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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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At the heart of Africa’s fintech evolution: Exness opens new Cape Town regional hub

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As fintech innovation reshapes Africa’s financial landscape, Exness strengthens its investment in the region, combining global expertise with local talent to serve a new generation of traders

CAPE TOWN, South Africa, December 11, 2025/APO Group/ –Exness (www.Exness.com), one of the world’s largest multi-asset brokers, has officially opened its new office in Cape Town, marking a major milestone in its long-term commitment to traders and partners in Sub-Saharan Africa (SSA).

As fintech innovation continues to accelerate across the region, South Africa has emerged as a natural hub for financial technology and digital inclusion. With one of the most advanced financial systems in Africa and a thriving ecosystem of start-ups and talent, Cape Town offers a unique blend of innovation and opportunity, making it the ideal regional hub for Exness.

The new state-of-the-art office serves as the center of Exness’ operations in South Africa and across the SSA region. It will house local professionals providing local expertise and insights, ensuring that clients across the region benefit from local insight and global-standard service.

This office is more than a space; it’s a reflection of our long-term commitment to traders in the region

Petr Valov, Exness co-founder and CEO, expressed, “The opening of our Cape Town office marks a new chapter for Exness, one that involves innovation and regional growth. We see immense potential in SSA and our investment here reflects our confidence in the region’s growth and in the incredible talent driving it.”

The office’s inauguration brought together Exness executives, local partners, and media representatives to celebrate this significant milestone. The event featured a ribbon-cutting ceremony, speeches from the company’s senior management, and a reception with the regional team, underscoring Exness’ deepening roots in the region.

The celebration continued with the Creators (EX)perience held at Killarney International Raceway’s Joubert Pits,  where Exness hosted an adrenaline-charged event that embodied the brand’s values of precision and prestige. The day featured a supercar showcase and F1-style pit stop challenges, bringing the energy of motorsport to life. Guests also participated in a high-intensity racing simulator competition, where their reflexes were put to the test in a virtual tournament.

Paul Margarites, Exness Regional Commercial Director, commented, “By building a strong local presence, we are bringing our global expertise closer to our traders. This office is more than a space; it’s a reflection of our long-term commitment to traders in the region.”

By combining cutting-edge trading infrastructure with local expertise, Exness is empowering traders with access, confidence, and better-than-market conditions. Exness’ growing Sub-Saharan Africa operations are supported by its Financial Sector Conduct Authority (FSCA) license in South Africa and its Capital Markets Authority (CMA) license in Kenya, reinforcing the company’s commitment to responsible, transparent, and regulated operations across the continent.

Distributed by APO Group on behalf of Exness.

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Africa Investment Forum: Major Boost for African Private Sector as Caisse de Dépôt et de Gestion (CDG) Invest Joins Growth and Resilience Platform for Africa (GRAf) Platform

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Agreement signed by CDP, AfDB and CDG Invest aims to foster joint investments, promote international cooperation, and channel capital toward key sectors of the African economy under the Mattei Plan

RABAT, Morocco, December 3, 2025/APO Group/ –Cassa Depositi e Prestiti (CDP), the African Development Bank (www.AfDB.org) , and CDG Invest, part of the Caisse de Dépôt et de Gestion (CDG) Group, have signed a landmark agreement formalising CDG Invest’s entry into the Growth and Resilience Platform for Africa (GRAf). The agreement was announced in Rabat during the 2025 Market Days, the three-day centerpiece event of the Africa Investment Forum.

GRAf is a co-investment platform promoted by CDP and the African Development Bank Group as part of the implementation of Italy’s Mattei Plan for Africa. CDP is Italy’s flagship development finance institution. Under the Mattei Plan for Africa, Italy aims to foster economic and strategic partnerships with African nations and institutions. The African Development Bank Group is Italy’s main strategic financial partner for implementation of the plan.

GRAf seeks to create an ecosystem of investors committed to sharing opportunities and expertise in Africa’s private sector, generating tangible impacts on the real economy—from job creation to improving essential products and services. The platform supports the African private sector through indirect investments deployed via investment funds, with a goal of mobilising up to €750 million over five years. Target sectors include food security, SME development, and sustainable infrastructure.

Aligning with the objectives of the Mattei Plan, CDP leverages its resources and expertise to foster mutual growth, supporting international investment opportunities and the global reach of Italian enterprises. As a key champion of the Mattei Plan, a CDP delegation participated in Market Days 2025 to further these collaborations and showcase activities including promoting the crucial role of the private sector in advancing sustainable development across Africa and promoting financial instruments available to support private enterprise.

CDP also attended an event organised by the International Development Finance Club (IDFC) to launch the  Cooperation 4 Development Investment Forum—a platform designed to strengthen cooperation among development banks to promote co-financing and joint projects. IDFC brings together 27 institutions, including CDP, with the aim of consolidating global financial architecture and accelerating sustainable investments.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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G20 Summit: Norway reaffirms support to Africa’s development with NOK 3.1 billion pledge to the African Development Fund’s seventeenth replenishment

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The seventeenth replenishment of the African Development Fund will be finalized at a pledging session in London from 15 to 16 December 2025

ABIDJAN, Ivory Coast, December 2, 2025/APO Group/ –Norway reaffirmed its long-standing commitment to Africa’s low-income countries with a NOK 3.1 billion pledge to the African Development Fund’s seventeenth replenishment (ADF-17). The announcement, made during the Global Citizen Now: Johannesburg event, held on 21 November, was later reiterated in a bilateral meeting between Norwegian Prime Minister Jonas Gahr Støre and African Development Bank Group President Dr Sidi Ould Tah (http://AfDB.org).

The pledge includes a core ADF-17 contribution of NOK 2,377 million, representing a 5.79 percent increase from ADF-16. Norway also confirmed continued support to the Fund’s Climate Action Window with a commitment of NOK 150 million. Earlier in 2025, Norway contributed NOK 50 million to the Climate Action Window (https://apo-opa.co/3Y1GAhz) becoming its fifth investor.

Dr Sidi Ould Tah welcomed the announcement, saying: “Norway has been a highly valued partner of the African Development Fund. My discussion with the Prime Minister underscored our shared focus on youth opportunity, sustainable growth, and strong partnerships. Norway’s support to ADF-17 will help the Fund expand its impact at a decisive moment for Africa’s most vulnerable economies.”

Norway’s support to ADF-17 will help the Fund expand its impact at a decisive moment for Africa’s most vulnerable economies

Norway has participated in every replenishment of the African Development Fund since joining in 1973 and continues to prioritize core support that enhances predictability and responsiveness. According to the Norwegian Government’s official statement, this contribution reflects Norway’s commitment to improving access to food, electricity, water and sanitation, health services, education, and jobs for people living in the world’s most vulnerable contexts.

In the Norwegian government’s official statement (https://apo-opa.co/4pDTZIr), Prime Minister Jonas Gahr Støre said: “All countries share a responsibility to work to build a more peaceful and more equitable world. This funding will go towards improving the lives of some of the world’s poorest people. It will be used, among other things, to provide people with access to food, electricity, water and sanitation, health services, education and jobs.”

Norway further noted that the contribution forms part of the follow-up to its 2024 strategy for engagement with African countries (https://apo-opa.co/48cmAPk). Norway recognizes the African Development Fund’s integral role in initiatives such as Mission 300 (https://apo-opa.co/3MfEtEf), which aims to expand electricity access to 300 million people in Africa by 2030.

The African Development Fund is the concessional window of the African Development Bank Group and a key source of financing for 37 low-income African countries. Since 1972, it has supported essential investments in energy, transport, agriculture, regional integration, and governance through grants, highly concessional loans, and guarantees.

The seventeenth replenishment of the African Development Fund will be finalized at a pledging session in London from 15 to 16 December 2025, when development partners will confirm their contributions.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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