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AATB Meeting Concludes with Way Forward to Drive Trade and Investment Flows

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The landmark event included a round table discussion on the role of the AATB Program in the implementation of the AfCFTA across both regions

CAIRO, Egypt, March 22, 2022 — The 3rd Annual Board of Governors (BoG) Meeting of the Arab-Africa Trade Bridges (AATB) Program recently held in Cairo, Egypt, chaired by Dr. Hala ElSaid, Minister of Planning and Economic Development, convened all partners, strategic stakeholders, and public and private sector players in the Program to reinforce the role of regional value chains across Arab and Africa states in support of the AfCFTA. The landmark event included a round table discussion on the role of the AATB Program in the implementation of the AfCFTA across both regions.

Notably, a memorandum of understanding was signed by the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Afreximbank. This agreement lays out a dedicated program that will focus on risk sharing, credit enhancement for export and import financing, supporting the bank’s digitalization transformation, capacity building and marketing.

During the opening ceremony, H.E. Dr. Hala El Said, Minister of Planning and Economic Development of the Arab Republic of Egypt and Chairperson of the AATB Board of Governors also mentioned: ” The AATB meeting provided an opportunity to consult and exchange ideas, visions, and successful experiences to enhance our efforts to develop trade and investment flows between African and Arab countries. The Arab Republic of Egypt takes pride in the continuous and fruitful cooperation with the International Islamic Trade Finance Corporation (ITFC) and other strategic partners through the AATB Program.”

“A vital role of the AATB Program is promoting regional and continental trade and investment cooperation between Egypt, Arab countries, and African countries.  The Program promotes critical areas such as capacity building programs to support women in trade, supporting SMEs, and exporters, while addressing the negative effects of the corona virus on Arab and African economies through vital interventions in health and food security.”-said H.E. Mrs. Nevin Gamea, Minister of Trade and Industry of the Arab Republic of Egypt.

In his speech, H.E. Dr. Majid Bin Abdullah AlKassabi, Minister of Commerce, Kingdom of Saudi Arabia stated that “Africa consists of 54 Countries, and it is a continent rich in human and natural resources. The AATB Program is a wonderful opportunity for trade development for both African and Arab regions as well for connecting and facilitating trade exchange between African countries. Therefore, we need to employ all resources to drive trade reinforcement and promote trade resilience, and this is what the AATB Program will have a significant impact on.”

Mr Alamine Ousmane Mey, Minister for Economy, Planning and Territory Development, Cameroon, added, “Covid-19 and recent geopolitical developments have shown that we need to strengthen our ties and trade amongst OIC member countries. In Cameroon, we are committed to pursuing sustainable and inclusive development through our national development strategy and the AfCFTA. We are also looking to build high structural transformation and nurture human capital as well as promote a greater interaction with the world economy.”

In his opening remarks, Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank said “With the world in a state of continuing crises, partnerships like the Arab-African Trade Bridges Program will strengthen the African and the Arab world to address the trade and economic consequences of these crises, working to mitigate any long-lasting impact.”

H.E Dr. Sidi Ould Tah, Director General, Arab Bank for Economic Development in Africa (BADEA), Ex-Chairman of the Executive Committee (2017-2021) said “AATB is a program of cooperation between Arab and African Countries. BADEA, as one of the founding partners of AATB supports and funds infrastructure projects in Africa that facilitate trade and promote development. Through these efforts, we will continue to assist and support AATB objectives to enhance trade and investment opportunities within between the two regions.”

Eng. Hani Salem Sonbol, CEO of ITFC stated: “The AATB program has been instrumental in mitigating the negative effects of the COVID-19 pandemic on the health and food security sectors. Research conducted by ITFC indicates that the AfCFTA will contribute to the creation of regional value chains and will provide an opportunity for governments to participate in enhancing skills and investing in productive capacities which will accelerate the regions return to more inclusive growth. ITFC together with its partners will continue to play its role towards the development of Arab-Africa trade as well as fostering stronger integration between African countries through trade facilitation.”

The roundtable session was graced by high-level speakers including AATB partners, stakeholders and Ministers of OIC member countries who spoke on the theme; “Regional Value Chains and their Importance in increasing Trade and Investment Flows between Arab and African countries”.   Key outcomes of this session highlighted upcoming focus areas in light of renewed direction following the COVID-19 pandemic and major successes achieved thus far, as well as demonstrating a commitment to strengthening cooperation while promoting the importance of inter-regional partnerships and the power of alliances in light of the AfCFTA.

Commenting on the signing of a memorandum of understating, Mr. Oussama Kaissi, CEO, Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) ICE-IK stated: We look forward to effect this wide-ranging MoU with Afreximbank to facilitate and promote African trade. We are confident that the MoU will further consolidate our existing good relations with the Bank as we pursue our mutual objective of boosting intra Arab African trade in OIC member countries. In support of boosting intra trade between the two regions, ICIEC will leverage our tried and tested suite of de-risking and credit enhancement solutions.”

“ICD is keen to support the AATB Program by promoting and increasing the investment flows between African and Arab member countries. ICD will lead the Investment Pillar of the AATB Program, which aims to mobilize and allocate resources to impactful investments in Arab and African countries” said Mr. Ayman Sejiny, CEO, Islamic Corporation for the Development of the Private Sector (ICD).

Commenting on the potential of Arab-Africa value chain, Mr. Wamkele Mene, Secretary General, African Continental Free Trade Area (AfCFTA) said:” The African Continentcontributes less than 3% to Global Trade and output and less than 2% to global GDP, which is largely because of the deficit in industrial capacity.  This regional partnership presents an opportunity for all of us to identify critical value chains for productive sector investment to create jobs on the African continent.

On the sidelines of the 3rd Annual Board Meeting, a visit to Egypt’s Medicine City was organized to showcase Egypt’s capabilities in the medicine supply chain production. Africa’s healthcare industry is of great importance to the AATB Program, and this is reflected under AATB’s, “Harmonization of Pharmaceutical Standards” which aims to boost the manufacture of high-quality homegrown pharmaceutical products and services.

Since its launch in 2017, the Arab Africa Trade Bridges program has become the foremost platform in driving trade between Africa and the Arab regions with important initiatives that strengthen growth and prosperity in beneficiary countries.


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

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Ghana National Petroleum Corporation (GNPC) Exploration and Production Limited (Explorco) Managing Director (MD) Joins Ghana Investor Briefing to Discuss Exploration Opportunities

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Kinetiko Energy

Michael Aryeetey will engage investors on the exploration opportunities emerging in Ghana’s oil and gas industry during the Invest in African Energies briefing this April

ACCRA, Ghana, April 2, 2025/APO Group/ –Michael Aryeetey, Managing Director of the Ghana National Petroleum Corporation’s (GNPC) upstream-focused subsidiary GNPC Exploration and Production Limited (Explorco), has joined the Invest in African Energies: Accra Investor Briefing on April 14, 2025. Aryeetey will take part in a discussion on Advancing Exploration Opportunities in Ghana, sharing insight into Explorco’s project portfolio and expansion strategy.

With 17 oil and gas projects in the pipeline until 2027, Ghana is pursuing enhanced exploration and production to stabilize the market and unlock greater returns. For its part, the GNPC – through Explorco – has been at the helm of this growth, intensifying its exploration efforts to unlock new hydrocarbon reserves and sustain Ghana’s long-term energy security. In 2025, the company is seeking play-opening discoveries in the onshore Voltaian basin, with an exploration well planned this year. The onshore basin covers an area of 100,000 km² and could be a game-changer for the country. The GNPC has invested $160 million in seismic data acquisition across the basin, aimed at identifying geological structures and supporting future exploration targets.

Ghana offers significant growth opportunities for exploration and production firms, and Explorco is leading the way towards unlocking the country’s petroleum basins

Explorco was established to strengthen GNPC’s interests in exploration and production activities across Ghana. In alignment with the GNPC’s broader industry goals, the company implemented short-term objectives in February 2025 to enhance oil production and attract investment through collaboration, innovation and operational efficiency. Progress has already been seen to achieve these goals, with international oil company partnerships and GNPC-led upstream projects underway. In 2024, the country reported a 10.7% increase in oil production, with operations in the Jubilee South East project – led by Tullow Oil – contributing to a rise in output.

Energy major Eni and the GNPC also committed to strengthening cooperation in March 2025 under efforts to boost exploration and production in Ghana. The companies aim to pursue joint goals, including establishing joint ventures, integrating advanced technologies and investing in local capacity. Eni currently operates the Offshore Cape Three Points integrated project alongside Vitol and GNPC.

Meanwhile, working alongside international partners, the GNPC targets several offshore drilling programs in 2025. Tullow Oil is set to drill one producer and one injector well at the Jubilee field in May 2025. A 4D seismic survey is already underway at Jubilee and its adjacent field TEN, aimed at optimizing the 2025-2026 drilling program being implemented by Tullow Oil.

“Ghana offers significant growth opportunities for exploration and production firms, and Explorco is leading the way towards unlocking the country’s petroleum basins. Through strategic partnerships, cutting-edge technology and a commitment to local content development, the GNPC is shaping Ghana’s future as a competitive oil and gas producer,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber.

Taking place at the Kempinsky Hotel in Accra, the Ghana investor briefing serves as a prelude to the African Energy Week (AEW): Invest in African Energies conference this September in Cape Town. The event offers a platform for investors and project developers to explore opportunities in Ghana’s upstream market. By facilitating direct engagement between Explorco and potential investors, the event aims to unlock new partnerships that will drive exploration and production activities. Investors will gain firsthand insight into Ghana’s evolving regulatory framework, licensing rounds and infrastructure development, enabling them to make informed investment decisions.

Distributed by APO Group on behalf of African Energy Chamber

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Siemens Enters into Historic Pharmaceutical Manufacturing Deal with Miko Pharma in Ghana

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pharmaceutical industry

The pharmaceutical industry is a growing contributor to the Ghanaian economy, accounting for 0.8% of GDP and 21.8% of total healthcare expenditure in 2023

HANNOVER, Germany, April 2, 2025/APO Group/ —

  • Siemens partners with Miko Pharma to develop cutting-edge pharmaceutical manufacturing facilities in Ghana. 
  • The agreement aims to create 130 jobs and produce affordable, high-quality medications for various ailments. 
  • Ghana’s pharmaceutical sector is set for significant expansion, with sales forecasted to reach GH₵10.7 billion by 2028. 

Siemens (www.Siemens.com), the trusted global technology leader, has signed a landmark agreement with Miko Pharma to develop state-of-the-art facilities for the local production of life-saving generic pharmaceuticals in Ghana. This deal, one of the largest in Ghanaian pharmaceutical history, was finalized at the prestigious Hannover Messe trade show in Germany.

Siemens will be responsible for developing industrial applications, buildings, infrastructure, and utilities for Miko Pharma’s operations in Eastern Ghana, adhering to stringent World Health Organization standards.

“Our goal is to enable the manufacture of safe pharmaceutical drugs in Africa. This partnership with Miko Pharma represents a significant step towards achieving that goal. By leveraging our cutting-edge technology and unparalleled expertise, we aim to create a sustainable and self-sufficient pharmaceutical industry in Ghana. We are honoured to support our partners in this transformative journey,” says Sabine Dall’Omo, CEO, Siemens Sub-Saharan Africa.

Our goal is to enable the manufacture of safe pharmaceutical drugs in Africa

“Miko Pharma plans to create 130 jobs in the manufacturing of affordable and effective superior quality medications for the treatment of various ailments, including high blood pressure, diabetes, heart disease, HIV, malaria, and pain, in Ghana,” according to Dr Michael Obeng, CEO and founder of Miko Pharma, a Harvard-trained plastic and reconstructive surgeon and a fellow of the American College of Surgeons. “This initiative will significantly enhance healthcare accessibility in the region.”

“Being in Germany to sign this historic agreement with Siemens was a moment of immense pride for our team at Miko Pharma. This partnership is not just about building facilities—it’s about transforming healthcare in Ghana and setting a new standard for pharmaceutical production in Africa. With Siemens’ expertise, we are confident that these state-of-the-art facilities will deliver affordable, high-quality medications to those who need them most, while also creating meaningful employment opportunities. This is a pivotal step toward our vision of a self-reliant and thriving pharmaceutical sector in Ghana,” says Mr Willard Jackson, Executive Director for Miko Pharma.

This historic agreement between Siemens and Miko Pharma marks a significant milestone in Ghana’s pharmaceutical industry, promising substantial economic growth and improved healthcare accessibility. By leveraging world-class technology and expertise, this partnership aims to empower local production and create a sustainable future for pharmaceutical manufacturing in Ghana.

Overview of the pharmaceutical industry in Ghana 

Currently, 30% of pharmaceutical demand in Ghana is met by locally produced products.

The Ghana Food and Drugs Authority recorded 36 pharmaceutical manufacturing facilities with active licenses and over 3500 pharmaceutical shops by 2023.

The pharmaceutical industry is a growing contributor to the Ghanaian economy, accounting for 0.8% of GDP and 21.8% of total healthcare expenditure in 2023. Research by Deloitte Ghana indicates that pharmaceutical sales in Ghana reached GHS6.6bn (US$571mn) in 2023 and are forecasted to grow to GH₵10.7 billion (US$735mn) by 2028, driven by increased consumption within the generic medicines sub-sector. Statista projects that the pharmaceutical market in Ghana will achieve a revenue of US$254.88m in 2025.

The Siemens-Miko Pharma deal has the potential to significantly boost the local pharmaceutical manufacturing industry, surpassing previous economic forecasts.

Distributed by APO Group on behalf of Siemens AG

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African Development Bank-Supported Projects in Senegal, Rwanda Clinch Top Honors at 2025 Bonds, Loans & ESG Capital Markets Africa Awards

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African Development Bank

The awards celebrate Africa’s most innovative and transformative financial deals, highlighting exemplary execution, effective mobilization of new liquidity pools, and innovative deal structuring

CAPE TOWN, South Africa, April 2, 2025/APO Group/ –Two African Development Bank Group (www.AfDB.org) -supported projects have garnered top honours at the 2025 Bonds, Loans & ESG Capital Markets Africa Awards (https://apo-opa.co/4li4foE) conference. A $545 million sustainable term loan facility in Senegal (https://apo-opa.co/4ldg7rV) was named Sovereign Syndicated Loan Deal of the Year, while Rwanda’s €200 million ESG loan (https://apo-opa.co/4lf3cpd) was awarded ESG Loan Deal of the Year. Both projects were supported by partial credit guarantees from the African Development Bank Group.

The awards celebrate Africa’s most innovative and transformative financial deals, highlighting exemplary execution, effective mobilization of new liquidity pools, and innovative deal structuring.

The awards shine a spotlight on these innovative transactions, marking a game-changing benchmark for leveraging sustainable financing to drive transformative and social progress

In its debut on the international sustainable finance market, announced in March 2024, Senegal raised $545 million in long-term financing – part of it in the CFA franc. The African Development Bank served as a financial advisor in addition to providing a partial credit guarantee. The pioneering transaction, which leveraged the Bank Group’s credit guarantee to secure favorable borrowing terms and attract diverse investor segments, was seen as underscoring Senegal’s commitment to financing critical sustainable development projects in climate resilience, renewable energy, and social infrastructure.

In April 2024, Rwanda secured a partial credit guarantee from the African Development Fund, the Bank’s concessional window, paving the way for long-term funding from international commercial banks. The financing is supporting Rwanda’s National Strategy for Transformation, which focuses on green urbanization, environmental sustainability, social inclusion, and health and education infrastructure. With the African Development Bank serving as the initial mandated lead arranger, this transaction diversifies Rwanda’s financing sources and underlines the growing attractiveness of African sustainable investment opportunities in global markets, while enhancing citizens’ quality of life.

Ahmed Attout, the Bank Group’s Director for Financial Sector Development, said: “These awards underscore the Bank’s steadfast commitment to fostering competitive and sustainable financing solutions. By tailoring partial credit guarantees to the specific needs of member countries, Senegal and Rwanda now have access to competitive international capital, enabling them to mobilize long term funding from international commercial banks for green and social initiatives for the first time.”

Max Magor N’diaye, Bank Group Senior Director for Syndication, Co-financing client solutions and the Africa Investment Forum stated: “The awards shine a spotlight on these innovative transactions, marking a game-changing benchmark for leveraging sustainable financing to drive transformative and social progress. They not only benefit communities but also pave the way for a resilient and prosperous future.

Bonds, Loans & ESG Capital Markets Africa, held annually at the Cape Town International Convention Center, is an important event for Africa’s capital markets, bringing together the public and private sectors, government officials, financial institutions, investors, and industry experts for dialogue.

Distributed by APO Group on behalf of African Development Bank Group (AfDB)

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