Connect with us
Anglostratits

Business

Japan and the African Development Bank announce up to $5 billion in support for Africa’s private sector

Published

4 years ago

on

Private Sector Assistance

The announcement was made at the Eighth Tokyo International Conference on African Development (TICAD8) held Sunday 28 August 2022 in the Tunisian capital, Tunis

TUNIS, Tunisia, August 29, 2022/APO Group/ — 

The government of Japan and the African Development Bank (www.AfDB.org) have announced a $5 billion financial cooperation under the fifth phase of the Enhanced Private Sector Assistance for Africa initiative (EPSA) from 2023 to 2025.

The announcement was made at the Eighth Tokyo International Conference on African Development (TICAD8) held Sunday 28 August 2022 in the Tunisian capital, Tunis.

The funds consist of $4 billion under the existing window, and an additional up to $1 billion that will be provided under a new Special Window. Japan will establish this Special Window to support countries that are making progress in the enhancement of debt transparency and sustainability, and other reforms, thereby making steady and significant improvement in their debt situations.

The newly signed initiative will positively impact millions of lives across Africa

Given the importance of food security, Japan and the African Development Bank will add agriculture and nutrition as a priority area under EPSA 5. As a result, EPSA 5 will cover 1) electricity, 2) connectivity 3) health, 4) agriculture and nutrition as priority areas in order to address key challenges in Africa.

At the EPSA 5 launch ceremony, Japan’s Vice-Minister of Finance for International Affairs, Mr. Masato Kanda, said his country is committed to supporting African countries while respecting their own initiatives.

The President of Japan International Cooperation Agency (JICA) Dr. Akihiko TANAKA said, “Under the severe situation caused by multiple crises, enhancing resilience and promoting human security are critical components of Japan’s support for Africa. EPSA is an essential element of our partnership with the African Development Bank to tackle social and economic challenges facing the continent. JICA commits to work with EPSA to create a bright and prosperous future.”

The African Development Bank Group President Dr. Akinwumi Adesina said, “EPSA 5 is the kind of cooperation Africa and the world needs. Escalating climate change impacts, the Covid-19 pandemic, and the war in Ukraine means that we must do even more than we already have done, to mobilize the private sector and create job opportunities in Africa. The newly signed initiative will positively impact millions of lives across Africa.”

Japan and the African Development Bank will join forces to support countries that address enormous challenges, including food security, climate change, health, digitalization, and debt issues.

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

Related Topics:
Continue Reading
Advertisement

Business

Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Export-Import Bank of Pakistan (EXIM Bank of Pakistan) Sign Reinsurance Agreement to Strengthen Pakistan’s Export Sector

Published

18 minutes ago

on

September 1, 2026

By

ICIEC

Through the agreement, ICIEC will provide reinsurance support for eligible export transactions, helping enhance risk-sharing capacity, facilitate access to credit, and enable Pakistani businesses, including SMEs, to pursue opportunities in regional and international markets with greater confidence

 




 

ISLAMABAD, Pakistan, August 31, 2026/APO Group/ –The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (https://ICIEC.IsDB.org/), a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, has signed a Reinsurance Agreement with the Export-Import Bank of Pakistan (EXIM Bank of Pakistan), marking another milestone in the partnership between the two institutions.

This agreement marks an important step in strengthening Pakistan’s export ecosystem

Signed during ICIEC’s mission to Pakistan, the agreement will strengthen Pakistan EXIM’s risk-mitigation capacity and expand its ability to support Pakistani exporters through export credit insurance solutions.

Through the agreement, ICIEC will provide reinsurance support for eligible export transactions, helping enhance risk-sharing capacity, facilitate access to credit, and enable Pakistani businesses, including SMEs, to pursue opportunities in regional and international markets with greater confidence.

Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, said: “This agreement marks an important step in strengthening Pakistan’s export ecosystem. By combining ICIEC’s reinsurance capacity with EXIM Bank of Pakistan’s local expertise, we can expand the protection available to exporters, enhance their access to finance, and help Pakistani businesses, particularly SMEs, compete more confidently in regional and global markets. It also reflects our commitment to working with national export credit institutions to unlock new trade opportunities and support sustainable economic growth across our Member States.”

The agreement further reinforces the long-standing cooperation between ICIEC and Pakistan and reflects the shared commitment of both institutions to expanding the availability of effective risk-mitigation solutions for the country’s exporters. ICIEC looks forward to building on this partnership with EXIM Bank of Pakistan and supporting the continued development of Pakistan’s export sector.

Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

 

 




 

Continue Reading

Business

Afreximbank strengthens regional leadership with new appointments across Africa and the Caribbean

Published

19 minutes ago

on

September 1, 2026

By

These appointments are integral to Afreximbank’s growth ambitions and its efforts to accelerate intra-African trade, industrialisation and regional integration

CAIRO, Egypt, August 31, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has announced senior leadership appointments and confirmations to strengthen regional operations, deepen client engagement, and enhance delivery of the Bank’s mandate across Africa and the Caribbean.
 




 

These appointments are integral to Afreximbank’s growth ambitions and its efforts to accelerate intra-African trade, industrialisation and regional integration. By strengthening leadership across its regional platforms, the Bank is positioning itself to expand market coverage, improve transaction execution and deepen engagement with clients and stakeholders across Africa and the Caribbean.

Mr. Eric Intong Monchu has been appointed as Group Managing Director, Client Relations and Regional Operations, based in Cairo, Egypt, after serving in the role in an acting capacity. In this position, he will lead the Bank’s client relations and regional operations functions, strengthening coordination between business development, client coverage, and transaction execution.

Mr. Kudakwashe Matereke has been appointed Director, Regional Operations, Anglophone West Africa, based in Abuja, Nigeria. Prior to this appointment, he served as the Director, Regional Operations, East Africa. Mr Matereke brings extensive experience in trade finance, business development, and client relationship management, and will lead regional business development, client coverage, and stakeholder engagement.

Each appointee brings valuable experience and deep knowledge of African and Caribbean markets

Mr. Humphrey Nwugo has been appointed Director, Regional Operations, Eastern Africa, based in Kampala, Uganda, following a similar regional operations role in Southern Africa. He brings extensive experience in banking operations, syndications, corporate finance, and regional execution, and will oversee the Bank’s regional operations, market coverage, and client engagement in Eastern Africa.

Mr. Peter Adeshola Olowononi has been appointed Director, Regional Operations, Southern Africa, based in Harare, Zimbabwe. Prior to his appointment, he served as Director, Client Relations, Anglophone West Africa. Mr. Olowononi brings extensive experience in client coverage, transaction origination, and regional business development, and will lead the Bank’s operations and strategic engagement across Southern Africa.

Mr. Roy Reid has been appointed Chief Operating Officer, Caribbean Office, in Bridgetown, Barbados, effective 15 July 2026. Prior to his appointment, he served as Senior Advisor at the Office of the Prime Minister of Jamaica. Mr Reid brings more than 20 years of experience across government advisory, financial services, investment management, fintech, and business development, and will support the Bank’s operations, regional coordination, and stakeholder engagement across the Caribbean.

Collectively, the appointments strengthen the links between client coverage, regional operations and transaction execution. With most of the appointees progressing from within the Bank, they bring strong institutional knowledge, established client relationships and a clear understanding of Afreximbank’s strategic priorities. This continuity will support faster execution, greater responsiveness to market needs, and delivery of the Bank’s growth, trade, and development targets across Africa and the Caribbean.

Speaking on the appointments, Dr George Elombi, President and Chairman of the Board of Directors at Afreximbank, stated: “These appointments highlight the depth of leadership and professional talent within Afreximbank, as well as our commitment to placing experienced executives at the centre of executing the Bank’s development mandate: a mandate to change the structure of African trade. Each appointee brings valuable experience and deep knowledge of African and Caribbean markets. Above all, each shares a strong belief in the Bank’s founding philosophy that Africa’s development destiny lies with Africans and that our collective mission is to restore the dignity of the African.”

The Board of Directors, management and staff of Afreximbank extend their congratulations to Mr Intong Monchu, Mr. Matereke, Mr. Nwugo, Mr. Olowononi and Mr. Reid on their appointments and wish them success in their respective roles.

Distributed by APO Group on behalf of Afreximbank.

 




 

Continue Reading

Events

Airshow China kicks off its 100-day countdown to the 30th Anniversary

Published

24 minutes ago

on

September 1, 2026

By

Airshow

ZHUHAI, CHINA – Media OutReach Newswire – 31 August 2026 – The 100-day Countdown to the 16th China International Aviation & Aerospace Exhibition (Airshow China 2026) was launched on August 28 in Zhuhai, Guangdong. Scheduled for December 7-13 this year, Airshow China 2026 will mark for the official start of its 100-day countdown on August 29.

A commemorative logo marking the 30th anniversary of Airshow China was unveiled at the event. The logo features a three-dimensional, gold-toned “30” as its visual symbol, incorporating tech-inspired aviation and advanced manufacturing elements, complemented by gradient ribbons in blue, purple and magenta. Founded in 1996, Airshow China is celebrating its 30th anniversary this year.
“Over the past three decades,” said Li Xiaodong, Deputy Secretary-General of the People’s Government of Zhuhai Municipality and Deputy Secretary-General of the Zhuhai Executive Committee of Airshow China, in his remarks at the event, “Airshow China has grown increasingly international, professional and market-oriented, establishing itself as one of the world’s premier airshows. In 2026, Airshow China will continue to benchmark itself against world-class exhibitions and contribute to the development of aviation industry clusters.”
 




 

During the World Airshow Dialogue session, aviation industry representatives from home and abroad delved into topics on global industrial-chain coordination, green aviation, the low-altitude economy (also known as advanced air mobility), aircraft engines aftermarket services, and the development of the general aviation industry.

Representatives from peer event organizer International Aviation and Space Salon (MAKS) and major aviation players including Boeing delivered video remarks extending greetings and sharing insights. They voiced anticipation for returning to the upcoming Airshow China with state-of-the-art products and services to foster deeper-going industrial exchanges.

At the subsequent round-table dialogue session, Dai Haibin, spokesperson for AVIC General Aircraft Company, noted that Airshow China has served as an excellent platform for debuting key aircraft and other equipment, among them the AG600 “Kunlong” amphibious aircraft.

Xu Shixin, Chief Operating Officer of Embraer China, observed that the Chinese market boasts huge potential and a well-developed industrial system, unlocking broad opportunities for cooperation in areas such as green aviation and the low-altitude economy. Drawing on its accumulated technological expertise, Embraer stands ready for deeper collaboration on eVTOL (electric vertical takeoff and landing) aircraft development and the building of a low-altitude transportation ecosystem.

At the event, Zhuhai Airshow International Culture Communication Co., Ltd. inked IP merchandise cooperation agreements with Beijing Institute of Technology, Zhuhai; Alipay (Hangzhou) Digital Service Technology Co., Ltd, and Truly HONEST Investment Limited, among other partners. The cooperation covers product development integrating traditional culture with aerospace technology, AI-powered digital commemorative ticket stubs enabled by NFC technology, and derivative products based on sci-fi intellectual properties.

Over its 30-year history, Airshow China has undergone remarkable expansion: from less than 8,000 square meters at its debut in 1996 to 450,000 square meters at its latest edition. The number of participating countries and regions has jumped from 25 to 47, cementing Airshow China’s status as one of the world’s most influential aviation and aerospace exhibitions.
 




 

Continue Reading

Trending