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International Islamic Trade Finance Corporation (ITFC)

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    • The International Islamic Trade Finance Corporation (ITFC) Extends US$ 40 million with Vakif Katilim Bank and Ziraat Katilim Bank and to Support the Private Sector in Türkiye
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Source: International Islamic Trade Finance Corporation (ITFC) |

The International Islamic Trade Finance Corporation (ITFC) Extends US$ 40 million with Vakif Katilim Bank and Ziraat Katilim Bank and to Support the Private Sector in Türkiye

The collaboration aims to bolster the growth of the private sector and SMEs in Türkiye through the provision of Sharia-compliant Murabaha financing

The International Islamic Trade Finance Corporation (ITFC) (http://www.ITFC-idb.org), member of the Islamic Development Bank (IsDB) Group, announce the signing of two significant Murabaha Financing Agreements with Vakif Katilim Bank and Ziraat Katilim Bank, valued at USD 20 million each. The agreements were formalized during the visit of Eng. Hani Salem…

Africa Finance Corporation (AFC)

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    • AFC signs a US$350 million long-term line of credit with the AfDB to support infrastructure projects (1)
    • AFC signs a US$350 million long-term line of credit with the AfDB to support infrastructure projects (2)
    • AFC signs a US$350 million long-term line of credit with the AfDB to support infrastructure projects (3)
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Source: Africa Finance Corporation (AFC) |

Africa Finance Corporation Signs US$350 Million Long-term Line of Credit with African Development Bank for Infrastructure

The financing agreement with AfDB will enable AFC to mobilise additional resources towards continued development of infrastructure projects in its focus sectors

Africa Finance Corporation (AFC) (www.AfricaFC.org), the leading infrastructure solutions provider on the continent, announced that it has signed a US$350 million long-term line of credit with the African Development Bank (AfDB). The agreement, which was signed during the ongoing 28th Conference of the Parties (COP 28), supports urgently needed financing…

Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)

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    • ICIEC Partners BOAD at COP 28 to Boost Sustainable Investment and Prosperity in West Africa (1)
    • ICIEC Partners BOAD at COP 28 to Boost Sustainable Investment and Prosperity in West Africa (2)
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Source: Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) |

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) Partners the West African Development Bank (BOAD) at the Conference of the Parties (COP 28) to Boost Sustainable Investment and Prosperity in West Africa

The core focus of the partnership is to address key areas such as climate change adaptation and communication projects

In a significant move at COP 28, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (http://ICIEC.IsDB.org), a leading multilateral credit and political risk insurer, and the West African Development Bank (BOAD) have inked a Memorandum of Understanding (MOU). This collaboration marks a milestone in promoting economic…

Association of Chartered Certified Accountants (ACCA)
Source: Association of Chartered Certified Accountants (ACCA) |

Empowering Finance Professionals is Fundamental in Attaining Sustainable Development in Africa (By Alta Prinsloo)

In today’s world, finance and accounting professionals must stay updated with the latest industry trends, technologies, and regulatory changes

By Alta Prinsloo, Chief Executive Officer, Pan African Federation of Accountants (PAFA) The finance and accounting profession has undergone significant transformation over the years, coming from a primarily transactional and compliance-focused role to a strategic and analytical function that drives business growth, fosters compliance, embraces technology, and integrates sustainability principles…

European Investment Bank (EIB)
Source: European Investment Bank (EIB) |

Blue Mediterranean Partnership steps up support for sustainable blue economy

EIB, EBRD, UfM, EC, AFD, CDP, KfW, donors and beneficiary countries sign cooperation agreement at COP28

Blue Mediterranean Partnership to support transition to a sustainable blue economy in the Mediterranean region; Partnership to start operating in early 2024; Partners aim to mobilise at least €1 billion in investments. At COP28 (www.COP28.com), partners and donors involved in the Blue Mediterranean Partnership reinforced their support for developing the sustainable…

European Investment Bank (EIB)
Source: European Investment Bank (EIB) |

European Investment Bank and Bank of Kigali outline EUR 100 million plan to enable Rwandan farmers adapt to climate change

Agriculture is a key part of Rwanda’s economy, contributing to over 60% of total employment

New agriculture and agri-business climate finance to support farmers and agri-businesses prepare for extreme weather, increased drought and increased rains; largest ever EIB (https://www.EIB.org) backing for business investment in Rwanda; initiative to increase access to climate finance by women owned businesses; new partnership announced at COP28 as a model for climate…

Africa Finance Corporation (AFC)

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    • AFC President & CEO, Samaila Zubairu, and BOAD President and Chairman, Serge Ekue, have signed a strategic Memorandum of Understanding (MoU) to jointly promote infrastructure and economic progress across Western African states (1)
    • AFC President & CEO, Samaila Zubairu, and BOAD President and Chairman, Serge Ekue, have signed a strategic Memorandum of Understanding (MoU) to jointly promote infrastructure and economic progress across Western African states (2)
    • AFC President & CEO, Samaila Zubairu, and BOAD President and Chairman, Serge Ekue, have signed a strategic Memorandum of Understanding (MoU) to jointly promote infrastructure and economic progress across Western African states (3)
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Source: Africa Finance Corporation (AFC) |

West African Development Bank and Africa Finance Corporation form strategic partnership to drive economic development

The MoU marks a pivotal alliance between two leading multilateral development finance institutions on the continent, signalling the intent of AFC and BOAD to foster economic alignment and equitable growth in West Africa

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, and the West African Development Bank (BOAD), a regional financial institution mandated to drive economic unity and advancement in West Africa, yesterday announced a strategic Memorandum of Understanding (MoU), solidifying their joint commitment to promote infrastructure and economic progress…

African Development Bank Group (AfDB)

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    • The African Development Bank’s action will contribute to increasing the State’s public resources to improve people’s living conditions
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Source: African Development Bank Group (AfDB) |

Senegal: African Development Bank loans over EUR 74 million to strengthen internal resource mobilization and support industrial activities

The objective is to allow the government to have more resources to finance the structuring projects and programmes of the Senegal Emerging Plan and improve people’s living conditions

The Board of Directors of the African Development Bank Group (www.AfDB.org) granted a loan of EUR 74.5 million to Senegal in Abidjan on 1 December 2023 to support the implementation of the first phase of the Resource Mobilization and Industrial Development Support Programme (PAMRDI-I). The programme has a number of…

African Energy Chamber

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    • The Developed World’s Broken Promises: How Can Africa Finance the Energy Transition?
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Source: African Energy Chamber |

The Developed World’s Broken Promises: How Can Africa Finance the Energy Transition? (By NJ Ayuk)

The Copenhagen Accord wasn’t a binding promise, but it did set up a durable framework for future talks

By NJ Ayuk, Executive Chairman, African Energy Chamber (www.EnergyChamber.org) From an African perspective, one of the most important things to come out of COP15, the 2009 United Nations Climate Change Conference in Copenhagen, was the formal recognition of the fact that lower-income countries were not in a position to bear…

African Development Bank Group (AfDB)

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    • The African Development Bank will make a substantial contribution to the construction of the Laropi-Moyo-Afoji road in Uganda to improve rural transport and facilitate regional integration. © AfDB 2023
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Source: African Development Bank Group (AfDB) |

Uganda: African Development Bank to lend more than $252 million to improve rural transport and facilitate regional integration

The financial support consists of two loans: $179.68 million from the African Development Bank and $73.15 million from the African Development Fund, the Bank Group's concessional loan window

Meeting on 1 December in Abidjan, the Board of Directors of the African Development Bank Group (www.AfDB.org) approved a loan of $252.83 million to Uganda, to fund the construction of the Laropi-Moyo-Afoji and Katuna-Muko-Kamuganguzi road. The financial support consists of two loans: $179.68 million from the African Development Bank and $73.15 million from…