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Saudi Fund for Development Signs Agreement to Finance Hospital Project in Cameroon

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Saudi Fund

The financing agreement will help to build and equip the hospital with a capacity of 200 medical beds and develop specialized medical departments, centers, and buildings spanning a total area of 14,000 m2

YAOUNDÉ, Cameroon, August 26, 2022/APO Group/ — 

Today, the Saudi Fund for Development (SFD) (www.SFD.gov.sa) signed an agreement with the Cameroonian Government to finance the construction of the Mbalmayo Regional Hospital Project, with the provision of a soft development loan amounting to USD 12 million. The agreement was signed by SFD CEO, Mr. Sultan bin Abdulrahman Al-Marshad, and the Cameroonian Minister of Economy, Planning, and Regional Development, Alamine Ousmane Mey.

The financing agreement will help to build and equip the hospital with a capacity of 200 medical beds and develop specialized medical departments, centers, and buildings spanning a total area of 14,000 m2. The project will also include an area for operational services covering up to 8,500 m2. The hospital will be fully furnished and equipped with electricity, water, and sewage facilities. The development plan also comprises the rehabilitation of the road that connects the hospital to the national road to ensure easy access to the hospital. The project will also include a helicopter landing pad for medical emergencies.

The project is expected to serve thousands of people from the Cameroonian capital as well as neighboring cities and villages, providing access to quality healthcare services. It will help tackle chronic disease and reduce mortality rates. The hospital will also alleviate overcrowding in Yaoundé and Douala hospitals.

Since 1977, SFD has provided — in addition to this agreement — development loans to finance nine (9) projects in Cameroon

The signing ceremony was attended by Mr. Abdulrahman Alzaben, Chargé d’Affaires at the Embassy of the Kingdom of Saudi Arabia to the Republic of Cameroon, and several officials from both nations.

In his speech, SFD’s CEO Al Marshad affirmed that the project will be co-financed by SFD, the Kuwait Fund for Arab Economic Development, and the Arab Bank for Economic Development in Africa (BADEA), with a total value of USD 38.8 million. Mr. Al Marshad reiterated that the project is a vital undertaking that will positively contribute to the social development of the Cameroonian people. The project will provide the necessary support for basic infrastructure services, enabling society members to access all their daily needs to improve their social and economic living conditions.

Al Marshad expressed his appreciation for the efforts exerted by both nations for more than 40 years to achieve the UN’s Sustainable Development Goals (SDGs). The project, he emphasized, is of great importance to safeguarding Cameroon’s future and ensuring the development of its burgeoning and thriving sectors.

Minister Mey praised the important role played by the Government of the Kingdom of Saudi Arabia, through SFD, in supporting development projects and improving the health sector in Cameroon. He emphasized the importance of the developmental relationship with the Fund over the past decades. The Minister further underlined that the Mbalmayo Regional Hospital project will be essential to people and communities across Cameroon, offering greater access to quality care and modern, specialized medical centers.

The Government of the Kingdom of Saudi Arabia realizes the importance of supporting the development sectors in Cameroon through SFD-funded development projects and programs.

Since 1977, SFD has provided — in addition to this agreement — development loans to finance nine (9) projects in Cameroon amounting to USD 109 million to enhance the growth and prosperity of the infrastructure, water, transportation, education, and health sector to help achieve the UN’s Sustainable Development Goals (SDGs).

Distributed by APO Group on behalf of Saudi Fund for Development.

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

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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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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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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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