Category: English

Source: APO

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The Credit Fund of the AfCFTA Adjustment Fund has successfully closed its first investment, committing US$10 million to Telecel Global Services Ltd, through a senior secured amortising loan. The transaction marks a significant milestone in the operationalisation of the Fund.

The Credit Fund is one of three Funds under the AfCFTA Adjustment Fund, established by the AfCFTA Secretariat and African Export-Import Bank (Afreximbank) to provide targeted  transitional support to AfCFTA State Parties  and private sector entities as they adjust to the requirements and opportunities presented by the AfCFTA Agreement.

Telecel Global Services, a subsidiary of the Mauritius-based Telecel Group, provides wholesale voice and SMS services and enterprise connectivity solutions to more than 250 telecom operators across Africa and globally. With digital connectivity being at the heart of the trade and economic integration and success of the AfCFTA, this facility will support Telecel’s expansion in Ghana and Liberia, strengthen its infrastructure, and contribute to bridging Africa’s digital divide through enhanced connectivity and digital inclusion. By investing in digital infrastructure in underserved markets, the Fund is helping reduce trade barriers, foster cross-boarder productivity and accelerate  inclusive industrialisation.

Mr. Jean-Louis Ekra, Chairman of the Board of the AfCFTA Adjustment Fund Corporation, stated: “ The closing of our first deal marks a historic milestone for the Credit Fund and the broader vision of the AfCFTA. This US$10 million investment in Telecel Global Services is a clear demonstration of how targeted capital can drive meaningful impact—accelerating digital connectivity, enabling intra-African trade, and supporting private sector-led development in priority sectors. It is our commitment to ensure that such investments continue to bridge critical gaps, stimulate economic resilience, and unlock Africa’s vast potential.”

H.E. Wamkele Mene, Secretary-General of the AfCFTA Secretariat, noted: “This transaction demonstrates how the AfCFTA Adjustment Fund is beginning to serve its intended purpose – supporting State Parties and the private sector as we work to make this Agreement commercially meaningful. By investing in digital infrastructure, we are addressing some of the most critical enablers of trade facilitation, industrialisation, and regional value chain development.”

Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, added: “Today, we make another bold statement of our unwavering intent to ensure that Africans reap the benefits of the African Continental Free Trade Agreement. We are proud to have commenced the operationalisation of the Credit Fund. With this Fund, we will provide vital support to African corporates, helping them retool and expand their operations necessary to capitalise on the AfCFTA opportunities. The investment strengthens a critical enabler, the digital economy and regional connectivity, while reinforcing our long-term commitment to transforming the structure of the African economy. .”

Marlene Ngoyi, CEO, FEDA, the Fund Manager of the AfCFTA Adjustment Fund, said: “This investment exemplifies the strategic intent of the Credit Fund – to catalyse growth and resilience in sectors that are vital for Africa’s structural transformation. We are proud to partner with Telecel, whose operations directly advance intra-African connectivity and digital trade.”

The Credit Fund will continue to prioritise commercially viable investments that enable trade, support diversification, and promote inclusive growth in line with the broader AfCFTA implementation agenda.

Distributed by APO Group on behalf of Afreximbank.

About the AfCFTA Adjustment Fund:
The AfCFTA Adjustment Fund consists of three sub-Funds namely, the Base Fund, the General Fund, and the Credit Fund. The Base Fund will utilise contributions from AfCFTA State Parties as well as grants and technical assistance to address tariff revenue losses that would result from the implementation of the AfCFTA Agreement. The General Fund will finance the development of trade enabling infrastructure while the Credit Fund will be used to mobilise commercial funding to support both the public and private sectors enabling them to adjust and take advantage of the opportunities created by the AfCFTA.

 About the African Continental Free Trade Area (AfCFTA):
The African Continental Free Trade Area (AfCFTA) is one of the flagship projects of Agenda 2063: “The Africa We Want” and entered into force on 30 May 2019. It is a high ambition trade Agreement, which aims to bring together all 55 Member States of the African Union, covering a market of more than 1.3 billion people, with a comprehensive scope that includes critical areas of Africa’s economy, such as digital trade and investment protection, amongst other areas. By eliminating barriers to trade in Africa, the objective of the AfCFTA is to significantly boost intra-Africa trade, particularly trade in value-added production and trade across all services sectors of Africa’s economy, at a potential of 52.3 percent.

About FEDA:
The Fund for Export Development in Africa (“FEDA”) is the impacting investing subsidiary of Afreximbank, set up to provide equity, quasi-equity, and debt capital to finance the multi-billion-dollar funding gap (particularly in equity) needed to transform the Trade sector in Africa.

FEDA pursues a multi-sector investment strategy along the intra-African trade, value-added export development, and manufacturing value chain which includes financial services, technology, consumer and retail goods, manufacturing, transport & logistics, agribusiness, as well as ancillary trade enabling infrastructure such as industrial parks.

Source: APO

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As Africa moves to fully harness its coal and uranium resources for economic growth, major shifts in the global financing landscape in 2025 are set to unlock new opportunities across the continent. In June, international finance institution The World Bank lifted its ban on financing nuclear projects – marking its re-entry into the nuclear value chain for the first time since 1965. In May, the U.S. export agency the Export-Import Bank of the United States (EXIM) ended its 12-year restriction on funding international coal projects.

Coal, uranium and investment market trends will take center stage at the upcoming African Mining Week (AMW) 2025 – Africa’s premier gathering for mining stakeholders – taking place on October 1 – 3 in Cape Town. The event will feature high-level panel discussions, project showcases and exclusive networking sessions, showcasing how global capital and African leadership are aligning to unlock the potential of coal and uranium value chains for sustainable development.

Africa’s coal sector has seen notable progress in 2025. In March, South Africa’s Seriti Resources launched the R500 million Naudesbank Colliery in Mpumalanga Province, producing one million tons annually in its first phase. The launch reinforces South Africa’s role as the continent’s leading coal producer. Concurrently, mining company Menar is advancing several coal and anthracite projects with a R7 billion investment plan through 2026, including the Bekezela and Sukuma mines in South Africa’s Gauteng province. The initiatives align with South Africa’s decision to classify coal as a critical mineral due to its economic and strategic importance. Ethiopia is also ramping up exploration, with coal reserves now estimated to exceed one billion tons. At AMW, a panel titled Coal’s Indispensable Role: Powering Africa’s Downstream Processing and Manufacturing Boom will showcase policies and incentives being used by African markets to attract investments across the coal value chain.

On the uranium front, the World Bank’s ban reversal offers renewed access to international financing – creating a pathway for expansion in Africa’s uranium-rich countries. Several projects have gained momentum in 2025. Lotus Resources is progressing with its 3-million-pound-per-year Letlhakane Uranium Project in Botswana, as well as the Kayelekera Mine in Malawi. In Tanzania, Moab Minerals secured a $500,000 investment from European Lithium for its Manyoni Uranium Project. Meanwhile, GoviEx Uranium is advancing development of its Muntanga Project in Zambia, with an expected annual output of 2.2 million pounds. Additionally, countries including Namibia, Mali, Ghana, Senegal, the Republic of Congo and Kenya have signed agreements to develop nuclear energy programs, underlining Africa’s growing focus to leverage its vast uranium resources for energy resilience. The continent’s biggest uranium producers Niger and Namibia also have several new and expansion projects underway.

These milestones represent a new era of investment potential across Africa’s coal and uranium industries, with African Mining Week 2025 serving as a key platform for governments, investors and industry stakeholders to collaborate and catalyze long-term growth.

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

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

Source: APO

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The parliamentary leadership of Sierra Leone’s two main political parties, the ruling Sierra Leone People’s Party (SLPP) and the opposition All People’s Congress (APC), paid a joint courtesy call on His Excellency President Dr Julius Maada Bio at State House to formally congratulate him on his recent election as Chairman of the ECOWAS Authority of Heads of State and Government.

The visitors were introduced by Chief Minister Dr David Moinina Sengeh, who explained that the Members of Parliament had come to express their appreciation for the President’s efforts in elevating Sierra Leone’s image on the international stage through his new leadership role in the sub-regional body.

Hon. Matthew Sahr Nyuma, Majority Leader and Leader of Government Business in Parliament, thanked President Bio for granting the audience. He disclosed that the joint visit followed internal consultations between SLPP and APC parliamentary leadership, who unanimously agreed to formally congratulate the President on his election.

Hon. Nyuma underscored the collaborative relationship between the Executive and the Legislature and appealed for more regular engagements with the President, not only on constitutional grounds, but also in recognition of the strong working relationship that currently exists between Parliament and the Executive.

Speaking on behalf of the opposition APC, Hon. Abdul Kargbo congratulated President Bio for the international recognition and praised him for entrusting leadership roles to young people. “We are proud as a nation of your achievement. As Members of Parliament, we recognise our roles, but we remain open and committed to the development of Sierra Leone,” he said.

He noted that all government bills that have been tabled in Parliament and were in the national interest have been passed expeditiously. He attributed this to teamwork, political maturity, and shared patriotism, which have contributed to a relatively calm and productive parliamentary environment.

In his response, President Julius Maada Bio thanked the SLPP and APC parliamentary leadership for their gesture, describing it as a demonstration of patriotism, unity, and national solidarity. “Your coming together, across party lines, to congratulate me on my ECOWAS leadership shows maturity and a common commitment to Sierra Leone,” he remarked.

President Bio reiterated that his successes were not personal achievements but national victories. “What we’ve accomplished is not about me, it is about Sierra Leone. These milestones reflect the work we are all doing together,” he said.

He expressed appreciation for the oversight role played by the opposition, acknowledging that constructive criticism helps sharpen governance and reinforces the democratic process. “Your critical voice in Parliament keeps us accountable, especially on national development, peace, and cohesion.”

President Bio encouraged Members of Parliament to continue leveraging their collective strength to advance national development. “We are smart people. With diverse views from different political parties, we can take bold, effective decisions to keep development at the center of our national agenda.”

He called for a readjustment of political ideologies towards cooperation and mutual respect, citing the importance of reducing political tension and promoting development-focused dialogue. The President proposed a national dialogue to define a long-term development agenda that every future administration would prioritize for the country’s benefit.

President Bio concluded by expressing gratitude for the visit and the congratulatory message from the Parliament.

Distributed by APO Group on behalf of State House Sierra Leone.

Source: APO

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President Cyril Ramaphosa has noted the correspondence from President Donald Trump on the unilateral imposition of a 30% trade tariff against South Africa. The President has further noted that South Africa is one of a number of countries to have received this communication on 7 July 2025. 

This 30% tariff is based on a particular interpretation of the balance of trade between South Africa and the United States. This contested interpretation forms part of the issues under consideration by the negotiating teams from South Africa and the United States. Accordingly, South Africa maintains that the 30% reciprocal tariff is not an accurate representation of available trade data. In our interpretation of the available trade data,  the average tariff imported goods entering South Africa stands at 7.6%. Importantly, 56% of goods enter South Africa at 0% most favoured nation tariff, with 77% of US goods entering the South African market under the 0% duty.

South Africa will continue with its diplomatic efforts towards a more balanced and mutually beneficial trade relationship with the United States. We welcome the commitment by the US government, that the 30% tariff is subject to modification at the back of the conclusion of our negotiations with the United States. 

South Africa has continued to engage the United States, most recently at a meeting held on the side-lines of the US-Africa Summit on 23 June 2025 in Luanda. It was at this meeting where South Africa learned of  a template with which the US wishes to engage sub-Saharan Africa on matters of trade. The South African negotiating team still awaits this template, however, President Ramaphosa has instructed the team urgently engage with the US on the basis of the Framework Deal that South Africa submitted to the US on 20 May 2025. This Framework deal addresses the issues initially raised by the US, including South Africa’s supposed trade surplus, unfair trade practices and lack of reciprocity from the US.

The President urges government trade negotiations teams and South African companies to accelerate their diversification efforts in order to promote better resilience in both global supply chains and the South African economy.

Distributed by APO Group on behalf of The Presidency of the Republic of South Africa.

Source: APO

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Guinean authorities must urgently reveal the fate and whereabouts of National Front for the Defence of the Constitution (Front national de défense de la Constitution – FNDC) activists Oumar Sylla and Mamadou Billo Bah, who were forcibly disappeared a year ago, and ensure that those suspected to be responsible for the abductions and enforced disappearances in Guinea are brought to justice in fair trial and victims and family members of victims are provided with access to justice and effective remedies, said 25 Guinean and international human rights organizations.

“We call on the Guinean authorities to break their unbearable silence regarding the fate of the two FNDC activists. There is no indication that they have carried out investigations to find the two activists who have been missing for a year,” the human rights organizations said today.

Mamadou Billo Bah and Oumar Sylla, known as Foniké Menguè, were arrested on 9 July 2024 at the latter’s home in Conakry by armed men, before allegedly being taken by special forces to the Loos archipelago. They were interrogated and tortured, according to a third member of FNDC who was abducted with the two others and released the day after. The authorities have denied holding them and their fate remains unknown to this day.

The FNDC, a civil society movement calling for a return to civilian rule, was disbanded in 2022. Oumar Sylla, its national coordinator had called for demonstrations on 11 July 2024 against, among other things, repression of the media and the high cost of living.

Since the Prosecutor General’s announcement on 17 July 2024 of the opening of ‘thorough and complete’ investigations into several abductions, including those of Oumar Sylla and Mamadou Billo Bah, no information has been made public about their progress.

Multiplication of cases of abductions and disappearances

Journalist Habib Marouane Camara, managing director of Le Révélateur news website, was abducted in Lambanyi, a commune of Conakry, on 3 December 2024 by men in uniform, according to witnesses. On 6 December 2024, the Dixinn public prosecutor’s office declared that the ‘arrest was carried out without orders from the constituted authorities and outside the cases provided for by law’, announcing that an investigation was underway. To date, there has been no news of the journalist’s whereabouts.

“Since these announcements, no information has been made public by the authorities. We call on them to shed full light on the cases of abductions and disappearances in the country by conducting prompt, independent, and transparent investigations into these cases. We also call on the authorities to ratify without reservation the International Convention for the Protection of All Persons from Enforced Disappearance,” said the human rights organizations.

In addition to these cases, there have been abductions followed by acts of torture on individuals known for their critical views. On 19 February 2025, the national coordinator of the Forum of Social Forces of Guinea (Forum des forces sociales de Guinée), Abdoul Sacko, was abducted and found the same day, according to his lawyers ‘in a critical state, tortured and abandoned by his abductors in the bush’.

Lawyer Mohamed Traoré suffered the same fate in June 2025. The former President of the Guinean Bar Association has testified that he was ‘subjected to abuse’ after being abducted from his home on the night of 20 to 21 June by armed men. The Bar Association reported that he had been found ‘with his back covered in wounds’. On 23 June, the public prosecutor again announced the opening of an ‘in-depth investigation into the facts’.

‘A climate of terror’

Following the abduction of Abdoul Sacko, the Bar Association denounced ‘the climate of terror that is gradually taking hold and […] the total lack of reaction from the judicial authorities’.

Our organizations spoke to lawyers and political actors who say they have been threatened.

A leader of an opposition party has been in hiding for several months, after receiving threats by phone and after people in plain clothes went to his home in his absence, making threats. Another politician said that he frequently changed his residence and route after receiving threats.

A lawyer said: ‘Since I started defending certain people critical of the government, I have received at least four calls confirming that I am on the list of people whose abduction is planned’.

A human rights defender said he had been alerted after his statements denouncing the abduction of Mohamed Traoré: “I have received two calls from people I know in the judicial system urging me to leave my home because I would be next on the list according to their information. I take this very seriously, I make sure I’m never alone”.

“We call on the Guinean authorities to respect their international human rights obligations to respect, protect, promote and fulfil the human rights of everyone in the country, as they have undertaken to do before the United Nations Human Rights Council in April 2025 during the Universal Periodic Review, in particular the rights to freedom of expression and peaceful assembly and the rights of human rights defenders,” said the Guinean and international human rights organizations.

Signatories

• Action pour des Personnes Vulnérables (APV)
• Alliance des Femmes Leaders pour la Parité en Guinée (AFLPAG)
• Alliances des Médias pour les Droits Humains en Guinée (AMDH)
• Amnesty International
• Assistance Justice Aux Droits des Enfants et Femmes (AJDEF)
• Association des Blogueurs de Guinée (ABLOGUI)
• Association des Victimes, Parents et Amis des évènements du 28 septembre 2009 (AVIPA)
• Avocats Sans Frontières Guinée (ASF Guinée)
• Centre Africain de Formation et d’Information sur les Droits de l’Homme et de l’Environnement (CAFIDHE)
• Conseil Consultatif des Enfants et Jeunes de Guinée (CCEJG)
• Coalition des ONG de protection et de promotion des Droits de l’Enfant, Lutte contre la Traite  (COLTE/CDE)
• Convention Guinéenne des Droits de l’Homme (COGUIDH)
• Convergence des Jeunes Leaders pour la Paix et la Démocratie (COJELPAID)
• Coordination des Jeunes Cadres Volontaires pour le Futur (CJCVF)
• Fédération Guinéenne pour la Promotion des Associations des Personnes Handicapées (FEGUIPAH)
• Fédération internationale pour les droits humains (FIDH), dans le cadre de l’Observatoire pour la protection des défenseur.es des droits humains
• Forum Civil Guinéen
• Jeune Action pour la Santé et le Développement (JASD)
• Leadership Jeunes pour la Paix et le Développement en Afrique (LEJEPAD)
• Organisation Guinéenne de Défense des Droits de l’Homme et du citoyen (OGDH)
• Organisation mondiale contre la torture (OMCT), dans le cadre de l’Observatoire pour la protection des défenseur.es des droits humains
• Organisation Secours aux Handicapés de Guinée (OSH Guinée)
• Union pour le Bien-Être des Personnes Atteintes d’Albinisme (UBPAAG)
• Women of Africa (WAFRICA Guinée)
• Women Hope Guinée (WHP)

Distributed by APO Group on behalf of Amnesty International.

Source: APO

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A General Court Martial, supported by the South Sudan People’s Defense Forces, concluded in Wau, Western Bahr el Ghazal, on 5 July. It was preceded by two investigation missions to Wau and Jur River counties where 34 pending cases were reviewed.

Subsequently, the military court adjudicated 20 criminal cases, convicting nine members of the SSPDF, stripping them of their ranks and dismissing them from military service.

Notably, the General Court Martial delivered verdicts on two cases related to sexual and gender-based violence, resulting in convictions of seven and 10 years, respectively. Additionally, a conflict related sexual violence case involving multiple assailants and an underage victim was adjudicated, a first of its kind for such military court martials in South Sudan.

The highest-ranking member of the SSPDF convicted was a Lieutenant Colonel, for the loss of a weapon. Two civilians in detention were released from military custody since they do not fall within the jurisdiction of a military court, while another civilian on trial for killing two SSPDF soldiers was sentenced to two years imprisonment and ordered to pay 62 heads of cattle or a monetary equivalent as blood compensation to the victims’ families. 

The Court also heard six  cases involving conflict related crimes committed during clashes in February 2025 in Kwajiena village, Jur River county. A lack of identification of assailants by victims, despite strong testimonies, did not lead to prosecutorial action in this regard. However, the hearing resulted in a directive to the state government to award financial compensation to all victims in accordance with South Sudan’s civil procedure code.

The General Court Martial team included two female judge-advocates to ensure that both female and male victims and witnesses were supported during the process. All victims also had access to two civilian victims’ counsel, who provided free legal advice and actively participated in the proceedings to protect victim rights and help them navigate the justice process. 

This military court was followed by a civil-military dialogue in Wau with a focus on joint efforts to combat sexual violence. The aim was to strengthen trust between uniformed personnel and communities, as well as obtain real time feedback on the impact of such military justice interventions on host populations.

The Wau General Court Martial was funded by the generous support of the Royal Norwegian Embassy in Juba. In particular, it builds on the work of similar military proceedings that took place in Wau in  2022, which resulted in convictions of eight members of the SSPDF for murder. The convicted soldiers were stripped of their ranks and dismissed from the SSPDF.

As part of its ongoing efforts to strengthen justice mechanisms and rule of law processes, the United Nations Mission in South Sudan (UNMISS) also provided funding for victims and witnesses to receive psychosocial support before, during, and after trial.

Distributed by APO Group on behalf of United Nations Mission in South Sudan (UNMISS).

Source: APO

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President John Dramani Mahama has bid farewell to the outgoing German Ambassador to Ghana, Daniel Krull, during a meeting at the Credentials Hall within the Presidency. The courtesy visit marked the conclusion of Ambassador Krull’s four-year term of duty, which President Mahama described as highly productive.

President Mahama reiterated Ghana’s commitment to building on the strong foundation of bilateral relations between the two countries. He emphasised the potential for deepened cooperation, particularly in the critical areas of economic development and security.

The President specifically commended Germany for its consistent support towards enhancing Ghana’s security architecture, citing significant contributions to the Kofi Annan International Peacekeeping Training Centre (KAIPTC) and capacity-building initiatives for security personnel.

Addressing the evolving security landscape in the sub-region, President Mahama highlighted the growing threat posed by extreme terrorism, especially prevalent in the Sahel. He expressed Ghana’s readiness to work closely with Germany on targeted capacity training programmes aimed at bolstering regional efforts to combat this menace.

Touching upon the complex issue of irregular migration, President Mahama outlined Ghana’s collaborative efforts with international partners, including the International Organisation for Migration (IOM) and the European Union (EU). He stressed the importance of creating sustainable local opportunities for young people to mitigate the risks associated with perilous journeys across the Sahara and the Mediterranean.

President Mahama conveyed Ghana’s deep appreciation for Ambassador Krul’s service. “We appreciate you. You’re a friend of Ghana. And you’re welcome to visit any time you miss Ghana. You’re welcome to visit. And I wish you all the best in your future endeavours.”

Distributed by APO Group on behalf of The Presidency, Republic of Ghana.

Source: APO

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Kholo Capital Mezzanine Debt Fund I (“Kholo Capital”) (www.KholoCapital.com) announced today the injection of a R200 million mezzanine debt growth funding facility into Bayport Securitisation (“Bayport South Africa” or “Bayport SA”) to support the roll out of the Bayport SA Financial Wellness Solutions Programme. Bayport SA is committed to alleviating employee over-indebtedness in South Africa and promoting long-term financial wellness of employees. This is achieved by offering them with practical debt solutions, which include debt reduction through negotiating settlement terms and discounts with creditors, halting legal action where possible, and improving employees’ credit scores, through its financial wellness solutions programme.

Through the Bayport SA Financial Wellness Programme, Bayport SA addresses the widespread issue of over-indebtedness among South African employees. By providing tailored debt reductions (wherein the benefit of all settlement discounts negotiated with creditors is passed to the employees), debt consolidation and rehabilitation solutions, Bayport enables employees to regain financial stability and improve their long-term financial standing. The programme includes structured debt management processes and financial literacy initiatives, ensuring that employees not only reduce their debt obligations and debt repayments resulting in financial breathing room but also develop healthier long-term financial habits.

Recent market data indicates that more than 60% of employed individuals in South Africa are struggling with over-indebtedness, while less than 14% of the South African population can afford to retire. Alarmingly, an average of 74% of income is spent on debt repayments, with 49% of all consumers falling more than one month behind on at least one loan. These findings highlight a critical socioeconomic issue that not only affects individual well-being and family units, but also impacts workplace productivity, stability, and staff morale.

As a vital component of its initiative, Bayport SA offers employees, through partnerships with employers, a structured 10-week financial wellness journey aimed at providing both immediate relief and fostering long-term behavioural change. Employees can expect significant improvements in monthly cash flow (i.e., including significant debt reduction), enhanced expense management, and the ability to effectively plan for future financial milestones. The program includes personal financial health assessments, individualized coaching, and practical exercises to build sustainable financial habits. Additionally, employees engage in peer-led group sessions that promote accountability and support the development of effective money management practices.

To further amplify the financial wellness program’s impact, Bayport SA supplies a range of digital tools and support services. These include a gamified financial wellness app that facilitates goal tracking and provides access to educational resources, along with one-on-one sessions with personal money coaches throughout the journey. The Bayport SA Academy offers online financial education and workshops to enhance financial literacy, while structured emergency credit facilities provide responsible short-term relief as an alternative to high-cost payday loans.

Bayport SA is currently in partnership with more 70 employers across various industries in South Africa, including blue-chip corporations in FMCG, financial services, telecommunications, automotive, and mining sectors, as well as government entities at local, provincial, and national levels.

Mokgome Mogoba, Managing Partner and Founder at Kholo Capital, remarked: “The positive ESG and social impact on the South African society by Bayport SA is substantial as the company provides significant debt relief to over-indebted employees. We are very passionate about financial inclusion and this investment achieves that. Bayport SA’s intervention in the South African economy is significant and measurable. Settlement discounts negotiated with creditors on behalf of employees can range between 25% and 80% of the total debt amount outstanding. The average increase in monthly disposable income is R7,450, representing 32.8% of the average basic salary of R22,865. This increase in financial flexibility is directly correlated with a substantial reduction in the total debt amount outstanding and reduction in monthly debt repayment obligations.”                                                                                                                        

Zaheer Cassim, Managing Partner and Founder at Kholo Capital, asserted: “Bayport SA’s securitization program, is one of the best in South Africa. There has never been any payment defaults or covenant breaches, even during the challenging period of the COVID-19 pandemic. The securitization program is supported by leading South African institutional investors and South African banks. Bayport SA is also highly regarded for its first-class management team, transparent reporting practices and strong management engagement, with regular investor reporting and quarterly meetings with investors. The business is supported by strong shareholders of reference which include the Public Investment Corporation (PIC). We are very pleased with this investment in Bayport SA, and we look forward to supporting this highly talented and highly motivated management team in their vision to grow the business, by providing financial wellness solutions to the South African people.”

Alfred Ramosedi, Chief Executive Officer of Bayport SA, commented: “We are proud to partner with Kholo Capital, whose commitment to impact investing aligns seamlessly with our mission to drive meaningful financial change. As one of South Africa’s leading financial wellness companies, this funding will enable us to scale our reach and deepen our impact – empowering even more South Africans with the tools and support to break free from debt and build financially resilient futures.”

Norton Rose Fulbright acted as legal counsel to Kholo Capital and Werksmans acted as legal counsel for Bayport SA.

Distributed by APO Group on behalf of Kholo Capital.

Notes to Editors

About R1,4 billion Kholo Capital Mezzanine Debt Fund I

Please keep Kholo Capital Mezzanine Debt in mind whenever equity funding is needed, we can plug some of the equity funding gap with mezzanine debt loan funding (subordinated loans) so that shareholders don’t give up too much equity and don’t suffer too much equity dilution.

The R1,4bn Kholo Capital Mezzanine Debt Fund provides mezzanine debt funding R70m to R205m to medium sized businesses generating minimum R25m EBITDA per annum. We can invest in all sectors including real estate (but excluding primary mining, resources, commodities, primary farming, micro lending, gambling, ammunition, hard liquor and tobacco). However, we can invest in mining services/products, mining logistics/transportation, mineral processing, and Agri-processing.

We provide growth capital and acquisition funding to mid-market companies with operations in South Africa, Botswana, Namibia, Swaziland, or Lesotho. Investment tenor 4 to 7yrs targeting returns above 17% (interest rate plus equity upside). Leverage up to 3,5x to 4x Total Debt (senior debt and mezzanine debt) to EBITDA and/or up to 80% LTV.

Kholo Capital is passionate about investing in sectors of the Southern African economy with high social impact including financial inclusion, affordable housing, healthcare, education, renewable energy, food security, ICT, and infrastructure. Our guiding business principles include commitment to add sustainable value to our investee companies and to adhere to the best ESG practices. The Fund uses the United Nation’s 17 Sustainable Development Goals as guiding principles with key focus on those linked to job creation and sustainable growth.

We also fund share buy backs, refinancing of shareholder loans and dividend recaps. We also fund management buy-outs, leveraged buyouts and private equity buy-outs.

We can also pay down portion of senior debt bank funding especially where the senior debt has steep capital repayments, in order to create cashflow headroom for the business. Mezzanine debt loan funding is typically 5-6yr flexible bullet loan funding with capital repayable right at the end on the maturity of the loan. The business only has to service interest payments during the loan tenor thereby creating cashflow headroom and the business can re-invest the excess cashflows for growth.

Business or project must be generating minimum R25m EBITDA per annum at the time of investment. Meaning we can’t fund greenfield projects or new developments on a ring-fenced basis. We can look at greenfield opportunities or new projects provided there is an external guarantee (i.e., third party guarantee) from a business (i.e., balance sheet) that generates the minimum R25m EBITDA. The guarantee can fall away once the business meets the threshold and covenants are met.

Also, we can’t fund distressed assets or big turnarounds.

Kholo Capital is a specialist alternative investment fund management company with deep experience and track record in private markets. It was founded in 2020 by Mokgome Mogoba and Zaheer Cassim. The Kholo Capital investment team has more than 100 years of collective credit and investment experience and is highly skilled in senior debt, mezzanine debt and private equity. The investment team has a strong track record in the credit and investment space and has invested in excess of R50bn of mezzanine debt, private equity and senior debt investment transactions in over 90 transactions in more than 10 African countries. Kholo Capital is managed by a cohesive, dynamic and nimble team and the management team has worked together over the last 21 years.

Website: www.KholoCapital.com

Website: www.Bayport.co.za

For more information contact:
Mokgome Mogoba
Managing Partner – Kholo Capital Mezzanine Debt Fund I
mokgome@kholocapital.com
Tel: +27-79-631-5860

Zaheer Cassim
Managing Partner – Kholo Capital Mezzanine Debt Fund I
zaheer@kholocapital.com
Tel: +27-83-786-0845

Source: APO

The situation is particularly dire in El Fasher, the capital of North Darfur province, which has witnessed some of the worst episodes of the ongoing conflict between rival militaries.

Those remaining in El Fasher are facing “extreme shortages” of food and clean water, with markets repeatedly disrupted, UN Spokesperson Stéphane Dujarric told journalists at the regular news briefing in New York.

Across the city, nearly 40 per cent of children under five are suffering from acute malnutrition, including 11 per cent with severe acute malnutrition.

Most of the surrounding water infrastructure has also been destroyed or rendered non-functional due to minimal maintenance and fuel shortages, Mr. Dujarric added.  

El Fasher displacement

Since April 2023, an estimated 780,000 people have been displaced from El Fasher town and the nearby Zamzam displacement camps, including nearly 500,000 in April and May of this year.

Famine conditions have been confirmed in the area since last August.

About three-quarters of Zamzam camp’s residents fled to various locations across Tawila, where the UN and its partners have scaled up critical humanitarian assistance.

Cholera outbreak continues

Mr. Dujarric further warned that the breakdown of water and sanitation services, combined with low vaccination coverage, has sharply increased the risk of disease outbreaks, including cholera.

So far this year, Sudan has reported more than 32,000 suspected cholera cases.

According to the UN Office for Coordination of Humanitarian Affairs (OCHA) cholera cases continue to rise across Darfur, with over 300 suspected cases and more than two dozen deaths reported in South Darfur state last week alone.

“Conflict and collapsing infrastructure continue to drive the spread of the disease and impede response efforts,” Mr. Dujarric stressed.

Unprecedented and complex crisis

Since war erupted between the former allies-turned-rivals, the Sudanese Armed Forces (SAF) and Rapid Support Forces (RSF) in April 2023, tens of thousands of civilians have been killed and more than 12 million forced to flee their homes – including approximately four million as refugees in neighbouring countries.

The crisis is unfolding against a backdrop of extreme vulnerability, as the country remains highly susceptible to the impacts of climate change and disasters.

From severe droughts to deadly floods, the compounded effects of conflict and environmental instability are pushing communities to the brink, leaving them struggling to survive. Famine has already been declared in some parts of the country, putting millions of lives at risk.

Lack of resources hamstring response

Despite growing needs, the $4.2 billion humanitarian response plan for 2025, which aims to assist around 21 million of the most vulnerable people, remains only 21 per cent funded, having received $896 million received so far.

Tom Fletcher, UN Under-Secretary-General for Humanitarian Affairs, underscored the gravity of the situation in El Fasher.

Civilians in the area remain cut off from aid and face the risk of starvation, he said in a post on social media.

Appealing for an urgent humanitarian pause, he warned that that “every day without access costs lives.”

Distributed by APO Group on behalf of UN News.