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New entrepreneurship initiative to boost job creation in Libya

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The Deraya

The Deraya initiative is designed to equip entrepreneurs with the essential know-how to turn innovative ideas into successful startups

TRIPOLI, Libya, May 30, 2023/APO Group/ — 

The new “Deraya1 – دِرَايَــة Entrepreneurship Initiative” for young entrepreneurs seeks to build a dynamic ecosystem of innovative entrepreneurs and startups in Libya.

Young entrepreneurs in Libya face many challenges, including accessing markets and financial resources, and navigating regulations and administrative procedures. The Deraya initiative is designed to equip entrepreneurs with the essential know-how to turn innovative ideas into successful startups. The initiative was jointly developed by the Ministry of Local Government (MoLG), and United Nations Development Programme (UNDP), in collaboration with  the European Union (EU) and the African Development Bank (AfDB).

Targeting youth and vulnerable groups, Deraya is open to innovative and aspiring entrepreneurs aged between 18 and 35. Through interactive webinars, the initiative’s participants will be given an opportunity to engage with experienced entrepreneurs, subject matter experts, and role models from Libya, Egypt, and Tunisia and learn from their success stories, wealth of knowledge, and expertise. The initiative will also entail startup weekends in Tripoli, Benghazi, Sebha, and Derna, culminating with a pitch competition where the winning startups will receive financial support, financed by EU and AfDB, to further develop, grow, and take their business ideas to the next level. As a critical step towards sustainability, entrepreneurs will be linked to the municipal business incubators being set up with MoLG with UNDP’s technical support.

Commenting on the launch of the programme, Dr. Bader Al-Deen Al-Tomi, Minister of Local Government, said: “The Deraya initiative plays a pivotal role in the Ministry of Local Government’s strategy to develop entrepreneurship and micro-enterprises at the local level, empower municipalities economically, and provide job opportunities in line with Law 59and Resolution 15003. We are delighted to work towards these goals in cooperation with our international partners, EU, AfDB and UNDP.”

EU Ambassador Mr. José Sabadell added: “Libya’s economic prosperity will be driven by young entrepreneurs with innovative, forward-looking ideas. They will be the key to a more diversified Libyan economy, a strong private sector and new jobs. Together with our Libyan and international partners, the European Union therefore seeks to offer strong and concrete support to young Libyan entrepreneurs, to realise their business ideas.”

Mr Mohamed El Azizi, Regional Director for North Africa at the African Development Bank, further commented: “Private sector development is key to boosting economic diversification and job creation in Libya. Supporting the trajectory of young Libyan men and women to develop and grow their start-ups has enormous socio-economic potential and will contribute to job creation. It is also important to ensure an adequate business enabling environment and institutional support. The EEYES project, financed by the AfDB through the Youth Entrepreneurship and Innovation Multidonor Trust Fund, and implemented by UNDP, supports these components.”  

UNDP Resident Representative, Mr. Marc-André Franche, said: “Libya has a new generation of young people, women and men, , with promising capacity and big ambitions. The country has the potential to be one of the biggest entrepreneurial ecosystems in North Africa, and through the Deraya programme, UNDP seek to help inspire and provide young entrepreneurs with the necessary resources and assets to realise growth and innovation.”

The Deraya programme is part of UNDP’s Local Peacebuilding and Resilience efforts in partnership with MoLG, aimed at creating socio-economic opportunities for youth and vulnerable groups to promote sustainable growth in Libya, including the establishment of the first Municipality-led business incubator (https://apo-opa.info/3C2SOf1) and the TEC+ Accelerator programme (https://apo-opa.info/3oANCMa).

The Deraya initiative, co-funded by AfDB and EU, is designed and implemented in collaboration with a consortium consisting of Flat6Labs (https://www.Flat6Labs.com/), Tatweer Research (https://TatweerResearch.org/) and MAZAM (https://apo-opa.info/3WUSWHf), bringing in years of experience and specialized knowledge in helping young entrepreneurs launch successful ventures in both the Middle East & Africa regions.

Libya’s economic prosperity will be driven by young entrepreneurs with innovative, forward-looking ideas

Further information and how to apply can be found on the website: Deraya.ly.

Background:
UNDP supports Libya’s transition towards peace, economic recovery, and sustainable development to help the country get on a more robust development path by supporting local authorities to restore essential services delivery and livelihood opportunities and promote peaceful co-existence. Job creation for youth is at the heart of UNDP’s local Peacebuilding efforts. This initiative is part of UNDP’s “Environment towards youth entrepreneurship support and positive migration governance project (EEYES)” programme financed by the African Development Bank (AfDB), and the Strengthening Local Capacity for Resilience and Recovery Project funded by the North of Africa Window of the European Union Emergency Trust Fund for Stability which contributes to addressing the root causes of irregular migration and displaced persons in Africa (EUTF – NOA). The Deraya initiative is implemented in partnership with Flat6Labs, Tatweer and Mazam.


[1] Deraya is an Arabic word meaning knowledge and awareness.

[2] https://apo-opa.info/45tZAYC

[3] https://apo-opa.info/3IKsGt7

Distributed by APO Group on behalf of Flat6Labs.

Energy

U.S.-Africa Energy & Minerals Forum Expands to Critical Minerals and Supply Chain Security

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Africa

This year’s U.S.-Africa Energy & Minerals Forum in Houston signals a strategic shift toward integrated energy and critical minerals investment, strengthening U.S. partnerships across Africa’s resource and industrial value chains

HOUSTON, United States of America, February 26, 2026/APO Group/ –The U.S.-Africa Energy & Minerals Forum (USAEMF) has relaunched with a dedicated focus on critical minerals, marking an important evolution in its role as a platform for U.S.-Africa commercial engagement. Building on its foundation in energy, power and industrial projects, the forum’s expanded scope positions it at the center of investment conversations shaping the future energy economy.

 

Scheduled for July 21–22, 2026, in Houston, Texas, USAEMF comes at a time of surging global demand for copper, cobalt, lithium, manganese and rare earth elements, driven by electrification, battery storage, AI infrastructure and advanced manufacturing. Africa is increasingly critical to securing these materials, highlighting how energy and minerals are now interconnected pillars of industrial growth, geopolitical stability and decarbonization.

The forum’s minerals mandate deepens engagement with African producers – particularly the Democratic Republic of Congo (DRC), home to some of the world’s largest copper and cobalt reserves. Momentum is building through the U.S.–DRC strategic minerals framework and the U.S.-backed Orion Critical Mineral Consortium, a major investment platform supported by the DFC and private partners. The consortium is pursuing a 40% stake in the Mutanda and Kamoto copper-cobalt operations in a $9 billion transaction, securing long-term supply for allied markets while reinforcing cooperation on infrastructure, security and supply-chain governance.

Placing critical minerals at the center while maintaining strong hydrocarbons engagement strengthens U.S.-Africa commercial ties

U.S. financing is also expanding across the region, with the DFC managing a continental portfolio exceeding $13 billion to support mining, processing and transport infrastructure for critical mineral supply chains. Recent commitments include rare earth, graphite and potash projects in Malawi, Mozambique and Gabon; broader investments in Uganda, Tanzania, Zambia and South Africa; and $553 million linked to the development of the Lobito Corridor. The DFC is also a major backer of TechMet, a U.S.-supported investment firm valued at over $1 billion, which is raising up to $200 million to expand copper, cobalt, lithium and rare earth assets and pursue new opportunities across the DRC and Zambia. Together, these initiatives underscore Washington’s push to diversify battery-mineral supply while positioning Africa as a long-term partner in clean energy and industrial value chains.

Houston’s role as host city reflects the alignment between American industrial capacity and African resource development. Long established as a global energy hub, the city is expanding into energy transition technologies, advanced materials, carbon management and industrial innovation. By convening African governments with U.S. private equity, development finance institutions, exporters, insurers and technical service providers, the forum creates a commercial platform capable of converting mineral potential into bankable projects.

“The evolution from USAEF to USAEMF reflects a broader shift toward integrated energy and mineral development,” states Nadine Levin, Portfolio Director at Energy Capital & Power, forum organizers. “Placing critical minerals at the center while maintaining strong hydrocarbons engagement strengthens U.S.-Africa commercial ties and advances projects that deliver long-term shared value.”

While critical minerals define the forum’s strategic expansion, the U.S.’ longstanding role in Africa’s energy sector remains central to the platform’s value proposition. American energy companies continue to advance exploration and development across key upstream markets, support gas monetization in the Gulf of Guinea and revitalize mature production in North Africa. U.S. export credit and development finance are also helping unlock large-scale LNG capacity in Mozambique while supporting optimization and expansion across existing gas infrastructure in West Africa – demonstrating how American capital, engineering expertise and risk-mitigation tools convert resource potential into delivered energy systems.

USAEMF is the leading platform connecting U.S. capital and technical expertise with Africa’s energy and minerals sectors. For more information or to participate at the upcoming forum, please contact sales@energycapitalpower.com

Distributed by APO Group on behalf of Energy Capital & Power.

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Business

Pesalink and Pan-African Payment and Settlement System (PAPSS) Unlock Cross-Border Payments in Local Currencies in Kenya

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Pesalink

The Pesalink–PAPSS partnership will reduce costs, speed up settlements, and help individuals, SMEs and businesses send money more efficiently across borders

NAIROBI, Kenya, February 26, 2026/APO Group/ —

  • Instant 24/7 bank-to-bank transfers across African borders in local currencies.
  • Simpler cross-border payments for individuals, businesses, and SMEs.
  • 80 plus Pesalink network participants now linked to 160 plus PAPSS participating banks.

 

Pesalink, Kenya’s de facto instant payment network, has partnered with the Pan-African Payment and Settlement System (PAPSS) to ease cross-border payment and speed up regional financial integration.

 

The partnership enables instant 24/7 cross-border payments from PAPSS participants into banks and mobile money operators within the Pesalink network in Kenya, all settled in local currencies. This reduces complex correspondent banking requirements and reliance on foreign reserve currencies.

 

Kenyan banks will now be able to offer faster, cheaper cross-border payments

PAPSS, an initiative of the African Export-Import Bank (Afreximbank) in collaboration with the African Union and the AfCFTA Secretariat, enables cross-border payments between African countries. Pesalink is now a Technical Connectivity Provider. It means that 80 plus Kenyan bank, fintech, SACCO and telco participants on the Pesalink network will be connected to 160 plus commercial banks and fintechs on the PAPSS platform.

 

Cross-border payments remain expensive and slow for many African businesses. The 2023 (http://apo-opa.co/4baDSh7) World Bank Remittance Prices report indicates that sending money across African borders incurs on average 7-8% of the total value sent (above the global average of 6–7%). Settlement can also take three to seven business days.

 

The Pesalink–PAPSS partnership will reduce costs, speed up settlements, and help individuals, SMEs and businesses send money more efficiently across borders.

 

Speaking during the partnership signing held at Pesalink offices in Nairobi, PAPSS CEO Mike Ogbalu III said, “For PAPSS to deliver true impact, collaboration with national and private switches like Pesalink is essential. Pesalink is the first switch we’ve piloted for transaction termination in Kenya, and we are already seeing greater adoption by opening more channels for seamless, local-currency cross-border payments across Africa.”

 

Pesalink CEO, Gituku Kirika, said “Kenyan banks will now be able to offer faster, cheaper cross-border payments. They will be helping their customers grow more regional trading relationships and thrive in a more integrated digital economy.”

Distributed by APO Group on behalf of Afreximbank.

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Events

Africa Trade Conference Returns to Cape Town with Esteemed Speakers Driving Africa’s Trade Agenda

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Africa

Second edition convenes global policymakers, business leaders, and innovators to accelerate Africa’s integration into global trade

CAPE TOWN, South Africa, February 26, 2026/APO Group/ –Access Bank Plc (www.AccessBankPLC.com) is proud to announce the distinguished line-up of speakers for the second edition of the Africa Trade Conference (ATC 2026), scheduled to take place on March 11, 2026, at the Cape Town International Convention Centre, Cape Town, South Africa. Building on the strong foundation of its inaugural edition, ATC 2026 will convene an exceptional assembly of global and African leaders, policymakers, investors, and business executives committed to shaping the future of trade on the continent.

The Africa Trade Conference has rapidly emerged as a premier platform for advancing dialogue and action around Africa’s evolving role in global commerce. The 2026 edition will feature influential voices from across finance, government, development institutions, and the private sector, who will share insights on unlocking trade opportunities, strengthening intra-African commerce, enabling business expansion, and positioning African enterprises for global competitiveness.

The confirmed speakers represent a powerful cross-section of leaders driving Africa’s economic transformation.

Building on the momentum of its maiden edition, which convened senior decision-makers from 28 countries, the 2026 conference with the theme “Turning Vision into Velocity: Building Africa’s Trade Ecosystem for Real-World Impact”, will have the keynote address delivered by Kennedy Mbekeani, Director General, Southern Africa Region, African Development Bank (AfDB), alongside Kwabena Ayirebi, Managing Director, Banking Operations at the African Export-Import Bank. Their joint keynote will address the evolving financing landscape for African trade and the strategic pathways for unlocking continental prosperity.

The welcome address will be delivered by Roosevelt Ogbonna, CEO/GMD, Access Bank Plc, who will set the tone for discussions centered on trade transformation, financial inclusion, and regional competitiveness, while Tolu Oyekan, Managing Director & Partner at Boston Consulting Group, will deliver insights on “Africa Trade Outlook 2026”, examining emerging macroeconomic trends, supply chain shifts, and growth opportunities across key sectors.  The CEO of Pan-African Payment and Settlement System, Mike Ogbalu, will be engaging the conference participants on the topic, “Building a Connected Africa Through Trade, Payments & Technology”, focusing on how payment interoperability and digital infrastructure can accelerate the African Continental Free Trade Area (AfCFTA) agenda.

The calibre of speakers confirmed for this year’s conference underscores the urgency and opportunity before us

The conference will also host a High-Level Ministerial Panel that features Elizabeth Ofosu-Adjare, the Minister for Trade, Agribusiness & Industry, Ghana; Tiroeaone Ntsima, Minister of Trade and Entrepreneurship, Botswana; Mr. Florian Witt, Divisional Head, International & Corporate Banking Oddo-BHF, Ms. Nathalie Louat – Global Director, International Finance Corporation (IFC), Dr Isaiah Rathumba – Head of Department, Limpopo Economic Development, Environment and Tourism and Mr. Alfred Idialu – Chief Rep Officer, Deutsche Bank among other policymakers shaping trade policy across the continent.

Commenting on the announcement, Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank Plc, said:
“The Africa Trade Conference reflects our unwavering commitment to advancing Africa’s economic transformation by creating a platform that brings together the leaders, institutions, and ideas shaping the future of trade. The calibre of speakers confirmed for this year’s conference underscores the urgency and opportunity before us. Africa is not only participating in global trade, it is helping to redefine it. Through this convening, we aim to catalyse partnerships, unlock new opportunities for businesses, and accelerate Africa’s integration into global value chains.”

“At Access Bank, we see ourselves not just as financiers, but as connectors of markets, ideas, and opportunities. Our role is to help African businesses move from ambition to impact, from local relevance to global competitiveness.”

With operations in 24 countries globally, including 16 across Africa, Access Bank’s expansive footprint places it in a unique position to facilitate cross-border trade, unlock regional value chains, and simplify the complexities of doing business across markets.

“Our presence across Africa and key global corridors gives us a front-row seat to the realities of trade. It also gives us the responsibility to design solutions that are inclusive, scalable, and future facing. ATC 2026 is part of that commitment, Ogbonna added.

ATC 2026 is expected to catalyze partnerships, enable policy dialogue, and provide actionable strategies for businesses operating within and beyond the continent.

The Access Bank Chief puts it thus, “Africa will not be a spectator in the remaking of global trade. We will be one of its architects. ATC 2026 is where those blueprints will be drawn.”

For more information and registration, please visit https://apo-opa.co/4sdXWF7

Distributed by APO Group on behalf of Access Bank PLC.

 

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