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Letshego Microfinance Bank Nigeria named Affirmative Finance Action for Women in Africa initiative

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Letshego Microfinance Bank

The Leshego Microfinance Bank Nigeria, also known as Letshego MFB Nigeria, received the award named after the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) programme

SHARM EL-SHEIKH, Egypt, May 27, 2023/APO Group/ — 

A Lagos-based microfinance loan solutions company that disbursed more than half of its loans to women-led micro and small enterprises last year, has been named the “Affirmative Finance Action for Women in Africa (AFAWA) Bank of the Year” at the African Business Awards ceremony.

The annual ceremony celebrating excellence in the continent’s banking sector, took place on Wednesday 24 May during the African Development Bank Group’s Annual Meetings in Sharm El-Sheikh, Egypt.

The Leshego Microfinance Bank Nigeria, also known as Letshego MFB Nigeria, received the award named after the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) programme.

AFAWA seeks to close the estimated $42 billion finance gap for women-owned small and medium-sized enterprises (SMEs) by unlocking up to $5 billion of financing for over 30,000 women business owners in Africa.

“We are delighted because our purpose is to Improve Lives of our customers by creating financial access and accelerating financial inclusion by providing creative funding for micro and small entrepreneurs in the region. [Being named AFAWA Bank of the Year] will enhance our brand positioning and increase trust and our reputation with women-led businesses,” said Richard Tyotule, Head of Sales and Distribution at Letshego MFB Nigeria.

In partnership with the African Guarantee Fund and the African Development Bank, the AFAWA Bank of the Year Award honours banks advancing financial inclusion of women across the continent.

Letshego MFB Nigeria is part of the Guarantee for Growth programme, administered by AFAWA and its partner, the African Guarantee Fund. Amongst other activities, the programme de-risks women portfolios of partner financial institutions, and incentivises financial institutions playing a greater role in supporting private-sector growth through women entrepreneurs. 

Participation in the program has increased Letshego MFB Nigeria’s appetite to do business with women-led businesses, Tyotule said.

Letshego MFB Nigeria’s original guarantee line was $3.5 million: Leshego MFB Nigeria leveraged that guarantee line to offer an additional $1.5 million in loans to clients. Cumulatively the bank says it disbursed about $5 million of loans — and out of this amount they disbursed $2 million to women-led SMEs in less than one year.

Letshego MFB Nigeria said that it disbursed 63% of its 5,115 loans to women-led micro and small enterprises (3,241 women-owned/entrepreneurs) in less than a year. Letshego increased its uptake of loans by women from 25% in 2020 to 51% in 2022.

This year’s award ceremony is a testament not only to the vibrancy and dynamism of Africa’s banking industry but also its increasing diversity

In her remarks, African Development Bank Vice President for Agriculture, Human and Social Development Dr Beth Dunford said “through AFAWA, and with partners like the African Guarantee Fund, the Bank was helping financial institutions realise that financing Africa’s women-led start-ups isn’t charity work – it is “good business”.

“We believe that supporting Africa’s women-led businesses and catalysing private investment are crucial for inclusive African economic transformation,” Dr Dunford added.

African Guarantee Fund’s Group Chief Executive Officer Jules Ngankam said their aim was to provide a holistic solution by reinforcing human and financial capital, so that women entrepreneurs could fully contribute to the growth of our continent.

“In addition to the AFAWA Guarantee for Growth, we also provide tailored technical assistance to our partner financial institutions to develop their women SME lending portfolios,” Ngankam said.

More than 300 of the continents’ leading bankers, regulators and policymakers attended the African Banker Awards, now in its 17th edition. Another highlight of the evening was African Development Bank head Dr Akinwumi Adesina presenting the award for “Finance Minister of the Year.”

As the music played after Adesina announced the winner, both he and honouree Enoch Godongwana, South Africa’s Minister of Finance, took a moment to dance to the beat before Adesina handed over the award.

Bank Secretary General Professor Vincent Nmehielle presented an award to Afreximbank for being named “Africa Bank of the Year.”

“This year’s award ceremony is a testament not only to the vibrancy and dynamism of Africa’s banking industry but also its increasing diversity,” said Omar Ben Yedder, Committee Chairman and Group Publisher at IC Publications, publishers of African Banker

Letshego Microfinance Bank Nigeria, in Lagos, is part of the larger Letshego Group (https://apo-opa.info/3IISlT5). The Letshego Group is an African multinational, first opening its doors in Botswana more than 21 years ago by offering loans to government employees. 

Today the Group employs more than 3,000 people and operates in 11 sub-Saharan African markets including Nigeria.

AFAWA is supported by various development partners including the G7 countries (France, Canada, Italy, Germany and the European Commission), the Netherlands, Sweden, and the Women Entrepreneurship Finance Initiative (We-Fi) of the World Bank Group.

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

Events

As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

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

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