MIL Africa Engine

Source: APO

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s infrastructure solutions provider, received a record 13 industry honours at the recent EMEA Finance Awards, recognising transactions advancing energy security, connectivity, industrialisation and long-term capital mobilisation across Africa.

Among the award-winning transactions was AFC’s financing for the Dangote Refinery, the world’s largest single-train refining complex and a landmark investment in Africa’s energy security. Others included the Kano-Maradi railway, a strategic transport corridor linking Nigeria and Niger; and the Cabeolica wind and battery storage project in Cape Verde. The awards also recognised AFC financing for Nigeria LNG and Côte d’Ivoire’s road programme, alongside capital markets innovation: AFC’s debut sustainability-linked loan, its US$500 million perpetual hybrid bond, and Angola’s debut ¥40 billion Samurai bond guaranteed by AFC. In addition, AFC was named Best Borrower in EMEA, underscoring the Corporation’s strong market access and diversified funding platform.

Together, the awards reflect AFC’s expanding role in developing and financing the integrated infrastructure that underpins economic growth across Africa. They also underscore the Corporation’s stature as a global borrower, showcasing its innovative and diversified funding solutions across international capital markets and the confidence of investors in its credit, strategy and long-term development mandate.

Samaila Zubairu, President and CEO of AFC, said: “At AFC, we believe prosperity is intentional. It is the product of deliberate choices to align capital, infrastructure, industry and markets in ways that create productive jobs, retain more value within African economies, strengthen competitiveness and advance our economic sovereignty. These awards reflect the progress that can be achieved when long-term capital, strategic partnerships and disciplined execution come together behind transformative projects. They recognize the dedication of our teams and partners, and the growing confidence of global investors in Africa’s ability to execute and deliver the infrastructure and industrial ecosystems that underpin long-term growth and prosperity.”

Project Finance Awards received:

• Best Chemical Deal – Dangote Petroleum Refinery and Petrochemicals’ revolving club working capital, bridge and supply chain financing
• Best Infrastructure Deal – Côte d’Ivoire’s 540km road development and improvement project
• Best Natural Gas Deal – Nigeria LNG’s corporate term loan and revolving credit facility for cleaner energy projects
• Best Natural Resources Deal – FG Gold’s Baomahun gold mine project in Sierra Leone
• Best Power Deal – Aksa Enerji’s 250MW combined-cycle gas power plant in Senegal
• Best Rail Deal – Kano–Maradi 378km railway project in Nigeria
• Best Wind Farm – Cabeolica wind farm and battery storage expansion project in Cape Verde

EMEA Achievement Awards received:

• Best Borrower in EMEA – AFC Treasury & Funding Team
• Best Supranational Syndicated Loan – US$1.5 billion syndicated loan
• Best Sustainability Loan in EMEA – AED937.5 million debut sustainability-linked loan
• Best Supranational Islamic Facility – US$400 million Commodity Murabaha facility
• Best Supranational Bond – US$500 million perpetual hybrid bond
• Best Samurai Bond – Angola’s ¥40 billion debut issuance

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 deficit and challenging operating environment.

Nineteen years on, AFC has established itself as the partner of choice for investing in and delivering high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport and telecommunications. AFC has 48 member countries and has invested over US$19 billion across 36 African countries since inception.

www.AfricaFC.org

Source: APO

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Eng. Yasser Ramadan, Chairman of the Egyptian Mineral Resources Authority (EMRA) has been appointed as an Advisory Board Member of African Mining Week (AMW) – The Most Influential Mining Conference in Africa – reinforcing the event’s engagement with key regulatory institutions shaping the continent’s mining sector.

In his role, Ramadan will provide strategic guidance on core themes and agenda priorities for AMW, ensuring alignment with Egypt’s mining sector vision, including regulatory reform, investment facilitation and value-added mineral development.

His appointment strengthens AMW’s position as a direct engagement platform for global investors seeking exposure to Egypt’s mining industry. It also supports Egypt’s broader national agenda to attract foreign direct investment into key mineral segments including phosphate, gold, copper and industrial minerals, which are central to the country’s industrialization and resource monetization strategy.

Under the theme Mining the Future: Unearthing Africa’s Full Mineral Value Chain, AMW 2026 will convene African regulators, including EMRA, alongside global investors and project developers for partnerships formation aimed at unlocking investment flows across the continent’s mining sector.

AMW 2026 comes at a time when Egypt is accelerating reforms and strategic initiatives across its mining sector. These include enhanced collaboration on mineral value chains, such as the Afreximbank-Central Bank of Egypt initiative to establish the African Gold Bank, aimed at financing gold mining and beneficiation projects. Additionally, Egypt’s Suez Canal Economic Zone-based Futurefert project recently secured $20 million in financing from the European Bank for Reconstruction and Development to develop fertilizer production facilities, further supporting the country’s phosphate beneficiation ambitions and regional food security objectives.

Meanwhile, regulatory reforms are also underway, including the development of a modern mining cadastre system designed to streamline licensing processes and improve transparency for investors, led by EMRA.

Through his role on the AMW Advisory Board, Ramadan will position Egypt as a key mining investment destination within Africa’s evolving resource landscape.

https://apo-opa.co/4ai4FYa

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

Source: APO

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Members of Parliament have been urged to legislate beyond party lines on behalf of the electorate, with a focus on the factors that unite the country.

Prince Kassim Nakibinge Kakungulu, the Titular Head of Muslims in Uganda, said the country has several unifying sectors from education and health to financial development among others, and urged MPs not to dwell on party divisions.

“There is no reason why we should waste our energies on those trivialities, rather let us utilise our energies for the good of our people. When you perform well, you take the credit. Thus you should strive for it so that everybody believes in your capacity,” he said.

Prince Nakibinge made the call while hosting the Muslim Parliamentary Caucus to a luncheon at his residence in Kibuli on Friday, 19 June 2026, that was preceded by Juma Prayers at Kibuli Mosque.

The chief guest at the event, former Premier John Patrick Amama Mbabazi, reiterated Prince Nakibinge’s call to political unity in the Legislature, noting that the interests of the nation and the welfare of Ugandans must transcend partisan divisions.

“Uganda’s transformation requires unity of purpose. Listen to one another, respect defying viewpoints, seek common ground, and present a united front on issues of development, poverty eradication, education, youth empowerment and ethical governance. Political competition should never prevent collaboration in areas where the future of our country is at stake,” Amama Mbabazi said.

He encouraged MPs to guide Uganda’s transition into petrostate status, by ensuring that the petrodollar becomes a foundation for sustainable and generational wealth in the country, rather than temporary consumption.

Amama Mbabazi alluded to estimates suggesting that Uganda’s petroleum resources could support production for approximately 25 to 30 years, which he said is a relatively short period in the life of a nation.

“Oil is finite therefore it must be viewed as a springboard, not a destination. The revenues generated from petroleum should be invested strategically to promote both vertical and horizontal integration across the economy. They should strengthen sectors that will continue to create wealth long after the last barrel of oil has been extracted,” he added.

He listed priority areas like agriculture and agro-processing, science and technology, energy generation, manufacturing, transport, infrastructure, education and skills development.

“Prioritising these sectors can build an independent, integrated, self-sustaining economy that can thrive for generations beyond the lifespan of our oil reserves. You are custodians of an exhaustible national asset whose benefits must extend far beyond the present generation,” Amama Mbabazi noted.

The Chairperson of the Muslim Parliamentary Caucus, Hon. Hassan Kirumira pledged the commitment of MPs to promote the affairs and welfare of the Muslim community in Uganda.

Distributed by APO Group on behalf of Parliament of the Republic of Uganda.

Source: APO

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Mr. Berhane Gebrezgiabhier, head of secondary schools at the education office in the Southern Red Sea Region, reported that the students’ summer work program that commenced in the region on 8 June is progressing well.

Mr. Berhane further said that about 590 high school students are taking part in this year’s students’ summer work program.

The program includes planting tree seedlings, water and soil conservation activities, planting mangrove trees on islands and seashores, among other activities.

Mr. Ali Ahmed, forestation expert at the Forestry and Wildlife Authority in the region, and Mr. Haileab Tewoldemedhin, mangrove tree development expert, noting the advantages of mangrove trees, said that there is a program to plant a number of mangrove trees on Fatma Island.

Distributed by APO Group on behalf of Ministry of Information, Eritrea.

Source: APO

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In communities across Maryland, Grand Gedeh, Grand Bassa, Grand Cape Mount, and Bong Counties, a quiet transformation is taking place.

For many women and girls, generations of poverty, harmful traditional practices, limited educational opportunities, and gender inequality have shaped the course of their lives. Survivors of sexual and gender-based violence (SGBV), women and girls affected by female genital mutilation (FGM), women living with disabilities, female-headed households, and out-of-school girls often face multiple layers of exclusion and economic hardship.

Today, through the Spotlight Initiative 2.0, supported by the European Union and UN Women Liberia and implemented by the HOPE Consortium—including HOPE Liberia, HeForShe Liberia, and the Disabled Children Female Empowerment Network—new pathways towards dignity, inclusion, and economic independence are emerging.

The Spotlight Initiative 2.0 began not with training sessions or financial support, but with conversations. Project teams travelled to towns and villages across the five counties, meeting with chief elders, traditional leaders, local government officials, women, youth, and community members in palava huts, town halls, and local offices.

Together, communities discussed their challenges, aspirations, and the opportunities they believed could create lasting change. Through these dialogues, local leaders and residents helped shape the beneficiary identification process and informed the design of future interventions.

Following the consultations, the project identified vulnerable women and girls across the five Spotlight counties. Beneficiaries are being connected to skills development programmes, entrepreneurship training, financial literacy education, Village Savings and Loan Associations (VSLAs), and other income-generating opportunities.

Community members expressed strong interest in practical livelihood skills such as soap making, hairdressing, catering, agriculture, tailoring, and small business management—activities that can help families build sustainable sources of income.

Early Results, Lasting Impact

Although the initiative is still in its early stages, encouraging signs of change are already visible.

Across the five Spotlight counties, more than 1,100 women and girls have been identified and connected to support networks and empowerment opportunities.

Project partners report increased participation of women and young people in community meetings and project activities, while enrolment in livelihood and entrepreneurship programmes continues to grow.

Perhaps even more importantly, conversations that were once considered difficult or taboo are beginning to take place openly.

Issues such as SGBV, FGM, early marriage, women’s rights, and economic empowerment are increasingly being discussed among traditional leaders, government officials, youth representatives, and women themselves.

A Future Reimagined

In Grand Gedeh County, Beatrice Toe, a mother of five from Billibo, sees the initiative as an opportunity to create a better future for her family.

“This project has given me hope that I can better support my children and improve our future,” Beatrice says. “The training and support are opening new opportunities for my family.”

For Beatrice, access to skills development and savings groups represents more than a development programme—it is a chance to build financial independence, keep her children in school, and create lasting stability for her household.

Looking Ahead

Even with this progress, significant challenges remain. Deeply rooted social norms take time to change, and women living with disabilities and those experiencing extreme poverty continue to face barriers to full participation.

Yet the foundation for lasting transformation is being laid. As Spotlight Initiative 2.0 expands livelihood support, skills development, mentorship, and community engagement activities, more women and girls will have opportunities to strengthen their economic independence and participate fully in community life.

Distributed by APO Group on behalf of UN Women – Africa.

Source: APO

Faced with a major paradox representing nearly 19% of the world’s population while accounting for less than 1% of global insurance premiums African insurance stakeholders are mobilizing.

From July 6 to 8, 2026, the Federation of African National Insurance Companies (FANAF) will organize the General Assembly on Insurance for All at the Sofitel Hotel in Cotonou, Benin, a major pan-African gathering dedicated to inclusive insurance.

The event will bring together nearly 400 African decision-makers from governments, regulatory and supervisory authorities, insurance and reinsurance companies, financial institutions, development banks, technical and financial partners, as well as professional organizations from across the continent.

The ambition is clear: to foster a shared vision and concrete commitments aimed at accelerating access to insurance for African populations while strengthening the sector’s contribution to the continent’s economic and social development priorities.

The discussions will culminate in the adoption of the Pan-African Pact for Insurance Inclusion and a 2026–2030 Strategic Action Plan, designed to structure collective action around an ambitious objective: contributing to the doubling of insurance penetration across the FANAF region by 2040.

An Economic, Social and Development Imperative

Within the CIMA zone, insurance penetration remains below 1% of GDP, compared to more than 6% globally.

As a result, millions of households, farmers, entrepreneurs, SMEs and informal sector actors remain deprived of essential protection mechanisms against health, climate, economic and social risks.

For FANAF, this reality now constitutes a major development challenge.

“Africa cannot build sustainable growth without strengthening protection mechanisms for its populations, businesses and investments. The Cotonou General Assembly must mark the starting point of a new continental ambition for African insurance and its role in the continent’s economic transformation,” said Mamadou Koné, President of FANAF.

Beyond Insurance: A Driver of Continental Transformation

For FANAF, insurance is no longer merely a risk coverage mechanism. It is also a strategic lever for economic resilience, savings mobilization, investment security, SME financing, support for climate transitions and the strengthening of financial inclusion.

Through this General Assembly, FANAF seeks to reposition insurance as a key stakeholder in Africa’s economic, social and financial transformation.

A Pact to Accelerate Action

The conclusions of the General Assembly will lead to the adoption of the Pan-African Pact for Insurance Inclusion, a reference framework intended to mobilize governments, regulators, market players, financial institutions and development partners around shared objectives.

The Pact will be accompanied by a 2026–2030 Strategic Action Plan defining priority intervention areas, coordination mechanisms and monitoring arrangements for the commitments undertaken.

A broad mobilization of public, private and financial partners will support its implementation in order to translate commitments into tangible results for African populations and economies.

Cotonou 2026: Building a Shared Vision

Beyond the insurance sector, the General Assembly aims to create an unprecedented platform for dialogue between governments, regulators, investors, financial institutions, technical partners and market actors in order to identify the levers needed to accelerate insurance inclusion across the continent.

Holding this event in Benin reflects the country’s broader economic and financial transformation momentum and illustrates the collective determination of African stakeholders to develop solutions tailored to the continent’s realities.

Through this initiative, FANAF intends to make Cotonou 2026 a defining moment for the future of African insurance and the starting point of a lasting continental mobilization in favor of insurance inclusion.

Distributed by APO Group on behalf of Fédération des Sociétés d’Assurances de Droit National Africaines (FANAF).

Media Contact:
François KOUELI
francois@globalmindconsulting.com
+221 77 200 20 49

About FANAF:
The Federation of African National Insurance Companies (FANAF) is the leading pan-African organization for the insurance sector. It brings together insurance and reinsurance companies operating across the continent and works to promote a high-performing, inclusive and sustainable insurance market serving African populations and economies.

Source: APO

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Flat6Labs (www.Flat6Labs.com) and IFC in collaboration with the Ministry of Knowledge Economy, Startups and Micro-Enterprises are launching StartAlgeria, a capacity-building program that puts Entrepreneur Support Organizations (ESOs) at the forefront of Algeria’s ecosystem future. The program is designed to equip Algerian ESOs reinforcing pre-seed and seed-stage startups with the expertise, frameworks, and networks needed to contribute to a stronger, more competitive entrepreneurship ecosystem in Algeria and expand into global markets.

StartAlgeria comes at a key moment for Algeria’s entrepreneurship landscape, shifting the focus toward improving how the ESOs operate by providing them with international best practices adapted to each organization’s needs, a community-driven approach that focuses on peer learning, and facilitating connections with investors, policymakers, and key stakeholders.

StartAlgeria will pilot a first cohort focusing on incubators in the capital, Algiers. Following a call for application, the selected ESOs will go through a structured program comprising workshops and masterclasses covering key areas such as startup selection, program design and delivery, and investment readiness. In addition to the core program, participating ESOs will benefit from 6months of post-program mentorship, focusing on areas such as fundraising strategy, partnership development, financial sustainability, and program improvement. This sustained engagement’s goal is to provide a lasting impact in how Algerian ESOs operate and what they’re able to offer the startups they champion.

Yehia Houry, CEO of Flat6Labs, shares “Algeria’s startup ecosystem is demonstrating remarkable potential and a rapidly growing level of maturity, driven by an ambitious new generation of founders, increasing institutional support, and a strong national commitment to innovation and entrepreneurship. The opportunity today lies in further empowering entrepreneurship support organizations to match this momentum by strengthening their ability to identify and nurture high-potential startups, deliver impactful and results-driven programs, and create stronger connections between entrepreneurs and sources of capital. With the right support structures in place, Algeria is well positioned to become one of the leading innovation hubs in the region.”

“Algeria’s entrepreneurial community is among the most dynamic and vibrant in the region, and the potential is not just real, it is ready to scale. Through StartAlgeria, we are committed to ensuring that the organizations standing behind founders are equipped with the tools, frameworks, and expertise to take them from early ideas to investment-ready ventures. This program is a direct expression of IFC’s long-term confidence in Algeria’s private sector and in the ecosystem’s capacity to produce the next generation of high-impact companies.” underscored Cemile Hacibeyoglu Ceren, WBG Resident Representative in Algeria.

“The launch of StartAlgeria marks an important step in reinforcing Algeria’s startup support ecosystem. By strengthening the capabilities of Entrepreneur Support Organizations, we are investing in the long-term growth, resilience, and international competitiveness of Algerian startups. This initiative reflects our shared ambition to build a dynamic innovation-driven economy and create new opportunities for entrepreneurs across the country,” said H.E Mr. Noureddine Ouadah, Minister of Knowledge Economy, Startups and Micro-Enterprises.

This IFC program is implemented in partnership with the Government of the Netherlands.

Distributed by APO Group on behalf of Flat6Labs.

About IFC:
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In the fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.IFC.org

About Flat6Labs:
Flat6Labs is the Middle East and Africa’s leading entrepreneurial ecosystem platform with operations across 15 countries. Supporting entrepreneurs across different stages, Flat6Labs collaborates with leading partners to run renowned startup programs, strengthen entrepreneurship within emerging markets, and offer expert advisory services to startups, ESOs, corporates, and governments.

Since its launch in 2011 in Cairo, Flat6Labs has supported more than 10,000 founders in the Africa, Levant, and the GCC regions through tailored programs and extensive support services, partnering with global stakeholders.

Deeply committed to inclusivity and opportunity, Flat6Labs actively supports underserved entrepreneurs, with a vast track record supporting women and forcibly displaced individuals, who are creating real impact in vulnerable communities. To date, Flat6Labs-backed startups have generated over 90,000 jobs, with hundreds of entrepreneurs advancing local economies and with an increasing number leading efforts toward a more sustainable future. Flat6Labs is part of the F6 Group, working alongside F6 Ventures, a leading venture capital firm dedicated to early-stage seed investments.

For more information, please visit: www.Flat6Labs.com