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Africa: Climate Finance Facing Global Macroeconomic Challenges; Time for Private Sector Support

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African Development Bank

For the African Development Bank, greater involvement of the private sector is crucial to closing the gap in climate finance flows into Africa

ABIDJAN, Ivory Coast, April 26, 2023/APO Group/ — 

Africa, the continent that pollutes the planet the least, is today one of the world’s most vulnerable to climate risks. While nations across the continent grapple with financing constraints, resources from the international private sector, including multilateral development financiers such as the African Development Bank (www.AfDB.org), are helping to catalyze climate action and green growth.

For the African Development Bank, greater involvement of the private sector is crucial to closing the gap in climate finance flows into Africa, which until recently, was dominated by non-private actors. For example, of the $29.5 billion invested in African climate finance in 2020, only 14% was from private actors. This is significantly lower than comparable regions such as Latin America and the Caribbean (49%), East Asia and the Pacific (39%) and South Asia (37%). Besides, these limited funds covered a small number of African countries with relatively developed financial markets, such as South Africa, Nigeria, Kenya, Morocco, and Egypt, which alone attracted $4.2 billion.

It is the reason the Bank Group has made mobilizing private sector financing for climate and green growth the centerpiece of its 2023 Annual Meetings scheduled for 22-26 May in Sharm El Sheikh, Egypt.

The meetings will discuss successful strategies to galvanize more resources, including within Africa, and investment opportunities in renewable energy and sustainable agriculture. The Bank’s Governors, representing its shareholders, will be joined by global experts and development financiers to discuss the matter of a new architecture for mobilizing resources for sustainable investment in Africa. This will include how to make African countries’ rich natural capital to finance climate and green growth. About a dozen heads of state and government are expected to attend.

The African Development Bank believes there is much potential for climate finance in Africa to increase

The African Development Bank believes there is much potential for climate finance in Africa to increase. The bank bases its view on a dataset of global private resources. Private equity funds under management reached a record $6.3 trillion in 2021, while global pension fund assets in the 22 largest markets hit a new high of $56.6 trillion by late 2022.

To combat climate change and support green growth, African countries need more climate investments to achieve their national targets for emissions reductions and adaptation to the impacts of climate change.

The African Development Bank, the continent’s premier multilateral development finance institution, has begun providing solutions. It is implementing mechanisms to facilitate and channel access to global climate finance, particularly from the private sector. It has also launched programs to mitigate risks and barriers to private sector participation in climate finance and green growth in Africa.

The Bank has committed to mobilize $25 billion by 2025, representing 41% of its total funding commitments.

One example of the Bank’s work is the Sustainable Energy Fund for Africa (https://apo-opa.info/3EfNjLE), whose objectives are aligned with its High Five strategic priorities, particularly “Light up and Power Africa” and “Improve the Quality of Life for the People of Africa.” This facility provides technical assistance and concessional finance instruments to remove market barriers.

In 2022, for example, Togo benefited by nearly $4 million, while in January 2023, SEFA provided a $1 million grant for green mobility in Africa to seven countries: Kenya, Morocco, Nigeria, Rwanda, Senegal, Sierra Leone and South Africa (https://apo-opa.info/3H9Mghr). Still, the African Development Bank believes it can go further.

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

Business

Liquid C2 and CyberCoach partner to bring a safer digital environment to African businesses

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Liquid C2 and its Cloudmania channel ecosystem will distribute CyberCoach training across Africa, reaching enterprises, SMEs, public-sector institutions, and partners across the African footprint

JOHANNESBURG, South Africa, March 11, 2026/APO Group/ –Liquid C2, a business of Cassava Technologies, a global technology leader of African heritage, announces its partnership with CyberCoach, the only privacy-first AI and cyber security training and compliance platform. Through this partnership, Liquid C2 is further strengthening its cyber security portfolio with an AI-powered security awareness and training platform designed to help organisations reduce human risk.

Our approach complements Liquid C2’s focus on delivering innovative, dependable, and sustainable technology solutions that help businesses thrive responsibly

“The African digital transformation market is expected to reach 15.62% CAGR over 2026-2031 (http://apo-opa.co/4s07kwh). This statistic highlights the exponential growth the continent will see in the next few years; however, it also means that without the necessary cyber security guardrails in place, cyberattacks will grow unchecked. With a strategic partner like CyberCoach, LiquidC2 can help organisations roll out training programmes on interactive chatbot integrated platforms like Microsoft Teams, Slack or even web browsers of choice,” said Vinay Hiralall, Chief Commercial Officer at Liquid C2.

CyberCoach actively promotes a safe digital society by training and supporting all employees. Rather than “one-size-fits-all” content, these trainings are tailored learning paths based on an employee’s job function. Liquid C2 and its Cloudmania channel ecosystem will distribute CyberCoach training across Africa, reaching enterprises, SMEs, public-sector institutions, and partners across the African footprint.

“We are proud to collaborate with Liquid C2, whose scale, values, and commitment to digital empowerment in Africa align strongly with our mission to build a safer digital society through evidence-based learning of critical security and AI skills. Our approach complements Liquid C2’s focus on delivering innovative, dependable, and sustainable technology solutions that help businesses thrive responsibly,” says Maria Bique, CEO of CyberCoach.

According to the 2025 Interpol Africa report, 95% of respondents (http://apo-opa.co/40kXuZU) indicated that they lacked access to adequate training, resource constraints and specialised tools. The partnership between Liquid C2 and CyberCoach caters to the increasing need of African businesses to invest in training employees, thereby reducing the ‘human element’ risk in cyber security.

Distributed by APO Group on behalf of Liquid Intelligent Technologies.

 

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The International Islamic Trade Finance Corporation (ITFC) and the Islamic Republic of Mauritania Sign US$ 1 Billion Framework Agreement to Strengthen Trade and Economic Development

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ITFC

Under the agreement, ITFC will mobilize financing and technical support for priority sectors of the Mauritanian economy, particularly energy, banking, and private sector development

JEDDAH, Saudi Arabia, March 10, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, signed a US$ 1.0 billion Five-Year Framework Agreement with the Islamic Republic of Mauritania covering the 2026–2030 period to strengthen cooperation and support the country’s economic development priorities through strategic trade finance and capacity-building initiatives.

 

The signing took place during the official visit of H.E. Dr. Abdallah O. Souleymane O. Cheikh-Sidia, Minister of Economic Affairs and Development and IsDB Governor, to the IsDB Group Headquarters in Jeddah. The agreement was signed at ITFC Headquarters by H.E. Dr. Abdallah O. Souleymane O. Cheikh-Sidia and Eng. Adeeb Yousuf Al Aama, Chief Executive Officer of ITFC, in the presence of H.E. Mohamed Lemine Dhehby, Governor of the Central Bank of Mauritania and IsDB Alternate Governor for Mauritania, as well as representatives from ITFC and members of the Mauritanian delegation.

The Framework Agreement reflects the strong partnership between ITFC and the Islamic Republic of Mauritania establishing a strategic framework to support the country’s socio-economic development and expand its trade capacity over the next five years.

Under the agreement, ITFC will mobilize financing and technical support for priority sectors of the Mauritanian economy, particularly energy, banking, and private sector development. The partnership will facilitate financing for the import of energy commodities, provide trade finance facilities and Confirmation Lines for Letters of Credit to local banks, and support small and medium-sized enterprises (SMEs). It will also include technical assistance programs to enhance agricultural productivity and promote trade facilitation in strategic sectors of the economy.

Speaking during the occasion, H.E. Dr. Abdallah O. Souleymane O. Cheikh-Sidia, Minister of Economic Affairs and Development of Mauritania, highlighted that the agreement will help mobilize critical financial resources to support national development priorities and foster sustainable economic growth.

Eng. Adeeb Al Aama, CEO of ITFC, noted that the agreement demonstrates ITFC’s continued commitment to supporting its member countries through trade-driven development and will help strengthen key sectors of Mauritania’s economy while expanding opportunities for trade and investment.

Since its inception in 2008, Mauritania has been a longstanding partner of ITFC, with cumulative approvals exceeding US$1.2 billion supporting key sectors of the economy and contributing to enhance the country’s trade and development capacity.

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

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US Federal Court Dismisses All Claims Against Binance in Anti – Terrorism Lawsuit

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Binance

While the Court has allowed plaintiffs 60 days to file an amended complaint in light of a recent appellate decision, Binance is confident that no amended pleading will be able to cure the fundamental deficiencies the Court identified

JOHANNESBURG, South Africa, March 9, 2026/APO Group/ –Court rejects allegations that Binance (www.Binance.com) assisted, participated in, or conspired with terrorists. This represents a decisive legal dismissal of all claims

 

Binance, the world’s largest cryptocurrency exchange by registered users, announced today that a U.S. federal court in the Southern District of New York has dismissed all claims brought against the company under the Anti-Terrorism Act (ATA). The lawsuit involved 535 plaintiffs who alleged that Binance provided material support related to 64 terrorist attacks.

In a 62-page decision, the Court found that plaintiffs failed to establish any of their central allegations: that Binance assisted terrorists, that Binance associated itself with terrorist attacks, that Binance participated in or sought to advance those attacks, or that Binance engaged in any conspiracy with terrorist organizations.

“This dismissal is a complete vindication of all false allegations,” said Eleanor Hughes, Binance’s General Counsel. “The court has unambiguously rejected the false and damaging narrative that Binance assisted terrorists. We have always maintained that these claims were without merit, and today’s ruling confirms that. We will continue to defend ourselves aggressively against any litigation or reporting that misrepresents who we are and how we operate.”

We will continue to defend ourselves aggressively against any litigation or reporting that misrepresents who we are and how we operate

A Full and Complete Legal Victory

The Court’s decision to dismiss all claims — across every allegation, represents a decisive legal victory.

While the Court has allowed plaintiffs 60 days to file an amended complaint in light of a recent appellate decision, Binance is confident that no amended pleading will be able to cure the fundamental deficiencies the Court identified. The underlying claims have been thoroughly examined and rejected.

Commitment to Compliance and Legal Integrity

Binance has consistently invested in industry-leading compliance infrastructure, regulatory engagement, and legal governance. Today’s ruling affirms that Binance’s operations do not support, facilitate, or enable terrorism in any form.

The company will continue to engage constructively with regulators worldwide, operate within established legal frameworks, and pursue vigorous legal action where necessary to correct false and misleading narratives about its business.

Distributed by APO Group on behalf of Binance.

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