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Afreximbank launches new entity to promote large scale trade in value-added goods

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Africa

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has today launched the African Trade and Distribution Company (ATDC) to catalyse large scale trade in raw materials, minerals and value-added products from across Africa.

Afreximbank, through the Fund for Export Development in Africa (FEDA), established ATDC in collaboration with Arise Integrated Industrial Platforms (Arise IIP), Equitane DMCC and the African Continental Free Trade Area (AfCFTA) Secretariat. The new entity has already secured a US$1 billion funding pledge from Afreximbank to invest in aggregation of value-added goods, support logistics and distribution networks as well as financing its subsidiaries’ business operations.

The President and Chairman of the Board of Directors of Afreximbank, Prof. Benedict Oramah officiated the operational launch of ATDC in an event held during the ongoing Intra-Africa Trade Fair 2025 (IATF2025) in Algiers, Algeria. This was in the presence of the Acting Prime Minister of the People’s Democratic Republic of Algeria, H.E. Sifi Ghrieb and other heads of government and ministers from African and Caribbean countries.

ATMIN is committed to supporting the monetisation of Africa’s abundant fossil fuel resources ahead of the global energy transition

Also unveiled during the launch was ATDC’s flagship subsidiary, ATDC Minerals (ATMIN), dedicated to trading and financing minerals and hydrocarbons.

Prof. Benedict Oramah said: “Africa is rich in resources; but historical dynamics have skewed our trade outwards. Traditionally, the continent has relied on others to add value to its commodities and minerals as well as to trade them. Through ATDC and ATMIN, we aim to close the loop and to take back control of how our commodities and minerals in global Africa are produced and traded across value chains by integrating them in local economies to benefit more people.”

On the margins of the official launch ceremony, ATDC signed deals with several firms across the continent spanning logistics, minerals, agricultural produce, among others. These include: a collaboration with Arise Integrated Industrial Platforms (ARISE IIP) to supply feedstock to its operating companies in various special economic zones; a co-investment partnership with BSMART Technology Limited to establish digitally integrated logistics hubs in key African ports trade repos with Export Trading Group (ETG), KK Kingdom Nigeria Limited and Sunbeth Global Concepts Limited. ATDC also agreed on terms for joint ventures with CBZ Holdings and Nigeria Commodity Exchange for setting up national ATDCs in Zimbabwe and Nigeria respectively. At the same time, ATMIN announced landmark deals to the tune of about US$3 billion which included oil lifting arrangements with Nigeria National Petroleum Company Limited and Roxzen Nigeria Limited.

Speaking during the event, the CEO of ATDC, Abdul Aziz Ba said: “We look forward to cultivating a robust trading ecosystem across Africa that integrates with global markets for shared prosperity through impactful partnerships and effective logistics. Through this, we will transform Intra-African trade by driving the continent’s transition from export of raw materials and minerals to value added products and last mile distribution. ATDC is investing in expanding production and processing capacity, establishing connections across regional value chains and to markets, and delivering effective distribution channels”.

The CEO of ATMIN, Ajay Oommen noted: “ATMIN is committed to supporting the monetisation of Africa’s abundant fossil fuel resources ahead of the global energy transition. We aim to foster stronger Intra-African trade, drive value addition, and streamline supply chains to ensure that a significant share of this value is retained within the continent.”

IATF2025 is ongoing until September 10, 2025. It is the fourth edition of IATF, the biennial event co-convened by Afreximbank, the African Union Commission and the African Continental Free Trade Area (AfCFTA) Secretariat and hosted by the People’s Democratic Republic of Algeria. The last three editions of IATF have cumulatively generated over $118 billion in trade and investment deals and attracted more than 70,000 visitors and 4,500 exhibitors. IATF is a platform for businesses to showcase their goods and services to visitors and buyers while exploring opportunities and exchanging information. It aims to tap into opportunities from AfCFTA’s single market of over 1.4 billion people and GDP of over US$3.5 trillion.

Distributed by APO Group on behalf of Afreximbank.

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Paddles up! Hong Kong marks 50 Years of international dragon boat thrills

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HONG KONG SAR – Media OutReach Newswire – 25 June 2026 – With top teams from around the world gearing up for the hotly contested Hong Kong International Dragon Boat Races this weekend (June 27-28), participants and spectators can expect a bumper programme of action, fun and entertainment along the Victoria Harbour waterfront in Tsim Sha Tsui – one of the city’s most vibrant districts known for its iconic skyline views and tourist attractions.

There is much to celebrate. This year marks the 50th anniversary of the Hong Kong International Dragon Boat Races as well as 35th anniversary of both the co-organiser, Hong Kong China Dragon Boat Association, and the sanctioning body, International Dragon Boat Federation (IDBF). The IDBF added to the occasion by announcing earlier this year the relocation of its headquarters back to Hong Kong.

Riding on the wave of excitement, the organiser, Hong Kong Tourism Board (HKTB), extended the annual Hong Kong International Dragon Boat Festival period to 13 days (June 19 – July 1), beginning on the historic Tuen Ng Festival (Dragon Boat Festival) and concluding on July 1, which is the 29th anniversary of the Establishment of the Hong Kong Special Administrative Region (HKSAR).

As the headline international flagship event of “Hong Kong Summer Fun”, Dr Peter Lam, Chairman of the HKTB, said the Festival not only ran over a longer period, but also featured a stronger race line-up and more vibrant entertainment programmes than in previous years, offering an experience found only in Hong Kong for locals and visitors, while showcasing Hong Kong’s position as the Events Capital of Asia.

More than 220 teams from 16 countries and regions will compete for top honours in the world‑renowned setting of Victoria Harbour. This year’s event also introduces the special 50th Anniversary Fishermen Invitational Cup and the 50th Anniversary Championship, paying tribute to the traditional spirit of dragon boat racing.

Visitors will be able to enjoy a series of thematic activities along the Avenue of Stars, including a 22-metre traditional wooden dragon boat, a dragon boat-themed installation in collaboration with the new film Minions & Monsters, live music performances and a line-up of intangible cultural heritage performances, including martial art Wing Chun, Chinese juggling diabolo, traditional musical instruments ruan and guzheng.

Highlighting Hong Kong’s reputation as the birthplace of modern international dragon boat racing, as well as its strengths as a global hub city, the IDBF has taken a significant step in its long‑term global strategy with the formal incorporation of International Dragon Boat Federation Limited in Hong Kong on 29 April 2026.

“Incorporation in Hong Kong is not a conclusion, but a beginning. It anchors our Federation in the city where our international story started and strengthens our ability to serve our members and the global dragon boat family,” said Claudio Schermi, President of the IDBF.

As part of this new chapter, the IDBF has applied for funding under “the Pilot Scheme to Strengthen the Presence of Hong Kong in Asian and International Sports Associations”, which was recently introduced by the HKSAR Government’s Culture, Sports and Tourism Bureau. The Pilot Scheme is an initiative designed to support Asian and international sports associations establishing their headquarters or regional headquarters in the city.

The Dragon Boat Festival has a long and colourful history dating back more than two thousand years. Held each year on the fifth day of the fifth lunar month, the day commemorates the patriotic poet Qu Yuan.

According to legend, Qu committed suicide for his beliefs by throwing himself into the Luo River. The villagers nearby raced out on their dragon boats, banging gongs and drums to scare away fish and other underwater creatures to stop them from eating Qu’s body. The tradition continues to this day, with dragon boat competitions taking place at locations across Hong Kong, each reflecting the unique characteristics of its neighbourhood.

Traditional dragon boat treats feature prominently during the festival, notably zongzi. These glutinous rice dumplings, traditionally wrapped in bamboo leaves and steamed or boiled, are widely available during the festive period.

 

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Hong Kong: Independent committee to conduct comprehensive and in-depth review following major fire

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HONG KONG SAR – Media OutReach Newswire – 2 December 2025 – The Hong Kong Special Administrative Region (HKSAR) Government is going all out to support victims and investigate the cause of a massive fire that engulfed seven out of eight high-rise residential blocks at Wang Fuk Court in Tai Po, Hong Kong, on November 26.

The tragedy prompted an outpouring of support from the public and urgent actions from the HKSAR Government to provide all-round assistance to the victims while launching a thorough investigation into the cause of the blaze.

Government support across multiple areas

John Lee, Chief Executive of the HKSAR, emphasised that the Government attaches high importance to the well-being of affected residents, focusing not only on immediate relief aid but also their various long-term living needs.

As a top priority, the Government immediately started providing support across multiple areas, including financial aid, accommodation, medical assistance, and counselling.

Regarding financial support, the Government has been offering an emergency cash subsidy of HK$10,000 (US$1,282) per affected household, with more than 1,900 households registering for the subsidy.

Moreover, the Support Fund for Wang Fuk Court in Tai Po has been set up with an initial HK$300 million (US$38 million) injection from the Government. The fund has so far raised a total of HK$2.3 billion (US$294 million), including HK$2 billion (US$256 million) from donations. The fund will be used to assist the residents in rebuilding their homes and providing long-term and sustained support, including families of each deceased victim receiving HK$200,000 (US$25,641) as a token of solidarity as well as HK$50,000 (US$6,410) to cover funeral costs.

As for foreign domestic helpers who lost their life in the incident, the next of kin of each deceased helper will receive roughly HK$800,000 (US$102,564) from the Government, including a one-off financial assistance of HK$250,000 (US$32,051) and the statutory compensation of over HK$500,000 (US$64,102).

The Government will also provide four special subsidies, namely the injury grant (HK$50,000 to HK$100,000, i.e. US$6,410 to US$12,820), the student grant (HK$20,000, i.e. US$2,564), the subsidy for workers (HK$20,000, i.e. US$2,564) and the subsidy for foreign domestic helpers (HK$20,000, i.e. US$2,564).

So far, more than 1,000 residents have been accommodated in youth hostels/camps or hotel rooms and another 1,600 residents have moved into transitional housing units. Furthermore, two shelters remain in operation for residents in need.

Criminal and fire investigations

Initial investigations have raised serious concerns in a number of areas with more than a dozen individuals from various construction and engineering consultancy companies arrested on suspicion of manslaughter in connection with the tragedy.

Various building materials, including scaffolding netting, foam boards and canvas, have been seized from the scene for further testing and investigation. The Police and the Independent Commission Against Corruption have established a joint task force to conduct a comprehensive criminal investigation.

Independent committee to conduct review

Mr Lee has also announced the establishment of an independent committee, headed by a judge, to conduct a comprehensive and in-depth review.

“I call for a thorough investigation and serious reform. We’ll overcome the obstacles of vested interests, pursue accountability, regardless of who he or she is. We must uncover the truth, ensure that justice is served, let the deceased rest in peace and provide comfort to the living.

“While criminal and fire investigations are proceeding continuously, I will establish an independent committee to conduct a comprehensive and in-depth review to reform the building works system and prevent similar tragedies from occurring in the future. To ensure the committee’s independence and credibility, I will invite a judge to lead its work. I shall liaise with him to define its detailed terms of reference, and at the same time, I will explore ways to assist in supporting the committee’s operational efficiency such that the Government can provide more detailed information or carry out some work on its direction so as to enable it to complete its task efficiently and submit a report early to the Chief Executive with recommendations to assist the Government to make the reform,” Mr Lee said on December 2.

Meanwhile, the Chief Executive announced that the upcoming Legislative Council General Election would go ahead as planned on December 7.

“Only by enabling the new Legislative Council members to assume their duties promptly can we advance post-disaster reconstruction, follow-up support, recovery efforts, and the necessary legislative reviews and reforms more swiftly and effectively,” Mr Lee said. “Many initiatives require Legislative Council deliberation, funding approval, and law-making before implementation. This represents the most responsible approach towards Hong Kong’s future.”

 

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Eskom’s Alfred Seema Joins African Energy Chamber (AEC) G20 Forum Amid Focus on Improved Generation, Strategic Partnerships

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African Energy Chamber

Eskom is driving a Generation Recovery Plan under efforts to enhance energy security in South Africa

Alfred Seema, Group Executive: Strategic Delivery Unit of South Africa’s state-owned power utility Eskom, has been confirmed as a speaker at the African Energy Chamber’s G20 Africa Energy Investment Forum (https://EnergyChamber.org/) – taking place November 21 in Johannesburg. Seema’s participation comes as the company accelerates a General Recovery Plan, striving to enhance energy security and generation capacity across the country. His participation is expected to unlock new pathways for global partnerships as the country pursues a just energy transition.

 

Eskom has been at the forefront of addressing South Africa’s loadshedding crisis through targeted policies. The company launched a Load Reduction Elimination Strategy in September 2025, offering a clear roadmap to strengthen the country’s distribution network and address high-risk isolated areas. The program takes a three-phased approach, including expanding free basic electricity access from the current 485,000 households to 2.1 million households; accelerating the rollout of smart meters, with 6.2 million planned over the next three years; and deploying distributed energy resources, with 250 set to be installed over the next five years. Eskom is also rolling out a Generation Recovery Plan, aimed at strengthening energy supply. Since August 2025, generation performance has improved significantly under the plan, with the Energy Availability Factor reaching 70%. Between October 1 and 23 alone, the Unplanned Capability Loss Factor reduced to 22.8%, reflecting a marginal improvement compared to the same period in 2024.

South Africa’s path to energy security depends on embracing a truly diversified mix

Looking ahead, Eskom’s generation strategy focuses on a dual approach of improving the existing fleet and transitioning to cleaner sources of fuel. Aligned with South Africa’s Integrated Resource Plan (IRP), the company aims to develop a balanced energy mix that incorporates all sources of energy. The IRP 2025 offers a clear investment roadmap for the power sector, targeting 105 GW of new generation capacity by 2039. This includes 5.3 GW of new nuclear capacity – expandable to 10 GW – as well as 34 GW of onshore wind, 25 GW of utility-scale solar, 8.2 GW of storage and 16 GW of gas-to-power. The plan also envisages the development of a Clean-Coal Technologies Demonstration Plan by 2030. Eskom is currently reviewing the IRP 2025 and will publish its own updated strategic plan.

The generation strategy has already begun to yield positive results. In November 2025, Eskom announced that its Koeberg Nuclear Power Station has secured a 20-year license extension, with both of its units expected to deliver 1,860 MW of baseload power until 2045. This follows the announcement of simplified compliance and registration processes for customers who generate their own electricity through Small-Scale Embedded Generation, enabling private players to invest in generation infrastructure. In September 2025, Eskom achieved commercial operations at Unit 6 at the Kusile Power Station, marking the end of construction of the Medupi and Kusile coal plants. Together, the two facilities deliver up to 9,600 MW of power. These projects form a cornerstone of Eskom’s generation strategy, signaling the company’s commitment to diversified energy development in South Africa.

Meanwhile, as part of a strategic restructuring, the South African government has begun the process of unbundling Eskom by separating the company into three entities: generation, transmission and distribution. While operating under Eskom, the companies will function as separate entities under efforts to strengthen efficiency, attract private investment and enhance competition across the sector. To date, the transmission entity – the National Transmission Company of South Africa – has been established and began operations in July 2024. However, to successfully complete the unbundling process, challenges associated with financial viability need to be addressed. The G20 Forum supports these goals be connecting global capital to South African power projects and partners.

“South Africa’s path to energy security depends on embracing a truly diversified mix. Eskom generation plan marks a decisive shift toward balanced growth. Through platforms like the G20 Africa Energy Investment Forum, we can attract the right partners and capital to strengthen South Africa’s generation base and ensure every household and industry benefits from affordable, dependable power,” says NJ Ayuk, Executive Chairman of the African Energy Chamber.

To register for the Forum click here (https://apo-opa.co/47TjSwG).

Distributed by APO Group on behalf of African Energy Chamber.

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