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In Johannesburg, the company's new office in Sandton, was officially inaugurated. The event was attended by local employees and the regional leadership from South Africa, Zambia, and Namibia. This relocation places Bureau Veritas (www.BureauVeritas.com) at the centre of Southern Africa's financial and commercial hub. Following the inauguration, the Bureau Veritas team conducted visits to oil & gas and energy clients in neighbouring Maputo, Mozambique, bringing together key stakeholders and partners, reinforcing Bureau Veritas as the preferred partner in Testing, Inspection and Certification (TIC) sector in the region. 

It comes as Bureau Veritas Mozambique recently celebrated its 15th anniversary, with celebrations taking place in their new offices in Maputo. 

Khurram Majeed EVP Middle East, Caspian and Africa said“As part of Bureau Veritas' LEAP | 28 Strategy, Southern Africa has been identified as a key region for the company's growth on the African continent. I was pleased to visit the teams here and see the strength and commitment across the region. Their passion and expertise show that we are driving real impact for our clients." 

Speaking on the regional head office move, Area Chief Executive for Southern Africa Gavin Hefer added, "Moving into the heart of Sandton puts us at the centre of the region's commercial and innovation ecosystem. We are closer to our clients, partners, and key stakeholders – and better positioned to serve them. We are excited about our prospects in Southern Africa and there is a lot of energy within our teams to continue driving value to our clients.” 

Bureau Veritas' in Southern Africa 

Bureau Veritas has been operating in Southern Africa since for over two decades leveraging its global expertise to support industry-specific needs across the region. With presence in South Africa, Zambia, Mozambique, Zimbabwe and Namibia, Bureau Veritas delivers testing, inspection and certification services to ensure safety, compliance and quality across the region to both the public and private sectors. 

Distributed by APO Group on behalf of Bureau Veritas.

MEDIA CONTACTS:  
Mellony RAMALHO 
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mellony.ramalho@bureauveritas.com   

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Prince.cekeshe@bureauveritas.com  

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About Bureau Veritas: 
Bureau Veritas is a world leader in inspection, certification, and laboratory testing services with a powerful purpose: to shape a world of trust by ensuring responsible progress. With a vision to be the preferred partner for its customers' excellence and sustainability, the company innovates to help them navigate change. 

Created in 1828, Bureau Veritas' 83,000 employees deliver services in 140 countries. The company's technical experts support customers to address challenges in quality, health and safety, environmental protection, and sustainability. 

Bureau Veritas is listed on Euronext Paris and belongs to the CAC 40 ESG, CAC Next 20, SBF 120 indices and is part of the CAC SBT 1.5° index. Compartment A, ISIN code FR 0006174348, stock symbol: BVI 

For more information, visit www.BureauVeritas.com

The head office for Bureau Veritas Southern Africa is based in Sandton, Johannesburg – South Africa For more information, visit. www.BureauVeritas.co.za

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The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org/) has reinforced its leadership in Islamic finance by engaging with key stakeholders in a series of high-level bilateral meetings during the 2025 IsDB Group Annual Meetings in Algiers, Algeria. These strategic engagements underscore IsDBI's commitment to fostering collaboration, innovation, and sustainable development across its Member Countries.

Led by Dr. Sami Al-Suwailem, Acting Director General, the IsDBI team included Mr. Mohammad Khalid Jawahir, Senior Islamic Finance Specialist; Dr. Hylmun Izhar, Senior Research Economist; and Dr. Wejdan Kenali, Senior Editor. The IsDBI's agenda focused on advancing partnerships, capacity development, and knowledge-driven solutions in Islamic finance.

Strengthening Global Partnerships

Key engagements included a meeting with the Securities Commission Malaysia, represented by Mrs. Sharifatul Hanizah, Executive Director, Islamic Capital Market and Mr. Hamzil Mohamadan, Head ICM Strategic Affairs, to explore collaboration in Sukuk, Awqaf, and sustainability initiatives.

Discussions with Islamic Financial Services Board (IFSB) officials, Dr. Ghiath Shabsigh, Secretary General and Dr. Abdullah Haron, Deputy Secretary General, centered on Islamic finance laws and regulations and leveraging artificial intelligence to enhance financial infrastructure.

The IsDBI team also met with Atlantic Group, a leading pan-African conglomerate, led by Mr. Léon Konan Koffi, Chairman of the Board, focusing on the development of internal Shariah-compliant financial capabilities to support the Group's expansion.

A session with the Eurasian Development Bank, represented by Mr. Ruslan Dalenov, Deputy Chairman of the Management Board, addressed the introduction of Shariah-compliant financial instruments in Central Asia, promoting financial inclusion and economic diversification.

Advancing Social Finance and Capacity Building

The IsDBI also met with IFAAS CEO and founder, Mr. Farrukh Raza where discussions centered on capacity building programs and the applications of Islamic finance principles.

A meeting with Mr. Zeinoul Abedien Cajee, Deputy Secretary General of the World Zakat and Waqf Forum, and CEO of Awqaaf South Africa, stressed on the importance of Islamic social finance and innovative technologies, such as blockchain, to enhance waqf management.

Engagement with Mr. Abdou Karim Diaw, National Coordinator of Senegal's PROMISE program, focused on capacity-building initiatives in Islamic microfinance to drive financial inclusion in underserved communities.

Promoting Innovation and Knowledge Sharing

The delegation from Bank Negara Malaysia, led by Ms. Nurul Izza Idris, Director of the Islamic Finance Department, exchanged insights on capacity building, digital payment innovation, and enhanced cooperation with Central Asian Member Countries.

A meeting with the Participation Banks Association of Türkiye (TKBB), represented by Ms. Fatma Çınar, Deputy Secretary General of TKBB and Mr. Ömer Karakuş from the Katılım Finans Kefalet (Islamic Credit Guarantee Fund), included discussions on Türkiye's experiences in credit guarantees, digital transformation, and sustainability reporting, with an emphasis on knowledge sharing.

Supporting Regulatory Development and Strategic Planning

Engagements with H.E. Sheku A. Fantamadi Bangura, Minister of Finance and IsDB Governor for Sierra Leone, and H.E. Hassan Miras, Deputy Minister of Finance and Acting IsDB Governor for the Republic of Maldives, focused on developing national Islamic finance strategies, regulatory frameworks, and capacity-building programs.

Meetings with Dr. Mohamed Abouzain, General Manager of Algeria's National Office of Awqaf and Zakat, and Dr. Ahmed Lamine Athié, Director General of Senegal's Haute Autorité du Waqf (HAW), addressed long-term strategic planning and public awareness for waqf management.

Fostering Innovation for Economic Growth

A session with Mr. Adam Roble, Managing Director of the Somali Development and Reconstruction Bank, explored innovative Islamic finance instruments to support agriculture and SMEs, including risk-sharing solutions and e-commerce integration.

“These strategic meetings reflect IsDBI's unwavering commitment to knowledge-based development, financial inclusion, and the use of Islamic finance as a driver of sustainable economic progress across the Member Countries and Muslim communities worldwide,” said Dr. Sami Al-Suwailem, Acting Director General of IsDBI.

The IsDB Institute remains dedicated to building robust partnerships and advancing the Islamic finance ecosystem for the benefit of all its Member Countries.

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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About the Islamic Development Bank Institute:
The Islamic Development Bank Institute (IsDBI) is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide. The IsDB Institute enables economic development through pioneering research, human capital development, knowledge creation, dissemination, and management. The Institute leads initiatives to enable Islamic finance ecosystems, ultimately helping Member Countries achieve their development objectives. More information about the IsDB Institute is available on https://IsDBInstitute.org/

Sidi Ould Tah of Mauritania was today elected President of the African Development Bank Group (www.AfDB.org) at the Bank's Annual Meetings held in Abidjan, Côte d'Ivoire.  

Tah was elected by the Bank's Board of Governors, comprising Finance and Economy Ministers or Central Bank Governors of the Bank Group's 81 regional and non-regional member countries. The board is the highest decision-making authority for the Bank Group. 

The results were announced by Nialé Kaba, Minister of Planning and Development for Côte d'Ivoire, and Chairman of the Board of Governors of the Bank Group. 

Addressing the Bank Group's governors (https://apo-opa.co/4jtxMcx) and the media shortly after the announcement, Tah said, “Let's go to work now, I'm ready!” 

The winning candidate is required to obtain at least 50.01% of both the regional and non-regional votes (https://apo-opa.co/4kgzBLc). 

Tah brings over 35 years of experience in African and international finance. He  served as president of the Arab Bank for Economic Development in Africa (BADEA) for 10 years from 2015, where he led a full transformation that quadrupled the Bank's balance sheet, secured a AAA rating, and positioned it among the top-rated development banks focused on Africa.  

A former Minister of Economic Affairs and Finance of Mauritania, Tah has held senior roles in multilateral institutions and has led crisis response, financial reform, and innovative resource mobilization for Africa. 

The Board of Governors Steering Committee received and approved a total of five candidates by the closing date of 31 January 2025. The list of candidates was officially announced on 21 February 2025. 

The other candidates in the election were: 

• Amadou Hott (Senegal) 
• Samuel Maimbo (Zambia) 
• Mahamat Abbas Tolli (Chad)  
• Bajabulile Swazi Tshabalala (South Africa) 

Tah will assume office on 1 September 2025, for a five-year term, following the end of the second mandate of current President, Dr. Akinwumi Adesina. 

The African Development Bank's past heads since its inception in 1964 are: 

• Mamoun Beheiry (Sudan), 1964-1970 
• Abdelwahab Labidi (Tunisia), 1970-1976 
• Kwame Donkor Fordwor (Ghana), 1976-1980 
• Willa Mung'Omba (Zambia), 1980-1985 
• Babacar N'diaye (Senegal), 1985-1995 
• Omar Kabbaj (Morocco), 1995-2005 
• Donald Kaberuka (Rwanda), 2005-2015 
• Dr. Akinwumi Adesina (Nigeria), 2015-2025. 

The election (https://apo-opa.co/43CwLJg) of a new president comes at a crucial time in the Bank Group's six decades of existence. Africa has remained resilient despite climate shocks, economic disruption, and a shifting geopolitical landscape, but needs to move faster or risk falling behind on delivering on the African Union's Agenda 2063 and the Sustainable Development Goals, summed up in the Bank Group's High 5's. 

The 2025 Annual Meetings of the African Development Bank Group are taking place from May 26 to 30 in Abidjan, Côte d'Ivoire under the theme “Making Africa's Capital Work Better for Africa's Development.”  

The African Development Bank Group comprises three entities: the African Development Bank, the African Development Fund and the Nigeria Trust Fund. Its shareholder countries include 54 African countries or regional member countries, and 27 non-African countries or non-regional member countries. 

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Contact: 
Solomon Mugera
Director, Communication and External Relations Department
media@afdb.org

About the African Development Bank Group:
The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

Africa's economy is projected to increase from 3.3 percent growth in 2024 to 3.9 percent in 2025, reaching 4 percent in 2026, despite mounting geopolitical uncertainties and trade tensions, the African Development Bank Group (www.AfDB.org) said Tuesday in its flagship 2025 African Economic Outlook report. 

Despite the prevailing domestic and external challenges  Africa continues to demonstrate notable resilience. The report, titled “Making Africa's Capital Work Better for Africa's Development,” was released during the Bank Group's 2025 Annual Meetings, taking place in Abidjan, Côte d'Ivoire. It demonstrates the continent's capacity to weather multiple shocks while identifying pathways to unlock a vast potential for transformation.  

Strong growth outlook despite global headwinds 

The report presents encouraging projections despite significant challenges: 

• 21 African countries will achieve growth exceeding 5 percent in 2025, with four countries—Ethiopia, Niger, Rwanda, and Senegal—potentially reaching the critical 7 percent threshold required for poverty reduction and inclusive growth. 
• Africa's projected growth rates will surpass the global average and outpace most other regions except emerging and developing Asia. 
• Africa's continued resilience is built on effective domestic reforms and improved macroeconomic management. 

Mixed growth performance across Africa's regions 

Growth prospects vary significantly across regions: East Africa leads with a projected 5.9 percent growth in 2025-2026, driven by resilience in Ethiopia, Rwanda, and Tanzania. West Africa maintains solid 4.3 percent growth, driven by new oil and gas production coming onstream in Senegal and Niger. In the face of persistent headwinds, North Africa is expected to register 3.6 percent growth in 2025. In Central Africa, growth is projected to slow to 3.2% and Southern Africa will grow at only 2.2 percent, with its largest economy, South Africa, expected to achieve only 0.8 percent growth 

Significant challenges persist. Fifteen countries are experiencing double-digit inflation, while interest payments now consume 27.5 percent of government revenue across Africa, up from 19 percent in 2019. 

“Africa must now face the challenge and look inwards to mobilizing the resources needed to finance its own development in the years ahead,” said Prof. Kevin Chika Urama, Chief Economist and Vice President of the African Development Bank Group, presenting the report's findings.  

Massive domestic resource potential remains untapped  

The AEO 2025 estimates that, with the right policies, Africa could mobilize an additional $1.43 trillion in domestic resources from tax and non-tax revenue sources through efficiency gains alone. Africa's extraordinary but underutilized resource base includes: 

• Natural capital: Africa hosts 30 percent of global mineral reserves and could capture over 10 percent of the projected $16 trillion in revenues from key green minerals by 2030 
• Human capital: The continent's median age of 19 represents a demographic dividend that could add $47 billion to Africa's GDP through improved workforce participation 
• Financial capital: Pension fund assets have grown to $1.1 trillion, while formal remittances could reach $500 billion by 2035 if transfer costs are reduced 
• Business capital: Full implementation of the African Continental Free Trade Area could increase exports by $560 billion and boost continental income by $450 billion by 2035 

Urgent action needed to address resource leakages 

The report stresses that massive capital outflows are undermining the continent's development. Compared to $190.7 billion of financial inflows received in 2022, Africa lost approximately $587 billion from financial leakages. Of this, around $90 billion was lost to illicit financial flows, a further $275 billion  siphoned away by multinational corporations shifting profits, and $148 billion lost to corruption. 

Vice President Urama said: "When Africa allocates its own capital (human, natural, fiscal, business and financial) effectively, global capital will follow Africa's capital to accelerate investments in productive sectors in Africa." 

Key policy recommendations 

"There can be no substitute to sound macroeconomic policy management, quality institutions and good governance,  and rule of law." VP Urama said, emphasizing the vital need to bolster governance. 

The report also calls for comprehensive reforms across several critical areas. On fiscal revenue mobilization, it recommends enhancing tax administration through digitalization, broadening national tax bases, and strengthening social contracts with citizens to improve compliance. It advocates making natural capital accounting mandatory and enforcing domestic value retention through beneficiation requirements.  

The AEO also emphasizes the need to deepen financial markets by tapping institutional savings, developing local currency bond markets, and harmonizing regulatory frameworks to facilitate cross-border investment.  

The African Economic Outlook: The 2025 African Economic Outlook provides a comprehensive roadmap for unlocking Africa's transformation potential through better mobilization and utilization of domestic capital resources. 

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Pictures: https://apo-opa.co/43zDmEC
Download the full report:https://apo-opa.co/3Hd5aqK

Media Contact: 
Olufemi Terry
Communication and External Relations Department
Email: media@afdb.org

About the African Development Bank Group:
The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

SmartSwitch Botswana is blazing a trail for financial inclusion with a financial technology (Fintech) solution that puts dignity and financial services into food voucher beneficiaries' hands. Since it was established in 2006, Smart Switch has grown its footprint to more than 75 000 beneficiaries in underserved communities across Botswana.

SmartSwitch Botswana, a subsidiary of Lesaka Technologies, was founded with the exclusive rights to deploy Botswana's Universal Electronic Payment System (UEPS). The UEPS has also been embraced and approved by the central banks of countries such as Namibia, Ghana, and South Africa as an accredited national payment system.

At the heart of the offering is a secure, biometric-enabled smart card platform designed for the unbanked and underbanked. The system enables food grant recipients to safely receive, store, and spend funds at local merchant outlets while earning interest on unspent balances.

The solution was developed in response to a Ministry of Local Government tender to overhaul Botswana's paper-based food basket system. The previous system—marked by inefficiencies, lack of choice, and social stigma—was failing the people it was meant to help.

The tender had two main goals. Firstly, the Ministry of Local Government wanted to empower beneficiaries with choice in the food they acquired, when they could collect their food, and where they could collect their food. The second aim was to provide a dignified alternative to the stigma associated with the earlier system.

“Although we applied cutting-edge technology to the challenge, we also knew we needed to create a deeply human solution to address the audience's needs,” says France Mabiletsa, Managing Director of SmartSwitch Botswana. “We had to provide beneficiaries with choice and restore their dignity.”

Today, those goals have been exceeded. Beneficiaries no longer need to queue in the sun with wheelbarrows to collect pre-packaged goods.

Beneficiaries receive a monthly allowance on a SmartSwitch card, which they can use at over 1,200 local shops, ranging from general dealers to corner stores. Each transaction is authenticated through biometric verification, ensuring security and privacy. The card looks like a bank-issued debit card, so it isn't apparent they are food allowance beneficiaries.

In the first three years after implementation, more than 50,000 people, many of whom had never engaged with a financial institution, were integrated into Botswana's financial ecosystem. Today, over 75,000 beneficiaries have access to these smart banking tools, which include secure, offline-capable transactions via biometric-enabled POS devices

The solution is equally transformative for merchants. Payments are settled within 48 hours, improving liquidity. Competition among stores has improved service quality, benefiting end users. “The system has helped our business grow. We serve more customers, and we get paid quickly and securely,” said Kennete Mmusinyane of Obed Supermarket in Gumare in the Okavango District.

With a track record of reliable delivery and innovation, SmartSwitch is gearing up for the next phase of its development. As the government prepares to issue a new tender, SmartSwitch has plans to introduce enhanced services and upgraded devices to further support beneficiaries and retailers.

“We're not standing still. We're reinvesting in the system to do more for more people,” says Mabiletsa. “It is our aim to continue to be a trusted partner to the government, a reliable ally to merchants, and a gateway to dignity, choice, and empowerment for thousands of people in Botswana.” SmartSwitch is a member of Lesaka Technologies (https://LesakaTech.com/). 

Distributed by APO Group on behalf of Kazang.

About Kazang:
Kazang (http://www.Kazang.com/) is a leading provider of cash and digital solutions to merchants in Southern Africa's informal economies. Our fintech solutions include a diverse range of value-added services (VAS), card acquiring, secure cash vaults and supplier payments platforms. Operating with a network of approximately 90,000 active devices, we process approximately 2.2 million transactions daily in markets such as South Africa, Namibia, Botswana, and Zambia.

We are dedicated to helping small and medium merchants grow and succeed, through increasing their sales, making their businesses more efficient and reducing their risks with our holistic portfolio of products and services. Kazang is a member of Lesaka Technologies (www.LesakaTech.com/). 

About Lesaka Technologies, Inc:
The Connect Group and Kazang was acquired by Lesaka Technologies, Inc. in April 2022. Lesaka Technologies, (Lesaka™) is a South African Fintech company that utilizes its proprietary banking and payment technologies to deliver superior financial services solutions to merchants (B2B) and consumers (B2C) in Southern Africa. Lesaka's mission is to drive true financial inclusion for both merchant and consumer markets through offering affordable financial services to previously underserved sectors of the economy. Lesaka offers cash management solutions, growth capital, card acquiring, bill payment technologies and value-added services to retail merchants as well as banking, lending, and insurance solutions to consumers across Southern Africa.

Lesaka has a primary listing on NASDAQ (NasdaqGS: LSAK) and a secondary listing on the Johannesburg Stock Exchange (JSE: LSK). Visit www.LesakaTech.com for additional information about Lesaka Technologies (Lesaka ™). $LSK / $LSAK

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African Export-Import Bank's (Afreximbank) (www.Afreximbank.com) Advisory and Capital Markets (ACMA) department has been appointed and mandated as the exclusive financial advisor to raise capital for the US$1.7-billion Suiso Project, a transformative coal-to-fertiliser facility to be developed in Kriel, Mpumalanga Province, in South Africa.

As financial advisor, ACMA's role will involve leveraging its network and expertise to structure and mobilise the capital required for the project's execution.

The Suiso Project, which aims to promote sustainable agriculture, will use cutting-edge fertiliser technology, such as air products gasification, and is expected to enhance the food security situation in the region. Sponsored by a consortium of leading energy and industrial companies committed to sustainable development and economic growth in the region, the project represents a significant investment in South Africa's industrial agriculture sector aimed at reducing dependency on imported fertilisers.

This appointment is a reflection of the increasing recognition of Afreximbank's capacity and commitment to supporting large-scale projects with the potential to drive industrialisation and economic development across Africa.

Suiso was formed recently to focus on the manufacture of ammonia and fertiliser, using a fossil-fuel gasification process. It intends to build a more resilient and sustainable fertiliser and agricultural market across Sub-Saharan Africa with more efficient fertiliser application rates and a reduction in greenhouse gas emissions. Suiso plans to establish a blue ammonia production facility with a capacity of 2,200 tonnes per day (TPD).  This facility will produce approximately 2,600 TPD of Urea, 1,600 TPD of Ammonium Nitrate (TAN), and a low-density Ammonium Nitrate using prilling technology, with any excess ammonia being sold in bulk.

Distributed by APO Group on behalf of Afreximbank.

Media Contact:
Vincent Musumba
Communications and Events Manager (Media Relations)
Email: press@afreximbank.com

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About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank's total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa1), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, "the Group"). The Bank is headquartered in Cairo, Egypt.

For more information, visit: www.Afreximbank.com

SanlamAllianz Re (SAZ Re) (www.SanlamAllianzRe.com), one of Africa's leading reinsurance providers operating across more than 45 countries, successfully hosted SAZRe Synapse 2025: a three-day event that brought together thought leaders, industry experts, and changemakers to explore the forces shaping Africa's future.

Synapse: A Platform for Inspiration, Disruption, and Connection

More than just a conference, SAZRe Synapse 2025 was conceived as a space for bold conversations, strategic collaboration, and new thinking. Over the course of three days in Mauritius, participants engaged with big ideas, challenged traditional models, and connected across industries and borders.

The event unfolded in three key chapters.
On Day One, keynote speaker David Rowan, Founding Editor of WIRED UK, delivered an energising address on how emerging technologies are redefining the business landscape.

Day Two saw a dynamic lineup of speakers, moderated by Ramia Farrage of Forbes Middle East, tackling topics at the heart of Africa's evolution:

• Taimoor Labib, Founding Partner of Affirma Capital, explored the role of sovereign wealth and private capital.
• Manish Bundhun, Chief People Officer, ENL & Rogers,  shared strategies for empowering Africa's workforce.
• Dr. Rawaa Harati, Founder of Kinz Consultancy, offered a geopolitical lens on global power shifts.
• Antoine Bavandi, Global Head of Public Sector of Gallagher Re, addressed climate resilience through public-private partnerships.
• Mohato Makalima, NextGen Leader, Deloitte Africa, spotlighted the rise of artificial intelligence and it's implementation across Africa.
• Rapelang Rabana, Founding Partner of FFWD Innovation, talked about innovation as a driver of transformation.
• Rony Lam, CEO of MCB Capital Markets, discussed mobilising local capital for regional development.

A Night to Celebrate: The Gala Dinner

The event concluded with a black-tie gala dinner at Château Labourdonnais, where guests gathered to celebrate a major milestone in the company's journey, SanlamAllianz Re's recent A- (Excellent) rating from AM Best, the global credit rating agency focused on the insurance industry.

In his address, Ilyes Hassib, CEO of SanlamAllianz Re, reflected on the purpose behind Synapse:

“Synapse was born from a clear ambition to connect minds, spark ideas, and open meaningful conversations about the future of Africa. We created this platform for leaders, experts, and innovators to come together, challenge norms, and prepare for what's next.”

“Tonight, as we celebrate our A- (Excellent) rating from AM Best, we're celebrating more than just recognition. We're celebrating trust, the trust of our partners, the strength of our team, and above all, our belief in Africa's future.”

Rooted in Africa, Connected to the World

Headquartered in Mauritius, SanlamAllianz Re designed Synapse as a catalyst for learning, leadership, and long-term partnerships. By bringing together a diverse and influential network, the event spotlighted both the challenges and opportunities driving Africa's next chapter.

From global expertise to local innovation, SAZRe Synapse 2025 was more than an event, it was a springboard for collaboration, growth, and lasting impact.

Distributed by APO Group on behalf of SanlamAllianz Re.

Press Contact:
Rajesh Dindoyal
Odysseus Public Relations
Email: rajesh@odysseuspr.com
Phone: +230 54223040

Follow SAZRe on Linked-In:
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About SanlamAllianz Re (SAZ Re):
SanlamAllianz Re is a reinsurance company headquartered in Mauritius, backed by its two shareholders: Sanlam Limited (South Africa) and Allianz SE (Germany). SAZ Re delivers comprehensive reinsurance solutions with strong financial stability, operational excellence, and a forward-thinking approach to risk management.

APO Group (www.APO-opa.com), a leading award-winning pan-African public relations and communications consultancy, has strategically unveiled a volunteer communications programme comprising experienced communication professionals to support the Symposium of Episcopal Conferences of Africa and Madagascar (SECAM) (www.SECAM.org), the governing body of the Roman Catholic Church in Africa. This groundbreaking initiative, developed and launched by APO Group aims to enhance the Roman Catholic Churches ability to communicate effectively and engage with communities across the African continent.

The Catholic Church operates 82,235 Catholic Schools in Africa, educating 30,629,476 pupils. Its extensive network of care includes 13,880 facilities such as hospitals, clinics, dispensaries, leprosy centres, homes for the elderly and chronically ill, centres for disabled people, orphanages, kindergartens, and marriage counselling centres.

APO Group and SECAM, the governing body of the Roman Catholic Church in Africa, first entered into their partnership in May 2022 with the shared goal of enhancing media and public relations support for the Catholic Church in Africa. Not only did APO Group conceive the volunteer programme but it also assembled a team of elite, well-experienced African communications professionals.

The professionalization of SECAM's communications capabilities extends beyond standard capacity-building. This initiative includes the development and delivery of a strategic communications framework that aligns with SECAM's core mission and long-term objectives. The effort also builds upon APO Group's previous collaborations with the Church, which include the creation and roll-out of a comprehensive communications curriculum and tailored training programme for Catholic institutions across Africa.

The volunteer communications team will focus on key priorities, such as:

• Crafting and executing a long-term communications strategy for SECAM to strengthen the voice of the Roman Catholic Church and increase awareness of its work across Africa.
• Enhancing media relations to amplify the Church's presence.
• Designing effective visibility tools to connect with diverse stakeholders across Africa and beyond.

Several talented professionals have already joined the SECAM Communications Volunteer Programme, bringing a wealth of expertise and a shared commitment to advancing the Church's mission across Africa. Among them are Catherine Njoroge (https://apo-opa.co/3HapeKg), Head of Marketing and Strategy, who plays a role in shaping long-term plans to strengthen the Church's visibility; Nyarai Chapingidza (https://apo-opa.co/4myd1PT), Digital MarComm Manager, who drives efforts to boost SECAM's online presence; Lucy Kimani (https://apo-opa.co/4mxTKhp), Director of Communications and Advocacy, who steers impactful storytelling and advocacy campaigns; and Eunice Chege (https://apo-opa.co/4dw97mi), Communications Advisor, who contributes her extensive experience in developing and implementing communication strategies. Additionally, professionals joining in the business support functions include Majina Mwasezi (https://apo-opa.co/45pvSq3), Project Coordinator; Pauline Lugalia (https://apo-opa.co/4mAchd2), Executive Assistant to the Head of the Catholic Church in Africa; and Anne Nasumba (https://apo-opa.co/3ZBRqMp), Marketing and Communications Coordinator.

Rose Thuo (https://apo-opa.co/4dDCMu0), who joined the programme as Chief of Marketing and Communications, said: “We are witnessing a remarkable convergence of talent and purpose. Each volunteer brings something unique to the table, and together, we are building a communications foundation that will serve the African Catholic Church for years to come.”

There is an urgent and immediate need for candidates with HR and recruitment, as well as Graphic Design and website management experience to join the Roman Catholic Church in Africa's volunteer programme. Individuals with this expertise are encouraged to apply and support the Church's mission by strengthening its operational capacity across the continent. Interested volunteers are encouraged to apply through the official link: https://apo-opa.co/4dTxLxL.

“This pro bono initiative reflects APO Group's commitment to supporting impactful organisations across Africa. Many high-impact organisations (including NGOs) in Africa face financial barriers to establishing strong communication systems. This should never impede their ability to be seen and heard,” said Nicolas Pompigne-Mognard (www.Pompigne-Mognard.com), Founder and Chairman of APO Group. “Through initiatives like this volunteer programme, we strive to bridge that gap—delivering professional support to elevate their messaging and outreach at the highest possible level.”

“Africa is now the future of the Roman Catholic Church,” said Cardinal Fridolin Ambongo, the President of SECAM. “As our communities continue to grow, it becomes ever more important to amplify our voice and share our mission with the world.

“We are grateful to APO Group for their support and expertise in making this vision a reality. Their role in designing and implementing this initiative has been invaluable. APO Group's dedication to empowering impactful organisations aligns perfectly with our mission, and their contribution will undoubtedly leave a legacy in the Church's journey toward greater visibility and engagement worldwide.”

As part of its ongoing partnership with the Roman Catholic Church in Africa, APO Group has delivered a comprehensive range of support initiatives, including complimentary pan-African press release distribution and media monitoring, extensive online and in-person media training for over 22 communication professionals across the continent, and the provision of Zoom licences to Episcopal and Regional Episcopal Conferences. APO Group Founder and Chairman has personally led training sessions and held strategic meetings with Church dignitaries in several African countries to assess further areas of support. Furthermore, a volunteer programme launched in 2024 is now active, enhancing operational assistance for the Church throughout Africa.

According to recent data from the Vatican, there are 1.39 billion Catholics worldwide, representing around 18% of the world's population. Africa's 236 million Catholics already make up about 20% of the global Catholic population, but they are also the fastest-growing region in the world. By 2050, the World Christian Database estimates that African Catholics will make up 32% of the global Catholic population.

According to the United Nations' 2022 State of the World's Volunteerism Report, there are an estimated 862.4 million volunteers globally. Engaging in volunteerism offers individuals a unique opportunity to gain practical, hands-on experience, enhance their professional profiles, and develop valuable skills through impactful service.

This is a joint press release from APO Group and the Symposium of Episcopal Conferences of Africa and Madagascar (SECAM).

Distributed by APO Group on behalf of APO Group.

Media contact:
marie@apo-opa.com

About APO Group:
Founded in 2007, APO Group (www.APO-opa.com) is the leading award-winning pan-African communications consultancy and press release distribution service. Renowned for our deep-rooted African expertise and expansive global perspective, we specialise in elevating the reputation and brand equity of private and public organisations across Africa. As a trusted partner, our mission is to harness the power of media, crafting bespoke strategies that drive tangible, measurable impact both on the continent and globally.

Our commitment to excellence and innovation has been recognised with multiple prestigious awards, including a Provoke Media Global SABRE Award and multiple Provoke Media Africa SABRE Awards. In 2023, we were named the Leading Public Relations Firm Africa and the Leading Pan-African Communications Consultancy Africa in the World Business Outlook Awards, and the Best Public Relations and Media Consultancy of the Year South Africa in 2024 in the same awards. In 2025, Brands Review Magazine acknowledged us as the Leading Communications Consultancy in Africa for the second consecutive year. They also named us the Best PR Agency and the Leading Press Release Distribution Platform in Africa in 2024. Additionally, in 2025, the Davos Communications Awards 2025 awarded us the Gold Award for Best PR Campaign and the Bronze Award for Special Event.

APO Group's esteemed clientele, which includes global giants such as Canon, Nestlé, Western Union, the UNDP, Network International, African Energy Chamber, Mercy Ships, Marriott, Africa's Business Heroes, and Liquid Intelligent Technologies, reflects our unparalleled ability to navigate the complex African media landscape. With a multicultural team across Africa, we offer unmatched, truly pan-African insights, expertise, and reach across the continent. APO Group is dedicated to reshaping narratives about Africa, challenging stereotypes, and bringing inspiring African stories to global audiences, with our expertise in developing and supporting public relations campaigns worldwide uniquely positioning us to amplify brand messaging, enhance reputations, and connect effectively with target audiences.

About the Symposium of Episcopal Conferences of Africa and Madagascar (SECAM):
The Symposium of Episcopal Conferences of Africa and Madagascar (SECAM) (www.SECAM.org) was born out of the decision of the African Bishops during the Second Vatican Council (1962-1965) to establish a forum in which they could speak with one voice on matters pertaining to the Church in Africa. The establishment of SECAM is therefore the result of the Bishops' resolve to build a continental structure in order to bring forth the African vision to the whole Church.

Seeing the importance of such an Association for Africa, the Congregation for the Evangelisation of the Peoples invited the Presidents of the Regional Episcopal Conferences for consultations in 1968.

Consequently, the first visit of a Pope to Africa, in modern times, was seen as a very opportune occasion for the launch of the Symposium of Episcopal Conferences of Africa and Madagascar. This was therefore done during the visit of His Holiness Pope Paul VI in Kampala (Uganda) in July, 1969.

Thereafter, it was agreed to establish the Headquarters / Secretariat of SECAM in Accra, Ghana. There are three official languages of SECAM, namely, English, French and Portuguese. SECAM functions through eight regional conferences, each made up of a cluster of national episcopal conferences.

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Marna Cloete, President and Chief Financial Officer (CFO) of Canadian mining firm Ivanhoe Mines will speak at the upcoming African Mining Week.

During the event, Cloete will participate in the Women in Leadership Forum, Highlighting the vital role women are playing in driving sustainability, innovation, and inclusive growth within the mining sector. African Mining Week serves as a critical platform for advancing gender inclusivity in the sector, uniting policymakers, investors, academics, and mining stakeholders to foster a sustainable future for the industry.

African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

Cloete will join a high-level panel discussion titled Mergers, Acquisitions, and Partnerships: Building Resilience in a Consolidating Industry, exploring the role of partnerships in ensuring supply chain resilience. Under Cloete's financial leadership, Ivanhoe Mines has achieved several milestones, including partnerships with global players such as Zijin Mining, CITIC Metal, and Itochu; raising $490 million through equity in December 2023; and securing a $750 million debt package in early 2024 to support expansion.

Her leadership has also been instrumental in the advancement of Ivanhoe Mines' flagship projects, including the Kamoa-Kakula Copper Complex - the world's highest-grade copper project - in the Democratic Republic of Congo (DRC). Ivanhoe Mines also reopened the Kipushi Mine, one of the largest copper deposits globally, in the DRC while expanding its African footprint by entering Zambia's copper-rich North-Western Province and developing the Flatreef platinum group metals project in South Africa. Ivanhoe's $75 million exploration budget for 2025, with a strong focus on Africa, further underscores its commitment to unlocking the continent's mineral potential.

African Mining Week represents an ideal platform for Cloete to share Ivanhoe Mines' strategic investment approach, champion partnerships, and discuss the firm's ongoing contribution to African economic growth, employment, and industrialization. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

Hyatt (www.Hyatt.com) announced that Hyatt expects around 50% rooms growth across new and existing markets in Africa by the end of 2030.

In the past two years, Hyatt saw 51% rooms growth in Africa, fueled by the addition of several milestone properties and first-time brand entries. These included Park Hyatt Marrakech, introducing the luxury brand to Morocco; Hyatt Centric Cairo West, the brand's debut on the continent; Hyatt Regency Harare – The Meikles, Hyatt's first hotel in Zimbabwe; and Hyatt Regency Nairobi Westlands, its first hotel in Kenya.

Most recently, in March 2025, Hyatt Place Nairobi Westlands and Hyatt House Nairobi Westlands opened along Lower Kabete Road. This marks Hyatt's first dual-branded development in Africa, offering guests two distinct stay experiences under one roof, just minutes from Westgate Mall, the Nairobi National Museum, and Karura Forest.

“Last year marked a breakthrough year for Hyatt in Africa, and we're just getting started,” said Stephen Ansell, Managing Director, Hyatt, Middle East and Africa. “Our growth across key leisure and business hubs reflects a strategic focus on having hotels where our guests and World of Hyatt members want to travel most. As we expand, we remain committed to delivering high-quality hospitality experiences that resonate with both global travelers and local communities.”

In the next two years, Hyatt hotels are set to debut in new markets within the region, including the anticipated opening of Hyatt Regency Lagos Ikeja in Nigeria. Additionally, the launch of Park Hyatt Johannesburg is set for later this year, following an extensive renovation of The Winston Hotel. The luxury property will include 31 guestrooms and is expected to be popular with business and leisure guests alike, offering understated luxury and an elevated home away from home experience with highly personalized, intuitive, and fully engaged service.

“This is an exciting chapter in the growth of Hyatt's portfolio across Africa, as we add hotels with intent in high-demand destinations,” said Felicity Black-Roberts, Senior Vice President Development, Hyatt, EAME. “We are proud to collaborate with our trusted owners to thoughtfully introduce Hyatt's diverse brands to both new and established markets across the region.”

The upcoming properties are expected to join the Hyatt brand portfolio in Africa, with Hyatt hotels currently present in South Africa, Algeria, Morocco, Ethiopia, Tanzania, Zimbabwe, Kenya and Egypt. Some of the Hyatt branded hotels in the region include:

• Park Hyatt Zanzibar – Located in Stone Town, the luxury hotel holds 62 rooms and provides the ultimate haven amongst the area's winding alleys, bustling markets, mosques, and famed Zanzibari doors, featuring magnificent ornate wooden carvings.
• Park Hyatt Marrakech – Opened in 2024, this luxury resort is ideally located, with stunning views of the Atlas Mountains and next to Al Maaden Golf course. 
• Hyatt Regency Harare –  The Meikles – Marking the first Hyatt branded hotel in Zimbabwe, this hotel offers iconic architecture, charm, luxury, and easy access to major attractions in Harare.
• Hyatt Regency Dar es Salaam, The Kilimanjaro – A modern oasis in the heart of Tanzania's largest city, this hotel boasts a superb waterfront location and spectacular views of the harbour.
• Hyatt Centric Cairo West – Opened in October 2024, this art-focused hotel offers travellers a convenient location near iconic landmarks such as the Giza Pyramids and The Grand Egyptian Museum.
• Hyatt Regency Cape Town – located in one of Cape Town's most vibrant neighborhoods, Bo-Kaap, this property offers guests the opportunity to immerse themselves in the culture while enjoying views of Table Mountain.
• Hyatt Regency Nairobi Westlands – Nestled in the heart of Nairobi's bustling city centre, travellers can enjoy sophisticated lodgings, diverse dining options, and a contemporary selection of amenities and services.

For additional information on the Hyatt brand portfolio, visit www.Hyatt.com

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

Distributed by APO Group on behalf of Hyatt.

Media Contacts:                                      
Chloe Duncan
Hyatt – Middle East & Africa
Chloe.duncan@hyatt.com

About Hyatt Hotels Corporation:
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of March 31, 2025, the Company's portfolio included more than 1,450 hotels and all-inclusive properties in 79 countries across six continents. The Company's offering includes brands in the Luxury Portfolio, including Park Hyatt®, Alila®, Miraval®, Impression by Secrets, and The Unbound Collection by Hyatt®; the Lifestyle Portfolio, including Andaz®, Thompson Hotels®, The Standard®, Dream® Hotels, The StandardX, Breathless Resorts & Spas®, JdV by Hyatt®, Bunkhouse® Hotels, and Me and All Hotels; the Inclusive Collection, including Zoëtry® Wellness & Spa Resorts, Hyatt Ziva®, Hyatt Zilara®, Secrets® Resorts & Spas, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Sunscape® Resorts & Spas, Alua Hotels & Resorts®, and Bahia Principe Hotels & Resorts; the Classics Portfolio, including Grand Hyatt®, Hyatt Regency®, Destination by Hyatt®, Hyatt Centric®, Hyatt Vacation Club®, and Hyatt®; and the Essentials Portfolio, including Caption by Hyatt®, Hyatt Place®, Hyatt House®, Hyatt Studios, Hyatt Select, and UrCove. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith, Unlimited Vacation Club®, Amstar® DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.Hyatt.com.

Forward-Looking Statements:
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and pace of economic recovery following economic downturns; global supply chain constraints and interruptions, rising costs of construction-related labor and materials, and increases in costs due to inflation or other factors that may not be fully offset by increases in revenues in our business; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and group segments, as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geopolitical conditions and political or civil unrest or changes in trade policy; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters, weather and climate-related events, such as earthquakes, tsunamis, tornadoes, hurricanes, droughts, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, or fear of such outbreaks; our ability to successfully achieve certain levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our relationships with, third-party owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access the capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and our ability to successfully integrate completed acquisitions with existing operations; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to maintain effective internal control over financial reporting and disclosure controls and procedures; declines in the value of our real estate assets; unforeseen terminations of our management and hotel services agreements or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates, wages, and other operating costs; foreign exchange rate fluctuations or currency restructurings; risks associated with the introduction of new brand concepts, including lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and Unlimited Vacation Club paid membership program; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; and violations of regulations or laws related to our franchising business and licensing businesses and our international operations; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission (“SEC”), including our annual report on Form 10-K and our Quarterly Reports on Form 10-Q, which filings are available from the SEC. These factors are not necessarily all of the important factors that could cause our actual results, performance or achievements to differ materially from those expressed in or implied by any of our forward-looking statements.  We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

At its annual Cyber Security Weekend for the Middle East, Turkiye and Africa (META) region, Kaspersky (www.Kaspersky.co.za) Global Research and Analysis Team presented cybersecurity trends, including ransomware, advanced persistent threats (APTs), supply chain attacks, mobile threats, AI and IoT developments.

Kaspersky experts constantly track highly sophisticated attacks. Specifically, they are monitoring 25 APT groups currently active in the META region, including well-known ones such as SideWinder, Origami Elephant, and MuddyWater. The rise of creative exploits for mobile and further development of techniques aimed at evading detection are among the trends Kaspersky is seeing in these targeted attacks.

On a broader level, the first quarter of 2025 showed that Turkiye and Kenya had the highest number of users affected by web incidents (online threats) – 26.1% and 20.1% respectively. They were followed by Qatar (17.8%), Nigeria (17.5%) and South Africa (17.5%).

Ramsomware remains one of the most destructive cyberthreats. According to Kaspersky data, the share of users affected by ransomware attacks increased by 0.02 p.p to 0.44% from 2023 to 2024 globally. In the Middle East the growth is 0.07 p.p. to 0.72%, in Africa: 0.01 p.p. growth to 0.41%, in Turkiye 0,06 p.p. growth to 0.46%. Attackers often don't distribute this type of malware on a mass scale, but prioritise high-value targets, which reduces the overall number of incidents. While ransomware is not increasing largely, that doesn't mean that it becomes less dangerous.

In the Middle East ransomware affected a higher share of users due to rapid digital transformation, expanding attack surfaces and varying levels of cybersecurity maturity. Ransomware is less prevalent in Africa due to lower levels of digitisation and economic constraints, which reduce the number of high-value targets. However, as countries like South Africa and Nigeria expand their digital economies, ransomware attacks are on the rise, particularly in the manufacturing, financial and government sectors. Limited cybersecurity awareness and resources leave many organisations vulnerable, though the smaller attack surface means the region remains behind global hotspots.

Ransomware trends

• AI tools are increasingly being used in ransomware development, as demonstrated by FunkSec, a ransomware group that emerged in late 2024 and quickly gained notoriety by surpassing established groups like Cl0p and RansomHub with multiple victims claimed in December alone. Operating under a Ransomware-as-a-Service (RaaS) model, FunkSec employs double extortion tactics — combining data encryption with exfiltration — targeting sectors such as government, technology, finance, and education in Europe and Asia. The group's heavy reliance on AI-assisted tools sets it apart, with its ransomware featuring AI-generated code, complete with flawless comments, likely produced by Large Language Models (LLMs) to enhance development and evade detection. Unlike typical ransomware groups demanding millions, FunkSec adopts a high-volume, low-cost approach with unusually low ransom demands, further highlighting its innovative use of AI to streamline operations.
• In 2025, ransomware is expected to evolve by exploiting unconventional vulnerabilities, as demonstrated by the Akira gang's use of a webcam (http://apo-opa.co/4kgMYLu) to bypass endpoint detection and response systems and infiltrate internal networks. Attackers are likely to increasingly target overlooked entry points like IoT devices, smart appliances or misconfigured hardware in the workplace, capitalising on the expanding attack surface created by interconnected systems. As organisations strengthen traditional defenses, cybercriminals will refine their tactics, focusing on stealthy reconnaissance and lateral movement within networks to deploy ransomware with greater precision, making it harder for defenders to detect and respond in time.
• The proliferation of LLMs tailored for cybercrime will further amplify ransomware's reach and impact. LLMs marketed on the dark web lower the technical barrier to creating malicious code, phishing campaigns and social engineering attacks, allowing even less skilled actors to craft highly convincing lures or automate ransomware deployment. As more innovative concepts such as RPA (Robotic Process Automation) (http://apo-opa.co/3YXevJq) and LowCode (http://apo-opa.co/3YZwrmB), which provide an intuitive, visual, AI-assisted drag-and-drop interface for rapid software development, are quickly adopted by software developers, we can expect ransomware developers to use these tools to automate their attacks as well as new code development, making the threat of ransomware even more prevalent.

“Ransomware is one of the most pressing cybersecurity threats facing organisations today, with attackers targeting businesses of all sizes and across every region, including META. Ransomware groups continue to evolve by adopting techniques, such as developing cross-platform ransomware, embedding self-propagation capabilities and even using zero-day vulnerabilities that were previously affordable only for APT actors. There is also a shift toward exploiting overlooked entry points — including IoT devices, smart appliances, and misconfigured or outdated workplace hardware. These weak spots often go unmonitored, making them prime targets for cybercriminals,” said Sergey Lozhkin, Head of META and APAC regions in Global Research and Analysis Team at Kaspersky. “To stay secure, organisations need a layered defense: up-to-date systems, network segmentation, real-time monitoring, robust backups, and continuous user education”.

Kaspersky encourages organisations to follow these best practices to safeguard their assets:

• Always keep software updated on all the devices you use to prevent attackers from exploiting vulnerabilities and infiltrating your network.
• Focus your defense strategy on detecting lateral movements and data exfiltration to the Internet. Pay special attention to outgoing traffic to detect cybercriminals' connections to your network. Set up offline backups that intruders cannot tamper with. Make sure you can access them quickly when needed or in an emergency.
• Provide your SOC team with access to the latest threat intelligence and regularly upskill them with professional training. Use the latest Threat Intelligence (http://apo-opa.co/4mxFxRu) information to stay aware of the actual Tactics, Techniques, and Procedures (TTPs) used by threat actors.
• Enable ransomware protection for all endpoints. There is a free Kaspersky Anti-Ransomware Tool for Business (http://apo-opa.co/4kbrz6f) that shields computers and servers from ransomware and other types of malware, prevents exploits and is compatible with already installed security solutions.

To protect the company against a wide range of threats, use solutions from the Kaspersky Next (http://apo-opa.co/4mPmnqL) product line that provide real-time protection, threat visibility, investigation and response capabilities of EDR and XDR for organisations of any size and industry. Depending on your current needs and available resources, you can choose the most relevant product tier and easily migrate to another one if your cybersecurity requirements are changing.

Distributed by APO Group on behalf of Kaspersky.

For further information please contact:
Nicole Allman
nicole@inkandco.co.za

Social Media: 
Facebook: https://apo-opa.co/4kbrzDh 
X: https://apo-opa.co/3HcAAgT 
YouTube: https://apo-opa.co/3ZwLZym
Instagram: https://apo-opa.co/4kcys7m 
Blog: https://apo-opa.co/4msi18x

About Kaspersky:
Kaspersky is a global cybersecurity and digital privacy company founded in 1997. With over a billion devices protected to date from emerging cyberthreats and targeted attacks, Kaspersky's deep threat intelligence and security expertise is constantly transforming into innovative solutions and services to protect individuals, businesses, critical infrastructure, and governments around the globe. The company's comprehensive security portfolio includes leading digital life protection for personal devices, specialized security products and services for companies, as well as Cyber Immune solutions to fight sophisticated and evolving digital threats. We help millions of individuals and over 200,000 corporate clients protect what matters most to them. Learn more at www.Kaspersky.co.za.