The European Union (EU) and Expertise France (www.ExpertiseFrance.fr) have announced the launch of the EU4Skills project, a €7.15 million initiative designed to enhance employability and foster economic growth in Libya. This collaborative effort will address critical issues such as aligning education and training with job market needs and boosting digital technology use in economic activities. It further focuses on developing applications related to green and blue economies and improving the performance of banking and financial institutions to facilitate access to financing for SMEs.

“The EU4Skills project represents a supportive step towards implementing the Ministry of Economy and Trade’s strategy for private sector growth in Libya. By addressing the employability challenges, supporting the building of a knowledge economy, developing skills, and achieving sustainable development through supporting green and blue economies, and focusing on technology, the project will create new job opportunities, drive economic diversification, and bridge the gap between education outcomes and the labor market, all of which are priorities for the Ministry of Economy and Trade. We look forward to the positive impact of this collaborative effort and we thank the European Union Delegation and Expertise France for their continued support.” Said H.E. Mohamed Al-Huwaij, Minister of Economy and Trade in Libya.

Tackling critical areas hindering youth employment in Libya, the EU4Skills project, funded by the European Union, co-funded by the French government and implemented by Expertise France, will focus on equipping young Libyans with in-demand technical skills and on strengthening the capacities of key public institutions to adapt effective employability measures and strategies to address the skills mismatch. To achieve this, the project will engage in four key activities:

Strengthen employability governance and mechanisms within the Libyan education system: This will endorse an effective employability strategy and ensure graduates possess skills relevant to the job market.
Boost employability and business opportunities by reinforcing digital transformation: This will equip Libyans with the digital skills increasingly sought after by employers.
Promote skills development in the green and blue economies: This will prepare the workforce for jobs in these growing sectors focused on sustainability.
Enhance the skills and capacities of financial sector actors: This will strengthen the financial ecosystem and drive SME inclusion, fostering job creation.

“EU4Skills is a crucial initiative for Libya’s sustainable economic growth. By addressing employability challenges, promoting digital and green skills and enhancing the financial sector capabilities, this project will empower the private sector, create jobs and drive economic diversification. The programme is an important testimony to the robust partnership between the European Union and Libya. We anticipate significant positive impacts from this collaborative effort” said H.E. Nicola Orlando, Ambassador of the European Union to Libya.

Working hand-in-hand with key Libyan employability stakeholders like the Ministry of Economy and Trade, the Ministry of Higher Education, the Ministry of Vocational Training, the Ministry of Labour, the Ministry of Planning, and private sector employers, EU4Skills will leverage its strategic partnership with the prominent regional educational network, the Mediterranean Universities Union [UNIMED (www.UNI-MED.net)], to conduct sector-related skill assessments, develop job-ready curriculums, organize workshops and job fairs, and support the development of a digital job platform connecting job seekers with employers across Libya.

“Expertise France is proud to continue working with the Libyan government in supporting Libya’s economic development and digitalization. By equipping young Libyans with in-demand technical skills and facilitating collaboration between educational institutions, the public sector, and the private sector, EU4Skills has the potential to address employability challenges and contribute to economic growth in Libya.” Said Mr. Maxime Bost, Programs Director of Expertise France in Libya.

The EU4Skills project signifies the continuation of the EU’s support for a thriving Libyan economy. It follows the achievements of the E-nable (https://E-nable.ly/) project in empowering governance and digitalization and strengthening the green and financial sectors. With the launch of this new project, the focus shifts towards empowering young individuals with the necessary skills to succeed in these high-demand fields, paving the way for a brighter future fueled by innovation and sustainable growth.

Distributed by APO Group on behalf of Expertise France.

Contact:
Sarah Belamin
Communication Officer – Expertise France Economical program in Libya
sarah.belamin@expertisefrance.fr
+218946660453

African Export-Import Bank (Afreximbank or “The Bank”) (www.Afreximbank.com) and Amufert SA announced that they have signed terms for a USD 1.4 Billion facility to support the establishment of a fertilizer plant in Angola.  Afreximbank is arranging the required debt funding in its capacity as Mandated Lead Arranger and is also supporting the equity raise as one of the Financial Advisers through its Advisory and Capital Markets unit. Other strategic sponsors of the transaction are the OPAIA Group and Sonangol Natural Gas (Sonagas).

The fertilizer plant which will be located in Soyo, a mineral-rich part of Angola with easy access to natural gas, energy, water and a commercial port, will serve to boost industrialization, provide increased food security and position Angola as the food basket of the region.

In an ever evolving and often volatile world of trade, local fertilizer production will help mitigate shortages caused by supply chain disruptions and rising prices.  It will also reduce the huge foreign exchange expenditure that Angola is currently incurring from the importation of fertilizers. Additionally, the plant is expected to create approximately 4,700 jobs, 3,500 of which will be during the construction phase and 1,200 jobs when the plant is operational.

While speaking at the signing ceremony, Prof. Benedict Oramah, President and Chairman of the Board of Directors at Afreximbank, said: “As we witness the signing of the terms of the USD1.4 billion Project Finance Facility with Amufert SA, I would like to thank the Government of Angola, in particular, His Excellency Joao Lourenco, President of the Republic of Angola, for the support provided to the Project and his overall desire for resource-based industrialization in Angola.”

He added: “This Project was conceptualized in the wake of the Ukraine crisis which brought about a shortage of grains and fertilizers in Africa, with the attendant implications for food security on the continent. The challenge of depending on traditional supply markets outside the continent for our food security needs was laid bare for all to see. This is why projects like the one we are signing today, should be supported not just in Angola but across the continent. This is exactly why, at Afreximbank, we are fully committed to supporting the fertilizer plant.”

Mr. Agostinho Kapaia, the Chairman of OPAIA Group said: “This project would not have come to life without the invaluable collaboration between the OPAIA Group, Sonangol and the African Export and Import Bank (Afreximbank), to whom we express our sincere gratitude, in the person of His Excellency Professor Oramah. Your strategic and unconditional support has been crucial to the materialization of this project.”

He added: “Partnering with Afreximbank not only facilitates our journey but also reflects trust and a shared vision of a promising future for Africa’s development initiatives.”

Distributed by APO Group on behalf of Afreximbank.

Media Contact:
Vincent Musumba
Manager
Communications and Events (Media Relations)
Email: press@afreximbank.com  

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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$6.1 billion. Its total revenue amounted to US$ 2.6 billion during 2023. 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

African Export-Import Bank’s (Afreximbank) (www.Afreximbank.com) first African Quality Assurance Centre (AQAC), implemented in Ogun State, Nigeria, in partnership with Bureau Veritas (BV) has been awarded the ISO/IEC 17025:2017 accreditation by the South African National Accreditation System (SANAS), one of the key accreditation bodies in Africa responsible for carrying out conformity assessments as mandated under South Africa’s Accreditation for Conformity Assessment, Calibration and Good Laboratory Practice Act (Act 19 of 2006).

ISO/IEC 17025 is the recognised international standard for testing and calibration laboratories and sets out requirements for the competence, impartiality and consistent operation of laboratories, ensuring the accuracy and reliability of testing and calibration results. The standard enhances the credibility of testing and calibration work by laboratories, by fostering trust among clients and regulatory authorities. Compliance with ISO/IEC 17025 demonstrates a laboratory’s commitment to quality, technical proficiency and scientific rigour.

Commenting on the accreditation, Ms. Oluranti Doherty, Managing Director Export Development at Afreximbank said that the accreditation served to validate AQAC’s capabilities and expertise and would provide new opportunities to expand the centre’s reach.

“By aligning its practices with international standards and best practices, AQAC is well-positioned to attract new clients, foster partnerships with industry stakeholders, and contribute to the advancement of quality assurance practices in Africa,” said Ms. Doherty.

“The impact of this accreditation extends beyond the laboratory as it also contributes to the overall advancement of quality assurance practices in Nigeria. By demonstrating compliance with international standards and best practices, AQAC will help in reducing the rejection rates for Nigerian and African exports,” she said, mentioning that the Bank has committed up to US$100 million to support the development of new AQACs across the continent, with projects being considered in Benin, Chad, Gabon, Kenya and Tanzania.

Jean-Michel Perret, Managing Director, Bureau Veritas Nigeria said, “We are incredibly proud to have achieved the ISO 17025 accreditation for the African Quality Assurance Centre. This milestone reflects our steadfast commitment to providing the highest standards of testing and inspection services. It also demonstrates our dedication to supporting Nigeria’s AgroFood industry in meeting international quality benchmarks, thereby facilitating greater access to global markets for ‘Made in Africa’ products.”

The accreditation by SANAS amplifies AQAC’s ability to offer internationally accredited services for food and agri products and paves the way for a more reliable and robust testing environment in Africa.

SANAS is a signatory to the International Accreditation Forum which gives it world-wide recognition as a competent body for carrying out independent evaluation of certification bodies against recognized standards. It is also a signatory to the International Laboratory Accreditation Cooperation Mutual Recognition Arrangements, the African Accreditation Cooperation Mutual Recognition Arrangements and the SADCA Mutual Recognition Arrangements, for specific scopes.

Distributed by APO Group on behalf of Afreximbank.

Afreximbank Media Contact:
Vincent Musumba
Manager
Communication and Events (Media Relations)
Email: press@afreximbank.com

Bureau Veritas Media Contact:
Selin Dincer Cinar
+905 308 61 59 94
Email: selin.dincer-cinar@bureauveritas.com   

Seseselelo Matlapeng
+27 (0)78 451 5331
Email: seseselelo.matlapeng@bureauveritas.com  

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

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On August 1, Yin Chengwu, Chinese Ambassador to Liberia, met with Rev. J. Luther Tarpeh, National Chairman of the Unity Party, and exchanged views on China-Liberia relations, inter-party exchanges and cooperation, etc.

Yin briefed the spirit of the Third Plenary Session of the 20th CPC Central Committee, stating that the session made systematic arrangements to further deepen reform comprehensively to advance Chinese modernization, which will not only vigorously push forward the building of a great country and realize national rejuvenation, but also bring greater opportunities for China’s cooperation and development with other countries around the world. With the Forum on China-Africa Cooperation (FOCAC) Summit to be held in Beijing in September, China is willing to join hands with the Liberian side to push forward the relations between the two parties and the two countries.

Chairman Tarpeh applauded China’s development achievements and Liberia-China relations, and expressed the Unity Party’s willingness to expand cooperation with the Chinese side and promote inter-party exchanges and Liberia-China friendship and cooperation.

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