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Islamic International Trade Finance Corporation (ITFC) and the Republic of Tunisia Sign Three Trade Financing Agreements

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Trade Finance

USD 280 Million Trade Finance Agreements for the benefit of the Tunisian Electricity and Gas Company, the Tunisian Company for Refining Industries, and the Tunisian Chemical Complex

TUNIS, Tunisia, March 5, 2023/APO Group/ — 

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), a member of the Islamic Development Bank (IsDB) Group, has signed three trade financing agreements totaling US$ 280 million in favor of the Republic of Tunisia to support energy security and revitalize the industrial sector, in addition to the agreement to support trade and exchange experiences between Tunisia and African countries, in cooperation with the technological pole of the pharmaceutical sector in Tunisia. The agreements were signed during an official visit by Eng. Hani Salem Sonbol, witnessed by Mr. Samir Saied, Minister of Economy and Planning; in the presence of Ms. Neïla Nouira Gongi, the Minister of Industry, Mines and Energy, and the CEOs of the Tunisian Electricity and Gas Company, the Tunisian Company for Refining Industries (STIR) and the Tunisian Chemical Complex (Groupe Chimique Tunisien).

The first financing agreement amounts to 120 million Euros, or about 400 million Tunisian dinars, which will be allocated to contribute to financing the import of natural gas for the benefit of the Tunisian Electricity and Gas Company. As for the second agreement, it is estimated at US$100 million, or about 314 million dinars, which will be allocated to contribute to financing the import of crude oil and petroleum products for the benefit of the Tunisian Company for Refining Industries.

The third financing agreement, which amounts to US$50 million, or about 157 million dinars, will be allocated to finance the import of raw materials for the benefit of the Groupe Chimique Tunisien.

In the same context, an MoU was signed between the Technological Pole Sidi Thabet and ITFC regarding cooperation in implementing training programs and capacity building in the field of biotechnology applied in health and pharmaceutical industries included in the framework of the “Arab-Africa Trade Bridges (AATB) Program”.

ITFC remains committed to building on its successes to be a greater catalyst for trade development among OIC member countries

In this occasion, Mr. Samir Saied noted the level of cooperation between Tunisia and ITFC, which is a strategic partner for Tunisia at the financial and technical levels, given the financing it provides to support the activities of a number of national institutions active in strategic sectors such as the energy, chemical industries and refining sectors. Mr. Saied also stressed on the mutual trust that characterizes the relationship between the two sides, and on the joint keenness to further enhance and diversify cooperation, especially in these difficult circumstances at the local and international levels.

From his end, Eng. Hani Salem Sonbol renewed ITFC’s commitment to supporting member countries, especially Tunisia, highlighting the corporation’s readiness to continue providing the necessary support to Tunisia to secure its needs of raw and strategic materials and by adopting innovative approaches to promote trade within the framework of achieving regional integration.

Ms. Neïla Nouira Gongi, Minister of Industry, Mines and Energy, stressed the importance of the signed trade finance agreements, given their orientation to support important strategic sectors and activities, noting the strength of relations between Tunisia and ITFC and the keenness on both sides to further consolidate and develop them.

Commenting on the signing of the three financing agreements, the CEO of ITFC, Eng. Hani Salem Sonbol, said: “ITFC remains committed to building on its successes to be a greater catalyst for trade development among OIC member countries.  The support provided to Tunisia is part of this commitment to strengthen local and regional economies through the advancement of trade. The three signed financing agreements are aligned with ITFC’s strategy to provide trade solutions, with trade financing that are also accompanied by technical assistance and trade development support.  Through the signed agreements and the ongoing AATB program activations, we look forward to strengthening our partnership with the Republic of Tunisia.”

It is worth mentioning that, since its inception in 2008, ITFC has provided total financing of US$ 2 billion to cover the strategic energy sector in addition to other strategic commodities. ITFC also sought to support the development of relations between Tunisia and Africa and other Arab countries by accelerating trade exchanges and financing the commercial infrastructure specified within the framework of the Arab-Africa Trade Bridges Program.

Tunisia has also been able to develop the exchange of experiences within reverse linkage programs with other African member countries of the OIC such as Djibouti.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

Business

Afreximbank Backs DOTT Services Limited, Uganda with a US$28 Million Facility for Regional Engineering, Procurement and Construction (EPC) Projects

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The financing will enhance DOTT’s capacity to execute strategic projects across the continent, facilitate intra-African trade in goods and services and strengthen regional value chains

CAIRO, Egypt, November 4, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has activated and approved a US$28 million dual-tranche facility for DOTT Services Limited, the leading Uganda-based engineering, procurement and construction (EPC) contractor, and has begun disbursing funds to support the execution of its EPC projects pipeline, valued at more than US$550 million.

 




 
 

Provided under Afreximbank’s EPC Contract Promotion Initiative, the facility is designed to strengthen the capacity of African EPC champions to secure and execute large-scale infrastructure projects across the continent. Specifically, the financing will support DOTT Services Limited in executing contracts and pursuing near-term opportunities valued at approximately US$550 million across Uganda, Tanzania, Kenya and the Democratic Republic of Congo.

Commenting on the transaction, Mr. Humphrey Nwugo, Director of Regional Operations at Afreximbank’s Eastern Africa office, said:

Through the initiative, the Bank provides support, including financing, twinning and matchmaking

“This facility reflects Afreximbank’s commitment to building strong African EPC champions capable of delivering the infrastructure that underpins Africa’s industrialisation, trade and economic integration. By supporting DOTT Services Ltd, a well-established regional contractor with operations across five African countries, we are addressing a critical financing gap that has historically constrained the ability of African firms to participate meaningfully in large-scale, cross-border infrastructure projects.

The financing will enhance DOTT’s capacity to execute strategic projects across the continent, facilitate intra-African trade in goods and services and strengthen regional value chains. It also advances Afreximbank’s EPC Contract Promotion Initiative, which seeks to increase African participation in the development and delivery of Africa’s infrastructure.

Through partnerships such as this, we are ensuring that greater value, expertise, employment opportunities and economic benefits are retained within Africa while fostering the emergence of globally competitive African contractors.”

Mr. Nwugo further noted that most local commercial banks lacked the capacity to support intra-African and regional projects because they were poorly placed to absorb the associated cross-border risks, while international banks tended to prioritise non-African contractors. As a result, African entities were often left without adequate financial support.

He said: “Afreximbank’s EPC Initiative was therefore designed to address this challenge by supporting African EPC contractors in securing and executing a greater share of infrastructure contracts across the continent. Through the initiative, the Bank provides support, including financing, twinning and matchmaking, as well as issuing letters of support, among others”, he explained.

DOTT Services Limited presence in Africa spans 28-years, with operations in Uganda, Tanzania, South Sudan, Zambia, and the Democratic Republic of Congo (DR Congo). It also has European offices in Italy and the UK, and a workforce of over 6,000 people. The company procures from, and distributes to, African countries goods such as bitumen, asphalt, steel and spare parts, as well as yellow goods equipment and services, making it a significant player in intra-African trade. Its track record of promoting trade-supporting infrastructure across the continent makes it a natural partner for Afreximbank’s EPC Contract Promotion Initiative, which seeks to build African EPC champions capable of delivering the infrastructure that underpins intra-African trade.

Distributed by APO Group on behalf of Afreximbank.

 

 




 

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Coca-Cola Beverages Africa (CCBA) invests in Africa’s leadership potential through EDGE

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Coca-Cola

Developed in partnership with Henley Business School Africa, the programme equips high-potential leaders with the skills, experiences and perspectives needed to drive growth, create value and deliver impact across the business

JOHANNESBURG, South Africa, November 4, 2026/APO Group/ –Thirty-one leaders from across 12 African countries have graduated from Coca-Cola Beverages Africa’s (CCBA) (https://www.CCBAgroup.com) EDGE Senior Leadership Acceleration Programme, marking the completion of the programme’s second generation and the first pan-African EDGE cohort.

 




 
 

Created by CCBA, EDGE is the company’s flagship senior leadership development programme. Building on previous participation from The Coca-Cola Company, the programme was further expanded in 2026 to include leaders from Equatorial Coca-Cola Bottling Company and Coca-Cola Hellenic Bottling Company, creating a broader pan-African learning experience across the Coca-Cola system.

Developed in partnership with Henley Business School Africa, the programme equips high-potential leaders with the skills, experiences and perspectives needed to drive growth, create value and deliver impact across the business.

The 2026 cohort marks an important milestone for EDGE as the programme brought together leaders from across the Coca-Cola system

The graduating cohort represented leaders from multiple countries and business functions. Through classroom learning, business projects, mentoring and coaching, participants gained practical experience in addressing real business opportunities and challenges.

With CCBA serving more than 840,000 customers across Africa, the company requires leaders who can navigate complexity and create value in diverse markets. EDGE helps build these capabilities through practical, business-focused learning.

“People are at the heart of everything we do, and programmes like EDGE demonstrate our commitment to investing in their growth and future success,” said Natasa Prodanovic, Chief People and Culture Officer at CCBA.

“The 2026 cohort marks an important milestone for EDGE as the programme brought together leaders from across the Coca-Cola system. By learning alongside colleagues from The Coca-Cola Company, Equatorial Coca-Cola Bottling Company and Coca-Cola Hellenic Bottling Company, participants were able to build meaningful connections, share diverse perspectives and strengthen collaboration across our markets.”

The curriculum focused on strategy, value creation, transformation, commercial decision-making, leading self and leading teams. Participants also presented business projects aligned to organisational priorities as part of the programme’s graduation requirements.

EDGE forms part of CCBA’s broader commitment to developing future leaders and building the capabilities needed to drive sustainable growth and impact across Africa.

Distributed by APO Group on behalf of Coca-Cola Beverages Africa.

 

 




 

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Africa and Caribbean trade potential could reach $1.65 billion annually by 2030: International Trade Centre (ITC)-Afreximbank report

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Afreximbank

The report finds that around 80% of Africa’s annual goods export potential to the Caribbean remains untapped

ST. JOHN’S, Antigua and Barbuda, November 3, 2026/APO Group/ –Annual trade in goods and services between Africa and the Caribbean could reach up to $1.65 billion by 2030, excluding mineral fuels, according to a new report launched today by the International Trade Centre (ITC) and African Export-Import Bank (Afreximbank) (www.Afreximbank.com) on the sidelines of the Commonwealth Heads of Government Meeting in Antigua and Barbuda.

 




  

The report, Reshaping Africa-Caribbean Trade: Opportunities for Economic Transformation, (https://apo-opa.co/4eiz62u) finds that while Africa and the Caribbean share deep historical and cultural links, trade between the two regions continues to represent only a small share of each region’s overall trade, despite complementarities across sectors ranging from agribusiness and manufacturing to services and the creative economy.

A look at the numbers

The report finds that around 80% of Africa’s annual goods export potential to the Caribbean remains untapped, with are significant opportunities for export growth if trade and investment is actively promoted and facilitated.

Africa and the Caribbean must transform a shared history into shared prosperity

Caribbean export potential lies in the services sector, reaching $481 million. The report identifies business opportunities across several priority sectors, including processed food and animal feed, chemicals, minerals and metals, apparel and textiles, leather and footwear, tourism, transport services and creative industries.

These findings – and more – are based on trade and export potential analysis, detailed sector assessments and a survey of 1,175 businesses and business support organizations across Africa and the Caribbean.

Tapping into priority sectors

ITC Executive Director Pamela Coke-Hamilton (https://apo-opa.co/3WHHZMU), in launching the report, said: ‘At a time of major shifts in global trade, countries need to strengthen regional ties and invest in value addition, to build resilience. We know the major trade opportunities between Africa and the Caribbean – and now we can focus on helping businesses take advantage of those opportunities through better market intelligence, improved logistics and greater access to finance.’

Commenting on the report, Denys Denya, Senior Executive Vice President at Afreximbank, said: ‘Africa and the Caribbean must transform a shared history into shared prosperity. With our CARICOM office in Barbados, about $1 billion in approved transactions and a $5 billion regional financing commitment, Afreximbank is advancing this vision through financing, deposit mobilization under CENDEP, business links through the annual Afri-Caribbean Trade and Investment Forum, local-currency payments through CAPSS and creative-industry collaboration through CANEX. This report offers a practical roadmap to turn untapped potential into bankable opportunities across agribusiness, manufacturing, tourism and the creative economy. Through targeted financing, stronger transport and logistics links and strategic partnerships, we can build a Global Africa connected by heritage, trade, investment and shared opportunity.’

The report finds that businesses continue to face significant challenges, including high transport costs, limited direct shipping links, regulatory barriers, limited access to finance and difficulties in identifying trusted commercial partners. It highlights that future economic cooperation should extend beyond traditional trade in goods, including through joint investment ventures, digital services, creative industries and tourism. It also calls for targeted action to improve market intelligence and business matchmaking; expand access to trade finance and payment solutions; strengthen transport and logistics connectivity; support sector-specific value chain development; improve regulatory cooperation and market access; and foster stronger partnerships among business support organizations.

Read the full report HERE (https://apo-opa.co/4exHBH9)

Distributed by APO Group on behalf of Afreximbank.

 




 

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