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The International Islamic Trade Finance Corporation (ITFC) signs its largest Syndicated Murabaha Trade Financing Agreement

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ITFC

US$ 189 million Trade Financing to Support Procurement of Petroleum Products, Food, and Medical Supplies and Signing of MoU to Support Trade Related Technical Assistance in the Fishing Industry

MALÉ, Maldives, September 26, 2022/APO Group/ — 

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), a member of the Islamic Development Bank Group (IsDB), signed two landmark agreements to support the essential commodities sector in the Republic of Maldives witnessed by H.E. Ibrahim Ameer, Minister of Finance and IsDB Governor, Maldives, during an official visit of Eng. Hani Salem Sonbol, Chief Executive Officer, ITFC.

A US$ 189 million financing was signed by Mr. Husen Amru Mohamed Rashad, Chief Executive Officer and Managing Director, State Trading Organization plc (STO), Republic of Maldives and Eng. Hani Salem Sonbol, Chief Executive Officer, ITFC. This financing which is a renewal and increase of an existing Murabaha trade facility will provide support for the procurement of petroleum products, staple food, medicine, and medical equipment to aid in the country’s economic recovery from the COVID-19 pandemic.

Capacity building and technical assistance initiatives offered to MIFCO is expected to boost the fisheries sector’s competitiveness

The second agreement is a Memorandum of Understanding (MOU) and signed by Mr. Husen Amru Mohamed Rashad, Chairman of Maldives Industrial Fisheries Company Ltd. (MIFCO) and Eng. Hani Salem Sonbol, CEO ITFC, to support MIFCO with the relevant Trade-Related Technical Assistance. This MOU is aimed at enhancing the competitiveness of MIFCO and it access to global markets. The fishing industry in the Maldives is the nation’s second-biggest industry after tourism, employing half of the country’s workforce and providing a livelihood for the population.

Speaking during the ceremony, ITFC CEO, Eng. Sonbol commented: “ITFC is extremely pleased to sign its largest syndicated trade finance agreement with STO to finance the import of strategic commodities to support the recovery of the economy from the pandemic. Apart from the support extended on the trade financing front, the MoU with MIFCO is also a major milestone given the fishing sector’s strategic importance to the economy.  Capacity building and technical assistance initiatives offered to MIFCO is expected to boost the fisheries sector’s competitiveness.  We therefore look forward to continuing our trade finance and development support of the Maldives.” 

Mr. Husen Amru Mohamed Rashad, Chief Executive Officer and Managing Director, State Trading Organization plc, Republic of Maldives also reiterated that the successful long-standing partnership and cooperation between Maldives and ITFC, considering the support it provides to procurement of essential commodities. He also stressed that the MOU signed to support capacity development of MIFCO was an important step, which will directly benefit growth of fisheries sector.

STO CEO, thanked ITFC for its continued support, highlighting that the renewal of enhanced facility comes at a critical time as global commodity prices at highest due to ongoing war in Russia-Ukraine and country face the economic recovery from pandemic. The facility will enable to ensure energy, food and medicine security in the country, while supporting economic stability and growth in key sectors.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

Business

Canada–Africa Financing Forum to Convene Investors and Decision-Makers in Cape Town – May 14, 2026

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Ateau Zola

This timely Forum comes on the heels of commitments announced by Canadian Prime Minister Mark Carney, deepening Canada–Africa commercial ties and expanding investment partnerships

TORONTO, Canada, April 29, 2026/APO Group/ –The Canada–Africa Chamber of Business (https://CanadaAfrica.ca) will convene investors, financiers, policymakers, and industry leaders in Cape Town on May 14, 2026 for the Canada–Africa Financing Forum—a high-level platform focused on unlocking capital and accelerating deal flow across African markets.

Registration is open (http://apo-opa.co/4vZN6oV)

This timely Forum comes on the heels of commitments announced by Canadian Prime Minister Mark Carney, deepening Canada–Africa commercial ties and expanding investment partnerships. The program connects leaders from venture capital, private equity, and institutional investors to examine where capital is moving—and where the next opportunities lie—supported by Canadian project partners with proven capacity to deliver on-the-ground.

Delegates will engage directly with finance and investment decision-makers, following the program opening, featuring messages from President Cyril Ramaphosa and Prime Minister Mark Carney, in addition to high-level Ministerial representation.

This Forum is about capital deployment, not just conversation

“This Forum is about capital deployment, not just conversation,” said Garreth Bloor, President of the Canada–Africa Chamber of Business. “We are convening investors, institutions, and project leaders who are actively shaping transactions across Africa—and connecting them directly with Canadian partners who are ready to work together.”

The Canada–Africa Financing Forum reflects the Chamber’s role as a privately financed, market-led platform advancing Canada-Africa trade and investment through world-class networking and information-sharing events.

Why Attend

  • Direct access to active dealmakers and capital allocators
  • Insights into where capital is being deployed and key players delivering major projects
  • Opportunities to build partnerships across Canada and African markets
  • Participation in a curated, high-level environment focused on execution

Secure Your Place

Space is limited and demand is strong.

Apply to secure your place (http://apo-opa.co/4vXb9oz)

Read More and View the Program (http://apo-opa.co/4vZN6oV)

Distributed by APO Group on behalf of The Canada-Africa Chamber of Business.

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ORUN and 1xBET Partner to Support a Dynamic Creative Africa

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MIR Holding

During the MASA 2026 edition, held from April 11 to 18, 2026, ORUN and 1xBET implemented the We Champion Talent program, an initiative aimed at promoting African talent and advancing the development of Cultural and Creative Industries (CCIs)

ABIDJAN, Ivory Coast, April 28, 2026/APO Group/ –As part of the Innovation Village co-organized with MASA at the Palais de la Culture in Abidjan from April 14 to 18, ORUN (https://ORUN.Africa) announces the rollout of its partnership with 1xBET to support a creative Africa that is structuring itself, professionalizing, and scaling across the continent.

We aim to demonstrate that it is possible to support African talent, narratives, and creative ecosystems over the long term, with ambition and consistency

Designed as a space of convergence between heritage, innovation, and knowledge transmission, the Innovation Village features scenography crafted by Ivorian artisans, a program of panels and masterclasses on creative industries, an immersive experience produced by Orun Studios, and a major institutional highlight on April 17. Its narrative platform is built around three pillars: memory, structure, and transmission. The initiative aims to position cultural and creative industries as an economic driver for the continent.

“The Innovation Village was conceived as an act of construction. By partnering with organizations such as 1xBET, we aim to demonstrate that it is possible to support African talent, narratives, and creative ecosystems over the long term, with ambition and consistency,” said Habyba Thiero, CEO of Africa Currency Network and President of ORUN.

This vision aligns with ORUN’s broader ambition to produce, structure, and internationalize African creative industries through events, content, and strategic partnerships.

Distributed by APO Group on behalf of ORUN, part of African Currency Network (ACN).

 

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MIR Holding Reaffirms Its Commitment to African Creative Industries Alongside ORUN at Marché des Arts du Spectacle Africain d’Abidjan (MASA) 2026

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MIR Holding

More than event support, this partnership reflects a commitment to backing platforms capable of structuring value chains, increasing the visibility of talent, and fostering the emergence of strong African creative infrastructures

ABIDJAN, Ivory Coast, April 28, 2026/APO Group/ –On the occasion of MASA 2026, held from April 11 to 18 in Abidjan, MIR Holding (https://MIRHolding.odoo.com) reaffirmed its commitment to supporting the growth of African creative industries by partnering with ORUN as part of the Innovation Village, hosted at the Palais de la Culture in Abidjan. This presence reflects a clear intention to support the scaling of cultural and creative industries so they can fully contribute to job creation and value generation across the continent.

 

Co-organized by ORUN and MASA, the Innovation Village brought together over several days scenography designed by Ivorian artisans, a program of panels and masterclasses dedicated to creative industries, an immersive experience produced by Orun Studios, and a key institutional highlight on April 17.

At MIR Holding, we believe that Africa’s future will also be shaped by its ability to structure its narratives, its talent, and its creative value chains

Built around three pillars — memory, structure, and transmission — the initiative carried a renewed ambition for culture: positioning it as a concrete lever for economic structuring and African projection.

By supporting this initiative, MIR Holding aligns with a broader dynamic aimed at strengthening connections between creation, entrepreneurship, content, youth, and growth ecosystems. More than event support, this partnership reflects a commitment to backing platforms capable of structuring value chains, increasing the visibility of talent, and fostering the emergence of strong African creative infrastructures. MIR Holding stands among the main partners of the Village, alongside Africa Currency Network and other stakeholders engaged in this vision.

“With ORUN, we are not only seeking to make culture visible. We aim to help provide it with a framework, a reach, and a trajectory. What is at stake here is the continent’s ability to better transform its creative energy into sustainable value, real opportunities, and influence,” said Habyba Thiero, CEO of Africa Currency Network and President of ORUN.

Mouhamed Dieng, President of MIR Holding, added: “Supporting Africa’s creative industries is not about backing a secondary sector. It is about investing in one of the continent’s most powerful spaces for storytelling, youth, innovation, and competitiveness. At MIR Holding, we believe that Africa’s future will also be shaped by its ability to structure its narratives, its talent, and its creative value chains.”

Distributed by APO Group on behalf of MIR Holding.

 

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