The private equity fund will invest in fast-growing SMEs, mainly in North Africa. The Tunis-based fund manager launched the fund as a successor to the Africa Industrialization Fund (AIF), which attracted investment from some of the same institutions, and closed in 2020 having raised $260m. Key sectorsThe new fund is a generalist private equity fund that will invest in fast-growing SMEs, mainly in North Africa, targeting sectors such as healthcare, education, manufacturing and processing, and business services. The fund will make majority or significant minority investments, aiming to take a hands-on, value-added approach to investee firms. Ralph Keitel, head of fund of funds investments at responsAbility, said his firm intended to scale up its efforts to drive economic development, create quality jobs, and promote sustainable growth in North Africa, with SIFEM’s support.

A statement from the DGSN-DGST notes that these meetings focused on assessing security cooperation between Morocco and Germany, discussing security issues of common interest, and addressing regional and international security challenges. The security during the organization of major sporting events was also part of the discussions between Hammouchi and the German officials. The discussions centered on cooperation mechanisms, and sharing expertise and technical assistance between the two parties in securing major events, the statement added. They examined the security equipment and measures put in place and visited the Police Operations Management Center that oversees safety and security protocols during this soccer event. These various visits are part of the advanced preparations of Moroccan security services for upcoming continental and international security and sporting events that the Kingdom is preparing to host, the statement emphasizes.

The country has an ambitious target of boosting the share of renewables in its energy mix to 42% by 2030. “Grids are a big challenge” for developers of larger electricity projects, he said. Cameroon EntryOn the wider continent, Infinity Power is targeting by 2030 to increase its capacity to 10 gigawatts from 1.3 gigawatts. Those projects, concentrated in Western Cameroon, may include solar, wind, battery storage and biomass facilities. Infinity Power is also looking to expand in South Africa after acquiring 60% of Amsterdam-based Lekela Power last year.

SMB marketplace specialist honoured among a global field of top Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology. Pax8, the technology marketplace linking partners, vendors and small to SMBs through AI-powered insights and comprehensive product support, has won the Global 2024 Microsoft Partner of the Year Award. The company was honoured among a global field of top Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology. “We are honoured and humbled to be named Microsoft’s Global Partner of the Year,” said Nick Heddy, President and Chief Commerce Officer, Pax8. “Congratulations to the winners and finalists of the 2024 Microsoft Partner of the Year Awards,” said Nicole Dezen, Chief Partner Officer and Corporate Vice President at Microsoft.

EBRD commits up to US$ 40 million to new fund raised by SPE CapitalFund supports mid-cap companies in Egypt, Morocco and TunisiaFund of up to US$ 350 million raised to support firms in African countriesThe European Bank for Reconstruction and Development (EBRD) is committing up to US$ 40 million to SPE PEF III (PEF III), the new fund raised by SPE Capital, to support mid-cap companies in Egypt, Morocco and Tunisia. SPE Capital is a prominent fund manager operating in Africa, able to deploy around US$ 500 million, including co-investments in more than 15 companies across the continent. This new EBRD investment follows the first made with SPE Capital, back in 2019-20, when the EBRD invested in SPE AIF I (AIF I) fund, the predecessor to PEF III. To date, through AIF I, SPE Capital has invested in nine companies across a broad range of sectors including healthcare, education, fast-moving consumer goods and food processing. Anne Fossemalle, EBRD Director for Private Equity Funds investment, said: “We are excited to support SPE Capital, a key strategic partner to the EBRD in the southern and eastern Mediterranean region, in their next phase of development, through our investment in PEF III.

At this year's ITM in Istanbul where the majority of visitors came from Turkey, the Karl Mayer Group once again demonstrated it is a reliable partner for its customers, especially in difficult times. Nevertheless, the Karl Mayer Group trade fair team was able to report successes. for gauge conversions, were very well received," says Axel Wintermeyer, Vice President Care Solutions at the Karl Mayer Group. There were also a number of discussions about the performance of Karl Mayer multiaxial machines, especially with representatives from the wind power industry. Karl Mayer has a particularly interesting composite machine for them in the product range with the new Max Glass Eco, which is optimized in terms of price-performance ratio.

South African fintech startup Ukheshe has rebranded as EFT Corporation, following its acquisition of the company of the same name back in January, a move the company says will help position it as a “financial inclusion catalyst” on the continent. It has created an extensive range of micro-services that enable rapid digital transaction propositions for clients. In January, the company acquired EFT Corporation, a 23-year-old digital payments firm active in 35 African nations, from its parent company Loita Transaction Services (LXS), and it has now rebranded to that name. Ukheshe said the rebrand would combine its digital solutions with EFT Corporation’s reach under a single unified identity. “This rebrand marks the beginning of a new era of growth and possibilities for us as EFT Corporation.

South Africa-based cross-border money transfer startup Mama Money has partnered Access Bank and Paymentology, global leaders in banking and card issuing, to launch a new WhatsApp-powered bank card service. Mama Money offers international money transfers and banking services through a free mobile application, and is one of the fastest-growing money transfer operators, with over 720,000 users. Through Paymentology’s next-generation payment solution, the Mama Money Card also offers advanced security features that allow you to instantly freeze the card through WhatsApp in case of loss or theft. “The Mama Money Card represents a significant step in empowering communities, particularly in aiding migrants. By catering to the specific needs of a diverse customer base, Mama Money continues to dismantle financial barriers and promote inclusivity,” said Mathieu Coquillon, co-founder of Mama Money.

This will build on the game's growing popularity in the US, which began with our inaugural season and the T20 World Cup.“Bringing the game to existing and new fans, with expert commentary from experienced voices and emerging talent, is what truly makes this sport great. We are excited to kick off the second season and entertain fans globally with the world’s best cricket on American soil. "In addition to the world-class matches, fans have several ticket options to choose from, with general admission tickets starting at $30 per person. Offering 360-degree comprehensive cricket coverage, Cricbuzz delivers ball-by-ball text commentary, compelling video analysis by the best cricket experts worldwide, timely news, match reports, editorials, statistics, rankings, and live match streaming in several regions. With over 125 million monthly active users globally and more than 495 million downloads as of January 2024, Cricbuzz is the largest single sport app in the world.- Ends –

Africa Energy Forum’s theme for 2024, Energy Systems of the Future – Balancing Africa’s Needs with Global Goals, saw speaker after speaker at the opening session touch on the concept of inter-regional connections. Clean energy investment in AfricaDriving the energy markets of the future in AfricaStill, his vision for Africa’s energy future is positive. It includes battery energy storage, power trading and marketing, especially in Southern and Western Africa. Hoffman sees collaboration as key to delivering the energy markets of the future that will meet customer needs. The proposed RLSF policy will cover the risk of payment default by the national utility, KPLC and Geothermal Development Corporation (GDC).

By Hyonhee Shin North Korea claims successful test to develop multiple warhead missileSEOUL, - North Korea has successfully conducted an important test aimed at developing missiles carrying multiple warheads, state media agency KCNA said on Thursday, a claim rejected by South Korea as "deception" to mask a failed launch. North Korea said the test was carried out on Wednesday using the first-stage, solid-fuel engine of an intermediate-range ballistic missile. The dispatch came a day after South Korea's military said North Korea had launched what appeared to be a hypersonic missile off its east coast that exploded in midair. "The purpose was to secure the capability to destroy individual targets using multiple warheads," it said. "Today North Korea disclosed something, but we believe it's simply a means of deception and exaggeration," Lee Sung-joon, the spokesman for South Korea's Joint Chiefs of Staff, told a briefing.

SEOUL, South Korea — North Korea said Thursday it had successfully tested a multiwarhead missile in the first known launch of a developmental weapon coveted by leader Kim Jong Un to overwhelm U.S. and South Korean missile defenses. AdvertisementSouth Korea’s military said later Thursday that a joint analysis by South Korean and U.S. authorities assessed that the North Korean missile launch failed. But South Korea’s military said it couldn’t immediately confirm whether North Korea has the technology to build such a decoy. AdvertisementIn recent weeks, North Korea has also floated numerous trash-carrying balloons toward South Korea in what it has described as a tit-for-tat response to South Korean activists sending political leaflets via their own balloons. South Korea Thursday said it’ll turn on loudspeakers again if North Korea keeps sending trash balloons.

Summary: Drawing on four decades of industry expertise, BSG Alliance CEO and Chairman Steve Papermaster spearheads digital transformation initiatives across the MENA region. Building on its 40-year legacy of excellence in software and computing solutions, BSG Alliance aims to empower organizations in the region to thrive in the digital age. BSG Alliance's expansion in the MENA region will focus on serving key sectors including government and public sector, healthcare, financial services, energy and petrochemicals, and transportation. About BSG AllianceFounded in 1982, BSG Alliance is a global leader in providing tailored software solutions for governments, large corporations, and consumer services. BSG Alliance offers a comprehensive suite of services including custom software development, AI and machine learning solutions, scalable cloud services, and strategic consulting.

The International Criminal Court (ICC) issued an arrest warrant against terrorist leader Iyad Ag Ghaly and urged states to cooperate to bring him before justice, in a clear allusion to Algeria. Ghaly is wanted for war crimes and crimes against humanity committed in northern Mali between January 2012 and January 2013. A Tuareg descendant of the Ifoghah tribe, Ag Ghaly was notorious for leading a terrorist group branded as, Ansar Eddine, which once had control of Timbuktu, Mali, jointly with Al Qaeda in the Islamic Maghreb (AQIM). Mali had previously openly accused Algeria of acting in connivance with Tuareg extremists such as Iyad Ag Ghali. Sahel countries have on multiple occasions deplored Algeria’s laxity with Iad Ag Ghali who facilitated the merger of four terrorist groups operating in the Sahel into one group pledging allegiance to Al Qaeda and its Jordanian leader Zarqawi.

Russian offensive shows international pressure on Moscow isn't enough - ZelenskyyThe Russian spring offensive into Kharkiv shows the existing level of international pressure on Moscow is insufficient, Volodymyr Zelenskyy has said. Kyiv's military says it has stabilised the situation after Russian forces launched an assault on a new front in Ukraine's northeastern region. It was Vladimir Putin's second attempt to advance on Kharkiv, after Ukrainian troops successfully repelled his forces following the invasion in 2022. Speaking in Brussels today, Mr Zelenskyy said the attack "proves that the existing pressure on Russia for the war is not enough." The EU today signed a security agreement that entrenches its commitment to help Ukraine in areas of security and defence policy.