFC’s scaling up of its operations in the region, following on its recently announced equity investment in the Dhamana Guarantee Company, its strategic role in the expansion of the Dangote Group’s fertilizer and refining operations within the region, and its support for the proposed expansion of the Jomo Kenyatta International Airport.

Prior to joining AFC, Fagbule worked in investment research and corporate finance. He holds a Bachelor of Science degree in Physics and a Masters in Business Administration and has completed executive education programmes at Harvard Business School and Stanford University.

Commenting on his appointment, Fagbule said:

“It is a great privilege to be given this responsibility at such an important moment for AFC and the region. East and Central Africa offer some of the most exciting opportunities for transformational impact across AFC’s sectors of focus. I am excited to build on our strong foundations in the region – working alongside colleagues, friends and partners to accomplish meaningful projects, unlock major investments and deliver lasting economic impact for Africa.”

Distributed by APO Group 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:
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.

Nineteen 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 energy, natural resources, heavy industry, transport, and telecommunications. AFC has 48 member countries and has invested over US$19 billion in 36 African countries since its inception.

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Foreign Minister in Afghan Caretaker Government Meets Qatari Ambassador

Source: Government of Qatar

Kabul, June 30, 2026

HE Minister of Foreign Affairs in the Caretaker Government of Afghanistan Mawlawi Amir Khan Muttaqi met on Tuesday with HE Ambassador of the State of Qatar to Afghanistan Dr. Mirdef bin Ali Al Qashouti.
The meeting discussed the latest developments in Afghanistan and ways to support the Afghan people. 

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Minister of State for Foreign Affairs Meets Minister of Foreign Affairs of Union of the Comoros

Source: Government of Qatar

Doha, June 30, 2026

HE Minister of State for Foreign Affairs Sultan bin Saad Al Muraikhi met on Tuesday with HE Minister of Foreign Affairs and International Cooperation of the Union of the Comoros Mbae Mohamed, who is visiting Qatar.

The meeting discussed bilateral cooperation relations and ways to enhance and develop them, along with a host of topics of mutual interest. 

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President Ramaphosa to officiate Google Cloud Summit and investment announcement

Source: President of South Africa –

President Cyril Ramaphosa will on Wednesday, 01 July 2026, officiate the first Google Cloud Summit in Africa at the Sandton Convention Centre in Johannesburg.

The Google Cloud Summit brings together global technology innovators, African policymakers, and industry captains.

The event is designed to showcase the transformative potential of Cloud Computing and Artificial Intelligence.

The Summit is convened under the theme “Google Cloud is building for Africa”, which will encompass launching new investment announcements in South Africa.

In March this year, President Ramaphosa convened the 6th South Africa Investment Conference under the 3 D’s framework, namely; Decarbonisation, Digitisation and Diversification, with the Ease of Doing Business being a cross-cutting theme.

The President also launched the second Presidential investment mobilisation drive with a target of R2 trillion in new investment from 2026 to 2030.

Google’s investment announcements are designed to directly support South Africa’s investment drive, advance The Presidency’s Digital Public Infrastructure (DPI) agenda, and reinforce collaborative public-private efforts around AI skilling and national policy development across Sub-Saharan Africa.

President Ramaphosa will officiate and deliver keynote address to the Google Cloud Summit and investment announcement as follows:

Date: Wednesday, 01 July 2026
Time: 09h00
Venue: Sandton Convention Centre, Johannesburg

Media enquiries: Vincent Magwenya, Spokesperson to the President – media@presidency.gov.za

Issued by: The Presidency
Pretoria

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How oil turned the motors of capitalism: a history

Source: The Conversation – Africa – By Imraan Valodia, Pro Vice-Chancellor, Climate, Sustainability and Inequality and Director, Southern Centre for Inequality Studies, University of the Witwatersrand

The vulnerability of the world economy to oil prices was painfully visible in the first half of 2026 following the US and Israel war against Iran. The power of this commodity to upend economies has been apparent before. In his recently published book Crude Capitalism: Oil, Corporate Power, and the Making of the World Market, political economist Adam Hanieh provides an expansive history of the connections between oil and capitalism since the 1800s. Economist Imraan Valodia asked him about the book.

What was your motivation for writing this book?

A main motivation was a dissatisfaction with many of the standard ways of discussing the history of oil and its place in the global economy. Much of the dominant narrative around oil tends to invest it with some kind of innate power, separate from the social and economic logics of capitalism.

What I try to do in the book is foreground what these are. Things like the drive towards endless accumulation, the incessant speeding up of production and consumption, mechanisation and so forth. And I ask how these qualities have served to centre oil in our energy system.

So the book is not just a history of oil, but a history of capitalism seen through oil.

I also wanted to move beyond histories that are overwhelmingly focused on the US. It is obviously crucial to the story. But our oil-centred world was made through wider global relations. These included colonial extraction, the development of the Soviet oil industry, the transformations of post-Soviet Russia and, more recently, the rise of China and East Asia as central nodes in global energy demand, refining and petrochemical production.

Another major concern of the book is tracing what oil becomes after it is pumped from the ground, beyond simply a liquid transport fuel. So I examine areas such as the petrochemical industry (plastics, fertilisers, synthetic fibres and so forth) as well as oil’s crucial place in the contemporary financial system.

How important was the rise of the oil industry in the US, specifically the rise of Standard Oil?

Standard Oil (1870-1911) was owned by the Rockefellers. It established many of the organisational forms that would later define the global oil industry. John D. Rockefeller’s key insight was to grasp the power that came from controlling the whole value chain through which oil moves. Standard Oil integrated refining, transport, storage, pipelines, marketing and finance into a single corporate structure. It used its command over railroads and later pipelines to squeeze competitors, lower costs and shape the market around itself. Much of the subsequent history of the oil industry revolves around this basic lesson – corporate power comes from vertical integration, and the ability to control the infrastructures through which oil circulates.

The corporate structures built up around Standard Oil were closely connected to the wider architecture of American capitalism. Tax systems, corporate law, banking, capital markets and state policy all became central to how oil companies grew and operated. The later global dominance of US oil firms was built on these wider innovations, and remained closely tied to support from the US state.

We can see the legacy of this today. Many national oil companies, especially in the Gulf monarchies, are now pursuing similar strategies of vertical integration.

When did the Middle East emerge as a key player?

Anglo-Persian Oil Company (APOC), which was founded by Britain in 1908, exemplified the relationship between oil extraction and colonialism. The company’s rise in Iran depended on concessionary agreements protected by imperial power. Britain’s interest in Persian oil was closely tied to the needs of empire, especially the fuelling of the Royal Navy.

APOC became a way of linking Middle Eastern oilfields to British military and industrial strength. This set a precedent for the wider Middle East, where a handful of foreign oil companies sought long-term control over oil reserves, infrastructure, pricing and export routes.

This also shaped the subsequent political history of the Middle East. Oil became a focal point for struggles over sovereignty because foreign control of the industry revealed the limits of formal independence. Producer governments were often constrained by companies that controlled technical expertise, transport, marketing and access to world markets. In response, different forms of oil nationalism emerged, from demands for a greater share of revenues to full nationalisation.

Iran’s attempt to nationalise oil in 1951 under Mohammad Mossadegh is the most famous example. But the broader pattern was regional. Across the Middle East, oil became a battlefield for states and nationalist forces to challenge colonial domination and foreign corporate power.

The formation of the Organization of the Petroleum Exporting Countries (Opec) in 1960 and the later rise of national oil companies has to be understood against this background.

He sits at the intersection of finance, empire and the making of the modern oil industry. He was an Armenian businessman born in the Ottoman Empire, educated partly in Europe, who became one of the most influential intermediaries of early 20th-century oil. His nickname, “Mr Five Per Cent”, came from the 5% stake he secured in the Turkish Petroleum Company, the consortium that eventually gained control over Iraq’s oil. Unlike the other members of that consortium, Gulbenkian did not own a major oil firm, but he was able to broker the agreements through which the big western companies divided up access to Middle Eastern reserves. He was also very skilled at writing himself into history in dramatic and fanciful ways.

He is especially associated with the 1928 Red Line Agreement, in which the main shareholders of the Turkish Petroleum Company agreed not to develop oil independently across much of the former Ottoman Empire without the others. This was a key moment in the cartelisation of world oil, in which the control of oil (including pricing) came under the sway of a handful of large firms. The Red Line Agreement linked Middle Eastern oil to these international oil companies who fully managed production, prices and market access on a global scale. Gulbenkian’s 5% share is thus a window into how the oil industry was built through networks of imperial diplomacy and corporate collusion at the time of the break-up of the Ottoman Empire.

What were the implications of the 1973 oil shock, during which oil prices quadrupled following an embargo by some Arab oil producing states?

It marked a rupture in the world economy because it revealed that the old structure of the international oil industry was no longer sustainable. For much of the 20th century, the global oil industry was controlled by just seven western companies, the so-called Seven Sisters. They controlled the extraction of oil in the Middle East and elsewhere, as well as its refining, pricing, transport and marketing. But by the early 1970s, this system was being challenged by producer governments, especially in the Middle East and Latin America, and by the growing assertiveness of Opec.

The dramatic increase in oil prices after 1973 was a sign of this shift in power towards oil-producing states.

The implications were enormous. Higher oil revenues generated vast financial surpluses in the Gulf and other producer states, and these surpluses were managed and invested through the international financial system. They were recycled through US and European banks, invested in dollar-denominated assets, placed in US Treasury securities, and channelled into equities, real estate and other financial markets. This helped strengthen the position of the dollar and deepened the role of American financial institutions in the world economy. In this sense, the oil shock played a major role in creating the global financial architecture that we live with today.

Saudi Arabia was especially important in this process. The consolidation of the US-Saudi relationship in the 1970s linked oil, finance and military power very tightly together. Oil continued to be priced in dollars, which reinforced global demand for the US currency. Gulf surpluses flowed into American markets, while the Gulf monarchies became major purchasers of US weapons and military services. The consolidation of oil as the world’s leading fossil fuel was therefore increasingly intertwined with the reproduction of American power.

Why are you critical of the net zero emissions framework that’s key to climate change policy?

My criticism of the “net zero” concept is that it makes the climate crisis appear as a technical or accounting challenge, rather than a systemic crisis rooted in the dynamics of capitalism itself. The term entered the mainstream climate policy vocabulary through the Paris Agreement in 2015. In its basic form it means balancing ongoing greenhouse gas emissions with equivalent removals of carbon from the atmosphere. That might involve forests, soils, carbon capture and storage, or technologies that directly remove carbon from the air.

The problem is that this shifts attention away from the urgent need to reduce fossil fuel production and consumption in absolute terms. It allows companies and governments to say they are moving towards “net zero” while still expanding oil and gas extraction, as long as those emissions are, in theory, offset somewhere else.

Many net zero strategies rely heavily on carbon capture and storage. This technology remains unproven at the scale required to deal with the volume of emissions produced by global fossil fuel use. Historically, carbon capture has often been used for oil recovery: captured carbon is injected into oilfields to extract more oil. So a technology presented as a climate solution actually becomes a means of extending fossil fuel production. Another important example of a false “solution” presented within the net zero framework is carbon offset projects. These turn forests and other ecological systems into financial assets that can be counted against emissions elsewhere. These projects have been linked to land dispossession and numerous scandals, including some across the African continent, and often rely on highly dubious accounting schemes.

– How oil turned the motors of capitalism: a history
– https://theconversation.com/how-oil-turned-the-motors-of-capitalism-a-history-286072