Posts

Posted on

La Nouvelle architecture financière africaine pour le développement du Groupe de la Banque africaine de développement prend un départ ambitieux lors de la réunion d’Abidjan

Source: Africa Press Organisation – French

Le Groupe de la Banque africaine de développement (www.AfDB.org) a conclu jeudi un dialogue consultatif historique sur une Nouvelle architecture financière africaine pour le développement (NAFAD, anciennement NAFA), avec une feuille de route ambitieuse pour combler le déficit de financement du développement de l’Afrique.

Ce dialogue d’une journée, qui s’est tenu le 9 avril, a abouti à l’adoption unanime d’un « Consensus d’Abidjan » en 11 points sur la NAFAD. La NAFAD est conçue pour surmonter les obstacles structurels à la mobilisation des ressources à grande échelle, afin de combler le déficit de financement du développement de l’Afrique, qui s’élève à 400 milliards de dollars par an.

Parmi les engagements pris par les participants figure une résolution visant à débloquer la vaste épargne intérieure de l’Afrique et à la canaliser vers des investissements productifs sur le continent. Ils se sont également engagés à assurer une coordination continue et à procéder à des examens annuels afin de maintenir une dynamique soutenue et de suivre les progrès accomplis.

La Nouvelle architecture financière africaine pour le développement est un élément central de la vision stratégique des Quatre points cardinaux du président du Groupe de la Banque, Dr Sidi Ould Tah.

Le dialogue consultatif de jeudi, qui s’est déroulé à Abidjan, la capitale économique ivoirienne, a comporté neuf « laboratoires », au cours desquels un large éventail de parties prenantes du secteur financier africain, a réfléchi à la création d’instruments, de plateformes et de cadres concrets, en vue de la mise en place d’une nouvelle architecture financière pour le continent.

Ce dialogue s’est tenu sous le patronage du président de la Côte d’Ivoire, Alassane Ouattara, représenté lors de la cérémonie d’ouverture par le Premier ministre ivoirien, M. Robert Beugré Mambé. D’autres responsables gouvernementaux, des membres du Corps diplomatique, des représentants d’organisations et d’agences internationales, entre autres, ont également assisté à l’événement.

« La conférence qui nous réunit aujourd’hui offre une réelle opportunité d’approfondir notre réflexion collective sur les réformes nécessaires à l’édification d’un système financier international plus juste et mieux adapté aux réalités du monde contemporain », a déclaré le Premier ministre Mambé au nom du président Ouattara.

Comme l’a dit Dr Ould Tah lors de la cérémonie d’ouverture, « l’architecture actuelle du financement du développement de l’Afrique est inadéquate et inadaptée », a-t-il déclaré. « La vérité est que nous ne souffrons pas d’un manque de capitaux : l’Afrique dispose d’environ 4 000 milliards de dollars d’épargne à moyen et long terme. »

La NAFAD propose un cadre systémique visant à réorganiser la manière dont les capitaux et les risques sont déployés dans l’écosystème financier africain. Il se concentrera sur la mise en place d’une architecture de mise en œuvre permanente, la mobilisation et le déploiement des capitaux.

« Le passage de la NAFA à la NAFAD n’est pas seulement un changement sémantique ; il exprime surtout votre réelle détermination à surmonter les obstacles structurels à la mobilisation à grande échelle des ressources pour financer le développement de l’Afrique », a déclaré Dr Ould Tah dans son allocution de clôture.

Lors de la séance plénière d’ouverture, le professeur Carlos Lopes, économiste bissau-guinéen, a fait remarquer que le véritable obstacle à la mise en œuvre de l’Agenda 2063 de l’Union africaine était le financement.

« Pendant des décennies, l’Afrique a travaillé avec ses partenaires au développement, et les financements concessionnels ont joué un rôle, en particulier pour les pays les plus vulnérables. Mais nous avons aussi constaté ses limites. Il n’a jamais été conçu pour financer la transformation à grande échelle ».

Le dialogue a attiré des participants issus d’un échantillon représentatif des secteurs financiers. Parmi eux figuraient des gouverneurs de banques centrales africaines, des cadres dirigeants de fonds souverains, de banques régionales et commerciales, de banques nationales de développement et d’institutions de financement du développement.

Cette participation large et représentative reflète la nature systémique du défi financier que le dialogue cherche à relever.

Dr Ould Tah a félicité les participants pour leur engagement total dans les discussions et leur maîtrise des sujets abordés.

« Vous nous avez permis d’obtenir des résultats qui dépassent largement les attentes initiales. C’est un moment historique : le Consensus d’Abidjan, accueilli avec un immense enthousiasme, redéfinit l’avenir du financement sur notre continent », a-t-il déclaré.

« En cimentant l’unité de l’écosystème financier africain sur les rives de la lagune Ébrié, cet accord confère à la NAFAD la légitimité et l’assise nécessaires à la réalisation des ambitions de nos “Quatre points cardinauxˮ ».

Le Consensus d’Abidjan a été présenté aux délégués par Souleymane Diarrassouba, ministre ivoirien du Plan et du Développement.

Distribué par APO Group pour African Development Bank Group (AfDB).

Images : Flickr

Contact médias :
Amba Mpoke-Bigg,
Département de la communication et des relations extérieures
media@afdb.org

À propos du Groupe de la Banque africaine de développement : 
Groupe de la Banque africaine de développement est la principale institution du financement du développement en Afrique. Il comprend trois entités distinctes : la Banque africaine de développement (BAD), le Fonds africain de développement (FAD) et le Fonds spécial du Nigeria (FSN). Représentée dans 41 pays africains, avec un bureau extérieur au Japon, la Banque contribue au développement économique et au progrès social de ses 54 Etats membres régionaux.

Pour plus d’informations : www.AfDB.org

Media files

Posted on

African Development Bank Group’s (AfDB) New African Financial Architecture for Development gets off to a bold start at Abidjan meeting

Source: APO

The African Development Bank Group (www.AfDB.org) on Thursday concluded a landmark Consultative Dialogue on a New African Financial Architecture for Development (NAFAD, formerly NAFA), with a bold roadmap to address Africa’s development financing gap.

The day-long dialogue held 9th April, resulted in the adoption of an 11-point “Abidjan Consensus” on NAFAD. NAFAD is designed to overcome the structural obstacles to mobilising resources on a large-scale, to plug Africa’s $400 billion annual development finance gap.

Among the commitments made by participants was a resolution to unlock Africa’s vast domestic savings, and channel them into productive investment on the continent. They also pledged continuous coordination and annual reviews to ensure sustained momentum and track progress.

The New African Financial Architecture for Development is a core part of Bank Group President Dr Sidi Ould Tah’s Four Cardinal Points strategic vision.

Thursday’s Consultative Dialogue, which took place in the Ivorian commercial capital, Abidjan, involved nine “Labs,” in which a broad spectrum of Africa’s top financial sector stakeholders brainstormed to produce concrete instruments, platforms and frameworks towards building a new financial architecture for the continent.

The Dialogue was held under the patronage of the President of Cote d’Ivoire, Alassane Ouattara who was represented at the opening ceremony by nation’s Prime Minister Mr Robert Beugré Mambé. The event was also attended by other government officials, members of the diplomatic corps, representatives of international organizations and agencies, among others.

“The conference bringing us together today presents a real opportunity to deepen our collective reflection on the reforms needed to build an international financial system that is fairer and better suited to the realities of the contemporary world,” Prime Minister Mambé said on behalf of President Ouattara.

As Dr Ould Tah put it during the opening ceremony, “The current architecture of financing Africa’s development is inadequate and not fit for purpose,” he said. “The truth is that we do not suffer from a lack of capital: Africa has approximately $4 trillion in medium- and long-term savings.”

NAFAD proposes a systemic framework aimed at reorganising how capital and risk are deployed across the African financial ecosystem. It will focus on building a permanent implementation architecture, capital mobilisation and deployment.

“The transition from NAFA to NAFAD is not merely a semantic shift; above all, it expresses your genuine determination to overcome the structural obstacles to the large-scale mobilisation of resources to finance Africa’s development,” Dr Ould Tah said in closing remarks. 

In remarks during the opening plenary, Guinea Bissau economist Professor Carlos Lopes noted that the real constraint to executing the African Union’s Agenda 2063 is finance.

“For decades, Africa has worked with its development partners, and concessional finance has played a role—particularly for the most vulnerable countries. But we have also learned its limits. It was never designed to finance transformation at scale.”

The Dialogue drew participants from a cross-section of financial sectors. They included African central bank governors, senior executives from sovereign wealth funds, regional commercial banks, regional and national development banks, securities exchanges, private equity, consignment funds, guarantee funds, and development finance institutions.

The broad and representative participation reflected the systemic nature of the financing challenge the Dialogue seeks to address.

Dr Ould Tah congratulated participants for their full engagement in the discussions and mastery of the topics addressed.

“You have enabled us to achieve results far exceeding initial expectations. This is an historic moment: the Abidjan Consensus, welcomed with immense enthusiasm, redefines the future of financing on our continent,” he said.

“By cementing the unity of the African financial ecosystem on the shores of the Ébrié Lagoon, this agreement provides NAFAD with the legitimacy and grounding necessary to uphold the ambitions of our “Four Cardinal Points.”

The Abidjan Consensus was presented to the delegates by Souleymane Diarrassouba, Cote D’Ivoire’s Minister for Planning and Development.

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

Images: Flickr

Contact: 
Amba Mpoke-Bigg,
Communication and External Relations Department
media@afdb.org

Media files

.

Posted on

Integral Appointed as Referral Agent for Ghana, Ivory Coast and Senegal for FIFA World Cup 26™ Hospitality Sales

Source: APO

On Location, the Official Hospitality Provider of the FIFA World Cup 26™, has expanded its partnership with Integral (www.Integralsande.com), appointing the company as a Referral Agent in Ivory Coast, Ghana, and Senegal for the tournament’s official hospitality programme.

Building on its successful role as Nigeria’s Exclusive Sales Agent, Integral will now support awareness, market engagement, and client referrals across key West African markets, connecting fans, brands, and corporate organizations in Ivory Coast, Ghana, and Senegal to official FIFA World Cup 26™ hospitality experiences.

“We are excited to deepen our relationship with Integral as we expand into new African markets,” said Alicia Falken, General Manager of On Location’s FIFA World Cup 26™ business. “Their strong regional expertise and proven track record in delivering premium hospitality experiences make them a valuable partner in driving access to official FIFA World Cup 26™ offerings across West Africa.”

As a Referral Agent, Integral will play a strategic role in identifying and engaging high-value clients across these markets, ensuring they are directed to official and authorized hospitality channels.

Fans are urged not to purchase tickets or packages from unauthorized platforms or sellers as FIFA reserves the right to cancel tickets obtained via unofficial channels. While there may be offers of unauthorized tickets and hospitality packages currently in the market, On Location is the only official hospitality provider of the FIFA World Cup 26™. On Location is proud to collaborate with respective Host Committees and their partners including local teams. Additionally On Location is partnering with Major League Soccer and the League’s clubs across the U.S. and Canada as official appointed Sales Agents for the tournament. The full list of authorized global sales agents will be published on https://FIFAWorldCup26.Hospitality.FIFA.com/ and added to, once a region is announced. 

Distributed by APO Group on behalf of Integral.

About Integral: 
Integral (www.Integralsande.com) is a leading sports management and marketing company with operations across Nigeria, Canada, Poland, the UAE, and the United Kingdom. With over 16 years of hospitality experience spanning five consecutive FIFA World Cup™ tournaments, Integral has worked closely with FIFA and its appointed hospitality partners, including MATCH Hospitality AG and now On Location, to deliver premium matchday experiences to brands, fans, individuals, and corporate organizations.The FIFA World Cup 2026™ marks another milestone in Integral’s journey, reinforcing its reputation as a trusted partner in connecting African markets to the world’s biggest sporting event.

About On Location:
On Location (https://OnLocationExp.com/) is a premium experience provider, offering world class hospitality, ticketing, curated guest experiences, live event production, and travel management across sports, entertainment, and fashion. From unrivaled access for corporate clients, to guests looking for fully immersive experiences at marquee events, On Location is the premier and official service provider to over 150 iconic rights holders, such as the IOC (Paris 2024, Milano Cortina 2026, LA 2028), NFL, NCAA, UFC, PGA of America, and numerous musical artists and festivals. The company also owns and operates a number of unique and exclusive experiences, transforming the most dynamic live events into a lifetime of memories. On Location is a subsidiary of Endeavor, a global sports and entertainment company.

Media files

.

Posted on

Political violence in South Africa is driven by a power elite trying to establish dominance – new research

Source: The Conversation – Africa – By Ivor Chipkin, Associate lecturer, University of Pretoria

For much of the past two decades, South Africa’s recurring waves of protest have been interpreted through a dominant lens: the failure of the post-apartheid state to deliver services to its poorest citizens. Rising unemployment, corroding infrastructure and inadequate housing are the familiar explanations offered.

We are political scientists who have been analysing protests and protest data for years. In a recent article we propose that the overall pattern of protest activity in South Africa cannot be explained by socio-economic conditions alone. It tracks the internal power struggles of the ruling party, the African National Congress (ANC).

This has led us to a new reading of state capture.

As we set out in a paper in 2025, state capture in South Africa is often reduced to a phenomenon of large-scale corruption. The focus has been on the way that private businesses, working with politicians, repurposed legislative and administrative processes to serve their interests and disable the criminal justice system to avoid consequences.

The conventional understanding casts state capture as looting: the opportunistic and organised theft of public resources by politically connected networks and enabled by a compromised presidency.

We do not contest the reality of this pillaging. But we argue that it was also something more structurally purposeful. State capture, in our account, was the mechanism by which former president Jacob Zuma sought to forge a “power elite” in the ANC.

This is a term we borrow from the sociological tradition of C. Wright Mills to refer to a small cohesive group that is able to make decisions with national consequences in political, military and economic institutions. In contrast a politically connected network may have influence but is too diffuse to exercise power as such.

The power elite matters because it explains who really makes the biggest decisions in society and why democratic institutions do not always fully control those decisions.

The argument we’re presenting has consequences for how the country understands what state capture is, and the trajectory of South African democracy itself.

Protests as a barometer

Drawing on data from the South African Police Service, the Armed Conflict Location and Event Data Project, and the Institute for Security Studies, we identify a striking pattern. Protest events rose sharply from around 2006, reaching what some researchers called “insurrectionary proportions” by 2011.

Then they stabilised and began to decline between roughly 2013 and 2017. This period coincided with the consolidation of Zuma’s hold on power and the height of state capture.

After 2018, protests surged again to unprecedented levels. In 2021, the country experienced its worst civil revolt since the end of apartheid.

The socio-economic conditions typically cited to explain protest – unemployment, inequality, poor service delivery – do not follow this same pattern. They did not improve during the 2013-2017 lull. If anything, they worsened. As our paper records, municipal audit outcomes deteriorated sharply by the end of the period.

Inequality, measured by Gini coefficients across South Africa’s major cities, remained essentially unchanged. The exception was Cape Town, where inequality seems to have declined.

The stabilisation of protest activity, we conclude, cannot be attributed to improvements in the living conditions of poor South Africans.

Something else was suppressing the mobilisation of discontent.

Our answer draws on political sociology and on comparative work on elite formation in Africa and beyond. We conclude that protests are instruments of elite competition. This includes the tactical deployments of professional agitators by local politicians and their networks contesting for control of resources, positions and patronage within the ANC.

When these competitions are acute and unresolved, they spill outward as protests. When they are contained, protest subsides.

The how

By repurposing state-owned enterprises away from their public mandates, the Zuma network generated enormous rents that were then used for private enrichment and to finance factional political activity. This included paying for party rallies, sustaining provincial and regional networks, creating sympathetic media infrastructure, and distributing cash and contracts to potential opponents in exchange for loyalty or silence.

The result was a temporary stabilisation of what had been a fractured and contested elite terrain.

Between roughly 2013 and 2017, a group of politically aligned operators was able to discipline internal competition, in part by allocating positions in government, state-owned enterprises and the party apparatus.

Those who would not be bought were expelled, marginalised, or subjected to violence. We note that political assassinations rose sharply during Zuma’s second term. Evidence before the Zondo Commission into state capture pointed to the deployment of armed units under presidential operational control.

The relative “stability” observable in protest data between 2013 and 2017 was the successful suppression of elite competition through corruption, patronage and coercion. The modest improvement in municipal spending was the result of elite power exercised over administrative systems.

The unravelling under Ramaphosa

If Zuma’s presidency saw the construction of a power elite, Cyril Ramaphosa’s has seen its unravelling.

The consequences have been severe.

At the ANC’s 54th national conference in December 2017, Ramaphosa narrowly defeated Nkosazana Dlamini-Zuma for the party presidency. Zuma’s internal compact then began to fracture. The spike in protest activity that followed was almost immediate.

Ramaphosa was not prepared to deploy corruption and violence as political solutions. But without an alternative basis for managing elite competition, the ANC’s internal fissures deepened.

There were symptoms of this disintegration in 2023:

Gatekeeping became decentralised and unregulated. Elite contestation began migrating out of the party system altogether.

A sobering conclusion, and hint of hope

We conclude that some of it will be pushed towards organised crime. Mafia-type networks, we suggest, should be expected to grow.

There is, however, a more hopeful possibility. The reason the ANC has functioned as the primary arena for elite competition is that it has controlled access to the “gate” – the allocation of positions in the state, the civil service and state-owned enterprises.

Remove that control, and the character of elite competition changes. This is precisely what is at stake in the amendments to the Public Service Act of 1994. Signed into law by Ramaphosa on 26 March 2026, it was gazetted on 1 April 2026.

The legislation aims to:

  • reduce executive discretion over appointments in the public service

  • insulate civil service recruitment and operations from party-political interference.

If implemented, political parties will be compelled to compete for support through policy and performance rather than patronage. Elite competition will shift to the public administration system itself. Ideally, this will be governed by merit, transparency and professional standards.

We are cautious about the prospects for this reform. History is not encouraging and the political conditions are challenging.

But if it can end gatekeeping, new legislation like the Public Service Amendment Act will change the elite social terrain in South Africa.

– Political violence in South Africa is driven by a power elite trying to establish dominance – new research
– https://theconversation.com/political-violence-in-south-africa-is-driven-by-a-power-elite-trying-to-establish-dominance-new-research-280504

Posted on

Women working in Uganda’s pig sector: how challenging prejudices can unlock opportunities – research

Source: The Conversation – Africa – By Esther Leah Achandi, Post Doctoral Fellow- Gender, International Livestock Research Institute

In some communities in Uganda, women aren’t supposed to work with pigs. This stems from restrictive social and gender norms, some of which are rooted in culture and religious beliefs.

Until recently, eating pork was associated with drunkards because the meat was typically served alongside home-brewed alcohol in local bars. That’s changing, as “pork joints” become popular everyday eating places. What’s more, pigs are unfairly thought of as dirty and therefore some people think the people who work with them must be dirty too. Women, in particular, according to prevailing social norms, are meant to keep themselves clean.

The pig sector is growing rapidly in east Africa on the back of rising demand. Uganda is one of three top pork producers in Africa, after Nigeria and Malawi. The country also has the highest per capita consumption of pork in the region, estimated at 3.4 kilograms per person per year. This has led to job opportunities in pig farming, trading, butcheries, food stalls, artificial insemination, and feed and veterinary supply shops.

Across Africa, social and gender norms determine whether a woman can work, what kind of work she can do, where she can work, with which animals, and how much she gets paid. This is the case in Uganda. In some parts of central Uganda, while the management – and cleanliness – of piggeries have improved, resulting in better perceptions about pig hygiene, lingering prejudices have meant women working in the pig industry have little bargaining power and lower incomes, and may feel pressured to work covertly. All this results in missed opportunity for women to develop professional skills and support their families, and reduced food safety for everyone.

In 2022/2023 we conducted a study in two districts to understand how local gender norms affected women in the pig farming sector. The findings revealed that women faced restrictions in conducting artificial insemination, castrating animals, taking sows to boars for mating, and transporting pigs on motorcycles. Additionally, certain activities – including slaughtering, trading livestock, producing feed, and owning large farms – were deemed inappropriate for women.

We also found systemic barriers such as lower wages, lack of control over income, restricted physical mobility, and exclusion from influential networks blocked them from fully reaping the benefits of the sector.

These findings led us to launch a range of interventions in the districts. Working with the international NGO Ripple Effect, my team at the International Livestock Research Institute and I trialled a range of interventions in Uganda’s Masaka and Mukono districts.

The results, evaluated a year later in December 2025, showed that social norms can be both accommodated and transformed for the benefit of all. For example, radio shows and conversations challenged widely held sentiments and sought to normalise roles that were taboo for women – such as providing pig insemination services to other farmers and contributing to a growing pig sector.

Our findings have lessons that are of value across many industries and in many places.

Doing things differently

We worked with pig farmers, business people, regulators and community members in five different communities to address the restrictive norms that prevented women from engaging in pig businesses. The work was carried out in Masaka district (south-west of Kampala) and Mukono district (east of the capital).

The interventions we put in place included:

  • providing women farmers with weigh-bands to estimate live pig weights and make sure they weren’t being cheated

  • offering training for women farmers to help them negotiate better prices and animal services

  • providing branded lab coats and badges to certified professionals to help combat the lack of respect for women in technical roles like artificial insemination

  • providing aprons, head wraps and boots to women working in slaughterhouses and butcher shops, so they would not be seen wearing dirty clothes.

These interventions provided solutions to accommodate existing norms without directly challenging them.

We also trialled some interventions aimed at transforming gender norms. We organised broadcasts on local radio talk shows, featuring a panel discussion between gender officers from Ripple Effect, community leaders and local men who explained why they supported their wives and daughters to work in the pig industry.

For instance, in one broadcast, one local leader shared his family’s story:

My wife rears pigs in large numbers, and I help her look for markets. When I travel, I bring her feeds for them. A home without money is unhappy. Piggery projects are family enterprises … When a woman earns an income, her husband is relieved financially; an empowered woman is a responsible woman.

We also held large community meetings, and used recordings from these shows to spark dialogue about these issues.

The changes

Over a year we observed changes.

Women butchers, farmers and artificial insemination agents felt more confident and accepted, and their services were sought after, especially by other women.

They were able to negotiate higher prices for their pigs. They invested their savings in their piggeries; some were able to use the profits to buy their own land and build houses.

There has been movement towards policy changes, too. Traditionally, pigs have had to be killed in official slaughterhouses – male-dominated spaces. Women did not feel welcome there, and men felt women would not be able to cope with the practical act of slaughter.

After our work in the sector, including inspection officials, authorities are now allowing some women to slaughter their pigs at home.

Lessons

Norms are powerful. Any efforts to improve livelihoods, boost community health, or grow a particular industry will be shaped by these norms. Ignoring them is a recipe for failure, while understanding them – and, where appropriate, moving beyond them – can benefit a whole community.

To transform restrictive norms, both men and women must be included in dialogues that encourage critical curiosity about their impacts. Religious, political and community leaders – people who often enforce these unwritten rules – must also be part of the conversations and solutions.

Radio talk shows and social media can showcase women successfully performing traditionally masculine tasks and supportive men, to normalise new behaviours and reduce shaming. And something as simple as professional clothing can send a signal that women are competent – and clean.

Gender norms can change, and these social changes can have practical and economic effects. Livestock development, as we have seen in Uganda’s pig industry, can be an entry point to promote gender equality.

At the same time, removing barriers to women’s participation can boost families’ incomes, bolster rural industries and alleviate poverty.

Challenge norms, empower women, and everyone benefits.

– Women working in Uganda’s pig sector: how challenging prejudices can unlock opportunities – research
– https://theconversation.com/women-working-in-ugandas-pig-sector-how-challenging-prejudices-can-unlock-opportunities-research-277751

Posted on

Liquid Intelligent Technologies Draws Outsized Demand for $300 Million Bond, Signalling Investor Confidence in African Digital Infrastructure

Source: APO – Report:

.

In a test of institutional appetite for African credit, Liquid Intelligent Technologies (www.Liquid.Tech) has closed a $ 660 million debt financing round, including a $300 million Eurobond that was oversubscribed 2.5 times – a result that signified a meaningful vote of confidence in the continent’s digital infrastructure story.

The bond, listed on Euronext Dublin and issued under Rule 144A/Regulation S, formed the centrepiece of a broader debt paydown and refinancing completed by Liquid, the pan-African fibre and technology business owned by Cassava Technologies. The transaction retires the company’s prior debt obligations, extends its debt maturity profile, and resets its balance sheet on terms that give management the financial headroom to accelerate the company’s growth and cement its leading position as a critical enabler of Africa’s digital transformation.

The demand of that scale, against a challenging capital markets environment, points to something more than routine refinancing. It suggests that a cohort of international institutional investors has made a considered judgement; that Liquid’s asset base, its 115,000-kilometre fibre network spanning more than 25 countries, its growing cloud and cybersecurity revenues, and its positioning at the intersection of connectivity and AI infrastructure, constitute a credit that warrants allocation.

The bond was accompanied by syndicated ZAR and USD term loan facilities. The USD 210 million ZAR syndicated term loan, provided by Nedbank, Rand Merchant Bank, Standard Bank, and the International Finance Corporation, provides a natural currency hedge against Liquid’s substantial South African revenues. This is a structural refinement that addresses one of the more persistent concerns institutional investors have raised about African issuers. The USD 150 million syndicated term loan was provided by Ninety One, via its own funds and the Emerging Africa and Asia Infrastructure Fund and The Mauritius Commercial Bank Limited (MCB). Together with the USD 195 million fresh equity injection by Cassava, these instruments retire our prior debt obligations, extend Liquid’s debt maturity profile and provide a natural ZAR currency hedge on our South African revenues, whilst placing net leverage on a firmly downward trajectory.

Anchor orders in the Eurobond were placed by leading development finance institutions (“DFI”), including DEG, the German DFI. DFI participation at this level is rarely cosmetic. It signals that institutions whose mandate is explicitly tied to sustainable development in emerging markets have assessed that Liquid’s infrastructure is consequential to that agenda.

Fitch Ratings upgraded Liquid Intelligent Technologies ahead of launch. Moody’s has placed the issuer on Review for Upgrade. The convergence of two agency actions reinforces our improved financial profile and will be noted by investors who track African credit closely.

J.P. Morgan, Rand Merchant Bank and Standard Bank acted as Joint Global Coordinators and Joint Bookrunners.

“This refinancing is a significant milestone, not just financially, but strategically. A stronger, more sustainable balance sheet gives Liquid the platform it needs to pursue the full scope of digital transformation opportunities across Africa, from fibre and cloud to cyber security and AI-enabled infrastructure. The quality of the institutions that participated in this transaction is a statement of confidence in Liquid’s fundamentals and in Africa’s digital growth story.” Hardy Pemhiwa, Group CEO, Liquid Intelligent Technologies

– on behalf of Liquid Intelligent Technologies.

Media Enquiries:
Angela Chandy
Executive Head: PR & Corporate Communications
Angela.chandy@liquid.tech

About Liquid Intelligent Technologies:
Liquid Intelligent Technologies is a business of Cassava Technologies (Cassava), a global technology leader with operations in 40-plus markets across Africa, the Middle East, and Latin America, where the Cassava group companies operate. Liquid has firmly established itself as the leading provider of pan-African digital infrastructure with a 110,000 km-long fibre broadband network and satellite connectivity that provides high-speed access to the Internet anywhere in Africa. Liquid is also leveraging its digital network to provide Cloud and Cyber Security solutions through strategic partnerships with leading global players. Liquid is a comprehensive technology solutions group that provides customised digital solutions to public and private sector enterprises and SMEs across the continent.

For more information, visit www.Liquid.Tech.

About Cassava Technologies:
Cassava Technologies is a global technology leader providing a vertically integrated ecosystem of digital services and infrastructure enabling digital transformation. Headquartered in the UK, Cassava has a presence across Africa, the Middle East, Latin America and the United States of America. Through its business units, namely, Cassava AI, Liquid Intelligent Technologies, Liquid C2, Africa Data Centres, and Sasai Fintech, the company provides its customers’ products and services in 94 countries. These solutions drive the company’s ambition of establishing itself as a leading global technology company of African heritage. 

www.CassavaTechnologies.com

Posted on

Africa Finance Corporation Secures Additional US$100 Million Facility from India Exim Bank to Accelerate Africa’s Infrastructure Development

Source: APO – Report:

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has announced the successful closing of a US$100 million, 5-year loan facility from the Export-Import Bank of India (India Exim Bank), further strengthening its long-standing partnership with the institution. The facility, signed at AFC’s just concluded Investor Day in London, will support AFC’s mandate to accelerate development of critical infrastructure and industrial assets across Africa.

In an economic environment characterised by global market volatility and evolving investor dynamics, this transaction is strategically significant as it underscores AFC’s access to alternative liquidity pools beyond traditional capital markets, while also extending its tenor profile. By securing medium-term funding from a key export credit institution such as India Exim, AFC continues to demonstrate its ability to deploy flexible, cost-efficient capital in support of high-impact projects across the continent.

This facility builds on an established relationship with India Exim Bank, reflecting a shared commitment to advancing infrastructure development and economic cooperation between Africa and India. The transaction builds on the successful US$100 million financing completed in 2021, reinforcing AFC’s commitment to diversifying its funding base while deepening strategic engagements with key Asian financial partners.

Banji Fehintola, Executive Board Member and Head of Financial Services of AFC, said, “This facility is an important milestone in our long-standing partnership with India Exim Bank and reflects our shared commitment to advancing infrastructure development across Africa. Access to diversified and long-term capital is critical to delivering transformative projects on the continent, and AFC remains at the forefront, leveraging strategic collaborations with leading institutions to scale our impact and accelerate Africa’s industrialisation.”

As AFC continues to deepen its presence across global funding markets, it remains committed to strengthening partnerships and unlocking innovative sources of capital to advance its mandate. The Corporation plays a catalytic role in mobilising capital for critical infrastructure projects that drive industrialisation, enhance regional integration, and support sustainable economic growth across Africa.

– on behalf of Africa Finance Corporation (AFC).

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

About AFC:
Africa Finance Corporation was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments 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 over US$18.5 billion in 36 African countries since its inception.

About India Exim Bank:
India Exim Bank was set up in 1982 by an Act of Parliament and is fully owned by the Government of India. It is the principal financial institution for coordinating the working of institutions engaged in financing exports and imports. India Exim Bank, has over the years, played a catalytic role in facilitating India’s integration with the global economy by promoting, financing and facilitating India’s international trade and investment. The Bank’s range of programmes have helped Indian enterprises become competitive and develop a global footprint. For media enquiries, please contact eximlondon@eximbankindia.in

Media files

.

Posted on

TBM launch signals a step towards water security for Gauteng and Lesotho

Source: Government of South Africa

TBM launch signals a step towards water security for Gauteng and Lesotho

By Dikeledi Molobela

Mokhotlong, Lesotho – In a major step toward securing water supply for South Africa’s economic heartland, the second Tunnel Boring Machine (TBM) was launched on Monday at the Polihali construction site, under Phase II of the Lesotho Highlands Water Project.  

Minister of Water and Sanitation Pemmy Majodina, alongside Lesotho’s Minister of Natural Resources Mohlomi Moleko, presided over the milestone event in the highlands of Mokhotlong, underscoring deepening regional cooperation between South Africa and Lesotho.

The delegation included Water and Sanitation Deputy Minister David Mahlobo, Principal Secretary of the Ministry of Natural Resources in the Kingdom of Lesotho, Relebohile Lebeta, the Lesotho Highlands Water Commission and the Lesotho Highlands Development Authority. 

The launch of the 423-metre-long TBM, designed to excavate a 38.5km tunnel connecting the Polihali Dam and Katse Dam, marks the transition from preparatory work to full-scale underground construction.

Addressing stakeholders, Majodina framed the moment as both technical and symbolic. 

“Today, we stand in the highlands of Lesotho — but we gather for a journey that begins deep beneath our feet. A journey that will stretch 38.5km through solid rock, connecting the Polihali and Katse Dams into a single, gravity-driven water system — a system that will move water without a single pump.

“This is engineering at its most purposeful. This is infrastructure at its most transformative,” the Minister said. 

The TBM, with a 5.38-metre cutterhead, will operate under extreme geological conditions — boring through rock beneath mountains rising over 3 000 metres and sections with up to 1 000 metres of overburden. 

Once complete, the tunnel will enable water to flow naturally between reservoirs without pumping, significantly improving efficiency.

The project is critical for South Africa, particularly Gauteng, which faces growing water constraints due to rapid urbanisation and industrial demand. 

“As the TBM advances, it brings us closer to the dream of a water secure Gauteng, which is the economic hub of the country and population growing rapidly despite being the smallest province in the country,” Majodina said.

The first and second TBM, which was launched at Katse in early 2025, are excavating from both ends of the tunnel to accelerate completion.

Progress to date includes more than 600 metres excavated from the Katse side and over 380 metres from Polihali, with both machines now operating simultaneously.

Beyond engineering, the project is expected to deliver substantial socio-economic benefits. 

Approximately 2 400 Basotho are currently employed, with over 1 100 individuals trained and more than 700 certified in various skills. Local economic participation has already exceeded M600 million.

“This is not incidental. It is intentional. This is how infrastructure builds nations,” Majodina emphasised. 

Once completed, the tunnel will increase water transfer to South Africa from 780 million cubic metres to 1 270 million cubic metres annually, while boosting hydropower generation at the Muela Hydropower Station by approximately 30%.

“This is not incremental change. This is a step-change in regional resilience for both the Kingdom of Lesotho and the Republic of South Africa,” she said.

The Minister also stressed governance and accountability in delivering the R9.2 billion project.

“Every Maloti invested, in this R9.2 billion project must deliver value to the people of Lesotho and South Africa,” she said.

The Lesotho Highlands Water Project, a long-standing bi-national initiative, is designed to harness the Orange–Senqu River system to augment water supply to South Africa while generating hydropower for Lesotho. 

Phase II includes the Polihali Dam, the transfer tunnel, Senqu Bridge and associated infrastructure such as bridges, roads, and social programmes. 

Looking ahead, one of the most technically demanding aspects of the project will be the “lake tap” a controlled underwater breakthrough into the Katse reservoir requiring precise alignment and pressure management.

“Let this Tunnel Boring Machine stand as a signal: That we are moving forward. That we are building. That we are delivering. Delivering with purpose. Delivering with integrity. Delivering for the people,” the Minister said. – SAnews.gov.za

 

DikelediM

24 views

Posted on

Justice Minister Kubayi engages legal sector on transformation

Source: Government of South Africa

Justice Minister Kubayi engages legal sector on transformation

Minister of Justice and Constitutional Development Mmamoloko Kubayi has emphasised that the transformation of the legal sector remains integral to sustaining South Africa’s democracy.

On Monday, the Minister met with legal practitioners in a stakeholder engagement as part of government’s efforts to strengthen collaboration and advance transformation within the legal sector.
The Minister, who gave her remarks after the stakeholders had their say, noted that the session highlighted that there remain pockets of “resistance” to transformation in the sector.

“Most studies have indicated that the transformation of the legal profession is facing resistance by established players who have benefited from the status quo, and this has also manifested itself with legal challenges against the legal sector code.

“There are still many barriers that restrict the careers of talented black and female lawyers, including racist treatment, sexual harassment, and briefing patterns which give preference to white men.

“That can’t be ignored. It cannot be that it is not acknowledged that transformation is necessary in this sector, because the worst off in this sector remain the black women. We are going to have to work together…in partnership to be able to fight the resistance and transform our sector,” Kubayi said.

The Minister has instructed all State Attorney Offices to hold quarterly stakeholder engagements to deepen transformation even further.

A tool of economic freedom
Kubayi highlighted the importance of transformation as a source of economic freedom.
“For us to have a country and its democracy being sustainable, everybody must feel part of this country, including economically. Political freedom without economic freedom is meaningless. So, [legal] briefs and opportunities remain critical,” she said.

Turning to the Constitution, which commemorates 30 years since its adoption, the Minister noted that it enjoins the government to address past injustice and discrimination.

“It says to us that it is time for us to pause and reflect on the journey that we have travelled, renew ourselves in terms of the mandate and values, and principles of the Constitution.

“More importantly, transformation does not mean replacement of white faces with black faces. It’s about building a non-racial society. That’s what the Constitution says.

“But the Constitution also calls on us to address the injustices of the past,” she said. – SAnews.gov.za

 

NeoB

15 views

Posted on

SAPS expresses concern on the publication of leaked affidavits

Source: Government of South Africa

SAPS expresses concern on the publication of leaked affidavits

The Gauteng South African Police Service’s (SAPS) Counter Intelligence Operation says it has noted with serious concern the circulation and publication of leaked affidavits linked to ongoing investigations into drug-related criminal networks in the country.

The SAPS noted the publication of certain information and pictures on the front page of The Sunday Times newspaper.

“While the SAPS recognises and respects the vital role played by the media in promoting accountability and uncovering the truth, we urge all media houses, especially the Sunday Times, journalists, social media content creators to exercise responsibility and restraint in handling such sensitive information,” the police said in a statement.

According to the police, the publication or dissemination of leaked affidavits – especially those containing details of witnesses, informants, and evidence – poses a direct and dangerous risk to the safety and lives of individuals who have come forward to assist police investigations.

Not only are the witnesses’ lives placed at risk, but their families too. These individuals who are witnesses in sensitive and high-profile cases often do so under conditions of trust to the police, said the police.

The police added that the premature release of such information has the potential to compromise ongoing investigations and alert criminals on police ongoing investigations.

“We would like to emphasise that the protection of witnesses and their families is of critical importance to the work of the police.

“We therefore urge members of the media, especially “The Sunday Times” to act in the interest of the lives and the families of witnesses and avoid publishing leaked affidavits and their personal information.

“We also make a call to some lawyers, attorneys and advocates working on these high profile cases not to leak information to the media and use that information solely to prepare for trial ready cases. We also make an appeal to social media users to also refrain from making unnecessary speculations and naming witnesses on cases, as witnesses lives are at risk,” the police said. – SAnews.gov.za

 

Edwin

127 views