MIL Africa Engine

Source: APO

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Finance Minister Dr. Cassiel Ato Forson has inaugurated a new 9-member board for the National Investment Bank (NIB), pledging a major government decision to recapitalise the bank.

Speaking at the inauguration ceremony, Dr. Ato Forson acknowledged that NIB had been subjected to political interference in the past but emphasized that this era has come to an end. “NIB was turned into a political football. But that ends now,” the Finance Minister declared.

The Finance Minister revealed that the government has taken a bold decision to recapitalise NIB and committed to reveal fuller details of the NIB recapitalisation plan during the upcoming mid-year review.

The newly inaugurated board is chaired by Mr. Frank Adu Jnr., who expressed gratitude to the Finance Minister and appealed for continued support to help turn around the bank’s fortunes.

The complete board composition includes Managing Director, Dr. Doli-wura Awushi Abdul-Malik Seidu Zakarai, Hon. Dr. Othniel Ekow Kwainoe, Hon. Ebenezer Kwaku Addo. Other members are Dr. Mrs. Mercy Naa Aku Ofei-Koranteng, Dr. Shani Bashiru, Mr. Max George Cobbina, Dr. Kwasi Akyem Apea-Kubi, and Dr. Alfred Attuquaye Botchway.

Distributed by APO Group on behalf of Ministry of Finance – Republic of Ghana.

Source: APO

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The Minister for Finance, Dr. Cassiel Ato Forson, has inaugurated a new Board of Directors for the Agricultural Development Bank (ADB), with a call on the members to stay true to the bank’s core mandate of championing Ghana’s agricultural transformation.

At a brief ceremony to formally induct the board, the Minister underscored the critical role of agriculture in national development, noting that no country can achieve sustainable growth without a vibrant and resilient agricultural sector.

“I have therefore tasked the new board to remain focused and guided by their primary mandate — serving Ghana’s agricultural sector,” he stated.

In a significant announcement, Dr. Ato Forson assured the new board and management of plans to recapitalize the Agricultural Development Bank in 2026.

This move, he explained, is aimed at strengthening ADB’s financial position to better support farmers, agribusinesses, and agricultural value chain initiatives.

The newly inaugurated board is chaired by Mr. Kenneth Kwamina Thompson, with Mr. Edward Ato Sarpong serving as Managing Director.

Other distinguished members include:

•             Hon. Andrew Dari Chiwitey

•             Mr. Siisi Essuman-Ocran

•             Hon. Dr. E. Prince Arhin

•             Hon. Misbahu Mahama Adams

•             Wing Commander Samuel J.A. Allotey

•             Mr. Courage Akanwunge Asabagna

•             Mr. Abdul Nasir M. Saani

Distributed by APO Group on behalf of Ministry of Finance – Republic of Ghana.

Source: APO

Verdant IMAP (www.Verdant-Cap.com) acted as sole financial adviser to Miro Forestry & Timber Products (“Miro”) on its equity capital raise.

The equity capital raise was led by Lagata an investment company focused on active investments in sub-Sahara Africa with significant experience in the forestry sector in the West Africa region.  Lagata, which is now Miro’s largest shareholder, brings strategic value and alignment with Miro’s long-term vision.  Five existing shareholders in Miro also participated in the equity funding transaction, Agwa Partners, British International Investment, Finnfund, FMO and Mirova, demonstrating continued confidence in Miro’s strategy, impact and commercial potential, and validating the overall transaction structure.  Proceeds from the equity capital raise will be used to fund operations, working capital requirements, and ongoing planting activities aligned with Miro’s business plan.

The equity capital raise was achieved during a challenging period for the wider industry, with macroeconomic pressures and a prolonged downturn in plywood prices. Yet demand continues to grow for resilient, responsibly sourced materials. Miro’s vertically integrated model, combining certified sustainable forestry, local job creation, and advanced plywood manufacturing, offers a compelling solution to global buyers looking to secure long-term, ethical supply. 

This transaction highlights Verdant IMAP’s ability to structure and execute complex capital solutions for its clients, while reinforcing its strong relationships with leading development finance institutions. The transaction is Verdant IMAP’s sixth completed transaction in the broader agro-industrial sector in the last 24 months.  The transaction also represents Verdant IMAP’s fifth major transaction in West Africa in the last four years. 

Berend Jan Kingma, CEO of Miro, commented:
 
“We are proud to welcome Lagata as our new principal shareholder. Their experience in forestry and deep understanding of African markets make them a natural partner for the next phase of Miro’s growth. We are equally grateful for the continued support of our existing shareholders, who share our belief in the power of sustainable forestry to deliver both commercial and social value. With this investment, we’re well positioned to strengthen our global reach and deepen our impact across the region.”

Distributed by APO Group on behalf of Verdant Capital.

Media Enquiries:
Orient Mahonisi
T: +27 10 140 3700
E: orient.mahonisi@verdant-cap.com

About Verdant IMAP:
Verdant IMAP is a leading investment bank operating on a pan-African focus, specialising in M&A and in private capital markets.  Verdant IMAP is the IMAP partner firm for its region.  IMAP with partner firms in nearly 50 countries, with over 600 M&A professionals, completing over 250 M&A transactions per year, reinforces Verdant IMAP’s capability to deliver innovative financial solutions to clients across Africa and around the World. www.Verdant-Cap.com 

About Miro Forestry & Timber Products:
Founded in 2009, Miro is a vertically integrated plywood manufacturing business headquartered in the United Kingdom, with operations in Ghana and Sierra Leone. The company manages over 20,000 hectares of sustainably planted timberland, producing high-quality FSC-certified hardwood plywood and ancillary timber products. Miro supplies customers globally, including in North America, Europe, the Middle East, and in local African markets.  Miro employs over 4,000 people.

About Lagata:
Lagata invest in businesses in growth markets, with a specific expertise in emerging markets and particularly in Sub–Saharan Africa. Lagata puts responsible investment at the core of its investment strategy, focusing on growing businesses that can generate sustainable profits and create a positive social and environmental impact. Lagata adds long-term value to their businesses while aiming to improve the infrastructure where they operate. Lagata achieves this through hands on involvement, and by connecting these companies to the ecosystem of support services that Lagata have built up throughout the region.

Source: APO

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Finance Minister, Dr. Cassiel Ato Forson, has inaugurated a new Board of Directors for Consolidated Bank Ghana Limited (CBG).

Speaking at the swearing-in ceremony, Dr. Ato Forson reminded the board that CBG stands as a symbol of the state’s intervention, when approximately GH₵30 billion was spent to purportedly salvage and restore confidence in the financial sector.

“I have assured the board of the government’s commitment to recapitalize CBG in the coming year. However, it is equally important that this board safeguards taxpayers’ money, as you have been entrusted with a crucial national asset,” he charged.

The Finance Minister also issued a firm warning against the era of excessive salaries and board allowances within State-Owned Enterprises (SOEs), stressing that such practices would not be tolerated under the current administration.

Newly appointed Board Chairman, Mr. Ernest Mawuli Agbesi, expressed his gratitude for the opportunity to serve the nation once again. He commended the government’s resolve to recapitalize the bank and pledged that the board would work diligently to deliver value to both the government and the Ghanaian people.

The newly inaugurated CBG Board comprises:

•             Mr. Ernest Mawuli Agbesi — Chairperson

•             Dr. Naomi Wolali Kwetey — Managing Director

•             Ms. Irene Ackuaku — Member

•             Mr. David Adom — Member

•             Mr. Michael Kwasi Anyamesem — Member

•             Mr. Stephen Kporzih — Member

•             Dr. Sa-ad Iddrisu — Member

•             Mrs. Immaculate Kawe Kanlisi — Member

•             Mr. John Alexander Ackon — Member

Distributed by APO Group on behalf of Ministry of Finance – Republic of Ghana.

Source: APO

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The Portfolio Committee on Sports, Arts and Culture Chairperson, Mr Joe McGluwa, has apologised to three-time world 800-metre champion Ms Caster Semenya for the treatment she has received at the hands of the International Association of Athletics Federations (IAAF), which has sought to unfairly criminalise her sporting ability.

The committee noted the ruling of the European Court for Human Rights, which has correctly ruled that the IAAF had discriminated against Ms Semenya. “This is vindication for the support. As the Chairperson of the committee, I was fortunate to be involved in all these controversies since 2010. Caster has stood the test of time despite being ridiculed because someone, somewhere, could not believe that a girl from Limpopo could make us proud,” Mr McGluwa said.

“We should now close this chapter once and for all as a decision had finally been made. One can only imagine how South Africa’s jewel has been affected and frustrated by all of this. And for all of this, we South Africans say we apologise and we salute you,” said Mr McGluwa.

Mr McGluwa said everybody should focus on the future now and, if possible, Athletics South Africa should find a way to contribute in new ways to her sport and her country.

In 2021, Ms Semenya appealed to the European Court following a set of IAAF special regulations, which ordered her to lower her testosterone levels. “We can’t run away from it; Caster is talented. It will take our country a long while to produce another powerhouse athlete as her,” concluded Mr McGluwa.

Distributed by APO Group on behalf of Republic of South Africa: The Parliament.

Source: APO

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On July 9, 2025 local time, Premier Li Qiang of the State Council met with Speaker of the Egyptian House of Representatives Hanafy Ali Gebaly in Cairo.

Li Qiang said that although China and Egypt are geographically distant, the friendship between the two countries has a long-standing history. Since the establishment of diplomatic relations, no matter how the international landscape changes, the traditional friendship between China and Egypt remains unchanged, and the momentum of bilateral relations and cooperation continues to grow, demonstrating a strong internal dynamism. China is ready to work with Egypt to further promote traditional friendship, enhance political mutual trust, firmly support each other’s core interests and major concerns, and continuously elevate bilateral relations to new heights and achieve more new results in bilateral cooperation, so as to better benefit the people of both countries. Li Qiang expressed the hope that the two sides will maintain friendly exchanges between legislative bodies, strengthen policy communication and share experience on state governance, and continuously enhance mutual understanding.

Li Qiang pointed out that China is ready to deepen development synergies with Egypt, follow the guidance of high-quality Belt and Road cooperation, and make use of the China-Arab States Cooperation Forum and the Forum on China-Africa Cooperation to improve the quality and efficiency of bilateral economic and trade cooperation. The two sides should focus on the cooperation in the sustainable operation of bilateral landmark projects to continuously improve the level of two-way trade and investment facilitation, strengthen industrial synergies and market connectivity, expand cooperation in emerging fields such as digital economy and green development, and promote a higher level of mutual benefit and win-win results. China is ready to maintain close communication and coordination with Egypt within mechanisms including the United Nations, BRICS and the Shanghai Cooperation Organization, promote all parties to jointly safeguard the basic norms governing international relations and the multilateral trading system, and inject more positive energy into the cause of global peace and development.

Hanafy Ali Gebaly said that Egypt and China, as two great ancient civilizations, share a long history of exchanges and profound friendship between their peoples. Egypt admires the remarkable achievements China has made in its economic and social development, and firmly believes that under the leadership of President Xi Jinping, China will successfully realize Chinese modernization, bringing new opportunities for cooperation between China and other developing countries. The Egyptian side abides by the one-China principle, respects China’s sovereignty and territorial integrity, and opposes interference in China’s internal affairs. Egypt stands ready to expand practical cooperation with China under the framework of the Belt and Road Initiative in areas such as trade, investment and new energy, enhance multilateral coordination, uphold the multilateral trading system with the World Trade Organization at its core, and jointly address global challenges. The Egyptian House of Representatives is willing to strengthen exchanges and cooperation between the legislative bodies of both countries.

Distributed by APO Group on behalf of Embassy of the People’s Republic of China in the Republic of Zambia.

Source: APO

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The municipal council, community leaders, elected officials, civil society representatives, including women and youth leaders, and academics of Bani Walid met with Deputy Special Representative of the Secretary General for Political Affairs, Stephanie Koury, during public consultations held on Saturday.

During a townhall with representatives of the Bani Walid Social Council, speakers deplored the absence of national reconciliation and unresolved human rights violations, particularly those linked to the implementation of Law No. 7 of 2012.

One participant  in expressing frustration with the status quo, passionately declared: “Libya does not need agents to decide on its behalf. Instead, it needs an end to the political bodies perpetuating the status quo and the organization of presidential and legislative elections under the supervision of the Supreme Judicial Council.”

“The people of Bani Walid are very clear in their demands and needs,” said DSRSGP Koury, addressing the  Townhall attendees. “I heard deep frustrations and the need to advance national reconciliation, equitable development, and effective political representation. Only a genuine, inclusive and comprehensive process can effectively address these longstanding challenges.”

Throughout other meetings with municipal councils of Bani Walid, Tininay, and Mardum, as well as with representatives from civil society organizations, youth, and women, calls for a fundamental change of Libya’s political and security landscape were consistently echoed. Participants specifically advocated for activating dialogue mechanisms, establishing a constituent body, broadening political participation, and forming a compact, technocratic government.

A recurring theme in most meetings was criticism directed at UNSMIL’s perceived slow progress in advancing the political process. However, numerous participants urged the mission to play a greater role, particularly in national reconciliation, and to adopt a more robust stance in sanctioning those obstructing the political process or contributing to the deteriorating security situation. Koury clarified that UNSMIL will not hesitate to name the spoilers of the political process.

In discussing the way forward, DSRSG Koury noted, “We have to work together to resolve the issues raised not only by the people of Bani Walid, but also by communities across the country, through an inclusive political process. We need to move beyond the cycle of chronic transitions for the greater good of Libya and its people.” .

Participants also underscored the importance of empowering municipal councils with greater authority and resources from the central government. They pointed out that insufficient funding not only hampers the delivery of essential services, including healthcare and education, but also erodes public confidence in the electoral process.

The vital contributions of women and youth to their communities were also highlighted, along with calls for their meaningful empowerment and full inclusion in decision-making processes.

The mission’s visit to Bani Walid concluded with a stop at the city’s University, where the delegation met with academics and members of the House of Representatives and the High Council of State. Discussions centered on the options and recommendations put forward by the Advisory Committee and potential lasting solutions to the political stalemate. Across all meetings, a consistent demand was that as the UNSMIL-facilitated political process advances, the UN should prioritize greater inclusion of Bani Walid, broader participation and meaningful representation of voices from across Libya, including the Warfalla tribe.  The academics indicated they are going to study the Advisory Committee options in detail and provide written comments.

In May 2025, UNSMIL published the Executive Summary of the Advisory Committee’s Report which outlines four proposed options to advance the political process : 

1. Conducting presidential and legislative elections simultaneously; 
2. Conducting parliamentary elections first, followed by the adoption of a permanent constitution; 
3. Adopting a permanent constitution before elections; or 
4. Establishing a political dialogue committee, based on the Libyan Political Agreement to finalize electoral laws, executive authority and permanent constitution. 

All participants were encouraged to complete the online poll [link] and share it widely to ensure the voices of Bani Walid and its communities are reflected in the design of Libya’s political roadmap.

Distributed by APO Group on behalf of United Nations Support Mission in Libya (UNSMIL).

Source: APO

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President John Dramani Mahama on Thursday formally received the Letters of Credence from five new envoys accredited to Ghana. The presentation of credentials marks the official beginning of their diplomatic missions in the country.

Speaking after receiving the letters of credentials from the new envoys, President Mahama reiterated Ghana’s commitment to deepening bilateral relations with friendly countries worldwide. He emphasised the importance of fostering mutually beneficial partnerships, particularly in the areas of trade, economic development, technical and security cooperation, as well as tourism and cultural exchanges.

The new envoys who presented their credentials are:
– Her Excellency Mrs. Maria Da Conceicao De Souse Pilar, Ambassador of the Republic of Portugal.
– His Excellency Conrad Vincent Mederic, High Commissioner of The Republic of Seychelles.
– His Excellency Citizen Jesús Albert Garcia, Ambassador of the Bolivarian Republic of Venezuela.
– His Excellency Gonfouli Souariba, Ambassador of the Republic of Chad.
– His Excellency Maximin Mangoualamangoye, High Commissioner of the Republic of Gabon.

President Mahama extended his felicitations to the envoys on their appointments and expressed confidence that their presence in Ghana would contribute significantly to solidifying existing friendships and exploring new avenues for cooperation between Ghana and their respective countries.

Distributed by APO Group on behalf of The Presidency, Republic of Ghana.

Source: APO

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The Chairperson of the Portfolio Committee on Justice and Constitutional Development, Mr Xola Nqola, has welcomed the 15-year prison sentence handed down to former apartheid police officer Mr Johan Marais for the 1987 killing of student activist Mr Caiphus Nyoka.

Mr Marais was sentenced today in the Pretoria High Court. He is one of three individuals charged in connection with Mr Nyoka’s murder and pleaded guilty, stating that he had been ordered to assassinate Mr Nyoka.

Mr Nqola said: “This sentence is indeed welcome. A young man was robbed of his life, a bright future. The committee would like to see the finalisation of all apartheid crimes. This will bring some closure for the families and friends of our liberation struggle heroes, even if it does not bring back their loved ones.”

He added: “We commend the prosecuting team for ensuring that justice is done. This should be a message to all those unfinalised matters that the committee would like we want it to proceed in this manner.”

Mr Nqola emphasised that the committee will continue to monitor similar cases, as survivors and families should not have to wait decades for justice.

Distributed by APO Group on behalf of Republic of South Africa: The Parliament.