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8B Education Investments Welcomes the Roots’ Lead Singer and Entrepreneur Tariq “Black Thought” Trotter to Board Position

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8B Education Investments closes $3m seed raise and adds Trotter alongside David Brown, Managing Partner of Impellent Ventures, to board, continuing the momentum for 8B, which announced a historic $30M debt partnership with Nelnet Bank as part of a broader $111.6M commitment at the 2022 Clinton Global Initiative to accelerate African students’ access to global universities

NEW YORK, United States of America, December 13, 2022/APO Group/ — 

8B Education Investments (8B.africa), the first fintech lender to African students attending global universities, announced two additions to its Board of Directors. Following the close of 8B’s $3 m seed round, Tariq Trotter, a general partner at venture capital firm Impellent Ventures, and the lead lyricist and front man of legendary hip hop group The Roots (bit.ly/3VMozkJ) known as “Black Thought”, will join David Brown, Impellent’s Managing Director, as 8B’s two new board members.

8B Education Investments has built a pioneering platform to connect high-potential African students with world-class colleges and universities, a financing marketplace to research scholarships and compare loan financing options; and a career support function to enable students to realize their highest potential.

With more than 100,000 users on the platform and an ambition to 10x the number of African students in global universities, 8B has built a vibrant community where African students engage with peers, mentors and university experts on all aspects of the highly fragmented and often confusing journey of studying abroad. Students currently visit the platform to identify right-fit colleges, financing options, and careers.

The impact of 8B’s work is in providing global universities and employers a gateway to the world’s fastest growing pool of diverse young talent, while creating a critical mass of African innovators equipped to participate, compete, and thrive in the knowledge economy of the 21st. century. The company plans to use the resources to grow its unique, non-cosigner loan program, expand its education finance marketplace, and build additional product capabilities.

Trotter’s appointment as an observer to the Board of Directors continues the artist, actor, writer, producer, creator and GRAMMY award-winning musician’s passion of supporting underserved entrepreneurs. A leader of the Tonight Show Starring Jimmy Fallon’s house band, and a composer and producer of the critically acclaimed off-Broadway musical Black No More, Trotter joined Impellent Ventures in May 2022.  8B is his first board position.

Through 8B’s work, the numbers of African students attending American schools will grow, especially at Historically Black Colleges and Universitie

“I am honored to join 8B’s Board of Directors and continue my passion in helping and investing in underserved communities,” said Trotter. “Brilliance is evenly distributed everywhere around the world, but for too long, the world has acted as though African brilliance is a rare commodity. Through 8B’s work, the numbers of African students attending American schools will grow, especially at Historically Black Colleges and Universities. This will enrich the university experience for everyone, strengthen the US-Africa relations, and change existing perceptions about the African continent and about people of African descent around the world more broadly.”

David Brown, Managing Director of Impellent Ventures, added: “Until now, talented and high-potential youth across the African continent have had limited access to global universities, depending almost exclusively on winning the scholarship lottery. I am proud that our investment in 8B creates the first scalable solution of its kind providing education financing to Africa’s aspiring and talented future leaders that will unequivocally result in long-term impact on Africa and the world.”

The market need 8B is addressing is clear: 8B estimates that less than 30% of African students accepted into American universities can afford to attend, creating a $25b annual financing gap. Scholarships are too few to meet demand and affordable loan programs focusing on African students do not exist. Yet, Africa’s population of 1.2 billion people is the youngest and fastest growing in the world, with a median age of 19. By 2050, Africa is expected to have the largest working-age population in the world.

“8B is thrilled to close our seed financing and have Tariq Trotter and David Brown join our Board,” said Dr. Lydiah Kemunto Bosire, 8B’s founder and CEO.  “This is Africa’s season, and 8B’s mission requires a scale of investment capital – not philanthropy – that has simply not been available to African students to date. That is why we are thrilled to have found like-minded investors to support us with the cutting-edge ideas, guidance and solutions we need to seize this generational opportunity of unlocking African potential.”

In addition to Trotter and Brown joining its Board of Directors, 8B’s investors in the round include New York Ventures, a division of Empire State Development, and Trueventures.org, the social impact initiative launched by venture capital firm True Ventures. The round also includes 11 experienced investors and operators in the education, finance, and impact ecosystems, including Debra Fine of Fine Capital Partners, Seavest Investment Group CEO Rick Segal, Amplify CEO Larry Berger, and Bryan Meehan, former CEO of Blue Bottle Coffee.

“The opportunity that 8B has identified has been unaddressed for too long,” said Christiaan Vorkink, VP and Director of Trueventures.org. “8B is the kind of world-changing company we are proud to support, and we believe Lydiah and her team have the lived experience and passion to solve an important problem that is too big and complex for charity alone. We look forward to working with the team to help level the playing field for future generations of brilliant young Africans to pursue world-class higher education, changing lives in Africa and beyond.”

This announcement comes a few weeks after the company unveiled a partnership with US-based Nelnet Bank during the 2022 meeting of the Clinton Global Initiative, through which Nelnet will provide $30 million of lending funds over a period of three years to African students looking to receive a higher education at the American universities.  During the Clinton Global Initiative meeting, 8B announced a total of $111.6 million in funding commitments from a range of partners, including the Education Testing Service, the President’s Alliance on Higher Education and Immigration, and World Resources Institute (Africa), unified in their purpose to enable world-class education for the next generation of African innovators, including for the new climate economy.

Distributed by APO Group on behalf of 8B Education Investments.

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Africa Launches the First Pan-African Pact for Insurance Inclusion

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June 23, 2026

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400 decision-makers gathered in Cotonou to accelerate access to insurance and contribute to doubling insurance penetration by 2040

DAKAR, Senegal, June 23, 2026/APO Group/ –Faced with a major paradox representing nearly 19% of the world’s population while accounting for less than 1% of global insurance premiums African insurance stakeholders are mobilizing.

 

From July 6 to 8, 2026, the Federation of African National Insurance Companies (FANAF) will organize the General Assembly on Insurance for All at the Sofitel Hotel in Cotonou, Benin, a major pan-African gathering dedicated to inclusive insurance.

The event will bring together nearly 400 African decision-makers from governments, regulatory and supervisory authorities, insurance and reinsurance companies, financial institutions, development banks, technical and financial partners, as well as professional organizations from across the continent.

The ambition is clear: to foster a shared vision and concrete commitments aimed at accelerating access to insurance for African populations while strengthening the sector’s contribution to the continent’s economic and social development priorities.

The discussions will culminate in the adoption of the Pan-African Pact for Insurance Inclusion and a 2026–2030 Strategic Action Plan, designed to structure collective action around an ambitious objective: contributing to the doubling of insurance penetration across the FANAF region by 2040.

An Economic, Social and Development Imperative

Within the CIMA zone, insurance penetration remains below 1% of GDP, compared to more than 6% globally.

As a result, millions of households, farmers, entrepreneurs, SMEs and informal sector actors remain deprived of essential protection mechanisms against health, climate, economic and social risks.

For FANAF, this reality now constitutes a major development challenge.

Africa cannot build sustainable growth without strengthening protection mechanisms for its populations, businesses and investments

“Africa cannot build sustainable growth without strengthening protection mechanisms for its populations, businesses and investments. The Cotonou General Assembly must mark the starting point of a new continental ambition for African insurance and its role in the continent’s economic transformation,” said Mamadou Koné, President of FANAF.

Beyond Insurance: A Driver of Continental Transformation

For FANAF, insurance is no longer merely a risk coverage mechanism. It is also a strategic lever for economic resilience, savings mobilization, investment security, SME financing, support for climate transitions and the strengthening of financial inclusion.

Through this General Assembly, FANAF seeks to reposition insurance as a key stakeholder in Africa’s economic, social and financial transformation.

A Pact to Accelerate Action

The conclusions of the General Assembly will lead to the adoption of the Pan-African Pact for Insurance Inclusion, a reference framework intended to mobilize governments, regulators, market players, financial institutions and development partners around shared objectives.

The Pact will be accompanied by a 2026–2030 Strategic Action Plan defining priority intervention areas, coordination mechanisms and monitoring arrangements for the commitments undertaken.

A broad mobilization of public, private and financial partners will support its implementation in order to translate commitments into tangible results for African populations and economies.

Cotonou 2026: Building a Shared Vision

Beyond the insurance sector, the General Assembly aims to create an unprecedented platform for dialogue between governments, regulators, investors, financial institutions, technical partners and market actors in order to identify the levers needed to accelerate insurance inclusion across the continent.

Holding this event in Benin reflects the country’s broader economic and financial transformation momentum and illustrates the collective determination of African stakeholders to develop solutions tailored to the continent’s realities.

Through this initiative, FANAF intends to make Cotonou 2026 a defining moment for the future of African insurance and the starting point of a lasting continental mobilization in favor of insurance inclusion.

Distributed by APO Group on behalf of Fédération des Sociétés d’Assurances de Droit National Africaines (FANAF).

 

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Flat6Labs and International Finance Corporation (IFC) Launch StartAlgeria, a Capacity-Building Program Designed to Empower the Organizations Progressing Algeria’s Startup Ecosystem

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June 23, 2026

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StartAlgeria comes at a key moment for Algeria’s entrepreneurship landscape, shifting the focus toward improving how the ESOs operate by providing them with international best practices

ALGIERS, Algeria, June 23, 2026/APO Group/ –Flat6Labs (www.Flat6Labs.com) and IFC in collaboration with the Ministry of Knowledge Economy, Startups and Micro-Enterprises are launching StartAlgeria, a capacity-building program that puts Entrepreneur Support Organizations (ESOs) at the forefront of Algeria’s ecosystem future. The program is designed to equip Algerian ESOs reinforcing pre-seed and seed-stage startups with the expertise, frameworks, and networks needed to contribute to a stronger, more competitive entrepreneurship ecosystem in Algeria and expand into global markets.

 

StartAlgeria comes at a key moment for Algeria’s entrepreneurship landscape, shifting the focus toward improving how the ESOs operate by providing them with international best practices adapted to each organization’s needs, a community-driven approach that focuses on peer learning, and facilitating connections with investors, policymakers, and key stakeholders.

Algeria’s entrepreneurial community is among the most dynamic and vibrant in the region, and the potential is not just real, it is ready to scale

StartAlgeria will pilot a first cohort focusing on incubators in the capital, Algiers. Following a call for application, the selected ESOs will go through a structured program comprising workshops and masterclasses covering key areas such as startup selection, program design and delivery, and investment readiness. In addition to the core program, participating ESOs will benefit from 6months of post-program mentorship, focusing on areas such as fundraising strategy, partnership development, financial sustainability, and program improvement. This sustained engagement’s goal is to provide a lasting impact in how Algerian ESOs operate and what they’re able to offer the startups they champion.

Yehia Houry, CEO of Flat6Labs, shares “Algeria’s startup ecosystem is demonstrating remarkable potential and a rapidly growing level of maturity, driven by an ambitious new generation of founders, increasing institutional support, and a strong national commitment to innovation and entrepreneurship. The opportunity today lies in further empowering entrepreneurship support organizations to match this momentum by strengthening their ability to identify and nurture high-potential startups, deliver impactful and results-driven programs, and create stronger connections between entrepreneurs and sources of capital. With the right support structures in place, Algeria is well positioned to become one of the leading innovation hubs in the region.”

“Algeria’s entrepreneurial community is among the most dynamic and vibrant in the region, and the potential is not just real, it is ready to scale. Through StartAlgeria, we are committed to ensuring that the organizations standing behind founders are equipped with the tools, frameworks, and expertise to take them from early ideas to investment-ready ventures. This program is a direct expression of IFC’s long-term confidence in Algeria’s private sector and in the ecosystem’s capacity to produce the next generation of high-impact companies.” underscored Cemile Hacibeyoglu Ceren, WBG Resident Representative in Algeria.

“The launch of StartAlgeria marks an important step in reinforcing Algeria’s startup support ecosystem. By strengthening the capabilities of Entrepreneur Support Organizations, we are investing in the long-term growth, resilience, and international competitiveness of Algerian startups. This initiative reflects our shared ambition to build a dynamic innovation-driven economy and create new opportunities for entrepreneurs across the country,” said H.E Mr. Noureddine Ouadah, Minister of Knowledge Economy, Startups and Micro-Enterprises.

This IFC program is implemented in partnership with the Government of the Netherlands.

Distributed by APO Group on behalf of Flat6Labs.

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Hong Kong unlocks new opportunities with Central Asia

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June 23, 2026

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HONG KONG SAR – Media OutReach Newswire – 23 June 2026 – Led by Chief Executive of the Hong Kong Special Administrative Region (HKSAR), John Lee, a high-level delegation visit to Kazakhstan and Uzbekistan (May 31 – June 5) is already paying dividends, forging fresh opportunities to deepen ties between Central Asia, Hong Kong and the Chinese Mainland.

The business delegation comprised over 70 representatives from Hong Kong and Mainland enterprises of various sectors.

During the visit, 96 bilateral memoranda of understanding and agreements were reached, including a total of 15 co-operation documents at the government level between Kazakhstan and Uzbekistan respectively.

“The examples of agreements and co-operation are just so abundant that they range from the service sector to heavy industries such as mining and infrastructure development,” Mr Lee said. “I think the sky is the limit.”

The multiple outcomes achieved during the trip demonstrate Hong Kong’s role as a functional platform for the Belt and Road (B&R) Initiative, as the city actively plays its roles as a “super connector” and “super value-adder” to promote broader and deeper co-operation between the two places and establish a hub-to-hub co-operation model.

“Kazakhstan is an important commercial and logistics hub connecting China and Europe. It is also the place where the Belt and Road Initiative was first proposed, and is Hong Kong’s largest trading partner in Central Asia. There are broad prospects for further co-operation,” Mr Lee said, adding that a lot of B&R projects are also being pursued in Uzbekistan.

“For example, Uzbekistan sits in the heart of the corridor of Asia and Europe, so logistical development, railway development, and also how we can complement and supplement each other in cargo handling will be an area for a very wide range of co-operation.”

The Chief Executive also encouraged companies in Central Asia to leverage Hong Kong’s advantages under the “one country, two systems” principle.

“Under this unique principle, Hong Kong has its own economic, social, legal, legislative and judicial systems. We are the only common law jurisdiction in China. We have our own currency, with no capital or foreign exchange controls. We are, as well, a separate customs territory,” Mr Lee said.

Building on the positive outcomes from the delegation’s mission to Central Asia, Mr Lee welcomed the Deputy Prime Minister of Kazakhstan, Kanat Bozumbayev, to Hong Kong (June 10) and they both attended the Alatau City Investment Round Table (June 11).

Speaking at the event, Mr Lee said Hong Kong could contribute to the future success of Kazakhstan’s innovative, high-tech Alatau City in three concrete ways: as a gateway to global capital; a gateway to the Chinese Mainland and the Greater Bay Area; and as a partner in talent and technology.

“We share a development vision with Alatau City and Kazakhstan,” Mr Lee said, “Today, right here, right now, is a golden opportunity to bring our two economies closer together.”

He looked forward to Hong Kong and Kazakhstan achieving complementary advantages and co-ordinated development across different sectors and welcomed enterprises in Kazakhstan to make good use of Hong Kong’s premier financial and innovation and technology platforms, as well as its world-leading professional services, to explore more business opportunities.

 

 

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