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Prime Minister of Barbados Calls for a New Global Financial Paradigm that is Fair to All

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Global Financial Paradigm

The lecture, an initiative of the African Export-Import Bank (Afreximbank), was held on 14 October under the heading “The Developing World in a Turbulent Global Financial Architecture”

WASHINGTON D.C., United States of America, October 19, 2022/APO Group/ — 

The global financial architecture must be reconfigured completely to reflect the needs and participation of countries in the Global South, many of which were under the yoke of colonialism at the time the current order was fashioned, Her Excellency Prime Minister Mia Amor Mottley of Barbados has argued during the Sixth Annual Babacar Ndiaye Lecture, held on the sidelines of the World Bank-IMF Annual Meetings in Washington DC, USA.

The lecture, an initiative of the African Export-Import Bank (Afreximbank), was held on 14 October under the heading “The Developing World in a Turbulent Global Financial Architecture”. In his welcoming remarks, Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, celebrated the enduring legacy and vision of Dr Ndiaye and called for “renewed efforts to reconnect Africa and the Caribbean through trade and investment in pursuit of the shared purpose of economic emancipation”.

President Oramah praised Prime Minister Mottley for her global leadership in the pursuit of fairness and equality. He referred to their shared belief that “African and Caribbean nations can turn the iniquities of history into platforms for economic prosperity today and in the future. Realizing that vision can only begin with the reconnection of the Caribbean people to their genealogical ties in Africa through trade and investment.”

The lecture was organized at a time of heightening geopolitical tensions, with the weaponization of the US dollar exacerbating the risks of global fragmentation. Simultaneously, the cycle of aggressive interest rate increases by systemically important central banks in response to surging inflation has aggravated macroeconomic management challenges, dramatically increasing debt-servicing costs and raising the specter of a debt crisis in the Global South.

Technology has become the leading driver of growth and effective integration into the global economy

Prime Minister Mottley said the current system operates to the disadvantage of Caribbean and African nations, whose unique circumstances are not accounted for in the decision-making of major financial institutions, but which are nevertheless affected drastically by those decisions. Recalling the genesis of the Bretton Woods institutions, she said they were designed at a time when “we were not seen, we were not heard, and we were not felt”. These structures must be reoriented as a matter of fairness and to reflect the growing role that countries in the Global South play in the world economy.

She said global institutions must be reminded of their founding mandates and seek to fulfil their original purpose in a way that benefits all countries, but especially lower- and middle-income countries, which are currently facing severe challenges. Prime Minister Mottley outlined a set of recommendations for reforming the existing international financial system to better reflect the challenges of our time while concurrently creating the conditions for a process of globalization that serves us all. Among the various recommendations she articulated, the most pertinent include:

  1. Reforming the United Nations Security Council, especially its panel of Permanent Members, which currently lacks representation for more than 1.5 billion people of African descent;
  2. Democratizing the system of global governance, particularly the G7 and G20, by broadening representation to include the African Union as a full member;
  3. Reallocating unused special drawing rights (SDRs) issued by the IMF to assuage liquidity constraints in the Global South;
  4. Developing new facilities for food and agriculture, clean energy, and climate change adaptation in response to emerging global challenges;
  5. Capping debt-service payments to a certain percentage of exports—for instance around 5% of total exports, as was done in Germany to help finance reconstruction following the second world war. As a percentage of exports, debt-service payments have risen to 24% and 20% in Africa and the Caribbean, respectively;
  6. Reforming global credit rating agencies to correct their intrinsic biases, which over the years have led global investors to overprice risks in the Global South, with significant consequences for access to development finance, debt sustainability, and economic growth. To take but one example, Ghana’s Eurobond yield currently exceeds 25%, while Greece pays less than 2% for new issuances;
  7. Suspending temporary surcharges by the IMF, which further raise the debt burden at a time when rising interest rates are exacerbating the fiscal incidence of sovereign debt;
  8. Taking advantage of the Review of Quotas by the IMF scheduled for 2023 to reform the Bretton Woods institutions and account for shifting economic weights. The Prime Minister deplored the fact that 27 low-income countries, with a population of 611 million, have fewer quotas combined than the United Kingdom, with a population of only 67 million, does alone;
  9. Increasing long-term financing and longer maturity loans to support economic development and structural transformation in low-income countries. To underscore the benefits of long-term financing, the Prime Minister highlighted an example from Britain, where a bond issued in 1922 for reconstruction after the first world war was finally repaid in 2014, almost a century later;
  10. Reforming the Bretton Woods institutions and holding them accountable to their mandate, specifically that of development and not just crisis management and structural adjustment. The Prime Minister reminded the audience that what we now call the World Bank Group began life simply enough as the International Bank for Reconstruction and Development. She stressed that its eponymous mandate, which was so effective during the reconstruction of Europe after the second world war, has been noticeably less pronounced in respect of promoting development in the Global South, where poverty is rampant and unemployment rates have been at Great Depression-levels for decades.

Prime Minister Mottley emphasized the need to adopt a sense of urgency, arguing that the devastating effects of global warming, especially in countries on the frontline of the climate crisis, as well as ongoing energy and food crises demand bolder and swifter steps. “Urgent and ambitious action is necessary to save lives and livelihoods,” she said.

She also tasked countries in Africa and the Caribbean to expand their own capacity through creative linkages that will enable them to fund and execute projects. In that context, she praised Afreximbank for recently convening the inaugural AfriCaribbean Trade and Investment Forum, which she said provided an opportunity to build these bridges. “The presence of Caribbean banks in Africa and African banks in the Caribbean is one example of how economic bonds can be built and cemented,” she said. The Prime Minister also praised President Oramah for his Pan-African vision, which recognizes that global prosperity for Africans must include not only the continent of Africa but also its diaspora.

Furthermore, the Prime Minister highlighted the benefits associated with the emergence of digitalization and new technologies, especially in terms of economic development and shared prosperity between Africa and its diaspora. In that regard, she encouraged leaders in Africa and the Caribbean to prepare young Africans for rising development challenges by investing in artificial intelligence, information technology, cybersecurity, and digitalization. “We have to stop looking North, because we have the capacity,” she said.

“Technology has become the leading driver of growth and effective integration into the global economy. Investing in our youth is not only a path towards strengthening ownership of our development process, but also a way to reap the benefits of globalization,” Dr Hippolyte Fofack, Chief Economist of Afreximbank, said in his closing remarks. Dr Fofack thanked and praised the Prime Minister for her leadership on the subject of reforming the international financial system, which for too long has undermined the process of global income convergence and sustained the colonialist dichotomy of developed-developing countries by constraining access to capital in the Global South.

Dr Fofack also emphasized that the emergence of an improved international financial system, as articulated by the Prime Minister, must come as the result of collective effort, with success requiring support from all stakeholders. He invited world leaders—from the Global South and the North, as well as from the public and private sectors—to collaborate to implement the comprehensive recommendations outlined by Prime Minister Mottley to meet our shared challenges of the 21st century.

Distributed by APO Group on behalf of Afreximbank.

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$2.1 Billion and Counting: African Real Estate Is Executing

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7 hours ago

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July 21, 2026

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Africa

Ahead of the 17th Africa Property Investment (API) Summit in Cape Town, investment pipelines are converting into a record number of transactions as the continent’s real estate and hospitality sectors move from potential into real momentum

CAPE TOWN, South Africa, July 21, 2026/APO Group/ –Verified data gathered from across Africa’s real estate investment landscape reveals that the continent’s leading property and hospitality roleplayers completed more than $2.1 billion worth of transactions over the past 18 months, representing one of the most concentrated periods of institutional real estate deal activity in the continent’s history.

 

Download Document: https://apo-opa.co/3TraTiH

The 28 transactions (across nine countries and eight asset classes) were closed by API Summit stakeholders from across the institutional property ecosystem – spanning listed capital markets, commercial, residential, hospitality, logistics and alternatives.

The full African Deals Index report – compiled in collaboration with Broll, the data and insights partner for API Summit 2026 – will be unveiled on the opening day of the event, taking place at the Cape Town International Convention Centre on 17 and 18 September.

Talk turning to investment action

The deal-making activity is a signal of the much-spoken-about potential for Africa converting into tangible action, driven by enhanced investor confidence.

“This isn’t a forecast – it’s a balance sheet. $2.1 billion in completed transactions tells you African real estate has moved past the conversation about potential and into the discipline of execution,” said Malcolm Horne, Group CEO of Broll Property Group.

Horne highlighted several key shifts reflected in the data.

“What’s notable is where the conviction is coming from: domestic pension capital acting as a structuring investor, not a passive landlord, and green-linked financing becoming a board-level decision, not a marketing line. At Broll, we see this in our own data every day – across the assets we manage, the cost of capital is increasingly tied to the quality of the asset, not just its location.

“That’s the market maturing in real time, and it’s exactly the momentum my team and I are looking forward to presenting and unpacking at API this year.”

The 17th Annual API Summit takes place under the theme Bold Capital. Real Momentum. and is expected to attract over 600 delegates from more than 30 countries.

Niyi Adeyele, Head of Real Estate Finance, Africa Regions at Standard Bank Group, commented on the evolution of real estate sector funding across Africa.

“It remains interesting to track the resilience and the evolution of activities in the sector, from growing capital market activities, to the rapidly increasing participation of domestic capital sources within the African continent from domestic focused institutional capital sources such as pension funds and family offices to pan-African investor platforms that tend to operate across multiple countries.”

He said that accordingly, sectoral activity levels remain positive, with the “growing pace of green field projects in key markets” providing “early indications of a new growth cycle for the sector”.

Investors now have listed, liquid exposure to African real estate, and issuers have a repeatable route to permanent capital

Major moves from domestic capital and DFIs

Domestic pension capital has moved decisively beyond its traditional role as a passive landlord, emerging as an active, structuring investor in African real estate – a shift that will be central to discussions at the summit.

The charge was led by South Africa’s Government Employees Pension Fund (through the Public Investment Corporation and retail property powerhouse Pareto), which concluded commercial, residential and industrial transactions valued at over $343.5 million since the start of 2025.

“Through the Standard Bank Group’s franchise operations across multiple countries, there are observed increase deployment of institutional capital to across key markets driving increased primary and secondary market activities,” said Adeyele, pointing to examples such as Grene Capital’s raising of $100 million from Nigerian pension for property investments in Nigeria and beyond.

Sustainability-linked deal leads the way

Sustainability remains a critical factor in real estate financing considerations – evidenced by the largest transaction completed over the past 18 months.

Standard Bank and its African Regions brand Stanbic (along with Rand Merchant Bank) acted as co-lender on a $300 million green financing facility to facilitate Lango’s bid to become Africa’s first Green Pure Play real estate company, with 90% of its portfolio certified according to international standards.

Amongst several other milestones, the Africa Logistics Property (ALP) Industrial REIT listing on the Nairobi Stock Exchange in March 2026 was notable as East Africa’s first listing featuring entirely IFC EDGE-certified green buildings.

Listed capital makes major moves

REIT capital markets were the second largest asset class by value across the period, accounting for $568.5 million of activity, with the action extending well beyond South Africa’s established counters.

East Africa welcomed ALP’s Industrial REIT (marking the region’s first industrial and first USD-denominated security); Centum’s TRIFIC Dollar I-REIT (the first green, income-distributing USD-denominated) and Acorn Holdings’ build-to-rent D-REIT.

On Zimbabwe’s Victoria Falls Stock Exchange, the Pfuma Fund REIT and Eagle REIT both listed, deepening a hard-currency capital market that scarcely existed five years ago.

“Seeing multiple REITs listing on exchanges in one cycle tells you the asset class has crossed from novelty to norm. Investors now have listed, liquid exposure to African real estate, and issuers have a repeatable route to permanent capital,” said Raghav Gandhi, CEO of ALP.

API Summit 2026 – ushering in the next wave of deals

The unprecedented commitment of capital into Africa’s real estate sector takes centre stage when the 17th Annual API Summit convenes. Welcoming the investors, developers, financiers and policymakers behind the continent’s most prominent deals, this year’s event features a new Multifamily Forum alongside the popular Hospitality and Proptech Forums; an impactful main plenary, workshops, deals and meetings rooms and investment showcases, and the 10th edition of the prestigious API Awards.

For more information and to register, visit www.APISummit.co.za

Distributed by APO Group on behalf of API Events.

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ST Telemedia Global Data Centres Delivers on Responsible Scaling, Surpassing 2028 Carbon Intensity Target Three Years Early with Renewables at 83.2%

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13 hours ago

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July 21, 2026

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ST Telemedia

SINGAPORE – Media OutReach Newswire – 21 July 2026 – ST Telemedia Global Data Centres (STT GDC) today published its 2025 Environmental, Social and Governance (ESG) Report, setting out how the Singapore-headquartered global data centre provider is meeting accelerating demand, including from AI-driven workloads, through infrastructure that is more resilient, efficient and sustainable by design. The report highlights 83.2% renewable energy usage, a 70.5% reduction in carbon intensity from its 2021 baseline, 41.2% improvement in water usage effectiveness (WUE) from the 2020 baseline, and continued progress in embedding ESG considerations into how STT GDC designs, builds, finances and operates its data centres at scale.

The report positions responsible growth as a core business discipline for STT GDC, linking sustainability performance to long-term asset resilience, customer trust and operational excellence. Across its global platform, STT GDC is integrating ESG considerations into capital allocation, site selection, design, operations, risk management and workforce development to support reliable digital infrastructure at scale.

Bruno Lopez, President and Group Chief Executive Officer, ST Telemedia Global Data Centres, says, “The next phase of digital growth will be defined by how the industry resolves the tension between rising demand — particularly from AI — and the finite nature of energy, water and land. Responsible scaling is therefore not a sustainability commitment alone; it is a commercial and operational imperative that shapes where we build, how we design, and how we run our data centre platform. Our 2025 progress reflects disciplined execution of a strategy we have been advancing for years, delivering meaningful improvements in energy efficiency, emissions and resource management across our global platform. As we scale further, we will continue to advance with the same discipline — in the infrastructure we build, the governance that underpins it, and the positive impact we create for the communities and ecosystems we are part of.”

Scaling efficient, lower-carbon infrastructure

STT GDC continued to advance its decarbonisation strategy in 2025, delivering measurable reductions in emissions and improvements in resource efficiency while scaling its global data centre platform to meet rising digital demand. The Group’s approach focuses on embedding sustainability into the design and operation of its infrastructure, enabling long-term performance while managing growing energy and resource requirements. Key environmental achievements include:

Furthered renewable energy adoption, with 83.2% of electricity consumption sourced from renewables, supporting STT GDC’s transition towards carbon-neutral operations by 2030.
Reduced carbon intensity by 70.5% from the 2021 baseline, surpassing STT GDC’s 2028 target three years ahead of schedule, alongside a 15.2% year-on-year reduction in absolute Scope 1 and 2 emissions
Improved energy efficiency across operations, achieving an average Power Usage Effectiveness (PUE) of 1.44, a 13.0% improvement from the 2020 baseline, reflecting continued optimisation of data centre design and operations.
Enhanced water stewardship, with Water Usage Effectiveness (WUE) improving by 41.2% from the 2020 baseline, supported by a balanced approach to managing energy and water use in cooling systems.
Continued progress in sustainable infrastructure, with 48% of its data centres achieving green building certification, reflecting the integration of sustainability considerations across the lifecycle of its facilities.
Building a safe and future-ready workforce

As STT GDC continues to scale its global data centre platform, investing in people, safety and workforce capabilities remains central to delivering reliable and sustainable operations. In 2025, the Group maintained a strong focus on safeguarding its workforce, strengthening organisational capability and supporting the development of future-ready talent to meet the growing demands of the digital economy. Key social achievements include:

Maintained strong safety performance, with zero work-related fatalities and a Total Recordable Incident Rate (TRIR) of 0.1 across more than 41 million hours worked, reflecting robust health and safety management across construction and operations.
Strengthened workforce capability, with an average of 18 training hours per employee, supporting the development of technical, operational and leadership skills across the organisation.
Advanced diversity and inclusion, with 21.7% women representation across the Group, reinforcing ongoing efforts to build a more inclusive and balanced workforce.
Expanded talent development initiatives, including the DC Power Up programme and partnerships with 10 Institutes of Higher Learning across our markets, helping to build a pipeline of industry-ready talent for the growing digital infrastructure sector.
Deepened community and workforce engagement, through skills development programmes and industry-academic partnerships that support long-term talent development and contribute to local economic growth.
Strengthening Governance and Resilience at Scale

Strong governance, disciplined risk management and robust operational controls underpin STT GDC’s ability to scale responsibly in an increasingly complex digital environment. In 2025, the Group continued to strengthen its enterprise-wide approach to governance, embedding ESG considerations into decision-making, risk management and day-to-day operations to support long-term resilience and performance. Key achievements include:

Strengthened governance and ethical business practices, with 100% of employees completing anti-corruption training, reinforcing STT GDC’s commitment to integrity and accountability across its global operations.
Enhanced enterprise-wide risk management, incorporating climate, cybersecurity and operational risks into planning and decision-making, ensuring infrastructure resilience as the Group scales.
Advanced cybersecurity and operational resilience, including strengthened governance, technical controls and preparedness through initiatives such as executive-level cyber exercises and risk assessments across key facilities.
Improved supply chain governance, embedding ESG criteria into procurement processes and reinforcing responsible sourcing practices across its global vendor network.
Strengthened organisational alignment and execution, through the inaugural Group ESG Summit, supporting capability building and consistent application of ESG priorities across markets.
These efforts come as data centre operators face growing expectations to deliver capacity while managing energy, water, climate and cybersecurity risks with greater transparency and accountability.

STT GDC’s 2025 ESG Report reflects a continued evolution in how the Group approaches sustainable growth, with a stronger focus on disciplined execution, operational resilience and long-term performance as it scales its global platform. As digital infrastructure becomes increasingly critical to economies and societies, STT GDC will continue to embed sustainability, risk management and governance into how it designs, builds and operates its data centres.

By working closely with customers, partners and communities, the Group aims to deliver infrastructure that is not only efficient and resilient, but also capable of supporting the next phase of digital growth, including AI-driven workloads, in a responsible and sustainable way.

The full 2025 ESG Report is available at https://www.sttelemediagdc.com/about-us/our-esg-progress

About ST Telemedia Global Data Centres
ST Telemedia Global Data Centres (STT GDC) is one of the fastest-growing data centre providers with a global platform serving as a cornerstone of the digital ecosystem that helps the world to connect. Powering a sustainable digital future, STT GDC operates across Singapore, the UK, Germany, Italy, India, Thailand, South Korea, Indonesia, Japan, the Philippines, Malaysia and Vietnam, providing businesses an exceptional foundation that is built for their growth anywhere. For more information, visit https://www.sttelemediagdc.com/

 

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Energy

London Showcase to Bring Venezuela’s Energy Opportunities to Global Investors Ahead of 2026 Summit

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14 hours ago

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July 21, 2026

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A high-level London industry showcase on July 30 will bring together UK and European investors, financiers and energy leaders to explore emerging opportunities across Venezuela’s oil, gas and power sectors ahead of Venezuela Energy Week 2026

LONDON, United Kingdom, July 17, 2026/APO Group/ –As Venezuela accelerates efforts to revitalize its energy sector and attract international investment, Venezuela Energy Week 2026 will host an exclusive Industry Showcase in London on July 30, bringing together investors, financial institutions, international oil companies, commodity traders and energy executives for market intelligence, networking and partnership development ahead of the flagship conference taking place this October in Caracas.

 

Designed as a strategic preview of the main event, the London showcase will provide UK and European stakeholders with first-hand insight into Venezuela’s evolving investment landscape while creating opportunities for commercial dialogue with industry leaders, potential partners and key decision-makers.

Home to the world’s largest proven oil reserves and significant natural gas resources, Venezuela is entering a new phase of energy development focused on increasing production, expanding gas commercialization and modernizing critical infrastructure. Ongoing reforms and renewed international engagement are creating opportunities for companies able to provide capital, technology and technical expertise.

The timing is particularly significant as several UK and European energy companies continue to strengthen their presence in Venezuela. UK-based majors Shell and BP are advancing key natural gas developments, with Shell preparing for 2027 drilling at the Dragon offshore gas project and BP signing agreements in April to develop the Cocuina-Manakin offshore gas field, marking its return to the Venezuelan market. Spain’s Repsol recently announced plans to increase production from its Venezuelan assets, while Italy’s Eni is relaunching a heavy crude project in the Orinoco Belt. France’s Maurel & Prom, meanwhile, remains a key partner in strategic assets such as the Urdaneta Oeste field. On the trading and commercialization front, Geneva-headquartered energy trader Vitol has renewed its engagement with Venezuelan crude exports, reflecting broader international interest in reconnecting the country’s resources with global markets.

Against this backdrop, the London Industry Showcase will highlight Venezuela’s re-emerging investment potential while creating a platform for strategic networking and direct engagement with government leaders, national energy companies, regulators and private sector partners.

The event is expected to attract representatives from investment funds, export credit agencies, commercial banks, private equity firms, commodity traders, engineering companies, technology providers and UK-based independent energy companies exploring opportunities across Venezuela’s energy value chain.

The showcase will also provide an exclusive preview of Venezuela Energy Week 2026, including ministerial dialogues, executive forums, technical conferences and dedicated business-to-business networking sessions designed to connect international investors with the decision-makers shaping the country’s energy future.

Taking place on October 26–29, 2026 in Caracas, Venezuela Energy Week serves as the country’s premier platform for advancing investment across the oil, gas and power sectors. By bringing the conversation to London – one of the world’s leading financial and energy centers – the Industry Showcase builds momentum ahead of the flagship event while strengthening ties between international capital and one of the world’s most resource-rich energy markets.

To participate in the London Industry Showcase on July 30 or secure your place at Venezuela Energy Week 2026 in Caracas this October, contact info@venezuelaenergyweek.com to learn more about delegate, sponsorship and partnership opportunities.

Supporting Venezuela’s Earthquake Recovery

 

Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

 

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/3RKKqfz).

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

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