Connect with us
Anglostratits

Business

ITFC Concludes Successful Participation at the Islamic Development Bank (IsDB) Group Annual Meetings with Nearly US$ 2.6 Billion in Signed Agreements

Published

11 months ago

on

ITFC

ITFC inked trade finance deals and participated in insightful dialogues on economic integration, resilience, and cooperation during the 2025 IsDB Annual Meetings

ALGIERS, Algeria, May 22, 2025/APO Group/ —

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, concluded its participation at the 2025 IsDB Group Annual Meetings in Algiers with a series of impactful achievements that underscore its role as a leading catalyst for trade and economic development in the OIC Member Countries and with the rest of the world. With a total of US$2.6 billion of agreements signed, the Corporation reaffirmed its strong commitment to supporting the socio-economic and development priorities of its member countries. These included sovereign and private sector-focused facilities, new partnerships, and strategic engagements designed to enhance trade resilience, food and energy security, and SME growth.

During the meetings, ITFC signed a landmark five-year framework agreement with the Republic of Senegal with total envelope amount of EUR 2 billion to support key sectors such as energy, agriculture, healthcare, and the development of small and medium-sized enterprises. Another key sovereign financing was announced with the Republic of Guinea, to provide a Murabaha trade finance facility through the Central Bank of Guinea to support the import of petroleum products and essential commodities. ITFC signed a US$100 million Murabaha facility with EBID to facilitate imports of essential commodities for private sector clients across Member Countries. Meanwhile, ITFC also renewed its strategic partnership with Afreximbank through a US$300 million Murabaha financing agreement, aimed at securing food and energy supplies and enhancing intra-African trade flows.

A strong focus was placed on supporting the private sector and expanding Islamic trade finance tools. ITFC signed US$10 million in Mudaraba financing with Uzbekistan’s Smartbank and signed another agreement with Agrobank to increase the total financing amount to US$ 25 million aimed at providing Shariah-compliant financing to the country’s growing private sector. Furthermore, a EUR 20 million Murabaha facility was signed with Albaraka Türk to boost access to finance for SMEs and private sector clients in Turkiye.

Another milestone signing was in favor of Algeria where ITFC signed a US$100 million syndicated LC confirmation facility with Crédit Populaire d’Algérie (CPA) Bank to support trade transactions of both public and private sector clients, with a special emphasis on SME development. Additionally, ITFC inked a EUR 10 million facility with Crédit Communautaire d’Afrique (CCA) Bank in Cameroon, a EUR 10 million facility with Commercial Bank Cameroon, and a US$15 million Murabaha agreement with The Alternative Bank  in Nigeria to support agricultural pre-exports and essential equipment imports.

The meetings with Officials and Stakeholders also provided an opportunity to strengthen regional trade development platforms. A grant agreement under the AfTIAS 2.0 program was signed with the government of Algeria to enhance cross-border trade with Tunisia. These partnerships were complemented by ITFC’s hosting of high-level dialogues during the Private Sector Forum, including a panel on trade facilitation and regional integration and a knowledge-sharing event exploring complementarities in trade and economic diversification across the OIC region.

The successful conclusion of the 2025 Annual Meetings reflects ITFC’s steadfast commitment to delivering integrated trade solutions that are both impactful and inclusive. By signing close to US$2.6 billion in new financing and partnership agreements, ITFC continues to strengthen its interventions that boost supply chains, promote Islamic finance, unlock new opportunities for sustainable development and improve the wellbeing of the people across its member countries.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC)

Home  Facebook

Related Topics:
Continue Reading
Advertisement

Business

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

Published

7 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.

Continue Reading

Business

ORUN and 1xBET Partner to Support a Dynamic Creative Africa

Published

14 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).

 

Continue Reading

Business

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

Published

14 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.

 

Continue Reading

Trending