Category Archives: News

AIMEC hosts strategic workshop to advance inclusive economic growth in Africa

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The African Inclusive Markets Excellence Centre (AIMEC) has held its inaugural Strategic Planning Workshop in Tunis, Tunisia, from October 28 to 30, 2025, establishing a solid operational framework and roadmap to drive inclusive and sustainable economic growth across the continent.

An initiative of the African Union Commission (AUC) hosted by Tunisia, AIMEC aims to help AU member states design policies that expand equitable market access, particularly for women, youth, and marginalized groups, in line with Agenda 2063 and the UN Sustainable Development Goals (SDGs).

The workshop, opened by Ambassador Dr. Youssef ElKordofani, AIMEC Executive Director, and H.E. Mr. Samir Abid, Tunisia’s Minister of Trade and Export Development, brought together key stakeholders, including AU Commissioner for Economic Development, Trade, Industry and Mining, H.E. Ms. Francisca Belobe, African Business Council President Dr. Amany Omar Asfour, and representatives from GIZ, regional bodies, and the private sector.

The meeting concluded with the adoption of AIMEC’s 2025–2027 Strategic Framework, built on four pillars — Knowledge Leadership, Policy Innovation, Capacity Building, and Scaling Solutions. Participants also agreed on concrete next steps for staffing and implementation to fast-track the Centre’s operations.

The event received wide national media attention, highlighting Tunisia’s growing role as a regional hub for African cooperation and inclusive development.

Ghana President Mahama commissions Damongo camp prison

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Ghana’s President John Dramani Mahama has inaugurated the new Damongo Camp Prison, a 300-capacity correctional facility built by The Church of Pentecost, describing it as a symbol of hope, redemption, and partnership for national renewal.

Speaking at the commissioning ceremony in Damongo, the capital of the Savannah Region, President Mahama commended the Church for its continued collaboration with the Ghana Prisons Service, noting that it had already built similar facilities in Ejura and Nsawam.

“This project demonstrates what can be achieved when the state, the Church, and the community come together in service to humanity,” Mahama said. “Nation building is not the sole responsibility of government, but a collective moral endeavour of all who believe in the dignity and potential of every human being.”

The President reaffirmed his administration’s commitment to prison reform, revealing plans to provide the Service with logistics to expand into large-scale farming, poultry, and agro-processing as part of efforts to enhance productivity and inmate rehabilitation.

He added that the Prisons Service would play a key role in the government’s proposed 24-hour economy, engaging in production activities such as manufacturing, furniture making, sewing school uniforms, and processing agricultural goods for both government and commercial use.

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Mahama also announced an increase in inmates’ daily feeding allowance from GHS 1.80 to GHS 5.00, stressing that the move was driven by justice, not charity. “It reflects our belief that dignity should never depend on one’s circumstances,” he said.

Additionally, the President pledged to provide the Damongo Camp Prison with a 66-seater bus to support staff mobility.

Expressing gratitude to the Church, Mahama said: “We thank Apostle Eric Nyamekye and members of The Church of Pentecost for their faith in humanity and their partnership with the state. As Mandela said, a society’s greatness is measured by how it treats its most vulnerable citizens.”

In his remarks, Apostle Dr. Eric Nyamekye, Chairman of The Church of Pentecost, said the prison projects form part of the Church’s Kingdom Project—an initiative focused on spiritual transformation and societal development. “Our aim is to raise disciples of Christ who impact their world with righteousness,” he said.

Youth Charter launches Africa expansion of “Youth 4 Africa” framework

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The Youth Charter (YC) has announced the Africa-focused expansion of its acclaimed Youth 4 Africa Framework, calling for a new era of holistic, cross-sector youth development across the continent. Building on over 30 years of global experience in Sport for Development and Peace (SDP), the organisation is urging African governments, CAF member associations, Pan-African institutions, NGOs, the private sector, and international development agencies to align sport, education, health, employment, and peacebuilding under a unified strategy to help achieve the United Nations Sustainable Development Goals (SDGs) by 2030.

The announcement coincides with a growing wave of youth-focused initiatives across Africa, including the Tibu Africa–IOM Morocco Africa Cup of Living Together and the CAF x Afreximbank Schools Football Programme, both of which highlight the increasing commitment to using sport as a catalyst for social development, opportunity, and unity.

Speaking on the initiative, Geoff Thompson, Founder and Executive Chair of the Youth Charter, described Africa’s youth as the continent’s greatest asset. He emphasised that unlocking their potential requires moving beyond isolated projects toward an integrated model of community transformation. According to him, linking sport with education, employability, health, and peace can create powerful engines for hope, aspiration, and opportunity.

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The Youth 4 Africa Framework builds upon the Youth Charter’s Community Campus Model, an ecosystem that connects sport and physical activity with education, digital skills, health, wellbeing, creative expression, employment pathways, and peacebuilding.

The Youth Charter cited recent African initiatives as evidence of this emerging movement. The Tibu Africa & IOM Morocco “Africa Cup of Living Together” serves as a model for social inclusion, engaging migrant and Moroccan youth through education, leadership, and employability programmes that advance key SDGs. Meanwhile, the CAF x Afreximbank Schools Football Development Programme is creating pathways that connect grassroots football with professional careers in coaching, administration, media, technology, and entrepreneurship.

Together, these efforts demonstrate how sport, when integrated into national development strategies, can strengthen Africa’s human capital, reduce inequality, and promote peaceful, cohesive societies.

The Youth Charter is calling on African and international partners to play active roles in advancing this vision. It urged the African Union to embed holistic sport-for-development frameworks within the Agenda 2063 plan, while encouraging CAF, member associations, and ministries to expand community-based sport ecosystems tied to education and employment. Financial institutions such as Afreximbank and the African Development Bank are being called upon to invest in sport-led youth development and infrastructure. The Charter also urged international organisations including UNDP, UNICEF, IOM, and UNESCO to integrate sport and culture into their youth, peacebuilding, and migration programmes.

“Sport is Africa’s universal language,” Thompson concluded. “If we integrate it with education, skills, and opportunity, we can empower millions of young Africans to become tomorrow’s leaders, entrepreneurs, and peacebuilders.”

AMAN Union announces winners of 2025 Aman Union Awards

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The AMAN Union, a leading forum for commercial and non-commercial insurance and reinsurance companies across the member states of the Organization of Islamic Cooperation (OIC), has announced the winners of the 2025 4th Aman Union Awards during its 15th Annual General Meeting, hosted by the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) — a member of the Islamic Development Bank (IsDB) Group.

The announcement was made by Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, who highlighted the Union’s commitment to recognizing excellence and innovation in the export credit, investment, and trade insurance sectors.

The Exceptional Performance Award went to Saudi Eximbank for its Export Pioneers Graduate Program, which was praised for its pioneering approach to institutional capacity-building, business growth, and socio-economic development across member countries.

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“The Export Pioneers Graduate Program reflects the very essence of what AMAN Union stands for — collaboration, innovation, and capacity-building,” said Dr. Khalafalla. “By empowering the next generation of professionals and strengthening the export ecosystem, such initiatives contribute directly to the sustainable growth of our member countries.”

The Best Research Paper or Thesis of the Year Award was presented to the Jordan Loan Guarantee Corporation (JLGC) for its research on sustainable finance, recognized for offering actionable insights that promote resilience and economic growth in line with AMAN Union’s mission.

Commenting on the award, Mr. Mourad Mizouri, Secretary-General of AMAN Union, said, “The recognition of this research underscores AMAN Union’s commitment to evidence-based policymaking and knowledge sharing. Encouraging thought leadership is vital to building agile institutions that can address emerging global challenges.”

The 2025 AMAN Union Awards reaffirm the organization’s ongoing commitment to excellence, innovation, and sustainable growth across the export credit and investment insurance ecosystem. Through these recognitions, AMAN Union continues to strengthen economic cooperation and resilience among OIC member states.

Spotify launches ‘listening stats’ feature for weekly music recaps

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Global music streaming platform Spotify has introduced a new interactive feature called “Listening Stats”, designed to give users a dynamic and shareable recap of their weekly music activity.

Phiona Okumu, Head of Music for Sub-Saharan Africa at Spotify, announced the feature in a statement on Thursday in Lagos, describing it as a “game-changer for music conversation.”

According to Okumu, the new feature offers listeners a continuously updated view of their musical preferences. “This new data view is designed to be living and breathing — it updates every 24 hours, giving you a real-time look at your current musical direction and ensuring the freshest personalised recommendations,” she said.

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Each week, users will receive an in-depth summary of their top artists and songs from the past month, along with curated playlists that reflect their listening habits. The feature also includes a weekly highlight, showcasing key moments such as new discoveries, milestones, or standout tracks that define a listener’s unique sound.

Okumu added that the Listening Stats feature is built for social engagement, allowing users to share snapshots, compare playlists, and explore what friends or colleagues are currently enjoying.

“Like its popular personalised siblings — Daylist, Release Radar, and Discover Weekly — Listening Stats is about exploring and defining your unique sound, making it the perfect prelude to Spotify Wrapped, our year-end celebration of music discovery,” she said.

Oando CEO Wale Tinubu to champion African Energy leadership at G20 investment forum

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Wale Tinubu, Group Chief Executive Officer of Oando PLC, has been announced as one of the key speakers at the forthcoming G20 African Energy Investment Forum in Johannesburg, South Africa. The event, organized by the African Energy Chamber (AEC), will bring together global investors, policymakers, and industry leaders to advance Africa’s energy development agenda.

Tinubu’s participation underscores the growing influence of African energy firms in shaping investment and sustainability conversations across the continent. Under his leadership, Oando has transformed from a downstream trading company into one of sub-Saharan Africa’s most integrated energy groups.

In 2024, the company completed its acquisition of Eni’s Nigerian Agip Oil Company (NAOC), cementing its status as Nigeria’s largest indigenous oil producer. Oando reported a 164% surge in profit after tax to ₦210 billion for the nine months ending September 2025, supported by a 59% increase in crude oil and gas production—figures that reflect its strong operational performance and expanding footprint in Africa’s energy market.

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Beyond oil and gas, Oando is positioning itself at the forefront of Africa’s energy transition through its new subsidiary, Oando Mining, which focuses on the exploration of lithium and other critical minerals vital for clean-energy technologies. This initiative aligns with Nigeria’s ambition to build a strong presence in the global supply chain for battery materials.

The G20 African Energy Investment Forum aims to mobilize private capital, accelerate energy infrastructure, and strengthen Africa’s role in global investment flows. According to NJ Ayuk, Executive Chairman of the AEC, “Oando’s participation highlights the strength and maturity of African companies that are not only driving production but also positioning themselves in the global energy transition.”

Tinubu is expected to share insights on Oando’s growth strategy and its broader role in deepening Africa’s energy value chain. His session will focus on how indigenous companies can anchor investments, boost local participation, and build international partnerships to unlock new opportunities across the continent.

As the G20 African Energy Investment Forum and the G20 Summit approach, the inclusion of business leaders like Tinubu reflects Africa’s growing prominence in global energy discussions. The forum will serve as a key platform for collaboration and innovation, setting the stage for Africa’s next chapter of energy-driven prosperity.

Angola opens new FIFA-standard stadium to boost youth, talent, growth

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The Government of Angola has inaugurated the new Uíge Stadium, a world-class sports and community complex delivered by Mitrelli. Built to FIFA, UEFA, and CAF standards, the 10,000-seat facility marks a major milestone in Angola’s strategy to empower youth, elevate sports performance, and drive regional development.

The inauguration was led by H.E. Rui Falcão Pinto de Andrade, Minister of Youth and Sports, alongside H.E. José Carvalho da Rocha, Governor of Uíge Province, and other senior officials. Held in the context of the commemorations of Angola’s 50th Independence, it reinforced the country’s investment in youth empowerment, and international athletic stature.

Just one month after the launch of the José Armando Sayovo Olympic and Paralympic Sports Complex in Bengo—completed six months ahead of schedule—the Uíge Stadium forms part of Angola’s broader pre-Olympic infrastructure development. These efforts aim to prepare athletes for global competition while fostering education, inclusion, and civic engagement through sport.

“What we inaugurate today is more than a stadium. It is a symbol, a commitment, and a firm step toward building a future where sports, youth, and Angolan talent walk hand in hand. These facilities were built to create dignified conditions for sports practice, fostering the promotion of talent and strengthening social cohesion,” said Minister of Youth and Sports, Rui Falcão Pinto de Andrade.”

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The project was delivered by Mitrelli’s multidisciplinary teams in Angola, working closely with local architects, engineers, and skilled workers. The project created over 800 direct and indirect jobs.

“This stadium embodies our belief that sport is a catalyst for empowerment, renewal, and sustainable development, in Angola and across Africa. It also reflects Mitrelli’s capacity to deliver not only world-class sports infrastructure, but integrated ecosystems that support community growth, including housing, water, and energy projects already implemented in the region. Delivering two major sports complexes within one month, including one completed six months ahead of schedule, underscores that commitment, said Rodrigo Manso, CEO, Mitrelli.”

Strategically located in Uíge, the stadium is designed as a multi-purpose hub for football, athletics, and cultural events. Facilities include a 105x68m natural grass pitch, six-lane athletics track, locker rooms, warm-up zones, a medical unit, and full accessibility features. Media are supported with a dedicated press center, TV/radio studios, and a 50-seat conference room. Commercial spaces built under the stands promote year-round activity and local entrepreneurship.

“The Angolan Government has been firmly investing in the development of sports infrastructure, both in the Province of Uíge and across the country,” said Alberto Biamonti, Country General Manager, Mitrelli Angola. “We are proud to be part of this national effort, contributing to the implementation of facilities that promote sports not only as a pathway to well-being, but also as a powerful driver of growth, inclusion, and opportunities for the new generations.”

In line with Mitrelli’s design values, the project prioritizes sustainability through efficient systems and locally sourced materials, ensuring that its value endures far beyond sport, supporting broader economic and social development.

OMEGA unveils countdown clock for Dakar 2026 Youth Olympic Games

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Excitement is building across Africa as OMEGA, the Worldwide Olympic and Paralympic Partner, unveiled the official countdown clock marking one year to go until the Dakar 2026 Youth Olympic Games (YOG) — the first Olympic event ever to be held on African soil.

The unveiling ceremony, held at Dakar Gare in the heart of the city, marked a historic milestone for Senegal and the continent. The event brought together key figures including International Olympic Committee (IOC) President Kirsty Coventry, OMEGA President and CEO Raynald Aeschlimann, Mamadou Ndiaye, President of the Dakar 2026 Youth Organising Committee (YOGOC), and Ibrahima Wade, General Coordinator of YOGOC.

IOC President Coventry hailed the occasion as a defining moment for both the Olympic Movement and Africa’s sporting future.

“Dakar 2026 was created from the vision of bringing the Youth Olympic Games to every corner of the world, placing them at the heart of Africa’s transformation,” she said. “We extend our heartfelt thanks to OMEGA for their unwavering partnership and commitment to Olympic values.”

OMEGA CEO Aeschlimann reaffirmed the brand’s commitment to the Olympic Movement and its pride in supporting the first-ever Youth Olympic Games on African soil.

“It’s an honour for OMEGA to be involved in this historic IOC event,” he said. “At the Youth Olympic Games, we often see the start of remarkable athletic careers, and Dakar 2026 will be no exception.”

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YOGOC President Mamadou Ndiaye described the unveiling as a powerful symbol of progress and anticipation.

“With hosting taking place in Africa, this edition of the Youth Olympic Games will be unlike any other. The culture and spirit of Senegal will make this event truly special,” he said.

The countdown clock continues OMEGA’s longstanding tradition of marking milestones toward each Olympic and Paralympic Games. As the Official Timekeeper for Dakar 2026, OMEGA will provide state-of-the-art timing systems — including photofinish cameras, electronic starting pistols, and quantum timers — to ensure precise and fair competition.

Set to run from October 31 to November 13, 2026, Dakar 2026 will feature around 2,700 young athletes competing in 153 events across three venues: Dakar, Diamniadio, and Saly. The Games are expected to inspire a new generation of African athletes and celebrate the continent’s growing role in global sport.

AfDB, Congo strengthen partnership for economic growth, integration

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The African Development Bank Group (AfDB) and the Republic of Congo have reaffirmed their commitment to strengthening cooperation in economic diversification, infrastructure, energy, and regional integration, ahead of the Bank’s 2026 Annual Meetings to be held in Brazzaville.

A high-level AfDB delegation, led by Senior Vice President Marie-Laure Akin-Olugbade, visited Congo from October 26 to 28, 2025, to discuss strategic development priorities and review progress on key joint projects. The delegation met with President Denis Sassou Nguesso and senior government officials, emphasizing the strong partnership between the Bank and the Congolese government.

Talks centered on implementing Congo’s 2022–2026 National Development Plan, which focuses on economic transformation through diversification, energy expansion, and regional trade integration. The discussions also reviewed preparations for the AfDB Annual Meetings scheduled for May 2026 in Brazzaville.

During the visit, the delegation held meetings with Jean Jacques Bouya, Minister of State for Land Use Planning and Public Works, and Ludovic Ngatsé, Minister of Planning, Statistics, and Regional Integration. The team also toured the national data centre project in Brazzaville, financed by the AfDB, accompanied by Minister Ngatsé and Léon Juste Ibombo, Minister of Post, Telecommunications, and the Digital Economy.

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Minister Ngatsé, who serves as the AfDB Governor for the Republic of Congo, described the visit as “a new stage in the exemplary partnership between the Republic of Congo and the African Development Bank.”

“We welcome the Bank’s continued support for our vision of economic diversification, agricultural transformation, and regional integration, which are central to Congo’s future prosperity,” he said.

AfDB Senior Vice President Akin-Olugbade praised Congo’s progress and reaffirmed the Bank’s commitment to supporting transformative projects.

“Our discussions focused on flagship initiatives in transport, energy, and agriculture, as well as regional programs that will strengthen economic integration and support the African Continental Free Trade Area, starting in Central Africa,” she stated.

Preparations for the 2026 Annual Meetings are being coordinated by a National Preparatory Committee led by Minister Bouya. A memorandum of understanding for hosting the meetings was signed in September 2025, a milestone that underscores Congo’s dedication to the event’s success.

The Annual Meetings are expected to spotlight Congo’s economic potential, infrastructure progress, and reform agenda, while positioning Brazzaville as a key destination for regional investment dialogue.

With an active portfolio of $223 million—focused on sovereign operations—the AfDB continues to support infrastructure and integration projects such as the Ndendé-Dolisie and Ketta-Djoum road corridors and the rollout of fibre-optic networks linking Congo with Cameroon and the Central African Republic.

The Bank is also advancing agricultural diversification through initiatives like the Integrated Agricultural Value Chain Development Project (PRODIVAC) and the expansion of Protected Agricultural Zones (ZAPs) to enhance food security, create jobs, and empower women and youth.

Senegal’s Energy Minister to spotlight investment prospects at MSGBC Oil, Gas & Power 2025

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Senegal’s Minister of Energy, Petroleum and Mines, Birame Soulèye Diop, will lead discussions on investment opportunities and energy transformation at the upcoming MSGBC Oil, Gas & Power 2025 Conference and Exhibition, scheduled to take place in Dakar from December 8–10, 2025.

Minister Diop is expected to highlight Senegal’s latest oil and gas milestones and outline how current developments are reshaping regional energy dynamics. His presentation will also explore strategies to attract new investments that will strengthen Senegal’s role as a hub for industrialization and sustainable energy growth.

Following the successful launch of the Sangomar oilfield project in 2024 and the Greater Tortue Ahmeyim (GTA) gas project earlier this year, Senegal is entering a new phase of energy expansion. Plans are underway to bring GTA to full operational capacity and advance its second phase, expected to boost production to five million tons annually. The government is also seeking partners to develop the deep-water offshore Yakaar-Teranga gas field, which holds an estimated 25 trillion cubic feet of gas.

In alignment with Senegal Vision 2050, the Ministry of Energy, Petroleum and Mines is modernizing the nation’s regulatory and fiscal frameworks to attract long-term investors. A comprehensive review of investment, gas, oil, mining, and electricity codes is currently underway to create a stable and investor-friendly environment that also safeguards local interests.

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Infrastructure development remains central to Senegal’s energy agenda. The state-owned Réseau Gazier du Sénégal is constructing a $1 billion, 400-kilometre national gas pipeline network connecting key offshore fields like GTA and Yakaar-Teranga to industrial and power hubs across the country. Once completed, the network—capable of transporting up to 2.5 billion cubic meters of gas annually—will enable the transition of power plants from fuel oil and coal to natural gas, cutting both energy costs and carbon emissions.

On the downstream front, Senegal is pursuing the SAR 2.0 refinery expansion project, which aims to boost refining capacity from 1.5 million to 5.5 million tons per year by 2029. The $2–$5 billion investment will help meet domestic fuel demand and position Senegal as a major exporter of refined petroleum products within West Africa.

“Ongoing developments underscore Senegal’s growing role as a hub for energy investment within the MSGBC region,” said Sandra Jeque, Project Director at Energy Capital & Power. “Minister Diop’s participation at the MSGBC Oil, Gas & Power 2025 Conference will be pivotal in linking high-impact projects with strategic investors and driving the next phase of the country’s energy evolution.”

For participation and sponsorship opportunities, visit www.MSGBCOilGasAndPower.com
or contact sales@energycapitalpower.com
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