London – ICIEC was honoured with the “Insurance Adviser of the Year – Africa” Award at the prestigious IJInvestor Awards 2024. This honour, according to the citation, highlights ICIEC’s role in advancing impactful funding and risk management initiatives that drive sustainable development and improve lives across Africa.

The award acknowledges ICIEC’s pivotal contributions to two transformative projects. In Côte d’Ivoire, ICIEC partnered with AfDB to provide EUR194 mn in insurance support for financing ESG projects. The facility will fund initiatives in renewable energy, education, pollution control, biodiversity conservation, health infrastructure, and sustainable water management, aligning with Côte d’Ivoire’s Sustainable Framework. In Senegal, ICIEC and Standard Chartered signed a EUR103 mn insurance agreement to support the government’s initiative to install 50,000 offgrid solar streetlamps in rural areas. This milestone advances renewable energy adoption, enhancing safety, boosting economic activities, and reducing carbon emissions while improving life quality in rural communities.

Dr. Khalid Khalafalla, CEO of ICIEC, commended ICIEC colleagues and stressed: “This award underscores ICIEC’s commitment to enabling development that transforms lives and builds resilience in our member states. We reaffirm our dedication to advancing sustainable growth and achieving the UN Sustainable Development Goals by facilitating innovative and impactful projects, and this milestone reflects ICIEC’s leadership in leveraging Shariah-compliant insurance to catalyze development and empower member states to create lasting positive change.”