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Around 2 months ago I finally activated and started investing in my Easy Equities account. And my experience so far: Great with the Capitec App as I can drop micro amounts from my Live Better savings in Fractional Share Ownership which convert into actual shares as we meet and surpass the Share Price on offer. …
Vantage Capital (www.VantageCapital.co.za), Africa's largest mezzanine debt fund manager, announced that it has made a R346m investment into Procera Group (Pty) Limited (“Procera”), a leading South African business process outsourcing (BPO) services provider serving both South African and international clients.
Vantage's investment comprises of the acquisition of a significant minority equity stake from the Procera founders as well as the provision of a mezzanine facility to support future strategic acquisitions by Procera.
Founded in 1990 as a debt recovery solutions provider, over the last three decades Procera has evolved into an integrated BPO services group offering support solutions to its clients via several distinct brands along the customer life cycle. Procera currently services over 50 local and international blue-chip clients across key industries such as Retail, Financial Services, Energy and Telecommunications in geographies including South Africa, Namibia, United Kingdom, United States and Australia.
Procera's investment into its proprietary contact centre software, deployment of emerging technologies such as predictive analytics, generative AI and omnichannel communications continue to improve productivity and the customer experience. With over 2700 employees, Procera is a significant driver of impact through employment, training and skills development, especially for women and youth in the communities within which it operates.
South Africa is consistently ranked in the top two BPO locations globally driven by factors including customer experience supported by an empathetic English-speaking workforce and cultural affinity to various source markets, a favourable time zone, and its abundance of youth talent. The South African BPO market is expected to achieve a 13% CAGR over the next five years ahead of global growth forecasts for the sector of 8.5% CAGR. The sustained global growth is driven primarily by corporates seeking to effectively manage costs and streamline business functions.
Roshal Ramdenee, Associate Partner at Vantage Capital, said “Vantage sees a tremendous opportunity for both job creation as well as a positive economic impact as Procera continues its rapid international expansion and drives market leading technological solutions in the BPO space. Vantage is proud to partner with a very capable management team and committed long term investors.”
Warren van der Merwe, Managing Partner at Vantage Capital, added “It is rare in the current economic environment to find fast-growing South African businesses and ones that are truly competitive in developed markets. Procera's founders, shareholders and management team have built an admirable business to date, and we are excited to invest into Procera's next stage of growth and development.”
Crispin Sonn, Chairman at Procera added “We are very pleased to have the long-term support of Vantage and its team of seasoned investors as we look to grow the Procera's business services footprint into international markets.”
PWC acted as financial advisor to the transaction, Werksmans acted as legal counsel for Vantage. Other advisors to the transaction included Step Advisory, Ernst and Young, Webber Wentzel, Eversheds, STBB, and IBIS Consulting.
Distributed by APO Group on behalf of Vantage Capital Group.
For more information contact:
Warren van der Merwe
Managing Partner – Vantage Capital
warren@vantagecapital.co.za
+ 27 (0) 11 530 9100
Roshal Ramdenee
Associate Partner – Vantage Capital
roshal@vantagemezzanine.com
Darshan Shah
Senior Associate – Vantage Capital
darshan@vantagecapital.co.za
About Vantage Capital:
Vantage Capital Group was established in 2001 and is the largest independent pan-African mezzanine debt fund manager on the African continent. It has raised funds of US$ 1.6 billion in seven distinct mezzanine and renewable energy debt funds as well as in a technology fund and has to date made 61 investments across the African continent.
Vantage has an office in Johannesburg, employees based in Cape Town, Nairobi, Lagos, Cairo, London, Dubai and Paris, and targets investment opportunities, with a focus on mezzanine debt, of US$ 10 - 50m across more than a dozen key African markets. Mezzanine debt is an intermediate form of risk capital, which is situated between senior debt, the lowest risk tranche of the capital structure, and equity, the highest risk. It combines elements of both debt and equity thereby providing companies with long-term funding on terms which are less dilutive to shareholders than pure equity.
Vantage recently launched an education investment platform which is targeting the education markets of Poland, Czechia, Romania, and Portugal.
Website: www.VantageCapital.co.za
This week might be a chance to get a little extra cash in your pocket – especially if you have some spare cash to throw into your Easy Equities account with a mix of first-time dividends, special dividends, and some bumped-up payouts. There are also several corporate actions taking place in which investors still have …
Africa Data Centres (www.AfricaDataCentres.com/) and DPA SA have broken ground on their solar farm in the Free State; The first phase will see power getting wheeled to its CPT1 facility; The second phase will see power being supplied to JHB1 and JHB2 once wheeling agreements with relevant municipalities conclude.
Africa Data Centres, a business of the Cassava Technologies group, is pleased to announce that it has broken ground on the construction of a solar farm in the Free State in collaboration with DPA Southern Africa.
This announcement forms a crucial component of the 20-year Power Purchase Agreement (PPA) inked in March 2023 with DPA Southern Africa a joint company of the French utility, EDF. The objective of the Free State farm is to furnish renewable energy to Africa Data Centres sites, commencing with its cutting-edge, carrier-neutral data centre in Cape Town, the CPT1 facility.
According to Cassava Technologies' President and Group CEO, Hardy Pemhiwa, “This initiative positions Africa Data Centres as a trailblaser in the data centre industry in responding to South Africa's energy crisis through sustainable technology solutions. This is in line with a broader industry shift towards innovative, eco-friendly practices. The strategic use of solar power showcases technology's role in pioneering solutions for energy challenges and environmental sustainability”.
Furthermore, Tesh Durvasula, CEO of Africa Data Centres, underscores the commitment to powering all data centres with clean, renewable energy sources. "Today's announcement represents a significant stride in our initiative to energise South African data centres sustainably, advancing our objective of achieving carbon neutrality. The first phase involves constructing the 12MW solar infrastructure to power our Cape Town data centre, with subsequent phases extending to our Johannesburg data centres.”
Nawfal El Fadil, the CEO of DPA SA, states, "Africa Data Centres, as a pioneer in the data centre industry, has consistently demonstrated a strong commitment to sustainability, aligning seamlessly with our company's values. We are thrilled and honoured to contribute to Africa Data Centres' mission of achieving carbon neutrality, beginning with the establishment of this solar power plant in the Free State to serve their data centre in Cape Town. At the heart of our collaboration lies a shared understanding that the path to carbon neutrality extends beyond infrastructure—it demands innovation, expertise, and collective determination to overcome challenges. DPA SA, backed by EDF's legacy, brings a wealth of experience and a proven track record in delivering high-quality, sustainable energy solutions to this partnership."
"We take immense pride in supporting Africa Data Centres on this journey, being among the pioneers in launching a wheeling solar plant, thereby paving the way for a greener, more sustainable future in South Africa," adds Nawfal El Fadil.
This project is a key element of Africa Data Centres' ambitious plans to emerge as the most sustainable colocation provider on the continent. "Beyond procuring renewable energy, our commitment to an efficiency strategy has earned us the internationally recognised ISO50001 certification for the effective operation of our data centres," Durvasula elaborates.
"Data centres worldwide face scrutiny for their reliance on grid power and renewables, and Africa is no exception. Africa Data Centres is actively addressing this issue by generating renewable energy, alleviating strain on the local grid. Additionally, our sustainability objectives encompass achieving net-zero status at all facilities, making this project another significant stride towards reaching that goal," concludes Durvasula.
Distributed by APO Group on behalf of Africa Data Centres.
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About Africa Data Centres:
Africa Data Centres is your trusted partner for rapid and secure data centre services and interconnections across the African continent.
Africa Data Centres is Africa's largest network of interconnected, carrier and cloud-neutral data centre facilities. Bringing international experts to the pan-African market. We are your trusted partner for rapid and secure data centre services and interconnections across the African continent. Strategically located, our world-class facilities provide a home for all your business-critical data. Proudly African, we are dedicated to being the heart that beats your business.
Africa Data Centres' aim is to unveil various business opportunities and to develop a strategic network of partnerships. This will further strengthen Africa Data Centres' superiority in providing our customers with the highest standard of interconnected, carrier and cloud-neutral data centre facilities throughout Africa. www.AfricaDataCentres.com/
About Cassava Technologies:
Cassava Technologies is a technology leader providing a vertically integrated ecosystem of digital services and infrastructure enabling digital transformation. Launched in 2021, the company was born out of a need to create a digitally connected future that leaves no African behind. Through its subsidiaries, namely, Liquid Intelligent Technologies, Liquid Dataport, Liquid C2, Africa Data Centres, Distributed Power Africa, Sasai Fintech and Telrad, Cassava is a multinational technology company that has operations across key growth markets like Africa, the Middle East, Latin America and the United States of America. Cassava provides its customers in 94 countries with offerings that will help them grow, transform, and expand their operations. https://apo-opa.co/3U7rdmB
About DPA Southern Africa:
DPA Southern Africa, a joint company of the French utility EDF and Distributed Power Africa, is at the forefront of the Southern African renewable energy market for businesses, laying the foundation for a sustainable and environmentally conscious future in South Africa and beyond.
Our commitment is to assist companies in achieving carbon neutrality and cost savings simultaneously by providing tailor-made renewable energy solutions that meet the specific needs of businesses. Our comprehensive offerings include on-site, wheeling, and storage solutions, offering businesses a holistic approach to sustainable energy management.
UK company Globeleq, the leading independent power company in Africa, today announced that its Red Sands project in the Northern Cape has been awarded Preferred Bidder status in South Africa's Energy Storage Capacity Independent Power Producer Procurement Programme (ESIPPPP). Globeleq is majority-owned by British International Investment (BII), the Development Finance Institution of the UK Government.
Battery storage is an essential enabler of renewable-energy generation, and the market for these systems is growing rapidly in South Africa and worldwide as a means of resolving energy crises and tackling climate change. These systems provide reliable power supply on demand, even when the energy grid is unstable, overcoming the challenges of intermittent wind and solar sources. They store energy at times of excess generation so that it can be released into the grid when generation falls short of demand, helping to mitigate the need for load-shedding.
Experts say that widespread energy storage is vital to expanding the reach of renewables and speeding the transition to a carbon-free power grid - this is key to helping reduce South Africa's reliance on fossil fuels as it seeks to transition to clean energy. This R5.7 billion (US$300 million) investment therefore represents a flagship project financed by the UK as part of its commitment under the Just Energy Transition Partnership agreed at COP26.
The Red Sands project is in the Northern Cape, about 100km southeast of Upington, and was originally developed by African Green Ventures, a South African renewable project development company owned by Norwegian based energy firm Magnora ASA. The project will cover approximately 5 hectares (12 acres) and will connect to the grid through the Eskom Garona substation. The substation will be upgraded by the Red Sands project to ensure that full network support capabilities of the project's batteries can be utilised.
Working closely with leading global battery and balance-of-plant suppliers, Globeleq estimates that the project will require an investment of approximately US$300 million and will take 24 months to construct after financial close, which is expected in 2024.
Globeleq is the largest independent power produce in Africa, providing nearly 1,800 MW of energy in South Africa, Mozambique, Kenya, Tanzania, Cote d'Ivoire, Egypt and Cameroon. Globeleq is a UK company based in London and backed entirely with Official Development Assistance (UK aid).
Red Sands will be Globeleq's first Battery Energy Storage Solutions (BESS) project in South Africa but the Group owns and operates a combined solar and BESS plant at Cuamba in Mozambique, and is developing BESS projects across the African continent. Globeleq also owns and operates 8 renewable plants (6 solar PV, 2 wind) in South Africa with a total generating capacity of 384 MW.
Mike Scholey, Globeleq's CEO commented:
"I am delighted that we have received Preferred Bidder status for this very important project, and I look forward to working with the government and our partners to take Red Sands to financial close and into operations. Electricity storage is going to be key not only in helping South Africa meet its considerable industrial and domestic demand for energy but also across Africa as more renewable energy projects benefit from the advances our industry has made with BESS technology."
British High Commissioner to South Africa, Antony Phillipson said:
"This is a significant investment in South Africa's future. The UK is proud to play such a vital role in helping to tackle the energy crisis with new technology that will bring power supply stability and most importantly support South Africa's ambition to reduce carbon emissions."
Distributed by APO Group on behalf of British High Commission Pretoria.
Using data-driven insights for trusted, accurate reporting JOHANNESBURG – April 04 2024 – Qlik®, a leader in data integration and data management, today announced that the Armaments Corporation of South Africa (Armscor), the acquisition agency for the South African Department of Defence and other state organs and entities, has used Qlik Sense® to significantly improve …
Lusikisiki, Eastern Cape, 3 April 2024: The South African National Roads Agency SOC Limited (SANRAL) has made a commitment to provide small, medium and micro enterprises (SMMEs) with adequate engineering tools to gain access into the construction sector. The roads agency recently hosted an information session for SMMEs at the Lusikisiki Resource Centre in the …
MIDRAND, April 3, 2024 – Stellantis continues its drive to make brands easily access to customers through its multifranchise dealer network with the addition of Jeep® and FIAT brands to Williams Hunt Fourways. Williams Hunt Fourways already houses Peugeot, Citroën and Opel brands within its ownership group, CFAO Mobility. The expansion continues to bolster dealer …
03 April 2024: When you purchase a home, the bank performs a valuation to determine if the price being offered for the property is market-related, this verification process ensures that you are not overpaying for a property that you are looking for or underselling it as a property owner. Angela Glover, Head of Product at …
02 April 2024: New vehicle sales seemingly plummeted in March compared to the same month last year. But two major factors conspired against the numbers, according to WesBank. Figures released by naamsa | the Automotive Business Council saw the March new vehicle market decline 11,7% to 44,273 sales, at first glance scaring the market. But …
PRETORIA, April 2, 2024 – Stellantis continues its drive to make brands easily accessible to customers through its multifranchise dealer network with an exciting expansion of Westvaal Motor Group Menlyn to include the Jeep® and FIAT brands alongside Peugeot, Opel, and Citroën. The impressive facility in Pretoria adds to the Westvaal Motor Group representation of …
Technology has changed how businesses operate; operations have become fast-paced, putting more pressure on small business owners to adapt to modern ways of conducting business. Local entrepreneur Vuyisile ‘DJ Vusinator’ Mathwasa, a music producer and DJ, has partnered with Vuma, South Africa’s leading network operator, to unleash his creativity through connectivity. He is one of …
Lenmed Ethekwini Hospital and Heart Centre is proud to announce that it has once again received the prestigious Diamond Status award from the World Stroke Organisation (WSO). The Diamond Status is the highest accolade in the tiers that recognise hospitals that consistently meet and exceed the WSO’sstringent criteria for stroke treatment and patient care. For …
With school holidays and the Easter weekend fast approaching, many families and travelers are gearing up for road trips to explore the beauty of South Africa and spend quality family time together. To ensure a hassle-free and enjoyable journey, WesBank offers essential tips for preparing your vehicle and paperwork before hitting the road. Lebo Gaoaketse, …
PRETORIA, SOUTH AFRICA, 27 March 2024 – Ford’s Driving Skills for Life (DSFL) program continues to enhance driving standards and promote road safety. This ensures that more motorists are equipped with these necessary and potentially life-saving skills, as they embark on journeys over the Easter Holidays – a time known for increased road risks. By …
Nowadays, the phrase ‘home is where the tech is' defines modern living, as South Africans increasingly (https://apo-opa.co/3TSowVR) adopt smart home innovations. These advancements are continuing to adapt and evolve in their capabilities which not only improve convenience and security but can also decrease energy consumption, contributing to cost savings.
This is according to Dr Andrew Dickson, Engineering Executive at CBI-electric: low voltage (www.CBI-LowVoltage.co.za/), who says that, in 2024, homes will become even more high-tech in terms of the efficiency, functionality, and personalised living experiences they provide. “We may still be a few years away from homes resembling those dreamed up by sci-fi movies, but we are already heading in the direction of smart technology becoming less of a luxury and more of a staple in modern homes.”
Below, he shares four trends that will help make South African homes smarter this year:
In addition, WiFi-7 is set to roll out in the country this year which will improve internet connectivity to devices in the home, extend range and promises to deliver nearly five times the speed of Wi-Fi 6. This, however, is also reliant on the release of more spectrum and regulatory approvals.
In the future, generative AI will make smart homes even smarter. Soon, these tools will not only help to identify appliances that require preventative maintenance but also set up appointments with service providers for their upkeep based on the homeowner's schedule and availability.
Additionally, as more South Africans embrace rooftop solar (https://apo-opa.co/3IUS6DT), smart technology enables the effortless integration of renewable energy sources to combat the impacts of load shedding while also ensuring that the power produced is used effectively and efficiently.
“In 2024, smart homes will become sanctuaries of innovation, enriching the lives of South Africans and heralding a future where homes understand, adapt and even pre-empt the unique needs of their residents," concludes Dr Dickson.
Distributed by APO Group on behalf of CBI-electric: low voltage.
For more information, go to https://CBI-LowVoltage.co.za or follow CBI-electric: low voltage on Facebook (https://apo-opa.co/3vvHgRW), Instagram (https://apo-opa.co/43Cr9hY), LinkedIn (https://apo-opa.co/4atY8Y6), X (https://apo-opa.co/4aw8czw), Threads (https://apo-opa.co/3VBbqxv) or YouTube (https://apo-opa.co/3IWb2Ce).
About CBI-electric: low voltage:
My Hexing Prepaid Electricity Meter Has Gone Into Tamper, What Now? In the realm of prepaid electricity meters, encountering a tamper condition can be a source of frustration for consumers. However, fear not, as there are steps that can be taken to rectify this issue and restore functionality to your Hexing prepaid electricity meter. These […]
Pretoria, South Africa – 26 March 2024: Original British adventure brand Defender will introduce a new high-performance, all-terrain hero in 2024: New Defender OCTA. The new flagship Defender will be the toughest, most capable and luxurious model in the line-up, charting new territory for the brand. Mark Cameron, Managing Director, Defender, said: “Defender has been …
When it comes to hotel development across Africa in 2024, just five words tell the story, “Egypt and the Big 5”. In this context, “the Big 5” does not refer to Africa's major wildlife attractions, (lion, leopard, rhinoceros, elephant and buffalo) but to the global hotel chains – Accor, Hilton, IHG, Marriott International and Radisson Hotel Group. This year's African Hotel Chain Development Pipeline report, widely acknowledged as the industry's most authoritative source, documenting and analysing the number of hotels being planned and built across the continent, reports a market share of 28% for Egypt and 71% for the Big 5 global chains.
The survey, conducted by Lagos-based W Hospitality Group, in association with the Africa Hospitality Investment Forum (AHIF), is based on responses from 47 global and regional (African) hotel chains, reporting on a pipeline of hotel development activity totalling around 92,000 rooms in 524 hotels, in 41 of Africa's 54 countries.
Significant trends to emerge in the past year include strong growth, over 9%, in both North and sub-Saharan Africa, an increase in very large hotels (the average size of the largest 10 hotels is 770 rooms, up from 723 rooms in 2023) and a rapid growth in resorts, up by 32% on 2023. In this respect, Zanzibar has performed particularly strongly. There, the pipeline has grown from seven resorts with 983 rooms in 2023 to 14 resorts and 2,048 rooms in 2024, a sure sign of confidence in these beautiful Indian Ocean islands.
The extent to which Egypt dominates the African hotel development pipeline each year, with almost 26,250 rooms in 109 hotels, is quite remarkable. The country's pipeline, up by 19 hotels and about 5,200 rooms in 2023, is larger than the next four countries put together. It has well over three times the number of rooms as second-placed Nigeria, which has 7,622 rooms in 50 hotels. Third-placed Morocco has 7,169 rooms in 52 hotels and Ethiopia, in fourth place, has 5,128 rooms spread across 31 properties.
There has been an extremely strong increase in the number of resort projects in the pipeline, growing from 24% of the total in 2023 to 30% in 2024. In addition, around half of the rooms in hotels and resorts that opened last year were in resorts. Both Boa Vista (Cape Verde) and Sharm El Sheikh (Egypt) score highly because of the very large average size of the resorts there. The largest hotel in the entire pipeline is a Rixos resort being planned in Sharm El Sheikh, with over 1,800 rooms.
The Big 5 global chains – Marriott International, Hilton, Accor, Radisson Hotel Group and IHG Hotels & Resorts – account for 66% of hotels and 71% of rooms in the entire African pipeline.
Marriott International, the world's largest hotel chain, remains in the lead for the third consecutive year, in a seemingly unassailable position as number one, with almost twice the number of pipeline hotels and rooms as second placed Hilton, and it has the largest number of rooms added in the year.
Looking back at previous years, there used to be a neck and neck race between Accor and Marriott International but, for the second year running, Accor's pipeline has actually decreased, from a high of about 20,250 rooms in 2022 to 13,375 rooms today. Executives say that they are focused on having a “clean and achievable pipeline, rather than numbers for numbers sake”.
Accor's quote highlights a key issue in tracking hotel development in Africa, which is differentiating between hotel projects that are proposed from those that are under construction and from those that have been completed. Typically, the length of time between signing and opening is between four and five years. However, the report identifies 35 projects in the pipeline that are 10 or more years old, including one hotel that was signed 16 years ago.
When it comes to hotels under construction, Marriott International leads the way, with 138 hotels (15,011 rooms) currently being built. It is followed by Hilton (72 hotels, 5,955 rooms), Radisson Hotel Group (35 hotels, 5,748 rooms) and Accor (70 hotels, 3,346 rooms). TUI Hotels & Resorts has charged into the rankings in fifth place with 12 hotels (2,208 rooms) under construction.
As well as looking at deals, which may or may not materialise, W Hospitality Group also looked at who was opening hotels in Africa in 2023, and where. Of the total 29 chain hotels and resorts that opened in Africa in 2023, the split was 10 in North Africa and 19 in sub-Saharan Africa. Of those 19 openings, 11 were in East Africa, including six new hotels and resorts in Tanzania, which had the most openings of any African country. It is clear evidence of the attractiveness of both the mainland and Zanzibar to investors and operators.
Accor came out top of the list for openings last year, and it also tops the number of hotels and rooms opened over the past five years (2019-2023), with 34 hotels opening, comprising around 5,500 rooms.
In terms of “actualisation”, 2023 was an exceptionally slow year. However, that is likely to be offset by a strong 2024, during which the top 10 chains expect to open 139 hotels with 19,122 rooms.
Trevor Ward, Managing Director, W Hospitality Group, said: "Our report contains very positive data, with the pipeline expanding by more than 9 per cent in 2023. This is the largest increase since 2018 and, according to data produced by CoStar/STR, is one of the highest increases globally, surpassed only by the Americas. We look not just at signed deals and their status, but also at the historical actualisation of these deals. This year, we've placed greater emphasis than we have in the past on the actualisation, because if the deals don't become operating businesses, generating profits for the owners and paying fees to the hotel chains, no one's objectives are being met, are they?"
“We're looking forward to some 139 hotels and resorts opening in Africa in 2024, with expectations of a far greater actualisation rate than in recent years, as Africa strives to achieve its fair share of the global hotel industry”.
When one considers existing hotels, as well as hotels in the development pipeline, the continent's current king of the jungle is Accor, with 165 hotels, containing 29,041 rooms, open and trading. Marriott International is in second place, 25,451 rooms in 143 hotels, Hilton is third, 12,525 rooms in 47 hotels and Radisson Hotel Group is close behind with 12,179 rooms in 61 properties. However, if Marriott International delivers all the rooms in its pipeline, it is on course to overtake Accor and become pack leader, with 51,816 rooms in operation.
Matthew Weihs, Managing Director of The Bench, which organises the Africa Hospitality Investment Forum (AHIF), concluded: “The report reveals some very positive trends, including strong growth in new hotel projects, the emergence of high-quality white label hotel operators and governments successfully attracting investment into their tourism industries. All this bodes well for deal-making discussions at AHIF.”
An update to the pipeline development survey, along with in-depth insights, will be presented by Trevor Ward at AHIF, which takes place at the Mövenpick Hotel, Windhoek, Namibia, from 25th – 27th June 2024.
The event is the most influential gathering of hospitality executives in Africa, connecting business leaders and fuelling investment in tourism projects, infrastructure, and hotel development across the continent.
Distributed by APO Group on behalf of Africa Hospitality Investment Forum (AHIF).
Media contact:
For further information and high-resolution images, please contact:
David Tarsh
+44 (0) 20 7602 5262 / +44 (0) 7770 816 070
Email: David@Tarsh.com
About W Hospitality Group:
The W Hospitality Group, a member of Hotel Partners Africa, specialises in the provision of advisory services to the hotel, tourism and leisure industries, providing a full range of services to clients who have investments in the sector, or who are looking to enter them through development, acquisition or other means. In sub-Saharan Africa W Hospitality Group is regarded as the market leader due to the market and financial expertise of its staff, its worldwide knowledge, and its commitment to its clients. In Africa, W Hospitality Group has to date worked in 40 countries on the continent, from its Lagos and Addis Ababa offices.
About the Africa Hospitality Investment Forum (AHIF):
AHIF is the premier hotel investment conference in Africa, attracting many prominent international hotel owners, investors, financiers, management companies and their advisers. It is organised by The Bench (www.TheBench.com), which has a long track record of delivering multiple premium hotel investment conferences and forums across Europe, the Middle East, Africa, Asia and Latin America. The Bench's mission is enabling prosperity by facilitating growth, networking, and thought leadership in the hospitality industry worldwide.
Sponsors of AHIF are Host Sponsor: Namibia Investment Promotion and Development Board (NIPDB); Host Partner: Kasada Capital Management; Platinum Sponsors: ClubMed, Radisson Hotel Group; Gold Sponsors: Accor, Aleph Hospitality, BWH Hotels, CHIC, CityBlue, hansgrohe, IHG Hotels and Resorts, Knight Frank, Kofisit, LEVA, Marriott International. Millennium Hotels and Resorts; Silver Sponsors: Gondwana Collection, HVS, STR, TIME Hotels, TV5Monde; Tuck Shop Sponsor: Profica; Bar Sponsor: Zia Travel Atelier; Exhibitor: MultiChoice Namibia; Networking Sponsor: Talinda; Official Carriers: Discover Airlines, FlyNamibia, South Africa Airways.
When it comes to upcoming dividend payouts, there are companies with an annual dividend yield higher than 10% as of writing, preparing to pay dividends with upcoming last dates to trade. (List courtesy of Easy Equities). Orion Office REIT Inc.: A real estate investment trust (REIT) that invests in office properties. It currently offers a …
ADvTECH -Africa’s leading private education provider – delivered a strong set of results and increased dividend by 45% for the past financial year. Commenting on the results, retiring ADvTECH CEO, Roy Douglas, said: “ADvTECH’s robust financial performance for the year ended December 2023 is indicative of the group’s sound business model and quality assets. Our …
Ecobank (www.Ecobank.com), the pan-African financial services group, announces the appointment of key senior executives to strengthen the Group's leadership team and to drive delivery of its new Growth, Transformation and Returns (GTR) strategy. Abena Osei-Poku joins as Regional Executive Anglophone West Africa and Managing Director Ecobank Ghana; Martin Miruka as Group Executive for Transformation, Enablement and Customer Experience; Anup Suri as Group Executive, Commercial and Consumer Banking; Michael Larbie as Group Executive, Corporate and Investment Banking; and Thierry Mbimi as Group Executive, Internal Audit & Management Services.
These top-level appointments are strategically important as Ecobank enters its next phase of growth and transformation, aiming to become the bank of choice and a leader in delivering responsive, innovative and affordable financial services' products and solutions for Africa. Ecobank Group has decided to combine the commercial and the consumer businesses, under the leadership of Anup Suri, underscoring its commitment to strengthening these two business units to drive growth. In addition, the establishment of the new role of Transformation, Enablement, and Customer Experience underscores the Group's determination to prioritizing the necessary leadership for the successful execution of its transformation.
Jeremy Awori, Chief Executive Officer, Ecobank Group, said: “These appointments are crucial to the execution of our recently announced five-year Growth, Transformation and Returns strategy. I am delighted that Abena Osei-Poku, Martin Miruka, Anup Suri, Michael Larbi, and Thierry Mbimi are joining our leadership team, each bringing proven, valuable, global and African financial services experience. I have no doubt that they will play pivotal roles in driving Ecobank's future growth and success.”
Abena Osei Poku joined Ecobank in January. She is an accomplished Pan-African business leader with over 25 years of experience in the financial services industry. Her expertise spans Corporate and Investment banking, Business banking and Risk Management across Africa. Her previous roles include Executive Director for Commercial Banking, responsible for Corporate & Business Banking at Barclays Bank Ghana; Co-Regional Head of Coverage, Corporate & Investment Banking at Absa Bank Group, overseeing East and West Africa; and CEO and Managing Director of Absa Bank Ghana. Abena takes over from Daniel Sackey who is retiring from the Bank. We thank Daniel Sackey for his leadership, commitment, and effective service across the continent over the past 27 years at Ecobank.
Martin Miruka, who joined Ecobank in February, brings with him 25 years' experience as C-suite executive, business strategist, serial entrepreneur, and angel investor with strong credentials on pan-African transformation. His previous roles include Group Head of Business Transformation, Customer Experience, and Innovation at Equity Group Holdings, where he successfully led transformation by breaking the Group's strategic and operational silos, aligning technology investments with business strategy, and ultimately delivering a branded Customer Experience across multiple African countries. He was also the Founder/CEO of Atom TDF, Kenya's first indigenous brand strategy and innovation consultancy, and Kava Africa, a fintech/Insurtech based in Nairobi, Kenya.
Anup Suri assumed his new role in March. He brings a wealth of over 30 years of senior leadership experience across various industries and organisations in both developed and emerging markets across Asia, Africa, the Middle East, Europe, the UK, North America and South America. He joins Ecobank Group from HSBC Group where he was Managing Director, Global Head of Retail Sales and Third-Party Distribution. Anup previously held other senior roles at Standard Chartered Group, Standard Chartered Bank and ABN Amro.
Michael Larbie, who assumed his role in March, brings over 25 years of global senior financial services and investment banking experience. He served as CEO of International & Broader Africa at Rand Merchant Bank (RMB), prior to which he held the positions of CEO & Managing Director of RMB Nigeria and Regional Head of West Africa, as well as Head of Coverage & Investment Banking for Africa (excluding South Africa). His experience also includes senior investment banking roles at Merrill Lynch and senior project management roles at American International Group. Michael takes over from Eric Odhiambo, who will retire from Ecobank at the end of April. We thank Eric Odhiambo for his unwavering commitment, invaluable contribution, and dedicated service over the past six and a half years, first as Chief Risk Officer and then as Group Executive of Corporate and Investment Banking.
Thierry Mbimi, who also started in March, has 27 years of extensive industry and consulting experience, with the last 17 years in director-level roles. He brings with him a wealth of global experience in audit and risk management, complemented by a solid background in technology. Thierry was the CEO & Managing Partner for KPMG Central Africa (Audit, Tax, and Advisory), prior to which he held several roles in the organisation, including Partner and Head of West Africa Financial Risk Management, Lead Partner for the Financial Services Sector in Francophone sub-Saharan Africa and Global Services Lead Partner for the African Development Bank.
Distributed by APO Group on behalf of Ecobank Transnational Incorporated.
Media Contact:
Christiane Mbimbe Bossom
Group Communications
Ecobank Transnational Incorporated
Email: groupcorporatecomms@ecobank.com
Tel: +228 22 21 03 03
Web: www.Ecobank.com
About Ecobank Group (or ‘Ecobank Transnational Incorporated' or ‘ETI'):
Ecobank Group is the leading private pan-African banking group with unrivalled African expertise. Present in 35 sub-Saharan African countries, as well as France, the UK, UAE and China, its unique pan-African platform provides a single gateway for payments, cash management, trade and investment. The Group employs over 15,000 people and offers Consumer, Commercial, Corporate and Investment Banking products, services and solutions across multiple channels, including digital, to over 32 million customers. For further information, please visit www.Ecobank.com.
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