World
Turkey Joins Africa Finance Corporation With New Equity Investment
By Adedapo Adesanya
Turkey has joined the Africa Finance Corporation (AFC) as its first non-African sovereign shareholder following an equity investment from Turk Eximbank.
AFC, an infrastructure solutions provider, announced that the equity subscription from Turkey’s official export credit agency will advance its mission to be the bridge between Africa and global stakeholders wishing to play a key role in the continent’s development and prosperity.
According to a statement on Friday, Turk Eximbank’s investment in AFC is its first in an African entity and aligns with Turkey’s strategic vision of fostering resilient and sustainable growth in Africa, as outlined in the government’s Africa Partnership Policy, underlining the relevance of AFC to deliver on these aspirations.
“AFC’s unique and proven business model of developing sustainable and impactful projects on the continent with the support of both African public and private sector capital makes it a reliable long-term partner for successfully expanding Türkiye’s considerable development agenda on the continent.
“Turkey has been a steadfast ally in Africa’s development journey, evidenced by its position as a strategic partner of the African Union and its strong advocacy for Pan-Africanism,” the statement said.
The country has played a crucial role in catalysing both public and private investment in growth-enhancing sectors across the continent.
Turkey is one of the leading development and commercial partners for Africa, with trade increasing to $40.7 billion in 2022, from $5.4 billion in 2003.
Speaking on the development, Mrs Samaila Zubairu, President & CEO of AFC said “We are delighted to welcome Turk Eximbank as the first non-regional sovereign shareholder of AFC. This investment not only validates our efforts in addressing Africa’s infrastructure challenges but also underscores Turkey’s commitment to fostering south-south cooperation.
“As a testament to the increasing global interest in AFC’s mission, this prestigious endorsement from a non-African entity of such calibre amplifies our dedication to advancing Africa’s development. Through this partnership, we aim to continue building the infrastructure that will foster industrialization, value capture and retention in Africa as well as create quality jobs for Africa’s growing population.
“We eagerly anticipate further collaborations with Türkiye, a nation that demonstrates a profound dedication to supporting Africa’s growth and prosperity in multiple critical sectors.”
On his part, Mr Ali Güney, CEO of Turk Eximbank, commented: “We take great pleasure in announcing our strategic partnership with Africa Finance Corporation. This noteworthy investment exemplifies our dedication to facilitating substantial collaborations that will provide crucial support to Turkish exporters and construction companies, thus catalysing sustainable economic growth and development within both regions, a collaboration that signifies a profound commitment to fostering synergies between Türkiye and Africa.
“We aim to contribute actively to the strategic initiatives of the AFC and our commitment extends beyond mere participation, as we strive to fortify the economic bonds between Türkiye and the AFC member states, transcending geographical boundaries and nurturing a relationship that is harmonious, equitable, and mutually enriching.
The investment extends AFC’s already existing strong partnerships in Turkey with leading engineering, procurement, and construction (EPC) firms for the financing and development of transformational infrastructure projects in Africa.
These include the 300 MW Combined Cycle Gas (CCG) plant in Senegal, developed by Calik Enerji, and the development and construction of an 80MW peat-fired Independent Power Project (IPP) in Rwanda by Hakan Madencilik A.S. Most recently, AFC exited its 35 per cent equity stake in Ghana’s Takoradi port to Turkey’s Yilport Holdings, one of the world’s leading port operators.
AFC is also in ongoing discussions with the Foreign Economic Relations Board of Turkey (DEİK) and the Turkish Contractors Association, further cementing its commitment to unlock new business opportunities and enhance bilateral trade and cooperation between the country and Africa.
World
Africa Takes Centre Stage as Addis Ababa Hosts the World Public Summit
By Kestér Kenn Klomegâh
For the first time in its history, the World Public Summit will be held on the African continent. On 29–30 July 2026, Addis Ababa, the capital of Ethiopia, will host the World Public Summit. Africa — “A New World: Africa in Shaping a Shared Future.”
The Summit is organised by the World Peoples Assembly in cooperation with African partner organisations. It will bring together leaders of public diplomacy, representatives of international intergovernmental and non-governmental organisations, academics, experts, representatives of the education and cultural sectors, youth leaders, socially responsible businesses, media professionals, and civil society institutions from across Africa and other regions of the world.
The World Public Summit. Africa continues the work initiated during the First World Public Assembly “A New World of Conscious Unity,” held in Moscow in September 2025, and serves as one of the key milestones in preparation for the Second World Public Assembly “A New World: Values That Unite,” which will take place in Moscow on 18–19 September 2026.
Today, Africa is emerging as one of the principal centres of global development. Rapid demographic growth, expanding entrepreneurship, strengthening regional integration, rich cultural heritage, and the growing role of civil society institutions make the continent an increasingly important contributor to the future architecture of international cooperation.
The Summit will focus on issues of genuine sovereignty and sustainable development, public diplomacy, preservation of cultural and historical heritage, international cooperation in education and science, youth engagement, innovation-driven development, creative industries, and the formation of new partnerships among countries and peoples.
The main business programme of the Summit will take place on 30 July 2026 at the headquarters of the United Nations Economic Commission for Africa (UNECA) in Addis Ababa. Holding the Summit at UNECA highlights its pan-African dimension and creates opportunities for broad international dialogue on humanitarian cooperation and public diplomacy.
The programme will include plenary sessions, strategic dialogues, and expert panels dedicated to values-based development, education, culture, youth leadership, innovation, and international cooperation.
Participation has already been confirmed by Professor Saidou Madougou, Director of the Department of Education, Science, Technology and Innovation of the African Union; Rita Bissoonauth, Director of the UNESCO Liaison Office to the African Union and UNECA in Addis Ababa; Zuzana Schwidrowski, Director of the Macroeconomics, Finance and Governance Division of UNECA, as well as ministers, leaders of public organisations, and representatives of the business community from a number of African countries.
On the same day, the ADWA Victory Memorial Museum—Ethiopia’s national memorial complex dedicated to the Victory of Adwa and an important centre for preserving the historical memory of the Ethiopian people—will host the award ceremony of the regional stage of the V International Competition “Leader of Public Diplomacy”, followed by a large-scale cultural programme.
One of the key outcomes of the Summit will be the adoption of the African Communiqué, reflecting proposals and recommendations aimed at strengthening humanitarian, educational, cultural, and public cooperation between African countries and other regions of the world.
The outcomes, initiatives, and recommendations were developed during the World Public Summit. Africa will be presented at the Second World Public Assembly “A New World: Values That Unite”, to be held in Moscow on 18–19 September 2026.
According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Addis Ababa Summit is an important step toward building a new world founded on mutual respect, cultural diversity, dialogue and sustainable development.”
World
UK Set for Seventh Prime Minister in 10 Years as Keir Starmer Resigns
By Adedapo Adesanya
The United Kingdom will get its seventh Prime Minister in 10 years as Mr Keir Starmer announced his resignation on Monday.
The Minister said he is stepping down as leader of the governing Labour Party and will leave office within weeks, scarcely two years after being elected in a landslide.
Mr Starmer says he will remain caretaker prime minister until a new Labour leader is chosen by the party.
Mr Starmer made the announcement after facing growing pressure to hand over to a new leader who can try to revive the government’s flagging fortunes.
He led Labour to a landslide election victory in July 2024, but since then, his popularity and that of the party have plummeted.
His departure was triggered by the victory of Mr Andy Burnham in a special election last week. The popular ex-mayor of Greater Manchester planned to challenge the existing PM for the Labour leadership.
Mr Starmer made the announcement outside the prime minister’s 10 Downing St. residence with a brief statement on Monday.
“The question my party is asking now is whether I am best placed to lead us into the next general election,” Mr Starmer said. “I have heard the answer of my parliamentary party to that question, and I accept that answer with good grace.
Mr Starmer is the sixth prime minister in a decade to stand outside 10 Downing Street and announce a premature departure.
It comes the day before Britain marks the 10th anniversary of its vote to leave the European Union, a decision that still affects the country’s economy and politics.
Over the past decade, 10 Downing Street has had six occupants, including Mr David Cameron, who left office in 2016 after the Brexit referendum and was succeeded by Ms Theresa May. She was followed by Mr Boris Johnson, whose tenure covered Brexit and the COVID-19 pandemic. After Mr Johnson came Ms Liz Truss, whose 49-day premiership was the shortest in British history. Mr Rishi Sunak then took office before being succeeded by Mr Starmer, the outgoing occupant of Number 10.
World
AXIAN Energy Secures $60m for Expansion Across Africa
By Aduragbemi Omiyale
A financing facility of up to $60 million has been secured by AXIAN Energy, the energy division of the AXIAN Group.
The funding package was provided by MCB, one of the leading financial institutions in the Indian Ocean region.
It comprises a $40 million revolving credit facility with a three-year tenor and extension option, and $20 million in unfunded instruments, providing AXIAN Energy with enhanced financial flexibility, enabling the company to rapidly mobilise resources and seize development opportunities across its target markets.
The energy firm is expected to use the capital to deliver large-scale energy infrastructure projects across Africa.
Over the past two years, AXIAN Energy has significantly accelerated its growth by expanding its renewable energy project pipeline, with solar projects currently under development in Senegal, Benin, Zambia, Côte d’Ivoire, Madagascar, and Burkina Faso.
Building on this momentum, AXIAN Energy now operates a portfolio comprising 350 MW of installed renewable energy capacity, supported by 77 MWh of energy storage capacity, positioning the AXIAN Group as a major contributor to Africa’s energy transition.
The chief executive of AXIAN Energy, Mr Benjamin Memmi, said, “This transaction marks a key milestone in AXIAN Energy’s growth trajectory. It provides us with the financial capacity to sustain the momentum we have built over the past two years, further strengthening our renewable energy portfolio and expanding our presence across new African markets.”
Also commenting, the Global Head of Structured Finance at MCB, Mr Mathieu Delteil, said, “We are proud to support AXIAN Energy in structuring this facility, reaffirming our commitment to enabling transformative projects across Africa.
“By leveraging our sector expertise and deep understanding of regional markets, we have delivered a tailored financing solution that aligns with AXIAN’s long-term renewable energy ambitions.
“This partnership highlights our role as a strategic financial partner, mobilising capital towards investments that drive sustainable growth and accelerate the energy transition across the continent.”
The financing agreement between the two organisations strengthens their long-standing relationship because it is driven by a shared commitment to supporting infrastructure development and economic growth across Africa.
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