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Vice President Quaynor leads African Development Bank mission to India to strengthen business ties

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Exim Bank

The delegation participated in a roundtable with 15 Indian pharmaceutical and healthcare infrastructure companies, co-hosted by the Bank and India Exim Bank

ABIDJAN, Ivory Coast, September 17, 2024/APO Group/ — 

An African Development Bank (www.AfDB.org) delegation led by Vice President Solomon Quaynor has concluded a four-day official visit to India to explore investment and trade opportunities and partnerships between Africa and India in pharmaceuticals, agriculture, and technology.

During the mission, which took in the cities of New Delhi, Gurgaon and Faridabad, Quaynor, the Bank’s Vice President for Private Sector, Infrastructure, and Industrialisation positioned the Bank as a potential partner to India’s private sector in the areas of project financing and de-risking initiatives, among others. He also promoted the Africa Investment Forum as a platform offering access to unparalleled investments across the continent.

The delegation participated in a roundtable with 15 Indian pharmaceutical and healthcare infrastructure companies, co-hosted by the Bank and India Exim Bank. Discussions centred on the opportunities and challenges presented by developing local production and robust infrastructure in Africa’s pharmaceutical markets, which face an estimated $111 billion investment gap through 2030.

The African Development Bank has developed a pharmaceutical and vaccine manufacturing strategy (https://apo-opa.co/47xpdte) and plans to invest up to $3.1 billion through 2030 to support its implementation.

Quaynor said, “We have partnered with the India Exim Bank to support Indian private sector participation in Africa’s growth story. This includes India’s private sector participating in government projects that the African Development Bank finances with India Exim export credit financing. An example is the Noor Ouarzazate solar power plant in Morocco, which was funded by an AfDB loan to the Moroccan government; the EPC involved two Indian companies Sterling & Wilson and Shapoorji Pallonji.”

During a meeting with Ms. Manisha Sinha, Additional Secretary of the Indian Ministry of Finance and the Bank’s Group’s Alternate Governor, Vice President Quaynor commended India’s long-standing support to the Bank Group, and highlighted potential areas of collaboration in youth training, digital financial inclusion, and the digitisation of health infrastructure.

We have partnered with the India Exim Bank to support Indian private sector participation in Africa’s growth story

Quaynor also participated in the 19th India-Africa Business Conclave, an annual event organized by the Confederation of Indian Industry (CII), in partnership with Indian Ministries of Commerce and Industry, and External Affairs. The Vice President stressed that Africa remains the second-fastest growing region globally, with average real GDP growth expected to reach 4.3 percent in 2025, up from 3.7 percent in 2024. According to African Development Bank forecasts, seventeen African economies are projected to grow by more than 5 percent in 2024.

During a panel session on critical minerals, Quaynor emphasised that African countries are seeking partners that can help them move up EV and battery supply chains, as Africa pursues industrialisation. He added that the African Development Bank helps finance projects by offering long-term debt and guarantees, as well as indirect equity through private equity and venture capital fund investments.

The Bank’s team also visited the premises of the Indian Agricultural Research Institute (IARI) to discuss potential collaboration on extension models, public seed systems, and training. The IARI played a key role in driving India’s green revolution, during which the country’s agriculture underwent transformation into a modern industrial system through adoption of high yielding variety seeds, mechanisation, irrigation and other inputs.

India recently contributed $6 million towards a new trust fund to be managed by the Bank, under a bilateral Technical Cooperation Agreement signed in March 2024. The Indian government has also provided $2 million to the Africa Digital Financial Inclusion Facility (ADFI) (www.ADFI.org), managed by the African Development Bank.

“As we look forward, there are key sectors of growth that Indian companies could have a competitive advantage over other global markets, thereby facilitating south-south cooperation,” Quaynor said. “This requires industrialisation in Africa – so moving up the production value chain in Africa to take advantage of the AfCFTA, which is a single continental market of 1.4 billion people and a GDP of over $3.4 trillion.”

The Vice president was joined by Mr. Osamu Kawanishi, Director of the Asia External Representation Office, Ms. Yuna Choi, Chief External Relations and Communications Officer and Mr. O’Neil Rane, Principal Resource Mobilisation and Partnerships Officer. The mission took place from August 20-23. 

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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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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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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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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