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African Development Bank Approves Equity Investment in The Currency Exchange Fund to Support Access to Local Currency Financing across Africa

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7 months ago

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Africa

This strategic investment will strengthen TCX’s capital base, enhance its risk-bearing capacity, and expand its ability to offer hedging instruments in illiquid and less liquid currencies across the African continent

ABIDJAN, Ivory Coast, September 18, 2025/APO Group/ –The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved an equity investment of USD 25 million in The Currency Exchange Fund (TCX), a global leader in offering long-term local currency hedging solutions in emerging and frontier markets.

This strategic investment will strengthen TCX’s capital base, enhance its risk-bearing capacity, and expand its ability to offer hedging instruments in illiquid and less liquid currencies across the African continent. The transaction will help mitigate the foreign exchange risks faced by borrowers in Africa, particularly those operating in fragile states and underserved markets. TCX operates as a development-focused fund that provides tailor-made FX hedging instruments to enable local currency lending in countries where conventional hedging markets are either underdeveloped or non-existent. The Bank’s investment will crowd in additional DFIs and private investors, reinforce Africa’s integration into global capital markets, and support sustainable growth by reducing the mismatch between the currency of debt and revenue for local borrowers.

The Bank’s support to TCX will unlock local currency financing for MSMEs, infrastructure and many sectors across Africa

Ahmed Attout, Director of the financial Sector Development Department, at the African Development Bank Group, stated: “This investment in TCX marks an important milestone in the Bank’s effort to deepen African capital markets and address the root causes of debt distress. The Bank’s support to TCX will unlock local currency financing for MSMEs, infrastructure and many sectors across Africa.” He added : “The transaction forms part of the Bank’s broader objective to promote access to adequate financing through innovative alternative solutions.”

The investment builds on the Bank’s prior participation in TCX and reflects its continued confidence in the fund’s track record and impact-driven model. TCX has hedged more than USD 17 billion in notional amounts since inception, including over USD 4 billion across 31 African countries. The Bank’s participation is expected to facilitate increased hedging volumes in priority sectors such as the public sector (Debt Management Offices and Public Development Banks),  infrastructure, energy access, microfinance, and SME development. TCX also plays a unique role in fragile and low-income countries, with around 18% of its global outstanding portfolio currently focused on such markets.

Ruurd Brouwer, TCX’s Chief Executive Officer stated : “We are thrilled to welcome African Development Bank Group to TCX’s capital base, joining fellow development finance institutions, impact investors and governments that support our local currency hedging solution. It marks the start of a close partnership in protecting AfDB’s public and private sector borrowers from currency risk and promoting the development of African capital markets. We very much look forward to increasing our joint impact on the continent.”

This operation is aligned with the Bank’s Ten-Year Strategy 2024–2033. It complements the Bank’s broader capital markets strategy, which includes support for local currency bond issuance, Partial Credit Guarantees, and private sector local currency lending.

The investment is expected to deliver strong development impact. The African Development Bank remains committed to fostering resilient capital markets in Africa, supporting de-risking mechanisms for the private sector, and expanding access to local currency finance to promote inclusive and sustainable development.

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

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Canada–Africa Financing Forum to Convene Investors and Decision-Makers in Cape Town – May 14, 2026

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8 hours ago

on

April 29, 2026

By

Ateau Zola

This timely Forum comes on the heels of commitments announced by Canadian Prime Minister Mark Carney, deepening Canada–Africa commercial ties and expanding investment partnerships

TORONTO, Canada, April 29, 2026/APO Group/ –The Canada–Africa Chamber of Business (https://CanadaAfrica.ca) will convene investors, financiers, policymakers, and industry leaders in Cape Town on May 14, 2026 for the Canada–Africa Financing Forum—a high-level platform focused on unlocking capital and accelerating deal flow across African markets.

Registration is open (http://apo-opa.co/4vZN6oV)

This timely Forum comes on the heels of commitments announced by Canadian Prime Minister Mark Carney, deepening Canada–Africa commercial ties and expanding investment partnerships. The program connects leaders from venture capital, private equity, and institutional investors to examine where capital is moving—and where the next opportunities lie—supported by Canadian project partners with proven capacity to deliver on-the-ground.

Delegates will engage directly with finance and investment decision-makers, following the program opening, featuring messages from President Cyril Ramaphosa and Prime Minister Mark Carney, in addition to high-level Ministerial representation.

This Forum is about capital deployment, not just conversation

“This Forum is about capital deployment, not just conversation,” said Garreth Bloor, President of the Canada–Africa Chamber of Business. “We are convening investors, institutions, and project leaders who are actively shaping transactions across Africa—and connecting them directly with Canadian partners who are ready to work together.”

The Canada–Africa Financing Forum reflects the Chamber’s role as a privately financed, market-led platform advancing Canada-Africa trade and investment through world-class networking and information-sharing events.

Why Attend

  • Direct access to active dealmakers and capital allocators
  • Insights into where capital is being deployed and key players delivering major projects
  • Opportunities to build partnerships across Canada and African markets
  • Participation in a curated, high-level environment focused on execution

Secure Your Place

Space is limited and demand is strong.

Apply to secure your place (http://apo-opa.co/4vXb9oz)

Read More and View the Program (http://apo-opa.co/4vZN6oV)

Distributed by APO Group on behalf of The Canada-Africa Chamber of Business.

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ORUN and 1xBET Partner to Support a Dynamic Creative Africa

Published

15 hours ago

on

April 29, 2026

By

MIR Holding

During the MASA 2026 edition, held from April 11 to 18, 2026, ORUN and 1xBET implemented the We Champion Talent program, an initiative aimed at promoting African talent and advancing the development of Cultural and Creative Industries (CCIs)

ABIDJAN, Ivory Coast, April 28, 2026/APO Group/ –As part of the Innovation Village co-organized with MASA at the Palais de la Culture in Abidjan from April 14 to 18, ORUN (https://ORUN.Africa) announces the rollout of its partnership with 1xBET to support a creative Africa that is structuring itself, professionalizing, and scaling across the continent.

We aim to demonstrate that it is possible to support African talent, narratives, and creative ecosystems over the long term, with ambition and consistency

Designed as a space of convergence between heritage, innovation, and knowledge transmission, the Innovation Village features scenography crafted by Ivorian artisans, a program of panels and masterclasses on creative industries, an immersive experience produced by Orun Studios, and a major institutional highlight on April 17. Its narrative platform is built around three pillars: memory, structure, and transmission. The initiative aims to position cultural and creative industries as an economic driver for the continent.

“The Innovation Village was conceived as an act of construction. By partnering with organizations such as 1xBET, we aim to demonstrate that it is possible to support African talent, narratives, and creative ecosystems over the long term, with ambition and consistency,” said Habyba Thiero, CEO of Africa Currency Network and President of ORUN.

This vision aligns with ORUN’s broader ambition to produce, structure, and internationalize African creative industries through events, content, and strategic partnerships.

Distributed by APO Group on behalf of ORUN, part of African Currency Network (ACN).

 

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MIR Holding Reaffirms Its Commitment to African Creative Industries Alongside ORUN at Marché des Arts du Spectacle Africain d’Abidjan (MASA) 2026

Published

15 hours ago

on

April 29, 2026

By

MIR Holding

More than event support, this partnership reflects a commitment to backing platforms capable of structuring value chains, increasing the visibility of talent, and fostering the emergence of strong African creative infrastructures

ABIDJAN, Ivory Coast, April 28, 2026/APO Group/ –On the occasion of MASA 2026, held from April 11 to 18 in Abidjan, MIR Holding (https://MIRHolding.odoo.com) reaffirmed its commitment to supporting the growth of African creative industries by partnering with ORUN as part of the Innovation Village, hosted at the Palais de la Culture in Abidjan. This presence reflects a clear intention to support the scaling of cultural and creative industries so they can fully contribute to job creation and value generation across the continent.

 

Co-organized by ORUN and MASA, the Innovation Village brought together over several days scenography designed by Ivorian artisans, a program of panels and masterclasses dedicated to creative industries, an immersive experience produced by Orun Studios, and a key institutional highlight on April 17.

At MIR Holding, we believe that Africa’s future will also be shaped by its ability to structure its narratives, its talent, and its creative value chains

Built around three pillars — memory, structure, and transmission — the initiative carried a renewed ambition for culture: positioning it as a concrete lever for economic structuring and African projection.

By supporting this initiative, MIR Holding aligns with a broader dynamic aimed at strengthening connections between creation, entrepreneurship, content, youth, and growth ecosystems. More than event support, this partnership reflects a commitment to backing platforms capable of structuring value chains, increasing the visibility of talent, and fostering the emergence of strong African creative infrastructures. MIR Holding stands among the main partners of the Village, alongside Africa Currency Network and other stakeholders engaged in this vision.

“With ORUN, we are not only seeking to make culture visible. We aim to help provide it with a framework, a reach, and a trajectory. What is at stake here is the continent’s ability to better transform its creative energy into sustainable value, real opportunities, and influence,” said Habyba Thiero, CEO of Africa Currency Network and President of ORUN.

Mouhamed Dieng, President of MIR Holding, added: “Supporting Africa’s creative industries is not about backing a secondary sector. It is about investing in one of the continent’s most powerful spaces for storytelling, youth, innovation, and competitiveness. At MIR Holding, we believe that Africa’s future will also be shaped by its ability to structure its narratives, its talent, and its creative value chains.”

Distributed by APO Group on behalf of MIR Holding.

 

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