Category: MIL-OSI

Source: APO

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The Chairperson of the African Union Commission, H.E. Mahmoud Ali Youssouf, extends his warmest congratulations to the Government and people of the Republic of Equatorial Guinea on the occasion of their Independence Day.

This historic day is a moment of pride and reflection, celebrating Equatorial Guinea’s enduring journey toward freedom, unity, and nation-building. The African Union salutes the resilience, determination, and achievements of the people of Equatorial Guinea, and reaffirms its solidarity with their aspirations for peace, stability, and inclusive development.

The African Union remains steadfast in its commitment to working closely with Equatorial Guinea to advance regional integration, promote sustainable growth, and uphold the shared values of Pan-Africanism, unity, and cooperation.

Happy Independence Day!

Distributed by APO Group on behalf of African Union (AU).

Source: APO

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• Somalia has maintained strong reform implementation and program performance. IMF staff and the Somali authorities have reached a staff-level agreement on the 4th review of Somalia’s Extended Credit Facility (ECF) arrangement.
• Somalia’s economy continues to show resilience, despite external headwinds, and the 2025-26 growth is expected to reach 3-3¼ percent. However, the near-term economic outlook is clouded by foreign aid cuts and adverse climate events. The authorities requested an augmentation of access under the ECF arrangement to mitigate the negative impact of these shocks and support their policy efforts, including expanding social spending.
• Advancing reforms along with continued assistance from international partners remains critical to support Somalia’s efforts to secure a more robust and sustainable economic future.

An International Monetary Fund (IMF) team, led by Ran Bi, conducted discussions with the Somali authorities, led by H.E Bihi Egeh during September 16 – October 8, 2025, and reached a staff-level agreement on the fourth review under the Extended Credit Facility (ECF) arrangement. This agreement is subject to approval of the IMF’s Executive Board.

At the conclusion of the discussions, Ms. Bi issued the following statement:

“I am pleased to announce that the Somali authorities and the IMF team have reached a staff-level agreement on policies to complete the fourth review under the ECF arrangement approved in December 2023 for total access of SDR 75 million (about US$100 million) (Press Release No. 23/463). To mitigate the negative impact of foreign aid cuts and support their reform efforts, the authorities have requested an augmentation of access under the ECF arrangement of SDR 30 million (about US$40 million), to be disbursed in equal tranches at the conclusion of the 4th and the 5th ECF review, respectively. The agreement is subject to approval by the IMF’s Executive Board. Board approval would enable access to SDR 22.5 million (about US$30 million), bringing total disbursements under the arrangement to about US$100 million.

After robust growth of 4.1 percent in 2024, economic prospects have weakened in 2025 – 26 amid significant foreign aid cuts and adverse weather shocks. Real GDP growth is projected at 3 and 3.3 percent in 2025 and 2026, respectively. Inflation is expected to remain stable at around 3.5 percent, while food price pressures are more elevated. Downside risks continue to dominate the near-term outlook, including from protracted foreign aid disruptions and weather shocks which could further worsen the economic outlook.

Despite the difficult economic environment, the authorities remain committed to improving domestic revenue and maintaining fiscal discipline. Fiscal outturn in 2025 has been broadly in line with expectations. In particular, income tax collection has been strong, following the enactment of the new income tax law, and expenditure has remained well within the program target. An overall deficit of 0.3 percent of GDP is expected for 2025. The preliminary 2026 budget plan envisages continued progress in domestic revenue mobilization and expenditure discipline while accommodating additional security and election-related spending. It will also support an expansion of social spending using budget resources to mitigate the negative social impact of foreign aid cuts. With these plans, the overall fiscal deficit in 2026 is projected to be around ¾ percent of GDP.

Fiscal structural reforms have progressed steadily. Key domestic revenue reforms include the ongoing customs modernization and enforcement, implementation of the new income tax law, and improving enforcement of sales and income tax collection. Debt and public financial management should continue to strengthen. The authorities are also building capacity to implement the recently completed legal framework to ensure transparency and accountability in the extractive industries.

The Central Bank of Somalia (CBS) has continued to strengthen its institutional capacity and regulatory framework, promote financial deepening and advance the preparation for the currency exchange and the currency board arrangement. Steady progress has also been made to further strengthen the AML/CFT framework and improve governance.

Continued assistance from multilateral and bilateral partners remains crucial to support the authorities’ policy efforts, especially in light of the high uncertainty and significant downside risks.

The mission would like to thank our counterparts for a constructive and fruitful dialogue. Meetings were held with the Minister of Finance, the Central Bank Governor, other government officials, development partners and private sector representatives.”

Distributed by APO Group on behalf of International Monetary Fund (IMF).

Source: APO

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Today, President Abdel Fattah El-Sisi received Chairman of the China National Chemical Engineering Corporation (CNCEC), Mr. Mo Dingge. The meeting was attended by Prime Minister Dr. Mostafa Madbouly, Minister of Petroleum and Mineral Resources Eng. Karim Badawi, as well as Vice Chairman of the CNCEC Group, Mr. Wu Xiangong, and the Chairman of TCC Company.

The Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said that , at the beginning of the meeting, President El-Sisi praised the strength and distinction of Egyptian-Chinese relations. The President reaffirmed Egypt’s keenness to consolidate economic and investment cooperation with China and with Chinese companies across various fields of mutual interest. 

President El-Sisi expressed appreciation for the existing cooperation with the CNCEC Group, emphasizing that the Egyptian state will work to facilitate the procedures for implementing the company’s project in Egypt for producing the soda ash.

The Chairman of the Chinese CNCEC Group reviewed the company’s expertise in the field of petrochemicals. He confirmed that the company is looking forward to cooperating with the Egyptian government to expand the company’s investments in Egypt. President El-Sisi welcomed this, stressing that the state offers many benefits and incentives to foreign and local investors and is also working to attract more foreign direct investments. 

The President affirmed that the Sodium Carbonate (Soda Ash) project is considered one of the strategic projects of significant importance to Egypt, given its pivotal role in supporting self-sufficiency for local industries and reducing imports. The President expressed his confidence in TCC’s ability to execute the project with high efficiency in accordance with the highest international standards.

Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.

Source: APO

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The Chairperson of the African Union Commission, H.E. Mahmoud Ali Youssouf, congratulates H.E. President-elect Patrick Herminie on his electoral victory in the 2025 Presidential Elections in the Republic of Seychelles.

The AUC Chairperson commends the people of Seychelles for their peaceful and orderly participation in this credible democratic process, which underscores the country’s strong commitment to the rule of law and democratic principles.

The AUC Chairperson also applauds the other candidates, including the outgoing President, for their respect for the electoral process and for upholding the spirit of peaceful political competition.

Furthermore, the AUC Chairperson extends his appreciation to the AU-COMESA Joint Election Observation Mission (EOM), led by His Excellency Pakalitha Bethuel Mosisili, Former Prime Minister of the Kingdom of Lesotho, and to other international observers for their contribution to the transparency and credibility of the electoral process.

The AUC Chairperson reaffirms the African Union’s commitment to supporting the Republic of Seychelles and stands ready to collaborate with the new administration. He reiterates the AU’s broader commitment to the implementation of Agenda 2063, which is founded on the promotion of constitutional democracy, good governance, and political stability across all Member States.

Distributed by APO Group on behalf of African Union (AU).

Source: APO

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The AMAN Union, the leading professional forum for commercial and non-commercial insurance and reinsurance companies across the member states of the Organization of Islamic Cooperation (OIC), will hold its 15th Annual Meeting from November 4 to 6, 2025.

The event will be hosted by the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank (IsDB) Group, at its headquarters in Jeddah, Kingdom of Saudi Arabia.

The annual meeting will bring together senior professionals and experts in credit and investment insurance, information exchange, collections, and risk management. Participants will engage in in-depth discussions on strategies to strengthen credit insurance, promote trade exchange, develop partnerships, and explore new opportunities to enhance risk management and insurance services in the region — reflecting a shared commitment to fostering regional economic integration.

Dr. Khalid Khalafallah, CEO of ICIEC, stated: “We are honored to host the 15th Annual General Meeting of the AMAN Union in Jeddah. This gathering provides an exceptional platform for institutions and companies specializing in insurance and reinsurance against commercial and non-commercial risks across OIC member states, alongside the Arab Investment and Export Credit Guarantee Corporation (Dhaman), to exchange insights, experiences, and strategies aimed at strengthening credit insurance and trade exchange across Arab and Islamic countries. This year marks the fifteenth anniversary of the Union, which has played a pivotal role in fostering cooperation and innovation, benefiting its members and supporting regional economic integration.”

Mr. Mourad Mizouri, Secretary General of the Aman Union, added: “Over the past fifteen years, the General Secretariat has advanced its services and institutional efficiency, supporting members through capacity-building initiatives, knowledge exchange, and specialized events. The AMAN Union has established itself as a premier professional platform, and we are pleased to announce that the General Secretariat will be transferred next year to the Saudi Export-Import Bank. This move marks a new phase of growth and development, further strengthening the Union’s role in promoting economic cooperation and integration among its members.”.

The 2025 Annual General Meeting will feature keynote addresses, networking sessions, and specialized committee’s meetings. Discussions will address key topics such as debt structuring, export credit, risk management, and the integration of artificial intelligence in the insurance sector. Participants will also examine the critical role of credit information in mitigating risks and optimizing trade credit recovery.

This event presents a unique opportunity for participants to engage with industry leaders, gain insights into emerging market trends, and identify innovative solutions to the sector’s challenges.

The AMAN Union remains steadfast in its commitment to promoting best practices, good governance, and capacity-building initiatives, thereby contributing to the sustainable development of the risk insurance industry across its member states.

Distributed by APO Group 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 AMAN UNION:
The AMAN Union is a professional forum that brings together insurers and reinsurers covering commercial and non-commercial risks in the member countries of the Organization of Islamic Cooperation (OIC) and the Arab Investment and Export Credit Guarantee Corporation (Dhaman). The Union was established on October 28, 2009, following a bilateral agreement between Dhaman and the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) to unify their efforts in creating a platform that enhances cooperation among insurers and reinsurers operating within their respective member countries.

Read more at www.AMANUnion.org

Source: APO

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The Chairperson of the African Union Commission, H.E. Mahmoud Ali Youssouf, is following with deep concern the recent political and security developments in the Republic of Madagascar, marked by movements within the army and popular demonstrations in Antananarivo.

The Chairperson of the Commission welcomes the Government’s renewed commitment to dialogue and urges all Malagasy stakeholders, both civilian and military, to exercise calm and restraint, and to prioritize peaceful and consensual solutions to the current situation. He calls for the full respect of the fundamental rights and freedoms of all citizens.

The Chairperson recalls the principles enshrined in the Lomé Declaration of 2000 and in the African Charter on Democracy, Elections and Governance. He calls upon all Malagasy parties to demonstrate responsibility and patriotism, and to work towards the preservation of unity, stability, and peace in the country, in full respect of the Constitution and established institutional frameworks.

The Chairperson reaffirms the solidarity of the African Union with the people and Government of Madagascar in these difficult times, and expresses the readiness of the continental organization to support national and regional efforts aimed at a rapid return to institutional normalcy, stability, and the consolidation of peace.

Distributed by APO Group on behalf of African Union (AU).

Source: APO

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President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to Teodoro Obiang Nguema Mbasogo, President of the Republic of Equatorial Guinea, on the occasion of his country’s Independence Day.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, dispatched similar messages to the President of Equatorial Guinea, and to Prime Minister Manuel Osa Nsue Nsua on the occasion.

Distributed by APO Group on behalf of United Arab Emirates, Ministry of Foreign Affairs.