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Cassava Technologies Secures USD 310 Million in Funding and Completes Business Reorganization

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Cassava Technologies

This funding is a key part of Cassava’s plan to strengthen its balance sheet, drive sustainable profitable growth, and cement its position as a global technology company of African heritage

LONDON, United Kingdom, December 17, 2024/APO Group/ — 

Cassava Technologies (Cassava) (www.CassavaTechnologies.com), a global technology leader of African heritage, proudly announces three significant milestones: a substantial equity injection, the successful completion of its South African Rand (ZAR) debt refinancing, and the finalization of its legal reorganization. These strategic initiatives position Cassava for robust growth underpinned by a strong balance sheet.

Cassava has closed an equity investment round of $90 million with participation from U.S. International Development Finance Corporation (DFC), Finnish Fund for Industrial Cooperation (Finnfund), and Google LLC. This funding is a key part of Cassava’s plan to strengthen its balance sheet, drive sustainable profitable growth, and cement its position as a global technology company of African heritage.

The conclusion of this equity round coincides with the successful reorganization of Cassava’s business to create an integrated digital solutions platform. This platform provides Broadband Connectivity, Co-location (data centres), Cloud, Cybersecurity, Compute (AI), and Payment services across more than 30 markets in Africa, the Middle East, India, and Latin America.

We are excited to announce these significant achievements, which collectively strengthen our financial position

Additionally, Liquid Intelligent Technologies, a business of Cassava Technologies, has successfully signed new facilities to refinance its South African Rand term loan on a multi-tenor basis. The new facilities, equivalent to USD 220 million in South African Rands, are being provided by Standard Bank of South Africa, Rand Merchant Bank, Nedbank of South Africa, and International Finance Corporation (IFC).

“We are excited to announce these significant achievements, which collectively strengthen our financial position and are a powerful testament to the vision of our founder and Group Chairman, Strive Masiyiwa, and the dedication and commitment of our teams across the Group,” said Hardy Pemhiwa, President and Group CEO of Cassava. “The closing of this equity round, completion of our ZAR debt refinancing, and reorganization represent more than just capital – it’s a pivotal milestone that we expect to unlock immense value and catalyze the further expansion of our digital infrastructure and services to bridge the digital divide on the continent”.

With the addition of DFC, Google LLC, and Finnfund, Cassava’s impressive roster of shareholders includes Econet Group, British International Investment (BII), Public Investment Corporation (PIC), Royal Bafokeng Holdings (RBH), Africa-Export Import Bank (Afreximbank/FEDA), and Gateway Capital.

Cassava Technologies has built a strong portfolio of business units comprising Liquid Intelligent Technologies, Africa Data Centres, Liquid C2, Cassava.ai, and Sasai Fintech, all of which are leaders in their respective sectors. This integrated platform of business units enables the Group to fulfill its vision of a digitally connected future that leaves no African behind.

Distributed by APO Group on behalf of Cassava Technologies.

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What to Expect at Angola Oil & Gas 2025

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As Angola marks 50 years of independence, Angola Oil & Gas returns in 2025 with an expanded multi-track program, a larger exhibition space, a dedicated deal room and a pre-conference technical agenda

LUANDA, Angola, April 2, 2025/APO Group/ –With a $60 billion upstream investment pipeline, a 2025 licensing round and restructured block opportunities, Angola is positioning itself as the premier destination for upstream investors. Meanwhile, new downstream projects are opening up financing opportunities for technology and capital providers. Against this backdrop, the Angola Oil & Gas (AOG) conference and exhibition returns for its sixth edition from September 3-4 in Luanda, bringing together industry leaders to explore investment opportunities, forge collaborations and drive Angola’s oil and gas sector forward. Here is what to expect from this year’s edition:

Celebrating 50 Years of Angola

Taking place on the eve of Angola’s 50th anniversary of independence, AOG 2025 will celebrate five decades of growth in the country’s oil and gas sector. By reflecting on past successes, challenges and lessons learned, the event will not only highlight Angola’s profitability and potential, but also lay the groundwork for future investment and development.

Multi-Track Agenda

AOG 2025 offers a dynamic multi-track agenda designed to cater to all segments of the oil and gas value chain. Topics range from upstream exploration and production, to downstream refinery and petrochemical advancements, to regulatory and policy frameworks, and more. Keynote presentations and panel discussions will also provide insights into Angola’s latest licensing round and emerging opportunities in the oil and gas sector.

Pre-Conference Program

Leading up to the main event, AOG 2025 introduces an expanded pre-conference program, including specialized technical workshops and training sessions led by global energy experts. Designed for engineers, geologists, project managers and energy financiers, these sessions will explore cutting-edge advancements in drilling technologies, reservoir management, digital transformation and sustainable energy practices. To take part in the pre-conference program, contact sales@energycapitalpower.com

Dedicated Deal Room

A centerpiece of AOG 2025 is the exclusive Deal Room, designed as a high-impact ‘Dragon’s Den’-style platform where companies, service providers, SMEs and technology firms can showcase their solutions to investors, project developers and government representatives. This setup fosters direct engagement, driving collaboration and deal-making.

Expanded Exhibition

AOG 2025 will feature an expanded exhibition space, spotlighting the latest technologies, services and innovations shaping the oil and gas industry. Exhibitors will gain access to unparalleled brand exposure, senior decision-makers, high-value networking and targeted lead generation. The exhibition serves as a vital platform for companies looking to increase visibility and forge new business relationships.

Networking Prospects

As Angola’s largest oil and gas industry event, AOG 2025 welcomes the participation of over 2,500 attendees from 40 countries and 450 organizations. The event unites the entire oil and gas value chain, connecting upstream exploration and production to downstream infrastructure and services to finance, policy and technology. Delegates will have the unique opportunity to strengthen cross-sector collaboration and grow their brand in one of Africa’s most exciting oil and gas markets.

Secure Your Place at AOG 2025

Don’t miss the chance to engage with one of Africa’s largest oil and gas markets. Join the AOG 2025 conference today and be a part of the discussion on turning Angola’s oil and gas industry into a fuel for long-term, sustainable economic development. AOG 2025 offers a range of participating opportunities, including sponsorships, exhibition, speaking slots and delegation prospects. Visit www.AngolaOilandGas.com for more information.

AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

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

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Equinix Strengthens Commitment to Nigeria’s Digital Economy with New LG2.3 Data Center Expansion

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Equinix remains steadfast in its mission to enable secure, scalable, and sustainable digital growth for economies across the world

LAGOS, Nigeria, April 2, 2025/APO Group/ –Equinix, Inc. (Nasdaq: EQIX) (www.Equinix.com), the world’s digital infrastructure company™, has officially opened its latest data center expansion in Lagos. Called LG2.3, the facility will support Nigeria’s growing digital transformation efforts, providing state-of-the-art colocation and secure interconnection solutions which will empower businesses across the region.  It also signifies Equinix’s unwavering dedication to advancing Nigeria’s position in the global digital economy, reinforcing the company’s commitment to the region.

As part of the inauguration, Bruce Owen, President of EMEA at Equinix, along with other Equinix executives, led the ribbon-cutting ceremony at the newly expanded site. In addition to an official visit to the Governor of Lagos State, Equinix hosted an exclusive customer engagement event, bringing together key customers and partners from Nigeria’s business and technology sectors. Attendees discussed shared successes and Equinix’s role in facilitating digital transformation, while also connecting directly with Bruce Owen for insights into how Equinix’s solutions drive innovation and business agility in the region.

Clear demonstration of our continued commitments to invest and grow digital infrastructure that will benefit the many thousands of businesses

Equinix executives also took part in a tree-planting ceremony, symbolising Equinix’s continued investment in sustainable initiatives across the globe and highlighting the company’s broader goal of reducing its carbon footprint while supporting greener practices across its operations worldwide.

Speaking about the expansion, Bruce Owen, President of EMEA at Equinix said “Nigeria is a crucial market for Equinix. Today’s opening is a clear demonstration of our continued commitments to invest and grow digital infrastructure that will benefit the many thousands of businesses in Nigeria and on the continent as a whole. I am deeply encouraged by the enthusiastic partnerships and innovations emerging from this dynamic region, which continue to inspire our commitment to Nigeria’s digital and sustainable future.”

Adding to this, Wole Abu, Managing Director of Equinix West Africa, highlighted the critical role of data centers in driving economic growth stating “Data centers continue to play a pivotal role in driving economic development in Nigeria, serving as critical infrastructure that supports digital transformation and economic growth. As governments and enterprises increasingly acknowledge their significance, global demand for data center capacity is poised to rise. While Africa’s demand for data solutions is still evolving compared to more mature markets, the continent is demonstrating strong potential for digital adoption and innovation. To meet this growing need, Equinix is actively advancing three major data center projects in Nigeria, with future expansion plans for Ghana, Côte d’Ivoire, and South Africa.”

Equinix remains steadfast in its mission to enable secure, scalable, and sustainable digital growth for economies across the world.

Distributed by APO Group on behalf of Equinix.

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Angolan Government Launches Tender for Concession of Passenger and Cargo Terminals in the Ports of Cabinda and Soyo

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Within 40 working days after the publication of the public tender notice in Jornal de Angola, investors interested in developing and optimizing the operation of these public assets can submit their proposals

LUANDA, Angola, April 1, 2025/APO Group/ —The Government of Angola launched this Wednesday, in Soyo, Zaire province, the Public Tender for the Concession of the Operation of Port Services in the Maritime Passenger and Cargo Terminals of the Port of Cabinda and in the River Passenger and Cargo Terminals of the Port of Soyo. This strategic initiative aims to strengthen regional logistics, improve mobility and boost the country’s economic growth.  

The process initiated today arises within the scope of Presidential Order No. 210/23, of August 29, which authorizes the opening of the tender for the award of concession contracts for the management, operation and maintenance of these terminals, for a period of 20 years.

Within 40 working days after the publication of the public tender notice in Jornal de Angola, investors interested in developing and optimizing the operation of these public assets can submit their proposals, in accordance with the requirements and factors set out in the documents of the procedure defined by the Ministry of Transport.

Connected to Luanda and ports in neighboring countries, Cabinda and Soyo are central hubs in maritime and river trade in the northern region, linking cities, populations and companies from different sectors, including oil.

In addition to the development of the cabotage sector in Northern Angola, the management of the concession will allow the creation of jobs, the improvement of freight and passenger transport logistics, and a better use of existing resources, ensuring a more competitive and sustainable operation, in line with efficiency and sustainability policies in the transport sector. in Angola.

The launching ceremony of the Tender for the Concession of the Passenger and Cargo Terminals of the Ports of Cabinda and Soyo was chaired by the Secretary of State for Civil Aviation, Maritime and Port Sectors, Rui Carreira.

More information about the competitors and proposals is available on the website https://www.Mintrans-Tenders.ao

Distributed by APO Group on behalf of Ministry of Transport of Angola

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