About Africa and Southeast Asia
3 Feb 2025
Valency International Launches One of the World’s Largest Cashew Processing Plants in Côte d'Ivoire
Valency International, a prominent Singapore-based agribusiness company, has officially inaugurated one of the largest cashew processing plants globally in Abidjan, Côte d'Ivoire. The state-of-the-art facility, designed with an annual capacity of 45,000 metric tonnes, was made possible through a USD 40 million investment, co-funded with debt financing from Norfund and Finnfund.
![Valency International Launches One of the World’s Largest Cashew Processing Plants in Côte d'Ivoire](https://static.wixstatic.com/media/cf8654_00becbe6a32c4954a3c9d27f9c1126dd~mv2.jpeg/v1/fill/w_292,h_162,al_c,q_80,usm_0.66_1.00_0.01,enc_avif,quality_auto/Image-empty-state.jpeg)
13 Jan 2025
Indonesian Energy Player Medco Aims To Keep Expanding Copy
With an 11-fold leap in profit to $531 million from $47 million last year, PT Medco Energi Internasional Tbk is strategically expanding its footprint, positioning itself as a key player in providing both reliable and diverse energy solutions. A $40-billion Tanzania LNG project with partners such as Shell, Equinor, and Pavilion Energy could soon be moving forward, with the final investment decision to be reached this year. Additionally, Medco is partnering with the Salim group to open a planned 600MW solar plant project in 2028, which will export electricity to Singapore.
![Indonesian Energy Player Medco Aims To Keep Expanding Copy](https://static.wixstatic.com/media/cf8654_6bffcfae19b741a6a5c2848a09f4fbb9~mv2.webp/v1/fill/w_292,h_162,al_c,q_80,usm_0.66_1.00_0.01,enc_avif,quality_auto/Image-empty-state.webp)
19 Jul 2024
Singaporean trade mission in Ghana on carbon credit cooperation
A Singaporean trade mission comprising 22 members is currently in Ghana to engage with potential project developers following the recent signing of an Implementation Agreement (IA) on carbon credits cooperation aligned with Article 6 of the Paris Agreement. Led by Mr. Alvin Tan, Minister of State for Trade and Industry of Singapore, the mission aims to deepen understanding of Ghana’s business landscape, foster connections between Singaporean and Ghanaian businesses, and catalyze solutions in the growing carbon market.
![Singaporean trade mission in Ghana on carbon credit cooperation](https://static.wixstatic.com/media/cf8654_147dbbcf168a4849a1274609729042a4~mv2.png/v1/fill/w_292,h_162,al_c,q_85,usm_0.66_1.00_0.01,enc_avif,quality_auto/Image-empty-state.png)
10 Jul 2024
South Korea steps up engagement with Africa
South Korea is intensifying its economic ties with Africa through various initiatives. At the inaugural Korea-Africa Summit, South Korea committed to increasing official development assistance to $10 billion by 2030 and pledged $14 billion in export financing. The summit resulted in agreements across sectors like energy, minerals, and infrastructure, with over 25 African heads of state in attendance. South Korea aims to secure critical minerals for technologies like electric vehicles, and is involved in agriculture, digital technology projects, and infrastructure developments across the continent.
![South Korea steps up engagement with Africa](https://static.wixstatic.com/media/cf8654_a543efc75ba64ed68dc2cb0fb9f2a9aa~mv2.jpg/v1/fill/w_292,h_162,al_c,q_80,usm_0.66_1.00_0.01,enc_avif,quality_auto/Image-empty-state.jpg)
25 Jun 2024
Congo Signs Amended Oil Contract with China's Wing Wah to Boost Production Copy
The Congolese Ministry of Hydrocarbons signed an amended Production Sharing Contract with China's Wing Wah Oil Company for the Banga Kayo oil block. This partnership aims to boost oil production to 80,000 barrels per day by late 2025 and initiate gas production in August 2024. Wing Wah, an affiliate of Southernpec, holds 85% of Banga Kayo, while SNPC holds 15%. The agreement highlights strong Africa-Asia energy cooperation and supports Congo's economic growth and energy security.
![Congo Signs Amended Oil Contract with China's Wing Wah to Boost Production Copy](https://static.wixstatic.com/media/cf8654_fc128e24e9864692a52ac3853bc57b1f~mv2.jpg/v1/fill/w_292,h_162,al_c,q_80,usm_0.66_1.00_0.01,enc_avif,quality_auto/Image-empty-state.jpg)
12 Jun 2024
Tolaram to buy majority stake in Guinness Nigeria
Tolaram, headquartered in Singapore, is acquiring Diageo's 58.02% stake in Guinness Nigeria for N81.60 per share. This strategic move combines Tolaram’s local manufacturing and distribution expertise with Diageo’s global brand-building prowess. The acquisition underscores the strengthening economic ties between Africa and Singapore, highlighting the potential for international partnerships to foster local innovation and development. This collaboration is expected to significantly boost the Nigerian market and enhance Tolaram's presence in Africa.
![Tolaram to buy majority stake in Guinness Nigeria](https://static.wixstatic.com/media/cf8654_c44a015548bd4de1a78ad216e6925b1b~mv2.jpg/v1/fill/w_292,h_162,al_c,q_80,usm_0.66_1.00_0.01,enc_avif,quality_auto/Image-empty-state.jpg)
6 Jun 2024
Ethiopia and Singapore Strengthen Ties with Historic Visit and New Agreements
From June 4-6, 2024, Singapore hosted Ethiopian Prime Minister Dr. Abiy Ahmed Ali, marking the 55th anniversary of diplomatic ties. The visit included high-level meetings, sharings by President Tharman, Prime Minister Wong and Prime Minister Abiy, and the signing of agreements to enhance cooperation in air connectivity, transport, and digitalization. Both nations celebrated their shared multicultural values and committed to strengthening economic and diplomatic relations, positioning themselves as gateways between Southeast Asia and Africa.
![Ethiopia and Singapore Strengthen Ties with Historic Visit and New Agreements](https://static.wixstatic.com/media/cf8654_e84e92e57d774169849cf0496c42f274~mv2.jpg/v1/fill/w_292,h_162,al_c,q_80,usm_0.66_1.00_0.01,enc_avif,quality_auto/Image-empty-state.jpg)
11 Apr 2024
Japanese private sector gains ground in Africa but caution still reigns
Global powers are increasingly holding summits with Africa, recognizing its economic potential and resource wealth. Japan pioneered this approach with the Tokyo International Conference on African Development (TICAD) in 1993, inspiring similar summits.
“Japan has an ageing population but is cash rich. African countries are often young, fast-growing economies, but lack capital. In that regard, it is without doubt a great partnership,” Emma Ruiters, a senior analyst at the Tony Blair Institut, notes.
![Japanese private sector gains ground in Africa but caution still reigns](https://static.wixstatic.com/media/cf8654_b2aa254745644fae867cff2ef0c02eb7~mv2.webp/v1/fill/w_292,h_162,al_c,q_80,usm_0.66_1.00_0.01,enc_avif,quality_auto/Image-empty-state.webp)