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Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) Supports EUR 100 Million Financing Facility for Türk Eximbank to Boost Small and Medium-Sized Enterprise (SME) Export Growth in Türkiye

Source: APO – Report:

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (https://ICIEC.IsDB.org), a Shariah-based multilateral credit and political risk insurer and member of the Islamic Development Bank Group, is pleased to announce its support for a EUR 100 million financing facility extended by ING Bank (Germany) and SMBC Bank International Plc (United Kingdom) to the Export Credit Bank of Türkiye (Türk Eximbank).

The transaction was signed on the sidelines of the IsDB Group 2026 Annual Meetings, held in Baku, Republic of Azerbaijan, from 16 to 19 June 2026.

ICIEC is providing Non-Honoring of Financial Obligations for State-Owned Enterprises (NHFO-SOE) insurance cover for a tenor of 10 years, helping Türk Eximbank access long-term funding to expand affordable export financing for Turkish companies, particularly SMEs.

Türk Eximbank serves a broad base of Turkish corporates, predominantly SMEs. The facility will help expand access to affordable financing, enabling these companies to scale their operations, pursue new markets, and support employment creation in line with Türkiye’s export growth strategy.

Commenting on the transaction, Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, said: “SMEs are central to Türkiye’s export ambitions and long-term economic resilience. Through this facility, ICIEC is helping Türk Eximbank broaden access to competitive financing for companies seeking to expand beyond domestic markets. This agreement reflects the practical value of multilateral cooperation in enabling trade, supporting enterprise growth, and creating lasting development impact.”

– 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 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 in 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 138 billion in trade and investment. ICIEC’s activities span several key sectors, including energy, manufacturing, infrastructure, healthcare, and agriculture.

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

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A Sociedade de Engenheiros de Petróleo (SPE) África e a Câmara Africana de Energia (AEC) assinam um acordo estratégico para promover a excelência técnica em todo o setor energético africano

Source: Africa Press Organisation – Portuguese –

A Câmara Africana de Energia (AEC) (https://EnergyChamber.org) assinou um Memorando de Entendimento (MOU) com a Sociedade de Engenheiros de Petróleo (SPE África), marcando um passo significativo no sentido de reforçar a colaboração técnica, a transferência de conhecimentos e a inovação em toda a indústria energética africana.

O acordo formaliza uma parceria estratégica entre uma das principais organizações de defesa da energia em África e uma autoridade técnica reconhecida a nível mundial, com mais de 127 000 membros em 145 países. Através desta colaboração, a SPE África irá disponibilizar conhecimentos técnicos especializados, apoio consultivo e perspetivas do setor para reforçar o crescente portfólio da AEC de conferências, iniciativas estratégicas e ações orientadas para as políticas.

Numa altura em que África se empenha em acelerar o desenvolvimento energético, atrair investimento e navegar num panorama energético global cada vez mais complexo, a parceria sublinha a importância da excelência técnica na concretização de projetos energéticos sustentáveis, financeiramente viáveis e executados de forma eficiente em todo o continente.

Nos termos do Memorando de Entendimento, a SPE África contribuirá com conteúdos técnicos, participação de especialistas e orientação específica do setor em todas as plataformas da AEC, ajudando a proporcionar iniciativas setoriais de alta qualidade e orientadas por conhecimentos especializados. Será também criado um Grupo de Trabalho Conjunto para coordenar a colaboração, definir áreas prioritárias e supervisionar a implementação de atividades conjuntas.

A parceria reflete ainda um compromisso partilhado com o desenvolvimento de talentos e o reforço de capacidades no setor energético africano. Ao tirar partido das extensas redes de estudantes e jovens profissionais da SPE África, a colaboração irá alargar as oportunidades para que engenheiros em início de carreira interajam com líderes do setor, ganhem experiência com desafios técnicos do mundo real e apoiem o avanço da educação em ciências, tecnologia, engenharia e matemática (STEM) em todo o continente. Este enfoque na formação da próxima geração de engenheiros, especialmente mulheres, é considerado fundamental para sustentar o crescimento a longo prazo, a inovação e a excelência técnica na indústria energética africana.

«Ao alinhar mais estreitamente a experiência técnica global da SPE África com as plataformas e o trabalho de defesa de interesses da Câmara, estamos a garantir que África não só atrai investimento, mas também concretiza projetos que são eficientes, competitivos e concebidos para durar. Esta colaboração reforçará a qualidade do diá. técnico em todo o setor, ao mesmo tempo que promove o reforço de capacidades e o desenvolvimento das áreas STEM, criando um espaço onde a inovação, as soluções práticas e a colaboração significativa possam fazer avançar o setor», afirmou NJ Ayuk, Presidente Executivo da Câmara Africana de Energia.

A parceria irá também apoiar o papel mais abrangente da SPE África na organização de plataformas-chave do setor, incluindo a Conferência de Tecnologia de África (ATC), uma conferência técnica dedicada que reúne profissionais da energia, peritos técnicos e decisores do setor de toda a África e dos mercados globais. A conferência apresenta apresentações técnicas aprofundadas, investigação de ponta e debates liderados por especialistas sobre avanços em tecnologia, soluções de engenharia e práticas sustentáveis, servindo como um fórum fundamental para promover a inovação, reforçar a colaboração e abordar desafios técnicos e operacionais.

«A SPE África orgulha-se de estabelecer uma parceria com a Câmara Africana de Energia (AEC) para apoiar o avanço do setor energético africano através da excelência técnica e da colaboração profissional. Ao aliar a nossa experiência global às plataformas influentes da AEC, estamos a criar novas oportunidades para reforçar as capacidades, partilhar conhecimentos e acelerar a inovação», afirmou o Dr. Riverson Oppong, presidente da SPE África.

O Memorando de Entendimento estabelece um quadro de colaboração de dois anos, com projetos específicos e resultados a serem definidos através de acordos subsequentes. À medida que África continua a posicionar-se como um interveniente fundamental no panorama energético global, espera-se que a parceria entre a AEC e a SPE África melhore a qualidade do diá. no setor, reforce a capacidade técnica e apoie um desenvolvimento energético mais eficaz em todo o continente.

Distribuído pelo Grupo APO para African Energy Chamber.

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Mhlauli to present Youth Employment Intervention fourth quarter outcomes

Source: Government of South Africa

Mhlauli to present Youth Employment Intervention fourth quarter outcomes

The Deputy Minister in the Presidency Nonceba Mhlauli will on Friday present the fourth quarter Progress Report of the Presidential Youth Employment Intervention (PYEI).

According to the Presidency, the report will provide an update on government’s efforts to create pathways to earning opportunities for young people across South Africa.

“The media briefing will outline the progress made during the fourth quarter of the 2025/26 financial year and highlight the impact of the PYEI in connecting young people to work opportunities, entrepreneurship support, skills development programmes, and work-readiness initiatives,” the Presidency said in a statement on Thursday. 

READ | Presidential Youth Employment Intervention continues to produce results

The briefing will also reflect on key partnerships that continue to drive innovation and expand opportunities for youth participation in the economy. 

The PYEI is South Africa’s flagship initiative to create meaningful employment and economic opportunities for young people, aiming to integrate two million youth into the economy over the next decade.

The Presidential Youth Employment Intervention was launched in 2020 by President Cyril Ramaphosa to address the persistent challenge of youth unemployment in South Africa.

The PYEI is coordinated by a Project Management Office (PMO) within the Presidency, which provides strategic oversight, unblocks administrative bottlenecks, secures funding, and facilitates collaboration between government departments, the private sector, social partners, and young people themselves. – SAnews.gov.za 

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President Ramaphosa discusses migration and National Dialogue with religious and interfaith leaders

Source: President of South Africa –

President Cyril Ramaphosa has today, 17 June 2026, convened a meeting with religious and interfaith leaders at the Union Buildings, Pretoria, to discuss migration and the national dialogue. The meeting follows the government’s announcement of comprehensive measures to manage migration. 

South Africa has recently experienced a wave of anti-illegal migration protest. South Africans from every walk of life have raised concerns about migration, and illegal immigration in particular. 

These concerns arise in conditions of persistently high unemployment, poverty and hardship. They arise in communities that are plagued by crime, violence and corruption – and where there is increasing pressure on public services.

President Ramaphosa emphasised that illegal immigration is not the cause of South Africa’s social and economic difficulties.

“To tackle the challenges our country faces, we need faster and more inclusive growth, investment and the creation of jobs. We need to strengthen our efforts to tackle poverty and hunger. We must build safer communities by addressing the causes of crime, improving policing and ending corruption.

Migration is not the cause of our problems, but it is something that we must manage constructively and collectively, always holding firm to our Constitutional principles and shared values.”

President Ramaphosa called on the religious and interfaith leaders to work together with government and other social partners to ensure that people’s frustration is never turned into hatred, and that the stranger among us is met with the dignity that all our faith and traditions demand.

“We must demonstrate that there is a better way to manage these genuine concerns – a way that builds cohesion in communities and strengthens the bonds between us”, said President Ramaphosa.

National Dialogue:
President Ramaphosa added the importance of the National Dialogue, which together with the issue migration touches on the values that binds all South Africans as a nation and the shared responsibility to build a better future for the people of South Africa.

President Ramaphosa highlighted the vital role of the faith communities in the success of the National Dialogue and the need to ensure genuine inclusivity of the process.

“Faith communities are vital to this endeavour, for you reach into every village, township and suburb. The National Dialogue continues our proud tradition of coming together to confront our challenges, to build consensus and to chart a course for the future. At every defining moment in our history, we have found our way forward through dialogue with one another.”

The National Dialogue is a people-led process that unfolds from local dialogue to national gatherings, through which all South Africans are able to define a vision and plan for our country.”, said President Ramaphosa.

The religious and interfaith leaders welcomed the government’s five pillars of managing migration comprehensively. 

The five pillars are:
1. Enforcement of migration laws
2. Securing South Africa’s borders 
3 Strengthening of immigration systems 
4. Closing the gaps in the laws and policies 
5. Working with sister African countries through diplomatic channels 

President Ramaphosa on behalf of the government expressed his appreciation to the religious and interfaith leaders for their response and inputs presented in the meeting. Amongst issues raised by religious and interfaith leaders is the strengthening of law enforcement to respond to cases of vigilantism, amplification of government communications, enhancement of diplomatic interventions and engagement and attendance to the pending situation in Sherwood, Durban in the province of KwaZulu-Natal. 

In response to the situation in Sherwood, Durban, the Department of Home Affairs has begun deportation proceedings through dedicated priority courts that are enabling the accelerated processing of Malawian nationals seeking to leave the country. This is due to a lack of capacity on the Malawian government-initiated repatriation of its citizens.The department of Social Development will also be mobilising resources to assist with providing relief. 
  

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

Issued by: The Presidency
Pretoria
 

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Deputy Minister in The Presidency Nonceba Mhlauli to report on the progress of The Presidential Youth Employment Intervention (PYEI) Q4

Source: President of South Africa –

The Deputy Minister in the Presidency, Ms Nonceba Mhlauli, will on Friday, 19 June 2026, present the Quarter 4 Progress Report of the Presidential Youth Employment Intervention (PYEI), providing an update on government’s efforts to create pathways to earning opportunities for young people across South Africa.

The media briefing will outline the progress made during the fourth quarter of the 2025/26 financial year and highlight the impact of the PYEI in connecting young people to work opportunities, entrepreneurship support, skills development programmes, and work-readiness initiatives. The briefing will also reflect on key partnerships that continue to drive innovation and expand opportunities for youth participation in the economy.

Members of the media are invited to attend the briefing as follows:
Date: Friday, 19 June 2026
Time: 10h00
Venue: GCIS Media Centre, Hatfield, Pretoria

Media enquiries: Sandile Dayi on 072 667 0757

Issued by: The Presidency
Pretoria
 

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Islamic Corporation for the Development of the Private Sector (ICD) and SOCAR Sign Memorandum of Understanding (MOU) to Advance Shariah-Compliant Public-Private Partnership (PPP) Financing in Azerbaijan and ICD Member Countries

Source: APO

  • ICD and SOCAR signed an MOU on 17 June 2026 in Baku after the opening of the Private Sector Forum during IsDB Group Annual Meeting.
  • The MOU sets a framework to explore Shariah-compliant, limited-recourse PPP financing for projects in Azerbaijan and other ICD member states.
  • The Cooperation targets infrastructure and energy projects in Azerbaijan and other ICD’s member countries being developed through joint venture project companies co-owned by SOCAR and its partners (2026–2027).
  • The partnership leverages SOCAR’s sector expertise and ICD’s development finance mandate and experience to mobilize additional private investment and resources to fund targeted projects.

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org) and SOCAR signed a Memorandum of Understanding (“MOU”) on the sidelines of the IsDB Group Annual Meeting in Baku. The MOU  establishes a framework to jointly explore Shariah-compliant senior limited-recourse financing for Public-Private Partnership (PPP) projects in Azerbaijan and other ICD member countries.

Under the MOU, ICD and SOCAR will identify and evaluate financing opportunities for project companies co-owned by SOCAR and its investment  partners, with ICD providing tailored Shariah-compliant financing solutions. The collaboration, which will be active from  2026 through to 2027, leverages on recognised PPP structures to accelerate the development of  large-scale energy and infrastructure projects in Azerbaijan and other member countries of ICD.

Following the signing of the MOU, the Acting CEO of ICD, Dr Khalid Khalafalla commented: “This partnership with SOCAR marks a significant step in ICD’s strategy to mobilize private capital across our member countries. By combining SOCAR’s energy expertise with ICD’s Shariah-compliant financing, we are advancing the development of  PPP projects that will drive economic growth in Azerbaijan and beyond, in line with the IsDB Group’s development mandate and  priorities.”

Mr. ROVSHAN NAJAF, CEO of SOCAR, also stated: “The Memorandum of Understanding opens significant opportunities for the development of future cooperation between the parties on energy projects. The document is important in terms of facilitating joint efforts on projects that may be implemented in Azerbaijan and other member countries of ICD, as well as exploring suitable financing mechanisms and identifying potential areas of cooperation”.  

The partnership combines SOCAR’s deep expertise in oil, gas, and infrastructure with ICD’s multilateral development finance capabilities to mobilize private sector investment. It aligns with ICD’s broader mandate to support sustainable private sector growth across its 56 member countries through innovative Islamic finance, reinforcing multilateral development as a catalyst for economic transformation.

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

Media Contact: 
icd.communication@isdb.org

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

About SOCAR: 
SOCAR, a global energy company headquartered in Azerbaijan, specializes in the extraction, processing, and distribution of energy resources. As the largest integrated energy enterprise in the South Caucasus region, the company has a significant presence worldwide, underscoring its importance in various international markets

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 25 years of operational excellence, ICD complements IsDB’s activities by promoting  the growth and expansion of private sector, the development of capital markets,  and enhancing the role of market economies in its member countries. 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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Islamic Corporation for the Development of the Private Sector (ICD) Signs Mandate Letter with Azerconnect Group for a USD 20 Million Shariah-Compliant Financing to Advance Telecom Infrastructure in Azerbaijan

Source: APO


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  • ICD and Azerconnect Group signed a mandate letter on 17 June 2026 in Baku, Azerbaijan during the opening of the Private Sector Forum in IsDB Group Annual Meetings.
  • The USD 20 million long-term Shariah-compliant financing facility will  be used to part-finance Azerconnect Group’s capital expenditure program
  • The ICD’s facility  is expected to promote the creation of direct and indirect employment, generate additional tax revenues to the government, and strengthen Azerbaijan’s telecom infrastructure

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org) and Azerconnect Group signed a mandate letter for a USD 20 million Shariah-compliant facility to part-finance Azerconnect Group’s capital expenditure program. The signing took place on 17th June 2026 on the sidelines of the Private Sector Forum during the IsDB Group Annual Meetings in Baku.

The facility will support Azerconnect Group’s telecom infrastructure expansion, aligning with Azerbaijan’s digitization agenda. Azerconnect Group, part of NEQSOL Holding, offers mobile, internet, leased lines, and digital services including FinTech, AdTech, and Media & TV.

The transaction advances ICD’s mandate to foster private sector growth through Islamic finance, while generating employment and tangible telecom infrastructure improvements across Azerbaijan. It demonstrates ICD’s commitment to supporting the development of strategic sectors like telecom by bridging funding gaps, supporting diversification, and driving sustainable development.

Commenting on the signing, Dr. Khalid Khalafalla, the Acting Chief Executive Officer of ICD, stated: ” Telecom is a critical pillar of Azerbaijan’s economic modernization, and ICD is proud to support Azerconnect Group through Shariah-compliant financing. This mandate reflects our commitment to mobilizing long-term capital for infrastructure and private sector growth. We look forward to working with Azerconnect Group and NEQSOL to conclude the transaction and deliver lasting impact for Azerbaijan”

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

Media Contact:
icd.communication@isdb.org

About Azerconnect Group:
Azerconnect Group, the region’s leading ICT company, delivers advanced solutions, including Mobile, Internet, International leased lines provisioning, FinTech, AdTech, and Media/TV. Delivering AI-powered solutions to nearly 6 million customers, Azerconnect Group includes companies such as Bakcell, AzerTelecom, Citynet, UltraNet, Goldenpay, DataSphere, and NewMedia. With more than 4,000 professionals, Azerconnect Group is one of Azerbaijan’s largest employers.

Azerconnect Group is part of NEQSOL Holding, an internati onal group of companies operating in various countries and sectors.

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 25 years of operational excellence, ICD complements IsDB’s activities by promoting the growth and expansion of private sector, the development of capital market and enhancing the role of market economies in its member countries. 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 and follow ICD on X (@icd_ps), LinkedIn (@icdps), Facebook (@icdps), and YouTube (@icdps).

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La Fondation Visa accorde une subvention de 113 millions de Francs FCFA pour soutenir l’éducation des jeunes et leur insertion professionnelle en Côte d’Ivoire

Source: Africa Press Organisation – French

La Fondation Visa (www.Visa.com) annonce l’octroi d’une subvention de 113 millions de francs CFA (200000 USD) à la Fondation AVSI en Côte d’Ivoire. Cette organisation à but non lucratif œuvre à améliorer les conditions de vie des jeunes en situation de vulnérabilité, à travers des initiatives dédiées à l’éducation, à l’emploi des jeunes et à la protection de l’environnement. En 2025, AVSI a accompagné directement plus de 400 000 bénéficiaires.

En Côte d’Ivoire, certains jeunes peuvent se heurter à des obstacles dans l’accès à une éducation de qualité et à des opportunités d’insertion professionnelle durable dans le secteur formel. Ceux qui ont besoin d’un accompagnement particulier, notamment lorsqu’ils ne bénéficient pas d’un environnement familial stable, peuvent nécessiter un soutien renforcé au moment d’entrer dans la vie adulte. Pour contribuer à répondre à ces enjeux, cette subvention soutiendra les programmes d’AVSI Côte d’Ivoire consacrés à l’éducation, à la formation professionnelle et au développement des compétences, afin d’aider les jeunes à préparer leur avenir et à accéder plus durablement au marché du travail.

« Les jeunes confrontés à ces réalités font preuve d’une réelle détermination à s’en sortir, mais ils manquent souvent d’accès à l’éducation, aux réseaux et à l’accompagnement nécessaires pour réussir », déclare Dr Bamba Lassiné, Représentant Pays d’AVSI Côte d’Ivoire. « Grâce au soutien de la Fondation Visa, nous pouvons transformer cette détermination en opportunités concrètes, en renforçant les compétences des jeunes, en facilitant leur accès à l’emploi et en élargissant leurs perspectives pour l’avenir. »

Cette subvention s’inscrit dans le cadre du programme Visa Foundation Gives, une initiative visant à répondre aux enjeux sociaux locaux dans les communautés où vivent et travaillent les collaborateurs de Visa. Ce programme offre également aux employés de Visa l’opportunité de s’engager bénévolement aux côtés d’AVSI Côte d’Ivoire. À cette occasion, les équipes de Visa ont assemblé 150 kits d’éducation financière et de football destinés aux jeunes des centres sociaux d’Abidjan.

« Ce fut un réel privilège de s’engager aux côtés d’AVSI et des équipes Visa à l’occasion du lancement de ce partenariat », souligne Kelly Mahon Tullier, Vice-Chair de Visa Monde en charge des Affaires Institutionnelles et des Ressources Humaines, et qui préside également la Fondation Visa. « Chez Visa, nous sommes convaincus que l’investissement dans la jeunesse est un levier d’impact durable. Nous sommes fiers de nous associer à AVSI Côte d’Ivoire pour accompagner les jeunes Ivoiriens, notamment à travers l’éducation financière, et leur ouvrir l’accès à de nouvelles opportunités économiques et à un avenir prometteur. »

Distribué par APO Group pour Visa Inc..

À propos d’AVSI Côte d’Ivoire :
AVSI agit pour un monde où chacun, conscient de sa valeur et de sa dignité, peut être acteur de sa propre vie et de celle de sa communauté. En Côte d’Ivoire, l’organisation s’engage à protéger les enfants et les jeunes et à leur permettre de réaliser pleinement leur potentiel, notamment à travers l’éducation, la formation professionnelle, le développement de compétences entrepreneuriales et le mentorat. Cette subvention sera administrée par AVSI-USA, entité enregistrée aux États-Unis en tant qu’organisation à but non lucratif de type 501(c)(3). Pour en savoir plus, consulter : https://AVSI-USA.org et http://apo-opa.co/4vySi2F

À propos de la Fondation Visa :
La Fondation Visa œuvre en faveur d’économies inclusives permettant aux individus, aux entreprises et aux communautés de prospérer durablement. À travers ses actions de financement et d’investissement, elle soutient en priorité la résilience et le développement des micro et petites entreprises à travers le monde. Elle intervient également pour répondre aux besoins des communautés et aux situations d’urgence. La Fondation Visa est enregistrée aux États-Unis en tant qu’organisation à but non lucratif de type 501(c)(3). Pour en savoir plus, consulter : Visa Foundation (http://apo-opa.co/3SMuGZx).

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Outcomes of the Special Meeting between the Traditional Leadership and Inter‑Ministerial Committee on Migration Management

Source: President of South Africa –

Deputy President Shipokosa Paulus Mashatile, today Wednesday, 17 June 2026, convened a special meeting with the National House of Traditional and Khoi-San Leaders, led by Kgosi Seathlolo, together with the Inter‑Ministerial Committee on Migration, chaired by the Minister of Justice and Constitutional Development, Mmamoloko Kubayi.

The meeting reaffirmed Government’s commitment to the Comprehensive Approach for Migration Management, introduced by President Cyril Ramaphosa. 

This five‑pillar plan seeks to curb irregular migration, strengthen border security, and enforce labour and immigration laws, while upholding constitutional values and human dignity.

A detailed presentation was delivered by the Director‑General in the Presidency, Ms Phindile Baleni, outlining the work being undertaken to resolve the challenges posed by undocumented migrants. The presentation emphasized coordinated government action, improved border management, and lawful enforcement measures that respect both sovereignty and human rights.

Traditional leaders highlighted their critical role as custodians of heritage and guardians of community integrity, particularly in rural and borderland communities. 

In this regard, they have pledged to continue supporting efforts to register businesses, keep records of foreign nationals, and mediate tensions in communities affected by migration pressures.

The meeting expressed strong support for the President’s call to implement the five‑pillar plan, noting that migration must be managed in a way that protects South Africa’s sovereignty while strengthening democracy and fostering social cohesion.

Deputy President Mashatile underscored that migration is part of South Africa’s historical and contemporary story, and must be addressed with firmness, fairness, and compassion. Guided by the spirit of Ubuntu, he emphasized that migration should unite rather than divide communities, contributing to a South Africa that is safe, inclusive, and prosperous.

Media enquiries: Mr Keith Khoza, Acting Spokesperson to the Deputy President on 066 195 8840

Issued by: The Presidency
Pretoria
 

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Islamic Corporation for the Development of the Private Sector (ICD) Signs USD 15 Million Shariah-Compliant Small and Medium Enterprises (SME) Financing Deal with TuranBank

Source: APO – Report:

  • ICD and TuranBank signed an Expression of Intent for a proposed USD 15 million Shariah-compliant Line of Finance in Azerbaijan.
  • The financing will support onward lending to private sector projects, focusing on SME development.
  • The signing took place on 17 June 2026 in Baku, on the sidelines of the IsDB Annual Meeting Private Sector Forum.
  • This engagement deepens a decade-long relationship, with total ICD commitments to TuranBank exceeding USD 33 million across four deals.

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org) and TuranBank OJSC signed an Expression of Intent for a proposed USD 15 million Shariah-compliant Line of Finance to support private sector projects in Azerbaijan. The signing took place on the opening of the Private Sector Forum alongside with IsDB Group Annual Meetings.

The proposed facility, subject to due diligence and internal approvals, will be extended to TuranBank for onward financing to eligible SMEs. As a mid-tier commercial bank with strong expertise in MSME and SME financing, TuranBank is well-positioned to deploy the funds effectively through its existing infrastructure.

The facility supports Azerbaijan’s SME sector by bridging financing gaps for smaller enterprises. ICD aims to reach a significant number of SMEs across the country through TuranBank,

ICD’s engagement with TuranBank dates back to 2006, with cumulative commitments exceeding USD 33 million, including a USD 15 million Line of Finance concluded in September 2025. This Expression of Intent signals a deepening of that long-standing partnership.

The transaction advances ICD’s mandate to mobilize Shariah-compliant financing for private sector growth, employment, and economic resilience across its 56 member countries.

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

Media Contact:
​For media enquiries, please contact:
icd.communication@isdb.org

About TuranBank OJSC:
TuranBank OJSC is a mid-tier commercial bank in Azerbaijan with a pronounced focus on MSME and SME financing. As of Q3 2025, the Bank reported total assets of AZN 893 million and a loan portfolio of AZN 696 million, with operating profit growing 57% year-on-year in H1 2025. TuranBank maintains an active international partnership profile, having secured financing from ADB, BlueOrchard, and ICD, the latter extending a USD 15 million Line of Finance in September 2025 for a five-year term to support SME lending in Azerbaijan. The Bank has also demonstrated a commitment to digital transformation through the launch of Open Banking functionality and was recognised as the winner of the “Best SME Deal of the Year” at the ADB’s Trade and Supply Chain Finance Program Awards in Singapore. TuranBank represents a credible, growth-oriented second-tier institution with a clear strategic niche and strengthening DFI relationships. For more information, visit www.Turanbank.az.

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 25 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 and follow ICD on X (@icd_ps), LinkedIn (@icdps), Facebook (@icdps), and YouTube (@icdps).

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