Author-Executive Secretary, African Refiners & Distributors Association (ARDA) (https://ARDA.Africa/). External expectations have framed Africa’s role in the energy transition for years. Despite facing different realities, such as limited infrastructure, restricted access to capital, and less influence in global energy policy, it has been assumed that Africa will follow the same decarbonisation path as developed economies. This way of thinking is misaligned with today’s realities. Africa’s priorities—improving access, promoting industrial growth, and building resilience—must be reflected in its energy strategy. The continent is actively involved in the global shift. It is,…
Category: Finance
Africa’s Business Heroes Announces Top 20 Entrepreneurs Advancing to the Semi-Finals in Dakar
DAKAR, Senegal, September 1, 2025/ — The Africa’s Business Heroes (ABH) (https://AfricaBusinessHeroes.org/) Prize Competition, a philanthropic initiative of Alibaba Philanthropy, today revealed the Top 20 entrepreneurs selected to advance to the 2025 Semi-Finals, taking place in Dakar, Senegal on 10 – 11 September 2025. The selection of the Top 20 reflects a rigorous and highly competitive process. Starting from nearly 32,000 applications spanning the African continent, candidates advanced through multiple rounds, including the Top 50 Round 2 interviews and a thorough due diligence process. From this pool, 20 exceptional entrepreneurs…
New Report by Africa Union High Level Panel on Illicit Financial Flows Secretariat Says Africa Lags Behind in the Fight Against IFFs
The Secretariat of the African Union High Level Panel on Illicit Financial Flows released a new report, Successes and Challenges of Implementing the Recommendations of the African Union High Level Panel on Illicit Financial Flows, which indicates that most African countries fall short of meeting the institutional, policy and law enforcement requirements to effectively contain IFFs says an official statement issued in Addis Ababa,Friday. The report, launched on Wednesday, August 27, 2025, shows that the continent lacks an effective coordination mechanism for a coherent and coordinated action against the scourge of…
The Islamic Corporation for the Development of the Private Sector (ICD) leads successful closure of USD 145 Million Shariah-Compliant Syndicated Facility for Turk Eximbank
The Islamic Corporation for the Development of the Private Sector (“ICD”) (https://ICD-ps.org), a multilateral development financial institution and the private sector arm of the Islamic Development Bank (IsDB) Group, is pleased to announce the successful closure of USD 145 million Shariah compliant syndicated financing facility for Türkiye İhracat Kredi Bankası A.Ş. or Export Credit Bank of Türkiye A.S. (“Turk Eximbank”). according to an official statement issued in Jeddah,Saudi Arabia,Friday. The facility has been structured as a Commodity Murabaha with a tenor of 3 years. This partnership between the two institutions…
2025 Country Focus Report: Burkina Faso urged to make better use of national resources to finance its development
ABIDJAN, Ivory Coast, July 31, 2025/ — The African Development Bank’s 2025 Country Focus Report for Burkina Faso (www.AfDB.org), the national version of the African Economic Outlook, was officially launched on 18 July 2025 in Ouagadougou. The ceremony was chaired by Souleymane Nabolé, Technical Advisor, representing the Minister of Economy and Finance, in the presence of Daniel Ndoye, the Bank Group’s Country Manager for Burkina Faso. Run virtually, the session brought together more than 80 participants from the public administration, technical and financial partners, the research community and the private…
Climate change is making Africa’s debt burden worse – new debt contracts could help
The Conversation First Published,July 30,2025 Author: Magalie Masamba(Extraordinary lecturer at the Centre for Human Rights, University of Pretoria) Many African countries are already struggling with heavy debt burdens. Climate change is making this worse. Africa contributes the least to global emissions but suffers the most from extreme weather, rising temperatures and drought. These disasters affect not just people’s livelihoods but also national revenues, making debt repayment harder. Yet traditional debt contracts don’t account for this. The link between these pressure points is becoming undeniable. As climate-related disasters worsen, debt-laden countries are left…
“The Northern Ghana is a gem of untapped potential”-Charles Abugre
Dr.Charles Abugre,an International Development Economist,is also,a former CEO of the Savannah Accelerated Development Authority(SADA) and Cotton Development Authority,Ghana. “The Northern Ghana is a gem of untapped potential” Address at the Northern Ghana Development Conference The Northern Ghana Caucus in Parliament Tamale Charles Abugre 21/07/2025 Salutations Naa Chairman, Naa Yab Nanton-Naa I am most honored and humbled by the opportunity given to me by the Majority Leader and members of the Caucus to be on this podium. Please accept my congratulations for this historic initiative. It was long in coming but…
Sierra Leone and African Development Bank Target $90 Billion in Annual Illicit Financial Flows
FREETOWN, Sierra Leone, July 25, 2025/ — A four-day high-level seminar concluded last week with concrete recommendations to combat the estimated $90 billion that Africa loses annually to illicit financial flows, as the African Development Bank Group (www.AfDB.org) and Sierra Leone Government intensify efforts to strengthen natural resource governance. More than 70 stakeholders from government, civil society, private sector, and international organizations gathered at The Place Resort in Tokeh under the theme “Harnessing Africa’s Wealth: Curbing Illicit Financial Flows for Resilient Growth and Development.” Illicit financial flows are among Africa’s…
CIBAFI Releases GIBS 2025 Report, Showcasing Emerging AI and Data Trends in the Islamic Finance Sector
The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions,has successfully held a webinar titled “AI and Data Survey (GIBS) 2025 Report,an official statement issued in Manama,Bahrain,Wednesday, has disclosed. This edition of the GIBS Report explores the expanding role of artificial intelligence (AI) and data analytics in transforming Islamic banking operations, service delivery, and risk management. It captures insights from 105 executives across 29 countries, providing valuable regional perspectives and industry benchmarks. The webinar opened with remarks from Dr. Abdelilah Belatik, Secretary General of…
Tackling Africa’s Illicit Financial Flows to Manage Resource-backed Loans Inbox
African Development Bank Embarks on Strengthening Capacity The African Development Bank Group (www.AfDB.org) has successfully concluded a high-level workshop and policy dialogue aimed at enhancing the Central Africa Republic’s capacity to combat illicit financial flows (IFFs) and improve the governance of resource-backed loans,says an official statement issued in Abidjan,Monday. Held in Bangui from 10-13 June 2025 under the theme “Harnessing Africa’s Wealth: Curbing Illicit Financial Flows for Resilient Growth and Development,” the four-day event brought together 80 officials from key government ministries, including Finance, Economy, Planning, Environment, Mines and Geology –…