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Togo: African Development Bank and African Guarantee Fund unite to strengthen female entrepreneurs’ access to finance

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2 years ago

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AFAWA

This innovative programme aims to make up to $3 billion available for women-led small and medium-sized enterprises, via guarantees to financial institutions to mitigate lending risks

LOMÉ, Togo, April 8, 2024/APO Group/ — 

The African Development Bank (www.AfDB.org) and the African Guarantee Fund (AGF) (https://apo-opa.co/4apZNya) have brought the curtain down on the AFAWA Finance Series Togo conference, a key note event aimed at  promoting a better understanding of the financing needs of Togolese women entrepreneurs and debunking the myth that women-run companies are risky ventures.

The three-day event, which ended on Thursday 28 March 2024, brought together some 180 leading figures responsible for policy and regulation in favour of women’s financial inclusion, and representatives of financial institutions, small and medium-sized enterprises and business incubators run or owned by women.

Specific training was provided to about 30 Togolese financial institutions. The courses helped to enhance understanding of the Affirmative Finance Action for Women in Africa (AFAWA) (https://apo-opa.co/4cPI8Sg) initiative and its ‘guarantee’ mechanism, and demonstrated the commercial benefits of doing a better job of targeting women entrepreneurs by developing gender-sensitive ranges of products and services.

The objective was to better understand the needs of women entrepreneurs and collectively address the challenges they face in terms of access to funding, while exploring the opportunities offered by the Guarantee for Growth programme, designed by the African Development Bank Group through the AFAWA, and implemented by the AGF. This innovative programme aims to make up to $3 billion available for women-led small and medium-sized enterprises, via guarantees to financial institutions to mitigate lending risks.

Wilfried Abiola, the Bank’s Country Manager for Togo, explained the initiative challenged economic and social stereotypes.

“The AFAWA initiative is not just a financial instrument; it aims to change the narrative and general perceptions, to transform the notion that small and medium-sized enterprises run by women are risky businesses. AFAWA is working to turn these businesses into substantial investment opportunities for institutions, in particular through the Guarantee for Growth programme, which was designed by the Bank,” he declared.

We are extremely optimistic that the impact will be significant in the long term and will stimulate economic growth in Togo

According to Jules Ngankam, CEO of the AGF, “AFAWA also aims to bring together financial and public sector actors to boost human and financial capital so that women can attain their full potential and participate completely in the growth of our continent. We are extremely optimistic that the impact will be significant in the long term and will stimulate economic growth in Togo.”

The financing gap for women-led small and medium-sized enterprises in Togo is close to $45 million. Closing this gap represents a priority for the Togolese authorities, who intend to strengthen women’s economic empowerment, boost the private sector and thereby support inclusive economic growth.

“Through the government’s action, 25 percent of public contracts are now awarded to women and young people, and on the economic front, the government aims to resolve the problem of access to credit for women and girls with the establishment of the National Fund for Inclusive Finance, which has helped more than 1.2 million women,” said Koffi Gani, Principal Private Secretary for the Togolese Minister for Social Action, the Advancement of Women and Literacy.

The AFAWA Finance Series Togo conference is part of a series of events organised right across Africa to promote access to finance for businesses run or owned by women. It represents a considerable step towards accomplishing the ambitious goal of funding women-led businesses to the tune of $5 billion by 2026.

The African Development Bank, through the AFAWA initiative, has approved approximately $1.7 billion in cumulative investments and $54.5 million in technical assistance, and has partnered with 96 financial institutions in 32 regional member countries. Over 7,000 women-led small and medium-sized enterprises have now reaped the benefits of its support in Africa.

AFAWA is supported by the Women Enterpreneurs Finance Initiative (We-Fi), the G7 countries of France, Italy, Canada and Germany, as well as the Netherlands and Sweden.

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

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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2 days ago

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February 6, 2026

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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2 days ago

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February 6, 2026

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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2 days ago

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February 6, 2026

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

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

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