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European Union (EU)-funded Project EU4PSL for Private Sector Development in Libya Presents Results

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3 years ago

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EU4PSL

An online portal to simplify the establishment of businesses, step-by-step guides for new entrepreneurs, business acceleration programmes and start-up grants for 90 young Libyan entrepreneurs, and a new link between the private sector and Libyan universities are among EU4PSL’s most important achievements since 2019. “E-NABLE”, a €5 million EU-funded follow-up programme, will continue to support private sector diversification, digitalization and financial solutions for businesses in Libya

TRIPOLI, Libya, December 8, 2022/APO Group/ — 

The European Union’s (bit.ly/3uCHRgC) EU4PSL project in support of private sector development in Libya presented its results in Tripoli. Over the past three years, the project contributed to a better business environment, and new job opportunities across Libya, in particular for the youth and women. In a closing ceremony in Tripoli, the EU and its EU4PSL implementing partner Expertise France (ExpertiseFrance.fr), presented key results to key stakeholders and beneficiaries.

“Today, we celebrate the conclusion of the European program to support the private sector in Libya, and we all know that Libya has progressed towards economic development through its private sector. I thank the European Union Delegation, Expertise France and the Libyan experts in all sectors for their contribution to reaching the program’s goals. I stress the keenness and desire of the Ministry of Economy and Trade to continue working together for economic recovery, diversification and the development of Libyan competencies,” said Mohammed Al-Huweij, Minister of Economy and Trade in Libya.

“The private sector is a crucial driver for innovation, new jobs and economic growth in Libya. This is why it is important to create an enabling business environment, encourage entrepreneurship and ensure favourable conditions for innovation, investment and trade. In Libya, the private sector needs new skills, instruments and opportunities to turn ideas into successful business ventures. With EU4PSL we were able to create new platforms to simplify access to economic institutions and to boost start-ups and young entrepreneurs,” said Francesca Cuccia, Programme Manager at the EU Delegation to Libya. “The EU will continue its support to Libya’s private sector also in the future.”

“EU4PSL, is for us a flagship project that shows the relevance of supporting the development of the private sector in Libya. All the great achievements underline the full engagement of all the implicated Libyan stakeholders participating to a more efficient and supportive business environment, key for the private sector harmonious development” said Julien Schmitt, Country representative and programs director at Expertise France in Libya. “On behalf of Expertise France, we are very honoured for the trust of our national and international partners and we want to reaffirm once again our commitment to continue to support the economic development of Libya.”

Better institutional services and easy access to support for businesses

EU4PSL worked with the Ministry of Economy and Trade, chambers of commerce and other economic institutions to help create a supportive business environment in Libya.

A new online portal called eJraat (ejraat.gov.ly) simplifies business creation procedures and provides a step-by-step guide to administrative procedures and was launched in partnership with the United Nations Conference on Trade and Development (UNCTAD) (UNCTAD.org). The involved stakeholders are now taking it a step further by working with the General Commercial Registry on creating a single online window for business registration and other business services.

In partnership with the International Trade Centre (ITC), (InTraCen.org) Libya was integrated in the Euromed Trade Help Desk (bit.ly/3iPCc4d) portal for facilitating trade and investment in the EU and the Mediterranean region.

EU4PSL worked with the Chambers of Commerce and General Union of Chambers of Commerce to develop their advisory and advocacy functions. A large national survey (bit.ly/3FziC4S) identified the profiles and needs of Libyan enterprises in terms of business knowledge and support services, along with operational recommendations to help the government and international donors better shape their economic support to Libya.

The first Chambers of Commerce White Book lists the top common reform priorities identified by Libyan enterprises owners and managers with concrete proposals for improvement.

With EU4PSL we were able to create new platforms to simplify access to economic institutions and to boost start-ups and young entrepreneurs

Economic empowerment of women and youth

In partnership with local CSOs, EU4PSL held three national women entrepreneurs contests in which €120,000 of grants were disbursed to 36 winners; more than 90 jobs were created as a result of the development of the winning businesses.

The involved CSOs have also teamed up with universities to organise entrepreneurship training boot camps that were delivered to 360 of their students. Top innovative ideas were then selected to participate in 3 national student contests receiving significant financial awards from local sponsors.

A 6-month business acceleration program called Boost it mentored 19 emerging start-ups from 6 different Libyan cities. The participating start-ups received €153,000 in financial support. 84.6 % of them reported an increase in their revenue.

Improved access to finance for MSMEs and start-ups

EU4PSL worked with the Central Bank of Libya and several other financial institutions to support Libyan MSMEs to access finance.

With the support of the leading financial institution Adie France (Adie.org), two microfinance circulars were published by the Central Bank of Libya demanding banks to dedicate 10% of their portfolio to SMEs and adapt their services to meet the needs of micro and small enterprises, thus creating new fund-raising vehicles for business owners.

Six units dedicated to SMEs support were established within Libyan banks and Tadawul Group (bit.ly/3W1CoeR) supported to establish a Venture Capital fund to provide means of financing and investment for the start-up eco-system in Libya.

Entrepreneurship streamlined within education curricula

EU4PSL, together with Lyon 3 university (bit.ly/3Y4Dmc2), developed an accredited entrepreneurship module that is now being taught at 9 Libyan universities. The delivery of this module was made possible by training and coaching 44 professors across the country with the support of the South Mediterranean University (SMU) (SMU.tn) in Tunis.

Entrepreneurship and Innovation units were also created within 11 universities. The staff of these units were coached on how to run practical incubation programmes to support undergraduate students to upgrade their skills and begin their careers.
Eight Junior initiatives (Juniorenterprises.org) were created inside partner universities promoting entrepreneurial skills among students and closing the gap between their academic studies and the labour market.

EU4PSL has also initiated work with the Ministry of Higher Education and Scientific Research on a national roadmap for supporting entrepreneurship within higher educational institutions and bridging the gap between graduates and the labour market in collaboration with the Mediterranean Universities Union (UNIMED) (UNI-MED.net).

After the successful completion of the EU4PSL (2019-2022) and its preceding project, SLEISDE (2016 -2020), the European Union will continue to support private sector and economic development in Libya through the E-NABLE (E-NABLE.ly) project (2022-2025), implemented by Expertise France. E-NABLE will focus on economic diversity, sustainability, and digital governance in Libya.

Distributed by APO Group on behalf of Expertise France.

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Afreximbank Posts Robust Q1 2026 Results with 25% Growth in Net Income and Improved Profitability

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2 days ago

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May 22, 2026

By

Afreximbank

The results demonstrate continued resilience, disciplined balance sheet management and strong deal execution despite a challenging global operating environment

The growth in net interest income and profitability demonstrates the strength of our operating model and the continued relevance of our mandate

CAIRO, Egypt, May 22, 2026/APO Group/ –African Export-Import Bank (“Afreximbank” or the “Bank”) (www.Afreximbank.com) and its subsidiaries (the “Group”) announced its results for the three months ended 31 March 2026. The results demonstrate continued resilience, disciplined balance sheet management and strong deal execution despite a challenging global operating environment.

 

The Group continued to expand its lending activities in Q1 2026, resulting in total credit exposure growing by 2% to reach a portfolio of US$42 billion, up from US$41 billion as of 31 December 2025. This performance reflects Afreximbank’s leading role as a Development Finance Institution (DFI) in financing trade and trade-enabling infrastructure, and its strategic contribution to economic resilience across Africa and the Caribbean.

Average loans and advances for Q1 2026 stood at US$32 billion, up 8% compared to the same period in the prior year, driving the recorded growth in interest income. The Group’s liquidity position remained strong, with cash and cash equivalents of US$5.6 billion, representing 14% of total assets, consistent with FY2025 and above the Bank’s strategic minimum.

Asset quality also remained strong, with the non-performing loan (NPL) ratio at 2.40%, broadly in line with 2.43% at FY2025 and below industry average.

Shareholders’ funds increased to US$8.6 billion at 31 March 2026, up from US$8.4 billion at FY2025, supported by internally generated capital of US$268.9 million and new equity investments received during the quarter, underscoring the Bank’s continued ability to mobilise capital from its shareholders in support of its growth and development mandate.

The Group delivered strong profitability during the quarter.  Notwithstanding declining benchmark rates, total interest income rose by 14% year-on-year to reach US$813.6 million, while net interest income increased by 24% to US$510.0 million, compared with US$411.2 million in the first quarter of 2025. The Group’s cost-to-income ratio remained contained at 19%, well within the Group’s strategic ceiling of 30%. As a result, Profit for the period increased to US$268.9 million, up from US$215.4 million in Q1 2025.

The Group continued to maintain a strong capital position, with a capital adequacy ratio of 23% as at 31 March 2026, in line with the Bank’s long-term capital management targets.

During the quarter, Afreximbank continued to demonstrate its counter-cyclical role in response to external shocks. In March 2026, the Bank launched a US$10 billion Gulf Crisis Response Programme to help member countries mitigate adverse spillover effects from the Gulf crisis. The facility is designed to support liquidity, stabilise trade and payments, and address supply-side disruptions, particularly in energy, tourism and aviation, fertilisers, food and other critical imports.

The Bank also continued to deploy targeted financing and advisory support to strengthen trade flows, industrial capacity and economic resilience across Africa and CARICOM. Regional integration received further momentum following South Africa’s ratification of the Bank’s Establishment Agreement in February 2026, bringing one of Africa’s largest and most diversified economies into the Bank’s membership and giving the Bank full continental coverage.

Highlights of the results for Afreximbank Group are shown below:

Financial Performance Metrics

Q1’2026

Q1’2025
Gross Income (US$ million)

874.1

784.9
Net Income (US$ million)

268.9

215.4
Return on average equity (ROAE)

13%

12%
Return on average assets (ROAA)

2.62%

2.38%
Cost-to-income ratio

19%

16%

 

Financial Position Metrics

Q1’2026

FY’2025
Total Assets (US$ billion)

41.7

42.3
Total Liabilities (US$ billion)

33.0

33.9
Shareholders’ Funds (US$ billion)

8.6

8.4
Non-performing loans ratio (NPL)

2.40%

2.43%
Cash/Total assets

14%

14%
Capital Adequacy ratio (Basel II)

23%

          23%

 

Mr. Denys Denya, Afreximbank’s Senior Executive Vice President, commented:

“Against a backdrop of continued global uncertainty, heightened geopolitical risks and tight financial conditions, the Group delivered a resilient first-quarter performance, underpinned by disciplined balance sheet management, sound asset quality and strong capital and liquidity buffers. The growth in net interest income and profitability demonstrates the strength of our operating model and the continued relevance of our mandate. Our swift launch of the US$10 billion Gulf Crisis Response Programme further underscores Afreximbank’s counter-cyclical role in supporting member countries during periods of disruption. We remain focused on stabilising trade flows, easing liquidity pressures and advancing the industrial and economic transformation of Africa and the Caribbean.”

Distributed by APO Group on behalf of Afreximbank.

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Via Licensing Alliance Expands Voice Codec Program with New Licensee, New Licensors, Publishes Comprehensive Pool Rate Structure

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2 days ago

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May 22, 2026

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Via Licensing Alliance

SAN FRANCISCO, CALIFORNIA, UNITED STATES – Media OutReach Newswire – 22 May 2026 – Via Licensing Alliance (Via) today announced continued momentum for its Voice Codec patent pool, including the addition of a new unnamed licensee and new licensors, NovaVoice Limited and Cordial IP, further growing the program’s patent stack and market penetration from its initial five, large global licensors.

The addition of the new licensee, unnamed at this time, reflects growing industry adoption of the collaborative licensing pathway Via’s Voice Codec program creates for accessing IP rights to critical voice technologies. This addition reflects a growing market uptake of advanced voice technologies, including EVS and IVAS, driven by rising demand as 5G and 5G-Advanced technologies are adopted worldwide.

Additionally, Via continues to prioritize transparency and has published its full rate structure for the Voice Codec pool, providing further clarity and predictability for implementers and to the broader market. For implementers, the full rate structure allows for complete visibility as they consider the appropriate royalty structure to choose from to meet their product level costs, evaluate future growth paths for their product lines, or plan their geographical expansion plan needs. This level of disclosure not only reduces uncertainty in licensing decisions but also enables more consistent benchmarking, reinforcing confidence in fair, market-aligned SEP licensing practices. The program’s royalty rates are listed on Via’s website at https://www.via-la.com/licensing-programs/voice-codec/#license-fees.

The addition of the new licensors indicates increased interest from patent holders in licensing their voice technology SEPs through highly efficient, aggregated licensing vehicles such as patent pools. Future growth in both the licensor list and the number of patents consolidated through the pool license will continue to enhance the value of the Voice Codec License for implementers. Via’s Voice Codec program licensors are listed here: https://www.via-la.com/licensing-programs/voice-codec/#licensors.

Via’s Voice Codec pool covers Enhanced Voice Services (EVS), which supports voice communications across more than one billion and growing active devices globally, as well as Immersive Voice and Audio Services (IVAS), which will play a central role in next-generation voice and spatial audio applications.

“We are pleased to welcome these new entrants to our pool, which signal continued growth and momentum our Voice Codec program,” said Kevin Mack, President of Via Licensing Alliance. “This pool license offers strong value relative to other market options and represents the only collaborative licensing solution for EVS and IVAS technologies, making it a smart and efficient pathway for companies seeking to license critical voice capabilities.”

EVS remains a foundational technology for high-quality voice communications in 5G and 5G-Advanced networks, with adoption continuing to expand as 5G, 5G-Advanced and future network iterations reach global scale. As spatial audio and advanced voice technologies expand into 6G and a broader range of non-cellular devices, the importance of IVAS technologies is expected to increase, with Via’s pool offering an early and effective licensing pathway.

For more information about the Voice Codec patent pool, including information for prospective licensees, please visit https://www.via-la.com.

About Via Licensing Alliance:
Via Licensing Alliance is the collaborative licensing leader, dedicated to accelerating global technology adoption, fostering participation, and generating return on innovation with balanced licensing solutions for innovators and manufacturers of all sizes around the globe. Via has operated dozens of licensing programs for a variety of technologies. Via is an independently managed company owned by industry-leading participants with over 25 years of intellectual property licensing leadership. For more information about Via, please visit https://www.via-la.com.

 

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

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2 days ago

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May 22, 2026

By

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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