The Board of Directors of the Islamic Corporation for the Development of the Private Sector(ICD),the private sector arm of the Islamic Development Bank(IsDB), has approved the appointment of Dr. Khalid Khalafalla as Acting Chief Executive Officer (CEO), effective 19 March 2025 Dr. Khalafalla brings extensive experience from his career within the IsDB Group. Since December 2024, he has been serving as CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). This was contained in an official statement issued by ICD in Jeddah,Thursday. The Chairman of…
Category: ECONOMY
Ghana Drives Small-Scale Gold Mining (ASGM) Growth, Sustainable Mining with Global Partnerships
ACCRA, Ghana, March 26, 2025/ — Ghana is strengthening its collaboration with international partners to enhance (https://apo-opa.co/4kYCvVX) its small-scale gold mining (ASGM) sector and the broader gold value chain for socioeconomic development. The Ashanti Green Initiative, led by Oheneba Kwaku Duah, Prince of Ghana’s Ashanti Kingdom, is spearheading the inaugural Mining in Motion Summit in partnership with the World Bank and the World Gold Council. Scheduled for June 2-4, 2025 in Accra, the summit brings together stakeholders from Ghana’s ASGM sector, major mining players and global investors to discuss best…
Ministry of Tolerance and Coexistence Announces the Third Edition of the “World Governments as Incubators for Tolerance” Conference at AIM Congress 2025
In its ongoing commitment to fostering global values of tolerance and coexistence, the Ministry of Tolerance and Coexistence is set to organize the third edition of the “World Governments as Incubators for Tolerance” conference,the Ministry disclosed in an official statement, in Abu Dhabi,Wednesday. Under the theme “A Balanced Approach to Prosperity,” this significant event will convene during the second day of the AIM Congress 2025, scheduled from April 7 to 9 at the Abu Dhabi National Exhibition Centre (ADNEC). The conference aims to bring together a distinguished assembly of officials,…
Boosting Ghana’s Industrial Development: A Strategic Approach-(By:Charles Dzradosi)
Former Secretary,Avetime-Vane Citizens Association First Edition published in the Evening News of July 4th 2001 Introduction After a sharp contraction of 1.7% in 2023, Ghana’s industrial sector rebounded with a strong 7.1% growth in 2024, driven by mining, manufacturing, construction, and electricity. The 2025 Budget has projected a modest 4.8% growth in 2025. The 2024 performance, compared with the projected growth for 2025 has been the subject of some debate among analysts, but no clear reasons have been offered to explain the low projections. Even though there are various theories…
Afreximbank breaks ground on historic state-of-the-art Afreximbank African Trade Centre (AATC) in Barbados, first outside Africa
BRIDGETOWN, Barbados, March 25, 2025/ — African Export-Import Bank (Afreximbank) (www.Afreximbank.com/), Africa’s leading Multilateral Financial Institution, made history today when it broke ground on its first-ever state-of-the-art Afreximbank African Trade Centre (AATC) in the Caribbean, marking a pivotal moment for trade relations between Africa and the CARICOM region. The US$180 million Barbados AATC, the first to be established outside Africa, is an authentic icon of trade embodying the ambition, resilience, and influence of leading commercial cities in Africa and the Caribbean that serve as dynamic focal points for commerce, fostering…
Africa Finance Corporation (AFC) Sweeps IJGlobal and Global Capital Awards with Hat Trick of Major Wins
Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has been honoured with three prestigious accolades, further underscoring its impact in shaping Africa’s financial landscape. At the IJGlobal Awards 2024 held recently in London, AFC was named Guarantor of the Year, Africa, and also received the Market Innovation Award, Africa. The following evening, AFC was recognised with the African Deal of the Year at the Global Capital Syndicated Loan Awards in London. The trio of awards showcase AFC’s pioneering role in infrastructure financing, risk mitigation, and innovative financial solutions that drive sustainable…
Global Attention Towards Africa Sours
By: Mohammed A. Abu The 6th of March this year witnessed the Canadian Government’s launch of Canada-Africa Strategy-A Partnership for Shared Prosperity and Security. “With this strategy, Canada is leveraging its long-standing partnerships with African countries to unlock unprecedented opportunities for prosperity and stability from which Canadians and the African people can mutually benefit for years to come,” said the Hon. Mélanie Joly, Minister of Foreign Affairs This comes on the back of the African Union and Japan’s expression of commitment to co-creating a Sustainable Future for Africa at a…
ARISE IIP secures $450 million Afreximbank facility for industrial parks, Special Economic Zones development
In a significant move aimed at boosting industrial development across Africa, African Export-Import Bank (Afreximbank) (www.Afreximbank.com) signed a US$450 million global credit facility with ARISE IIP, the leading pan-African developer and operator of world-class industrial parks. This financing will support the development of industrial parks and Special Economic Zones (SEZ), while also providing crucial trade finance support to businesses operating within the ARISE IIP ecosystem. The US$ 450 million, granted in the context of Afreximbank’s strategic objective of promoting, facilitating, and supporting Africa’s industrialisation ecosystems, is part of a proposed…
Resetting Ghana’s Economy to break the Loans and Aid Dependency Jinx
By: Mohammed Abu Ghana’s President John Dramani Mahama in Accra,Thursday,emphasized the importance of backing up good policies with proactiveness on the part of the part of all national stakeholders in other to realise the much desired change in the economic situation of the country. “This is a defining moment, but policies alone, no matter how well-couched, will not change our reality—action will” adding, “As your president, I am taking the necessary actions to create growth opportunities and enhance our economic independence” President Mahama was delivering his speech to mark the…
Ghana’s National Economic Dialogue ends in Accra with Key Policy Recommendations
Story: Mohammed Abu Ghana’s two-day National Economic Dialogue has ended in the country’s capital City of Accra with recommendations bordering on a number of key issues Monetary Policy In other to strengthen monetary policy operations and effectiveness, it was recommended that coordination between the Ministry of Finance and Bank of Ghana be enhanced so as to ensure fiscal and monetary policy alignment. Then also, the Bank of Ghana should work with key stakeholders to integrate Fintech/liquidity transactions into overall banking sector liquidity system. Foreign Exchange Markets In other to improve…