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ITFC and the ICD of the Private Sector sign a Memorandum of Understanding (MOU) with the Kingdom of Morocco

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3 years ago

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ITFC

ITFC intends to provide financing of up to $100 million to support the import of strategic goods and enhance the efforts of Moroccan companies in the export sector

MARRAKECH, Morocco, October 12, 2023/APO Group/ — 

The memorandum aims to provide a general framework that facilitates cooperation between the parties and enhances economic and social development capabilities; ITFC intends to provide financing of up to $100 million to support the import of strategic goods and enhance the efforts of Moroccan companies in the export sector; A $100 million investment will also be made by ICD (http://www.ICD-ps.org) to fund local and cross-border projects, enhancing infrastructure development, manufacturing, financial inclusion, and financial services.

The International Islamic Trade Finance Corporation (ITFC), the Islamic Corporation for the Development of the Private Sector (ICD), members of the Islamic Development Bank Group (IsDB), and the Kingdom of Morocco signed a tripartite Memorandum of Understanding (MoU). The agreement was signed by H.E Ms. Nadia Fattah Al Alaoui, Minister of Economy and Finance of the Kingdom of Morocco, and H.E Eng. Hani Salem Sonbol, CEO of the International Islamic Trade Finance Corporation and Acting CEO of the Islamic Corporation for the Development of the Private Sector. This signing took place during a meeting held between the two parties on the sidelines of the Annual Meetings of the World Bank and the International Monetary Fund held in Marrakech, Kingdom of Morocco.

The MoU aims to facilitate cooperation between all parties in several fields, as it focuses on the importance of the energy sector as a driver of economic and social development

The MoU aims to facilitate cooperation between all parties in several fields, as it focuses on the importance of the energy sector as a driver of economic and social development in the attractive Kingdom. The two institutions intend to support the energy sector by financing state-owned companies and private companies. It also seeks to enhance financing for small and medium-sized companies and transfer expertise on agriculture from Morocco to the countries of the Organization of Islamic Cooperation.

In addition, the two institutions focus on supporting public-private partnership projects, in addition to providing financing in diverse sectors such as manufacturing, services, mining, and infrastructure. This cooperation also seeks to achieve food security and enhance knowledge and financial exchange between the Kingdom of Morocco and the African and Arab member states.

Both institutions also announced the Country Working Program for cooperation with the Kingdom of Morocco, where the country work program of ITFC for the period 2024-2026 covers new financing of up to US$100 million to support imports of strategic goods and enhance the export efforts of Moroccan companies. This includes strengthening relations with strategic partners in Morocco and encouraging Moroccan institutions to participate in ITFC’s projects to promote Moroccan exports in key sectors such as energy and agriculture. The program also includes providing trade financing facilities to state-owned entities, financial institutions and Moroccan companies, in addition to developing trade in cooperation with the Kingdom and supporting the establishment of Moroccan logistics platforms in selected African countries. This comes within the framework of cooperation to transfer Moroccan expertise and knowledge to other countries to enhance human and economic development.

In terms of the Country Working Program of ICD, the institution aims to enhance cooperation with the Kingdom of Morocco in the period from 2024 to 2026. It is worth noting that the institution has made a strategic investment in the shares of the Al Akhdar Bank, in partnership with the Agricultural Credit of Morocco, where the institution owns 49% of Bank shares. ICD also announced that within the new country program it will approve new financing and investments worth US$100 million for the benefit of Moroccan entities in order to implement local and cross-border projects. In addition, the ICD remains ready to assist Morocco in developing its sovereign sukuk programme. The Institution also seeks to enhance financial inclusion, financing small and medium enterprises, and participatory financing in the Kingdom of Morocco. This cooperation will enhance economic development and sustainability in the Kingdom of Morocco and will deepen relations between the Islamic Corporation for the Development of the Private Sector and the Kingdom. 

Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

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Canada–Africa Financing Forum to Convene Investors and Decision-Makers in Cape Town – May 14, 2026

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12 hours ago

on

April 29, 2026

By

Ateau Zola

This timely Forum comes on the heels of commitments announced by Canadian Prime Minister Mark Carney, deepening Canada–Africa commercial ties and expanding investment partnerships

TORONTO, Canada, April 29, 2026/APO Group/ –The Canada–Africa Chamber of Business (https://CanadaAfrica.ca) will convene investors, financiers, policymakers, and industry leaders in Cape Town on May 14, 2026 for the Canada–Africa Financing Forum—a high-level platform focused on unlocking capital and accelerating deal flow across African markets.

Registration is open (http://apo-opa.co/4vZN6oV)

This timely Forum comes on the heels of commitments announced by Canadian Prime Minister Mark Carney, deepening Canada–Africa commercial ties and expanding investment partnerships. The program connects leaders from venture capital, private equity, and institutional investors to examine where capital is moving—and where the next opportunities lie—supported by Canadian project partners with proven capacity to deliver on-the-ground.

Delegates will engage directly with finance and investment decision-makers, following the program opening, featuring messages from President Cyril Ramaphosa and Prime Minister Mark Carney, in addition to high-level Ministerial representation.

This Forum is about capital deployment, not just conversation

“This Forum is about capital deployment, not just conversation,” said Garreth Bloor, President of the Canada–Africa Chamber of Business. “We are convening investors, institutions, and project leaders who are actively shaping transactions across Africa—and connecting them directly with Canadian partners who are ready to work together.”

The Canada–Africa Financing Forum reflects the Chamber’s role as a privately financed, market-led platform advancing Canada-Africa trade and investment through world-class networking and information-sharing events.

Why Attend

  • Direct access to active dealmakers and capital allocators
  • Insights into where capital is being deployed and key players delivering major projects
  • Opportunities to build partnerships across Canada and African markets
  • Participation in a curated, high-level environment focused on execution

Secure Your Place

Space is limited and demand is strong.

Apply to secure your place (http://apo-opa.co/4vXb9oz)

Read More and View the Program (http://apo-opa.co/4vZN6oV)

Distributed by APO Group on behalf of The Canada-Africa Chamber of Business.

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ORUN and 1xBET Partner to Support a Dynamic Creative Africa

Published

18 hours ago

on

April 29, 2026

By

MIR Holding

During the MASA 2026 edition, held from April 11 to 18, 2026, ORUN and 1xBET implemented the We Champion Talent program, an initiative aimed at promoting African talent and advancing the development of Cultural and Creative Industries (CCIs)

ABIDJAN, Ivory Coast, April 28, 2026/APO Group/ –As part of the Innovation Village co-organized with MASA at the Palais de la Culture in Abidjan from April 14 to 18, ORUN (https://ORUN.Africa) announces the rollout of its partnership with 1xBET to support a creative Africa that is structuring itself, professionalizing, and scaling across the continent.

We aim to demonstrate that it is possible to support African talent, narratives, and creative ecosystems over the long term, with ambition and consistency

Designed as a space of convergence between heritage, innovation, and knowledge transmission, the Innovation Village features scenography crafted by Ivorian artisans, a program of panels and masterclasses on creative industries, an immersive experience produced by Orun Studios, and a major institutional highlight on April 17. Its narrative platform is built around three pillars: memory, structure, and transmission. The initiative aims to position cultural and creative industries as an economic driver for the continent.

“The Innovation Village was conceived as an act of construction. By partnering with organizations such as 1xBET, we aim to demonstrate that it is possible to support African talent, narratives, and creative ecosystems over the long term, with ambition and consistency,” said Habyba Thiero, CEO of Africa Currency Network and President of ORUN.

This vision aligns with ORUN’s broader ambition to produce, structure, and internationalize African creative industries through events, content, and strategic partnerships.

Distributed by APO Group on behalf of ORUN, part of African Currency Network (ACN).

 

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MIR Holding Reaffirms Its Commitment to African Creative Industries Alongside ORUN at Marché des Arts du Spectacle Africain d’Abidjan (MASA) 2026

Published

18 hours ago

on

April 29, 2026

By

MIR Holding

More than event support, this partnership reflects a commitment to backing platforms capable of structuring value chains, increasing the visibility of talent, and fostering the emergence of strong African creative infrastructures

ABIDJAN, Ivory Coast, April 28, 2026/APO Group/ –On the occasion of MASA 2026, held from April 11 to 18 in Abidjan, MIR Holding (https://MIRHolding.odoo.com) reaffirmed its commitment to supporting the growth of African creative industries by partnering with ORUN as part of the Innovation Village, hosted at the Palais de la Culture in Abidjan. This presence reflects a clear intention to support the scaling of cultural and creative industries so they can fully contribute to job creation and value generation across the continent.

 

Co-organized by ORUN and MASA, the Innovation Village brought together over several days scenography designed by Ivorian artisans, a program of panels and masterclasses dedicated to creative industries, an immersive experience produced by Orun Studios, and a key institutional highlight on April 17.

At MIR Holding, we believe that Africa’s future will also be shaped by its ability to structure its narratives, its talent, and its creative value chains

Built around three pillars — memory, structure, and transmission — the initiative carried a renewed ambition for culture: positioning it as a concrete lever for economic structuring and African projection.

By supporting this initiative, MIR Holding aligns with a broader dynamic aimed at strengthening connections between creation, entrepreneurship, content, youth, and growth ecosystems. More than event support, this partnership reflects a commitment to backing platforms capable of structuring value chains, increasing the visibility of talent, and fostering the emergence of strong African creative infrastructures. MIR Holding stands among the main partners of the Village, alongside Africa Currency Network and other stakeholders engaged in this vision.

“With ORUN, we are not only seeking to make culture visible. We aim to help provide it with a framework, a reach, and a trajectory. What is at stake here is the continent’s ability to better transform its creative energy into sustainable value, real opportunities, and influence,” said Habyba Thiero, CEO of Africa Currency Network and President of ORUN.

Mouhamed Dieng, President of MIR Holding, added: “Supporting Africa’s creative industries is not about backing a secondary sector. It is about investing in one of the continent’s most powerful spaces for storytelling, youth, innovation, and competitiveness. At MIR Holding, we believe that Africa’s future will also be shaped by its ability to structure its narratives, its talent, and its creative value chains.”

Distributed by APO Group on behalf of MIR Holding.

 

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