Africa Finance Corporation (AFC) (www.AfricAFC.org), Africa’s leading infrastructure solutions provider, in partnership with Italy’s national development finance institution Cassa Depositi e Prestiti S.p.A (CDP) yesterday announced a landmark Memorandum of Understanding (MoU) that sets out to elevate Italian-African business collaboration, contributing to sustainable growth and prosperity on a global scale.

AFC and CDP signed their commitment yesterday at the Italy-Africa Business Dialogue Forum in Rome. The strategic alliance endeavours to bolster African infrastructure, harness natural resources, and propel industrial development through shared expertise and enhanced financial cooperation, while fostering the internationalisation of Italian businesses and expanding their global footprint.

The two institutions will work together to identify and engage in future partnerships and co-financing opportunities in development and infrastructure projects with governments, companies and financial entities. The institutions will create a shared platform to foster dialogue between Italian and African companies in AFC’s member countries.

Samaila Zubairu, President&Chief Executive Officer of AFC, said: “This strategic MoU with CDP marks a pivotal step in expanding our impact throughout Africa by utilising our extensive connections to international capital and expertise. By combining our resources and networks, we are poised to expand our record of transformative projects to catalyse sustainable development and economic advancement across the region.”

Paolo Lombardo, International Development Cooperation Director at CDP, said: “This agreement is key for both institutions and crucial to foster synergies in the broader global development arena.  Partnering with AFC, with its unique track record of transformational infrastructure, enhances support for companies and investors striving for Africa-focused growth and economic integration.”

Building on a robust partnership that started with a significant EUR 100 million loan agreement in 2022 to fuel renewable energy and climate-resilient projects and continued with a EUR 50 million loan announced at COP28 for further sustainable development projects, this MOU reinforces these financial engagements and expands the scope of cooperation through new initiatives that promise to enhance Africa’s economic and environmental landscape.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile : +234 1 279 9654
Email : yewande.thorpe@africafc.org

About AFC:
AFC was established in 2007 to be the catalyst for private sector-led infrastructure investment across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.

Seventeen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 43 member countries and has invested US$13 billion across Africa since inception. www.AfricAFC.org

About CDP: 
CDP is the Italian National Promotional Institution and the Financial Institution for International Development Cooperation entrusted by the Italian State to foster the sustainable development of Italy and of developing countries and emerging markets. CDP supports economic growth, social inclusiveness and ecological transition by investing in innovation, business competitiveness, infrastructures and local development, having allowed in 2023 the activation of investments worth a total of 20,1 billion euros (1.4% of Italy’s GDP), of which 83% dedicate to sustainable project, also thanks to the attraction of resources from third-party investors and co-financiers.

ICD (http://www.ICD-ps.org) and Ziraat Bank Uzbekistan signed an Expression of Intent for the USD 10 million Line of Financing Facility aimed at supporting eligible private sector projects in Uzbekistan; This agreement initiates a partnership between ICD and JSC Ziraat Bank Uzbekistan, reflecting ICD’s strategic commitment to bolstering private sector growth within its member nations.

At the 3rd Tashkent Investment Forum, the Islamic Corporation for the Development of the Private Sector (ICD) and JSC Ziraat Bank Uzbekistan, formalized an expression of intent to partner to collaborate in empowering small and medium-sized enterprises (SMEs) and fostering economic growth in Uzbekistan.

Through this partnership, ICD will provide JSC Ziraat Bank Uzbekistan with a Line of Financing (LoF) facility, to fund private sector projects as an agent of ICD. This initiative is poised to significantly boost the SME landscape in Uzbekistan by equipping entrepreneurs with the necessary resources to initiate and grow projects that meaningfully contribute to the national economy.

Ziraat Bank Uzbekistan, now a strategic partner for ICD, stands out as a prominent commercial bank with foreign capital. The new LoF facility not only marks the commencement of collaboration between the two entities, but also underscores ICD’s dedication to advancing the private sector within its member countries, further solidifying its role in spurring economic development across the Islamic world.

Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

For further details, please contact:
Nabil El-Alami
Communications&Corporate Marketing Division head 
Nalami@isdb.org

About JSC Ziraat Bank Uzbekistan:
The Uzbek-Turkish Bank – Ziraat Bank has been actively working in the country for 20 years, and the Republic of Uzbekistan has long been successfully cooperating with business circles of various countries of the world demonstrating itself as the country with a rapidly developing modern commercial industry. 

The Bank belongs to a universal category of banks that are active in the corporate segment. This refers to lending to companies, and above all, joint Uzbek-Turkish companies, small and medium-sized enterprises, private entrepreneurship, conducting and executing export-import operations.

The Bank with its 6 branches and banking services offices across the country, it has been providing the financial services to all entrepreneurs and individuals in Uzbekistan. For more information on Ziraat Bank Uzbekistan visit: https://www.ZiraatBank.Uz/en.

About the Islamic Corporation for the Development of the Private Sector (ICD):
ICD is a multilateral organization and a member of the Islamic Development Bank (IsDB) Group. ICD’s mandate is to support economic development and promote the growth of the private sector in its member countries through providing financing facilities and/or investments in accordance with Shariah principles. Additionally, ICD offers advisory services to governments and private organizations to encourage the establishment, expansion, and modernization of private enterprises.  ICD is rated ‘A2’ by Moody’s, ‘A+’ by Fitch, and ‘A-’ by S&P.

Global provider of network services, and digital solutions, Angola Cables is partnering with Cameroon’s incumbent telecommunications operator, Camtel to expand digital and connectivity services in Cameroon and the West Africa region.

The agreement follows an intent by both parties to develop business opportunities in West Africa and the Atlantic region to boost redundancy, network resilience and the quality of services (QoS) both nationally and internationally. Taking advantage of the extensive subsea cable connections of SACS, WACS, and Monet within the robust backhaul network of Angola Cables – and the added connectivity provided by Camtel on the South Atlantic Inter Link (SAIL), businesses and enterprises will have extended capacity options with a better traffic access to West Africa local and regional networks through Angola Cables and Camtel’s Points of Presence (PoPs).

“The partnership once the necessary due diligence has been completed, could transform internet connectivity and data transmission in West Africa,” so says Fernando Fernandes, Country Manager of TelCables Nigeria, a subsidiary of Angola Cables.

CAMTEL CEO, Judith Yah Sunday Epse Achidi said, “Our strategic intent is to build on the robust backhaul connectivity of the Angola Cables network, and the existing interconnections we have in place with other submarine cables connecting the region and the world, to provide flexible and secure value added services for our clients and businesses.”

The agreement signifies an important step in advancing telecoms and digital connectivity in Africa. “For users, it will help to secure connectivity, trade, boost economies and help expand as well as grow businesses across the region,” concluded Fernandes.

Distributed by APO Group on behalf of Angola Cables.

NOTE TO EDITORS:
About Angola Cables:
Angola Cables is an internationally established ICT and digital solutions and network services provider, and has been ranked as the most interconnected operator* on the African continent. Through our integrated IP networks, and data centres, we provide extensive, low-latency, direct access connectivity to the largest IXPs, Tier 1 operators, and global content providers.

Through our owned, high-capacity SACS, Monet, WACS, and third-party submarine cable networks, the company directly connects to more than 20 Points of Presence, and Internet Exchange Points in the Americas, Africa, Europe, and Asia.

Angola Cables also operates two data centres, AngoNAP Fortaleza Tier III (Brazil), and the data centre, AngoNAP Luanda (Angola). The company also manages PIX in Brazil and Angonix Angola – one of the largest Internet Exchange Points (IXPs) in Africa. Through our partners, and resellers in selected markets we offer advanced, and secure connectivity solutions, and services to a range of customers across multiple industries.   

 *The Center for Applied Internet Data Analysis (CAIDA) 2022 

For more information, please visit: www.AngolaCables.co.ao

About CAMTEL:
Cameroon Telecommunications (CAMTEL), created in 1998, is the fully owned state telecom operator, and national lead provider of Carrier, Fixed, and Mobile broadband including ICT&digital solutions. Its 25 years of existence is garnered with a fleet of competitive, and tailored telecom services implemented by a host of experienced professionals from varied fields.

CAMTEL owns, and operates resilient networks including: a robust national backbone fiber connectivity with the CEMAC region including Nigeria, Chad, Central Africa Republic, Democratic Republic of Congo, Congo, Gabon, and Equatorial Guinea through its multiple submarine cables (SAIL, WACS, SAT3 and NCSCS) landing at 03 stations with Gateways, a Tier III designed Data Centre in Yaounde – Zamengoe, and 03 Satellite ground stations. CAMTEL is also at the heart of the West to East Africa initiative – WE-Africa-NA – a high-speed digital corridor connecting the Gulf of Guinea to the Horn of Africa.

For more information, please visit: www.CAMTEL.cm/

About TelCables West Africa:
TelCables West Africa is a Nigerian provider of network services and digital solutions and is the local operation for Nigeria and West Africa countries of Angola Cables, an internationally established ICT multinational ranked* as the number 33 operator in the world.

The company also provides a wide range offer of Cloud and integration services, IP networks and integrated access to worldwide to data centres, which provide direct, comprehensive, and low-latency access connectivity to the largest IXPs, Tier 1 operators and global content providers.   

The company specializes in connectivity and IT solutions and services as well as the commercialisation of international data circuit capacity and IP Transit via submarine cables.

Our shared values and mission are to provide secure and low-latency connectivity to companies from West Africa to worldwide users. Our proven track record and dedicated team of IT and network professionals are here to partner you in expanding and advancing the capabilities of your network and business.

As the most connected network operator in Africa, we provide direct routings from West Africa to the USA and South America and from West Africa to London at the lowest latency. With our presence across several Nigerian IP hubs from Lekki, WACS CLS, Medallion DC, Rack Centre and others, and connections across Africa via the Djoliba network, we can connect your business to the world.

LCH Consultancy&Associates (www.LCHConsultancy.com), an integrated advisory and strategic corporate communications agency focused on African development, is delighted to announce the appointment of Evelyn Wangui as the newest addition to its growing team to support the agency’s expanding global client portfolio.

With over ten years of experience in strategic public relations, Evelyne brings a wealth of knowledge and expertise to LCH Consultancy&Associates. As Director of Content and Media Relations, she will be pivotal in strengthening strategic services across the African region. 

During her career, Evelyne has represented many multinational organisations from various industries, operating in both corporate and developmental spheres. She was educated in Kenya, studying journalism and political science at Nairobi University.

Commenting on her appointment, Evelyne said, “I am delighted to join this talented team of inspirational and highly motivated peers. This marks an exciting milestone in my profession. I look forward to innovating and executing new forms of corporate communications blended with business advisory.”

Lydia-Claire Halliday, Founder and Executive Director of LCH Consultancy&Associates, welcomed Evelyne. She noted that her entry aligns with the agency’s ongoing commitment to attract unique talent for continued world-class client support. “With this growing talent pool, I am confident that our clients will benefit from unparalleled communications and stakeholder relations support. We encourage both collaboration and intrapreneurship, which paves the way for our team’s development and success.”

LCH Consultancy was launched in 2012 to bridge the global knowledge gap by representing Africa and the corporations, organisations and people vested in its empowerment and equitable development. In 2023, the company officially rebranded as LCH Consultancy&Associates, representing the vital contribution of colleagues.

The agency specialises in three core areas: 

Investor Relations – supporting capital and debt raising while maintaining the perception of value across the global investment community. In this role, LCH Consultancy&Associates advises on price-sensitive commercial developments and business strategies to local and global audiences.
Corporate Communications – developing and executing communications plans that strengthen relationships with the media, public, industry, regulatory, and government stakeholders.
Strategic Business Advisory –  providing unique intelligence, analysis, and insights to clients distinguished by a deep understanding of the opportunities present in Africa. This service has been instrumental in enabling clients to make informed decisions regarding their business development and identify partnerships and strategic alliances.

Distributed by APO Group on behalf of LCH Consultancy&Associates.

Notes to Editors:
For more information, see www.LCHConsultancy.com 

Contacts:
Lydia-Claire Halliday
LCH Consultancy&Associates
lydia@lchconsultancy.com
+254708000510

Evelyne Mungai
LCH Consultancy&Associates
evelyne@lchconsultancy.com
+254726087451