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African Development Bank, Agence Française de Développement cement partnership to support youth entrepreneurship in Africa

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African Development Bank

Africa is home to the youngest population in the world with over 60% of people on the continent below 25 years

ABIDJAN, Ivory Coast, October 14, 2024/APO Group/ — 

The African Development Bank Group (www.AfDB.org) and Agence Française de Développement (AFD) on Friday announced they would renew their joint efforts to catalyse resources to boost entrepreneurship in Africa as a crucial driver of economic development, tackling unemployment and reducing inequality.

African Development Bank President Dr Akinwumi A. Adesina and Agence Française de Développement Chief Executive Officer Rémy Rioux signed a letter of intent on behalf of their institutions following a meeting in Abidjan, home to the Bank’s headquarters.

Through its Youth Entrepreneurship Investment Bank (YEB) initiative, the African Development Bank is providing an ecosystem and entrepreneurial services, promoting inclusive, private sector-led economic growth, and creating opportunities for young entrepreneurs. The Agence Française de Développement’s Choose Africa 2 program (http://apo-opa.co/3NqMq7a), seeks to deepen its impact by fostering public policy dialogue, supporting governments in creating a conducive ecosystem for entrepreneurship development, and addressing the technical and financial support needs of entrepreneurs.

We will be putting our risk capital to the benefit of youth

Together, the organisations through these initiatives and others, will collaborate closely to support and advocate for entrepreneurship in Africa and strengthen entrepreneurial ecosystems.

Noting the challenge of transforming the demographic dividend of Africa’s over 400 million youth into economic dividends, Adesina said he was fully satisfied with the cooperation with AFD “which testifies to our commitment to job creation for the continent of Africa.”

“We will be putting our risk capital to the benefit of youth. The greatest risk is not investing in youth. The future of Africa is in on the continent,” Adesina said.

Remy Rioux said it was imperative to emphasise the economic welfare of African youth to avoid the pitfalls of economic migration. “Every year 20 million youth – the population of Senegal – join the workforce in Africa,” he noted. He commended the work of the African Development Bank, especially the Affirmative Finance Action for Women in Africa (AFAWA) initiative which has made “spectacular achievements by financing women,” he said. Under partnership between Choose Africa 2 and the African Development Bank’s youth investment banks AFD is developing instruments that will benefit and create opportunities for youth in Cote d’Ivoire, Benin and Togo, Rioux said.

Rioux was accompanied by AFD’s Director of Cabinet Tristan Mouline, Lionel Yondo, Regional Director for the Gulf of Guinea, Adrien Haye, director of the Cote d’Ivoire office and Noor Mountassir, Côte d’Ivoire country office head. From the African Development Bank, Dr Adesina was accompanied by members of the senior management team. Jerome Bertrand-Hardy, who has been seconded to the Bank from AFD, also attended.                                                                             

Africa is home to the youngest population in the world with over 60% of people on the continent below 25 years. The youth population dynamic is fueling the rise of youth-led businesses but, significant hurdles remain. Africa’s finance gap for Small and Medium Enterprises stands at $ 331billion, with over half of the MSMEs unable to access the credit they need for growth and sustainability.

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

Events

As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Business

Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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Business

The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

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

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