The African Development Bank and the African Solidarity Fund (ASF) have signed a letter of intent to strengthen the two institutions’ working relationship and synergy. The partnership was ratified by Aida Ngom, Director of the Private Sector Development Department, on behalf of the African Development Bank Group, and Abdourahmane Diallo, the Fund’s Managing Director, at...
Month: <span>June 2024</span>
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Africa Finance Corporation (AFC) invests in Africa’s largest copper complex in DRC
Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, announced the closing of a US$150 million senior loan with Kamoa Copper to support the expansion of the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo. The loan by AFC, who acted both as lender and arranger, aligns with the Corporation’s commitment to support...
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Cyberattacks on third parties raise risks for SA Financial Services
Over the past few years, there has been an exponential surge of cyberattacks globally. New technologies, a proliferation of threat actors, greater sophistication and innovation skills invested in the cyber-underworld are all converging with the radical expansion of our digital world. This month, Statista forecast that global cybercrime costs would rise by 69.94% between 2023...
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SoftBank Group and Tempus AI partners to launch AI healthcare services
Japanese technology investor SoftBank Group has launched a joint venture with Tempus AI that aims to analyse personal medical data with artificial intelligence (AI) to come up with treatment recommendations, chief executive officer Masayoshi Son told a briefing in Tokyo. This is the latest in a string of AI investments SoftBank has recently announced as...
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Liberty Global acquires a controlling stake in Formula E, all-electric series
Formula E has confirmed that Liberty Global has acquired a controlling stake in the all-electric series. The company will purchase the shares owned by Warner Bros Discovery (WBD), taking its total stake to 65 per cent. “First of all I’d like to offer my thanks to Warner Bros Discovery for the support and guidance they’ve...
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Afreximbank signs two US$80 million for Zimbabwe’s CBZ Bank to supports SMEs
In two deals signed at the recently concluded Afreximbank Annual Meetings, African Export-Import Bank (Afreximbank) is providing a US$60 million line of credit and a US$20 million Afreximbank Trade Facilitation Programme (AFTRAF) facility to CBZ Bank Limited, Zimbabwe’s largest bank. The line of credit facility will strengthen financial intermediaries’ capacity to support SMEs through financing...
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Tiger Woods’s TMRW Sports completes Series A Investment Round, now its worth ‘US$500m’
TMRW Sports, which is focused on building progressive approaches in sports, media, and entertainment, has announced the closure of its Series A investment round. The round was co-led by Dynasty Equity, which recently closed a strategic minority investment in Liverpool FC, and Connect Ventures, which co-led the initial fundraising round for TMRW Sports, and included...
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Businesses in South Africa: It’s time to Harness your Power to create Economic change
A month has already passed since the historic elections held on May 29 but, I am sure everyone would agree, we’re back in limbo already. There can only be one orientation going forward: All hands on deck and ensure that not only are we on the same ship, but we are steering it in the...
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Fundza Literacy Trust delivers Columbia University training to SA youth with Fellowship Program for aspiring writers
The Fundza Literacy Trust announced the continuation of its Fellowship Program for South African youth who are passionate about their writing and content creation. The comprehensive eight-month course has been designed to empower aspiring writers with the skills they need, in order to share their unique stories across four different disciplines: digital storytelling, fictional writing,...
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The National Museums of Kenya and CityBlue Hotels partners to promote tourism
The National Musuems of Kenya (NMK) and CityBlue Hotels (CityBlue) are proud to announce a new partnership to co-promote tourism and culture in Kenya. This alliance marks an exciting opportunity for sponsorship, co-branding, co-marketing and other forms of collaboration. NMK was established by an Act of Parliament, the Museums and Heritage Act 2006, as a...