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Japan Contributes US$1.5M to help Sri Lanka to provide food assistance to people affected by the economic crisis

The Government of Japan today announced a USD 1.5million (LKR 600 million) funding to help the Government of Sri Lanka respond to the ongoing economic crisis.

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Sri Lankan Economic Crisis

Sri Lanka has been severely impacted by a weakening economy which has resulted in shortages of essential items, including food, and a spike in food prices, hindering families’ access to affordable, healthy meals.

COLOMBO – The Government of Japan today announced a USD 1.5million (LKR 600 million) funding to help the Government of Sri Lanka respond to the ongoing economic crisis. The funds will be used by the United Nations World Food Programme (WFP) to provide food assistance to children and families in need of support.

Charge d’ Affaires ad interim of Japan to Sri Lanka Mr. KATSUKI Kotaro said, “We are pleased to announce that the Government of Japan will grant USD 1.5 million emergency assistance through WFP to provide three months’ essential food supplies, including fortified rice, dhal and oil, for approximately 15,000 urban and rural people and 380,000 school children across the island. Japan has been extending vital protein to children through the provision of canned fish made in Japan worth a total of USD 10 million as school meal programmes over the past 10 years. We hope that this humanitarian assistance will help improve food access and nutrition for the people of Sri Lanka amidst the economic crisis.”

Weakening Economy

Sri Lanka has been severely impacted by a weakening economy which has resulted in shortages of essential items, including food, and a spike in food prices, hindering families’ access to affordable, healthy meals. Even before the pandemic, malnutrition rates were high among children and women. Some 40 percent of primary-age children were too thin for their height.

WFP will use the contribution to procure rice for the national school meal programme to ensure children can continue receiving a significant portion of their daily energy and nutrition requirement through the free school meals. It will also enable WFP to distribute ration packs comprising essential commodities to vulnerable households.

“Getting the right nutrition to those who need it the most will help mitigate the long-term effects of today’s economic downturn,” says Abdur Rahim Siddiqui, WFP Representative and Country Director in Sri Lanka. “WFP is very grateful for Japan’s contribution at this critical hour. We thank Japan for its generosity and solidarity with the people of Sri Lanka. WFP will support the Sri Lankan Government with emergency food assistance based on assessments that identify the most pressing needs.”

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Invest Africa and Premier Invest Announce Strategic Partnership to Catalyse Investment in Africa

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This partnership will leverage key events for the global Africa-focused investment community, bringing together investors and corporates who are committed to the continent’s progress

LONDON, United Kingdom, November 13, 2024/APO Group/ — 

Invest Africa (www.InvestAfrica.com), the leading pan-African business platform, is proud to announce a strategic partnership with Premier Invest, a global investment conglomerate, aimed at driving transformative investment into Africa. This collaboration is set to identify and unlock new avenues for growth, innovation, and sustainable development across the continent through a series of targeted engagements, including The Africa Debate in London and the UAE, as well as Invest Africa’s Mining Series, held alongside the annual Mining Indaba conference.

This partnership with Invest Africa marks a significant milestone for Premier Invest as we seek to deepen our engagement in Africa and other emerging markets

As Africa stands on the brink of a new era of economic transformation, this partnership will leverage key events for the global Africa-focused investment community, bringing together investors and corporates who are committed to the continent’s progress and prosperity.

Chantelé Carrington, CEO of Invest Africa, commented on the partnership: ”Africa is entering a pivotal phase of economic transformation, and ensuring that the right investment and expertise are directed to the continent is crucial. Our partnership with Premier Invest is a great step towards this objective. By tapping into our expansive network, strategic communications, and robust events programme, we look forward to working alongside Premier Invest to channel the much-needed investment flows that will drive Africa’s growth.”

Rene Awambeng, Managing Partner of Premier Invest, added: “This partnership with Invest Africa marks a significant milestone for Premier Invest as we seek to deepen our engagement in Africa and other emerging markets. Invest Africa’s unrivalled network and market insights will be invaluable as we work together not only to identify and capture high-growth opportunities but also to contribute meaningfully to the economic development of the regions we serve, particularly across Africa.”

This partnership exemplifies the shared commitment of Invest Africa and Premier Invest to harness the full potential of capital in Africa and beyond. By uniting our strengths, we are laying the groundwork for transformative investments that will fuel economic growth and development for years to come.

Distributed by APO Group on behalf of Invest Africa.

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Africa Investment Forum welcomes Arab Bank for Economic Development in Africa (BADEA) as new partner ahead of the December Market Days in Rabat

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The 2024 Market Days will take place from 4-6 December 2024 in Rabat, Morocco, under the theme: “Leveraging Innovative Partnerships for Scale”

WASHINGTON D.C., United States of America, October 30, 2024/APO Group/ — 

The Arab Bank for Economic Development in Africa (BADEA) has joined the Africa Investment Forum (www.AfricaInvestmentForum.com) as a founding partner, marking a new phase in the Forum’s expansion and influence as a catalyst for mega investments into the continent.

The official announcement came during a breakfast meeting of heads of the Africa Investment Forum Founding Partner institutions, convened by the African Development Bank in Washington, DC on the sidelines of the International Monetary Fund and World Bank’s annual meetings. During the meeting, the partners examined and adopted a new strategic framework to govern the forum. The meeting took place on Friday 25 October.

In welcoming BADEA as a new partner, African Development Bank President Akinwumi Adesina said: “Since 2018, BADEA has been a steadfast supporter of the Africa Investment Forum, consistently contributing to the growth and success of this platform.”

The Arab Bank for Economic Development in Africa is a multilateral development financial institution owned by 18 Arab countries. Its operations cover the entire Sub-Saharan African region.

BADEA group president Dr. Sidi Ould Tah said the main shareholders of his bank had been working on a new mechanism to support investment flows to Africa. The group has sovereign funds under management with assets in the trillions of dollars, of which they had pledged to channel a part for Africa’s infrastructure needs.

BADEA will work with all the member countries of AIF to make this pledge a reality

“The role of BADEA is to catalyse resources for Africa. BADEA will work with all the member countries of AIF to make this pledge a reality,” Tah said.                                 

The addition of BADEA brings the AIF’s founding partners to nine:  the African Development Bank, Afreximbank, Africa Finance Corporation, Africa50, Development Bank of Southern Africa, European Investment Bank, Islamic Development Bank, and Trade and Development Bank.

Heads and representatives of each of the partners who attended the meeting included included Trade and Development Bank President and CEO Admassu Tadesse, Africa Finance Corporation’s CEO  Samaila Zubairu, Africa50  President Alain Ebobissé, European Investment Bank Vice President Ambroise Fayolle,  Hani Salem Sonbol  Chief Executive Officer of the International Islamic Trade Finance Corporation representing Islamic Development Bank President Dr. Muhammad Sulaiman Al Jasser, and Afreximbank’s Director for Export Development Oluranti Doherty, who represented its president.

Adesina also commended the founding partners for their energy, drive and momentum which he described as a testament to their confidence in the Forum.

The AIF’s Market Days events, held annually, have drawn sovereign and non-sovereign investors from around the world, enabling a shift in risk perception and fostering confidence in Africa’s investment landscape.

The platform has actively supported women-led businesses under its Women as Investment Champions pillar with examples such as Mobihealth International Ltd (Healthcare, Nigeria) which was supported to access grant and loan funding for feasibility studies and pan-African expansion.

From the African Development Bank, Senior Vice President Marie Laure Akin-Olugbade, several vice presidents and directors and the Senior Director of Syndications, the Africa Investment Forum and Client Solutions, Max Magor Ndiaye, and the Special Representative of President Adesina, Yacine Fall also attended the meeting.

The 2024 Market Days will take place from 4-6 December 2024 in Rabat, Morocco, under the theme: “Leveraging Innovative Partnerships for Scale.”

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

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British International Investment and Invest Africa to Host Forum on Impactful Investment for Inclusive Growth in South Africa

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The forum will spotlight key areas such as digital infrastructure and affordable housing, while exploring how innovative financial solutions can drive inclusive growth and help South Africa meet its sustainable development goals

JOHANNESBURG, South Africa, October 18, 2024/APO Group/ — 

Invest Africa (www.InvestAfrica.com), in partnership with British International Investment (BII), the UK’s development finance institution and impact investor, is excited to announce the upcoming forum, Impactful Investing for Inclusive Growth, taking place on 23 October 2024 in Johannesburg. This half-day event will focus on driving inclusive development in South Africa, addressing the critical challenges of digital, financial, and spatial inclusion. 

Bringing together key stakeholders, the forum will feature prominent speakers including Andile Ngcaba, Founder and Chairman of Convergence Partners, Hardy Pemhiwa, Group President and CEO of Cassava Technologies, and Carel Kleynhans, CEO of Divercity Urban Property Group. These thought leaders will share insights into how strategic investments can unlock untapped potential within South Africa’s economy. 

BII, a pioneer in impact investing, has been a long-term partner to South Africa, with its first investment dating back to 1995. As the economic landscape evolves, BII remains committed to promoting sustainable development through impactful and inclusive investment. The forum will spotlight key areas such as digital infrastructure and affordable housing, while exploring how innovative financial solutions can drive inclusive growth and help South Africa meet its sustainable development goals. 

Chantelé Carrington, Chief Executive Officer of Invest Africa, commented: “Our partnership with British International Investment is a significant step in driving inclusive growth in South Africa. Together, we aim to empower communities, bridge gaps in access, and drive sustainable development across the country. We look forward to working collaboratively with BII to bring transformative investment to the region at the Impactful Investing for Inclusive Growth event.” 

We are committed to investing our capital to support inclusive and sustainable economic growth, particularly when it comes to offering vital climate finance

Chris Chijiutomi, Managing Director and Head of Africa, British International Investment, added:  

“We are committed to investing our capital to support inclusive and sustainable economic growth, particularly when it comes to offering vital climate finance. I am delighted to join forces with Invest Africa to bring together businesses and investors to unlock South Africa’s economic potential. This will be the first in a series of forums that we will be convening to bring together entrepreneurs and industry leaders to support the government’s agenda to bring about sustainable economic growth and increase innovation.” 

The forum will host two key sessions:  

  • Session 1: Digital and financial Inclusion (08:15 – 09:15) – Exploring the challenges and opportunities for expanding Africa’s digital infrastructure, with a focus on how development finance can support affordable, wide-reaching connectivity across the continent. The panel will also explore innovative solutions to enhance financial inclusion and poverty reduction in underserved communities. 
  • Session 2: Spatial Inclusion (09:30 – 10:30) – Addressing the critical need for investment in affordable housing and township retail. 

The event will gather business leaders, investors, and policymakers for insightful discussions on how impactful investments can drive sustainable and inclusive growth in South Africa.  

For registration or inquiries, please contact George Meadows, Marketing and Events at Invest Africa, at george.meadows@investafrica.com

Distributed by APO Group on behalf of Invest Africa.

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