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Egypt: African Development Bank approves $131 million to promote private sector development and economic diversification

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African Development Bank

The program supports the Egyptian government’s efforts through a robust public reform matrix to facilitate increased private sector development

ABIDJAN, Ivory Coast, November 27, 2023/APO Group/ — 

Finance

  • Programme name: Private Sector Development and Economic Diversification Support Program – Phase I (PSD-EDSP I)
  • Total amount: US$131 million

Background

Confronted with significant external shocks in the last few years, Egypt has made substantial efforts to mitigate the impacts of the COVID-19 pandemic and Russia’s invasion of Ukraine on the domestic economy and preserve resilience. After addressing these shocks through emergency measures that benefited vulnerable communities, the government firmly committed to implementing appropriate mid- to long-term measures to build a resilient economy through private sector development, economic diversification, and green transition.

The program supports the Egyptian government’s efforts through a robust public reform matrix to facilitate increased private sector development by improving the business environment and diversifying sources of green growth.

Specific objectives of the programme:

  • Contribute to improving the business environment by adding new incentives for private sector investors and reducing delays in obtaining investment licenses.
  • Strengthening the framework for competition and commercial justice.
  • Promoting key productive sectors, including manufacturing and agribusiness.
  • Supporting green transition by allocating the necessary land to renewable energy investments and promoting green hydrogen.

Beneficiaries

  • Direct beneficiaries: Egyptian State, private industries and agri-business operators.
  • Indirect beneficiaries: Local SMEs, especially women-owned businesses.

Expected results

By promoting private sector development and supporting economic diversification and green transition, the PSD-EDSP I will:

  • Boost private investment from 3.3% of GDP in 2021/22 to 4.3% in 2024/25.
  • Reduce the processing time for business licenses from 28 days in 2022 to 10 days in 2025.
  • Increase manufacturing value from 14.2% of GDP in 2021 to 17% in 2025.
  • Increase the area of state-owned lands dedicated to renewable energy investments up to 30,000 square kilometers by 2025.

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

Energy

Staatsolie to Chart Suriname’s Offshore Future at Caribbean Energy Week 2026

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Energy Capital

The national oil company will showcase its role in shaping offshore investment opportunities, recent exploration milestones and initiatives to prepare Suriname’s private sector for the country’s emerging oil and gas boom

PARAMARIBO, Suriname, March 9, 2026/APO Group/ –Suriname’s national oil company Staatsolie is set to highlight the country’s expanding offshore opportunities at the inaugural Caribbean Energy Week (CEW) 2026, taking place March 30 to April 1 in Paramaribo. Offshore Exploration Manager Sharista Kalapnat-Kisoensingh is expected to speak on Staatsolie’s strategic offshore initiatives, alongside sessions on the company’s Enterprise Development Center (EDC), which aims to strengthen the local private sector and prepare Surinamese businesses for participation in the country’s growing oil and gas industry.

Staatsoilie has been at the center of Suriname’s offshore oil boom. The company’s declaration of the Sloanea field as commercial in November 2025 marked a major milestone, highlighting the basin’s growing hydrocarbon potential. Staatsolie’s seismic survey program with TGS and BGP Offshore, launched late last year, is generating critical geological insights across multiple offshore blocks, while new production sharing agreements for Blocks 9 and 10 are attracting further international investment. Together, these initiatives position Staatsolie not just as a producer, but as a strategic enabler – coordinating development, structuring investment opportunities, and shaping Suriname’s broader offshore growth agenda.

Further supporting the sector’s growth, Staatsolie launched an Open-Door Offering in late 2025, making roughly 60% of Suriname’s offshore acreage available under flexible exploration agreements. Alongside its 20% stake in the $10.5 billion GranMorgu development on Block 58 – which is set to generate over $1 billion in local content expenditure – Staatsolie is driving Suriname’s evolution from a modest onshore producer into a globally relevant offshore player with significant investment, production and local economic potential.

At CEW 2026, Staatsolie’s sessions will also highlight the EDC, a flagship initiative to prepare Suriname’s private sector for offshore participation. As GranMorgu and other developments advance toward production, the EDC will ensure that local companies are equipped to capture opportunities arising from exploration, construction, and supply chain activities.

Staatsolie’s upstream operations already account for roughly 9.5% of Suriname’s GDP and 32% of government revenues, figures expected to rise as offshore production ramps up. Kisoensingh’s participation is expected to outline how the company is managing Suriname’s offshore growth, supporting private sector engagement and positioning the country as an emerging hub in regional energy markets.

Join us in shaping the future of Caribbean energy. To participate in this landmark event, please contact sales@energycapitalpower.com.

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

 

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Education

Powering Africa’s Future: THE Africa Universities Summit 2026 to Ignite Innovation, Talent and Inclusion

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Africa Universities Summit

The summit will bring together leaders from universities, business, and civil society for dynamic discussions, hands-on workshops, and visionary keynotes

Highly recommended for anyone eager to engage with cutting-edge ideas and a passionate community

NAIROBI, Kenya, March 9, 2026/APO Group/ –Africa’s youth, representing over 400 million voices, are driving the continent’s ambition for growth, innovation, and sustainable development. The THE Africa Universities Summit 2026 (www.TimesHigherEd-events.com) will convene in Nairobi on 30-31 March to explore how higher education can unlock human capital, fuel entrepreneurial success, and promote inclusive growth across the continent.

 

The summit will bring together leaders from universities, business, and civil society for dynamic discussions, hands-on workshops, and visionary keynotes, focusing on four critical themes:

  • Addressing world challenges: Uniting global and local collaborations to tackle pressing challenges, harnessing research and innovation for sustainable solutions.
  • Innovation, entrepreneurship and start-ups: Empowering entrepreneurial mindsets, strengthening start-up ecosystems and driving digital innovation.
  • Work readiness and skills development: Preparing future-ready graduates through employer partnerships, innovative curricula and tailored support.
  • EDI and gender equality in higher education: Championing inclusion and gender equality to create institutions that reflect Africa’s diverse societies.

The summit will feature over 60+ speakers from across Africa and beyond, including:

  • Chérifa Abdelbaki, UNESCO Chairholder, University of Tlemcen
  • Letlhokwa Mpedi, Principal and Vice-Chancellor, University of Johannesburg
  • Barnabas Nawangwe, Vice-Chancellor, Makerere University
  • Caroline Nyaga, Founder & CEO, Women in STEAM Initiative
  • Tonny Omwansa, CEO, Kenya National Innovation Agency
  • Anicia Peters, CEO, National Commission on Research, Science and Technology

Attendees can expect 30+ hours of content, 9+ hours of networking and opportunities to engage with over 350 participants from more than 150 organisations and universities.

Last year’s summit in Rwanda highlighted the power of collaboration, inspiring actionable strategies for innovation, workforce development and equity in higher education.

Leonard Musyoka, Registrar and Chief-of-Staff at the University of Nairobi, reflected on the 2025 summit: “Attending THE Africa Universities Summit was an intellectually enriching experience! The topics were timely, thought-provoking and expertly curated, sparking meaningful conversations in the African higher education sector. Highly recommended for anyone eager to engage with cutting-edge ideas and a passionate community!”

With less than a month to go, tickets are selling fast. Join us in Nairobi to shape Africa’s higher education future, connect with thought leaders and explore new opportunities to advance talent, innovation and inclusion.

For more information and to register, visit https://apo-opa.co/4biKl8F.

Distributed by APO Group on behalf of Times Higher Education.

 

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Business

Delta Air Lines and Junior Achievement (JA) Africa Empower Next Generation of Female Leaders Across Africa

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Africa

By collaborating with JA Africa, Delta contributes to building a scalable pipeline of confident, skilled young women prepared to lead in their communities and industries

ACCRA, Ghana, March 8, 2026/APO Group/ –Delta Air Lines, in partnership with Junior Achievement (JA) Africa (https://JA-Africa.org), has successfully graduated 61 high-potential African girls from the 2026 LEAD Camp, formally inducting them into the 10 Million African Girls (10MAG) community, a long-term leadership and opportunity platform advancing young women across Africa.

 

Held in Accra from March 2–8 in recognition of this year’s International Women’s Day (IWD) theme “Give to Gain,” the 2026 camp convened 61 participants from Eswatini, Ghana, Nigeria, Mauritius, Rwanda, South Africa, Uganda, and Zambia. The initiative reflects Delta and JA Africa’s longstanding commitment to expanding access to leadership development, economic participation, and cross-border exposure for emerging female leaders.

The LEAD Camp exemplifies Delta Air Lines’ investment in community partnerships that drive educational access and workforce readiness across its international markets. By collaborating with JA Africa, Delta contributes to building a scalable pipeline of confident, skilled young women prepared to lead in their communities and industries.

“Sustainable progress begins with access — access to knowledge, networks, and opportunity. Our partnership with JA Africa transcends traditional training; it establishes a structured pathway that allows young African women to engage meaningfully in the global economy. Inducting this year’s cohort into 10MAG reflects our long-term commitment to expanding opportunity across the continent.” indicated Ed Bastian, Chief Executive Officer of Delta Air Lines.

Our partnership with JA Africa transcends traditional training; it establishes a structured pathway that allows young African women to engage meaningfully in the global economy

Throughout the week, participants engaged in immersive, skills-based learning designed to strengthen executive presence, decision-making, entrepreneurial thinking, and future-ready competencies. The curriculum integrated leadership development, emotional intelligence, financial capability, advocacy, and career pathway exploration through direct engagement with corporate leaders, policy professionals, and industry practitioners.

This approach aligns with global development priorities. According to UNICEF’s Skills4Girls framework, investing in life skills, digital literacy, STEM exposure, and leadership development is critical for preparing adolescent girls to participate fully in evolving labor markets. Research consistently shows that equipping girls with both technical and soft skills improves their transition into higher education, entrepreneurship, and the workforce while optimizing long-term economic resilience.

A highlight of the programme was the “Give to Gain” Social Impact Challenge, where participants worked in cross-country teams to design practical solutions addressing tangible community issues. Finalist teams presented their projects during the graduation ceremony, demonstrating problem-solving, collaboration, and measurable impact thinking, while also highlighting creativity, innovation, and a commitment to driving meaningful change in their communities.

Reflecting on the graduation and induction, Simi Nwogugu, President & CEO of JA Africa, said: “Graduation is just the beginning. LEAD Camp equips young women with leadership capability and strategic exposure, while 10MAG ensures ongoing mentorship, scholarships, and entrepreneurial pathways. By combining these elements, we are cultivating a generation of women prepared to lead in boardrooms, build thriving enterprises, and shape policy across Africa.”

The graduation ceremony marked not an endpoint but a transition. Each participant was inducted into the 10 Million African Girls (10MAG) community, a structured platform that provides ongoing mentorship, scholarships, entrepreneurial incubation, and professional networking. This ensures sustained engagement and positions participants within a broader ecosystem of opportunity and accountability.

Since its inception, the LEAD camp platform has evolved into a pan-African convening point for emerging female leaders. The 2026 edition further reinforced the strategic alignment between Delta Air Lines and JA Africa in delivering structured, measurable leadership development across borders.

As the 61 graduates return to their respective countries, they do so equipped not only with training but with networks, accountability, and a defined pathway to continued growth through 10MAG.

Distributed by APO Group on behalf of Junior Achievement (JA) Africa.

 

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