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The ITFC Unveils the Annual Development Effectiveness Report (ADER) Titled ‘Towards a Resilient Trade’

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4 years ago

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Islamic Trade Finance Corporation

ITFC’s role is to ensure that the Corporation’s resources are deployed where they have the greatest catalytic role in attracting private capital and addressing market gaps

JEDDAH, Kingdom of Saudi Arabia, July 5, 2022/APO Group/ — 

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), a member of the Islamic Development Bank Group (IsDB), has officially unveiled the Corporation’s Annual Development Effectiveness Report (ADER), titled ‘Towards a Resilient Trade’. 

The main themes showcased in the ADER report include the following:

  • Sustaining critical supply chains in member countries,
  • Fostering an inclusive trade through support to MSMEs, smallholder farmers, and women,
  • Laying out the foundation for sustainable and green trade.

Commenting on the official launch of the Report, Eng. Hani Salem Sonbol, Chief Executive Officer of ITFC, stated: “At ITFC, achieving results in terms of development effectiveness, or contribution to development, is just as crucial as the amount of trade we finance. This is the reason ITFC is also emphasizing ways to promote inclusive trade, rising to the challenge of regional integration, fostering partnerships to achieve the UN SDGs, and continuing to lay the foundation for sustainable trade. We are pleased to formally present an overview of the sixth edition of the ITFC’s Annual Development Effectiveness Report in this context. The pandemic has demonstrated that partnership and synergy provide the best pathway for dealing with global emergencies, enabling us to make a bigger impact that acts as a strong catalyst for development.”

ITFC provided SMEs, smallholder farmers, and female-led businesses, with access to finance and a unique network and platform to connect to markets

ITFC’s role is to ensure that the Corporation’s resources are deployed where they have the greatest catalytic role in attracting private capital and addressing market gaps. Despite the challenges presented by the ongoing COVID-19 pandemic, ITFC and the Corporation’s strategic partners delivered some impactful results in 2021 as the ADER report highlights:

  • ITFC approvals and disbursements in 2021 reached new heights with US$6.5 billion and US$5.1 billion, respectively
  • Disbursements to Least Developed Member Countries amounted to US$1.5 billion, benefitting nine countries and up 25 percent compared to 2020
  • Intra-OIC trade financed amounted to US$4 billion, with cumulative approvals to support trade between OIC member countries reaching US$44 billion since the institution’s inception
  • Capacity to leverage funds exceeded targets and expectations as the Corporation mobilized a record US$4.5 billion from Syndicate Partners in the market, up 84 percent compared to 2020. Out of every US$5 dollars approved by ITFC, US$4 was mobilized from external partners

During disrupted times, ITFC played a key role in keeping trade flowing and in sustaining critical supply chains such as energy, food, and health:

  • Disbursed US$810 million for the purchase of 3.3 million tonnes of food commodities, providing around 28 million households in OIC member countries to access to affordable, safe and sufficient food
  • More than 25,000 patients, 1,500 health workers, and 13 health centers benefitted from PPE, medical equipment, and pharmaceutical products purchased through ITFC financing
  • Disbursed US$3.8 billion to secure the supply of energy inputs in member countries, providing an estimated 11 million households with access to reliable electricity supply and supporting key sectors such as transportation, agriculture, and construction

To fill trade finance gaps among underserved groups, ITFC provided SMEs, smallholder farmers, and female-led businesses, with access to finance and a unique network and platform to connect to markets.

  • More than 320 SMEs have benefitted from US$139 million of financing channeled through 18 partner banks
  • In support of gender empowerment, ITFC supported the implementation of the She Trades initiative in Egypt and Morocco, benefiting over 110 women entrepreneurs and women-led SMEs through capacity-building trainings
  • In the agriculture sector, ITFC redistributed US$250 million worth of income to around 600,000 producers for the purchase of 500,000 mt of agriculture commodities. ITFC pre-export financing contributed to US$416 million of export revenues for African LDMCs.

Download Executive Summary here (https://bit.ly/3uo8pSM)

Download Full Report Here (https://bit.ly/3aj05gv)

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

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

Published

14 hours ago

on

April 29, 2026

By

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

Published

21 hours ago

on

April 29, 2026

By

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

Published

21 hours ago

on

April 29, 2026

By

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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