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African Hidden Champions hosts Egypt’s top business leaders

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African Hidden Champions

Participants at the event included executive leadership of African Hidden Champion companies headquartered in Cairo

CAIRO, Egypt, June 23, 2023/APO Group/ — 

The African Hidden Champions (AHC) initiative (https://www.AfricanHiddenChampions.co/) has hosted its first “Dinner & Dialogue” in North Africa in Cairo, Egypt. The event is part of a series of regional events that the initiative is holding in key business hubs across Africa in 2023.

AHC, a co-partnership of Africa Foresight Group, DEG – Deutsche Investitions- und Entwicklungsgesellschaft (The German Development Finance Institution) and the African Development Bank, was founded in 2020 and now has more than 25 dynamic African firms in its network, supporting them by telling their stories, exposing them to new markets, and providing technical assistance.

The event took place on 19 June.

“We are very honoured to be hosting this regional forum with key players in the business sector of not only the country but also the North African region. We believe that African companies have the necessary leadership capacity and knowhow to conquer global markets,” said Yasmin Kumi, AHC Co – Founder and CEO Africa Foresight Group. Co-partner DEG representative, Wael Akari added that “North Africa is a vital part of the African economic growth story, so it is no surprise that several AHC firms are located in the region”.

Participants at the event included executive leadership of African Hidden Champion companies headquartered in Cairo.

Ahmed Ezz El – Din, Group CEO of Cleopatra Hospitals said the initiative represented recognition of his group’s unwavering commitment to excellence and to the growth and development of the Egyptian healthcare industry.

“We believe in the immense potential of Africa’s business landscape, and we are committed to actively contributing to its growth by sharing our expertise and best practices while fostering collaborations and partnerships that enhance healthcare outcomes across the continent. With Egypt’s strategic geographic location and its potential to serve as a regional hub, CHG is well-positioned to expand its reach and capitalize on business opportunities within Africa,” El Din added.

The growth of these enterprises and their participation in the global value chain in turn catalyzes their countries’ economies

The vice chairman of the Al Araby Group, an African home appliance brand with a footprint in several countries across the continent, said the firm was expanding its business further and aspired to become a global brand. Dr Mamdouh Al Araby told participants that the group which began operations in 1964, has a workforce of more than 40,000.

Dr. Ghada Abuzaid, Principal Industrial Program Coordinator represented the Bank Group’s Industrial and Trade Development Department which supports the acceleration of industrialization and private sector development in Africa through several flagship programs.

“To help African businesses grow and thrive beyond their borders, since 2015, The African Development Bank has channelled a total investment of $550 million in regional champion fertilizer producers and is committed to invest more than $3 billion in support of local and regional manufacturers to upscale their capacities, broaden their product lines and increase their industrial footprint beyond the borders,” Ghada said.

“The growth of these enterprises and their participation in the global value chain in turn catalyzes their countries’ economies,” she added.

The chairman of the Egyptian-African Businessmen Association, Dr Yousry El Sharkawi, described the event as a good opportunity to meet business owners, large companies and decision makers from the private sector.

“We believe in the bank’s effective private sector engagement and its innovative financial tools and as it plans to support industrial activities. It is worth noting that the meeting brought together a new and distinguished network that will produce a potentially diversified investment basket,” El Sharkawi said.

The event also received endorsements from other participants.

“African Hidden Champions is an initiative that we welcome, and we believe will be a driving force for the sustainable development of African businesses. This networking event was a good introduction to AHC and its goals and initiatives,” Gamal Farid, Orascom Construction Business Development Director, said.

AHC will announce the next cohort of winning Hidden Champion companies in the coming months.

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

Business

Joint statement welcoming the Republic of Togo’s announcement on Visa facilitation for African nationals

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Togo

The AfCFTA Secretariat and Afreximbank commend the Government and people of the Republic of Togo for hosting Biashara Afrika 2026 and for their continued commitment to advancing Africa’s economic integration agenda

LOMÉ, Togo, May 21, 2026/APO Group/ –The AfCFTA Secretariat and African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcome the announcement by the Government of the Republic of Togo, under the leadership of H.E. Faure Essozimna Gnassingbé, President of the Council of the Republic of Togo, regarding measures to facilitate visa-free entry for all nationals of African States holding valid passports, as announced by the Minister of Security on 18 May 2026.

The announcement was made in Lomé on the sidelines of Biashara Afrika 2026, the continent’s premier trade and business platform, which has brought together policymakers, private sector leaders, investors, and stakeholders from across Africa to advance dialogue on intra-African trade, investment, and regional integration.

Throughout the engagements, participants underscored the importance of facilitating the movement of African citizens, entrepreneurs, and investors as an important enabler of intra-African trade and economic cooperation. Against this backdrop, the announcement reflects the growing continental momentum towards strengthening connectivity and deepening African integration.

The AfCFTA Secretariat and Afreximbank, to which Togo is a State Party and a Member State, envision a continent where goods, services, capital, and people move more freely across borders in support of an integrated African market. Measures that facilitate mobility and connectivity continue to contribute towards advancing the broader mandate of both institutions; the attainment of the aspirations of Agenda 2063.

The AfCFTA Secretariat and Afreximbank commend the Government and people of the Republic of Togo for hosting Biashara Afrika 2026 and for their continued commitment to advancing Africa’s economic integration agenda.

Distributed by APO Group on behalf of Afreximbank.

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Morocco: African Development Bank commits €200 Million to boost employability and develop future skills

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Morocco

This results-based financing is designed to strengthen the relevance, quality, and diversity of vocational training through the digitalisation of services, the large-scale rollout of learning systems, and stronger labour market integration mechanisms

RABAT, Morocco, May 21, 2026/APO Group/ –The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved €200 million in financing for the implementation of the “Cap Compétences 2030” programme, aimed at improving employment opportunities for young people and women.

 

This results-based financing is designed to strengthen the relevance, quality, and diversity of vocational training through the digitalisation of services, the large-scale rollout of learning systems, and stronger labour market integration mechanisms.

 

Cap Compétences 2030 is built around three pillars: skills development and strategic partnerships; inclusive training aligned with business needs; and digital transformation, supported by stronger institutional and operational capacity. The programme will also consolidate existing mechanisms while improving both their efficiency and reach.

 

Through the initiative, the African Development Bank seeks to expand access to diversified training opportunities and enhance the professional integration of beneficiaries into the labour market.

Our shared objective is to harness the demographic dividend to support value creation and promote employment, particularly for young people and women

 

Achraf Tarsim, Country Manager of the African Development Bank Group in Morocco, said Cap Compétences 2030 aligns with the priorities of the country’s National Employment Roadmap 2025–2030 and the Bank’s strategic vision under its Four Cardinal Points (https://apo-opa.co/3PDHMHn). “Our shared objective is to harness the demographic dividend to support value creation and promote employment, particularly for young people and women,” he said.

 

The Bank’s intervention is being implemented in close coordination with technical and financial partners to strengthen coherence and complementarity in support of public policy reforms.

 

This programme reflects the Bank’s long-term engagement in Morocco in the areas of human development, employment, and social inclusion. It also builds on a broader portfolio of results-based operations that contribute to structural reforms of the labour market and vocational training system.

 

Since its establishment, the African Development Bank Group has mobilised more than €15 billion across strategic sectors in Morocco, including education, health, employment, infrastructure, energy, and governance.

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

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TotalEnergies Expands Angola Offshore Strategy as Martin Deffontaines Returns to Angola Oil & Gas (AOG) 2026

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TotalEnergies

TotalEnergies is spearheading a diverse investment approach in Angola, targeting frontier opportunities while scaling brownfield production

Martin Deffontaines, Country Manager for Angola at energy major TotalEnergies has been confirmed as a speaker at the Angola Oil & Gas (AOG) Conference and Exhibition – taking place September 9­­–10 with a pre-conference day on September 8. His participation comes at a pivotal time for the company as it expands its offshore strategy and is expected to provide insight into how one of the industry’s leading operators is positioning itself for Angola’s next phase of offshore growth.

TotalEnergies is driving a multi-faceted exploration and production strategy in Angola, balancing brownfield optimization with frontier exploration and large-scale deepwater developments. As one of the country’s biggest oil producers, the company’s recent investments signal a long-term commitment to the market as well as its broader ambitions to support Angola’s goals of sustaining production above one million barrels per day (bpd).

At the core of this strategy is unlocking additional value from producing assets. Just this month, the company signed a Principles Agreement with the National Oil, Gas & Biofuels Agency (ANPG) to extend its license for Block 32 to 2043. The agreement establishes the general terms for the continuous development of the block, while outlining the possible application of the Incremental Production Decree to bolster production. Block 32 is one of the country’s biggest producing assets, covering six fields and featuring the Kaombo project.

Beyond operational assets, TotalEnergies is pursuing new frontiers in Angola. The company signed an agreement in March 2026 with the ANPG and ExxonMobil for the allocation of four blocks in the Benguela and Namibe Basins – namely 40, 41, 42 and 58. The agreement lays the foundation for the signing of the respective contracts for the blocks. This follows another agreement signed in 2025 between TotalEnergies, ExxonMobil and the ANPG for the study and evaluation of the Free Areas of Blocks 17/06 and 32/21 – two of the country’s longest-producing assets. The agreement aims to identify new leads across the blocks, supporting future production growth.

The company’s ongoing project portfolio further highlights the scale of its ambitions in Angola. Central to this is the Kaminho deepwater project – the first major deepwater development in the Kwanza Basin. Representing a $6 billion investment, the project is expected to produce approximately 70,000 bpd through an FPSO designed with lower-emission technologies. FID was reached in 2024, with production on track for 2028. Kaminho builds on TotalEnergies recent project momentum, which saw two offshore projects start operations in 2025. The Begonia and CLOV Phase 3 developments added 60,000 bpd to the company’s Angolan portfolio, cementing its position as a major operator.

Deffontaines’ participation at AOG 2026 comes as these themes move to the forefront of Angola’s oil and gas agenda. As one of the country’s largest international investors, TotalEnergies continues to shape discussions around production sustainability, exploration strategy and offshore project economics. His presence at the event underscores both the scale of the opportunity and the growing international confidence in Angola’s deepwater market.

 

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

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