The Trade and Development Bank (TDB) recently announced (https://apo-opa.co/3ThSjGV) that its total assets reached the $10-billion mark for the first time. With an asset growth rate of 21% year-on-year, the firm’s total equity rose by 13% to $2.2 billion, while its net profit grew by 11% to $230 million this year, resulting in a return on equity of 11% for stakeholders.

With economic growth (https://apo-opa.co/3ANgiHv) of 6.1% expected by the end of 2024 – up from 5.3% in 2023 – the West African Economic and Monetary Union bloc, which includes Senegal, Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger and Togo, has benefitted in recent years from favorable developments in trade and export commodities. The participation of TDB Group Executive for Central and Western Africa, John A.K. Esther, as a speaker at this year’s MSGBC Oil, Gas&Power conference (https://apo-opa.co/47dXxJy) is set to showcase the region’s burgeoning economic growth prospects, driven by major developments in oil and gas, mining and infrastructure sectors.

Explore opportunities, foster partnerships and stay at the forefront of the MSGBC region’s oil, gas and power sector. Visit www.MSGBCOilGasAndPower.com to secure your participation at the MSGBC Oil, Gas&Power 2024 conference. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Operating in eastern and southern Africa, TDB plays a critical role in fostering trade, regional integration and sustainable development through the provision of trade finance, project and infrastructure finance, asset management and business advisory services. In April this year, the bank signed a MOU to foster collaboration in the financing of trade and development in Senegal (https://apo-opa.co/4ecf5b5). The agreement establishes a framework for encouraging collaboration and sustainable economic growth in energy, infrastructure, healthcare, education, financial institutions, agriculture and food security.

Meanwhile, TDB secured a $100-million finance facility from the UK’s British International Investment in March this year to support local businesses and financial institutions in Africa, with a view to stimulating trade activity, boosting economic resilience and improving access to goods and services. The bank also joined forces with the African Development Bank in February to support the rollout of clean technology and low-carbon projects across the continent.

“The MSGBC region stands as one of the premier frontiers for energy, mining and infrastructure development. Brimming with untapped potential, we look forward to insights from the Trade and Development Bank into how West Africa can better leverage alternative finance and credit tools to advance critical projects,” states Energy Capital&Power Conference Director, Sandra Jeque.

With 20 years of experience in corporate banking and insurance, Esther’s participation at MSGBC Oil, Gas&Power 2024 will showcase the institution’s strategies for de-risking and improving access to finance for Africa’s large-scale energy and infrastructure developments. As a speaker, Esther is expected to highlight strategies for finance firms to boost intra-African trade, promote regional integration and mitigate the trade finance gap.

Distributed by APO Group on behalf of Energy Capital&Power.

United Nations Secretary-General António Guterres has appointed Issa Sanogo of Côte d’Ivoire as the United Nations Resident and Humanitarian Coordinator in Cameroon, with the host Government’s approval.  His start date was 1 September.

Mr. Sanogo brings almost 30 years of experience in development and humanitarian work.  Previously he served as UN Resident and Humanitarian Coordinator in Madagascar and has held leadership positions with the World Food Programme (WFP) in Côte d’Ivoire, Lebanon, Chad, Italy and Thailand.  Prior to joining the United Nations, he was an economist with the World Bank in Guinea and held Government positions in Côte d’Ivoire.

Mr. Sanogo holds a doctorate in development economics, complemented by master’s degrees in financial and economic analysis of development projects and analysis and management of economic policies from the School of Economics (CERDI) of the University of Auvergne in France.

Distributed by APO Group on behalf of United Nations Secretary-General.

The Government of the People’s Republic of China, through the Chinese Ambassador to Sierra Leone, Wang Qing, has awarded the International Fish Export Certificate to Sierra Leone during the ninth Forum on China-Africa Cooperation Summit.

The certificate was granted following the signing of the Protocol on Inspection, Quarantine, and Sanitary Requirements for Wild Aquatic Products, enabling Sierra Leone to directly export its fish products to China.

During the presentation of the signed Protocol, Sierra Leone’s Minister of Fisheries and Marine Resources, Princess Dugba, expressed her deep appreciation for the certificate, emphasising its importance as a key achievement of the China-Africa Cooperation.

“Prior to now, my country has been losing huge revenues in the fish value chain because fishery products could not be exported directly to China except indirect exportation through other regional countries and through certified third parties,” Minister Dugba noted.

She further stated that the Fish Export Certification would unlock new opportunities for direct fish trade between Sierra Leone and China, significantly boosting revenue generation.

The Minister assured the gathering that her Ministry would strictly enforce all hygiene and sanitary requirements necessary for the risk assessment of aquatic products exported to China.

Minister Dugba also expressed gratitude to the Chinese Ambassador and the staff of the Chinese Embassy in Sierra Leone for their support in facilitating the certification. She revealed plans to engage the Embassy in Freetown and the FAO in discussions about launching a School Fish Farming Project to further enhance Sierra Leone’s fisheries sector.

The signed Protocol was officially presented to Sierra Leone’s Ambassador to China, Abu Bakar Karim, by the Chinese Ambassador to Sierra Leone, Wang Qing. The agreement was executed between the Ministry of Fisheries and Marine Resources of Sierra Leone and the General Administration of Customs of the People’s Republic of China.

Distributed by APO Group on behalf of State House Sierra Leone.

On the evening of September 3, 2024, President Xi Jinping met with Mauritanian President Mohamed Ould Cheikh Ghazouani, who is in China for the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC), at the Great Hall of the People in Beijing. The two heads of state announced the elevation of the China-Mauritania relationship to a strategic partnership.

Xi Jinping stressed that China and Mauritania are good friends and close brothers who trust and help each other. The two sides have always respected each other and treated each other as equals, with solid political mutual trust, fruitful cooperation results and deep-rooted friendship between the two peoples. China appreciates Mauritania for standing firmly with China on issues concerning China’s core interests and will, as always, steadfastly support Mauritania in pursuing a development path suited to its own national conditions. China is ready to work with Mauritania to promote Belt and Road cooperation, deepen cooperation in fisheries, infrastructure and other fields, leverage the role of the agricultural and animal husbandry technology demonstration center in aid of Mauritania, accelerate cooperation in Juncao planting technologies, and build China-Mauritania relations into a model of friendly exchanges and win-win cooperation between countries.

Xi Jinping appreciated Mohamed Ould Cheikh Ghazouani’s active contributions as rotating chair of the African Union to the preparations for the FOCAC Beijing Summit, and expressed China’s willingness to work closely with Mauritania to take the summit as an opportunity to pool the strength of the Chinese and African people, build a high-level China-Africa community with a shared future, increase the voice and representation of the Global South countries in global governance, and jointly uphold international fairness and justice.

Mohamed Ould Cheikh Ghazouani said, the friendship between Mauritania and China is solid and profound, and the Mauritanian side is deeply proud of its friendly relations with China. He thanked China for its valuable support for Mauritania’s economic and social development, including the country’s fight against COVID-19. The Mauritanian side firmly abides by the one-China principle and resolutely opposes all words and deeds that violate the one-China principle. At present, the world is facing many risks and challenges, and deepening cooperation with China is the hope of Mauritania and other countries to achieve sustainable development. Mauritania and China hold highly identical positions on Palestine and other major issues. Both sides firmly oppose interference in other countries’ internal affairs, call for respect for the independence of all countries, and reject violent extremism. The Belt and Road Initiative, the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative proposed by President Xi Jinping have provided solutions for all countries to achieve common security and development, and Mauritania highly appreciates and actively supports them. Mauritania looks forward to working closely with China to make the FOCAC Beijing Summit a success and promote peace and development in Africa and the world at large.

Wang Yi was present at the meeting.

Distributed by APO Group on behalf of Embassy of the People’s Republic of China in the Republic of Namibia.