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July 2, 2026

Radisson Hotel Group launches hospitality industry-leading Artificial Intelligence (AI)-powered real-time price matching technology

Source: APO – Report:

Radisson Hotel Group (www.RadissonHotels.com) has launched a leading AI-powered real-time hotel price matching technology, redefining how travelers book direct online.

The new feature automatically detects lower publicly available rates for Radisson Hotel Group properties on third-party booking platforms and instantly matches them on RadissonHotels.com — removing the need for guests to submit claims, screenshots, or wait for manual approval. Unlike traditional best-rate guarantee programs, which require customers to identify lower rates and complete a manual claims process, price matching verifies and applies eligible lower rates automatically and in real time. The launch marks a major milestone in the Group’s digital transformation strategy, establishing a new benchmark for price transparency and easy direct booking across the hotel industry.

“Today’s travelers expect speed, simplicity and confidence when they book,” says Gianni Di Fede, Global Chief Commercial Officer at Radisson Hotel Group. “Price matching is our commitment to ensuring that guests who choose to book directly with us never have to wonder whether they could have found a better deal elsewhere. By automating the process in real time, we are making direct booking simpler and more transparent while delivering greater value to both guests and hotel partners.”

Real-time pricing

When a guest discovers a lower rate for a Radisson Hotel Group property on an online travel agency (OTA) or a search engine such as Google Hotels, the AI-powered system automatically verifies the discrepancy, and matches eligible lower publicly available rates, redirecting the user to the hotel’s website without the need for any further interaction.

The feature is live across all Radisson Hotel Group properties worldwide and currently covers rates from leading OTAs including Booking.com, Expedia, Hotels.com, Agoda, Priceline, Trip.com, Makemytrip, and several others.

Benefits for guests and hotels

For guests, price matching offers the confidence of knowing that booking direct through RadissonHotels.com always delivers the best available price, saving time and effort. For hotel teams, the fully automated process removes the administrative burden of managing price match claims manually, freeing staff to focus on delivering exceptional guest experiences. The automated model also provides greater visibility into pricing performance and customer behavior, making it easier to measure impact and optimize direct booking strategies.

Price matching forms part of Radisson Hotel Group’s broader digital innovation strategy focused on creating smarter, more seamless guest experiences through automation, AI integration, and enhanced direct booking capabilities. By replacing a legacy, reactive Best Online Rate Guarantee process with a proactive and fully automated solution, the launch reinforces the Group’s continued investment in technology that simplifies travel planning while strengthening direct relationships with guests worldwide.

Visit www.RadissonHotels.com to find out how Price Match makes booking easier and effortless.

– on behalf of Radisson Hotel Group.

Media Contact: 
Amber April, Manager
Global Corporate PR
Amber.april@radissonhotels.com

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About Radisson Hotel Group:
Radisson Hotel Group is a rapidly expanding international hotel group, operating in EMEA and APAC with more than 1,600 hotels in operation and under development in +100 countries. The Group’s overarching brand promise is Every Moment Matters with a signature Yes I Can! service ethos.

The Radisson brand portfolio includes Radisson Collection, art’otel, Radisson Blu, Radisson, Radisson RED, Radisson Individuals, Park Plaza, Park Inn by Radisson, Country Inn & Suites by Radisson, and Prize by Radisson — brought together under one commercial umbrella brand, Radisson Hotels.

Radisson Rewards (https://apo-opa.co/4oVD1WQ) is Radisson Hotel Group’s loyalty program, which delivers an elevated experience that makes Every Moment Matter, counting more than 28 million members. As the most streamlined program in the sector, members enjoy exceptional advantages and can access their benefits from day one across a wide range of hotels in Europe, Middle East, Africa, and Asia Pacific.

Radisson Meetings (https://apo-opa.co/4gT3h25) provides tailored solutions for any event or meeting, including hybrid solutions, placing guests and their needs at the heart of its offer. Radisson Meetings is built around three strong service commitments: Personal, Professional, and Memorable, while delivering on the brilliant basics and being uniquely Carbon Compensated.

At Radisson Hotel Group, we care for people, communities, and planet (https://apo-opa.co/4eLmPTm) and aim to be Net Zero by 2050 based on the approved Science Based Targets. With unique solutions such as carbon-compensated Radisson Meetings, we make sustainable hotel stays easy. To facilitate sustainable travel choices, all our hotels are becoming verified on Hotel Sustainability Basics.

The health and safety of guests and team members remain a top priority for Radisson Hotel Group. All properties across the Group’s portfolio are subject to health and safety requirements, ensuring we always care for our guests and team members.

For more information, visit our corporate website (www.RadissonHotels.com)

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July 2, 2026

Africa Finance Corporation Returns to Global Capital Markets with US$500 Million Eurobond, Achieving Record-Tight Pricing and Central Bank Participation

Source: APO – Report:

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has successfully raised US$500 million through a 5-year Reg S Only senior unsecured Eurobond, achieving the tightest pricing ever secured by the Corporation on a 5-year US dollar benchmark transaction. The issuance reached a new segment of institutional investors, with central banks, including an African one, participating in an AFC bond for the first time. This milestone speaks to AFC’s growing appeal among global reserve managers seeking high-quality investment-grade assets with strong developmental impact.

The notes were issued at a coupon of 5.375%, representing AFC’s narrowest spread over US Treasuries for a benchmark 5-year issuance and a significant improvement over the Corporation’s previous Eurobond transaction completed in 2024. The landmark outcome reflects AFC’s strong credit fundamentals, disciplined financial management, and growing recognition among global investors as a premier investment-grade issuer focused on Africa’s infrastructure and industrial development.

The issuance attracted strong demand from high-quality institutional investors across the United Kingdom, Europe, Asia, the United States and the Middle East. The order book closed approximately two times oversubscribed, underscoring sustained investor confidence in AFC’s investment-grade credit profile. The notes are rated A by S&P Global Ratings and A3 by Moody’s Ratings, in line with AFC’s long-term issuer ratings.

Samaila Zubairu, President & CEO of AFC said, “This transaction reflects the strong confidence global investors continue to place in AFC, our strategy, and our role in advancing Africa’s economic transformation. Achieving our tightest-ever pricing on a US dollar benchmark issuance demonstrates the strength of our credit profile, the consistency of our financial performance, and the trust we have built with investors over time. As we continue to scale our impact across the continent, access to efficient and diversified sources of capital remains critical to delivering the infrastructure and industrial assets that drive long-term growth and competitiveness.”

Banji Fehintola, Executive Board Member and Head of Financial Services at AFC, said, “The success of this transaction underscores AFC’s ability to consistently access international capital markets on increasingly competitive terms, even amid a dynamic global environment. The participation of an African central bank for the first time further diversifies our funding base and advances AFC’s strategy of mobilizing African institutional capital to finance the continent’s development. The exceptional quality and geographic diversity of investor participation, together with record-tight pricing, reflect strong market confidence in AFC’s disciplined funding strategy, prudent balance sheet management and proven track record of delivering transformative infrastructure across Africa.”

Issued under AFC’s US$5 billion Global Medium-Term Note Programme, the proceeds will support the Corporation’s general funding requirements and continue to strengthen its capacity to finance critical infrastructure and industrial projects across Africa. The transaction was led by Abu Dhabi Commercial Bank PJSC, First Abu Dhabi Bank PJSC, Goldman Sachs International, J.P. Morgan Securities plc, Mizuho International plc, MUFG Securities EMEA plc, Standard Chartered Bank and The Standard Bank of South Africa Limited as Joint Lead Managers.

– on behalf of Africa Finance Corporation (AFC).

Media Enquires:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile: +234 1 279 9654
Email: yewande.thorpe@africafc.org

About AFC:
AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.

Nineteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 48 member countries and has invested US$19 billion across Africa since inception.

www.AfricaFC.org

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July 2, 2026

The rhythms that broke Bashir: how Sudan’s music shaped a revolution

Source: The Conversation – Africa – By Cathy Wilcock, Research Fellow, University of Manchester

The revolution in Sudan in 2019 has been eclipsed by the war between the Sudanese Armed Forces and the Rapid Support Forces, which began in April 2023.

But the events of 2019 demand greater attention as they hold lessons for a post-war Sudan.

Music was central to the protests in 2019. The camp outside military headquarters in Khartoum, where demonstrators gathered for weeks to demand civilian rule, became known as Sudan’s largest ever arts festival.

Protesters sing along to one of the biggest anthems of the 2019 sit-in.

My research on resistance movements has led me to believe that music is not only a cosmetic accessory to protests. In Sudan, it was an integral part of the revolutionary movement that ousted the Omar al-Bashir regime. For decades, music helped cultivate anti-government sentiment and forge the networks and communities that would sustain the revolution in 2019.

I’ve explored this idea in a recent paper, drawing on interviews with protesters and musicians.

Sudanese music and resistance

Music in Sudan has historically been intertwined with popular resistance. First against colonial rulers and then – following independence in 1956 – against post-colonial despots. The patriotic anthems of the 60s and 70s expressed the sentiment that Sudan was being built by the people, not the government.

As one music fan who was a young teenager in the early 1970s said:

There were different ideas, of course, about what sounded good, but if you were making music, you were against the government, that was for sure.

One after the other, however, authoritarian regimes sought to crush all creativity – and especially music – through censorship laws and the systematic intimidation of artists.

Gigs had to be held as private events in people’s homes and even these were regularly broken up by a morality monitoring unit. Many popular musicians left for careers abroad.

But underground music scenes kept anti-government sentiment alive.

My research shows that the exodus of musicians, producers and fans under the Bashir regime did not weaken popular resistance. Instead, this displacement helped build strong transnational social networks, enabling musicians to record music outside Sudan. This was then distributed back to communities inside the borders. Later, these same social networks supported the 2019 revolution.

Throughout recent history and across various genres and scenes, music has helped the Sudanese imagine alternatives to authoritarian rule and build the relationships needed for collective action.

Given the close historical ties between resistance movements and music scenes, examining the music of the revolution provides insight into the values, identities and visions of democratic change that shaped Sudan’s revolutionary movement.

Music, gender and class

In my paper I analyse the most prominent revolution songs – collected in a shareable YouTube playlist – to explore what protesters’ choices reveal about the movement itself. The songs point to a growing openness towards gender and class.

At the 2019 protests, the revolutionaries honoured a canon of anti-oppression anthems. These included traditional Sudanese staples, hip-hop classics and contemporary pop sing-a-longs.

Not all revolutionary anthems are lyrically political, however, and there are gendered reasons for this.

In Sudan’s decades of patriarchal autocracy, speaking openly about politics through song lyrics was often far riskier for women than for men. As a result, women-led genres, such as tumtum and aghani albanat, typically centred on romance and everyday life, accompanied by handclapping and rhythms played on the doolka drum. Among highbrow creatives, these vocal and percussive genres are considered artistically subordinate to male-dominated genres. These include haqeeba, which features instrumental accompaniment on the more technically demanding oud.

However, tumtum and aghani albanat were popular with protesters in 2019. This was not because their lyrics were directly political (they were not). Rather, they represented the defiance of women who continued to create and perform music despite decades of state restrictions on women’s artistry.

Despite their lyrical playfulness and political neutrality, Sudanese society celebrated these genres in the revolution. This sends a powerful political message about a rising cultural openness towards feminine creativity, which had been inhibited by the state.

Zenig is a new Sudanese genre of music. It emerged in the early 2010s from the poor and peripheral neighbourhoods in Khartoum. It takes its rhythmic base from tumtum, and mixes this with retro keyboards, low-fi synths and improvised vocals. It is fundamentally a Khartoumian invention, and is deliberately defiant of conservative gender and class hierarchies.

Zenig contributed to the cacophony of sounds during the 2019 sit-in. One protester remembered “its fast-paced rhythmic style worked well in energising crowds”. The most likely place to hear Zenig at the sit-in was in intimate circles and small stages where friends could dance together. Before the revolution, Zenig was known in Khartoum as the music of poor outcasts.

The significance

By elevating female leadership in the music of the revolution, Sudanese revolutionaries deliberatively negotiated what an alternative ideal Sudanese society would be like; one with more empowerment for women, as both creative and political forerunners.

The inclusion of genres like Zenig at the 2019 sit-in demonstrates that Sudan’s revolution was not only about changing the regime.

For many young Sudanese, it was also an expression of yearning for broader societal change and an upending of societal power relations.

The revolution in 2019 was a unique time for openness, experimentation and future-making facilitated by music.

Music and rebuilding

The war has prevented Sudanese civilians from continuing these important social negotiations.

The resistance movement and its musicians have been displaced within Sudan and to regional hubs like Cairo (Egypt) and Nairobi (Kenya). Many have tragically lost their lives. Some have remained in Khartoum and continue to make hopeful music against the odds.

[embedded content]

Even as Sudan’s future remains uncertain, music will be surely be central in the rebuilding of civilian lives that will come.

– The rhythms that broke Bashir: how Sudan’s music shaped a revolution
– https://theconversation.com/the-rhythms-that-broke-bashir-how-sudans-music-shaped-a-revolution-284963

July 2, 2026

Ulysses in isiZulu: why an African translation of the classic Irish novel matters in today’s world

Source: The Conversation – Africa – By Tinashe Mushakavanhu, Assistant Professor, Harvard University

Every year on 16 June, readers around the world celebrate Bloomsday, the annual commemoration of Irish writer James Joyce’s landmark 1922 novel Ulysses.

The date marks the single day on which the novel unfolds: 16 June 1904, when its protagonist, Leopold Bloom, wanders through the city of Dublin. What began as a literary observance has become a global celebration of reading.

In 2026 the festivities in Johannesburg had a special South African quality to them. At the centre of the event was South African writer and translator Sandile Ngidi’s isiZulu rendering of the character Molly Bloom’s famous soliloquy, the concluding episode of Ulysses.

As a scholar of African literatures, I am interested in how literary ideas travel. My research has shown how writers from very different contexts can grapple with similar political and artistic questions. Ngidi’s translation opens up one of the most challenging works of literature to new readers.

Simon & Schuster

The isiZulu translation represents only a small portion of this vast and notoriously difficult novel. Ulysses is based on one ordinary day in the lives of three characters who live in Dublin. It uses their experiences to explore identity, memory, desire, and modern life in early 20th-century Ireland.

Since its publication, Ulysses has been formally translated into more than 40 languages, mostly within Europe. Its journey into isiZulu reminds us that literature travels most powerfully when it crosses linguistic and cultural boundaries and returns us to the urgent questions of our own time.

Translation as an act of imagination

Bridge Books, a community-centred bookshop in inner city Johannesburg, hosted the Bloomsday event, which also included readings from South African writers Ivan Vladislavić and Terry-Ann Adams.

By holding a multilingual Bloomsday celebration in parts of the city where anti-immigrant groups have been marching, the organisers underscored a simple but powerful point: the civic imagination at the heart of Joyce’s work remains relevant wherever diverse communities claim space through stories and conversation.

Ulysses is really about random and seemingly mundane interactions. Molly Bloom is one of the main characters, an opera singer who spends the day mostly in bed. Bloomsday is named after her and her husband, who is also a main character. He’s wandering the city remembering the death of their son, and stewing in the knowledge that Molly is having an affair. This is the universal drama of human life.

Molly Bloom’s monologue in a French staging of Ulysses. Sigoise/Wikimedia Commons, CC BY

Ngidi’s translation matters. It challenges assumptions about which languages are considered suitable for conveying the so-called world literature. African languages are not peripheral to global literary culture but active participants in it, capable of carrying, reshaping and reinterpreting some of the most demanding works ever written.

In fact, reading Joyce in isiZulu raises larger questions about literary inheritance. Who owns a literary classic? Joyce himself was deeply concerned with the relationship between language and power.

Writing from a colonised Ireland, he grappled with the complexities of expressing Irish experience through English, the language of imperial rule. His work repeatedly explores tensions between local identity and global influence, between inherited forms and new possibilities.

James Joyce for everyone

The concerns in Joyce’s fiction have become even more pertinent. Across many parts of the world, debates about belonging have become increasingly fraught. In both Ireland and South Africa, questions of migration, national identity and cultural inclusion have generated political tensions and, at times, hostility towards foreigners.

Joyce is often regarded as a writer for specialists and university students. His novels have a reputation for difficulty that makes them seem inaccessible. Yet events like the one in Johannesburg suggest a different story. Joyce survives because readers continue to reinvent him, finding new contexts, new languages and new communities in which his work can live.

Translation, in this sense, is more than a literary exercise. It is an act of imagination that allows readers to encounter familiar questions from a different vantage point. Rather than simply reproducing Ulysses, the translation creates a new reading experience that illuminates both Joyce’s novel and the expressive possibilities of isiZulu.

By carrying Joyce into isiZulu, Ngidi expands not only the readership of Ulysses but also the range of perspectives through which the novel can be understood.

The translation demonstrates that African languages are not simply vehicles for local experience; they are capable of engaging the most complex works of world literature while bringing new meanings to them.

– Ulysses in isiZulu: why an African translation of the classic Irish novel matters in today’s world
– https://theconversation.com/ulysses-in-isizulu-why-an-african-translation-of-the-classic-irish-novel-matters-in-todays-world-285381

July 2, 2026

Afreximbank President calls for African economic sovereignty through industrialisation, trade and domestic resource mobilisation

Source: APO

The President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank) (www.Afreximbank.com), Dr George Elombi, has said that Africa’s economic sovereignty will only be achieved when the continent industrialises at scale, processes its own resources and secures fair access to capital to finance its development priorities – on its own terms.

Speaking during a media briefing in Abuja, Nigeria, Dr Elombi said Africa could no longer rely on a development model built around extraction and export of raw materials and importing finished goods. He said the continent’s next phase of growth must be driven by value addition, manufacturing, regional trade and stronger African financial institutions capable of strong domestic capital and resource mobilization for transformation. “Africa’s sovereignty will not be secured by exporting more of what we do not process. It will be secured when we build the industries that turn African resources into African value. But industrialisation requires capital, and that capital must be accessible on terms that are fair, evidence-based and reflective of Africa’s true potential.”

Dr Elombi said Afreximbank’s mandate is focused on helping the continent make that transition – from commodity dependence to industrial capacity, from fragmented markets to integrated trade, and from external vulnerability to greater African resilience.

Directly through debt financing and indirectly through its equity vehicle, the Fund for Export Development in Africa (FEDA), and in partnership with industrial partners such as ARISE IIP, Afreximbank is facilitating the development of multipurpose industrial parks and special economic zones and dedicated towards supporting minerals processing, agro-processing, automotive, textiles and pharmaceuticals. The Bank is scaling these strategic investments with the view to build competitive manufacturing hubs and deepen regional production linkages across the continent.

Dr Elombi said that if Africa is to industrialise, the continent must also address the cost and availability of capital. Credit ratings, he noted, influence how much institutions pay to raise funding, the investors they can access and, ultimately, the cost at which they can finance trade, infrastructure and industry.

“Fair credit assessment is part of Africa’s sovereignty agenda,” he said, adding that “when African institutions are assessed properly, they can raise capital more competitively. When they raise capital more competitively, they can finance Africa’s industrial growth, and accelerate African trade and job creation.”

He said Afreximbank’s recent investment-grade rating from S&P Global Ratings, which assigned the Bank a BBB+ long-term and A-2 short-term issuer credit rating, showed the importance of assessing African institutions in their proper context. S&P’s assessment comes after Afreximbank’s strong Q1 2026 performance, with total assets and contingencies rising to US$49.4 billion, shareholders’ funds of US$8.6 billion, a capital adequacy ratio of 23% and a non-performing loan ratio of 2.40%.

Dr Elombi said rating agencies must properly recognise Afreximbank’s treaty-based structure, Preferred Creditor Status, shareholder support and central role in financing African trade. He added that shareholders’ perception of the Bank is driven by their conviction and belief in the institution they created and not just by rating perceptions. He said African multilateral institutions should be assessed on verified evidence, their real institutional structures and the development role they play across the continent. Despite a complex global environment, Afreximbank has continued to demonstrate strong investor confidence, including through successful Samurai and Panda bond issuances and a US$2 billion equivalent dual-tranche syndicated facility raised in Q1 2026 from 31 lenders across Europe, the Middle East, Asia and Africa.

Dr Elombi added that industrialisation will only deliver sovereignty if African goods can move across African markets. He said Afreximbank would continue supporting trade-enabling infrastructure, payment systems, logistics corridors and AfCFTA implementation to reduce the barriers that make it difficult for African businesses to trade with one another.

“Capital, industry and trade must work together,” he said. “Africa must finance its production, process its resources and move its goods across its own markets. That is how we create value, retain value in Africa and build sovereignty that is practical, not theoretical.” He welcomed the idea of a New African Financial Architecture (NAFA) and the urgency to build capacity to mobilise resources from the continent to support its development.

Looking ahead, Dr Elombi said Afreximbank would remain focused on financing the systems Africa needs to stand more firmly on its own foundations including industrial capacity, value addition, strategic minerals processing, trade-enabling infrastructure, digital payments, energy security and intra-African trade.

Distributed by APO Group on behalf of Afreximbank.

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

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About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A strong supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2025, Afreximbank’s total assets and contingencies stood at over US$48.5 billion, and its shareholder funds amounted to US$8.4 billion. Afreximbank has investment grade ratings assigned by China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), GCR (A), Japan Credit Rating Agency (JCR) (A-), Moody’s (Baa2) and S&P Global Ratings (BBB+). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

For more information, visit: www.Afreximbank.com

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July 2, 2026

Call for coordinated SADC action to strengthen regional economies

Source: Government of South Africa

Call for coordinated SADC action to strengthen regional economies

Amid persistent global economic uncertainty, Minister of Finance Enoch Godongwana has called on the Southern African Development Community (SADC) to position the region as a competitive producer through greater cooperation and coordinated policy action.

Speaking at the SADC Committee of Ministers of Finance and Investment meeting in Harare, Zimbabwe, Godongwana said member states should adopt coordinated and forward-looking economic and policy responses to protect their economies against global shocks.

“Importantly, this will require leveraging critical minerals to drive industrialisation, promoting food security through cooperation in agricultural production and agro-processing, deepening intra-regional trade integration, and strengthening resilient infrastructure and supply chains,” Godongwana said on Thursday.

He stressed that achieving these objectives will require sustained political leadership, stronger institutional coordination and a shift from commitments to implementation.

“In this regard, we will need to prioritise a select set of high-impact actions. Amongst these, for example, are the trade facilitation reforms, development of transport and logistics corridors, seamless transmission of digital payments, including reducing the cost of remittances across the region,” the Minister said.

Godongwana also warned that the changing global development finance landscape poses a significant risk to the region, particularly as international aid to Sub-Saharan Africa continues to decline.

“This shifting landscape calls for a structural transformation in development finance across the SADC region.

“Beyond protecting critical social sectors, there is an urgent need to pivot toward more sustainable and diversified financing models, leveraging blended finance, public-private partnerships (PPPs), and deeper private sector participation to offset declining donor flows,” he said.

According to the Minister, initial estimates by the International Monetary Fund (IMF) suggest bilateral aid could contract by between 16% and 28% from 2025.

“These cuts are donor-driven and broad-based in scope and not a reflection of individual country performance. Unlike previous downturns, the current reductions are large and highly unpredictable, representing a systemic and potentially lasting shock rather than a temporary disruption.

“The poorest and most fragile countries will be disproportionately affected,” the Minister said. –SAnews.gov.za

nosihle
Thu, 07/02/2026 – 15:01

July 2, 2026

Government condemns false information on death of a Ghanaian national

Source: Government of South Africa

Government condemns false information on death of a Ghanaian national

Minister of Justice and Constitutional Development and chair of the Inter-Ministerial Committee (IMC) on Migration, Mmamoloko Kubayi, has strongly rejected as “factually incorrect” any link between anti-irregular migration demonstrations held earlier this week and the fatal shooting of a Ghanaian national in the Western Cape.

This follows an official communication issued by Ghana’s Ministry of Foreign Affairs claiming that one of its citizens was killed on Monday during public demonstrations.

However, police reports indicate that the man was killed on Monday — a day before the demonstrations — in circumstances related to extortion.

“It is concerning that Ghanaian authorities continue to communicate false information about South Africa regarding developments on irregular migration.

“The fact of the matter is that no fatalities have been recorded during the day of these demonstrations and isolated incidents of criminality that occurred on the day have been acted upon by the law enforcement authorities,” Kubayi said.

Kubayi urged that diplomatic matters and concerns be addressed through established channels.
“We regret all loss of life on our shores, and we would like to send our heartfelt condolences to the family of the deceased and assure them that our law enforcement authorities will investigate this matter and bring the perpetrators to book,” the Minister said.

The IMC emphasised that the “spread of false information to perpetuate the false narrative that South Africa is xenophobic is unacceptable”. – SAnews.gov.za

NeoB
Thu, 07/02/2026 – 14:58

July 2, 2026

Islamic Corporation for the Development of the Private Sector (ICD) Mobilizes Private Sector Funding for USD 60 Million Shariah-compliant Syndicated Financing Facility for Asakabank

Source: APO – Report:

ICD, acting as Mandated Lead Arranger and Bookrunner, has structured and closed a USD 60 million Shariah-compliant Syndicated Financing Facility for Joint Stock Company “Asakabank” (“Asakabank”) of Uzbekistan, with an accordion feature to increase the facility size.
The facility is structured in multiple tranches with different tenors, providing Asakabank with flexible, long-term access to Islamic financing.
Boubyan Bank K.S.C.P. the Kuwaiti financial institution, participated as Joint-Lead Arranger. The transaction was further supported by the Islamic Corporation for the Insurance of Investment and Export Credit (“ICIEC”) through the provision of credit enhancement for participant (s).

The Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-PS.org), a multilateral development financial institution and the private sector arm of the Islamic Development Bank (IsDB) Group, is pleased to announce the successful closure of USD 60 million Shariah-compliant Syndicated Financing Facility for Joint Stock Company “Asakabank” (“Asakabank”), with an accordion feature to increase the facility size. This strategic collaboration is intended partnership between the two institutions aims to support the growth of private sector businesses in Uzbekistan by offering Shariah compliant financing, in addition to the general corporate requirements of Asakabank.

The syndicated financing facility was structured and led by ICD, acting as Mandated Lead Arranger, Bookrunner and Investment Agent. Boubyan Bank K.S.C.P. participated as Joint-Lead Arranger. The transaction was further supported by the Islamic Corporation for the Insurance of Investment and Export Credit (“ICIEC”) through the provision of credit enhancement for the participant (s). The participation of Boubyan Bank K.S.C.P, as the sole Kuwaiti financial institution in the syndication, demonstrates its continued commitment to innovative Shariah-compliant financing structures and regional private sector development. Its participation highlights the growing appetite among Islamic financial institutions for structured syndication opportunities supported by robust risk mitigation solutions.

The ICD remains committed to developing Shariah compliant financial channels in member countries to promote Islamic finance. This facility demonstrates the strong relationship of ICD, with other leading Islamic Financial Institutions in its ongoing efforts to mobilize resources in support of sustainable development of the private sector across its member countries.

Dr. Khalid Khalafalla, Acting CEO of ICD, stated “I am glad to announce this landmark financing facility, which is designed to promote the private sector projects in the Republic of Uzbekistan and to advance financing in full compliance with Shariah principles. This transaction also reflects ICD’s strong focus on mobilizing private sector resources, where for every dollar deployed by ICD, we have successfully mobilized an equivalent dollar from partner institution. Through this initiative, we aim to empower private sector projects, particularly corporates and SMEs, those having meaningful developmental impact on the economy of Uzbekistan.”

Mr. Surat Utkurovich Zakirov, Acting Chairman of the Board of Asakabank also stated “Asakabank is a rapidly growing full-service bank offering a wide range of products and solutions for both retail and corporate customers. With the recent introduction of Islamic banking legislation in Uzbekistan, we consider ICD as a strategic partner in Sharia-compliant financing for private sector and look forward to continuing our cooperation in the future”.

– on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

Media Contact:
Islamic Corporation for the Development of the Private Sector (ICD)
Nabil Al-Alami
Division Manager, Communication & Corporate Marketing, ICD
Email: nalami@isdb.org

Joint Stock Company “Asakabank” (Asakabank)
Azizkhon Anvarkhonov
Head of Press Center
Email: Azizxon_A@asakabank.uz

Joint Stock Company “Asakabank” (Asakabank):
Founded in 1995, Joint Stock Company “Asakabank” (Asakabank) is one of Uzbekistan’s leading commercial banks, serving a wide range of corporate and individual clients. With an extensive branch network across the country, Asakabank provides comprehensive banking services focused on supporting industrial, infrastructure, and private sector development. The bank is recognized for its innovative approach to financial products and its commitment to facilitating economic growth and entrepreneurship in Uzbekistan. Asakabank actively invests in digital transformation and sustainable finance, striving to deliver high-quality, customer-oriented solutions that contribute to the nation’s overall economic progress.

About the Islamic Corporation for the Development of the Private Sector (ICD):
The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development financial institution that supports the economic development of its member countries. ICD is a member of the Islamic Development Bank (IsDB) Group with an authorized capital of $4 billion, ICD’s shareholders include the IsDB, 56 member countries, and five public financial institutions. ICD’s mandate is to promote the economic development of its member countries by financing and encouraging the establishment, expansion and modernization of private sector enterprises and projects in its member countries, promoting competition and entrepreneurship, and encouraging cross-border investments. The ICD is currently rated ‘A2’ by Moody’s, ‘A+’ by Fitch, and ‘A’ by S&P. For More information on ICD visit: www.ICD-PS.org

Media files

July 2, 2026

Well wishes for Proteas Women

Source: Government of South Africa

Well wishes for Proteas Women

Government has wished the Women’s T20 cricket team well as they take on England in the semi-final of the ICC Women’s T20 World Cup today at 3pm.

“The Proteas Women have made the nation proud with their outstanding performances throughout the tournament and have inspired South Africans with their determination, resilience and fighting spirit,” the Government Communication and Information System (GCIS) said on Thursday.

Government has called on all South Africans to get behind the team by wearing their Proteas jerseys or South African colours, proudly flying the national flag and cheering them on as one united nation.

“Today presents another opportunity for South Africans to stand together in support of a team carrying the hopes and pride of the nation. Government wishes the Proteas Women every success and looks forward to another memorable performance as they pursue a place in the ICC Women’s T20 World Cup final,” Acting Government Spokesperson Nomonde Mnukwa said. –SAnews.gov.za

Neo
Thu, 07/02/2026 – 13:26

July 2, 2026

Government conveys condolences following crash that claimed 16 lives

Source: Government of South Africa

Government conveys condolences following crash that claimed 16 lives

The Minister of Transport, Barbara Creecy, and Deputy Minister Mkhuleko Hlengwa have expressed their condolences to the bereaved families who lost their loved ones in a bus crash that claimed 16 lives.

The crash occurred in the early hours of Thursday on the N1 near Gulfstream Garage in the Western Cape.

According to reports, the bus was transporting 78 passengers, including children, from Cape Town to Idutywa in the Eastern Cape.

It is alleged that the bus overturned, resulting in 16 fatalities and leaving 20 occupants injured. The injured were transported to Worcester Hospital, while 43 occupants refused medical treatment.

Creecy and Hlengwa have wished a speedy recovery to all those who sustained injuries.

They have also directed the Road Accident Fund (RAF) to provide the bereaved families and the injured with the necessary support.

In addition, Creecy and Hlengwa have instructed the Road Traffic Management Corporation (RTMC) to investigate the cause of the crash in collaboration with local authorities.

A preliminary investigation report is expected within 48 hours after the RTMC begins its investigation. –SAnews.gov.za

nosihle
Thu, 07/02/2026 – 12:46