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Kevin Chika Urama urges Nordic and Irish entrepreneurs in to make Africa their business and investment destination

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African Development Bank Group

According to Urama, agriculture and energy in Africa offer huge opportunities for trade and investment with Nordic countries

ABIDJAN, Ivory Coast, October 12, 2023/APO Group/ — 

The African Development Bank Group’s (www.AfDB.org) Chief Economist, Prof Kevin Chika Urama, has urged entrepreneurs in Nordic countries and Ireland to make Africa their business and investment destination.

Prof Urama, on an official visit to Denmark, Finland, Ireland, Norway and Sweden between 25-29 September, said Africa’s population boom – projected to make it the world’s most populous region by the end of the century, with up to 3.4 billion people – offers huge business and investment opportunities to the rest of the world.

“With a population of more than 1.3 billion [currently], a youthful population of 600 million, rapid urbanization and rising incomes of the middle class, Africa is the lead-ing emerging market frontier,” said Prof. Urama, who was accompanied on the trip by Ms. Mette Knudsen, Executive Director for the Nordic-Indian-Irish Consituency at the African Development Bank.

According to Urama, agriculture and energy in Africa offer huge opportunities for trade and investment with Nordic countries, as the size of the food and agriculture market in Africa will rise to USD 1 trillion by 2030 from USD 300 billion in 2022.

Africa has 65% of the world’s uncultivated arable land with vast potential for sustainable agriculture and agribusiness.

Speaking in Copenhagen, Denmark, during a meeting with businesspeople on 28 September, Urama said that the African Continental Free Trade Area, the largest regional bloc in the world in terms of the number of countries, is estimated at $3.5 trillion in market size.

“Danish businesses should seize these business opportunities and invest more in Africa,” said Prof. Urama, who is also the Bank’s Vice President for Economic Governance and Knowledge Management.

He said that bilateral trade between Denmark and Africa increased by 28.6% between 2018 and 2022, from USD 2 billion to USD 2.6 billion and noted there was potential for growth.

Between 2018 and 2022, total exports to Africa from Norway represented on average only 0.4% of Africa’s total imports

“But this increase is insufficient in both value and relative terms. Between 2018 and 2022, total exports to Africa from Denmark represented on average only 0.3% of Africa’s total global imports,” he said.

Denmark’s imports from Africa represent only 0.1% of Africa’s total exports between 2018 and 2022.

“This needs to change given the huge potential and opportunities that African markets offer to Danish businesses for trade and investment and the strong partnership between Denmark and African countries,” he said.

Similarly, while addressing a business roundtable in Oslo, Norway, Urama highlighted the low levels of trade between Norway and African countries, despite the enormous potential that African markets offer to Norwegian businesses.

Bilateral trade increased from USD 3.1 billion in 2018 to USD 5.2 billion in 2022, an increase of 68%. Foreign Direct Investment (FDI) by Norway in Africa was estimated at USD 1.6 billion in 2021, a 12% decline from 2020.

“Much needs to be done to improve trade and investment between Norway and Africa. Between 2018 and 2022, total exports to Africa from Norway represented on average only 0.4% of Africa’s total imports,” he clarified.

Urama made similar calls to investors in Ireland, Finland and Sweden, encouraging them to seize investment opportunities in Africa, particularly in key areas such as green metals, such as lithium and cobalt, that will drive global market growth in clean technologies.

“The continent holds 80% of the world’s platinum; 50% of cobalt and 40% of magnesium, as well as vast deposits of lithium and graphite,” he said.

There are also untapped opportunities in the development of Special Agro-industrial Processing Zones. The African Development Bank and its partners are investing over USD 1.5 billion in the development of these zones, with 25 zones under development in 11 countries, he added.

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

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

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

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

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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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