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Strong 2021 Results Lays Foundation for Recovery in 2022

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ICIEC is also proud to report that its membership grew to 48 Member States in 2021

SHARM EL SHEIKH, Egypt, June 5, 2022/ — The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (http://ICIEC.IsDB.org), the Insurance arm of the (IsDB) Group, has released its Annual Report and Audited Financial Statements for 2021, upon approval from its Board of Governors on 04th June 2022.

The Corporation, a member of the Islamic Development Bank Group (IsDB) Group, has once more demonstrated resilience in a year of unprecedented risks, shifting priorities and continuing global impacts of the pandemic. In 2021, ICIEC insured a near-record of USD 9.8 billion with Corporate Net-Results equally strong at USD 9.3 million significantly surpassing targets. Since its inception, ICIEC has supported exports, imports, and foreign direct investments with a cumulative amount of USD 83.3 billion.

ICIEC is also proud to report that its membership grew to 48 Member States in 2021, welcoming Maldives to the ICIEC community.

Based on its performance, ICIEC has maintained, for the 14th consecutive year, an Aa3 rating by Moody’s – which is one of the strongest in the Export Credit and Political Risk Insurance industry. Our strong credit rating reflects our resilience, standalone fundamentals, as well as the strong willingness of our key shareholders, including the IsDB (AAA stable) and our Member States, to support ICIEC in times of financial distress.

In 2021, ICIEC supported a combined USD 4.5 billion of intra-trade and intra- investment among OIC countries, representing an 11% decrease as compared to the previous year. Of that, USD 3.7 billion represented intra-OIC trade among OIC countries, and USD 0.8 billion represented intra-investment among OIC countries. ICIEC support for trade and investment has helped MSs to achieve long-term sustainable development. ICIEC catalyzes impact by supporting transactions and projects that contribute to the SDGs. Through these SDGs, a call to action has been established to eradicate poverty, protect the environment, and improve the lives of everyone on Earth. Of the 17 SDGs, ICIEC is prominently committed to 6 goals that are directly related to its mandate.

Releasing the 2021 Annual Report, the Chief Executive Officer of ICIEC, Mr. Oussama KAISSI, expressed optimism about the Corporation’s prospects for 2022, stating “like all successful organizations, we have core priorities that give focus to our operations and enable our success. ICIEC priorities include the delivery of development impact, enabling Islamic finance, the development of value-based partnerships, and enabling excellence in both our staff and industry. In times of difficulty and volatility, we stand firmly behind our member states as the only Shari’ah-compliant multilateral export credit and investment insurance provider in the world“.

Mr. KAISSI went on to say “I would like to take this opportunity to thank the dedicated ICIEC team, whose hard work has been the backbone of its continued success. I would also like to thank His Excellency the Chairman, along with the Honorable Members of the Board of Governors and Board of Directors. They have been integral in providing guidance through their unparalleled wisdom and experience to navigate through its most challenging year for ICIEC. Their dedication to our success continues to inspire us and our decision-making in pursuit of delivering the best possible development solutions to our Member States“.

Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). More News

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Ministers and Chief Executive Officers (CEOs) to Convene at Invest Africa’s 12th Annual Mining Series

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Invest Africa

With demand for transition metals expected to grow fivefold by 2050 as the world shifts to cleaner energy, Africa’s mining sector will play a pivotal role in driving the global energy transition

CAPE TOWN, South Africa, January 23, 2025/APO Group/ — 

Invest Africa (www.InvestAfrica.com), a leading pan-African trade and investment platform, is excited to announce Aon as the Headline Partner for its 12th Annual Mining Series alongside Mining Indaba 2025. With demand for transition metals expected to grow fivefold by 2050 as the world shifts to cleaner energy, Africa’s mining sector will play a pivotal role in driving the global energy transition. Mining Series 2025 will convene government leaders, industry experts, and investors to examine how Africa can leverage its resources for sustainable and inclusive growth in an ever-evolving global market.

Confirmed speakers include: Mr Dean William Macpherson, Minister of Public Works and Infrastructure, Republic of South Africa; Dr Kgosientsho David Ramokgopa, Minister of Electricity, Republic of South Africa; H.E. Antony Phillipson, High Commissioner to South Africa, United Kingdom; Marna Cloete, President, Ivanhoe Mines; Marie-Chantal Kaninda, President, Glencore DRC; and Brian Menell, Chairman and CEO, TechMet; alongside other prominent leaders from government and industry [(for the full programme, click here (https://apo-opa.co/3PNtMr8)].

“The mining sector is at a crossroads as it navigates the dual challenges of accelerating demand for transition metals and the need for greater sustainability and transparency,” said Dr Nolwandle Mgoqi, Chief Executive Officer, Aon South Africa“Africa holds the key to powering the energy transition, but unlocking this potential requires a forward-thinking approach to risk management, resilient supply chains, and transformative technology. Aon is honoured to partner with Invest Africa in fostering critical dialogue and innovative solutions to shape the future of mining.”

Through the Mining Series, our mission is to shine a spotlight on opportunities across the continent and catalyse partnerships that unleash the full potential of Africa’s resources

“We’re seeing a tremendous appetite for investment in Africa’s mining sector,” said Chantelé Carrington, Chief Executive Officer, Invest Africa“Through the Mining Series, our mission is to shine a spotlight on opportunities across the continent and catalyse partnerships that unleash the full potential of Africa’s resources while ensuring sustainable and inclusive growth.”

Invest Africa is deeply grateful to all our partners for their support of the 12th Annual Mining Series, including: Absa, Afreximbank, Africa Finance Corporation, Aon, Black Mountain, Growth Gateway, Loinette Capital, Premier Invest, and S-RM.

To register for the 12th Annual Mining Series, please click here (https://apo-opa.co/4jtTWg4).

Distributed by APO Group on behalf of Invest Africa.

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SLB to Showcase Strategic Investments, Cutting-Edge Innovations at Invest in African Energy (IAE) 2025

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SLB

Group Managing Director of West Africa, Jean-Marc Kloss, will highlight SLB’s latest projects and investments, including new initiatives in Angola, Libya and Algeria that focus on boosting production and integrating advanced technologies

PARIS, France, January 22, 2025/APO Group/ — 

Jean-Marc Kloss, Group Managing Director of West Africa at SLB, will speak at the Invest in African Energy (IAE) Forum, taking place in Paris this May. As a recognized leader in energy innovation and services, Kloss will share insights on SLB’s ongoing investments and evolving role in driving sustainable growth across Africa’s oil and gas sector.

SLB continues to make major strides in Africa’s energy landscape, particularly in Angola, where the company is launching its Integrated Performance Excellence Center in Luanda, playing a crucial role in supporting local operators and clients in the country and broader region. The center is designed to support full life-cycle oil and gas projects, focusing on improving production efficiency, reducing losses and maximizing economic recovery from developed fields. SLB’s participation at the forum showcases its commitment to enhancing Angola’s energy capabilities, with a focus on innovative solutions that drive operational success and contribute to the country’s long-term energy goals.

IAE 2025 (www.Invest-Africa-Energy.com) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

SLB’s projects in Angola, Libya and beyond exemplify its commitment to leveraging innovation and local expertise to advance Africa’s energy sector

In September last year, SLB unveiled its Lumi Platform, a new technology designed to support upstream and midstream operations in Angola. The company also released an integrated dataset covering the offshore Kwanza Basin, combining 11 separate datasets into a unified 40,000 km². This valuable resource will be crucial for companies interested in Angola’s upcoming 2025 Bid Round, with licensing rounds expected to be a key feature of the forum, highlighting the strategic alignment of SLB’s efforts with the broader industry discussions.

Kloss is also expected to discuss SLB’s work in Libya, where the company has entered into a strategic partnership with Waha Oil Company to boost production and develop local technical expertise. SLB’s contribution to Libya’s energy sector includes advanced reservoir studies, horizontal drilling techniques and simulation analyses to optimize oil recovery. These initiatives are expected to add approximately 100,000 barrels per day to Libya’s production, reinforcing SLB’s commitment to driving economic growth in North Africa.

SLB has announced plans to expand its presence in Algeria. In the Berkine Basin, SLB has been a key player in deploying advanced technologies like horizontal drilling and hydraulic fracturing, significantly improving hydrocarbon recovery from challenging reservoirs. Additionally, its expertise in seismic data interpretation has helped identify new reserves and extended the life of existing fields. At Hassi Messaoud, SLB has applied enhanced oil recovery methods to optimize extraction rates from the mature field. As part of its expanded operations, SLB is committed to introducing cutting-edge solutions and investing further in Algeria’s oil and gas sector, aligning with the country’s strategy to increase production and export capacity.

“SLB’s projects in Angola, Libya and beyond exemplify its commitment to leveraging innovation and local expertise to advance Africa’s energy sector,” said Sandra Jeque, International Conference Director, Energy Capital & Power. “The upcoming IAE 2025 serves as a platform to showcase these developments and facilitate discussions on the continued role of technology and partnerships in shaping the future of African energy.”

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

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Invest Africa and Premier Invest Announce Strategic Partnership to Catalyse Investment in Africa

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Invest Africa

This partnership will leverage key events for the global Africa-focused investment community, bringing together investors and corporates who are committed to the continent’s progress

LONDON, United Kingdom, November 13, 2024/APO Group/ — 

Invest Africa (www.InvestAfrica.com), the leading pan-African business platform, is proud to announce a strategic partnership with Premier Invest, a global investment conglomerate, aimed at driving transformative investment into Africa. This collaboration is set to identify and unlock new avenues for growth, innovation, and sustainable development across the continent through a series of targeted engagements, including The Africa Debate in London and the UAE, as well as Invest Africa’s Mining Series, held alongside the annual Mining Indaba conference.

This partnership with Invest Africa marks a significant milestone for Premier Invest as we seek to deepen our engagement in Africa and other emerging markets

As Africa stands on the brink of a new era of economic transformation, this partnership will leverage key events for the global Africa-focused investment community, bringing together investors and corporates who are committed to the continent’s progress and prosperity.

Chantelé Carrington, CEO of Invest Africa, commented on the partnership: ”Africa is entering a pivotal phase of economic transformation, and ensuring that the right investment and expertise are directed to the continent is crucial. Our partnership with Premier Invest is a great step towards this objective. By tapping into our expansive network, strategic communications, and robust events programme, we look forward to working alongside Premier Invest to channel the much-needed investment flows that will drive Africa’s growth.”

Rene Awambeng, Managing Partner of Premier Invest, added: “This partnership with Invest Africa marks a significant milestone for Premier Invest as we seek to deepen our engagement in Africa and other emerging markets. Invest Africa’s unrivalled network and market insights will be invaluable as we work together not only to identify and capture high-growth opportunities but also to contribute meaningfully to the economic development of the regions we serve, particularly across Africa.”

This partnership exemplifies the shared commitment of Invest Africa and Premier Invest to harness the full potential of capital in Africa and beyond. By uniting our strengths, we are laying the groundwork for transformative investments that will fuel economic growth and development for years to come.

Distributed by APO Group on behalf of Invest Africa.

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