Boko Haram Attacks in Bosso, Niger

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Press Statement

Elizabeth Trudeau
Director, Office of Press Relations

Washington, DC

June 6, 2016

The United States condemns in the strongest terms Boko Haram’s barbaric June 3 attack on a military outpost in Bosso, Niger. We extend our deepest condolences to the families and friends of the 30 Nigerien and two Nigerian soldiers killed in the attack and the 67 individuals who were injured. This latest attack further underscores Boko Haram’s blatant disregard for the people of the Lake Chad Basin area.

The United States stands by our partners in Niger, Nigeria, Chad, and Cameroon and supports their efforts to fight and defeat Boko Haram. International cooperation and a comprehensive approach, highlighted during the May 14 regional heads of state summit in Nigeria, remain vital components of this unified effort to bring lasting peace and security to the region.

Distributed by APO (African Press Organization) on behalf of U.S. Department of State.

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Mohamed Ibn Chambas congratulates Cameroon and Nigeria for their decision to finalize land boundary demarcation

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In his capacity as Chairman of the Cameroon-Nigeria Mixed Commission (CNMC), the Special Representative of the United Nations Secretary-General for West Africa and the Sahel, Mr Mohamed Ibn Chambas, chaired today in Yaoundé the meeting of the Heads of Delegation of Cameroon and Nigeria to the CNMC.

Cameroon, which hosted the meeting was represented by Vice-Prime Minister Amadou Ali while the Nigerian Delegation was represented by the Minister of Justice M.Abubakar Malami SAN.

Spurred on by Mr. Ibn Chambas, both Parties have reviewed the essential issues and have agreed on the need to resolve the outstanding issues through the implementation of a pragmatic roadmap prioritizing the rapid resolution of disagreement areas; the finalization of the land boundary demarcation and the launching of socio-economic projects intended for building confidence among the populations affected by the demarcation; as well as the need to replenish the trust fund to complete the remaining tasks.

“I welcome the positive spirit of the two Heads of Delegations and commend them for their commitment to finalize the demarcation and enhance urgent support to the affected communities, said the Chairman of the CNMC, Mr Ibn Chambas.

On his part, the Head of the Cameroonian Delegation, the Vice-Prime Minister, Mr Amadou Ali, expressed the determination of his government to work with all sides to resolve the outstanding issues and fully implement the ICJ ruling.

In a similar spirit of cooperation, the Minister of Justice Aboubakar Malami SAN, reiterated the commitment of his country to complete the demarcation work on the remaining 100 km and take necessary steps to support address all outstanding challenges.

The meeting of the Heads of Delegation adopted a Final Communique Communique Final and agreed to convene the Parties for the next meeting in November 2016.

The CNMC – In 1994 the Heads of State of Cameroon and Nigeria sought guidance from the United Nations to resolve their border conflict. Consequently, on 10 October 2002 the International Court of Justice (ICJ) issued its Judgment on the claims brought before it, ruling on the demarcation of the entire boundary (land and maritime) between Cameroon and Nigeria – stretching from Lake Chad to the Gulf of Guinea. Both states agreed to respect and implement the ruling and at their request, the United Nations established in November 2002, the Cameroon-Nigeria Mixed Commission (CNMC), which it chairs. The CNMC’s mandate is to; demarcate the land boundary and delimitate the maritime boundary; support the withdrawal of troops and transfer of authority in the Lake Chad area, along the land boundary and Bakassi Peninisula; address the needs of populations affected by demarcation activities; Develop recommendations on confidence-building measures and joint economic ventures aiming at promoting peaceful cross-border cooperation; and support the Lake Chad Bassin Commission.

Distributed by APO (African Press Organization) on behalf of United Nations Office for West Africa (UNOWA).

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Categories: AFRICA

IMF Executive Board Completes Sixth PSI Review for Uganda and Approves One-Year Extension of the Program

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The Executive Board of the International Monetary Fund today completed the sixth review of Uganda’s economic performance under the program supported by the Policy Support Instrument (PSI).1

In completing the review, the Board approved the authorities’ request for a one-year extension of the current PSI arrangement to facilitate policy continuity and allow sufficient time for ongoing structural reforms to progress and also granted a waiver of the nonobservance of the end-December 2015 assessment criteria on the overall deficit of the central government.

The PSI for Uganda was approved by the Executive Board on June 28, 2013 (see Press Release No. 13/78). Uganda’s program under the PSI aims at maintaining macroeconomic stability and alleviating constraints to growth. The program supports the authorities’ objectives on reforms to the monetary policy framework, tax revenue mobilization, public financial management, and financial sector development. It also backs efforts to improve the business environment, including by preparing the economy better for oil production.

Following the Board discussion, Mr. Min Zhu, Deputy Managing Director and Acting Chair, made the following statement:

“Despite external shocks, and amid election-related uncertainty, Uganda’s economy demonstrated resilience, with robust growth, low inflation, and strong international reserves. However, structural reforms have lagged and need to be revitalized to enhance competitiveness, promote economic diversification, and foster sustained and inclusive economic growth.

“Economic policies will remain focused on keeping inflation low and boosting growth. Fiscal priorities include shifting public spending toward infrastructure and poverty-alleviating expenditures, boosting domestic revenue mobilization, and enhancing public investment efficiency. Continued fiscal prudence could facilitate further monetary policy easing, which would help ease tight credit conditions.

“More progress is needed on key structural reforms. Prompt parliamentary approval of the Public Financial Management Act regulations in line with international best practice, decisive action to reconcile and validate the stock of domestic arrears, and finalizing the charter of fiscal responsibility are paramount steps to further improve governance and strengthen the budget process. Final approval of legal amendments to the Bank of Uganda Act will strengthen the central bank’s independence and support the inflation targeting regime.

“Vigilance is needed to ensure continued financial stability. Plans to further strengthen prudential supervision in line with the Basel III guidelines are welcome. Ensuring that regulatory oversight keeps pace with financial innovation will help preserve financial stability. Prioritizing prompt parliamentary approval of the Amendments of the Anti-Money Laundering Amendment Act and the Insurance Act should help Uganda exit from the FATF gray list, further strengthening the investment climate.”

1 The PSI is an instrument of the IMF designed for countries that do not need balance of payments financial support. The PSI helps countries design effective economic programs that, once approved by the IMF’s Executive Board, signal to donors, multilateral development banks, and markets the Fund’s endorsement of a member’s policies (seehttp://www.imf.org/external/np/exr/facts/psi.htm). Details on Uganda’s current PSI are available at www.imf.org/uganda.

Distributed by APO (African Press Organization) on behalf of International Monetary Fund (IMF).

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Categories: AFRICA

Equatorial Guinea Launches 2016 Oil and Gas Licensing Round

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Equatorial Guinea’s Ministry of Mines, Industry and Energy (MMIE) (www.MMIE.gob.gq) today launched the country’s latest oil and gas blocks licensing round, EG Ronda 2016 (www.EGronda2016.com), at the Africa Oil & Power conference. Companies are now able to submit letters of interest to the Ministry, and to view the official map of available blocks.

The MMIE intends to build upon Equatorial Guinea’s strong reputation for exploration success by inviting oil and gas companies with the requisite financial and technical competency to explore its blocks. A total of 114 discoveries have been made in the country to date, with 48 resulting in discoveries. The discovery success rate of 42 percent is double the global average. Equatorial Guinea is pushing ahead to develop energy infrastructure, including storage, petrochemicals and floating LNG, which will support and incentivize further exploration and production.

Minister of Mines, Industry and Energy H.E. Gabriel Mbaga Obiang Lima said: “Our nation is a proven profitable home for global oil and gas companies that explore our waters, and now we look forward to meeting potential explorers at roadshow events worldwide in 2016.”

The EG Ronda 2016 makes available all acreages not currently operated or under direct negotiation. This comprises 37 blocks in total, 32 of them offshore. This includes Block A-12, newly relinquished by Marathon Oil, which has hosted multiple oil discoveries. Also open is the former EG-05 block which was once operated by Glencore plc. EG-05 was then split into four prospective offshore licenses which have never been drilled.

The MMIE will publicize the bidding round at events in London on June 20 during the Africa Assembly; in Singapore September 20-23; in Istanbul during the World Energy Congress October 9-13; and the last event in Houston in November. The bidding concludes November 30.

Find out more about the EG Ronda 2016, including a bidding and events schedule, at www.egronda2016.com. Contact the licensing round team by email at [email protected]

Distributed by APO (African Press Organization) on behalf of Ministry of Mines, Industry and Energy Equatorial Guinea.

Media Inquiries:
Mercedes Eworo Milam
Director General of Hydrocarbons
+240 222 241 068
[email protected]

Oscar Berniko
Director General of Local Content
+240 222 552 371
[email protected]

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Categories: AFRICA

Francophone Africa Shines at DISCOP

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Basic Lead (www.BasicLead.com), organizers of DISCOP AFRICA (www.DiscopAfrica.com), announced today a record participation for the spring edition of its television content industry gathering, which wrapped Thursday in Abidjan, Ivory Coast.

1142 delegates from 534 companies attended a bustling 3-day market, conference, pitching and screening program, including 121 international programming suppliers, 183 independent producers, and 221 content and adaptation rights buyers, all driving French-speaking West Africa’s rapidly growing multi-platform, multiscreen content production and distribution industries.

As DISCOP founder and director Patrick ZUCHOWICKI JUCAUD explains, “This is almost double the number of participants at last year’s event, arriving from 63 countries versus 52 in 2015”. He added, “Francophone Africa is rapidly establishing itself as one of the last remaining potentially lucrative television marketplaces, one that is bound by a common language, the same currency and similar cultural backgrounds, and with local economies expected to grow by an average of six percent between now and 2020”.

DISCOP AFRICA was also marked by the first edition of THE TELEVISION SUMMIT, an initiative launched by Ivory Coast Minister of Communications, Mrs. Affoussiata BAMBA, to discuss strategies to shape and build a sustainable, regulated and self-sufficient content production and distribution environment that could service nearly 300-million strong Francophone Africa.

Ivory Coast Prime Minister Daniel Kablan Duncan, as well as other key Government leaders, regulating bodies, trade associations and senior corporate executives from Senegal, Burkina Faso, Guinea, Gabon, Mali and Togo, took part in THE TELEVISION SUMMIT.

Further highlights included a gala dinner hosted by Ivory Coast’s Ministry of Communications honoring Turkey; a pitching competition featuring TV series, formats, animation, documentary and web projects; a training component designed to help independent producers navigate the contours of content development and funding; numerous presentations and cocktail parties; as well as MEET YOUR STARS, a promotional program raising the level of interest for upcoming television and web shows amongst strategic industry influencers.

Industry sponsors and partners included AFRICAN PRESS ORGANISATION, AFRIKA.COM, AIR IVOIRE, CANAL +, COTE OUEST, DAILYMOTION, FRENCH INSTITUTE IN SOUTH AFRICA, HIT RADIO, MAJESTIC CINEMAS, NFVF, RTI, STUDIO CO2, TRACE, TV5 MONDE, TVFI.

Eight years after hosting its inaugural edition, DISCOP AFRICA has grown into a twice-yearly industry gathering, with a fall edition in Johannesburg, South Africa, slated this year for November 2 to 4.

Distributed by APO (African Press Organization) on behalf of Basic Lead LLC.

Contact:
BASIC LEAD
Los Angeles +1 323.782.1300
Abidjan +225 20 22 5866
Johannesburg +27 11.482.6110
[email protected]

About the organizers
Los Angeles-based BASIC LEAD (www.BasicLead.com) is a B2B trade-show organizer specializing in active, fast-growing sectors across developing world regions. Events under BASIC LEAD management are specifically designed to facilitate sales, brand expansion and increase market share.

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Categories: AFRICA

U.S. Embassy Expands Projects to Address Wildlife Conservation and Trafficking in South Africa

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To advance the U.S. National Strategy for Combating Wildlife Trafficking and its associated implementation plan, the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs (INL), in coordination with U.S. Embassy Pretoria, will support training and other technical assistance in South Africa to increase investigative and law enforcement capacity. INL made $1,350,000 available for projects.

INL seeks to strengthen the capacity of wildlife-related institutions and actors in South Africa across multiple landscapes, but concentrated primarily where there are large populations of rhinoceroses. INL will support building the capacity of South Africa’s civil law enforcement entities and personnel to address, investigate, and support prosecution of illegal wildlife trade within and from South Africa.

INL is seeking applications from qualified organizations and educational institutions for awards to implement a program entitled “Combating Wildlife Trafficking in South Africa.” Eligible organizations interested in submitting an application are encouraged to read this notice of funding opportunity thoroughly to understand the type of project sought and the application submission requirements and evaluation process. This funding opportunity is posted on www.grantsolutions.gov

The deadline for submission of questions is July 1, 2016, 5:00 PM Eastern Standard Time. The closing date and time for submission of applications: August 1, 2016, 5:00 PM Eastern Standard Time via www.grantsolutions.gov

Distributed by APO (African Press Organization) on behalf of U.S. Embassy Pretoria, South Africa.

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Categories: AFRICA

AUC Confirms the Second Batch of participants for China’s “Seed for the Future” programme

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Today the African Union Commission (AUC), in collaboration with the Chinese government and the Huawei global information and communications technology (ICT) solutions provider, confirmed the second batch of ten AUC participants for training under the “Seed for a bright future program”. The Huawei global ICT solutions provider has a standing memorandum of understanding (MOU) with the AU, and one of the activities of the cooperation is the seed for a bright future program.

The African Union Commission Deputy Chairperson, H.E. Mr. Erastus Mwencha, paid tribute to the partners for their relentless efforts towards improving the human capacities of the continent by empowering its citizens in the use of ICT and developing expertise in the production of mobile phones. “I envision African cities to be equipped with technologies and competent human capacities through this program”, he said, further underscoring the significance of the program to improve industrialization, fight against poverty and the realization of Agenda 2063 as a prerequisite for sustainable development within the continent.

The program will impart best practices of work culture and values, where people are focused and determined to reach a specific target within a short period of time. Mr Mwencha appealed to the Chinese government to further invest in the African Leadership Academy which was established at the African Union for the purpose of enriching the continent.

Speaking during the ceremony H.E. Dr. Elham M. Ibrahim, Commissioner for Infrastructure and Energy at the AUC thanked the government of China for signing the MOU and implementing the agreement to build human capacities through ICT, which is a pertinent area today in development.

Mr. Cheng Ning, Counselor of the Cooperation and Exchange Office at the Mission of China to the AU in Addis Ababa, pledged more commitment and support of the Chinese government to the AUC as well as to member states.

“ICT will inspire development across the continent”, Mr. Stones Shi, CEO of Huawei Technologies Ethiopia reckoned. Moreover, he assured the AU that Huawei is willing to share its experience and expertise of ICT with thousands of participants in the future. He thanked the AU for its long term support to the Government of China and for piloting the program.

Distributed by APO (African Press Organization) on behalf of African Union Commission (AUC).

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Categories: AFRICA

AUC Confirms the Second Batch of participants for China’s “Seed for the Future” programme

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Today the African Union Commission (AUC), in collaboration with the Chinese government and the Huawei global information and communications technology (ICT) solutions provider, confirmed the second batch of ten AUC participants for training under the “Seed for a bright future program”. The Huawei global ICT solutions provider has a standing memorandum of understanding (MOU) with the AU, and one of the activities of the cooperation is the seed for a bright future program.

The African Union Commission Deputy Chairperson, H.E. Mr. Erastus Mwencha, paid tribute to the partners for their relentless efforts towards improving the human capacities of the continent by empowering its citizens in the use of ICT and developing expertise in the production of mobile phones. “I envision African cities to be equipped with technologies and competent human capacities through this program”, he said, further underscoring the significance of the program to improve industrialization, fight against poverty and the realization of Agenda 2063 as a prerequisite for sustainable development within the continent.

The program will impart best practices of work culture and values, where people are focused and determined to reach a specific target within a short period of time. Mr Mwencha appealed to the Chinese government to further invest in the African Leadership Academy which was established at the African Union for the purpose of enriching the continent.

Speaking during the ceremony H.E. Dr. Elham M. Ibrahim, Commissioner for Infrastructure and Energy at the AUC thanked the government of China for signing the MOU and implementing the agreement to build human capacities through ICT, which is a pertinent area today in development.

Mr. Cheng Ning, Counselor of the Cooperation and Exchange Office at the Mission of China to the AU in Addis Ababa, pledged more commitment and support of the Chinese government to the AUC as well as to member states.

“ICT will inspire development across the continent”, Mr. Stones Shi, CEO of Huawei Technologies Ethiopia reckoned. Moreover, he assured the AU that Huawei is willing to share its experience and expertise of ICT with thousands of participants in the future. He thanked the AU for its long term support to the Government of China and for piloting the program.

Distributed by APO (African Press Organization) on behalf of African Union Commission (AUC).

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AU extends sincere wishes to Muslims in Africa and around the world as Ramadan begins.

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The Chairperson of the African Union Commission, Dr. Nkosazana Dlamini Zuma, has extended sincere wishes to all Muslims in Africa and around the world as the holy month of Ramadan begins. In her message, the AU Commission Chairperson said, “Ramadan is a time for contemplation, self-reflection and devotion through prayer and fasting.”

The AU Commission Chairperson said that Ramadan is also an opportunity for Muslims around the globe to continue their efforts and commitment to helping through charity the less fortunate, in particular those struggling due to war, famine and economic difficulties.

In her message to Muslims, the AU Commission Chairperson, said that the blessed month of Ramadan every year, “reminds us of our shared responsibility, in our diverse continent, to support each other to create a prosperous, just and peaceful Africa.”

She concluded her message by calling for everyone to use this sacred time as a reminder of our joint responsibility to end the suffering of those experiencing senseless conflicts and violence, in Africa and elsewhere in the globe.

Distributed by APO (African Press Organization) on behalf of African Union Commission (AUC).

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Categories: AFRICA

The partner organizations reaffirm their support to the political dialogue in the Democratic Republic of the Congo and call on all Congolese stakeholders to work towards its successful holding

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The African Union (AU), the United Nations (UN), the European Union (EU) and the International Organization of La Francophonie (IOF) are closely following the situation in the Democratic Republic of the Congo (DRC). The four organizations act under the framework of their partnership for peace and security in Africa, as well as their collective commitment to support the DRC in consolidating the achievements recorded during the last decade.

The four partner organizations underline once again the crucial importance of holding a successful political dialogue with all Congolese stakeholders leading to a consensus that would allow for free, fair, transparent and credible elections to take place in accordance with the framework of the Congolese Constitution, thus preserving peace and stability in the country and deepening the democratic process and the rule of law.

The four organizations reaffirm their full support to the facilitation efforts led by Mr. Edem Kodjo on behalf of the AU. In this context, they have agreed to set up a support group to the facilitation, which also includes representatives of the International Conference of the Great Lakes Region (ICGLR) and the Southern African Development Community (SADC), and to mobilize the expertise and resources needed to maximize chances of achieving a successful dialogue.

The four organizations underline the primary responsibility of the government and all concerned Congolese stakeholders to maintain peace and stability in the DRC, to preserve the hard-won gains and to strengthen democracy and the rule of law. In this regard, they urge all Congolese actors to join the dialogue and extend their full cooperation to the Facilitator, recalling that he is acting within the framework of the relevant bodies of the AU and resolution 2277.

The four organizations urge the Government and all political actors in the DRC to refrain from any action that could increase tensions or lead to violence. More than ever, restraint and the spirit of responsibility are needed at this particular moment of

the history of the DRC. The four partner organizations also call on the government to maintain its commitment to promote and protect human rights and fundamental freedoms guaranteed by the Constitution of the DRC, including by releasing political prisoners; bearing in mind that the preservation of political space and fundamental freedoms enshrined in the Constitution is a necessary condition to the success of the political dialogue, an outcome to which President Kabila has expressed his utmost commitment.

Distributed by APO (African Press Organization) on behalf of United Nations (UN).

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Categories: AFRICA

Paramount Group Unveils New Generation Armoured Vehicle for the Global Defence Market

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Paramount Group (www.ParamountGroup.com), the African-based global defence and aerospace company, unveiled a new generation 8×8 (eight wheeled) armoured vehicle in Astana, during the annual Kazakhstan Defence Exhibition. The technologically superior Mbombe 8 infantry combat vehicle represents the pinnacle of land system innovation; it was designed to meet the world-wide demand for sophisticated and affordable military equipment that provides unrivalled protection for land forces personnel, in an era of unprecedented asymmetrical threats and conflict.

Paramount Group has been responsible for the development and production of a broad range of advanced armoured and mine protected vehicles that are in operation around the world. As such, the Mbombe 8 is at the vanguard of armoured vehicle technologies. It has been designed and developed to meet the increasing demand for multi-role, high mobility, and mine hardened platforms, providing a solution to the ever-changing demands of the global battlefield.

“This is a momentous occasion in the evolution of the Paramount Group’s offering, and we are very excited to develop this high speed, long-range, and low profile 8×8 armoured vehicle,” says Founder and Executive Chairman of Paramount Group, Ivor Ichikowitz. “In less than a decade, Paramount has designed, developed, and industrialised an armoured vehicle nearly every two years. We have built a reputation for pushing the boundaries and pioneering armoured vehicles that are groundbreaking in their design, protection levels, and mobility, without exception.”

Ben Jansen, CEO of Paramount’s armoured vehicle business said: “The Mbombe 8 is world-leading in its class, this is a product that we are very proud of. We pioneered mine-resistant flat floor technology which is central to the design of the new 8×8 platform. The development of Mbombe 8 has enabled Paramount Group to provide potential customers with a complete family of 4 x 4, 6 x 6 and 8 x 8 AFVs which share over 80% of common components to reduce through life costs and make for easier training and logistics. This presents a unique opportunity for the global market, affording a prospective end-user of all three vehicles significant savings in the areas of maintenance and logistical support.”

The Mbombe 8 is based on the design of the Paramount Group’s Mbombe 6 – an infantry combat vehicle that employs an inventive new form of provide unprecedented levels of protection, while keeping its profile to a minimum. The Mbombe 8 also draws on the Paramount Group’s experience of designing the highly effective and battle-tested Marauder and Matador mine-resistant vehicles.

This highly advanced and comprehensive vehicle addresses the threats and operational requirements that are unique to the Commonwealth of Independent States region, and represents the innovation and transfer of technology at the heart of the strategic industrial partnership between Paramount Group and its partners in Kazakhstan Paramount Engineering.

Key features of the Mbombe 8 include:

  • Gross weight of 28 tonnes and kerb weight of 19 tonnes
  • Payload of 9 tonnes
  • Max speed of 110km/h
  • Operating range: 800 km
  • High levels of ballistic and mine protection: ballistic protection: STANAG 4569 Level 3+ and blast protection: STANAG 4569 Level 4a and 4b
  • The cooling systems and driveline have been tested and proven in winter conditions of -55 Celsius and desert conditions of +55 Celsius

The first advanced prototype of the Mbombe 8 will soon start extensive mobility trails, and production will be undertaken in South Africa and Kazakhstan.

“South Africa has been leading the world in armoured vehicle and land mine protected technologies for decades. We have a truly remarkable skills base; we are home to some of the best engineers in the world, who have developed technologies that are used globally to save lives daily,” concluded Ichikowitz.

For further information about Paramount Group visit www.ParamountGroup.com

Distributed by APO (African Press Organization) on behalf of Paramount Group.

FOR MORE INFORMATION, PLEASE CONTACT:

Nico de Klerk
Paramount Group
T: +27 (0) 11 086 6871
E: [email protected]

ABOUT THE PARAMOUNT GROUP:
Paramount Group (www.ParamountGroup.com) is Africa’s largest privately-owned defence and aerospace business. It is a leader in defence and security innovation and is a trusted partner to sovereign governments around the world, providing ground-breaking products, services and consultancy, including support for peacekeeping missions. Please visit www.paramountgroup.com for more information, or follow us on Twitter: @ParamountGroup1

Source:: Paramount Group Unveils New Generation Armoured Vehicle for the Global Defence Market

Categories: AFRICA

London Stock Exchange welcomes ICD, a member of the Islamic Development Bank Group

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London Stock Exchange (www.lseg.com) today welcomes ICD (www.ICD-ps.org), a member of the Islamic Development Bank Group, to open trading on London’s markets and mark the listing of its MTN Programme and inaugural $300 million five year Sukuk on London Stock Exchange.

ICD will use the proceeds of the Sukuk to support investments in private sector projects in line with its mission to promote economic growth in its member countries through private sector development. In 2016, ICD has to date raised $850 million in long term funds or about 70% of its $1.2 billion funding program for the year. The MTN program, which is a Wakala structure, will serve as ICD’s main funding platform for regular issuance of Sukuk. HSBC was the arranger for the MTN Program and the syndicate group for the Sukuk included 13 international and regional banks.

Khaled Al Aboodi, Chief Executive Officer of ICD said: “We are delighted to have listed our MTN Program and Sukuk on the London Stock Exchange. Given LSE and London’s status as the largest international center for debt issuance and trading, this listing gives ICD access to a large and diverse pool of fixed income investors globally and supports the primary market execution and secondary market liquidity of its Sukuk. Aside from marking a key milestone in our funding activity in the international capital market, the Sukuk also supplements our role to promote Islamic finance in member countries. ICD was the lead advisor for Côte d’Ivoire’s debut Sukuk and we are keen to replicate its success in other member countries.

ICD is a multilateral organization and a member of the Islamic Development Bank (IDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments which are in accordance with the principles of Sharia’a. ICD also provides advice to governments and private organizations to encourage the establishment, expansion and modernization of private enterprises. For more information, visit www.ICD-ps.org

More information: http://www.lseg.com/markets-products-and-services/our-markets/london-stock-exchange/equities-markets/raising-equity-finance/market-open-ceremony/welcome-stories/london-stock-exchange-today-welcomes-icd

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

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Categories: AFRICA