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Somalia joins Afreximbank as it seeks to boost Intra-African trade and economic growth

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Afreximbank

Somalia’s membership of Afreximbank is a significant milestone that places the country on a path of sustainable economic transformation, upgrading of the country’s trade and industrial infrastructure

CAIRO, Egypt, March 24, 2025/APO Group/ –Somalia has formally acceded to the Establishment Agreement of African Export-Import Bank (Afreximbank) (www.Afreximbank.com), becoming the 53rd African member state of the African multilateral financial institution and bringing the Bank closer to its goal of broadening its product offerings to all parts of the continent.

In the instrument of accession signed by Hon. Hirsi Jama Gani, State Minister, Office of the Prime Minister, Somalia notified Afreximbank that Somalia “accepts, and hereby accedes, to the Agreement for the Establishment of the Bank” and pledged to undertake all necessary steps to expedite ratification of the Agreement.

Somalia’s membership of Afreximbank is a significant milestone that places the country on a path of sustainable economic transformation, upgrading of the country’s trade and industrial infrastructure, and most importantly joins the rest of the continent in the push towards continental integration and self-reliance through the African Continental Free Trade Area (AfCFTA).

This partnership is significant to Somalia’s ongoing reconstruction and economic diversification efforts, opening doors for financial and technical support

Expressing deep satisfaction at Somalia’s decision to accede to the Agreement, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, emphasised the mutual benefits to both parties.

“We are delighted to welcome Somalia into the Afreximbank family. This is a significant milestone as it widens the opportunity for the Somali public and private sectors to access financing and other related interventions that addresses their real needs. By joining the Bank, Somalia embarks on a new journey of pursuing its developmental aspirations on its own terms, backed by unwavering support from Afreximbank, a bank with proven track record of supporting its Participating States in good and bad times. Today, we begin a collective journey to enable the Somali economy to realise the maximum value from its natural resources while hastening its integration into the African Continental Free Trade Area.”

Hon. Hirsi Jama Ganni, Somalia’s State Minister of the Office of the Prime Minister expressed gratitude to Afreximbank for Somalia’s membership: “On behalf of the Government of Somalia and its people, I sincerely thank Afreximbank for its efforts that led our country to become a member state of the Bank. This milestone agreement signals our commitment to becoming a key player in regional and continental development, especially through trade, under the framework of the African Continental Free Trade Area (AfCFTA). This partnership is significant to Somalia’s ongoing reconstruction and economic diversification efforts, opening doors for financial and technical support.”

Hon. Ganni added: “We urge Afreximbank to accelerate the implementation of its programs and initiatives in Somalia, aligning them with Somalia’s National Development Plan and helping it meet its ambitious development goals. This is a critical step in realising the full potential of our country and for Somalia to regain its position as a strategic trade hub within East Africa .”

This accession follows proactive engagements between Afreximbank and the Somalia government, aimed at identifying and exploring opportunities to support the country’s development agenda. A collaborative roadmap has been established to guide these efforts. Additionally, Afreximbank has initiated discussions with Somalia’s corporate and financial sectors, recognizing their vital role in delivering the Bank’s developmental programs and fostering economic growth within the country.

In the meeting with the Afreximbank team, Hon. Abdirahman Abdullahi, Governor of the Central Bank of Somalia said: “Afreximbank’s visit to Mogadishu was timely as it came just after Somalia joined the East African Community regional trade bloc in 2024, and successfully completed the Highly Indebted Poor Countries (HIPC) debt relief process. The Somali people are renowned for their trade and entrepreneurial spirit, and I urge the business community in Somalia to fully leverage the opportunities offered by Afreximbank under its financing programs, to expand their reach, drive sustainable growth, and contribute to a more connected and competitive economy.”

Distributed by APO Group on behalf of Afreximbank.

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Morocco Emerges as New Hub for Global Football as World Football Summit Lands in Rabat

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Historic gathering of football leaders from 50 countries set to shape the future of the beautiful game

RABAT, Morocco, April 3, 2025/APO Group/ –World Football Summit (WFS) (https://WorldFootballSummit.com), in partnership with UM6P and Evosport, and with OCP Group as the Presenting Partner, will welcome over 1000 leaders from the global football industry to Rabat on April 9-10, 2025, marking a significant milestone in Morocco’s rise as a football powerhouse following their historic World Cup performance and ahead of co-hosting the 2030 FIFA World Cup.

WFS Rabat 2025 represents an unprecedented convergence of African football leadership and global stakeholders, with the strong backing of the Moroccan Football Federation (FMRF). The summit will serve as a landmark gathering for African football development while fostering crucial cross-continental collaborations in football governance, investment, and innovation.

The event will feature 85 distinguished speakers from football’s most influential organizations, including Fouzi Lekjaa (President of the Moroccan Football Federation), Gelson Fernandez, (Deputy Chief Member Associations & FIFA Regional Director Africa – FIFA), Samson Adamu (Director of tournaments and events at CAF), Fréderic Kanouté (Football Legend), Mr. Shehu Dikko (Honourable Minister of Sports – National Sports Commission of Nigeria), or Eniola Aluko (Investor and advisor). Furthermore, prominent figures in global sports leadership from the Confederation of African Football (CAF), FIFA, FC Barcelona, or the NBA, will be in attendance as well as government officials from Nigeria, Ghana, or Kenya, creating a unique environment for public-private dialogue on sports development.

The summit will address critical topics including football infrastructure development, investment opportunities, governance frameworks, and pathways for African talent.

Africa’s football journey is no longer a parallel story but a central chapter in the global narrative

Jan Alessie, Co-Founder and Managing Director of World Football Summit, commented: “WFS Rabat represents a key moment in football’s evolution. Africa’s football journey is no longer a parallel story but a central chapter in the global narrative. The future of football is collaborative, and that future begins in Rabat.”

The summit is made possible through the invaluable support of key partners including Royal Air Maroc and TAQA, who have demonstrated their commitment to elevating Morocco’s status in international sports, along with other esteemed organizations such as APO Group or Monterrey FWC26 Host City.

Event Details:

  • Date: 9th-10th April 2025
  • City: Rabat, Morocco
  • Expected attendance: 1000 industry professionals from 50 countries

For more information about World Football Summit’s 2025 events and registration details, visit https://NewAfrica.WorldFootballSummit.com

Distributed by APO Group on behalf of World Football Summit

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Ghana National Petroleum Corporation (GNPC) Exploration and Production Limited (Explorco) Managing Director (MD) Joins Ghana Investor Briefing to Discuss Exploration Opportunities

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Michael Aryeetey will engage investors on the exploration opportunities emerging in Ghana’s oil and gas industry during the Invest in African Energies briefing this April

ACCRA, Ghana, April 2, 2025/APO Group/ –Michael Aryeetey, Managing Director of the Ghana National Petroleum Corporation’s (GNPC) upstream-focused subsidiary GNPC Exploration and Production Limited (Explorco), has joined the Invest in African Energies: Accra Investor Briefing on April 14, 2025. Aryeetey will take part in a discussion on Advancing Exploration Opportunities in Ghana, sharing insight into Explorco’s project portfolio and expansion strategy.

With 17 oil and gas projects in the pipeline until 2027, Ghana is pursuing enhanced exploration and production to stabilize the market and unlock greater returns. For its part, the GNPC – through Explorco – has been at the helm of this growth, intensifying its exploration efforts to unlock new hydrocarbon reserves and sustain Ghana’s long-term energy security. In 2025, the company is seeking play-opening discoveries in the onshore Voltaian basin, with an exploration well planned this year. The onshore basin covers an area of 100,000 km² and could be a game-changer for the country. The GNPC has invested $160 million in seismic data acquisition across the basin, aimed at identifying geological structures and supporting future exploration targets.

Ghana offers significant growth opportunities for exploration and production firms, and Explorco is leading the way towards unlocking the country’s petroleum basins

Explorco was established to strengthen GNPC’s interests in exploration and production activities across Ghana. In alignment with the GNPC’s broader industry goals, the company implemented short-term objectives in February 2025 to enhance oil production and attract investment through collaboration, innovation and operational efficiency. Progress has already been seen to achieve these goals, with international oil company partnerships and GNPC-led upstream projects underway. In 2024, the country reported a 10.7% increase in oil production, with operations in the Jubilee South East project – led by Tullow Oil – contributing to a rise in output.

Energy major Eni and the GNPC also committed to strengthening cooperation in March 2025 under efforts to boost exploration and production in Ghana. The companies aim to pursue joint goals, including establishing joint ventures, integrating advanced technologies and investing in local capacity. Eni currently operates the Offshore Cape Three Points integrated project alongside Vitol and GNPC.

Meanwhile, working alongside international partners, the GNPC targets several offshore drilling programs in 2025. Tullow Oil is set to drill one producer and one injector well at the Jubilee field in May 2025. A 4D seismic survey is already underway at Jubilee and its adjacent field TEN, aimed at optimizing the 2025-2026 drilling program being implemented by Tullow Oil.

“Ghana offers significant growth opportunities for exploration and production firms, and Explorco is leading the way towards unlocking the country’s petroleum basins. Through strategic partnerships, cutting-edge technology and a commitment to local content development, the GNPC is shaping Ghana’s future as a competitive oil and gas producer,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber.

Taking place at the Kempinsky Hotel in Accra, the Ghana investor briefing serves as a prelude to the African Energy Week (AEW): Invest in African Energies conference this September in Cape Town. The event offers a platform for investors and project developers to explore opportunities in Ghana’s upstream market. By facilitating direct engagement between Explorco and potential investors, the event aims to unlock new partnerships that will drive exploration and production activities. Investors will gain firsthand insight into Ghana’s evolving regulatory framework, licensing rounds and infrastructure development, enabling them to make informed investment decisions.

Distributed by APO Group on behalf of African Energy Chamber

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Siemens Enters into Historic Pharmaceutical Manufacturing Deal with Miko Pharma in Ghana

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The pharmaceutical industry is a growing contributor to the Ghanaian economy, accounting for 0.8% of GDP and 21.8% of total healthcare expenditure in 2023

HANNOVER, Germany, April 2, 2025/APO Group/ —
  • Siemens partners with Miko Pharma to develop cutting-edge pharmaceutical manufacturing facilities in Ghana. 
  • The agreement aims to create 130 jobs and produce affordable, high-quality medications for various ailments. 
  • Ghana’s pharmaceutical sector is set for significant expansion, with sales forecasted to reach GH₵10.7 billion by 2028. 

Siemens (www.Siemens.com), the trusted global technology leader, has signed a landmark agreement with Miko Pharma to develop state-of-the-art facilities for the local production of life-saving generic pharmaceuticals in Ghana. This deal, one of the largest in Ghanaian pharmaceutical history, was finalized at the prestigious Hannover Messe trade show in Germany.

Siemens will be responsible for developing industrial applications, buildings, infrastructure, and utilities for Miko Pharma’s operations in Eastern Ghana, adhering to stringent World Health Organization standards.

“Our goal is to enable the manufacture of safe pharmaceutical drugs in Africa. This partnership with Miko Pharma represents a significant step towards achieving that goal. By leveraging our cutting-edge technology and unparalleled expertise, we aim to create a sustainable and self-sufficient pharmaceutical industry in Ghana. We are honoured to support our partners in this transformative journey,” says Sabine Dall’Omo, CEO, Siemens Sub-Saharan Africa.

Our goal is to enable the manufacture of safe pharmaceutical drugs in Africa

“Miko Pharma plans to create 130 jobs in the manufacturing of affordable and effective superior quality medications for the treatment of various ailments, including high blood pressure, diabetes, heart disease, HIV, malaria, and pain, in Ghana,” according to Dr Michael Obeng, CEO and founder of Miko Pharma, a Harvard-trained plastic and reconstructive surgeon and a fellow of the American College of Surgeons. “This initiative will significantly enhance healthcare accessibility in the region.”

“Being in Germany to sign this historic agreement with Siemens was a moment of immense pride for our team at Miko Pharma. This partnership is not just about building facilities—it’s about transforming healthcare in Ghana and setting a new standard for pharmaceutical production in Africa. With Siemens’ expertise, we are confident that these state-of-the-art facilities will deliver affordable, high-quality medications to those who need them most, while also creating meaningful employment opportunities. This is a pivotal step toward our vision of a self-reliant and thriving pharmaceutical sector in Ghana,” says Mr Willard Jackson, Executive Director for Miko Pharma.

This historic agreement between Siemens and Miko Pharma marks a significant milestone in Ghana’s pharmaceutical industry, promising substantial economic growth and improved healthcare accessibility. By leveraging world-class technology and expertise, this partnership aims to empower local production and create a sustainable future for pharmaceutical manufacturing in Ghana.

Overview of the pharmaceutical industry in Ghana 

Currently, 30% of pharmaceutical demand in Ghana is met by locally produced products.

The Ghana Food and Drugs Authority recorded 36 pharmaceutical manufacturing facilities with active licenses and over 3500 pharmaceutical shops by 2023.

The pharmaceutical industry is a growing contributor to the Ghanaian economy, accounting for 0.8% of GDP and 21.8% of total healthcare expenditure in 2023. Research by Deloitte Ghana indicates that pharmaceutical sales in Ghana reached GHS6.6bn (US$571mn) in 2023 and are forecasted to grow to GH₵10.7 billion (US$735mn) by 2028, driven by increased consumption within the generic medicines sub-sector. Statista projects that the pharmaceutical market in Ghana will achieve a revenue of US$254.88m in 2025.

The Siemens-Miko Pharma deal has the potential to significantly boost the local pharmaceutical manufacturing industry, surpassing previous economic forecasts.

Distributed by APO Group on behalf of Siemens AG

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