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African Export-Import Bank (Afreximbank) Celebrates Outgoing President and Chairman

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The legacy conference also featured tributes delivered by Afreximbank staff, members of the business community, political leaders, friends and other people from various walks of life who were impacted by the work of Prof. Oramah

CAIRO, Egypt, October 26, 2025/APO Group/ –African Export-import Bank (Afreximbank) (www.Afreximbank.com) in Cairo, Egypt, marked the end of the tenure of Prof. Benedict Okey Oramah as its President and Chairman of the Board of Directors, with a legacy conference where the outgoing President announced that he made the promotion of intra-African trade and investment the arrowhead of the Bank’s strategy when he took office because of a conviction that was the only viable path forward for Africa’s development and economic emancipation.

The Farewell conference, attended by more than 2,000 guests, attracted heads of state, former heads of state, other government leaders and representatives from across Africa and the Caribbean, top African business leaders, all former Afreximbank Presidents, Afreximbank President designate, members of the Bank’s Board of Directors, shareholders, serving and former staff members, friends and family of Prof. Oramah and Afreximbank as well as a host of other dignitaries.

In a farewell address, Prof. Oramah stated: “Our philosophy was borne out of the conviction that the only viable path forward for Africa’s development and economic emancipation was one that would aggressively reverse-engineer the colonial strategy of ‘divide-and-rule’ and ‘divide-and-conquer’ that had, for decades, pinned Africa and people of African descent down in the dustbin of despair and desperation.”

“Accordingly, our philosophy was that Africa’s development dynamo must be powered from within, as hundreds of years of history, had shown us that external interests had been mostly predatory and parasitic, unless engaged from a position of strength and purpose,” he explained.

Prof. Oramah added that, because Afreximbank fought on all fronts, “we can point to tangible differences the Bank has made; we can now point to those things that now exist, those new institutional arrangements and interventions that have now joined as formidable forces in Africa’s armoury in its fight towards true self-determination – those things that we look up to today, many of which were mere hopes and aspirations, 10 years ago”.

Earlier, Dr. George Elombi, President Designate of Afreximbank, described Prof. Oramah as “one of the few in the world, the 0.8 per cent, who combines vision and execution”, saying that, under his leadership, Afreximbank and its willing partners built a solid foundation for enhancing intra-African trade and industrial development.

“Instruments were created to dismantle the obstacles that have hindered Africa’s progress for nearly seven decades since Africa’s independence. He confronted the challenges of Africa’s industrial underdevelopment head-on, building on the work of those who came before him,” said Dr. Elombi.

He noted that Afreximbank was now one of the key multilateral financial institutions leading Africa’s development efforts, particularly in implementing the African Continental Free Trade Agreement (AfCFTA) and transforming the continent’s industrial landscape, adding, “Oramah has turned decades and centuries-old political wishes into tangible gains for all Africans.”

Prof. Oramah’s 10-year tenure, which began in September 2015, saw Afreximbank’s balance sheet and guarantees grow almost eight-fold, from US$6 billion when he took office to almost US$44 billion as at September 2025. It also saw the introduction and implementation of far-reaching products, programmes and initiatives specifically designed to address the challenges facing Africa’s trade and economic growth, helping to cement Afreximbank’s place as Africa’s foremost trade finance institution.

Oramah has turned decades and centuries-old political wishes into tangible gains for all Africans

During his time, Afreximbank’s support played a significant role in putting the implementation of the AfCFTA ahead of schedule. The Pan-African Payment and Settlement System (PAPSS), which it has backed with a US$3 billion clearing and settlement facility, has become operational in 20 countries and has made it possible for African countries to trade across borders in their own local currencies.

The AfCFTA Adjustment Funds, supported by Afreximbank with a US$1 billion commitment and a partnership with the AfCFTA Secretariat, is enabling AFCFTA participating states to adjust in an orderly manner to the new trading regime.

The biennial Intra-African Trade Fair, introduced by Afreximbank in 2018, is tackling the challenge of limited access to trade and investment information across Africa and has, in its four editions, attracted over US$170 billion in trade and investment deals and 180,000 visitors. Moreover, the Bank’s digital platform, the Africa Trade Gateway, is using digital technology to break down information barriers, while the Afreximbank Africa Trade Centres, which have sprung up across the continent, are providing solid platforms for intra-African trade and investment information.

In the area of standards, through the Bank’s testing and certification centres, about 500 standards for pharmaceuticals and medical equipment, agriculture, automobiles, textiles, etc. have been harmonised, enabling smoother intra-African trade as the Bank continues to build more centres across Africa to ensure that there is infrastructure to implement the standards it has helped to harmonise.

Working with the AFCFTA Secretariat and COMESA, Afreximbank launched the African Collaborative Transit Guarantee Scheme, supported by US$1 billion in guarantee limits, which addresses the transit barriers to the movement of goods across borders.

In addition, Afreximbank is supporting the development of industrial parks and special economic zones across Africa, creating exports where none existed, including the emergence of heavy industries, such as the Dangote Refinery and Petrochemical plant in Nigeria.

Also, importantly, the Bank’s work has ignited socio-cultural and economic ties between Africa and the CARICOM and the broader African diaspora and its execution of African Medical Centre of Excellence projects has paved the way for quality healthcare to become accessible to many Africans.

Other significant accomplishments include the Bank’s COVID-19 intervention when it disbursed over US$10 billion to enable Africa to fend for itself during the COVID-19 Pandemic. The Bank also put up US$2 billion that enabled Africa and the Caribbean to procure COVID-19 vaccines.

Additionally, under President Oramah, Afreximbank recently launched the African Trade and Distribution Company (ATDC), an institution designed to tackle logistical hurdles in cross-border trade within the continent.

The legacy conference also featured tributes delivered by Afreximbank staff, members of the business community, political leaders, friends and other people from various walks of life who were impacted by the work of Prof. Oramah.

Distributed by APO Group on behalf of Afreximbank.

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Sierra Leone’s PDSL to Host Strategic Investor Roundtable at Paris Energy Forum

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The Petroleum Directorate of Sierra Leone will lead a targeted roundtable at Invest in African Energy 2026, spotlighting upstream potential and cross-regional partnerships

PARIS, France, March 24, 2026/APO Group/ –The Petroleum Directorate of Sierra Leone (PDSL) is set to convene an investor roundtable at Invest in African Energy (IAE) Forum 2026 in Paris, underscoring growing interest in West and North African energy markets and the need for deeper capital engagement across exploration, renewable and offshore services. The session reflects a strategic effort by Sierra Leone to connect its emerging upstream prospects with established operators and project developers as the country moves to unlock the full potential of its emerging oil and gas industry.

 

Sierra Leone is increasingly positioning itself as a frontier oil and gas market with significant offshore potential, and part of the PDSL’s mandate is to catalyze investment interest in its offshore acreage through direct engagement with global capital. Recent data suggest the country holds estimated recoverable resources in the tens of billions of barrels, backed by discoveries and extensive multi‑client seismic datasets that prospective investors are evaluating. The PDSL is actively promoting licensing opportunities and drilling plans, emphasizing fiscal terms and exploration readiness to attract strategic partners.

 

A cornerstone of this strategy is the anticipated launch of the country’s sixth licensing round. Offering a rare early-entry opportunity into a largely untapped deepwater terrain with considerable upside, the upcoming bid round is backed by fresh 3D datasets which de-risk exploration and support new drilling campaigns. Just this month, GeoPartners announced that the final Pre-Stack Time Migration data for its recently acquired 3D multi-client seismic survey in the country was complete and is now available for licensing. The dataset provides a 3D window into the hydrocarbon potential of the underexplored northern Sierra Leone region.

 

Sierra Leone’s licensing drive comes as major operators advance exploration activities. In 2025, Eni signed a Reconnaissance Permit Agreement with the PDSL, securing rights to conduct reconnaissance and technical evaluation activities across offshore blocks G113, G129, G130, G131 and G132. The acreage covers 6,790 square kilometers within Sierra Leone’s territorial waters. Nigeria’s F.A. Oil Limited is pursuing drilling following its award of six offshore blocks through the country’s fifth licensing round in 2023. The company is currently seeking a farm-in partner to advance the project from exploration to production, offering a 40% stake in each of the G Blocks 53, 54, 55, 71, 72 and 73.

 

As these development unfold, the upcoming roundtable at IAE 2026 offers a unique opportunity for operators and policymakers to engage potential investors. The IAE 2026 Forum has become a strategic bridge between African upstream opportunities and global investors, with sessions like the PDSL roundtable designed to foster deeper dialogue and provide clarity on project pipelines and investment prerequisites. Discussions are expected to cover mechanisms for de‑risking exploration activity, optimizing fiscal and contractual frameworks and identifying synergies between hydrocarbon investment and renewable energy commitments.

 

For investors seeking differentiated exposure to African energy markets, the Sierra Leone roundtable represents both a focused exploration of frontier oil potential and a broader conversation about regional infrastructure, partnerships and the evolving demands of energy capital in the years ahead.

 

IAE 2026 (www.Invest-Africa-Energy.com) is an exclusive forum designed to connect African energy markets with global investors, serving as a key platform for deal-making in the lead-up to African Energy Week. Scheduled for April 22–23, 2026, in Paris, the event will provide delegates with two days of in-depth engagement with industry experts, project developers, investors and policymakers. For more information, visit www.Invest-Africa-Energy.com. To sponsor or register as a delegate, please contact sales@energycapitalpower.com

 

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

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Cape Town Prepares for African Mining Week 2026 as Draft Program Reveals Continent’s Mineral Drive

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African Mining Week returns for its 2026 edition with an expanded three-day program, bringing together African mining leaders and global partners to shape the future of the continent’s mining sector

CAPE TOWN, South Africa, March 24, 2026/APO Group/ –Global economic trends – from record-breaking commodity prices to intensifying geopolitical competition for resources – are reshaping the strategic importance of Africa’s mineral wealth. As global countries race to secure supply chains for energy transition metals – which are expected to triple by 2030 – Africa is positioning its 30% share of the world’s critical minerals as a key pillar of economic growth. African governments are modernizing mining codes, developing industrial corridors and investing in mineral processing facilities to support local beneficiation, job creation, workforce development and regional mineral markets.

 

Against this backdrop, the upcoming African Mining Week (AMW) Conference & Exhibition – Africa’s premier gathering for mining stakeholders – has launched the draft program for its 2026 edition {https://apo-opa.co/3NneKLj}. Scheduled to take place October 14–16 in Cape Town, the event provides a platform where policymakers, global investors, project operators, technology providers, academia and mining service companies examine Africa’s mining opportunities, challenges and long-term strategic direction.

Under the theme ‘Mining the Future: Unearthing Africa’s Full Mineral Value’, the three-day, multi-track agenda reflects the growing urgency among African markets to strengthen value addition across the mining value chain.

Regional Cooperation and Policy Alignment in Focus

A key feature of the agenda is the Ministerial Forum, where African mining ministers will provide updates on regulatory reforms and policy alignment initiatives aimed at unlocking greater value from the continent’s mineral resources. Discussions will examine how harmonized regulatory frameworks and regional cooperation can accelerate investment flows and strengthen Africa’s position in global mineral supply chains.

The inclusion of regional policy integration reflects a growing continental push to leverage frameworks such as the African Continental Free Trade Area (AfCFTA) to enhance cross-border mineral cooperation and trade.

We are acting to enhance regional integration through frameworks such as the African Mining Vision and the Africa Mineral Strategy Group

“Africa’s integration is not only a political objective but a strategic economic vision,” stated Emmanuel Armah-Kofi Buah, Ghana’s Minister of Lands and Natural Resources, in remarks reported by Energy Capital & Power – organizers of AMW – in February 2026. “Our natural resources require coordinated policies. Isolated legal frameworks cannot fully unlock their value. Through integration and initiatives such as the ECOWAS [Economic Community of West African States] Mining Code and the African Mining Vision, we can build a stronger and more competitive mineral economy.”

Nigeria’s Minister of Solid Minerals Development, Henry Alake, echoed this emphasis on regional cooperation and beneficiation.

“We are acting to enhance regional integration through frameworks such as the African Mining Vision and the Africa Mineral Strategy Group,” he stated. “We must develop mineral corridors that connect resources, infrastructure and markets across the continent. Our goal is not to simply export raw materials, but to develop industrial hubs that create jobs and value across borders.”

Connecting Global Investors with African Opportunities

Strategic roundtables and Country Focus sessions form a key part of the AMW 2026 program, connecting African mining jurisdictions with international partners from the U.S, Europe, the Middle East and China. These sessions will provide African stakeholders with a platform to showcase exploration opportunities and project pipelines across the mining value chain.

Meanwhile, technical workshops and the exhibition floor at AMW 2026 will provide a platform for equipment manufacturers, technology providers and engineering firms to showcase innovations designed to enhance operational performance across mining operations.

By combining high-level policy dialogue with technical expertise and investment matchmaking, AMW 2026 positions itself as a critical marketplace where Africa’s mineral potential converges with global capital, technology and strategic partnerships – helping shape the next phase of growth for the continent’s mining sector.

AMW serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2026 conference from October 12-16 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

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

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Tony Elumelu Foundation Selects Seven North African Entrepreneurs in 2026 Cohort

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Seven North African entrepreneurs in technology, education, professional services and agriculture selected from 265,000 applications at historic Abuja ceremony

Hope is not just a feeling — it is a system we can build

ABUJA, Nigeria, March 24, 2026/APO Group/ —
  • 7 North African entrepreneurs selected from Morocco, Tunisia and Egypt
  • 51% of the 2026 cohort are women, all selected purely on merit, without any quota in place
  • 3,200 total entrepreneurs selected from 265,000+ applications across 54 African countries
  • USD 5,000 in non-refundable seed capital for each selected entrepreneur
  • Selection conducted independently by Ernst & Young

 

The Tony Elumelu Foundation (TEF) (www.TonyElumeluFoundation.org), the leading philanthropy empowering young African entrepreneurs, announced on Sunday, 22 March 2026 the 12th cohort of the TEF Entrepreneurship Programme at a ceremony held at the Transcorp Hilton, Abuja. The announcement was made by Founder Tony O. Elumelu, C.F.R.

 

Among the 3,200 entrepreneurs selected from 265,000 applications received from all 54 African countries: seven from North Africa. Three from Tunisia, two from Morocco, two from Egypt. Spanning technology, education, professional services and agribusiness, they represent a generation of North African founders building businesses that address the urgent needs of their communities. Their selection, which was conducted independently by Ernst & Young, places them among the most rigorously assessed young entrepreneurs on the continent.

 

This year’s cohort carries a historic signal: 51 percent of the 2026 entrepreneurs are women. They were selected purely on merit, without quota. Across hundreds of thousands of applications, women distinguished themselves through the strength of their ideas, the clarity of their business models and the ambition of their vision.

 

In 2026, the Foundation is empowering a total of 3,200 entrepreneurs across all its entrepreneurship programmes:

 

  • 1,751 entrepreneurs through Heirs Holdings Group: Heirs Energies, Transcorp Power, Transcorp Hotels, and United Capital;
  • 1,049 entrepreneurs in partnership with the European Commission, OACPS, BMZ and GIZ;
  • 100 entrepreneurs in partnership with Sèmè City Development Agency;
  • 100 entrepreneurs in partnership with DEG, the German Development Agency;
  • 100 entrepreneurs in partnership with the IKEA FoundationUNICEF’s Generation Unlimited and the Dutch Government; and
  • 100 entrepreneurs in partnership with UNDP and the Rwandan Ministry of Youth and Arts.

 

 

Each selected Tony Elumelu Entrepreneur will receive USD 5,000 in non-refundable seed capital, access to world-class business management training on TEFConnect, one-on-one mentorship, and entry into a powerful network of investors, partners and fellow entrepreneurs.

 

In his annual letter (https://apo-opa.co/4uOFepM), “A Story of Hope,” Tony O. Elumelu, C.F.R., Founder of the Tony Elumelu Foundation, shared a powerful message to the new cohort:

 

“For a long time, I believed luck was something that simply happened to you. Then I came to understand: luck can be engineered. Opportunity can be democratised. Hope is not just a feeling — it is a system we can build.” — Tony O. Elumelu, C.F.R., Founder, Tony Elumelu Foundation — 2026 Annual Letter

 

The Tony Elumelu Foundation has empowered over 2.5 million young Africans with access to business management training on TEFConnect (https://TEFConnect.com), and disbursed over USD 100 million in seed capital to more than 24,000 selected entrepreneurs.

 

Collectively, these entrepreneurs have generated USD 4.2 billion in revenue and created more than 1.5 million direct and indirect jobs. Through its support for African entrepreneurs, TEF has lifted 2.1 million Africans above the poverty line and positively impacted more than 4 million African households, with 46% of supported entrepreneurs being African women. Eighty percent of TEF-supported businesses survive and scale, against a global average of ten to twenty percent.

 

 

The announcement ceremony was broadcast live in English (https://apo-opa.co/3PWLiML), French (https://apo-opa.co/3PWLiML), Portuguese (https://apo-opa.co/4t4Y7Da) and Arabic (https://apo-opa.co/4bYHlQl).

 

Distributed by APO Group on behalf of The Tony Elumelu Foundation.

 

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