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Boosting Access to Finance in Libya: Central Bank of Libya (CBL) Approves a New Legal Framework for Libyan Credit Information Centre

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Central Bank of Libya

The new legal framework for the Libyan Credit Information Centre primarily focuses on centralizing banking loans, enhancing transparency, and providing valuable credit information

TRIPOLI, Libya, January 30, 2024/APO Group/ — 

New opportunities have opened for SMEs in Libya to secure financial support as the Central Bank of Libya (CBL) grants approval to the Libyan Credit Information Centre’s (LCIC) newly developed legal framework. This approval marks a significant milestone in developing the LCIC and increasing transparency, which will ultimately lead to improved access to finance and an enhanced business environment in Libya.

The development of the legal framework was made possible with the support of Expertise France through the E-nable (https://apo-opa.co/3HDQxtv) project, funded by the European Union. The expertise and guidance provided through workshops and training sessions were key to ensuring that the legal framework meets international best practices and addresses the specific needs of the Libyan financial system.

Mr. Nabeil Abujnah, Head of the Libyan Credit Information Centre, said: “We welcome the approval of the new Libyan Credit Information Centre’s legal framework, recognizing its transformative potential and affirming our commitment to work with our international partners towards facilitating equitable financial access and enhancing the financial ecosystem across Libya. “

Mr. Nicola Orlando – EU Ambassador to Libya, commented: “We are delighted to announce that significant milestones were achieved through our collaborative efforts in the development of the Libyan Credit Information Center. It is another important contribution of the European Union to the Libyan efforts to develop a sound and productive business environment for all. The Centre operations are crucial for improving credit risk management and the quality of Libyan banks’ portfolios. Our tailored capacity-building workshops have equipped the Centre’s staff with specific expertise in credit information management, data protection and international standards. And this is a long-term partnership: we will continue building on this important achievement with a new programme further strengthening the Libyan financial sector, in collaboration with the Central Bank of Libya.”

The development of the legal framework was made possible with the support of Expertise France through the E-nable project, funded by the European Union

The new legal framework for the Libyan Credit Information Centre primarily focuses on centralizing banking loans, enhancing transparency, and providing valuable credit information. It’s considered of great importance for several reasons:

  • Legal Compliance: the legal framework is expected to make LCIC operate in full compliance with international best practices.
  • Data Protection and Privacy: The regulatory framework establishes guidelines and standards for the protection of sensitive financial and personal information held by LCIC.
  • Credibility and Trust: The regulatory framework is expected to enhance the credibility and trustworthiness of LCIC.
  • Risk Mitigation: The regulatory framework is expected to help in identifying and managing potential risks associated with credit information.
  • Credit Reporting: The regulatory framework is expected to encourage higher reporting rates by financial institutions and, therefore, the availability of more data.

The endorsement of the legal framework for the Libyan Credit Information Centre marks an important milestone in advancing financial accessibility for SMEs in Libya and improving the business development environment in the country. We are proud and grateful to have partnered with the CBL and supported the development of this framework, which will enhance the flow of credit information and foster a more conducive environment for business growth in Libya, following international standards.” Said Mr. Julien Schmitt – Country Representative and Director of Programs at Expertise France in Libya.

With the legal framework in place, the focus now shifts to developing the LCIC’s operational capacity. Expertise France is collaborating with the Central Bank of Libya to ensure the LCIC has the necessary resources and expertise to enhance its operational efficiency and provide accurate, reliable, and timely credit information, thus contributing to business growth and economic prosperity in Libya.

Distributed by APO Group on behalf of Expertise France.

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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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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