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Africa Finance Corporation and Solid Minerals Development Fund of Nigeria Forge Strategic Partnership to Derisk Mining Industry

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Africa Finance Corporation

Through this partnership, AFC and SMDF aim to bridge this gap to unlock the immense potential of Nigeria’s mineral resources

ABUJA, Nigeria, October 17, 2023/APO Group/ — 

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure provider and the Solid Minerals Development Fund of Nigeria (SMDF), a Nigerian mining-focused development fund,  today on the sidelines of Nigerian Mining Week in Abuja, announced a transformative partnership aimed at derisking Nigeria’s mining sector and scaling up artisanal miners in the country to an industrial level of operation. This strategic collaboration, which follows a cooperation agreement signed by AFC and SMDF earlier in the year, is set to address the dearth of expertise and funding for early-stage mining projects, paving the way for these projects to reach financial close and full-scale operations.

Nigeria is rich in mineral resources and has immense potential for mining development. However, the lack of available expertise and funding has posed challenges in advancing mining projects. Through this partnership, AFC and SMDF aim to bridge this gap to unlock the immense potential of Nigeria’s mineral resources. By pooling their resources and expertise, these two leading institutions will not only provide investment opportunities but a joint project development facility that includes technical support, ensuring that promising mining projects receive the guidance and funding they need to thrive.

One of the key deliverables of this collaboration is the AFC-SMDF Investment Manual. This comprehensive document will offer project sponsors a clear understanding of how the joint project development facility operates, its objectives, and the specific requirements for project consideration. The manual will also feature an appraisal checklist outlining the criteria that both institutions require for project evaluation.

To streamline the project submission process, AFC and SMDF have created a dedicated portal for project sponsors. This portal will be managed by PricewaterhouseCoopers (PWC), a renowned global professional services firm, working with renowned Nigerian consulting firms, to screen and conduct initial evaluations. Subsequently, projects will be submitted to AFC and SMDF for further assessment.

This partnership between AFC and SMDF is a pivotal step toward harnessing Nigeria’s mineral wealth and positioning the nation as a key player in the global mining industry

To further improve the mining sector in Nigeria, AFC and SMDF have also engaged Wood Mackenzie, a leading global research and consulting firm, to undertake a comprehensive study assessing the feasibility of establishing a midstream processing plant in Nigeria. This study will focus on critical minerals such as Lithium, Nickel, and other energy transition metals abundant in the country. By evaluating the profitability and return potential of midstream and downstream mineral processing projects, the study will create a robust foundation for AFC and SMDF to deploy their balance sheets in order to further de-risk the investment landscape for potential investors.

Commenting on this groundbreaking partnership, Samaila Zubairu, President & CEO of AFC, stated, “The world needs African resources to fully transition to clean-energy in the long term, and more investment is required to sustainably mine and develop in-continent processing capacity for commodities that are critical to the energy transition. In this regard, we are excited to partner with the Solid Minerals Development Fund of Nigeria to derisk the country’s mining sector. This collaboration signifies our commitment to unlock the vast potential of Nigeria’s mineral resources by leveraging the wealth of our renewable energy sources for local processing, thus fostering sustainable development and economic properity in Nigeria and Africa.”

Fatima Umaru Shinkafi, Executive Secretary and CEO of Solid Minerals Development Fund, said: “We are pleased to deepen our cooperation with the AFC through collaborating on these strategic initiatives to support the Nigerian mining industry. I am incredibly grateful for the Honourable Minister’s support, which has been critical to developing these initiatives. These initiatives align with the Renewed Hope Agenda and the Ministry’s Transformation Agenda of leveraging the mining sector to catalyze economic growth, competitiveness, and job creation.”

This partnership between AFC and SMDF is a pivotal step toward harnessing Nigeria’s mineral wealth and positioning the nation as a key player in the global mining industry. Since 2014, the Corporation has invested more than $900 million in mining projects across Africa including the Segilola Gold Mine in Osun, Nigeria, the Karowe Diamond mine in Botswana and the Bon Ami bauxite project in north-western Guineas.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

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Canon releases LI7070SAC / LI7070SAM Complementary Metal Oxide Semiconductor (CMOS) sensors

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Canon

The LI7070SAC can capture full-HD video even in low-illumination environments measuring 0.08 lux, whereas the LI7070SAM operates at a minimum of 0.04 lux

DUBAI, United Arab Emirates, November 25, 2024/APO Group/ — 

Canon Inc. (Canon-CNA.com) and Canon Marketing Japan Inc. announced today the release of two new 1/1.8-inch CMOS sensors, the LI7070SAC (color) and LI7070SAM (monochrome), with approximately 2.12 (1,936 x 1,096) effective megapixels, for security, industrial, and medical uses. They boast enhanced near-infrared shooting capability, which is increasingly in demand, in addition to a high-dynamic-range capturing function for operating in environments with significant contrasts between light and dark, and high-sensitivity shooting capability under low-illumination environments.

In recent years, there has been growing demand for near-infrared imaging capabilities applied to surveillance cameras and industrial cameras. Accordingly, there has been an increase in uses for CMOS sensors with near-infrared capability including monitoring traffic and industrial applications. The near-infrared sensitivity of the LI7070SAC has been increased by roughly 2.4 times [1] in comparison to the LI7050 [2] (released in October 2020) which similarly measures 1/1.8 inches and features approximately 2.12 effective megapixels. This enables monitoring in dark environments which cannot be performed by the naked eye. The sensors can also be applied for industrial usages such as inspections in dark areas and medical uses such as fluorescein angiography.

In addition to the aforementioned near-infrared capability, both sensors feature an HDR drive mode that extends 120dB through a double exposure method which layers two images with differing exposure times. This makes it possible to capture images in high quality while restricting overexposure and crushed shadows in conditions where there is a large difference in brightness, such as when illuminating a light for inspections within tunnels. The sensor achieves a range of 75dB even when operating during normal drive operation.

The outstanding low-illumination shooting capability of these sensors further enhances their applicability. Although the sensor size is compact, the pixel composition has been engineered to enable high sensitivity, while suppressing noise level. The LI7070SAC can capture full-HD video even in low-illumination environments measuring 0.08 lux, whereas the LI7070SAM operates at a minimum of 0.04 lux [3], making them particularly suitable for nighttime surveillance of public facilities, roads, and transportation facilities, etc., in addition to cameras equipped to underwater drones and cameras used in microscopes, which require compact image sensors with a high degree of sensitivity.


[1] The quantum efficiency of the LI7070SAC at a wavelength of 850 nm (near-infrared wavelength) is 33%, whereas that of LI7050 is 14%.

[2] Colour sensor only

[3] The estimated illumination level from a full moon is 0.3 lux, while that of a crescent moon is 0.01 lux.

Distributed by APO Group on behalf of Canon Central and North Africa (CCNA).

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Islamic Corporation for the Development of the Private Sector (ICD) Leads Key Discussions on Sustainable Development and Green Finance at Conference of the Parties (COP29)

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COP29

On November 18, ICD organized a session on financing women and youth-led businesses in post-conflict regions

BAKU, Azerbaijan, November 25, 2024/APO Group/ — 

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), part of the Islamic Development Bank (IsDB) Group, hosted several high-level sessions at COP29 in Baku, focusing on sustainable economic development, climate finance, and the private sector’s role in green growth.

On November 18, ICD organized a session on financing women and youth-led businesses in post-conflict regions. Eng. Hani Sani Sonbol, Acting CEO of ICD, emphasized the importance of inclusive financing for long-term peace. Remarks were also made by Ms. Nigar Arpadarai, COP29 High-Level Champion, and Dr. Emin Huseynov, Special Representative of the President of Azerbaijan. The panel featured experts such as Dr. Sahar Nasr, Executive Director of the Zakat Fund, Ms. Jhale Hajiyeva, Executive Director of AMFA Azerbaijan, Dr Elvin Afandi, Division Manager of ICD and Mr. Dayanat Sadullayev, President of AMCHAM addressing the barriers women and youth face in accessing finance.

ICD also hosted two other key sessions. On November 16, a panel discussed leveraging multilateral climate funds to support sustainable projects through public-private partnerships, featuring experts like Dr. Mohammed Alyami, General Manager of the Development Effectiveness Office at ICD, and David A. Dodd, CEO of the International Sustainability Resilience Center. On November 19, a session explored how financial institutions can promote green finance, with participants including Dr. Fatih Yilmaz, Senior Fellow at KAPSAR,Mr. Shahin Mahmudzade, Executive Director at the Central Bank of Azerbaijan, Dr Elvin Afandi , Division Manager of ICD and Mr Nabil Kadri, Managing Director of BNDES.

ICD’s participation at COP29 highlights its commitment to advancing sustainable development, green finance to private sector, and empowering marginalized business communities. Through collaborative initiatives, ICD continues to drive the role of the private sector in achieving global sustainability goals.

Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

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HELI Aims for #1 Position in Middle East and Africa with New Forklift Models and Strategic Investments

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HELI

Company Expands Regional Footprint, Hosts 40 Regional Partners at Exclusive Distributors’ Conference in Dubai

DUBAI, United Arab Emirates, November 22, 2024/APO Group/ — 

HELI (www.HELIChina.net), China’s leading forklift manufacturer and a global player in the material handling industry, has unveiled three new forklift models at the opening of its UAE distributor Hala’s state-of-the-art showroom and workshop in Dubai Industrial City.

This launch marks another significant step in HELI’s ongoing expansion in the Middle East and Africa (MEA) region, as the company continues its drive to become the leading forklift brand across the region.

HELI’s mission, Lifting the Future, is driven by a vision to become a global leader, and a singular aim to be ranked among the world’s Top 5 forklift manufacturers. Founded in 1958, HELI has consistently delivered innovative, intelligent logistics solutions, establishing itself as a global first-class integrator of industrial vehicles and intelligent logistics systems. With a people-oriented approach and a commitment to repaying society through high-quality products, HELI’s brand proposition—Empower the World—reflects the company’s dedication to empowering industries worldwide.

Ranked among the top ten forklift manufacturers globally since 2006, HELI’s streamlined strategies in capital, industrial, and innovation chains have fueled rapid growth. Today, HELI’s products are sold in over 150 countries, and in the MEA region, the company has already secured the leading position in 15 African countries, with an expanding presence in the Middle East. With continued investment in new product launches and strategic partnerships, HELI is on track to achieve its ambitious goal of becoming the leading forklift brand across the region.

The new HELI G Series 2.0-ton lithium battery forklift, specifically engineered for the beverage industry, was also introduced at the event. Building on the proven reliability and advanced technology of HELI’s G Series, this model incorporates several innovative features tailored to the unique demands of beverage logistics. These include a flexible adjustable cab height for enhanced operator visibility and safety, an intelligent steering system that prevents sharp turns for smoother operations, and an active safety protection system that decelerates or brakes when personnel approach danger zones, reducing workplace risks. Designed with beverage industry needs in mind, it includes features like single/double pallet forks and a 360-degree vision optimization system for better maneuverability.

The G3 Series forklifts, available in 2-3.5 Ton and 5-10 Ton models, offer key shared advantages that enhance efficiency, safety, and performance. Both models are energy-efficient, with the 2-3.5 Ton version reducing consumption by 15% and the 5-10 Ton featuring a low-noise system. They incorporate advanced safety features, such as pedestrian detection, AI-powered collision warnings, and an optional reversing camera, ensuring a safer work environment. Designed for high performance and reliability, both models require minimal maintenance and are built to handle demanding industrial tasks. The 2-3.5 Ton version offers an enhanced load capacity up to 4.5 meters, while the 5-10 Ton excels in climbing performance. Additionally, ergonomic features like reduced steering effort and low-noise operation improve operator comfort and productivity.

With the increasing focus on electrification, we are providing customers with clean energy alternatives that align with global sustainability goals

Together, the G3 Series forklifts deliver a reliable, cost-effective solution for businesses seeking safety, efficiency, and durability in their material handling equipment.

“These new models reflect HELI’s commitment to addressing the growing demand for sustainable and efficient material handling solutions in the region. With the increasing focus on electrification, we are providing customers with clean energy alternatives that align with global sustainability goals and empowering our partners to achieve #1 status in their respective markets,” said Guan Lei, General Manager of HELI Middle East FZCO.

During the showroom opening, Mathew Abraham, Managing Director of Hala, HELI’s UAE distributor, emphasized the potential of the partnership, noting, “With HELI’s world-class technology and our deep understanding of the regional market, we are well-positioned to offer comprehensive solutions, ensuring the highest standards of after-sales support and sustainability.”

HELI’s growth in the region is underscored by its ongoing investment in infrastructure. The company is currently leasing between 6,000 and 8,000 square meters of space in the Middle East to expand its service capabilities and provide quicker, localized support. These efforts are aligned with HELI’s strategic goals and reinforce its position as a key player in the material handling and logistics sectors.

At a closed-door distributors conference held this week, 40 partners from across the region gathered to discuss HELI’s product innovations and regional growth strategies. The conference highlighted the company’s vision for the future and its strong partnerships with regional distributors. The theme of the conference, “Together We Thrive, Limits We Defy,” reflected the shared ambition to work harder with determination, pushing past boundaries and striving for excellence.

Recent industry data from the World Industrial Truck Statistics (WITS) shows HELI’s growing presence in the UAE, where it is now the second-largest forklift brand. This growth, coupled with a rising shift toward electrification, further positions HELI as a leader in the MEA region. The company’s success in Africa, where it holds the #1 position in 15 countries, demonstrates the strength of its offering and its ability to meet local market needs.

Chen Xianyou, Vice General Manager of Anhui HELI Co., Ltd, emphasized, “Our continued investment in the MEA region is a testament to our long-term vision. We are focused on achieving sustainable growth, backed by our strong after-sales service network, and building lasting relationships with our regional partners.”

With its leadership position in China for 33 consecutive years and a growing footprint in the Middle East and Africa, HELI is poised to become a globally recognized brand in the material handling industry.

Distributed by APO Group on behalf of HELI.

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