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The company held its first virtual edition of the conference to reiterate its commitment to partners, customers, and the region; The event featured partners from more than 45 African countries, underlining Canon’s (www.Canon-CNA.com) focus on being closer to its customers and strengthening its regional presence. As the world looks to post-pandemic recovery Canon &#038; Central North Africa’s 2021 edition of their annual Partner Conference reaffirmed the company’s commitment to its customers, partners and the region. Themed ‘Resilience to Thrive’, the event was held virtually for the first time, due to COVID-19 pandemic restrictions. Commenting on the event, Somesh Adukia, Managing Director of Canon Central &#038; North Africa (CCNA) said: “Customer focus remains our number one priority and annually we meet with our partners to establish and set goals collaboratively for the year ahead. This ensures our continued prioritisation, as Africa has an immense market potential and we will continue to explore ways to convert it into business opportunities for Canon and our partners.” The conference was an opportunity for Canon to showcase its ‘Closer to Customers’ strategy, to accelerate new initiatives for additional growth in both B2B and B2C, to further reinforce the network as well as to strengthen organisation and sales channels in country. In addition, and most importantly, frontline staff and partners were acknowledged for their continued service, commitment and amazing resilience as they ensured that service levels remained consistent, despite the effects of the pandemic. As an experienced brand in a developing market, CCNA is focused on expansion throughout the region, and is committed to ensuring consistent growth with existing Value Business Partners, while simultaneously broadening the scope by increasing partnerships, value propositions, customer and service benefits. While discussions centred around the pandemic and global disruptions, it was an opportunity for Canon to also reflect on the successes of the past year, and how these anomalies made it incumbent to swiftly respond to the road to recovery. Part of this recovery looks at continuously reviewing the changing digital landscape and how the brand can remain connected with its customers.  Canon successfully achieved this by adding value with the launch of new products, and by customising them to suit a range of customers. In keeping with the global philosophy of Kyosei, which means living and working together for the common good, Canon responded by utilising proprietary technologies to provide global aid and support across all sectors – from contributing to relief for communities, to engaging in activities that support the medical field in the form of equipment and research – as well as providing innovative products and services to support a disrupted workforce. “We remain at the forefront of digital innovation and will adapt to the needs of our markets, which will include continuing to roll-out many innovative products and solutions. We applaud the success of our partners in a year that changed our lives, and we remain committed to our efforts,” concluded Adukia.Distributed by APO Group on behalf of Canon Central and North Africa (CCNA).Media Contact: Canon Central and North Africa Mai Youssef e. Mai.youssef@canon-me.com APO Group &#8211; PR Agency Rania El Rafie e. Rania.elrafie@apo-opa.com About Canon Central and North Africa: Canon Central and North Africa (CCNA) (www.Canon-CNA.com) is a division within Canon Middle East FZ LLC (CME), a subsidiary of Canon Europe. The formation of CCNA in 2015 was a strategic step that aimed to enhance Canon’s business within the Africa region &#8211; by strengthening Canon’s in-country presence and focus. CCNA also demonstrates Canon’s commitment to operating closer to its customers and meeting their demands in the rapidly evolving African market. Canon has been represented in the African continent for more than 15 years through distributors and partners that have successfully built a solid customer base in the region. CCNA ensures the provision of high quality, technologically advanced products that meet the requirements of Africa’s rapidly evolving marketplace. With over 100 employees, CCNA manages sales and marketing activities across 44 countries in Africa. Canon’s corporate philosophy is Kyosei – ‘living and working together for the common good’. CCNA pursues sustainable business growth, focusing on reducing its own environmental impact and supporting customers to reduce theirs using Canon’s products, solutions and services. At Canon, we are pioneers, constantly redefining the world of imaging for the greater good. Through our technology and our spirit of innovation, we push the bounds of what is possible – helping us to see our world in ways we never have before. We help bring creativity to life, one image at a time. Because when we can see our world, we can transform it for the better. For more information: www.Canon-CNA.com.Media filesDownload logo

Canon Central & North Africa Partner Conference Focuses on Commitment to the Continent

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Companies that deploy chat in commerce see higher revenue growth, stronger customer retention, reduced service costs, and increased marketing effectiveness than companies that don’t, indicates research from Aberdeen Research in partnership with Clickatell (www.Clickatell.com), a global leader in mobile communications and chat commerce.
Chat commerce—enabling customers to interact and transact with brands via chat apps—is being adopted globally, led by Asia, Europe, and Africa, and quickly followed by North America, the research shows.
The research is discussed in full detail in a just released on-demand webinar, “Leveraging Chat to Manage &amp; Evolve a Customer-First Digital Transformation Program,” which is available here (https://bit.ly/2LG2ghV).
In the global multi-industry survey of 405 companies, Aberdeen found that at least two-thirds of firms use chat and that those that use chat in commerce achieve superior financial results while delivering a better customer experience. Highlights of the research indicate that companies using chat in commerce experience are:
75% improvement in annual revenue growth 	48% bump in customer retention rates 	27% improvement in ability to reduce service costs 	21x improvement in marketing ROI
The research also shows that many forms of chat—including WhatsApp, live chat, and mobile in-app messaging—rank high in terms of planned adoption as companies seek more connection with consumers. Forty six percent of businesses have implemented messaging apps or plan to do so in the next 12 months.
“We are on the cusp of mass adoption of chat in commerce, and smart brands will create one holistic customer experience across all customer channels, including chat, the interactive channel of choice,” says Jeppe Dorff, Clickatell Chief Product and Technology Officer.
While many companies have pursued digital transformation efforts, many have fallen short of goals. By deploying chat—which is now used daily by eight in 10 adults, the research shows—companies can more quickly respond to changing consumer needs and preferences as they pursue their digital initiatives. This is especially critical in the wake of COVID-19, which hastened digital commerce around the world.
Chat-enabled data and insights
Chat also enables companies to gather more data and insight, more quickly, into the customer experience so companies can respond more readily. Lack of visibility into customer data was cited by eight in 10 companies as a key challenge, the research shows.
“Chat enables customer-friendly digital transformation and best practices are applicable in all industries,” says Omer Minkara, Aberdeen VP and Principal Analyst. “By making digital transformation efforts customer first, not business first and focused on internal needs, companies will see greater success in satisfying and delighting their customers.”
Companies who used chat in commerce, when compared to those who didn’t, were 84% more likely to improve the number of positive social media mentions for their brand, the research shows.
In the webinar, Minkara and Dorff also discuss how a brand may use chat to take a customer-first approach to digital transformation, including key first steps such as: focusing on frequent customer issues; devising metrics to measure success; iterating and improving chat initiatives as you go; and expanding use cases over time. The webinar also discusses issues such as key building blocks to use chat in customer-first initiatives and roadblocks and pitfalls to digital transformation.
To view the webinar, “Leveraging Chat to Manage &amp; Evolve a Customer-First Digital Transformation Program,” click here (https://bit.ly/2LG2ghV).
Distributed by APO Group on behalf of Clickatell.
Media Contact: Clickatell Nadia Louw Nadia.louw@clickatell.com +27-21-910 7700
Clickatell Andrea Mahoney andrea.mahoney@clickatell.com 415-846-1543
About Clickatell: Today’s consumers choose chat as their preferred method of communication (e.g., Text, WhatsApp, Apple iMessage, Instagram, Facebook Messenger, etc.) and expect a convenient, efficient and engaging experience to purchase goods and services. Clickatell’s (www.Clickatell.com) Chat Commerce Platform gives consumers the power to connect, interact, and transact with brands anytime, anywhere. With offices in the US, Canada, South Africa, and Nigeria, Clickatell has 15,000 customers, ranging from Fortune 500 organizations to well-known consumer brands and small businesses. Visit Clickatell at www.Clickatell.com.
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Chat Commerce Drives Higher Revenue, Better CX

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Durban-based tech company, immedia has invested R10-million to help African media entrepreneurs to build sustainable community radio by using Fabrik (www.Fabrik.cloud), a set of cloud-enabled digital tools that empower media entities to live-stream shows, grow and engage with audiences around the world, and benefit financially by monetising their audiences.

The 25-year-old company, which has the backing of Microsoft and the Industrial Development Corporation, has been developing their Fabrik technology since 2017. Fabrik allows media entrepreneurs to upend the traditional notion of “we broadcast and you receive”, by creating a feedback loop that directly helps the stations and listeners that use it to leapfrog old technology, to become citizen journalists, and find their strategic space in a digitally transformed world. It is already being used by 15 commercial clients, including radio stations Gagasi FM, Smile 90.4FM and YFM.

As part of its Digital Leap programme (https://bit.ly/2Z8oQme), immedia will be giving its platform to qualifying media entrepreneurs across Africa for free for a year. This includes consultation, training and support to help monetize the technology, cumulatively valued at R10 million.

Phil Molefe, a veteran of broadcast radio in South Africa, Fabrik’s Head of Business Development &#038; Strategy, says the programme was key to the company’s vision to spearhead media transformation. He says the uptake of Fabrik by energetic entrepreneurs at community radio stations showed how empowering the suite of digital tools is. “It enables them to deepen their relationship with their audience and monetise it sustainably because the quality of their engagement with listeners is meaningful.”

Building stable, sustainable community radio across Africa

Molefe points out that while community media is often under-resourced and struggles to retain skills, the company’s case studies have shown that it is more than possible for them to thrive &#8211; and that the Digital Leap programme is the kind of opportunity they need, and can succeed on. Fabrik helps media entrepreneurs by solving key challenges for them, including:

 	Providing them with a mobile application that allows community and campus radio stations to live-stream shows, as well host podcasts, allowing them to reach audiences well beyond the geographic constraints of their traditional radio broadcast signal. 	By shifting to a cloud-based tool, radio stations get access to archival and backup that is compliant with BCCSA and ICASA regulations. This helps them to significantly cut down on time and resources required to manually back up radio content to on-site servers or even tape. 	Messaging functionality, including push notifications, so that stations can better engage with their communities, publish written or multimedia content, and even promote active conversation between listeners. Push notifications help drive engagement by bringing attention to active competitions, surveys and polls, recently published content, and more. 	By encouraging listeners to register as a member and provide some of their personal information, such as geographics and demographics, stations are able to build audience profiles for their listeners, and gain a better understanding of their needs and preferences. 	These detailed analytics provided by Fabrik gives stations the data they need to convince advertisers and marketers of the value of promoting their products and services through the station’s app, helping bring in much needed revenue. 
Fabrik has a range of users, and about 60% of their listeners have an opt-in relationship with their broadcasters. By building and growing owned communities, stations then stand to benefit financially by serving highly relevant ads to their digital listeners. In addition, where sales conversions on social media are around 2%, Fabrik users enjoy 8%.

According to Tamie Mbombo, head of Marketing and PR at Izwi loMzansi, one of the largest community radio stations in South Africa, says that the platform has revolutionised the station’s engagement with its listeners, and has led the digital charge with featured podcasts and integrated advertising campaigns on the Izwi mobile app. “Community media’s aim is to provide trusted information and expression, and Fabrik has helped do that,” he says.

A change of mindset is required

The Fabrik team made some interesting observations based on the experiences of early adopters of the technology, including around community radio, where many advertisers and business decision makers are often dismissive of the audience. “For example, one of our clients is a station with an audience in the LSM 4-6 range. That audience is typically regarded as ‘too poor’ or too marginalised to go digital and yet our clients are proving that they are taking to it like ducks to water,” Molefe says.

He says that the take up by media entrepreneurs, either regarded as ‘on the fringes’ or as outliers, is the best showcase for Fabrik. “They are doing what they do because nobody told them they couldn’t &#8211; and it is proving to be a great leveller. We’ve seen how powerful this platform is in the community media space, which is why we are looking at boosting the rate of transformation.”

Applications for the Fabrik Digital Leap programme are now open. For more information visit the website (https://bit.ly/2MXxy4e) or contact Jonathan Lumley at jonathan@fabrik.cloud.
 Distributed by APO Group on behalf of Fabrik.
About Fabrik: The Fabrik (www.Fabrik.cloud) platform helps broadcast entities build independent, valuable and trusted communities in a safe space that you own and manage. Fabrik gives you progressively deeper data insights into your own community through real-time, human engagement. With the Fabrik platform and its impressive suite of services including customer data and insights and a powerful mobile application, you can grow audiences, increase customer engagement, gain valuable audience insights and statistics to help optimise content, and ultimately monetise your radio station. 
For more information visit www.Fabrik.cloud.
Phil Molefe, Business Development and Strategy Lead at Fabrik, is a veteran journalist and Media Executive with a wealth of experience in both the print and electronic media that spans nearly 40 years.
Jonathan Lumley, Clients, Channels and Markets Lead at Fabrik, is a radio promotions veteran who now empowers stations to bring new value to their audiences and advertisers through innovative technology-enabled workflows and campaigns.
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Community radio gets a R10m boost to accelerate the digital evolution in Africa

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Visionary leadership a catalyst in public’s appetite for sustainability; 44% believe climate change is currently impacting their lives; Increased awareness would change behavior.

Public awareness concerning the mounting challenges stemming from global warming is reassuringly high throughout the region  as the government, organizations, and civil society continue to play their part in embracing environmental sustainability initiatives.  Despite significant efforts by all those involved consumers still face obstacles preventing them from translating their concerns into action via eco-friendly practices, according to a new report by Boston Consulting Group (BCG) (www.BCG.com).
The report, titled ‘Are Consumers in the Gulf States Ready to Go Green?’, stresses that while 80 percent of GCC consumers have reaffirmed their preparedness to incorporate more sustainable actions into their daily lives, green infrastructure, financial incentives, and a greater selection of affordable eco-friendly goods and services would assist in accerlerating change.
As per the report’s findings, 71% of the region’s consumers are largely aware of climate change and how the issue negatively affects the environment.  55% of consumers with knowledge of the implications also perceive it to have a negative impact on the global environment, 44% already believe climate change is having a  significant influence on personal lives, and around two-thirds anticipate it will impact future generations.
&#8220;Climate change concerns across the GCC have increased due to greater access to information and successful government and corporate-backed initiatives,” said Simon Birkebaek a Partner at BCG Middle East. “If public and private sectors were to do even more to facilitate awareness initiatives, green infrastructure investments, and a wider choice of affordable eco-friendly goods and services then more people will choose to pursue sustainable lifestyles.&#8221;
Despite the high willingness of an increasing number of consumers to live more sustainably, the challenge is to translate these climate concerns into action. For example, many GCC states only recycle, reuse, and recover approximately 10% of the plastic and metal waste they use. Therefore, understanding the perceived barriers for consumers to take action is important to advance the green agenda .
“Public concerns around climate and sustainability do bode well for the future,” said Cristiano Rizzi, Managing Director and Partner, BCG Middle East. “Many people believe that environmentally sustainable lifestyles will play a bigger role in the future, and an encouraging number of people wish to make– or are making – progress with eco-friendly behavior and purchases.&#8221;
“Several challenges remain, and today, there are growing calls for more recycling and renewable energy information, as well as guidance on how to live more sustainably and reduce energy consumption. At the same time, people also want to see more investment geared towards sustainable infrastructure – particularly in recycling, renewable energy, public transportation, and eco-tourism.”
“Because interest insustainable goods and services is increasing companies would experience potential growth opportunities if they adapted their go-to-market strategies to more effectively cater to customers changing demands, specifically better options, more accessible price points, and better promotion of the benefits of sustainability.”
When it comes to a more sustainable lifestyle consumers do not always perceive higher prices as being adequately reflected in greater quality or better experiences, but rather some eco-friendly products could lack quality and downgrade lifestyles.
Other barriers to sustainable lifestyles include insufficient information, limited access to opportunities, limited range of varieties andsocial pressure to maintain current lifestyles.
Although Governments have done much to encourage recycling, 43% of consumers are deterred by lack of conveniently accessible recycling bins. Consequently, further investment in infrastructure, regulations, and information on how to recycle correctly will be needed if the pace of change is to increase.
The public’s reluctance to embrace electric vehicles is based around high purchase prices, operating costs, and a lack of charging infrastructure &#8211;  50% cite electric vehicles as being too expensive and 40% expressed the opinion that operating costs are too high. In terms of eco-friendly touristic destinations, the perceived higher costs, long travel distances, and lack of access to luxurious amenities, entertainment, and shopping are of concern to travellers with 32% pointing out the lack of amenities as an issue.
 Distributed by APO Group on behalf of Boston Consulting Group.
Media Contact: Laura Parkes Marketing Manager Mob: +971 54 998 8356 Parkes.Laura@bcg.com
About Boston Consulting Group: Boston Consulting Group (www.BCG.com) partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we help clients with total transformation—inspiring complex change, enabling organizations to grow, building competitive advantage, and driving bottom-line impact.
To succeed, organizations must blend digital and human capabilities. Our diverse, global teams bring deep industry and functional expertise and a range of perspectives to spark change. BCG delivers solutions through leading-edge management consulting along with technology and design, corporate and digital ventures—and business purpose. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, generating results that allow our clients to thrive.

80 Percent of GCC Consumers are Willing to Live More Sustainably, Says New Boston Consulting Group Report

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Daily: Laboratory test: 4,981 Severe cases: 238 New recovered: 248 New deaths: 2 New cases: 572

Total: Laboratory test: 2,014,440 Active cases: 15,402 Total recovered: 126,004 Total deaths: 2,158 Total cases: 143,566
 Distributed by APO Group on behalf of Ministry of Health, Ethiopia.Media filesDownload logo

Coronavirus – Ethiopia: COVID-19 update (9 February 2021)

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Minister of Health Lizzie Nkosi announces three new COVID-19 deaths in Eswatini, taking total deaths to 610. &#8220;May their souls rest in peace.&#8221;

New cases: 54 Total cases: 16,288 Active cases: 3,767 New recoveries: 138 Total recoveries: 11,857 New deaths: 3 Total deaths: 610
Distributed by APO Group on behalf of Ministry of Health, Government of the Kingdom of Eswatini.

Coronavirus – Eswatini: COVID-19 update (9 February 2021)

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New cases: 302 Total active cases: 14,564 Total currently admitted: 208 (25 new) Total number of tests conducted: 162,669 (1,981 new) Total confirmed cases: 27,722* Total recovered: 12,065 (309 new) New discharges from treatment units: 5 Total deaths: 883 (9 new)

*Out of these, 134 lost to follow-up and 76 outcome under investigation.
Distributed by APO Group on behalf of Ministry of Health and Population, Republic of Malawi.Media filesDownload logo

Coronavirus – Malawi: COVID-19 update (9 February 2021)

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Total cases: 16,811 (+190) Recovered: 12,988 (+359) Active cases: 3,597 In critical condition: 16 Tests: 926,187 (+4,905) Test positivity rate: 3.8% Recovery rate: 77.2% Deaths: 226 (+3) | 1.3%
Distributed by APO Group on behalf of Ministry of Health, Republic of Rwanda.Media filesDownload logo

Coronavirus – Rwanda: COVID-19 update (9 February 2021)

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At a time when COVID-19 cases in the country and elsewhere have reached unprecedented levels, the Federal Government and the United Nations System in Nigeria have agreed to further strengthen collaboration to ensure that Nigerians have access to timely, sustained, uninterrupted supply of affordable COVID-19 vaccines of assured quality.

At a recent strategic meeting to discuss finalization of the national vaccine deployment plans, Nigeria’s Minister of Health, Dr Osagie Enahire and UN Resident Coordinator, Mr Edward Kallon promised to “use all platforms, including the expansion of the One UN Basket Fund for COVID-19 as well as bilateral and multilateral and private sector engagements, to ensure vaccine security and equitable access for all Nigerians”.  
They hailed the development and approval of safe and effective vaccines less than a year after the emergence of a new virus as a stunning scientific achievement, and a much-needed source of hope. They jointly expressed their resolve to ensure that Nigeria gets the most potent and efficacious vaccines.
As the country prepares to receive the much-awaited first batch of vaccines through the WHO-led COVAX facility, the Government and UN have called on all stakeholders in the country to join ongoing efforts to boost public acceptance and confidence in COVID-19 vaccine safety.
They stressed the need to step-up high-level advocacy, strengthen leadership and coordination at the highest Federal and State level, and accelerate preparedness for effective and efficient vaccine delivery, including provisions to reach inaccessible areas. Said Dr Ehanire, “vaccine shortages, even for a short period of time, might increase risk of vaccine preventable diseases, including COVID-19, to surge and cause morbidity and mortality among vulnerable persons”.
Earlier, on 20 August 2020, His Excellency President Muhammadu Buhari issued a public statement joining the urgent global call for a People’s Vaccine Against COVID-19. “Now is not the time to allow interests of the wealthiest corporations and governments to be placed above the universal needs to save lives,” proclaimed President Buhari.
Distributed by APO Group on behalf of United Nations Nigeria.

Coronavirus – Nigeria: Federal Government of Nigeria and UN System unite to ensure COVID-19 vaccine security and equity

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The Executive Secretary of the Economic Commission for Africa (ECA), Vera Songwe, on Friday 5 February 2021 met with African Ministers in charge of finance and the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, to discuss immediate economic response to the COVID-19 pandemic.

During the virtual meeting, which was convened by the ECA and IMF, the ministers were unanimous in their call for additional liquidity, $500 billion in Special Drawing Rights (SDR), better market access, more concessional resources and an extension in the Debt Service Suspension Initiative (DSSI), given the prolonged nature of the pandemic. 
“We all know that the COVID-19 pandemic will persist for the next 2-3 years. Why are we extending the DSSI for 6 months and not 24 months?” said Ken Ofori-Atta, Ghana’s Minister of Finance and Economic Planning.
Mr Ofori-Atta said the cascading effects of COVID-19 were “a frightening thing for a finance minister to witness when they don’t have the means to respond.”
On access to the markets, Egypt’s Minister of Finance, Mohamed Maait, said “there’s a strong case for vulnerable countries to access the markets at affordable rate to afford essentials such as PPEs and food for their populations.”
Equitable access to COVID-19 vaccines was highlighted as an imperative for building forward better. 
“The world stands to lose an estimated $9 trillion if only the rich get COVID-19 vaccines. 40% of this loss will be in advanced economies,” said Ms Georgieva.
In addition to vaccine availability, ECA’s Executive Secretary, Vera Songwe, stated that the issue of distribution and deployment were also worthy of serious attention. And for this reason countries needed additional fiscal space and less austerity.
Ms Georgieva noted that in order to build forward better, there is need for “bold and immediate action for response, recovery, and reset of African economies,” adding “liquidity and financing response is the bridge to vaccines and recovery.”
The objective of the meeting was to “seek IMF support in forging a way out of the crisis by transforming existing liquidity instruments and easing market access to alleviate the debt burden and provide much needed liquidity for the continent,” said Ms Songwe.
Noting that Ms Songwe’s call together with Finance ministers’ to triple concessional financing was “critical in the spring meetings’ conversations last year,” Ms Georgieva urged the ministers to prepare for a focused and practical discussion during the 2021 Spring Meetings.
“Now is the moment to demonstrate that SDR allocation can be part of a comprehensive support framework, together with debt reduction, debt relief and policy support actions in the countries,” said Ms Georgieva.
Minister Vera of Angola emphasized the importance of country reforms and in particular good governance reforms as an important component of the response and recovery plan. Angola she said she committed to continuing on its reform path.
The meeting agreed on the need for a concerted effort to accelerate reforms to increase revenues, improve expenditure and manage debt to attract more private sector investments into Africa.
 Distributed by APO Group on behalf of United Nations Economic Commission for Africa (ECA).

Coronavirus: African ministers meet with IMF, ECA on immediate economic response to COVID-19

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Today, Windward (www.Wnwd.com) the Predictive Intelligence company applying AI to transform global maritime trade, and Mauritius Commercial Bank Ltd (www.MCB.mu) the longest-standing and leading banking institution in Mauritius, announced a long-term, multi-year partnership to enhance MCB’s due diligence and monitoring processes linked to its commodity trade finance business. Windward’s AI-powered solution will increase efficiency across MCB’s maritime trade finance practices and strengthen compliance and trade-based money laundering screening processes.  

Financial institutions in both Mauritius and around the world are under increased pressure by both national and international compliance regulators to implement extensive due-diligence processes, especially in light of new sanctions advisories by the Office of Foreign Assets Control (OFAC) in the US and the Office of Financial Sanctions Implementation (OFSI) in the UK. To this end, forward-thinking financial institutions are turning to AI systems to bolster effectiveness, streamline lengthy processes, and gain insights into deceptive practices used to facilitate financial crimes.
“Windward’s platform was the natural choice when we were looking to boost efficiency of our due diligence and Know Your Vessel processes,” said Zaahir Sulliman, Head of Specialized Finance at Mauritius Commercial Bank. “As maritime trade becomes increasingly complex to navigate, our partnership with Windward enables us to more effectively meet regulatory expectations and enhances our efforts to improve business operations, reduce risks, and improve compliance across our commodity finance business.”
This partnership comes on the heels of Windward’s announcement of a partnership with Danske Bank (https://prn.to/3jCW0nv) in November 2020. Windward’s powerful AI-based dynamic risk solution provides financial institutions with a state-of-the-art platform to effectively streamline the risk management journey. Windward’s Predictive Intelligence is powered by advanced maritime AI technology which is based on 300 behavioral analytics models and over 10 billion data points.
“We pride ourselves on partnering with best-in-class financial institutions,” said Ami Daniel, CEO and Co-Founder of Windward. “As trade finance becomes more complex due to increased regulation, it is essential for banks to enhance their compliance processes and to be better informed on the entities they conduct business with. We are proud to push the digital transformation of the industry forward by providing Mauritius Commercial Bank with the highest level of comprehensive risk-based analysis of maritime trade.” 
 Distributed by APO Group on behalf of The Mauritius Commercial Bank Ltd (MCB).
Windward Media Contact: Sarah Schloss Headline Media sarah.schloss@headline.media   +1 914 506 5105
Mauritius Commercial Bank Media Contact: Gilles Martial Internal Communication and PR Manager gilles.martial@mcb.mu +230) 202 63 57
About Windward: Windward (www.Wnwd.com) is the leading Predictive Intelligence company fusing AI and big data to digitalize the global maritime industry, enabling organizations to achieve business and operational readiness. Windward&#39;s AI-powered solution allows stakeholders including banks, commodity traders, insurers, and major energy and shipping companies to make real-time, predictive intelligence-driven decisions, providing a 360° view of the maritime ecosystem and its broader impact on safety, security, finance, and business. For more information visit: www.Wnwd.com.
About Mauritius Commercial Bank: With its 181-year history, The Mauritius Commercial Bank Ltd (MCB) (www.MCB.mu) has evolved to an integrated bank and financial services institution, which offers tailored and innovative solutions to a diversified client base, ranging from retail to corporate and institutions. MCB’s rich history, commitment to customer service and excellence, innovative culture, and high-quality employees have underpinned its solid franchise and long track record of sustainable profitability and financial soundness. MCB has also established a physical presence in 10 countries overseas, via its subsidiaries in Madagascar, Seychelles, and Maldives, its representative offices in Johannesburg, Nairobi, Paris, and Dubai, as well as its associates, Société Générale Moçambique and Banque Française Commerciale Océan Indien (BFCOI – operating in Réunion Island, Mayotte, and Paris).
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Mauritius Commercial Bank Taps Windward’s AI Solution to Optimize Trade Finance and Compliance Processes

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Students from the Mathare community in Kenya are set to receive a film or photography scholarship from Canon Central and North Africa (CCNA) [www.Canon-CNA.com] as part of a social media campaign raising awareness to the importance of skills development among young people.

The project is part of Canon’s Miraisha Programme, an initiative focused on delivering job opportunities and future livelihoods to young people across Africa through skills workshops, training programmes and enterprise support. Since its launch in 2014, the programme has educated more than 5,680+ future professionals across the continent, helping them to gain qualifications, secure employment and set up their own businesses.
In order to celebrate the success of the Miraisha Programme to date, CCNA will be offering scholarships for the KCA University to students from the Mathare community. The scholarships will enable the young people to develop their visual storytelling skills, opening opportunities for them to improve their own lives and the community around them.
To raise awareness of the importance of this initiative, CCNA will also release a series of videos showcasing the Miraisha Programme in action in the Mathare community. Supported by influencers across the region, CCNA aims to share these videos as widely as possible to educate and inspire others on the power of visual storytelling as a tool for personal and community development. You can watch the full story &#038; share from @CanonCNA (https://bit.ly/3q36miZ) social channels.
Mathare is one of the most deprived urban areas in Africa, with young people suffering from a lack of employment prospects. The videos highlight how Canon Miraisha worked with the Mathare Community Training Programme to deliver training workshops to a number of young people in the area. These taught them a range of photography and filmmaking skills to help improve their opportunities. We have created a train the trainer programme which invests in training local trainers in country to be able to teach, share knowledge and skillsets with fellow photographers/ filmmakers and the next generation. 15 local people are now employed as Canon Miraisha Trainers as a result of the programme.
The campaign will run for 10 weeks, and for every 10,000 engagement of the video on social media, CCNA will reveal one of the scholarship recipients, showcasing their personal story, background and hopes for the future.
Somesh Adukia, Managing Director at Canon Central and North Africa Sales, said, “Canon is committed to empowering youth in the African region through the development of vocational skills in imaging. This is best demonstrated through the continued successes of the Miraisha programme which actively empowers youth with skill that are practical, marketable and sustainable. We believe the powerful stories that will come from the project are best driven by the creative talent developed from the communities being featured. We also look forward to rolling out this initiative across the region in the coming months.”
Since 2016, the Miraisha Programme has worked with a wide range of organisations across Africa, including Kenyatta University, Kenya Film Commission (KFC), Kenya Photography Awards, Yabba College of Technology in Nigeria, Uganda Press Photo Award (UPPA), The NRB Bus, and PEFTI Film institute in Nigeria amongst many other organisations or events. For more details on the programme please visit the website (https://bit.ly/3tKTcJF).
 Distributed by APO Group on behalf of Canon Central and North Africa (CCNA).
Media Contact: Canon Central and North Africa Mai Youssef e. Mai.youssef@canon-me.com
APO Group &#8211; PR Agency Rania ElRafie e. Rania.ElRafie@apo-opa.com
For more information on the Canon’s Miraisha Programme, please visit: Facebook: https://bit.ly/3q36miZ Instagram: https://bit.ly/3q93YHw Linkedin: https://bit.ly/3a58ml8 Youtube: https://bit.ly/2NfCyRy
About Canon Central and North Africa: Canon Central and North Africa (CCNA) (www.Canon-CNA.com) is a division within Canon Middle East FZ LLC (CME), a subsidiary of Canon Europe. The formation of CCNA in 2015 was a strategic step that aimed to enhance Canon’s business within the Africa region &#8211; by strengthening Canon’s in-country presence and focus. CCNA also demonstrates Canon’s commitment to operating closer to its customers and meeting their demands in the rapidly evolving African market.
Canon has been represented in the African continent for more than 15 years through distributors and partners that have successfully built a solid customer base in the region. CCNA ensures the provision of high quality, technologically advanced products that meet the requirements of Africa’s rapidly evolving marketplace. With over 100 employees, CCNA manages sales and marketing activities across 44 countries in Africa.
Canon’s corporate philosophy is Kyosei – ‘living and working together for the common good’. CCNA pursues sustainable business growth, focusing on reducing its own environmental impact and supporting customers to reduce theirs using Canon’s products, solutions and services. At Canon, we are pioneers, constantly redefining the world of imaging for the greater good. Through our technology and our spirit of innovation, we push the bounds of what is possible – helping us to see our world in ways we never have before. We help bring creativity to life, one image at a time. Because when we can see our world, we can transform it for the better.
For more information: Canon-CNA.com.
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Canon’s Miraisha Programme Enables Young African Story Tellers to Achieve Their Dreams

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers, but does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.
By Pablo Mitogo, Associate Attorney from Centurion Law Group (www.CenturionLG.com).

Since the outbreak of COVID-19, many countries have been overwhelmed and the health systems of the most powerful countries have collapsed.
The wave of chaos has also reached companies, especially in small economies such as Equatorial Guinea. Many companies have seen their volume of activity decrease drastically, with subsequent cost reductions. The question remains how does a company reduce costs without drowning the company?
In recent months we have seen many processes of reduction of employee workforce. Careful observation revealed that companies that reduced workforce for economic reasons suffered penalties of 30 days of salary per year of work for each worker. Consequently, they increased costs rather than reducing them because these processes are not free. The law approved this in 2012 prior to the COVID-19 pandemic. An employee cannot be dismissed without just cause and if dismissal is due to economic reasons, a slightly lower penalty is paid than that paid for wrongful dismissal. However, this penalty is still high if the aim is to cut costs.
There is another way to do this type of reduction at zero cost but why are companies not using this simpler and cheaper formula?
 1. What does this formula consist of?
Suspend the employment contract. The suspension of the employment contract equates to a temporary interruption of the obligation to work on the part of the employee and the obligation to pay a salary on the part of the employer. Furthermore, all the computations on the employee&#39;s rights are paralyzed: vacations, extraordinary payments for October and December and, seniority. Additionally, there are no penalties.
 2. What happens when you suspend an employment contract?
There are three outcomes: i) The employee stops coming to work ii) The employer stops paying his salary and iii)  There has not been a dismissal. Therefore, the employer does not pay the settlement or compensate the employee because the employment contract is still in force but is temporarily frozen.
Many of the companies that initiate these types of procedures are suffering a drastic drop in their activity. They do not want to dismiss their employees but when this need arises, the suspension of the employment contract allows the employer to achieve the same goal of reducing personnel costs without costing the company money.
3. Is there a limit to the number of employees that an employer can suspend?
No, it is a bilateral and voluntary procedure between the employer and the employee. However, the suspension must be notified to the labor authority to avoid surprises in the future. Equatorial Guinea&#39;s labor law prioritizes the preservation of employment at all costs, hence it is always a good idea not to dismiss employees and to keep the employment contract in force even if it is temporarily frozen.
4. How it is done and what are the risks?
The risks here are minimal. The only risk is that where the contract was not suspended correctly, the suspension agreement may be declared null in the future. To avoid this, two practices must be observed: i) Do not dismiss the employee during the suspension period and ii) Suspend the employee with his agreement and notification to the labor authority. The necessary steps are as follows:
 	Negotiate the suspension and the duration thereof with the employee. The employee must agree to the suspension. 	Inform the labor authority about said suspension once an agreement has been reached with the employee. 	Sign a contract, to give a greater guarantee of the suspension, in which the terms of the suspension are specified by defining when the employee is expected to return to work or what circumstances must be met in order for him to return to work. (Consult with an experienced attorney to maximize the guarantees) 
5. How is the employee reinstated after suspension and what are the effects?
As established in the agreement, the employee must return to work after receiving such notification from the company. The employment relationship continues under the same conditions as agreed to when the contract was suspended. Since the labor rights are not computed during the suspension period, the process is complete with no accumulated cost. It is noteworthy that all the rights that the employee had before the suspension are preserved.
In summary, most companies dismiss a group of employees due to economic reasons in order to reduce staff and save costs when facing a crisis. The consequence of this process is that compensation for dismissal is generated for each employee which can result in high expenses. Companies should use the legal alternative of suspending employment contracts which can be done at zero cost. The suspension of employment contracts seems to be the most adaptable solution for companies dealing with the COVID-19 crisis.
Distributed by APO Group on behalf of Centurion Law Group.
About Centurion: Centurion Law Group (www.CenturionLG.com) is a leading pan-African legal and energy advisory group with extensive experience in the oil and gas sector. Centurion provides outsourced legal representation and covers a full suite of practice areas including, but not limited to, labour law and related employment matters. Centurion specializes in assisting clients that are starting or growing a business in Africa. Get in touch with the Centurion team should you require any legal assistance or advice.
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Reduction of personnel for economic reasons vs Suspension of employment contracts: Why are companies in Equatorial Guinea spending money in times of crisis? (By Pablo Mitogo)

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers, but does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.
The President of the African Development Bank (www.AfDB.org), Dr. Akinwumi A. Adesina, has called for fair access to COVID-19 vaccines for Africans and said debt relief would help African economies recover faster and better from the pandemic.

Speaking on 8 February at a virtual event held in his honour as the outgoing African of the Year of African Leadership Magazine, the Bank President warned that so long as the coronavirus was unchecked in any part of the world, no one would be safe.
“There is light at the end of the tunnel – it just happens to be a very long tunnel. I am very positive that African economies will bounce back over the next two years, but the speed of recovery will depend on ensuring that Africa gets enough vaccines for its population,” Adesina said.
“The world must not short-change Africa on access to vaccines,” he added.
He also said significant debt relief would be key to accelerating African economies’ recovery from the COVID-19 crisis.
“To recover faster, Africa will need significant debt forgiveness from bilateral and official creditors,” he said during the virtual event attended by Douye Diri, the Governor of the Nigerian state of Bayelsa, and Benoy Berry, Chairman of Contec Global Worldwide.
Adesina added: “While developed countries have been spending trillions of dollars for fiscal stimulus, Africa does not have such resources. The payment for vaccines is already adding to the already high debt burden.”
A highlight of the conversation was Adesina’s induction into the magazine’s African Leadership Hall of Fame for “raising the performance bar” in Africa.
African Leadership Magazine Chairman Ken Giami said the African Development Bank had scored some outstanding achievements in 2020 under President Adesina and had “infected” Africa with optimism.
Giami said: “ALM feels very proud of the President’s contribution as he has raised the performance bar for future African of the Year winners. Indeed, his award was a call for greater service to the people, especially at a time when Africa needed true leadership.”
Adesina vowed that the African Development Bank, in collaboration with its partners, would continue to lead Africa’s recovery and development after the pandemic, with a focus on youth, women and healthcare.
“Together, we will create new opportunities for African youth and trigger a youth-based wealth system for Africa. Together, we will ensure that we deliver financing for African women,” he said in his concluding remarks.
He stressed: “Together, we will support Africa to build world-class, quality healthcare infrastructure, while ensuring also that the continent builds its pharmaceutical and vaccine industrial production.”
African leaders who have previously won the African Leadership Magazine African of the Year award include former Liberian President and Nobel Peace Prize winner Ellen Johnson Sirleaf (2011); Sudanese businessman Mo Ibrahim (2012); former Vice President of Nigeria Atiku Abubakar (2013); former President of Tanzania Jakaya Kikwete (2014); Tanzanian businessman and philanthropist Mo Dewji (2016); and President of Rwanda, Paul Kagame (2017).
 Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Media Contact: Emeka Anuforo Communication and External Relations Department African Development Bank Email: e.anuforo@afdb.org
About the African Development Bank Group: The African Development Bank Group (www.AfDB.org) 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.
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African Development Bank President says vaccines and debt relief will be key to Africa’s recovery from COVID-19

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers, but does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.
Africa Oil &#038; Power (AOP) [www.AfricaOilandPower.com] will host the Mozambique Gas &#038; Power (MGP) 2021 Presidential Award Ceremony &#038; Virtual Workshops on March 8-9 in Maputo; To recognize the leadership of President of the Republic of Mozambique H.E. Filipe Jacinto Nyusi, AOP will present its flagship “Person of the Year 2020” award at the dedicated ceremony; To comply with COVID-19-related restrictions, the MGP 2021 Conference &#038; Exhibition has been re-scheduled to Q3 2021, while planned workshops will take place virtually on March 9.

Africa Oil &#038; Power (AOP) will host the Mozambique Gas &#038; Power (MGP) 2021 Presidential Award Ceremony on March 8, in which its prestigious “Person of the Year 2020” award will be presented to the President of the Republic of Mozambique H.E. Filipe Jacinto Nyusi. Attended by industry leaders and government representatives, the ceremony will include speakers from the Ministry of Mineral Resources and Energy and the African Energy Chamber. The ceremony will precede a day of technical workshops on March 9, hosted on AOP’s digital platform and in collaboration with ENH, emphasizing capacity building across diversified sectors.
For the first time, AOP is incorporating virtual formats into its event calendar to provide global attendees the opportunity to attend and participate, despite current travel and meeting restrictions. In a bid to showcase progressive energy and non-energy initiatives taking place across Mozambique – as well as drive local content, sustainable project development and financial inclusion – a series of virtual workshops will be held by leading companies in Mozambique on March 9. These workshops will target a wide range of subjects, including capacity building, critical infrastructure, security and community and deal-making across the energy value chain.
Organizations that wish to lead a workshop can apply by contacting jp@africaoilandpower.com and interested attendees may register for their virtual pass here (https://bit.ly/3rIGlWq).
AOP’s Person of the Year award is presented to exceptional individuals who display leadership, innovation and integrity in positioning their respective countries or organizations at the forefront of the global energy sector. President of the Republic of Mozambique H.E. Filipe Jacinto Nyusi has steered Mozambique toward energy success in the face of global economic challenges and is responsible for Mozambique’s industry expansion and sustained attraction of foreign direct investment – including several multibillion-dollar natural gas projects. The ceremony is dedicated to celebrating this achievement through the presentation of the award.  
Media representatives are invited to apply to join the award ceremony as virtual guests. Register here (https://bit.ly/3rIGlWq) if you wish to apply to attend as media. In-person delegate passes are extremely limited and by invite only.
As AOP prepares to welcome attendees to the Presidential Award Ceremony in March, AOP has adopted several safety measures (https://bit.ly/3p82dZC) to ensure a safe and secure event. For further updates and latest news on Mozambique and other African markets, please visit www.AfricaOilandPower.com.
Distributed by APO Group on behalf of Africa Oil &#038; Power Conference.Media filesDownload logo

Africa Oil & Power Technical Workshops Support Mozambique Capacity Building

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers, but does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.
Team Qhubeka ASSOS (www.TeamQhubeka.com) is excited to announce that Fabio Aru will be one of six debutants in our seven rider line-up for Tour de la Provence, starting on Thursday.

The four-day stage race opens up with an undulating 173km from Aubagne to Six-Fours-les-Plages, but all eyes will likely already be cast to stage three and the mountain-top finish at Mont Ventoux.
Aru, the 2015 Vuelta a España champion, expressed his anticipation in finally getting his road-racing season underway for his new team, and he’ll be joined by an exciting selection, of varying experience, out on the roads of southern France.
South Africa’s Nicholas Dlamini opens his season at the race having not been in action since October 2020. The 25-year-old, who recently became a father for the first time, showed some good form at the recent training camp held in Spain and will now be looking to bring that sharpness straight into his first race.
The highly-experienced duo of Sander Armeé and Kilian Frankiny will both relish the opportunity to test themselves early in the season with the climbing on offer, and both have experience of scoring good personal results in the past too.
Our line-up is completed by a very exciting young trio: Frankiny’s Swiss compatriot Mauro Schmid, exciting Czech youngster Karel Vacek and Connor Brown who has made the exciting step up from our Continental team in 2021. These three are certainly exciting prospects to watch throughout the season.
As our team did with it’s line-up for our opening race of the season at Etoile de Besseges, we’ve asked one of our ardent fans to officially name the team for the Tour de la Provence. It something that’s a new innovation for our team, and one which we know will draw our fans even closer.
For this race we want to say a big “thank you” to Marco Overbeeke for your incredible support of Team Qhubeka ASSOS.
Fabio Aru I’m really happy and I can’t wait now to start my road season with my new team. For sure I’ve worked really hard over the winter including participating in some cyclocross – which I thoroughly enjoyed.
I’m very happy overall (with my condition) and I now just want to start my road season. I will do my best for my team and teammates, and we will see how the race unfolds.
Nic Dlamini I’m really quite excited to start racing again. I’ve never raced in February in Europe as I always start Down Under, so it’s quite early (for me) but I’m super- excited.
I’m happy with my form; the body’s showing some good signs from the camp and I’ve been maintaining that shape so I’m excited to put it to the test. For the team going in there it’s going to be something new for us all: new riders in the team, first time working together and so on, but I think we’re all super-motivated to the highest level after seeing how our team performed in Etoile de Besseges. We want to continue with that momentum and hopefully do better and get closer and closer to the podium overall.
I think with the dynamics of the whole team everyone is motivated and in a good space; and I think we’re looking forward to a great start.
Gabriele Missaglia – Sports Director The main goals for the Tour de la Provence will be to feature well across the race; definitely trying to win a stage and consequently aiming for a strong general classification from Aru and Armeé.
The team is competitive, although we still have to consider that for this group it’s the first race of the season and despite having worked well with targeted training we do not know our real racing condition, yet.
In what promises to be a very interesting race, the third stage is going to be by all accounts the most important, it is the stage that will likely define the general classification. I very much hope for a good result, and I am sure that is within our reach.
 Distributed by APO Group on behalf of Team Qhubeka ASSOS.
Media Contact: Jean Smyth (Head of Communications) Email: jean@ryder.co.za Mobile: +27 63 4701 1710 or +31 625 739 033
About Team Qhubeka ASSOS: Team Qhubeka ASSOS (www.TeamQhubeka.com) is a purpose-led, high-performance team, fighting to win on the world&#39;s biggest stage, to inspire hope and create opportunity. Founded in 2007, Team Qhubeka ASSOS (formerly NTT Pro Cycling) became the first-ever African cycling team to gain a UCI WorldTour license, in 2016.
We achieved our first major win in 2013 when Gerald Ciolek won Milan-San Remo, one of the five Monuments of cycling. We have competed in six Tour de France’s and notched up 7 stage wins, with Mark Cavendish wearing the coveted Yellow Jersey at the 2016 Tour de France.
We are a multicultural, diverse team with bases in South Africa, the Netherlands and Italy. There are 19 nationalities represented across our World Tour and continental feeder team rosters. Our focus on developing African cycling has resulted in more than 55 riders from the African continent be given the opportunity to race on the world stage, since the team&#39;s inception.
We race to help people to move forward with bicycles through our relationship with Qhubeka Charity. Through our work with Qhubeka, we have contributed to the distribution of over 30 000 bicycles in communities in South Africa.
About Qhubeka: Qhubeka (www.Qhubeka.org) is a charity that moves people forward with bicycles.  People earn bicycles through our programmes, improving their access to schools, clinics and jobs.
A bicycle is a tool that helps people to travel faster and further, and to carry more. In the face of extreme and persistent poverty, bicycles can change lives by helping to address socioeconomic challenges at the most basic level – helping people to get where they need to go. 
All images attached to the press release can be used with the respective image credit in combination to this release.
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Aru, Dlamini spearhead Team Qhubeka ASSOS at Tour de la Provence

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers, but does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.
Bond issuance will further bolster APICORP’s (www.APICORP.org) capital and liquidity positions to continue executing its mandate for the sustainable development of the Arab energy sector; Bond issuance achieved APICORP’s lowest ever spread and yield at +69 basis points and 1.26%, respectively; Bond issuance was more than 2.5 times oversubscribed and attracted more than $2 billion in orders from over 65 investors worldwide, reflecting strong investor trust amid uncertain times.

The Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution, today announced the successful issuance of a benchmark $750 million dollar-denominated five-year bond aimed at further bolstering the Corporation’s business operations and capital and liquidity positions.

The latest and final transaction of APICORP’s $3 billion Global Medium-Term Note (GMTN) program launched in 2020, the issuance was more than 2.5 times oversubscribed, with around 57% of the more than $2 billion in orders coming from central banks, multilateral development banks (MDBs), and other sovereign, supranational and agency (SSA) investors.

The final spread was +69 basis points with a 1.26% yield, both of which are the lowest ever for an APICORP bond issuance of this type. The geographic distribution of the deal was also the most well-diversified in APICORP’s history, with 82% of the 65 investors in the transaction coming from outside the MENA region.

Dr. Ahmed Ali Attiga, APICORP’s Chief Executive Officer, commented: “We are immensely pleased with the success of our latest US dollar bond issuance. The ability for APICORP to issue in benchmark size and at historical low pricing, especially amid these challenging times in the global markets, speaks volumes of the stature of APICORP in the global debt capital markets. In further bolstering our already strong capital and liquidity positions, we can continue to forge ahead with our development mandate in supporting projects that advance the sustainable development of the energy sector, both in the region and beyond.”

Dr. Sherif Elsayed Ayoub, Chief Financial Officer of APICORP, said: “This benchmark issuance represents another important milestone for APICORP, as it allows us, in line with our long-term funding strategy, to further broaden and diversify our funding sources and deepen the relationship with our investor base. The ever-expanding range and high caliber of investors – including both regional and global central banks and official institutions – clearly reflects APICORP’s status as a leading multilateral development bank at the global level, and attests to the high-quality nature of its credit profile.”

APICORP’s strong capital adequacy, robust asset quality, and resilient asset performance as well as strong liquidity and funding positions were key factors in Moody’s affirming the Corporation’s credit rating at ‘Aa2’ and earning it an ‘AA’ rating from Fitch, both with a stable outlook, the only financial institution in MENA with these ratings.

The Global Coordinators, Joint Lead Managers and Bookrunners included Citibank, BofA Securities, Nomura, China Construction Bank (Asia), Maybank, Emirates NBD Capital, and Standard Chartered Bank. APICORP’s legal counsel on the deal was Allen &#038; Overy while the Joint Lead Managers’ legal counsel was Clifford Chance.
Distributed by APO Group on behalf of Arab Petroleum Investments Corporation (APICORP).
Media Contact: Hassan Al-Jundi APICORP Mobile: +966 55 8012942 Email: haljundi@apicorp.org
Zeeshan Masud Weber Shandwick Mobile: +971 55 918 6751 Email: zmasud@webershandwick.com
Daniel Chinoy Weber Shandwick Mobile: +971 50 255 3402 Email: dchinoy@webershandwick.com
Follow us on: Twitter: bit.ly/32ME96z Instagram: bit.ly/3lDZR3O LinkedIn: bit.ly/2IEOcnf
About APICORP: The Arab Petroleum Investments Corporation (APICORP) (www.APICORP.org) is a multilateral development financial institution established in 1975 by an international treaty between the ten Arab oil exporting countries. It aims to support and foster the development of the Arab world’s energy sector and petroleum industries. APICORP makes equity investments and provides project finance, trade finance, advisory and research. Headquartered in Dammam, Kingdom of Saudi Arabia, APICORP is rated “Aa2” by Moody’s and “AA” by Fitch, both with a stable outlook.
More information can be found at: www.APICORP.org.
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Canon Central & North Africa Partner Conference Focuses on Commitment to the Continent

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80 Percent of GCC Consumers are Willing to Live More Sustainably, Says New Boston Consulting Group Report

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Canon’s Miraisha Programme Enables Young African Story Tellers to Achieve Their Dreams

Reduction of personnel for economic reasons vs Suspension of employment contracts: Why are companies in Equatorial Guinea spending money in times of crisis? (By Pablo Mitogo)

African Development Bank President says vaccines and debt relief will be key to Africa’s recovery from COVID-19

Africa Oil & Power Technical Workshops Support Mozambique Capacity Building

Aru, Dlamini spearhead Team Qhubeka ASSOS at Tour de la Provence

Arab Petroleum Investments Corporation (APICORP)’s latest benchmark $750 million bond achieves lowest-ever spread; 2.5x oversubscribed

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