The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (https://ICIEC.IsDB.org), a Shariah-based multilateral insurer and a member of the Islamic Development Bank (IsDB) Group, and the Japan Bank for International Cooperation (JBIC) have signed a landmark Memorandum of Understanding (MoU) to enhance cooperation and support the development of trade and investment flows between ICIEC’s member states and Japan.

This strategic MoU aims to establish  a solid collaboration between ICIEC and JBIC by leveraging ICIEC’s insurance services and JBIC’s financial facilities. The partnership will facilitate transactions involving Japanese companies as exporters, EPC contractors, or investors in projects that promote the development of ICIEC’s member states, with a particular focus on Central Asia.

The collaboration is set to significantly boost trade and investment between ICIEC member states and Japan, including initiatives focused on climate action projects such as renewable energy generation.

Dr. Khalid Khalafalla, Officer-in-Charge of ICIEC said “An MoU exists between the IsDB Group and JBIC since 2016. However, the one ICIEC signed with JBIC is linked to the existing Group-level one. He added that “this MOU formalizes and strengthens the longstanding partnership between ICIEC and JBIC and aligns with our shared vision of promoting sustainable economic development in ICIEC member states. Dr. Khalafalla continued in stating that “By leveraging our respective expertise and resources, we can enhance trade and investment opportunities for the mutual benefit of our stakeholders”.

This agreement marks a significant milestone in ICIEC’s ongoing efforts to foster economic growth and development in its member countries through strategic international partnerships.

Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

Media Contact: 
Rania Binhimd
Strategic Planning and Communications Division
Email:Rbinhimd@isdb.org

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About The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC):
ICIEC commenced operations in 1994 to strengthen economic relations between OIC Member States and promote intra-OIC trade and investments by providing risk mitigation tools and financial solutions. The Corporation is uniquely the only Islamic multilateral insurer in the world. It has led from the front in delivering a comprehensive suite of solutions to companies and parties in its 49 Member States. ICIEC, for the 16th consecutive year, maintained an “Aa3” insurance financial strength credit rating from Moody’s, ranking the Corporation among the top of the Credit and Political Risk Insurance (CPRI) Industry. Additionally, ICIEC has been assigned a First-Time AA- long-term Issuer Credit Rating by S&P with Stable Outlook.  ICIEC’s resilience is underpinned by its sound underwriting, reinsurance, and risk management policies. Cumulatively, ICIEC has insured more than US$ 108 billion in trade and investment. ICIEC activities are directed to specific sectors – energy, manufacturing, infrastructure, healthcare, and agriculture.

For more information, visit: https://ICIEC.IsDB.org

Independent non-profit organization Dialogue Earth has been accused of attempting to mobilize a smear campaign against Africa’s largest refinery – the 650,000 barrels per day Dangote Refinery. The NGO allegedly contacted Nigerian journalist David Hundeyin to produce an article stating that the refinery raises questions about the country’s climate ambitions while assessing the implications of increased fossil fuel utilization in Nigeria. In a statement released on X, Hundeyin highlights the article for what it is: an attempt by a western NGO to use an African voice to endorse energy poverty in Africa.

Representing the voice of the African energy sector and a strong advocate for African voices, the African Energy Chamber (AEC) strongly condemns the dirty tactics employed by Dialogue Earth to hire Africans and use them to destroy their own oil and gas industry. The AEC has long-promoted the critical role oil and gas plays in driving economic development and advancing clean-fuel utilization in Africa. Projects such as Dangote – Nigeria’s first large-scale refinery – stand to transform West Africa by reducing the reliance on imported fuel, increasing the availability of clean and locally-sourced petroleum while creating jobs and business opportunities. The Dialogue Earth campaign is a clear demonstration of how the west is demonizing the industry and preventing any meaningful progress to alleviate energy poverty in Africa.

Dialogue Earth allegedly offered Hundeyin USD $500 to write the article, with the brief highlighting several contradictions and areas of concern. Firstly, Dialogue Earth allegedly shared that the purpose of the article was to identify the environmental implications of the Dangote Refinery on Nigeria, particularly within the context of the country’s energy transition. However, Nigeria has strongly advocated for the role oil and gas plays in its transition, advocating for a just transition whereby the country can reduce emissions in a way that protects the economy and reduces energy poverty. As one of the biggest oil producers in Africa, Nigeria considers oil and gas to be central to creating the conditions by which the country can transition. As the industry grows, it will generate revenue, strengthen economic activities while promoting low-carbon fuel production.  As such, the refinery plays an intrinsic part in the Nigerian energy transition, despite what Dialogue Earth is attempting to state.

Secondly, the brief allegedly includes objectives such as investigating the environmental consequences of the refinery within the context of its adherence to emission standards. As Hundeyin so aptly writes in his statement, Nigeria has long-faced that challenge of relying on imported petroleum, owing largely to the lack of facilities such as Dangote. This has led to West African fuel cargoes – refined internationally ­– featuring toxic waste and sulfur content that is 200 times the European legal limit. Through the Dangote Refinery, Nigeria will not only be able to reduce its reliance on imported petroleum but put in place clear restrictions regarding sulfur content, thereby promoting environmental protection. Yet Dialogue Earth doesn’t seem to care about toxic fuel, only that a refinery that will transform West Africa is put to rest.

The story also aims to explore the geopolitical implications of Nigeria’s growing oil industry and the motivations of the refinery. This is ironic given the lack of recognition by Dialogue Earth to the critical role the refinery plays in developing the economy, contributing to global fuel stability while strengthening the energy industry in Nigeria. This attempted smear campaign shows that NGOs such as Dialogue Earth are only advocating for climate change when it suites them and that they have no problem keeping Africa in the dark, using African voices to do so.

“The AEC fully supports Hundeyin and commends him for standing up against Dialogue Earth. We are wholly against a western NGO trying to use African voices to advance their own biased agenda. The attempt to get a well-known Nigerian journalist to effectively endorse such a smear campaign shows a cowardly approach by the western NGO to try and destroy the African oil and gas industry, all because they can’t do it with their own names or organizations,” stated NJ Ayuk, Executive Chairman of the AEC. 

The recent attempt by Dialogue Earth is just one of the many attempts by western-based and funded NGOs to stop oil and gas projects in Africa. From the East African Crude Oil Pipeline in Uganda to offshore exploration in South Africa to LNG projects in Mozambique, such organizations appear committed to restricting access to energy in Africa.

“We have seen how African crude oil has been treated, how funding for Mozambique LNG has been treated, how the west has constantly attacked South Africa as it tries to develop it its natural gas and how they have constantly attacked other gas projects and cut off financing. These tactics are hurtful to African development, our fight against energy poverty and to young people that want to build strong democracies,” added Ayuk.

Distributed by APO Group on behalf of African Energy Chamber.

World leading health organizations sound alarm on endemic cases of the virus in DRC ; Contipharma’s rapid in vitro LAMP Mpox test provides critical results within 20 minutes 

Contipharma, a pharmaceutical company specializing in the development and marketing of targeted medical solutions, today announces the launch of a LAMP (Loop-mediated isothermal AMPlification) test for Mpox (formerly known as monkeypox). 

Mpox (https://apo-opa.co/4fIlIU7) is a viral disease caused by the monkeypox virus, a species of the genus Orhopoxvirus with two clades (clade I and clade II). It is endemic in Central and West Africa. The disease can be transmitted through physical contact with an infected person, animal or contaminated materials. Symptoms include skin rash or lesions accompanied by fever, headache, muscle aches, back pain, low energy and swollen lymph nodes. According to the UN (https://apo-opa.co/46N0oco), there has been a severe outbreak in the Democratic Republic of Congo (DRC) since the beginning of 2024, resulting in more than 14,000 cases and 51 deaths.  

Rapid detection of Mpox virus can help prevent further spread of the disease. Mpox can be confused with other infections and conditions, such as chickenpox, measles, herpes or syphilis. Contipharma’s LAMP screening kit is a rapid in vitro diagnostic test for the detection of Mpox virus. It can give results within 20 minutes. 

“Our screening kit combines the sensitivity and specificity of a conventional PCR test with the speed of an antigen test, providing a valid result within 20 minutes maximum. The dry version does not require a laboratory visit for authentication and validation,” explains Dr. Hope Sounouvou, Pharm. D, PhD, scientific manager of Contipharma.  

Initial evaluations carried out in Europe have demonstrated the performance of LAMP MPox in terms of specificity and sensitivity. An evaluation to confirm these initial results is currently being carried out in the field with the support of the INRB (Institut National de la Recherche Biomédicale) in Kinshasa (DRC). 

“LAMP Mpox is the result of two years of research and development with the help of Professor-Doctor Jean-Jacques Muyembe of the INRB. It will help to carry out an indispensable, rapid and effective screening in the field with a minimum of laboratory intervention,” explains Bernard Delhez, CEO of Contipharma. “With the Mpox LAMP test, we have developed a product which provides a direct response to the concerns of the DRC’s public health authorities.” 

“The Mpox LAMP will be available in a few weeks’ time once the registration phase has been completed,” adds Dr Sounouvou. 

According to the CDC since 2023 (https://apo-opa.co/3WKFcih), the DRC has reported the largest number of yearly suspected clade I Mpox cases on record. In 2024, there have been reports of spread to neighboring countries including the Central African Republic, the Republic of Congo, Rwanda, Uganda and Burundi. 

Distributed by APO Group on behalf of Contipharma.

Press and analyst contacts:
Andrew Lloyd&Associates 
Saffiyah Khalique / Juliette Schmitt 
saffiyah@ala.associates – juliette@ala.associates  
Tel.: +44 1273 952 481 
For more information, call +32(0)477/205 771 or email e.poskin@e-trust.eu 

About Contipharma:
Contipharma is a pharmaceutical company that specializes in the development and marketing of targeted medical solutions. Its mission is to provide an effective response to ongoing public health issues, where there is a shortage of medication or where price is a barrier to access. 

The company also invests in R&D projects run by innovative biotech and medtech start-ups in Belgium. 

Since January 2021, Contipharma has been supplying rapid Covid-19 antigen tests for the Belgian and international markets. These tests are CE marked and approved for use by the Belgian and French health authorities. They also appear in the list of approved products published by INAMI, the Belgian National Institute for Health and Disability Insurance.  

Contipharma was founded in 2015 and is based in Liège, Belgium. It currently employs eight staff. 

As the largest event of its kind, the Angola Oil&Gas (AOG) conference takes place under a mandate to Drive Exploration and Development Towards Increased Production in Angola – the theme of the 2024 edition. This year will feature a Technical Track as part of the main conference agenda, set to cover innovative solutions to fast-tracking project development, reducing emissions, unlocking liquidity and enhancing efficiency in transport and logistics, among other key topics.

One of the latest project advancements in Angola is TotalEnergies’ Kaminho Deepwater Development, which reached FID May 2024. Comprising the Cameia and Golfinho fields, the project represents the first large deepwater development in the Kwanza Basin and is on track to come online by 2028. Kaminho will utilize an FPSO vessel to produce 70,000 barrels per day (BPD), designed to minimize greenhouse gas emissions and eliminate gas flaring. During AOG 2024, a presentation on Kaminho: Unveiling Mysteries Offshore Exploration will provide a snapshot of the project, offering crucial insight into the various components of development and its technological features.

AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; national oil company Sonangol; the National Oil, Gas and Biofuels Agency; the African Energy Chamber; and the Petroleum Derivatives Regulatory Institute, the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

As sub-Saharan Africa’s second-largest oil producer, Angola has set its sights on maintaining production above one million BPD beyond 2027 through investment in new exploration and well recovery. The country is implementing an “Incremental Production” initiative this year, offering fiscal incentives to entice reinvestment in producing assets. During AOG 2024, global technology company Oceaneering will lead a workshop on Implementing Rigless Intervention Technology for Enhanced Upstream Production that will unpack strategies for boosting production.

While Angola targets new production growth, the country remains committed to reducing emissions across its oil and gas industry. Balancing operational efficiency with sustainability requires innovative solutions, and companies have already committed to advancing low-carbon projects in Angola. Energy major Chevron signed an MOU with the government in 2023 to explore low carbon business opportunities, while international energy company Azule Energy partnered with software firm Palantir Technologies in 2023 to optimize and modernize upstream production operations. During AOG 2024, a panel discussion on Service Sector Solutions: Innovations in Emissions Reduction for Oil and Gas Operations will further examine strategies for reducing emission across oil and gas projects. The technical track will also feature a workshop on Low Carbon Solutions.

With ambitions to increase oil and gas exports while solidifying its position as a regional petroleum hub, Angola is seeking foreign investment in transport and logistics to support projects. Various infrastructure developments are in the pipeline, including the Kwanda Logistics Base; Sonils Port Base; the Paenal Fabrication Yard; Petromar’s Fabrication Yard; and the Dande Oceanic Terminal. The AOG 2024 conference will examine opportunities and challenges across the logistics sector, with a dedicated panel on Driving Efficiency in Transport and Logistics.

Additionally, a session on Next Gen Innovators: Youth-led Solutions for a Thriving Oil and Gas Sector will explore the need for fresh thinking and innovative solutions across the industry. With approximately 75% of the country’s population under the age of 30, the need to strengthen market access for Angolan youth has become increasingly crucial. Bringing newfound technology, innovation and ideas to the industry, the youth have a valuable role to play in advancing the Angolan oil and gas sector.

Meanwhile, the launch of new projects highlights growing demand for both global and regional finance. To reduce its reliance on foreign capital, Angola is encouraging domestic financial institutions to play a larger role in supporting project developments. In addition to driving projects forward, local finance will create further opportunities for economic growth. Accordingly, AOG 2024 will feature a presentation on Unlocking Liquidity: Invoice Financing Solutions.

AOG 2024 features a multi-track program that offers a comprehensive overview of the country’s oil and gas value chain. To download the program, visit https://apo-opa.co/3AfIe6D. For more information on panel discussions, speakers and topics, visit www.AngolaOilAndGas.com.

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