African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has entered into a Memorandum of Understanding (MoU) with the Caribbean Export Development Agency (CEDA) to formalise collaboration between the two institutions and provide a platform for exploring joint activities to support trade and investment flows between Africa and the Caribbean, and other collaborations.

According to the terms of the MoU, signed on June 14, 2024, at the 31st Afreximbank Annual Meetings (AAM2024) and the 3rd AfriCaribbean Trade and Investment Forum (ACTIF), held in Nassau, The Bahamas, Afreximbank and CEDA will collaborate in capacity building and technical collaboration, knowledge sharing and information exchange, and trade and investment promotion and facilitation. The MoU is expected to result in increased trade and investment between Africa and the Caribbean, thereby encouraging mutual economic growth and development.

Signing the MoU on behalf of Afreximbank was Oluranti Doherty, Director, Export Development who represented Kanayo Awani, Executive Vice President, Intra-African Trade&Export Development Bank, while Leo Naut, Deputy Executive Director and Officer-in-Charge of CEDA, signed for his organisation.

Commenting on the MoU, Mrs. Awani said that the signing was part of Afreximbank’s efforts to see the concretisation of the African Union’s vision in designating the African Diaspora as the sixth region of the continent.

She highlighted Afreximbank’s significant progress in the Caribbean, including the inclusion of CARICOM member states in the African Vaccine Acquisition Trust (AVAT) program. She noted that 11 Caribbean Community member countries have joined the Bank as participating states, with the rest expected to join soon. Noteworthy achievements also encompass the hosting of three annual AfriCaribbean Trade and Investment Forums, the opening of an Afreximbank Regional Office in Barbados and the disbursement of financing facilities to St. Lucia for climate adaptation projects, and  Barbados for the development of sports infrastructure

Mrs. Awani attributed the success of those activities, in part, to the support received from key institutions in the Caribbean region and expressed confidence that the strategic partnership with CEDA would lead to a substantial increase in trade and other levels of economic cooperation between Africa and the Caribbean.

AAM2024, which was combined with the third AfriCaribbean Trade and Investment Forum (ACTIF2024), took place in The Bahamas from 12 – 15 June 2024.

Distributed by APO Group on behalf of Afreximbank.

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About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2023, Afreximbank’s total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

For more information, visit: www.Afreximbank.com

On the recent International Day for the Elimination of Conflict-Related Sexual Violence, the United Nations Mission in South Sudan (UNMISS), local authorities and civil society representatives in Jonglei State came together to manifest their collective commitment to hold perpetrators of these crimes accountable.

At the event, organized by the peacekeeping mission, emphasized the importance of protecting keeping community members, particularly women and children, safe. Those in attendance also paid tribute to survivors of sexual violence and people who have, successfully or not, tried to stop these crimes from being committed.

“We will further strengthen our judicial system to increase accountability and encourage the reporting of this kind of incidents when they take place,” said Atong Kuol, Acting Governor of Jonglei State, who appealed to citizens not to stigmatize survivors of sexual violence, as this harmful cultural practice strongly discourages bringing these crimes to the attention of the police and other relevant authorities.

While commending security forces for their hard work to protect civilians, Geetha Pious, Head of the UNMISS Field Office in Bor, observed that crimes, of a sexual nature or not, are showing no signs of decreasing.

“In our region, the increasing violence and widespread nature of abductions being used as a weapon of war is a major concern. The proliferation of arms has destroyed the social and economic fabric of some communities, eroding values of compassion, humaneness, and kindness in the process,” she said.

The taboos surrounding rapes and other forms of sexual violence mean that information about such traumatic incidents must be kept strictly confidential to protect survivors’ dignity and standing in their communities.

Health workers are among the extremely few people who need to be aware of what has happened to their patients. Unfortunately, details sometimes leak, with devastating effects on already shocked girls and women, who are often the ones being subjected to sexual violence.

This point was stressed by Lual Monyluak Dau, Minister of Health in Jonglei State, who issued a stern warning to doctors and nurses.

“Those found in violation of breaching confidentiality will face legal consequences,” the Minister stated.

A cruel irony illustrating the devastating impact of gaps in the justice system, not least between traditional mechanisms and formal courts was brought up by activist Elizabeth Ayen.

Rape can lead to intercommunal conflict and loss of life.

“When traditional justice mechanisms are used, rapists are often ‘rewarded’ by becoming married to the person they have assaulted. This practice sends wrong and dangerous signals,” she stressed.

Stakeholders agreed that sexual violence is not only an unfathomable personal trauma for survivors but can also be the direct cause of intercommunal violence, thus putting countless of people’s lives at risk.

Distributed by APO Group on behalf of United Nations Mission in South Sudan (UNMISS).

Webb Fontaine (www.WebbFontaine.com), a leading provider of solutions for trade facilitation, is pleased to announce the launch of Sourcemind Academy in Guinea. This innovative educational venture, backed by Webb Fontaine, is set to transform the tech education landscape by offering high-level training, cutting-edge pedagogical design and experienced professional trainers to future software engineers and technology enthusiasts.

The launch of Sourcemind Academy in Guinea marks a significant milestone in Webb Fontaine’s ongoing commitment to corporate social responsibility, and to promoting educational development in emerging markets. This project comes against the backdrop of the end of Webb Fontaine’s concession with the Guinean state, requiring a crucial transfer of skills and technologies to ensure the continuity and development of the Single Window of Foreign Trade of Guinea, launched in September 2019.

Ara Shamirzayan, CTO of Webb Fontaine Group said, “We are thrilled to bring Sourcemind Academy to Guinea. We believe in nurturing the next generation of software engineers by providing them with access to quality education and training. We also believe that education is the key to unlocking potential and driving economic growth and development, and we are committed to making this a reality in Guinea.”

Mamoudou DIANÉ, Managing Director of Webb Fontaine Guinea, added, “We are extremely proud to collaborate with Sourcemind Academy to train the next generation of software engineers in Guinea. This initiative is crucial for ensuring the continuity and efficiency of The Single Window of Foreign Trade of Guinea after the end of our concession. By investing in the development of local skills, we are not only contributing to the modernization of foreign trade in Guinea but also creating economic opportunities for the young talents in our country.”

Sourcemind Academy has made significant strides in promoting tech talent through five successful pathway programs across Armenia and Benin. Building on this success, the academy is expanding its reach to Guinea, aiming to empower local students, young graduates with the expertise and capabilities necessary for a thriving career in the technology sector.

Building on this success, the academy is expanding its scope to Guinea, aiming to equip local students and professionals with the skills and capabilities needed for a thriving career in the technology sector. To date, the Sourcemind Academy’s impact includes 1,082 applicants, 108 students, 58 alumni and 11 people hired by Webb Fontaine. The academy’s curriculum is designed to cover a wide range of topics, including software development, data structures and algorithms, front-end development and more. By equipping students with these in-demand skills, the academy aims to contribute to the growth of the local tech ecosystem and create job opportunities for the youth in Guinea.

During the first four months of the pathway program, students will learn the foundations of software engineering and gain practical experience through a hands-on and highly interactive instructive-led curriculum. Upon completion of the foundation stage, participants can broaden their knowledge by specializing in java back-end engineering.  Students will also be exposed to agile software development and essential soft skills, both of which are crucial for success in the IT industry.

This pathway program is accessible to anyone curious about how things work. Ideal students include university graduates who wish to follow a career in the IT industry, open-minded enthusiasts with the determination to succeed, and those looking to make a career change to software engineering.

About Webb Fontaine Guinea

Webb Fontaine Guinea is a company dedicated to facilitating trade transactions and simplifying import and export procedures for declarants and economic operators playing a central role in the economic development of the Republic of Guinea, thanks to our cutting-edge technologies and innovative solutions.

The Single Window of Foreign Trade of Guinea

Launched in September 2019, The Single Window of Foreign Trade of Guinea is an integrated platform set up by the Guinean state for a 5-year concession granted to the Webb Fontaine Group. This platform enables all players involved in foreign trade in Guinea to carry out their transactions anywhere in the world, offering a single gateway to international trade. GUCEG is an interactive portal designed to facilitate import and export operations in the Republic of Guinea.

Electronic tracking of goods in transit

Last July, Webb Fontaine signed a contract with the Guinean Customs to implement an electronic tracking system for goods in transit. This new project demonstrates our ongoing commitment to improving the transparency and efficiency of customs operations in Guinea. The electronic tracking system enables goods in transit to be monitored in real time, reducing the risk of fraud and ensuring more secure and efficient management of trade flows.

What we do (Our Services)

Facilitate, simplify and dematerialize import and export operations:

The GUCEG platform covers a wide range of services, from pre-clearance to customs clearance, and soon logistics for port, airport, air and rail traffic.

Public access services:

– Access to legal texts and regulations relating to import and export transactions.

– Customs duties and taxes simulator.

– List of manifests and other services for complete visibility of the import and export process.

Private access services :

– Import and export declaration of intent management.

– On-line payment of DDI/DDE and customs duties and taxes.

– Pharmaceutical license management.

Electronic tracking of goods in transit:

The new electronic goods tracking system enables you to:

– Track goods in transit in real time.

– Reduce the risk of fraud and tax evasion.

– Guarantee more secure and transparent management of trade flows.

At Webb Fontaine Guinea, we are committed to modernizing and optimizing foreign trade in the Republic of Guinea, leveraging our expertise and advanced technologies to deliver reliable and efficient solutions to our users. Our mission is to facilitate trade and support the country’s economic development through continuous innovation and high-quality services.

Distributed by APO Group on behalf of Webb Fontaine.

About Webb Fontaine:
Established in 2002 and headquartered in Dubai, UAE, Webb Fontaine is a leading technology company specializing in Artificial Intelligence-driven solutions for global trade. With offices spanning Europe, the Middle East, Asia, and Africa, the company leverages its extensive expertise to provide governments and communities with innovative solutions that streamline trade processes and enhance efficiency.   

Webb Fontaine is renowned for its pioneering technologies that help reduce trade fraud, improve customs revenue, and expedite clearance times, supporting smoother and more profitable trading ecosystems. The company prides itself on a diverse workforce of over 700 professionals from 41 nationalities, emphasizing a culture of excellence, innovation, and integrity.   

The firm’s commitment to research and development is unmatched, owning the largest R&D centres in the trade sector, which are pivotal in advancing trade technology and practices. Webb Fontaine’s accolades include numerous international awards and certifications, underscoring its dedication to quality and leadership in trade facilitation.   

South Africa’s diversified energy company Central Energy Fund (CEF) will join the African Energy Week (AEW): Invest in African Energy conference – scheduled for 4-8 November in Cape Town – as a Platinum Sponsor and Gold Exhibitor, marking its third consecutive year sponsoring Africa’s premier energy event. CEF’s participation underscores its commitment to driving energy security and sustainable development across southern Africa, with the merger of three CEF subsidiaries set to streamline operations and improve efficiency within the sector.

This year marks a pivotal turning point for South Africa’s petroleum industry, as CEF subsidiaries – national oil company PetroSA, iGas and the Strategic Fuel Fund – merge to form the South African National Petroleum Company (SANPC). SANPC will initially be incorporated as a subsidiary of the CEF Group until the National Petroleum Bill is promulgated into law​. The national petroleum company will focus on oil and gas exploration, production, midstream and downstream operations and infrastructure development, with a broad mandate to acquire, generate, manufacture, market and distribute various forms of energy, including renewables.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

To date, CEF has played a key role in addressing South Africa’s energy needs and driving regional energy development. With activities spanning oil, gas, coal, renewables and alternative energies, the company is committed to ensuring South Africa’s energy security and that of the broader Southern African Development Community. Through its proactive engagement and strategic investments across diverse energy sub-sectors, CEF not only serves to bolster the stability of energy South Africa’s supplies, but also pioneer sustainable practices that harmonize economic growth with environmental stewardship.

CEF is currently in the process of acquiring South Africa’s largest oil refinery, the 180,000-barrel per day Sapref plant. The acquisition is seen as a crucial step toward expanding the country’s refining capacity and supporting CEF’s growth strategy. By acquiring Sapref – a joint venture between Shell and bp – CEF aims to stabilize the country’s fuel supply chain, mitigate risks associated with fuel imports and create job opportunities. Moreover, with over 50 million barrels of fuel storage capacity, CEF stands poised to address growing domestic and regional demand for refined petroleum products, ensuring sustained energy provision across Mpumalanga and the Western Cape.

In addition to its operations in South Africa, CEF’s influence extends across the continent through strategic partnerships and investments. CEF recently concluded its acquisition of a 30% stake in the Republic of Mozambique Pipeline Company (Rompco), alongside Companhia Moçambicana de Gasoduto. The move solidifies CEF’s role in the ownership structure of Rompco, a critical infrastructure asset operating the 865-km gas transmission pipeline from Mozambique to South Africa. Additionally, CEF is at the forefront of developing and commercializing alternative energy resources and innovative technologies, with its portfolio including a 15% stake in the 100 MW Redstone Solar Thermal Power Plant and Molten Salt Energy Storage System.

“CEF plays a pivotal role in South Africa’s energy landscape and the SADC region, continuously driving innovation and sustainability. The merger of CEF subsidiaries to form the newly anointed SANPC marks a pivotal step forward in streamlining operations, enhancing efficiency and driving new energy exploration and production,” states NJ Ayuk, Executive Chairman of the African Energy Chamber. “With its Platinum Sponsorship, CEF will play a central role in fostering collaboration and showcasing its capabilities at AEW 2024: Invest in African Energy.”

Distributed by APO Group on behalf of African Energy Chamber.