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Joint Steel Investment with Sonangol in Angola by Tosyalı

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Tosyali

Tosyalı’s affiliate in Angola, Tosyalı Iron & Steel Angola S.A. (“TISA”), will continue its journey more powerfully by adding Sonangol, the oil and gas company of the Republic of Angola, to its partnership structure within the scope of its ongoing investments in Angola

ISTANBUL, Turkey, August 22, 2024/APO Group/ — 

During the visit to Tosyalı Demir Çelik İskenderun Plant by Diamantino Pedro Azevedo, Minister of Mineral Resources, Petroleum and Gas of the Republic of Angola and the accompanying delegation, Tosyalı Iron & Steel Angola (www.TosyaliHolding.com.tr) announced that with this new structure, Tosyalı Iron & Steel Angola plans to further expand the scope of its existing iron ore investment and establish an integrated iron and steel plant.

I wish this new partnership structure that expands the scope of our cooperation in Angola will be beneficial for both countries

Drawing attention with its investments in Türkiye, Algeria, Benghazi, Libya, Senegal, Angola, and Spain, global green steel producer, Tosyalı (www.TosyaliHolding.com.tr), announced that it will further expand its investments in Africa with a new cooperation in Angola.

After the visit of Tosyalı Demir Çelik İskenderun Plant with the delegation, Diamantino Pedro Azevedo, Minister of Mineral Resources, Oil and Gas of the Republic of Angola, Jose Gonçalves Martins Patricio, Angola’s Ambassador to Türkiye, and Sebastiao Gaspar Martins, Chairperson of the Board of Directors of Sonangol, Angola’s Oil and Gas Production Company, another piece of good news came from Tosyalı.

Accordingly, Tosyalı Iron & Steel Angola will make a collaboration with Sonangol, the oil company owned by the Republic of Angola, in order to establish an integrated iron and steel plant in addition to its existing iron ore investment. It is planned to reactivate the iron ore mines in the Kassinga Region and then establish a steel plant at the Sacomar Mining Terminal in Mocamedes, southwest of the capital Luanda. Commenting on the new cooperation, “We were pleased to welcome the Minister and his accompanying delegation at Tosyalı Demir Çelik İskenderun Plant known as the center of green steel in Türkiye,” said Fuat Tosyalı, Chairperson of the Board of Directors of Tosyalı Holding, and added, “On the occasion of this visit, we once again highlighted Tosyalı’s belief in Angola and our strong support for the country’s strategy to shift to non-oil and non-gas sectors, particularly iron and steel and mining. I wish this new partnership structure that expands the scope of our cooperation in Angola will be beneficial for both countries.”

Tosyalı continues its investments in the Kassinga Region, which has the largest iron ore reserves in Angola, for the purpose of operating iron ore mines in the region concerned. The company aims to reach an annual iron ore processing capacity of 10 million tons in phases thanks to this project with 2 billion tons of iron ore reserves. With the new steel plant, which is planned to be completed in 2027, a fully integrated industrial complex that dominates the entire value chain from mine to plant will have been realized. This project aims to pave the way for Angola’s industrial investments in non-oil and non-natural gas sectors and to develop the local economy more widely.

Distributed by APO Group on behalf of Tosyali Holding.

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African Energy Chamber (AEC) Champions Smart Policy, Strategic Partnerships to Advance Namibia’s Oil & Gas Discoveries

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African Energy Chamber

The African Energy Chamber is a strategic partner of the Namibia International Energy Conference, which kicked off today in Windhoek

WINDHOEK, Namibia, April 24, 2025/APO Group/ –As a strategic partner of the Namibia International Energy Conference (NIEC), the African Energy Chamber (AEC) (www.EnergyChamber.org) is calling for a deliberate and accelerated approach to moving Namibia’s recent oil and gas discoveries into production – emphasizing the importance of speed, investor confidence and strategic collaboration.

Speaking during a high-level panel at NIEC 2025, AEC Executive Chairman NJ Ayuk urged Namibia to seize the momentum of its frontier discoveries, while avoiding the pitfalls that have stalled progress in other hydrocarbon-rich African nations. He emphasized that Namibia’s path to becoming a regional energy hub hinges on its ability to learn from international case studies and execute deals that ensure long-term national benefit.

“Namibia needs to move fast, produce quickly and negotiate the best deals with its partners to ensure the rapid development of its oil discoveries,” Ayuk stated. He pointed to Guyana as a prime example, noting how the South American country developed a robust strategy focused on national benefit and successfully attracted billions in investments to fast-track its energy projects.

Namibia needs to move fast, produce quickly and negotiate the best deals with its partners to ensure the rapid development of its oil discoveries

In contrast, Ayuk cautioned against the delays experienced by countries like Mozambique, Tanzania, Uganda and South Africa, where production was significantly postponed, leading to rising project costs and lost opportunities. “There is a growing movement trying to discourage Africa – and Namibia – from producing its oil and gas. We must resist that,” he added.

Reinforcing the need for investor-friendly terms, Justin Cochrane, Africa Upstream Regional Research Director at S&P Global Commodity Insights, highlighted the necessity of contract stability, transparent data-sharing and a balanced approach to fiscal negotiations. “It’s natural that Namibia wants to maximize its benefits, but pushing too hard on IOCs can result in getting 100% of nothing… The first milestone must be achieving first oil,” said Cochrane.

Representing Namibia’s national oil company, Victoria Sibeya, Interim Managing Director of NAMCOR, stressed that the company is actively engaged in every phase of the industry, from data acquisition and exploration to shaping the downstream and midstream vision. “We are not just bystanders,” said Sibeya. “NAMCOR is deeply involved in data acquisition, exploration and the exchange of knowledge and technology with our partners. We are also preparing to invest in downstream and midstream sectors to ensure that we can add value once production begins.”

Echoing the call for local development, Adriano Bastos, Head of Upstream at Galp, underscored the need for early and continuous skills development – proposing that Namibians be trained abroad in specialized areas like FPSO operations to ensure they are prepared to lead once production begins at home. “Namibia has capabilities that are rare in the region, but more collaboration with international partners is essential to build the local skills base,” he said.

Bastos noted that Namibians make up 25% of Galp’s workforce in the country, including its first female offshore base manager. “We are proud of the strides we have made. Our nationalization plans are aggressive, and we work closely with [the Namibian Ports Authority] and other local entities to implement meaningful capacity-building projects.”

As Namibia stands on the cusp of transforming exploration success into production, the message from industry leaders is clear: time, trust and talent will determine the country’s trajectory. Through cross-border collaboration, pragmatic deal-making and a strong national vision, Namibia can emerge not just as an oil producer – but as a continental model for inclusive, forward-thinking energy development.

Distributed by APO Group on behalf of African Energy Chamber

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Adeeb Y. Al Aama Appointed as Chief Executive Officer of the International Islamic Trade Finance Corporation

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Appointment Marks a New Chapter for ITFC’s Mission to Drive Sustainable Trade and Development Across OIC Member Countries

JEDDAH, Saudi Arabia, April 24, 2025/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), the trade finance arm of the Islamic Development Bank (IsDB) Group, is pleased to announce the appointment of Engineer Adeeb Y. Al Aama as Chief Executive Officer (CEO) ITFC, effective April 20, 2025.

It is a great honor to assume leadership of ITFC as we embark on the next chapter of our growth journey

The appointment was approved by the ITFC Board of Directors, following the recommendation of H.E. Dr. Muhammad Al Jasser, Chairman of the ITFC Board and President of the IsDB Group.

Upon his appointment, Eng. Al Aama stated: “It is a great honor to assume leadership of ITFC as we embark on the next chapter of our growth journey. Building on the solid foundations laid over the years, I am committed to advancing ITFC’s mission of empowering our member countries through innovative trade financing and development solutions. Together with the dedication of our talented team and the steadfast support of our partners, I am confident that we will drive greater impact, foster strategic partnerships, and contribute to sustainable and inclusive economic growth across our member countries.” 

Eng. Al Aama brings over three decades of leadership experience spanning international organizations, multinational corporations and government institutions. He has extensive experience in international trade, energy markets, strategic planning, and economics among others. His distinguished career includes serving as Saudi Arabia’s Governor for OPEC and Deputy Minister of Energy for Kingdom Affairs in OPEC and Global Oil Markets, where he played a pivotal role in shaping energy policies and strengthening economic cooperation.

Throughout his distinguished career, he has advised three Saudi Energy Ministers and held executive roles at Saudi Aramco and Saudi Petroleum Overseas Ltd., driving international trade partnerships and strategic initiatives.

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

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Cross Switch Solidifies Market Position with New Payment Licence in South Africa

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The company strives to realise its vision of delivering modern payment solutions that meet the varied needs of merchants and non-profits

CAPE TOWN, South Africa, April 24, 2025/APO Group/ –Cross Switch (www.Cross-Switch.com), a leading provider of innovative payment solutions, has reached a significant milestone by securing its own Third-Party Payment Processor (TPPP) licence.

The TPPP, issued by the Payments Association of South Africa (PASA) and sponsored by Absa, is a regulatory status that strengthens Cross Switch’s position in the payments ecosystem. This achievement complements Cross Switch’s recent certification as a Visa Payment Facilitator (PayFac).

Cross Switch brings a highly flexible payment platform (https://apo-opa.co/3GA0r1Q) to South Africa, enabling business scalability and growth. The company can now independently onboard merchants, fintechs and charities, substantially enhancing its service offering and announcing itself as an essential player in the South African payments landscape.

By obtaining an all-important TPPP licence, Cross Switch has reinforced its commitment to delivering quality, compliant and flexible payment solutions tailored specifically for South Africa’s private and charitable sectors.

Cross Switch’s entry as a licensed provider brings an adaptable API that allows South African merchants to transact seamlessly on the African continent, including in key markets such as South Africa, Kenya, Morocco and Ivory Coast. For merchants looking to expand into Latin America, Cross Switch also offers Argentina, Brazil, Mexico and Chile — with new countries, both in Africa and in other emerging markets, to be announced very soon!

“This is a vital step in expanding our network and strengthening our presence across the continent,” said Mark Chirnside, CEO of Africa, Cross Switch. “By enabling local merchants with multiple payment options, we’re empowering African businesses with the tools to reach broader markets and unlock growth opportunities.”

By enabling local merchants with multiple payment options, we’re empowering African businesses with the tools to reach broader markets and unlock growth opportunities

Cross Switch now enables South African businesses to confidently target rapid expansion and deeper market penetration through frictionless access to local and international payment methods via its flexible API (CS+). The single API empowers merchants to accept payments across Africa and LATAM, and accept the local payment methods.

Cross Switch’s immediate future in South Africa involves accelerating merchant onboarding. Contracts already signed represent a client base exceeding 1,000 merchants in South Africa. To complement over 1,000 merchants already using CS+ on the Continent.

Securing this licensing is a significant step forward in the Cross Switch journey. The company strives to realise its vision of delivering modern payment solutions that meet the varied needs of merchants and non-profits. The company’s highly flexible payment platform drives financial inclusion and business scalability.

The company is also committed to expanding rapidly, enhancing its payment methods, and integrating advanced reconciliation engines — all underpinned by rigorous fraud prevention and risk management systems.

“Investing in South Africa is a strategic priority for Cross Switch,” said Tim Davis, Group CEO of Cross Switch. “We’re resourcing up locally to ensure we’re ready to meet growing demand, and this licence and certification enable us to deliver world-class payment services that are both agile and scalable.”

Cross Switch invites businesses interested in exploring robust and flexible payment solutions to connect directly at https://apo-opa.co/4jrGOrw to learn how its tailored offerings can support and amplify their operational ambitions.

Distributed by APO Group on behalf of Cross Switch

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