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SriLankan Airlines CEO says ‘it’s the best time to visit island of serendipity’

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SriLankan Airlines

SriLankan Airlines Chief Executive Officer Richard Nuttall said that it is the best time to visit Sri Lanka.  

“There has never been a better time to visit (the country) as  the hotels have low occupancy and the Sri Lankan currency is devalued. The government, SriLankan Airlines and all participants in the tourism industry are aligned and doing everything possible to support the return of tourism in the coming months,” he said, in an exclusive interview with the Times of Oman.
He also welcomed the government’s plans to privatise the airline. “I believe that it will offer greater opportunities for the organisation in terms of a much-needed capital infusion and the streamlining of decision-making,” he said.
Excerpts from the interview:

Q: I have heard that SriLankan Airlines made a profit this year. Is this true? How come this was possible?
A: SriLankan Airlines was profitable for the last four months of the year ending March 2021. We were also operationally profitable for the first six months of the current financial year starting April. However, given the high interest rates in Sri Lanka and the extra costs of operating for two months without jet fuel in our home base, we could not quite cover financing costs. These results are based on unaudited management accounts which are USD based. We went to great lengths to contain costs by restructuring aircraft leases, supplier contracts and other operating expenses during the pandemic. Consequently, we now have a relatively efficient cost base. Further, as traffic has restarted since the pandemic, we have been very agile in adjusting the network based on passenger demand and by distributing any spare capacity based on route profitability.

Q: What new routes are you planning?
A: 
Our priority right now is to restore capacity to match pre-COVID-19 levels in markets where we have a competitive edge. In the last year or so, we have restarted Paris and Frankfurt, and we launched Incheon and Sydney. We are always on the lookout for new market opportunities as the demand for commercial air travel steadily grows. However, our current priority is to increase frequencies on our current network which includes a number of countries where traffic levels are still recovering after COVID-19.

Q: Any plans to increase flights from Muscat? What is the load factor on this route?
A: 
We will most likely maintain the same flight frequency to Muscat through the winter of 2022 and into 2023. SriLankan’s passenger load factor on the Muscat route is just over 70 per cent this financial year, and we will not hesitate to increase capacity if the demand for the route increases.

Q: How are you handling the fuel shortage situation?
A: 
We faced some challenges as jet fuel was largely unavailable in Sri Lanka during July and August. However, the airline’s operational departments and suppliers came together and we were able to maintain most of our network by fuel tankering and tech stops to pick up fuel. Thus, maintaining Sri Lanka’s air links during the summer peak was an extraordinary achievement. Unfortunately, this came at a considerable cost at a time when we need funds to maintain and grow our fleet to meet the needs of the Sri Lankan economy. The good news is that the situation has eased since then, and the Ceylon Petroleum Corporation has assured us a steady supply of jet fuel. We are now able to operate our long-haul flights without any technical stops for refuelling.

Q: What are your thoughts on privatisation of SriLankan Airlines?
A: 
We welcome the Government’s plans to privatise the airline and believe that it will offer greater opportunities for the organisation in terms of a much-needed capital infusion and the streamlining of decision-making.

Q: How did the economic crisis hit SriLankan Airlines this year? And how is it planning to come out of it?
A: 
Sri Lanka is undergoing a severe financial crisis at the moment, but its impact on SriLankan Airlines has been minimal since the airline generates a vast majority of its sales in foreign currency from overseas territories. As the national airline, SriLankan is duty-bound to support Sri Lanka in this hour of need and we help by facilitating tourism and exports.

Q: Is the island of serendipity ready to welcome tourists despite what is happening inside Sri Lanka?
A: 
We believe that the country’s situation was overplayed in foreign media. There was a period for a few weeks when fuel shortages created uncertainty for travel, but otherwise the country has been completely safe for tourism. Now, whilst hotels still have low occupancy and the Sri Lankan currency has devalued, there has never been a better time to visit it. The Government, SriLankan Airlines and all participants in the Tourism industry are aligned and doing everything possible to support the return of tourism in the coming months.

Q: Did the airline restore all its pre- COVID routes?
A: 
We have resumed flights to almost all the destinations that we flew to pre-pandemic, and will be able to restore our capacity to 90 per cent of our pre-COVID-19 capacity levels in the next financial year.

Q: Flights to Indian cities are very important for Muscat-based passengers. Any plans to increase connectivity with Indian cities?
A: 
India is a key market for us with regard to inbound tourism to Sri Lanka and transit traffic via Colombo. We are planning to increase capacity to India as a priority in line with the growth in demand. Current demand is well below pre-pandemic levels, but we expect this to rebound in the coming months, with a considerable growth in the number of flights.

Q: Are you going ahead with new fleet procurement?
A: 
SriLankan Airlines needs to replace some of the older aircraft in its fleet that have imminent lease expirations. We are currently in discussions with our main stakeholder, the Government of Sri Lanka, which understands the need to agree on plans in this regard.

Source: Times of Oman

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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