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The Gambia and the African Development Bank Group to boost rice output and uplift youth and women entrepreneurs

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African Development Bank

The African Development Bank Group is supporting the country’s efforts to produce 200,000 additional tons of paddy rice by 2028, reducing imports to zero

BANJUL, Gambia, October 3, 2023/APO Group/ — 

Gambian President Adama Barrow and African Development Bank Group (www.AfDB.org) head Dr Akinwumi Adesina pledged on Monday to work together to boost rice production and invest in the country’s vibrant youth and women entrepreneurs.

“The Russian-Ukrainian war presents an opportunity for us to solve the problem of food security. There’s no reason why Africans shouldn’t feed themselves,” President Barrow said, on the first day of Adesina’s two-day official visit to The Gambia. “We should commercialise our rice production to produce enough rice for our people.”

Local production currently meets less than 20% of the demand for rice, which is The Gambia’s staple food (https://apo-opa.info/3PGgDzN). The African Development Bank Group is supporting the country’s efforts to produce 200,000 additional tons of paddy rice by 2028, reducing imports to zero.

In addition to support for women and youth entrepreneurship in a country where around 65% of the population is under the age of 25, Barrow also identified infrastructure, particularly road construction, as a critical area for the African Development Bank’s support.

“We are grateful for the African Development Bank’s support. The African Development Bank is our bank. We are doing a lot as a government, but we need the support of the bank to expand our work,” President Barrow said.

On the first official visit by an African Development Bank Group president for more than 20 years, Adesina described The Gambia as an important shareholder since it joined the institution in 1974.

Since we have been supporting The Gambia, we have provided about $540 million in support

“Since we have been supporting The Gambia, we have provided about $540 million in support,” Adesina said. He added: “Currently, our support is quite significant. It is about $282 million, which covers energy, inequality, agriculture, governance, water and sanitation, and support for youth and women.”

Adesina highlighted the importance of the Senegambia Bridge to cross-border trade. The bridge opened in 2019. He said: “I told President Barrow how pleased I am with the Senegambia Bridge, which the African Development Bank financed at the cost of about $104 million. It is a landmark piece of infrastructure. A beautiful bridge that has improved trade between Senegal and The Gambia and the rest of the West African region.”

The African Development Bank Group is helping to cushion The Gambia from some of the impacts of Russia’s war in Ukraine, including rising food insecurity and commodity prices. It has provided about $19 million to help the country produce more food, with the objective of achieving self-sufficiency in rice production.

Support for electricity in The Gambia will bring power to about 1.3 million people. The Bank Group’s Board has approved a new $21 million project that will increase rural access to electricity, as well as several other projects.

Adesina said: “I am excited by the president’s determination to support the youth of The Gambia, and I told him that the African Development Bank is ready and willing to support and finance the creation of what we call Youth Entrepreneurship Investment Banks. These will be new financial institutions that will support young Gambian entrepreneurs to thrive. And the president was very receptive to this… He wants to see a lot of work done to support women in The Gambia.”

The African Development Bank is also supporting the establishment of its Affirmative Finance Action for Women in Africa (AFAWA) initiative in The Gambia. It will provide funding for financial institutions to lend money to women entrepreneurs at affordable rates.

“I commended the President’s efforts on infrastructure,” Adesina said. He added: “As he told me, there is no development without infrastructure, and I agree with him. He said the first, second, and third priorities for him are one and the same: infrastructure.”

The African Development Bank Group is uniquely positioned to continue providing long-term concessional financing and advisory services to The Gambia to accelerate structural transformation and address the drivers of fragility. This makes it one of the country’s preferred development partners.

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

Energy

Venezuela Energy Week Confirms 19 August Date for Houston Industry Showcase

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Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the Houston Industry Showcase will take place on 19 August, convening U.S. energy leaders ahead of Venezuela Energy Week 2027 in Caracas

HOUSTON, United States of America, August 10, 2026/APO Group/ –The organizers of Venezuela Energy Week (VEW) have confirmed that the Houston Industry Showcase will take place on 19 August 2026 at The Post Oak Hotel. Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the event will bring together U.S. energy companies, investors and policymakers to explore commercial opportunities ahead of Venezuela Energy Week 2027 in Caracas in February.

The showcase will feature Minister of Hydrocarbons Paula Henao as a keynote speaker, providing an update on Venezuela’s energy priorities, investment agenda and opportunities for international partnership. Her participation underscores the country’s commitment to strengthening engagement with global industry as it seeks to expand production and unlock new upstream investment.

Bringing together exploration and production companies, independent operators, oilfield service providers, engineering firms, technology companies and financial institutions, the Houston Industry Showcase will examine opportunities across exploration, production optimization, infrastructure rehabilitation and field development.

As Venezuela works to increase oil and gas production, demand is expected to grow for the technical expertise of U.S. service providers in drilling, well intervention, completion services, production optimization, artificial lift, digital oilfield technologies and infrastructure rehabilitation. Houston-based industry leaders – including SLB, Halliburton, Baker Hughes, Weatherford and a broad network of EPC contractors, equipment manufacturers and specialized service companies – are well positioned to support the modernization of mature fields, improve operational efficiency and deliver the technologies and services needed for future upstream projects.

The Houston event follows a successful Industry Showcase in London, which brought together international investors, operators and energy service companies to explore Venezuela’s evolving investment landscape. Building on that momentum, the Houston edition will deepen engagement with the U.S. energy industry and strengthen commercial dialogue ahead of Venezuela Energy Week 2027.

Venezuela Energy Week – the country’s largest energy investment platform to date – has been confirmed for 22–25 February 2027 in Caracas. Organized by Energy Capital & Power, the event will bring together government leaders, investors and industry stakeholders from across the global energy value chain.

To register for the Houston Industry Showcase on August 19, visit https://apo-opa.co/4g0TncR. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2027 in Caracas, contact info@venezuelaenergyweek.com.

Supporting Venezuela’s Earthquake Recovery
Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4hkvteE).

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

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Islamic Development Bank Institute (IsDBI) Secures New Patent for Smart Stabilization System from Intellectual Property Office of Singapore

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IsDBI

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility

JEDDAH, Saudi Arabia, August 10, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce that the Intellectual Property Office of Singapore (IPOS) has granted a new patent for its innovative Smart Stabilization System.

 

The patent was granted on 10 July 2026 under Singapore Patent No. 10202250873B for the invention titled “A Computer Network Stabilization System and Method.” The patent application was filed on 1 September 2022 and was formally granted following a comprehensive review process.

This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility. Leveraging sophisticated algorithms and advanced simulation models, the system is designed to anticipate supply and demand imbalances and implement programmable stabilization measures before they escalate into market disruptions.

Unlike traditional stabilization mechanisms that rely on capital reserves, buffer funds, or external interventions, the Smart Stabilization System introduces a next-generation framework for achieving autonomous market stabilization through proactive and programmed stabilization mechanisms. By incorporating distributed ledger technology and cryptographic trust mechanisms, the platform enhances transparency, trust, and operational resilience for digital asset and commodity markets.

The successful patent grant reflects IsDBI’s growing contribution to technological innovation and its commitment to developing knowledge-based solutions that address contemporary economic and development challenges.

Since filing the patent application back in 2022, the Institute has continued to advance the Smart Stabilization System through ongoing development and testing, aimed to expand its practical applications and support future capitalization opportunities. These advancements have positioned the system as a potentially transformative solution for enhancing stability and resilience in increasingly digital and interconnected economies.

Commenting on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said, “The grant of this patent by the Intellectual Property Office of Singapore further strengthens the Institute’s position as a leader in developing innovative knowledge-based solutions that leverage modern technologies to address complex development challenges. This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development.”

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

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

 

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