Operation New Broom makes progress in Limpopo

Source: Government of South Africa

Operation New Broom makes progress in Limpopo

The Department of Home Affairs’ Operation New Broom has nabbed 73 illegal foreign nationals in Limpopo.

“On Thursday, 7 August 2025, the Minister of Home Affairs, Dr Leon Schreiber, led Operation New Broom to the province of Limpopo. The operation led to the arrest for deportation of 73 illegal immigrants,” the Ministry of Home Affairs said.

Schreiber launched Operation New Broom earlier this year, with the aim of intensifying enforcement operations across the country as part of Home Affairs’ intensified efforts to restore the rule of law. 

“The growing impact of Operation New Broom, which utilises biometric technology to speed up verifications and focuses on hotspot areas around the country, demonstrates the commitment of Home Affairs to enforce the rule of law. The message to those who are in our country illegally is simple: voluntarily self-deport now before we arrest you and ban you from entering South Africa legally in future,” said the Minister.

Cabinet welcomed the launch of the technology-driven initiative in May. 

READ | Cabinet welcomes the launch of Operation New Broom

The latest multi-stakeholder operation, involving the Department of Home Affairs, the South African Police Service, the Department of Social Development and the Department of Labour and Employment, took place at a mall in the Lebowakgomo area in the Capricorn District.

During the operation, multiple businesses were found to be employing foreign nationals that had no documentation to be in South Africa legally. 

According to the ministry, the 73 are currently being processed for deportation. – SAnews.gov.za 

Edwin

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President Ramaphosa speaks to President Putin

Source: President of South Africa –

President Cyril Ramaphosa has this afternoon, 7 August 2025, held a telephone discussion with President Vladimir Putin of the Russian Federation.

The discussion followed President Putin’s request to brief President Ramaphosa on the peace process with Ukraine and to engage on issues of mutual bilateral interest. 

President Putin expressed his recognition and appreciation for South Africa’s involvement in advancing a peace process between Russia and Ukraine. 

President Ramaphosa welcomed the briefing and expressed South Africa’s full support to peace initiatives that will end the war and contribute to a lasting peace between Russia and Ukraine. 

The two leaders agreed to further their discussions on moving forward the strategic relationship between their two countries. 

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

Issued by: The Presidency
Pretoria

Keynote address by Deputy President Shipokosa Paulus Mashatile during the 38th anniversary of the Battle of Lurhwayizo and the unveiling of a bronze bust of Mbulelo Ngono, Mbashe Local Municipality, Eastern Cape Province

Source: President of South Africa –

Programme Director, MEC Sibulele Ngongo;
Family of Mbulelo Ngono;
Families of Kenny Jafta and Mazizi Maqekeza;
Eastern Cape Premier, Mr Oscar Mabuyane;
His Majesty Kumkani Vulikhaya Sigcawu: Aah! Vulikhaya!
Minister of Defence,  Ms Angie Motshekga;
Minister of Land Reform and Rural Development, Mzwanele Nyhontso;
Minister of Basic Education, Ms Siviwe Gwarube;
COGTA Deputy Minister, Mr Zolile Burns-Ncamashe;
SALGA President, Cllr Bheki Stofile;
Mbhashe Local Municipality Executive Mayor, Cllr Samkelo Janda;
Amathole District Executive Mayor, Cllr Anele Ntsangani;
Our esteemed Traditional Leaders Present;
Community of Lurhwayizo;
uMkhontho We Sizwe Combatants, the true Spear of the Nation;
Ladies and Gentlemen;

As I stand here today, I am reminded of the late Cde Chris Hani’s powerful words when he said, “When we finally launched an armed struggle, we were not abandoning our quest for peace; we were pursuing that quest in the most effective way left to us by an intransigent and brutal regime.”

This powerful declaration by Cde Chris Hani was made following the banning of liberation organisations and the ruthless wave of killings of Black people at the hands of apartheid authorities.

Similar to the attributes of Nelson Mandela and Walter Sisulu, who were prominent figures, the Liberation Movements initially employed peaceful methods, such as petitions, demonstrations, strikes, and boycotts to challenge apartheid. This non-violent resistance encountered escalating violence and oppression from the apartheid regime.

During that hostile period, the armed struggle became the only way of resistance against colonialism, to end racial oppression and exploitation of black people through white capitalism, and to bring justice, peace and freedom in South Africa.

This quest for peace resulted in the establishment of uMkhonto We Sizwe, the ‘Spear of the Nation’, which issued a manifesto on 16 December 1961, proclaiming:
“We shall not submit and we have no choice but to retaliate by all means within our power in defence of our people, our future, and our freedom.”

This declaration was to bear a heavy cost, where many young souls laid down their lives for the sake of peace and the inheritance of freedom. Many young people, like Mbulelo Ngono (also known as ‘Khaya Kasibe’ or ‘KK’), were compelled to take up arms in the struggle for our liberation.

Many more liberation fighters were robbed of their youth; for most, participation in the Liberation Movement resulted in a lack of formal education, missed opportunities for personal growth, and exposure to violence, trauma, hardship and even death.

Despite the challenges, they remained steadfast in their resolve. They were brave, driven by a vision of a brighter, harmonious, and united South Africa, where all could share in equal opportunities.

The merciless apartheid regime was faced with the same level of commitment to get rid of the ugly system in order to usher in the democratic dispensation.

In the heart of Lurhwayizo Village, a fierce clash unfolded, where the brave uMkhonto weSizwe stood tall against the Transkei Defence Force, the Transkei Police, and the South African Police, a struggle that took over 36 hours of relentless conflict in 1987.

Today, we have gathered here, united in this moment in memory of the Battle of Lurhwayizo. As a key objective, this annual remembrance must signal and instil awareness in the larger society regarding the importance of the fight made in the struggle for liberation.

Those who fought in the Battle of Lurhwayizo played an instrumental role in defying the odds and defining the direction that the country was taking politically and in preparation for a democratic country.

We will forever remember their selflessness, courage, and commitment to fighting for the rights and freedoms of all in our nation. In all of them, we saw a steadfast drive and courage in the face of adversity, demonstrating great bravery, strength, and determination under very challenging circumstances.

Starting in this community and across South Africa, we should hold close the memory of those who battled apartheid, torn from the warmth of their families, living in the dusty, frozen trenches, and dodging the rain of bullets for the sake of peace and freedom.

Regardless of the pain inflicted on the militant combatants, they remained resolute. We will therefore, always be thankful to Mbulelo Ngono and Mazizi Attwell Maqekeza along with a University of Lesotho student, Thandwefika Radebe who bravely fought for the good cause until their last breath.

We must never allow the death of these freedom fighters to be in vain as we progress on a path of healing and protecting this democracy.

We must never forget the tragic story of Mbulelo Ngono, Nomasonto Annah Mashiya, Betty Boom, and Tax Sejanamane, who were abducted in Maseru by Ladybrand Security Branch operatives Antonie Jagga, Lesizi Michael Jantjie, Robert Shaw, and Laele Thulo.

We still need to get to the bottom of the truth of what unfolded with the Security Branch operatives that led to their disappearance.

We are obligated to continue our efforts until the Ngono family’s demand for the recovery, repatriation and reburial of the remains is ultimately met, allowing them to find closure.

We are pleased that the Department of Justice and Constitutional Development, through the NPA Missing Persons Task Team, has been activated and that this is one of the cases they are currently investigating.

Compatriots,

Another sad reality is that many of those who sacrificed their lives never had an opportunity to witness the peaceful transition to democracy. As beneficiaries of their selfless efforts, we must engrave their names in our hearts as an inscription of honour.

As part of such honour, today, we have gathered to declare that we will never forget the contributions of Mbulelo Ngono, whose bust was unveiled earlier, outside Umzi waka Jafta.

In light of the fact that we only have memories of him and not his remains, the presentation of his bust was a mix of emotions. On the other hand, we will continue to honour him and a great number of other people for their selfless contributions to our nation.

Mbulelo Ngono, a heroic Umkhonto weSizwe soldier, demonstrated amazing fortitude during a 36-hour combat in 1987. His bravery and commitment to the fight for equality and freedom have left an everlasting impact on our country’s history.

His story exemplifies the sacrifices endured by countless heroes and heroines who relentlessly battled against oppression and injustice. His dedication to the Freedom Movement inspires us all, demonstrating the perseverance and drive that characterise our people’s spirit.

Our Government and the people of South Africa will forever honour his memory not only as a testament to his own bravery but also as a symbol of the countless sacrifices made by so many in the pursuit of a better future for all. As a country, we must recognise and care for those who have died for our freedom. This would not be a payment but rather a recognition of the invaluable service they have provided to the country.

The Constitution of the Republic of South Africa emphasises the importance of honouring those who have sacrificed their lives for the country, acknowledging past injustices, respecting those who have worked to build and develop the country, and believing that South Africa belongs to all its citizens, united in its diversity.

The ANC-led Government will forever honour the memory of these former MK Combatants and ensure that their legacy lives on. In honour of these brave individuals, we have established the Presidential Task Team on Military Veterans to resolve issues and needs brought to the attention of the Government, regarding Military Veterans’ benefits and assistance as well as to improve access to services for them.

In this regard, last year, I officially handed over headstones to 21 affected families of fallen former MK operatives who died between 1986 and 1990. This was a significant and historic occasion for our soldiers who endured the hardships of a guerrilla war.

The PTT remains committed to continuous engagements with Military Veterans in a bid to resolve issues raised during various interactions with them since November 2020.

We are also building a structure for monitoring, implementation, and assessment to keep track of our progress and maintain transparency about our efforts to fulfil the needs of Military Veterans, thereby giving them the much-needed dignity they deserve for their valiant service.

I must emphasise this: we must honour their sacrifices and uphold the freedom and democracy they helped to secure. We must recognise that without their courage and dedication, our nation’s journey towards freedom might have remained an unfulfilled dream.

Their commitment to the struggle, their selflessness, and their steadfast spirit should continue to inspire us as we march forward on the path of building a better South Africa.

Their actions of bravery should serve as a light of hope, leading us through the challenging moments in our country.

Moreover, their actions should be an inspiration to never give up on our quest for a fully free and democratic South Africa.

This should be extended towards the attainment of our priorities, which are to drive inclusive growth and job creation, to reduce poverty and tackle the high cost of living, and to build a capable, ethical and developmental state.

In conclusion, let the Battle of Lurhwayizo and the unveiling of the Mbulelo Ngono Bust be a reminder of where we come from as a country as we face the current challenges.

May Mbulelo Ngono’s memory continue to inspire us, and may his example guide us as we forge ahead on the path toward a brighter future for our nation and all who call it home. 

Let us all strive to carry forward their legacy by working together to build a more just, equitable, and inclusive society for all.

I thank you.
 

La United Nations Multidimensional Integrated Stabilization Mission in the Central African Republic (MINUSCA) honore 180 Casques bleus camerounais pour leur engagement à Bouar

Source: Africa Press Organisation – French


Le 6 août 2025 à Bouar (préfecture de la Nana-Mambere), un total de 180 Casques bleus, dont 21 femmes, de l’Unité de police constituée camerounaise (FPU1-11) de la MINUSCA, ont été décorés de la médaille de reconnaissance des Nations Unies, après 11 mois et 21 jours de service accompli dans la ville et les localités environnantes. La cérémonie de remise des médailles s’est déroulée sous la présidence de Amid Arfoui, représentant du chef de la composante Police de la MINUSCA, de Diane Saravenda, préfète de la Nana-Mambere, ainsi que d’autres personnalités civiles et militaires.

Déployés à Bouar depuis le 15 septembre 2024, ces Casques bleus avaient pour mandat principal la protection des civils, la sécurisation de la zone, ainsi que la protection rapprochée des hauts responsables de la MINUSCA et du gouvernement en mission dans la localité.

Entre le 7 octobre 2024 et le 14 juin 2025, l’unité a mené 3 516 opérations sur le terrain, dont 832 patrouilles pédestres, 21 patrouilles conjointes avec les forces de sécurité intérieure, 201 patrouilles conjointes avec les policiers individuels de la MINUSCA, 201 missions de sécurisation, des escortes et protections de personnalités, des patrouilles conjointes avec les autres Forces de la MINUSCA.

L’unité a également pris part à plusieurs actions à caractère humanitaire, dont notamment des distributions d’eau potable, des dons de sang, et d’autres initiatives en faveur des populations locales.

 Un hommage mérité

Pour le commandant de la FPU1-11, le Commissaire Théodore Armand Mbendi-Mbendi, ces médailles sont « le fruit d’un travail acharné accompli dans le cadre du maintien de la paix sous l’égide des Nations Unies ».

Amid Arfoui, président de la cérémonie, a salué l’engagement et la résilience du contingent :
« Aujourd’hui, nous honorons 180 Casques bleus, dont 21 vaillantes femmes. Cet événement marque l’aboutissement d’une expérience professionnelle riche en fierté et en courage. Malgré un contexte sécuritaire fragile et instable, vous avez su relever d’importants défis, contribuer à la stabilisation du pays et incarner les valeurs de solidarité des Nations Unies ».

Les activités menées par la FPU1-11 ont favorisé le renforcement du lien de confiance avec les populations locales.

Distribué par APO Group pour United Nations Multidimensional Integrated Stabilization Mission in the Central African Republic (MINUSCA).

Over 11,000 thousand children displaced as fighting cuts off Mahaas in Somalia

Source: APO


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More than 22,000 people including over 11,000 children have been displaced in Mahaas in central Somalia due to intense fighting that has left thousands cut off without basic services, Save the Children said. 

Clashes between local militia, government forces and non-state armed groups in the Hiraan region have intensified in the last two months, with a significant escalation on July 27 displacing over 22,800 people [1] in Mahaas district alone, more than half of them children [2]. Displaced people are living in nearby villages with host families in overcrowded conditions or in open grazing lands without basic services. 

Save the Children is concerned that 21 health sites they support are currently suspended due to the ongoing conflict. This includes a stabilisation centre for children suffering from severe acute malnutrition. Health facility staff have fled the area, leaving families and children without care. 

At the time of the escalation in fighting, over 150 children who were receiving treatment for severe acute malnutrition in Mahaas and surrounding villages fled with their families to Bulo Burte and Beledweyne. Save the Children teams in Beledweyne are trying to trace these children and get them back on treatment.   

Additionally, the conflict has resulted in damage to water sources, obstructed road access, and led to a significant increase in food insecurity, with families losing access to grazing land, markets, and clean water. 

Women, children, and vulnerable groups are lacking decent housing and psychological discomfort while Save the Children is deeply concerned over increased reports that young boys are being recruited to fight in the conflict by actors on both sides.

Across central and southern Somalia, conflict has displaced about 100,000 people in the Hiraan and Gedo regions in the past two months, according to humanitarian partners and local authorities, placing additional strain on already limited local resources with shortages of shelter, food, clean water, and healthcare.  

The aid agency said the recent displacement adds another crisis to a community already battered by a severe drought which has led to a sharp increase in malnutrition, with children lacking access to life saving health services due to aid cuts.

Earlier this year 32 Save the Children supported health facilities were closed due to aid cuts in Hiran region.  

Save the Children’s Country Director for Somalia, Mohamud Mohamed Hassan, said:

“We are concerned that the conflict in Hiran region has disrupted lifesaving services for children, including children who were being treated for malnutrition and have been forced to flee from health centres with their families.    

“As of today, no significant humanitarian aid has been delivered, highlighting the urgent need for unimpeded, coordinated humanitarian assistance to address critical lifesaving needs. 

“Save the Children’s assessment has revealed that displaced families arriving in Beledweyne are facing severe humanitarian conditions, with many having arrived with no food, shelter, or basic supplies. Most are living in overcrowded, makeshift settlements with limited support from overstretched host communities. There is an urgent need for shelter, food, water, health, and protection services, particularly for vulnerable groups like women, children, and the elderly.”

Save the Children calling for immediate assistance to address critical needs. This includes emergency shelter and non-food items distribution, food and water support, deployment of mobile health services, and protection services including psychosocial support. Humanitarian actors should coordinate with local authorities and host communities to ensure inclusive and targeted interventions, while also planning early recovery activities such as education and livelihoods to support long-term resilience

Save the Children has been working in Somalia and Somaliland since 1951 and has programmes throughout the country which support children’s healthcare, education and food needs. Last year we reached 3.2 million people, including 1.9 million children.  

Distributed by APO Group on behalf of Save the Children.

Seychelles Tourism Academy Celebrates 181 Graduates at the 2025 Graduation Ceremony

Source: APO


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The Seychelles Tourism Academy proudly concluded its 2025 graduation ceremony Thursday afternoon, celebrating the achievements of 181 graduates across ten specialized tourism and hospitality programs. The ceremony, held at the International Conference Centre Seychelles (ICCS), was graced by the presence of President Wavel Ramkalawan, who attended alongside First Lady Linda Ramkalawan and a host of distinguished guests.

The graduating cohort represented three distinct academic levels, reflecting the Academy’s comprehensive educational framework. Among them, 11 students were awarded Advanced Diplomas in Hospitality Management—a rigorous three-year program aimed at developing future industry leaders. All recipients of this diploma met the academic requirements to pursue further studies at the renowned Shannon College of Hotel Management in Ireland.

The Advanced Certificate programs, conducted over two years, produced 78 graduates across five specialized disciplines: Restaurant & Bar Services, Food Preparation & Culinary Arts, Wellness & Spa, Reception Operations & Services, and Tourism & Tour Guiding. The Certificate programs, delivered through an apprenticeship model over eighteen months, graduated 92 students across four key areas: Restaurant & Bar Services, Food Preparation & Culinary Arts, Accommodation Operations & Services, and Reception Operations & Services. The Food Preparation & Culinary Arts program recorded the highest enrollment, with 38 graduates, including six students who completed their studies on Praslin Island.

The ceremony’s highlight was the presentation of prestigious awards recognizing exceptional academic achievement, practical excellence, and character development. The prestigious President’s Cup was awarded to Elaine Hoareau, recognizing exemplary academic performance, active participation in academy life, and exceptional ambassadorial qualities. This distinguished graduate demonstrated outstanding leadership skills, maintained exemplary conduct in terms of attitude, punctuality, and personal presentation standards, while actively participating in various academy activities at both national and international levels. Ms Hoareau received an extensive prize package including a laptop computer and scholarship from the President of the Republic, accommodation packages from premier resorts including North Island Seychelles and Canopy by Hilton Seychelles Resort, an Air Seychelles ticket to Abu Dhabi, and numerous other valuable prizes.

The Director’s Awards for remarkable personal transformation were presented to Lara Dick and Brendon Malvina, honouring their significant behavioural improvements and commitment to personal growth throughout their academic journey. Bashiir Pharce received the Governing Board Award in recognition of his outstanding practical skills, while the Minister’s Awards celebrated the highest academic achievers across all three program levels: Wayne Esther (Certificate Level), Micaella Dogley (Advanced Certificate Level) and Petra Estico (Advance Diploma Level).

In his address, Academy Director Mr. Richard Mathiot congratulated the graduating cohort on reaching a significant milestone in their professional journey. He encouraged them to remain focused and committed as they transition into the hospitality and tourism industry.

Also included during the ceremony was a motivational speech by Mr. Maxime Rachel, General Manager of Hotel La Cigale Praslin, vote of thanks by Graduate Chloe Elizabeth, musical performances and souvenir photo sessions.

Distributed by APO Group on behalf of State House Seychelles.

European Union‑Africa Chamber of Commerce (EUACC) Mourns Ghana’s Loss in Helicopter Crash

Source: APO

The European Union‑Africa Chamber of Commerce (EUACC) (www.EU-Africa-Chamber.org) is deeply saddened by the tragic military helicopter crash that occurred on 6 August 2025 in the Ashanti Region of Ghana, claiming the lives of eight individuals, including the Honourable Minister of Defence, Dr Edward Omane Boamah, and the Honourable Minister for Environment, Science and Technology, Dr Murtala Mahammed (MP).

On behalf of our Board, members, and all our partners across Europe, Africa, and internationally, we extend our heartfelt condolences to His Excellency President John Dramani Mahama, President of the Republic of Ghana, H.E. Prof Naana Jane Opoku Agyeman, Vice-President, Republic of Ghana, the bereaved families, The government, and people of Ghana in this hour of profound grief.

We mourn alongside the Ghana Armed Forces and the ruling National Democratic Congress and recognize the gravity of this national tragedy.

EUACC stands in solidarity with Ghana, offering moral support and unwavering commitment to streghten its collaboration with this country of investment opportunities.

May the souls of the departed rest in peace, may the people of Ghana find strength and resilience in this difficult time, and may Ghana’s unity guide the nation toward healing.” Sonia Toro – Executive Director, EUACC.

Distributed by APO Group on behalf of EU-Africa Chamber of Commerce (EUACC).

For further information, please contact:
Communications Department, EU‑Africa Chamber of Commerce
Email: media@eu-africa-chamber.org
www.EU-Africa-Chamber.org

Media files

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President Ramaphosa to officiate the launch of the Rand Water Zuikerbosch Purification Plant

Source: President of South Africa –

President Cyril Ramaphosa will on Friday, 08 August 2025, officiate the launch of the Station 5A Water Purification Plant at the Rand Water Zuikerbosch Plant in Vereeniging, Gauteng.

Rand Water, under the governance of the Department of Water and Sanitation, has provided bulk potable water since its establishment in 1903.

The new plant reflects government’s ongoing effort to ensure sustainable water security and to meet the growing demands of South Africa’s industrial heartland. 

The launch also aligns with the commitment made by the President in his 2025 State of the Nation Address that government will take decisive steps to resolve water challenges in the country.

Rand Water is executing its augmentation programme through the construction of this new water purification facility.

The Zuikerbosch Water Treatment Works System is the biggest state-of-the-art water purification plant in Africa and one of Rand Water’s key water supply infrastructures.

It is a vital component of Rand Water’s long-term infrastructure plan, specifically designed to meet and keep pace with the continuous growth in customer demand, thereby ensuring consistent and reliable water supply for millions of residents.

The launch will take place as follows:

Date: Friday, 08 August 2025
Time: 11h00 
Venue: Rand Water Zuikerbosch Station in Vereeniging, Gauteng Province

Due to the Rand Water Plant being a National Key Point, media access will be limited to coverage of President Ramaphosa’s remarks at the end of his tour of the plant, on which he will be accompanied only by the Minister of Water and Sanitation and Rand Water executives.

Members of the media wishing to cover the Presidents Remarks are requested to send their details to Madolos@dws.gov.za by no later than 16h00 today Thursday, 07 August 2025.

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

Issued by: The Presidency
Pretoria

La Chambre de Commerce Union Européenne – Afrique (EUACC) compatit à la perte tragique subie par le Ghana dans un crash d’hélicoptère

Source: Africa Press Organisation – French

La Chambre de Commerce Union Européenne – Afrique (EUACC) (www.EU-Africa-Chamber.org) exprime sa profonde tristesse à la suite du tragique accident d’hélicoptère militaire survenu le 6 août 2025 dans la région de l’Ashanti, au Ghana, ayant coûté la vie à huit personnes, dont l’honorable Ministre de la Défense, le Dr Edward Omane Boamah, et l’honorable Ministre de l’Environnement, de la Science et de la Technologie, le Dr Murtala Mahammed (Député).

Au nom de notre Conseil d’administration, de nos membres et de l’ensemble de nos partenaires à travers l’Europe, l’Afrique et dans le monde, nous adressons nos sincères condoléances à Son Excellence Monsieur John Dramani Mahama, Président de la République du Ghana, à Son Excellence la Professeure Naana Jane Opoku Agyeman, Vice-Présidente de la République du Ghana, aux familles endeuillées, au Gouvernement et au peuple ghanéen en cette heure de grande affliction.

Nous nous associons au deuil des Forces armées ghanéennes et du Congrès National Démocratique, et reconnaissons la gravité de cette tragédie nationale.

La Chambre de Commerce UE-Afrique se tient aux côtés du Ghana, lui apportant tout son soutien moral et réaffirmant son engagement indéfectible à renforcer sa collaboration avec ce pays porteur d’opportunités d’investissement.

Que les âmes des disparus reposent en paix, que le peuple ghanéen trouve la force et la résilience nécessaires en ces temps difficiles, et que l’unité du Ghana guide la nation sur le chemin de la guérison.

Sonia Toro – Directrice Exécutive de la Chambre de Commerce Union Européenne – Afrique.

Distribué par APO Group pour EU-Africa Chamber of Commerce (EUACC).

Pour toute information complémentaire, veuillez contacter :
Département de la Communication – EU Africa Chamber of Commerce
Email : media@eu-africa-chamber.org
www.EU-Africa-Chamber.org

Media files

The Islamic Corporation for the Development of the Private Sector (ICD) leads successful closure of USD 145 Million Shariah-Compliant Syndicated Facility for Turk Eximbank

Source: APO – Report:

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The Islamic Corporation for the Development of the Private Sector (“ICD”) (https://ICD-ps.org), a multilateral development financial institution and the private sector arm of the Islamic Development Bank (IsDB) Group, is pleased to announce the successful closure of USD 145 million Shariah compliant syndicated financing facility for Türkiye İhracat Kredi Bankası A.Ş. or Export Credit Bank of Türkiye A.S. (“Turk Eximbank”). The facility has been structured as a Commodity Murabaha with a tenor of 3 years. This partnership between the two institutions aims to boost export-oriented businesses and export of private sector businesses in Türkiye and provide Shariah-compliant financing solutions to support exporters.

The syndicated financing facility was led by ICD as Mandated Lead Arranger and Bookrunner. ICD is also the Investment Agent of the facility. Three leading GCC-based Islamic banks participated in the facility. Warba Bank K.P.S.C. and Kuwait International Bank K.P.S.C. joined as Joint Lead Arrangers, whereas AlRayan Bank Q.P.S.C joined as Co-Lead Arranger.

The ICD remains committed to develop Shariah compliant financial channels in member countries to promote Islamic finance. This syndicated financing facility demonstrates the strong relationship of ICD, a multilateral development financial institution, with other leading Islamic Financial Institutions, to mobilize resources toward the sustainable development of the private sector across its member countries.

Dr. Khalid Khalafalla, Acting CEO of ICD, stated “I am glad to announce this medium-term financing facility, which is designed to promote economic development and support Shariah-compliant export-oriented businesses in Türkiye. Through this initiative, we aim to empower private sector projects, particularly corporates and SMEs, those have meaningful developmental impact on the Turkish economy”

Mr. Ali Güney, General Manager of Turk Eximbank also stated “Turk Eximbank is one of the main enablers of government’s export-led growth strategy and the largest development bank in Türkiye. We remain committed to support Turkish exporters and strengthening their global competitiveness. We consider ICD a strategic partner in this endeavor and look forward to continuing our cooperation in the future”

– on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

For More Information:
For further details, please contact:
Telephone: +90 (216) 666 55 00
E-Mail: info@eximbank.gov.tr
Website: https://Eximbank.gov.tr/en

For More Information:
For further details, please contact:
Nabil El-Alami
Communications & Corporate Marketing Division head
Nalami@isdb.org
Website: https://ICD-ps.org

About Turk Eximbank:
Turk Eximbank is the official export credit agency of the Republic of Türkiye and the leading provider of export finance in the country. Turk Eximbank is fully owned by the Republic of Türkiye Ministry of Treasury and Finance acting as the Turkish government’s major export incentive instrument in Türkiye’s sustainable export strategy. As Türkiye’s official export credit agency, Turk Eximbank has been mandated to support foreign trade and Turkish contractors/investors operating overseas.

About the Islamic Corporation for the Development of the Private Sector (ICD):
ICD is a multilateral organization and a member of the Islamic Development Bank (IsDB) Group. ICD’s mandate is to support economic development and promote the growth of the private sector in its member countries through providing financing facilities and/or investments in accordance with Shariah principles. Additionally, ICD offers advisory services to governments and private organizations to encourage the establishment, expansion, and modernization of private enterprises.  ICD is rated ‘A2’ by Moody’s, ‘A+’ by Fitch, and ‘A-’ by S&P.