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Africa Finance Corporation (AFC), UNIDO and partners enter new alliance leveraging Islamic and Arab finance for economic transformation

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By integrating Islamic finance with proven entrepreneurship and business counseling interventions, IFETAA will empower MSMEs to become bankable, resilient, and key drivers of inclusive economic growth

VIENNA, Austria, June 17, 2025/APO Group/ –Today, Africa Finance Corporation (AFC) (www.AfricaFC.org), UNIDO, the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Union of Arab Banks (UAB), formalized new strategic partnerships under the Islamic and Arab Finance for Economic Transformation in Africa, the Arab Region and Beyond (IFETAA) Programme.

Access to finance remains one of the most significant barriers to SME growth and economic transformation, particularly in Africa, the Middle East and South Asia. Only one in five African firms has access to credit, and those that do often face prohibitively high interest rates averaging 25 percent, compared to just 5 percent in Europe. Islamic finance, with over US$4 trillion in assets, offers a largely untapped opportunity to address this gap by directing capital stored in monetary markets into the real economy.

IFETAA represents a new alliance that will drive capital and capacity towards MSME development, resilience and growth across low- and lower middle-income countries. The signing ceremonies of the 3 Memorandum of Understanding (MoU) took place ahead of a high-level roundtable at the Hofburg Palace in Vienna, held on the margins of the OPEC Fund Development Forum, and marked the formalization of the programme.

“As traditional development funding continues to decline, Islamic and Arab financial institutions are emerging as key partners in driving industrialization and sustainable development”, said UNIDO Director General Gerd Müller. “Through this programme, we are building a powerful new alliance to support small and medium-sized businesses, increase productivity and resilience, and accelerate economic transformation in developing countries”.

IFETAA will also leverage UNIDO’s globally recognized Enterprise Development and Investment Promotion model (EDIP)

“The IFETAA Programme will unlock urgently needed capital for Africa’s economic transformation and AFC is proud to bring its unique expertise in both conventional and Islamic finance to mobilise funding at scale,” said Banji Fehintola, Board Member and Head of Financial Services at AFC. “As an issuer, guarantor, and investor, we are committed to delivering innovative, Shariah-compliant solutions that drive inclusive and resilient economic growth, whilst contributing to strengthening the south-south cooperation required to advance our shared development goals”.

H.E. Shaikh Ebrahim Bin Khalifa Al Khalifa, Chairman of AAOIFI and the International Center for Entrepreneurship and Innovation announced that “AAOIFI is proud to contribute to this transformative partnership, which aligns Islamic finance with global development priorities and encourages Islamic financial institutions to voluntarily dedicate at least 20% of their financing – over US$1 trillion – to MSME development. We will work on developing a Shariah-compliant finance programme enriched with technical assistance, regulatory support, and capacity buildingIFETAA will also leverage UNIDO’s globally recognized Enterprise Development and Investment Promotion model (EDIP)”.

By integrating Islamic finance with proven entrepreneurship and business counseling interventions, IFETAA will empower MSMEs to become bankable, resilient, and key drivers of inclusive economic growth.

Dr. Wissam Fattouh, Secretary General of the Union of Arab Banks, stated: “IFETAA is more than a programme – it is a call to action. The Union of Arab Banks is proud to unite Islamic and Arab financial power to serve sustainable development and economic sovereignty. We are mobilizing capital not just to fund growth, but to shape the future of our region. This is about empowering MSMEs, restoring trust in financial systems, and building resilient, inclusive economies”.

IFETAA is a direct outcome of the commitments made at UNIDO’s A World Without Hunger conference in Addis Ababa in 2024. There, AAOIFI pledged to mobilize 20 percent of Islamic Financial Institutions’ loans and advancements towards MSME development, while UAB reaffirmed its commitment to channel US$1 trillion from its member banks towards the Sustainable Development Goals (SDGs). AFC, a close partner to UNIDO, expressed its support through its financial mechanisms and expertise. IFETAA will facilitate access to finance by developing a pipeline of bankable MSME projects, establish financial and non-financial de-risking mechanisms, and support host governments in strengthening regulatory frameworks to expand Islamic and conventional bank lending.

UNIDO has committed US$500,000 to support the preparation of the IFETAA programme and its initial implementation, which is co-led by the UNIDO Task Force on Islamic and Arab Financing and UNIDO’s Investment and Technology Promotion Office in Bahrain.

Each of the partner institutions brings unique strengths to the programme. AAOIFI, headquartered in Bahrain, is the world’s leading standard-setting body for Islamic finance and plays a critical role in ensuring Shariah compliance and supporting regulators and financial institutions globally. Beirut-based UAB represents over 300 Arab banks and financial institutions while serving as a regional platform for aligning Arab banking practices with global trends, including Islamic finance, ESG, and digital transformation. AFC is a pan-African multilateral financial institution specializing in infrastructure development. It has been expanding its use of Islamic finance instruments, recently closing a US$400 million Shariah-compliant Commodity Murabaha facility. AFC made history in 2017 by issuing a US$230 million Sukuk, the first-ever by an African supranational institution.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC)

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Venezuela Energy Week Confirms 19 August Date for Houston Industry Showcase

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Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the Houston Industry Showcase will take place on 19 August, convening U.S. energy leaders ahead of Venezuela Energy Week 2027 in Caracas

HOUSTON, United States of America, August 10, 2026/APO Group/ –The organizers of Venezuela Energy Week (VEW) have confirmed that the Houston Industry Showcase will take place on 19 August 2026 at The Post Oak Hotel. Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the event will bring together U.S. energy companies, investors and policymakers to explore commercial opportunities ahead of Venezuela Energy Week 2027 in Caracas in February.

The showcase will feature Minister of Hydrocarbons Paula Henao as a keynote speaker, providing an update on Venezuela’s energy priorities, investment agenda and opportunities for international partnership. Her participation underscores the country’s commitment to strengthening engagement with global industry as it seeks to expand production and unlock new upstream investment.

Bringing together exploration and production companies, independent operators, oilfield service providers, engineering firms, technology companies and financial institutions, the Houston Industry Showcase will examine opportunities across exploration, production optimization, infrastructure rehabilitation and field development.

As Venezuela works to increase oil and gas production, demand is expected to grow for the technical expertise of U.S. service providers in drilling, well intervention, completion services, production optimization, artificial lift, digital oilfield technologies and infrastructure rehabilitation. Houston-based industry leaders – including SLB, Halliburton, Baker Hughes, Weatherford and a broad network of EPC contractors, equipment manufacturers and specialized service companies – are well positioned to support the modernization of mature fields, improve operational efficiency and deliver the technologies and services needed for future upstream projects.

The Houston event follows a successful Industry Showcase in London, which brought together international investors, operators and energy service companies to explore Venezuela’s evolving investment landscape. Building on that momentum, the Houston edition will deepen engagement with the U.S. energy industry and strengthen commercial dialogue ahead of Venezuela Energy Week 2027.

Venezuela Energy Week – the country’s largest energy investment platform to date – has been confirmed for 22–25 February 2027 in Caracas. Organized by Energy Capital & Power, the event will bring together government leaders, investors and industry stakeholders from across the global energy value chain.

To register for the Houston Industry Showcase on August 19, visit https://apo-opa.co/4g0TncR. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2027 in Caracas, contact info@venezuelaenergyweek.com.

Supporting Venezuela’s Earthquake Recovery
Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4hkvteE).

Distributed by APO Group on behalf of Energy Capital & Power.

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Islamic Development Bank Institute (IsDBI) Secures New Patent for Smart Stabilization System from Intellectual Property Office of Singapore

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The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility

JEDDAH, Saudi Arabia, August 10, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce that the Intellectual Property Office of Singapore (IPOS) has granted a new patent for its innovative Smart Stabilization System.

 

The patent was granted on 10 July 2026 under Singapore Patent No. 10202250873B for the invention titled “A Computer Network Stabilization System and Method.” The patent application was filed on 1 September 2022 and was formally granted following a comprehensive review process.

This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility. Leveraging sophisticated algorithms and advanced simulation models, the system is designed to anticipate supply and demand imbalances and implement programmable stabilization measures before they escalate into market disruptions.

Unlike traditional stabilization mechanisms that rely on capital reserves, buffer funds, or external interventions, the Smart Stabilization System introduces a next-generation framework for achieving autonomous market stabilization through proactive and programmed stabilization mechanisms. By incorporating distributed ledger technology and cryptographic trust mechanisms, the platform enhances transparency, trust, and operational resilience for digital asset and commodity markets.

The successful patent grant reflects IsDBI’s growing contribution to technological innovation and its commitment to developing knowledge-based solutions that address contemporary economic and development challenges.

Since filing the patent application back in 2022, the Institute has continued to advance the Smart Stabilization System through ongoing development and testing, aimed to expand its practical applications and support future capitalization opportunities. These advancements have positioned the system as a potentially transformative solution for enhancing stability and resilience in increasingly digital and interconnected economies.

Commenting on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said, “The grant of this patent by the Intellectual Property Office of Singapore further strengthens the Institute’s position as a leader in developing innovative knowledge-based solutions that leverage modern technologies to address complex development challenges. This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development.”

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

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