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Investing in Africa: How Mauritius and the Middle East can Partner to Deepen Impact Financing

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Investing in Africa

Coming to Africa, there are definitely massive deal flows on the ground to sustain economic growth in the second-fastest-growing region in the world after Asia

PORT LOUIS, Mauritius, July 29, 2024/APO Group/ — 

Bank One (www.BankOne.mu) gleaned exclusive insight by meeting with the Gulf region’s key financial sector players to understand how Mauritius can form a league with financial institutions in the Middle East to fund impactful projects in sub-Saharan Africa. This is part of the long-term strategy of the bank to expand its footprint and position itself as “Africa’s preferred gateway”.

At Bank One, we were recently privileged to meet with key players from the Gulf region and explore the financial landscape in the Middle East through an expert eye. This has helped the Bank One leadership team form a nuanced view of what this region means to us, and we are keen to impart insights to other banks or financial institutions who would like to explore this region. Indeed, we view collaboration among various financial sector stakeholders as key to realising the potential of the Mauritius-Middle East partnership” says Thavin Audit, Deputy Head of Corporate and Investment Banking at Bank One.

Looking at the way the global macroeconomic environment is maturing, aligned with how Middle Eastern banks are positioning themselves to embrace the African journey, Bank One believes that the time is ripe for Mauritius to explore deeper affiliations with financial institutions in the Middle East to see how we can best leverage opportunities while bringing our conjoined forces to support sub-Saharan Africa.

Looking out: Why the Middle East is moving into the syndication landscape

The region was unique in seeing positive investor sentiment as captured by Preqin (https://apo-opa.co/4cZCfS6). Indeed, Preqin surveys showed 94% of global investors agreeing that the macroeconomic cycle was ‘starting to decline or near the bottom’, a sharp contrast with just 19% of Middle Eastern investors who agreed with this muted economic stance in February 2023. No doubt, this region has a different narrative—one where sentiment is significantly optimistic, capital continues to flow, and a rising number of global investors are knocking on the doors. 

While Middle Eastern banks have traditionally been engaged in offering Sharia-compliant products, the excess liquidity such banks are currently encountering has substantial implications for their involvement in syndication and trade finance deals. Indeed, Emirati banks have lately been beating Wall Street at its own game, with a 10-year US$3.25 billion loan having been syndicated by regional banks (https://apo-opa.co/4fq007A) to finance an impactful education sector deal for Dubai’s GEMS. When a consortium led by Canadian fund manager Brookfield was looking for funding for one of the largest private school operators on the planet, it was four Gulf banks who confidently stepped in to help” adds Thavin Audit.

Why Africa is fertile ground for syndication deals

Coming to Africa, there are definitely massive deal flows on the ground to sustain economic growth in the second-fastest-growing region in the world after Asia. The African Development Bank (AfDB) Group highlighted in its latest Macroeconomic Performance and Outlook of the continent that Africa will account for eleven of the world’s 20 fastest-growing economies in 2024. Indeed, the real GDP growth for the continent is expected to average 3.8% and 4.2% in 2024 and 2025, respectively, far outstripping projected global averages of 2.9% and 3.2%, the report emphasized.

At Bank One, our positioning as a gateway to Africa is primarily enabled by our shareholders’ footprint, with the I&M Group firmly rooted in East Africa. Our investment approach to Africa remains bullish as we invest energy and resources to sustain our edge in the market. Along with other banks in our syndication or our network, we arrange and set up mandates for selected banks, be it in the space of trade loans or factoring deals. We particularly look for syndication partners who are happy to come on-board because of the knowledge we have in, and of, Africa” says Thavin Audit

We particularly look for syndication partners who are happy to come on-board because of the knowledge we have in, and of, Africa

Why the Middle East and Africa need each other

In the Middle East, it is the region’s flourishing financial landscape that holds the key to its appeal for Africa. Apart from the overall positive economic sentiment in the Middle East, it is the world’s fastest-growing regional market in terms of the banking and capital market sectors. A PwC report notes that the ‘region’s financial services sector is in the midst of a massive overhaul’ with increasingly diverse financial products and services, accompanied by growing regulatory requirements for finer monitoring of processes and developing secure financial systems. No wonder then that banks and financial institutions across the Middle East are investing diligently to match or outstrip their international peers, with commercial banks developing apace and offering easy access to banking credit.

At a broader level, reports abound that Gulf banks presently have more liquidity in comparison with many of their foreign peers mainly due to the higher interest rates in Europe and further afield. As such, they face a pressing necessity to match funding to projects and transactions that constitute economic and geographic diversification. However, Emirati banks looking at emerging economies such as those in Africa need to partner with other banks that have the competence, skill, access, and knowledge of the Hopeful Continent.

What are the focus areas for Middle Eastern banks eyeing Africa

When it comes to sectors of focus for Middle East forays into Africa, we note a concentration of deals in the oil and gas, as well as infrastructure sectors.

First, the oil and gas sector in Africa has immense potential, with the continent’s gas reserves in 2021 estimated at 625.6 trillion ft [3] (https://apo-opa.co/3A2tR5A) which is nearly equivalent to that of the US. Significantly, once a major oil or gas discovery is made, the biggest challenge for African governments and their commercial partners is finding sources of finance to develop projects. However, there is a ready domestic market for such output, with the Gas Exporting Countries Forum (https://apo-opa.co/4fq01sa) noting that the demand for energy in Africa is expected to rise 82% by 2050 with natural gas making up 30% of their energy mix.

Secondly, if you look at the pace of infrastructure development on the continent based on rising deals in transport, energy, and telecommunications, there is a huge demand for funding in these areas. The AfDB notes that the demand for adequate infrastructure — secure energy, efficient transport, reliable communication systems, resilient sanitation, and affordable housing — is particularly prominent in Africa. Soberingly, when it comes to infrastructure in Africa, bridging the financing gap is a major challenge, with the AfDB  (https://apo-opa.co/4cZChJI) estimating between US$130 billion and US$170 billion required for infrastructure development each year. This leaves a yawning gap of around US$100 billion (https://apo-opa.co/4fq01IG) and one that Development Finance Institutions (DFIs) alone would struggle to fill.

The way forward: How Mauritius can support the Middle East’s efforts in Africa

In February 2024, the UAE was removed from the grey list after 2 years of being on the FATF’s radar, signifying its commitment to combatting money laundering and terrorist financing. This development is likely to boost investor confidence in the UAE’s regulatory framework, and it is expected that this move will be accompanied by greater foreign capital inflows and reduced compliance costs and costs of borrowing. At Bank One, we welcome this development and have seen Middle Eastern banks confidently looking to channel funding into Africa based on our recent visits to the region.

Finally, in terms of strategic partnerships as well, there are promising talks of key DFIs joining forces with financial institutions in the Middle East. Recently, the AfDB, European Investment Bank (EIB), and the OPEC Fund for International Development (OFID) announced support for the African Capitalization Fund, a new private equity fund to be created by the IFC’s Asset Management Company (AMC). The Fund will seek to capitalize on systemically important private sector commercial banking institutions in Africa to spur economic recovery and job creation. Hearteningly, the Abu Dhabi Fund for Development (ADFD) also announced that a commitment to the fund is under due consideration.

Last but not least, systemic efforts are being made to stimulate investments from the Middle East to Africa. With a Comprehensive Economic Partnership Agreement being signed between Mauritius and Dubai which was announced in December 2023 as the first of its kind between the Emirates and an African country, Bank One is keen in exploring the full potential of such a landmark agreement. It was widely reported at the time that this agreement will pave the way for increased trade, investment, and private-sector cooperation between the countries, and we would like to explore with the right partnerships how such economic cooperation can be realized on the ground – with a focused eye onto Africa.

Distributed by APO Group on behalf of Bank One Limited.

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Congo Is Turning Reserves into Bankable Projects – and the Investment Window Is Opening

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Eni-led LNG expansion and ongoing deepwater investment are pushing the Republic of Congo’s energy sector toward more bankable projects ahead of the Congo Energy & Investment Forum 2027

BRAZZAVILLE, Congo (Republic of the), June 23, 2026/APO Group/ –With LNG exports set to triple to 3 mtpa, upstream oil production targeting 500,000 bpd and a renewed push on local content, the Republic of Congo is positioning itself as one of Central Africa’s most investable hydrocarbon markets. Under the leadership of the newly-appointed Minister of Hydrocarbons, Stev Simplice Onanga, the country is prioritizing industry growth by balancing local content with reserve replacement and project advancement.

 

What sets Congo apart is not the scale of its reserves, but the pace at which those reserves are being turned into commercially viable projects. From Eni’s LNG expansion and TotalEnergies’ deepwater developments to brownfield optimization by Trident Energy and output growth at Ammat Global Resources, capital is flowing into projects with clearer monetization pathways and nearer-term returns.

Ahead of the Congo Energy & Investment Forum (CEIF) 2027 – the country’s leading platform for energy investment and partnerships – the story is shifting away from frontier potential toward bankable projects already under development.

Policy Reform Is De-Risking Investment

Congo’s investment case is being reshaped by the alignment of resource base, regulatory reform and project delivery. Established oil production, expanding LNG capacity and fiscal adjustments are gradually reducing above-ground risk.

Recent reforms led by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo have added structure to the sector. The Gas Code, introduced in October 2025, formalizes fiscal terms for gas commercialization, while the Gas Master Plan prioritizes flaring reduction and gas-to-power deployment, targeting 1,500 MW by 2030.

A new upstream licensing round is also under consideration, aimed at attracting fresh capital into both mature and frontier acreage. Together, these measures are improving visibility across upstream, midstream and downstream segments, with recent project activity reinforcing the shift.

The Projects Driving the Next Cycle

Deepwater oil remains central to Congo’s production outlook, with operators progressing both new developments and brownfield optimization. TotalEnergies is advancing work at the Moho licence following the April 2026 Moho G discovery, backed by a $500–$600 million infill drilling program targeting about 40,000 bpd in incremental output.

Local independent Ammat Global Resources is targeting 70% production growth from its Loango and Zatchi fields, where reactivated wells and upgraded platforms have already lifted output by 75%. Perenco continues steady gains, adding roughly 6,000 bpd through its 2025–2026 drilling program.

Trident Energy, after acquiring an 85% working interest in the Nkossa and Nsoko II assets in 2025, is focused on extending field life through subsea optimization and redevelopment work.

While oil continues to anchor revenues, gas is rapidly emerging as Congo’s fastest-growing segment. Eni’s Congo LNG project delivered its first cargo from Phase 2 in February 2026, following the startup of the Nguya FLNG unit in December 2025. Together with Tango FLNG, capacity has risen from 0.6 mtpa to 3 mtpa. Trident Energy has also proposed an FLNG project aimed at adding further capacity across the country’s gas market. The project is expected to operate as shared infrastructure, allowing multiple operators to process gas from their respective fields. This creates an outlet for associated gas that might otherwise be stranded, supporting the country’s broader diversification goals.

Local Content Is Reshaping Investment Terms

Beyond upstream policy, Minister Onanga has positioned local content as a central pillar of Congo’s investment framework, and a key determinant of how capital is structured and deployed.

Decrees 2019-342, 343, 344 and 345 set requirements around subcontracting, workforce localization and training commitments, with the effect being a gradual shift in how projects are structured and how partnerships are formed. Operators are increasingly assessed not only on technical delivery but on in-country value creation, including partnerships with local firms and skills development. Logistics, maintenance and other service areas are increasingly channeled through domestic providers.

At CEIF 2027 – taking place June 1–3 in Brazzaville – attention will shift to what is moving forward and to the investors positioned to take part in that pipeline. Congo’s energy sector is no longer defined by potential alone: projects are moving, capital is being committed and policy is starting to catch up with activity on the ground.

As the Republic of Congo moves from reserves to revenue, the signal to investors is clear: this is already unfolding, not a future opportunity.

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

 

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Afreximbank secures double honours at the 2026 International Association of Business Communicators (IABC) Gold Quill Awards for excellence in strategic communications

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The Award of Excellence for IATF2025 recognises the successful communications and stakeholder engagement programme delivered around the fourth edition of the Intra-African Trade Fair, Africa’s premier trade and investment event

CAIRO, Egypt, June 23, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has been recognised with two prestigious honours at the 2026 International Association of Business Communicators (IABC) Gold Quill Awards, one of the world’s most prestigious awards programmes for strategic communications.

 

The Bank received an Award of Excellence in Special and Experiential Events category for the Intra-African Trade Fair 2025 (IATF2025) held in Algiers, Algeria and an Award of Merit in the Social Media category for its Afreximbank Social Media Campaigns, reaffirming Afreximbank’s commitment to delivering impactful communications that advance its mandate of promoting trade, investment and industrialisation across Africa and the Caribbean.

We are delighted to receive these two awards, which attest to the expertise, creativity and efficiency of Afreximbank’s communication

The Award of Excellence for IATF2025 recognises the successful communications and stakeholder engagement programme delivered around the fourth edition of the Intra-African Trade Fair, Africa’s premier trade and investment event. IATF2025 brought together governments, businesses, investors, buyers, sellers and entrepreneurs from across Africa and beyond, creating a platform for trade and investment opportunities while advancing the objectives of the African Continental Free Trade Area (AfCFTA). The communications campaign played a pivotal role in driving global awareness, stakeholder participation, media visibility and engagement before, during and after the event, while showcasing the scale, ambition and dynamism of African enterprise and reinforcing a positive narrative about Africa’s capacity to trade, industrialise and compete on the global stage. Over 120,000 delegates attended IATF2025 in person and virtually, with deals worth over US$50 billion recorded.

The Award of Merit for Afreximbank Social Media Campaigns recognises the Bank’s strategic use of digital platforms to engage stakeholders, amplify its developmental impact and elevate conversations around trade, industrialisation, economic integration and investment opportunities across Africa and the Caribbean. Through a combination of compelling storytelling, thought leadership content, executive advocacy, multimedia production and real-time event coverage, Afreximbank’s social media platforms have continued to expand their reach and influence among policymakers, businesses, investors, development partners and the wider public. Among these platforms is the Afreximbank TV, a digital TV channel that is wholly owned and managed by Afreximbank, whose fifth edition was celebrated with dedicated coverage of IATF2025, providing live coverage of the activities to both pan African and global audiences.

Anne Ezeh, Director & Global Head, Communications and Events at Afreximbank commented: “We are delighted to receive these two awards, which attest to the expertise, creativity and efficiency of Afreximbank’s communications. As a pan African multilateral financial institution, we see storytelling as a powerful tool for advancing our mission — ensuring our initiatives, events, programmes and key announcements not only inform, but also inspire confidence, deepen engagement and amplify Africa’s transformation. These awards reinforce our resolve to continue delivering world-class communications that elevate African voices and projects a bold and authoritative narrative of the continent.”

Ms. Ezeh added that through innovative storytelling, digital engagement and integrated campaigns, the Bank will continue to amplify the impact of its programmes and partnerships  to project a more authentic narrative of Africa, one defined by opportunity, innovation, resilience and growing influence in the global economy.

For more than five decades, the IABC Gold Quill Awards have recognised excellence in strategic communications globally, celebrating programmes and campaigns that demonstrate measurable impact, innovation, creativity and outstanding execution. Widely regarded as the pinnacle of achievement in the communications profession, the awards are judged through a rigorous and independent evaluation process conducted by experienced communication leaders from around the world.

Distributed by APO Group on behalf of Afreximbank.

 

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Islamic Development Bank (IsDB) Institute Unveils 2025 Annual Report During Group Annual Meetings in Baku

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In 2025, IsDBI significantly expanded its footprint in Islamic finance transformation, approving 25 new technical assistance projects valued at US$4.14 million and completing 19 projects worth US$3 million

The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) has released its 2025 Annual Report during the 2026 IsDB Group Annual Meetings held in Baku, Azerbaijan, showcasing a year of expanded impact in Islamic finance transformation, innovative solutions, and capacity development.

 

The report highlights how IsDBI strengthened its role as a global knowledge leader by advancing innovative solutions and scaling support to Member Countries through knowledge-based interventions, Islamic finance grants, and strategic partnerships.

In 2025, IsDBI significantly expanded its footprint in Islamic finance transformation, approving 25 new technical assistance projects valued at US$4.14 million and completing 19 projects worth US$3 million, supporting countries in strengthening regulatory frameworks and promoting inclusive financial systems.

Since 2013, the Institute’s interventions in this regard have reached over US$27.57 million across 181 projects benefiting more than 34 countries, underlining its sustained contribution to development outcomes across the Islamic world.

I am pleased to note that the Institute has continued to strengthen its unique role in the global development ecosystem

The Annual Report highlights major progress in IsDBI’s three flagship transformative projects, namely Awqāf Free Zones, Digital Postal Islamic Financial Services, and Smart Countertrade System, which have all advanced to pilot-ready stages. These initiatives aim to address global challenges such as financial inclusion, food and energy security, and trade resilience.

Furthermore, the Institute accelerated its focus on digital innovation in Islamic finance, enhancing its Islamic Finance Artificial Intelligence Assistant (IFAA) and hosting its first AI Hackathon on Islamic Finance, engaging more than 40 teams in developing cutting-edge solutions aligned with industry standards.

Human capital development in Islamic finance also remained a cornerstone of IsDBI’s work in 2025, with the delivery of over 20 training programs reaching around 500 professionals across Member Countries. A key achievement in this area was the Entrepreneurial Mindset Development Program, a flagship initiative equipping emerging leaders from 20 countries with innovation-driven and values-based entrepreneurship skills. The program was designed and implemented in collaboration with Prince Mohammed Bin Salman College of Business and Entrepreneurship, Saudi Arabia.

The Institute also strengthened its thought leadership through flagship publications, global partnerships, and digital engagement, reinforcing its position as a leading voice in Islamic economics and finance.

Commenting on the issuance of the Annual Report, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said: “I am pleased to note that the Institute has continued to strengthen its unique role in the global development ecosystem by bridging knowledge creation, building human capital, and designing innovative solutions to address economic challenges.”

The 2025 Annual Report is accessible on IsDBI website here (https://isdbinstitute.org/product/isdbi-annual-report-2025/).

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

 

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