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  • Annual Investment Meeting tackles global market challenges, future investment opportunities in partnership with the Abu Dhabi Department of Economic Development

    Annual Investment Meeting tackles global market challenges, future investment opportunities in partnership with the Abu Dhabi Department of Economic Development

    Abu Dhabi, United Arab Emirates, 2 April 2023: The 12th Annual Investment Meeting (AIM Global 2023), which is supported by the Ministry of Industry and Advanced Technology in partnership with the Abu Dhabi Department of Economic Development, will feature a number of local and international events, forums, and conferences from May 8 to 10 at the Abu Dhabi National Exhibition Centre and discuss the latest investment trends, challenges, and opportunities to further boost the sustainable growth of the global economy.

    Its lineup of activities comprises a series of dialogue sessions, keynote speeches, and interactive workshops that facilitate the exchange of ideas and best practices, foster dialogue and cooperation, and encourage collective efforts towards achieving a more sustainable and equitable financial future for all.

    It will focus on two main tracks, Investment and Innovation & Technology, which will highlight several topics that cover 10 key different sectors – Agriculture, Energy, Technology, Infrastructure, Manufacturing, Tourism & Hospitality, Transportation & Logistics, Finance, Healthcare, and Education.

    Least Developed Countries Forum

    Organized in cooperation with the World Association of Investment Promotion Agencies (WAIPA), the Least Developed Countries Forum aims to shed light on the key challenges confronting investment promotion agencies globally, such as market analysis mechanisms, investment trends, and sustainable approaches to addressing them, with a particular emphasis on investment promotion agencies in the least developed countries.

    İsmail Erşahin, WAIPA Executive Director and CEO, lauded the long-term partnership between the association and the Annual Investment Meeting, the world’s leading platform that offers an excellent opportunity for investment experts, private sector representatives and international organizations to network and exchange ideas.

    “This year we are pleased to be partnering on a conference for Least Developed Countries, where we will dedicate an entire day to discussing the crucial issues facing investment promotion agencies representing LDCs globally and to presenting them with the tools and knowledge needed to address their challenges in a productive and sustainable manner. We are also looking forward to hosting a workshop on attracting institutional capital, an increasingly urgent task for IPAs which WAIPA is supporting through our training programs,” Erşahin said.

    Future Finance Forum

    The Future Finance Forum, in partnership with the Union of Arab Banks under the theme “Leveraging Innovative Technologies for Financial Inclusion and Sustainability,” will bring together experts and practitioners to explore the role of cutting-edge technologies, such as blockchain, artificial intelligence, Web3, and digital currencies, in promoting financial access, stability, and sustainability. The Forum’s attendees will also gain a comprehensive understanding of the challenges and opportunities in implementing these technologies in the finance sector so they can collaborate on concrete solutions for a more inclusive and sustainable financial future in the Arab world.

    Commenting on the collaboration, Secretary General of Union of Arab Banks Dr. Wissam Fattouh said: “In light of the global economic and climate risks, the Arab region is witnessing deep economic and financial transformations, which will shape its landscape for the upcoming decades. The Union of Arab Banks, in partnership with AIM, aims to shed light on the emerging challenges facing our region, and how to transform them into opportunities, in order to achieve a green, sustainable, and digital Arab economy.”

    The local and global side events at the AIM Global 2023 also include “Make it in the Emirates”; “Invest in Abu Dhabi”; “Road to the World Investment Forum” in collaboration with the United Nations Conference on Trade and Development; “Entrepreneurs Investment Summit” with the United Nations Industrial Development Organization (UNIDO); “Bloomberg New Energy Finance Forum”; “Future Finance Forum” with the Union of Arab Banks; “World Local Production Forum” with the World Health Organization; “Tourism Investment Forum” with the United Nations World Tourism Organization (UNWTO); “Least Developed Countries Forum” in partnership with the World Association of Investment Promotion Agencies; “Finoverse Forum”; “Distressed and Alternative Investment Forum” with the DDC Financial Group; and “Advanced Manufacturing Investment Forum” to be hosted by UNIDO.

    AIM Global 2023 will revolve around the theme “The Investment Paradigm Shift: Future Investment Opportunities To Foster Sustainable Economic Growth, Diversity and Prosperity.” Throughout its previous editions, the conference has established itself as the world’s largest investment platform, attracting extensive international participation from decision-makers, senior officials, businesspeople, experts, and academics. It has excelled at providing a premier venue for knowledge dissemination and exchange, staying updated on the latest developments in foreign direct investment and related matters, sharing experiences, exploring business prospects, and forging cooperation and partnership agreements.

     

     

  • Event in Pictures

    Event in Pictures

  • Niger Country Unique Selling Points re-echoed

    Niger Country Unique Selling Points re-echoed

    ……As UK Trade and Investment Mission Visits

    Story: Mohammed Abu

    The Nigerien Minister of Trade, H.E.Mr. Allache Alhada has re-echoed Niger’s numerous investment opportunities in terms of huge agriculture potential, rich mineral deposits, energy, tourism and handicrafts among others adding that, his Ministry was playing the facilitator role.

    Mr. Alhada also touched on concrete measures being taken by government to create a most enabling environment for businesses and investments to thrive well in Niger.

    Mr. Alhada was speaking recently in Niamey during an audience he granted to members of the UK Trade and Investment Mission to Niger in the company of Her Excellency, Ms Catherine Inglehearn MBE, the UK Ambassador to Niger alongside representatives of a number of Ghana based Nigerien diaspora owned companies and other Ghanaian companies with business interest in Niger.

    The meeting was part of the programme line up of the UK Trade and Investment Mission to Niger held concurrently with the visit of  the West Africa region Country Manager of  the UK Export Finance, Steven Gray .

    The two-day event organized under the auspices of the British Embassy in Niamey and the UK Exports Finance in collaboration with the government of Niger, drew about twelve companies from the UK as well as some  local Nigerien economic operators and their Ghanaian counterparts.

    Mr. Alhada noted that the essence of involving the Ghanaian economic operators during the UK Trade and Investment Mission was borne out of the fact that, Ghanaian companies had decades long experience in trade, business and financing matters as it relates to the UK. Thus, their participation he intimated, was good for the possibility of fruitful collaboration and partnership between them thereby adding value to the UK mission to Niger.

    Also part of the programme line-up was audience with the Ministry of Planning, Industry, Agro-industrial pole creation among others.

    There were also presentations sessions on Investment opportunities in Niger by the Niger Chamber of Commerce, Ministry of Agriculture, Mines, Hydrocarbons, energy among others as well as presentation by Her Excellency, Ms Ingleheam the British Ambassador to Niger, the West Africa regional Executive Director of UK Export Finance, Steven Grey, FCDO, DMA Invest, members of the visiting UK Trade and Investment Mission to Niger, UK Export Financing mechanisms for infrastructure among others.

    The two-day programme packed event was rounded off by a visit of the UK Trade and Investment Mission led by Her Excellency, the UK Ambassador to Niger, MA Invest and members of the UK Mission to LAIT SA, Riz Du Niger,

    The event was in reciprocation to an earlier Nigerien Mission to the UK.

     

  • With participation of 600 speakers in over 160 dialogue sessions

    With participation of 600 speakers in over 160 dialogue sessions

    Abu Dhabi hosts the world’s largest investment forum

     Abu Dhabi, United Arab Emirates, 21 March 2023: The capital of the United Arab Emirates, Abu Dhabi, will be hosting the 12th edition of the Annual Investment Meeting (AIM Global 2023) to be held on May 8 to 10 under the theme “The Investment Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic Growth, Diversity and Prosperity” with over 600 high-level speakers participating in more than 160 dialogue sessions.

    Abu Dhabi’s hosting of the AIM Global for the first time, which is supported by the Ministry of Industry and Advanced Technology in partnership with the Abu Dhabi Department of Economic Development, is aligned with the emirate’s efforts to further strengthen its economic position in the region and to promote foreign direct investments among the countries of the world by consolidating investment opportunities aimed at sustainable development and leveraging digital technology.

    Dawood Al Shezawi, Chairman of the Annual Investment Meeting, said: “The Annual Investment Meeting, the largest investment forum, has succeeded throughout its previous editions in solidifying the position of the United Arab Emirates on the global investment map, and in pushing forward its progress over the next 50 years.”

    He added that organizing the 12th edition of the Annual Investment Meeting in Abu Dhabi, which has established itself as a preferred and thriving business and investment destination, is a result of its proactive ability and flexibility in dealing with changes and developments to stimulate and support appropriate events and talents, and providing innovative solutions to face current and future challenges.”

    He also stressed that they are continuously working to establish the foundations of a business system that provides opportunities for growth and prosperity for investors to achieve sustainable economic and social development goals.

    “The event provides businessmen and investors with the opportunity to meet, establish strategic agreements and partnerships, expand their businesses, and introduce new channels of work that are offered by the available investment sectors that are abundant in the emirate of Abu Dhabi and the entire United Arab Emirates,” Al Shezawi added.

    The Annual Investment Meeting brings together a high-level group of leaders, government officials, decision-makers, businessmen, major regional and international investors, key global companies and organizations, as well as smart city solution and technology providers and a number of startups and institutions financing small and medium-sized projects, over the course of three days.

    Its main purpose is to discuss how to better utilize technological innovations to augment investments in companies, encourage technology transfer, and increase competitiveness for countries to achieve economic growth through sustainable investments, and exchange views with governments to create stronger economic structures for investors and unify opportunities for the sustainable growth of the economy.

    This year’s 12th edition seeks to expand the scope of work by launching a range of activities that will benefit all of its participants. It will focus on two main tracks, Investment and Innovation & Technology, and on 10 key sectors, which include Agriculture, Energy, Technology, Infrastructure, Manufacturing, Tourism & Hospitality, Transportation & Logistics, Finance, Healthcare, and Education.

    The event agenda

    The Annual Investment Meeting has in its agenda a series of activities and programs, such as a specialized exhibition, investments roundtables, investment awards, startup awards, investor’s hub, investment destinations, B2B,G2B, G2G meetings, regional focus forums as well as pre-conference workshops.

    In addition, several side conferences and events will be organized and hosted, including “Make it in the Emirates”; “Invest in Abu Dhabi”; “Road to the World Investment Forum” in collaboration with the United Nations Conference on Trade and Development; “Entrepreneurs Investment Forum” with the United Nations Industrial Development Organization (UNIDO); “Bloomberg New Energy Finance Forum”; “Future Finance Forum” with the Union of Arab Banks; “World Local Production Forum” with the World Health Organization; “Tourism Investment Forum” with the United Nations World Tourism Organization (UNWTO); “Agriculture Technology & Food Security Investment Forum” hosted by the Food and Agriculture Organization of the United Nations; “Least Developed Countries Forum” in partnership with the World Association of Investment Promotion Agencies; “Finoverse Forum”; “Distressed and Alternative Investment Forum” with the DDC Financial Group; and “Advanced Manufacturing Investment Forum” to be hosted by UNIDO.

     Entrepreneurs Investment Summit (UNIDO)

    Entrepreneurs Investment Summit 2023, organized by the Arab Bank for Economic Development in Africa, the Union of Arab Chambers, and the Investment and Technology Promotion Office of UNIDO in Bahrain, aims to create a platform for promoting bankable investment opportunities led by entrepreneurs/SMEs and macro investments from African and Arab region.

    It also seeks to share best practices and experiences from Africa and the Arab Region on the means of stimulating and unleashing entrepreneurship and joint investments, and deliberate on the challenges, opportunities, threats, and the road forward towards achieving the Arab-African economic integration.

    The Future Finance Forum

    The Future Finance Forum, organized in collaboration with the Union of Arab Banks, will provide a platform for stakeholders from government, industry, civil society, and academia to engage in a comprehensive examination of the trends and challenges shaping the future of finance.

    The theme of the forum “Leveraging Innovative Technologies for Financial Inclusion and Sustainability” reflects the recognition of the critical role that financial innovation plays in promoting inclusive and sustainable development.

     Tourism Investment Forum(UNWTO)

    The UNWTO is organizing the Tourism Investment Forum following the unprecedented and extensive disruption caused by the COVID-19 pandemic in the tourism sector, which requires a quantum leap in tourism investments to better support and accelerate the implementation of the 2030 Agenda and the Sustainable Development Goals.

    There is growing consensus among tourism stakeholders as to how the future resilience of tourism will depend on the sector’s ability to balance the needs of People, Planet and Prosperity.

    In line with these goals, the Tourism Investment Forum provides an opportunity for governments, private sector investors, multilateral financial institutions, and development banks to enhance their coordination and combine their capacities and resources to turn priorities into investable projects by unlocking the potential of a new and redefined tourism investment approach.

     Bloomberg New Energy Finance UAE Forum

    The Bloomberg New Energy Finance UAE Forum discusses the dynamic shift in demand for traditional commodities such as oil, gas, and metals in light of the transition to a low-carbon economy, as newer commodities such as power, carbon, hydrogen, and even sustainable aviation fuels will see their landscape change. Participants will also address several questions, such as the role of “clean energy molecules” and what energy producers in the Middle East should expect.

    The forum will also present the results of the New Energy Outlook report and the various net-zero pathways that can emerge for countries and sectors, with the Middle East playing a role in supporting the pathways of other countries.

    Distressed and Alternative Investment Forum

    The DDC Financial Group’s Distressed and Alternative Investment Forum features two dialogue panels. The first, “The Role of Distressed & Alternatives in a Diversified Portfolio,” discusses the available opportunities for investors in the field, the current economic environment and how rising interest rates are creating a unique set of opportunities for distressed debt investors that has not been seen for over a decade.

    The second session sheds light on the Global Distressed and NPL Investing, providing insights into strategies and opportunities available in this field. It involves a discussion on the different asset classes in this sector of the market, including real estate, corporate, and consumer debt, the secondary market, as well as the panelists’ sharing of their experiences and analysis of investing in distressed and NPL assets across different geographies, including emerging markets and developed economies.

    It also covers the challenges and opportunities of investing in these markets, taking into account macroeconomic conditions, industry-specific trends and the unique regulatory and legal frameworks that govern these transactions.

    The Finoverse Arabia Forum

    The Finoverse Arabia Forum discusses the role of FinTechs and the adoption of technology in shaping the future of financial and banking institutions, as well as maximizing their efficiency and profits. It also explores the lessons learned from founding and developing startups, and sharing best practices through several panel discussions that address the intersection of FinTech, artificial intelligence, and Web3.

    This includes transforming business models and strategies across sectors, while addressing the infrastructure gaps and regulatory challenges. The advantages of investing in building a trusted Internet network across regions are also reviewed, along with strategies for securing and attracting the best talent to fuel Web3’s continued growth.

    The AIM Global 2023 is preceded by a series of professional interactive training sessions, led by experienced industry experts from all over the world. There will also be a range of workshops sessions aimed at enriching the participants’ experience and informing them about profitable investment opportunities.

    These workshops will be held one day prior to the event, where governments, smart city solution providers, startups, small and medium-sized companies, and investment opportunity providers touch base to achieve economic growth for their respective countries and regions.

    For more information, please visit the AIM website at www.aimcongress.com.

    -Ends-

     

  • H.E. Amadou Allahoury Diallo grants Sarki Pro-Umar Tanko Audience in Niamey

    H.E. Amadou Allahoury Diallo grants Sarki Pro-Umar Tanko Audience in Niamey

    Report: Mohammed Abu

    The Special Ministerial Advisor to the H.E., President Bazoum and coordinator of the Agro-industrial Poles Programme, H.E. Mr. Amadou Allahoury Diallo, last week  granted Sarki Pro-Umar Tanko,the Bonkuano of the Greater Accra Zarma Community, Ghana audience  in Niamey.

    Welcoming Sarki Tanko, H.E., Mr. Diallo briefly  recounted his service at the Food and Agricultural Organization(FAO) in Ghana several decades ago.

    Sarki Tanko while appreciating the warm reception accorded him, also disclosed to the H.E. Mr. Diallo, his personal extra  endeavors towards wooing other  potential   investors with interest in the government’s Agro-industrial Pole creation Programme.He also added, that  he would accordingly  update H.E., in event of any expression of interest on the part of any investor(s) to embark on an exploratory visit to Niamey.

    The government of Niger has since adopted various measures aimed at  unlocking  the full potential of the country’s huge agriculture potential to the benefit of the gross national economy.

    Under the  government’s   economic rebirth agenda, it is focused on  scaling up rain-fed dependent driven small holder production while also promoting  irrigation-fed commercial production and  agro-processing for exports.

    Sarki Tanko also mentioned to  H.E.Mr. Diallo, about his post UE-Niger Business Forum survey of some Nigerien rural communities in other to explore investment opportunities they also offer but often over looked by the average  investor.

     

  • “Treat Niger Chamber of Commerce as your Home”-Says H.E., Mr. Moussa Sidi Mohamed

    “Treat Niger Chamber of Commerce as your Home”-Says H.E., Mr. Moussa Sidi Mohamed

    …………As Ghanaian Company Representatives  Call on him in Niamey

    Report: Mohammed Abu

    The President of the Niger Chamber of Commerce, Agriculture, Industry & Handicrafts, Mr. Moussa Sidi Mohamed has asked diaspora Nigerien owned companies as well as all other Ghanaian companies with business interest in Niger, to treat the chamber as their home.

    Mr. Mohamed also advised them to seek from the chamber, expert advice relating to their new business set up in the country while also urging them not to hesitate to bring to the notice of the chamber if they happen to be encountering any difficulties during their business incorporation process.

    He said that the Nigeri government had taken pragmatic steps through various reforms aimed at reducing both cost and ease of doing business in Niger. Touching on gains so far made in this direction, Mr. Mohamed cited the World Bank worldwide ease of doing business 2020-2021 rankings that had put Niger in the position of 132 out of 190 countries with a score of 56.8 percent.

    Under the reforms, incorporation of a company he said, now takes a maximum of three working days and at the cost CFA17,500.00.

    Mr. Mohamed was speaking during a courtesy call on him by Ghanaian participants facilitated by Her Excellency, Hajia Salamatou Goga, the Nigerien Ambassador to Ghana, on the sidelines of a two-day Workshop (15th-16th March) on the UK Export Finance funding procedure, terms and conditions.

    The event was held to co-inside with the visit of its Executive Director for West Africa as well as, a UK Trade Mission to Niger that comprised Representatives of about twelve UK companies.

    Mr. Mohammed added that, Niger’s huge agriculture, substantial mineral deposits, tourism and handicrafts potential among others, offers diverse investment opportunities for investors and thus, Niger is welcoming investors with open hands.

    In a submission, Alhaj Abdul Aziz Adamu, the Managing Director of Global Haulage Ltd, Ghana, a Ghanaian company reputed for haulage of agro-products and general goods in Ghana and other parts of the West African sub-region, said they weren’t just into haulage of the commodities alone, but also into their trade as well including financing.

    The Group, Alhaj Adamu disclosed, was in Niger alongside their business partners to explore diverse areas of investment opportunities including information Technology(IT.)

    Earlier in a brief presentation on the Global Haulage Group during the workshop session, Maria Adamu-Zebo, Managing Director of the Federated Commodities Ltd, a member of the Group said that, aside haulage of commodities, the group was also into commodities trade via licensed cocoa buying and exports as well as banking and financing.

    Sarki Alhaj Pro-Umar Tanko, CEO of Tanko Forex Bureau Ltd, Ghana, who also doubles as the Chief of the Zarma Community in the Greater Accra region of Ghana on his part, underscored the need for investor circumspection while recounting losses incurred in the country by Ghana based diaspora Nigerien owned companies in the previous past.

    Sarki Pro-Umar Tanko said that aside forex trading operations, he was into investment in land property and development as well as trading in refined oil products.

    He also disclosed that during a post UE-Niger Business Forum survey he conducted in some rural communities in Niger, it was established that those areas also offer some promising investments opportunities often overlooked by most investors.

    Sarki Tanko while also lauding Her Excellency, Hajia Salamatou Goga, the Nigeri Ambassador to Ghana for her hard work, also prayed the Nigeri authorities to grant her a longer tenure of office for the benefit of Niger-Ghana diplomatic, bilateral and business relations.

    Other Ghanaian companies present were, the New Modern World Company Ltd, led by its CEO, Hon Usman Inusah and other members of his management Team, Mutilai Trading Enterprise, Federated Commodities Ltd among others.

    In another development Her Excellency, the Nigerien Ambassador to Ghana also facilitated a meeting between representatives of six Ghanaian companies and His Excellency, President Mohamed Bazoum during which the Nigerien  Trade Minister, H.E., Alkache Alhada was also present.

    The Trade Minister underscored the importance of getting Ghanaian companies to participate in the UK Export Finance funding procedure Workshop. This, he said was borne out of the fact that, Ghanaian companies had decades long experience in doing business with the UK as well as, the UK Export Finance mode of funding. Thus, their presence at the event as high level economic operators in Ghana was good for synergy and value addition to the event.

    His Excellency, President Bazoum on his part assured the Ghanaian companies of government security protection in the country for investors, a guarantee of their investments, lower company incorporation cost and ease of doing business.

    His Excellency further assured them of tax and duty exemption on their imported equipment relating to their various fields of business operation and with particular reference to agriculture machinery.

     

  • United Arab Emirates (UAE)-Africa Partnerships to be Solidified at Invest in African Energy Dubai Edition

    United Arab Emirates (UAE)-Africa Partnerships to be Solidified at Invest in African Energy Dubai Edition

    The Dubai leg of the Invest in African Energy roadshow offers UAE investors the chance to connect with African opportunities, while African executives the chance to connect to international financial markets with Dubai as a trade center

    JOHANNESBURG, South Africa, March 9, 2023/ — The next leg of the African Energy Chamber’s (http://www.EnergyChamber.org) Invest in African Energy roadshow is drawing near, bringing with it new opportunities for UAE investors and project developers to tap into emerging energy markets in Africa. Taking place on March 30 at the Ritz-Carlton, International Financial Center in Dubai – a trade center within easy reach of major international financial capitals – the edition is set to unlock a new era of economic ties between the Middle East and Africa, propelled by unique networking opportunities and facilitated investment meetings.

    Recently, the dynamics between Middle Eastern investors and Africa have shifted dramatically, with UAE energy players in particular moving to establish deeper, longer-term and mutually beneficial commitments with African countries. For UAE stakeholders, Africa offers a wealth of opportunities whereby investing in the continent will advance goals of diversification, energy and food security as well as bilateral trade. As a region heavily dependent on oil and gas, investing in African energy markets will enable the UAE to not only advance its own development agenda but accelerate Africa’s overall socioeconomic progress, driving electrification, infrastructure development and industrialization all on the back of strengthened bilateral ties.

    Meanwhile, for Africa, the UAE has long-been an important investment partner, with the country representing the fourth-largest investor into the continent globally. Between January 2016 and July 2021 alone, the UAE invested approximately $1.2 billion into sub-Saharan Africa, and with an agenda to increase these investments multi-fold, the UAE is set to play an increasingly important role in unlocking resource monetization and development in Africa. At a time when Africa is pursuing widespread energy expansion on the back of 125 billion barrels of largely untapped oil reserves, 620 trillion cubic feet of gas and unparalleled renewable energy resources, increased UAE investment across key segments of the African energy sector will help unlock a new era of resource maximization, and by proxy, long-term and sustainable economic growth.

    On the gas front, a critical industry for both Africa and the global energy sector at large, UAE expertise across this field will help advance the continent’s gas agenda, ensuring investments translate into large-scale projects that are highly rewarding, impactful across regional economies and reap tangible benefits for local populations. By leveraging the UAE’s experience as a major oil and gas producer, Africa can unlock the full potential of its burgeoning gas sector with projects such as Mozambique’s three-fold Liquefied Natural Gas (LNG) projects; Senegal and Mauritania’s Greater Tortue Ahmeyim LNG development; the Nigeria Floating LNG project; and many more leading the way.

    However, the UAE’s role in Africa transcends direct investments, with the Emirates offering the continent the unique opportunity to tap into international markets, and specifically, financial capitals. Having been positioned as a trade center within easy reach of global markets, Dubai is well-connected to both global markets as well as emerging markets seeking investment and capital partners. As such, the Invest in African Energy Dubai edition will leverage this position to strengthen UAE-Africa connections and enable African stakeholders to tap into global financial markets.

    “The Invest in African Energy Dubai edition represents a not-to-be missed event. On the back of a series of successful roadshows that preceded it, the Dubai event will focus on the opportunities for UAE investors and project developers in Africa. Africa’s energy sector offers stakeholders a wealth of opportunities covering every segment of the energy value chain, and levering already-strong relations and economic ties established between the UAE and African countries, the Dubai event will create new opportunities for deals and bilateral connections, ensuring UAE stakeholders capitalize on Africa’s energy prospects in a way that is mutually beneficial and on a long-term basis,” states NJ Ayuk, Executive Chairman of the AEC, adding that, “If you are a UAE energy players looking at expanding your presence across the African continent, or an investors looking at reaping high returns on investment in global markets, the Invest in African Energy Dubai edition is the place to be. We look forward to seeing you all in Dubai at the end of this month.”

    The Dubai Invest in African Energy roadshow offers UAE players the chance to connect with a suite of high-level African stakeholders, providing a suitable platform where discussions can commence regarding UAE-Africa relations and new deals to be signed that will advance both the UAE and Africa’s objectives. Representing a form of prelude to the continent’s premier event for the oil and gas sector, African Energy Week (AEW) 2023, the event will kickstart discussions that will translate into tangible deals during the AEW conference. Don’t miss this important event.

    Distributed by APO Group on behalf of African Energy Chamber.

    SOURCE
    African Energy Chamber
  • African Development Bank issues AUD 50 million 15-year Kangaroo Green Bond due March 2038

    African Development Bank issues AUD 50 million 15-year Kangaroo Green Bond due March 2038

    The transaction is the Bank’s 2nd green bond issued in 2023 across all currencies
    ABIDJAN, Ivory Coast, March 8, 2023/ — The African Development Bank (http://www.AfDB.org), rated Aaa/AAA/AAA/AAA (Moody’s/S&P/Fitch/Japan Credit Rating, all stable) has successfully launched an AUD 50 million 15-year Kangaroo Green Bond due March 2038. The new issuance was arranged by RBC Capital Markets and sold to a single Japanese investor, Taiju Life Insurance Company.

    This is the African Development Bank’s sophomore green bond in the Australian dollar market since the inaugural 15-year Kangaroo green bond was issued in 2016, and marks an extension of the Bank’s existing Kangaroo curve.

    The funds raised through this green bond transaction will support the Bank’s efforts in the areas of climate change mitigation and adaptation. The bond proceeds will finance eligible green projects, including forestry conservation projects, aimed at supporting the transition to green growth in Africa in accordance with the AfDB Green Bond Framework.

    Despite renewed global efforts toward climate change evidenced by the new and ambitious climate targets established at the 27th Conference of the Parties (COP27) through the United Nations Framework Convention on Climate Change (UNFCCC), Africa requires particular attention and a more targeted response.

    Africa, with its unique biodiversity and ecosystems, including savannas, mountains, plateaus, deserts, and its variety of organisms and plants, is threatened by climate change unlike any other region. As a result, the transition to green growth in Africa has become even more important and urgent.

    Japan’s announcement of the “Africa Green Growth Initiative” to promote and attract investments into sustainable green growth in Africa, is ample evidence of its recognition of the need for this transition. The announcement was made at the 8th Tokyo International Conference on African Development (TICAD8) in August 2022.

    In order to promote sustainable development in Africa, the Bank’s Ten-Year Strategy focuses on two overarching objectives: to promote inclusive growth and to support African countries transition to green growth. The Bank has contributed to improving the lives in Africa by providing better access to water, energy and food, enabling sustainable use of natural resources, and promoting innovations, employment and economic growth.

    The transaction is the Bank’s 2nd green bond issued in 2023 across all currencies, following on from a successful SEK 1.5 billion 5-year Green Bond issued in the Swedish krone market in January.

    Bond Terms Summary:

    Issuer African Development Bank
    Rating Aaa/AAA/AAA/AAA (All Stable)
    Issue Amount AUD 50 million
    Trade Date 22 February 2023
    Settlement Date 8 March 2023
    Maturity Date 8 March 2038
    Coupon 5.000%
    ISIN AU3CB0297273
    Arranger RBC Capital Markets

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

     

  • Glencore ordered to pay $700 million by US judge in bribery case

    Glencore ordered to pay $700 million by US judge in bribery case

    Reports Bob Van Voris in The case, US v. Glencore, 22-cr-00297, US District Court, Southern District of New York (Manhattan).

    Glencore Plc was ordered by a federal judge in New York to pay $700 million as a criminal punishment for a global bribery scheme orchestrated by the Swiss-based commodities trading and mining giant.

    US District Judge Lorna G. Schofield on Tuesday imposed the sentence, following the terms of a plea deal with prosecutors entered when Glencore pleaded guilty in May to a single count of conspiring to violate the Foreign Corrupt Practices Act. The company must pay a fine of $428.5 million and $272.2 million in criminal forfeiture.

    The penalty, one of the largest in a foreign corruption case, is part of the $1.5 billion Glencore agreed to pay to resolve bribery and market-manipulation probes in the US, UK and Brazil. Glencore units agreed to plead guilty to a list of charges ranging from bribery and corruption in South America and Africa, to price manipulation in US fuel-oil markets.

    Glencore was guilty of “a very serious offense,” Schofield said, though he noted the company’s efforts to cooperate with the government and to beef up compliance procedures after receiving a federal grand jury subpoena in 2018.

    Prosecutors claimed Glencore paid more than $100 million in bribes to government officials in Brazil, Nigeria, the Democratic Republic of the Congo and Venezuela. They said Glencore made $315 million from the scheme.

    In addition to the fine and forfeiture, Glencore will spend five years on probation, continue with improvements to its ethics and compliance programs and employ an outside monitor for three years.

    Glencore conducted an internal investigation, eventually disciplining more than 20 people, a lawyer for the company said during the hearing Tuesday in Manhattan federal court. Glencore produced more than 1 million documents, many from outside the US, and hired a forensic accounting firm to look into suspect trading activity.

    On Monday, Schofield ruled Glencore must pay $29.6 million to the founders of a company that provided healthcare services in 11 African countries, but was forced to shut down. Crusader Health claimed it was driven out of business after Glencore bribed a public official in the Democratic Republic of the Congo to throw out a lawsuit brought by Crusader against a Glencore subsidiary.

    In September, the commodity firm was sentenced in Connecticut to pay $486 million in fines and forfeitures in a case in which Glencore admitted conspiring to manipulate oil-price benchmarks. In November, a London judge imposed a £276 million ($333 million) penalty for Glencore’s effort to bribe government officials for access to oil cargoes across Africa.

    Source: (Bloomberg News)