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Africa’s Business Heroes Prize Competition Announces 2022 Winners

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Africa’s Business Heroes

Entrepreneurs hailing from Tanzania, Kenya and Egypt were in the top three following final pitching session in the Grand Finale

JOHANNESBURG, South Africa, November 21, 2022/APO Group/ — 

The Africa’s Business Heroes (ABH) Prize Competition (www.AfricaBusinessHeroes.org), a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy, announced this year’s winners during a hybrid Grand Finale held in Johannesburg, South Africa that was live broadcasted to a global audience. Elia Timotheo from Tanzania, Tesh Mbaabu from Kenya and Nadia Gamal El Din from Egypt were named first, second and third prize winners, respectively. The first prize winner received a US$300,000 grant to accelerate his business growth further.

The top three Africa’s Business Heroes for 2022 are:

1st – winning $300,000 – Elia Timotheo, Founder and CEO of East Africa Fruits Co. (Tanzania)

2nd – winning $250,000 – Tesh Mbaabu, Co-Founder and CEO of Marketforce Technologies (Kenya)

3rd – winning $150,000 – Nadia Gamal El Din, Founder and CEO of Rahet Bally (Egypt)

“I’d like to thank the ABH team for working with us along the journey, and my fellow Heroes for being there for me. I especially want to bring this victory back to my team as I would not have been where I am now without them. More significantly, the award is meant to demonstrate to my fellow Tanzanians that entrepreneurship is the way forward and that food sustainability is attainable for all young Africans if we have the courage to make things happen,” says Elia Timotheo, Founder and CEO of East Africa Fruits Co., a food distributor that leverages data and technology to create efficiencies for farmers and consumers while reducing food waste.

Tesh Mbaabu was also chosen as the winner of the “People’s Choice” award, which was newly introduced this year to encourage audiences to support their favorite Hero among the top ten finalists through online voting.

“The winners of the 2022 Africa’s Business Heroes competition embody the incredible entrepreneurial spirit in the region. The judges recognized them for their leadership, passion, and ability to drive positive impact across Africa through their businesses. Despite the unprecedented challenges of the past two years, these entrepreneurs have inspired us all with their resilience and unwavering commitment to their businesses and communities,” said Jason Pau, Executive Director of International Programs, Jack Ma Foundation.

The finalists other than the top three will each receive US$100,000 in prize funding, and an additional US$10,000 will be allocated to each of the top ten finalists for immersive training program(s) and community gathering activities.

Despite the unprecedented challenges of the past two years, these entrepreneurs have inspired us all with their resilience and unwavering commitment to their businesses

The ten finalists of this year’s competition were chosen from an initial pool of over 21,000 applications from all 54 African countries after six months’ rigorous evaluation by over 300 judges.

Over 7,000 viewers from across the globe watched the Grand Finale live online, following the finalists as they pitched their businesses to a final panel of esteemed judges: Ibukun Awosika, Founder and CEO of The Chair Centre Group, Victor Williams, CEO of NBA Africa, and Joe Tsai, Executive Vice Chairman of Alibaba Group.

The Grand Finale judges were impressed with the caliber of the finalists and their businesses, commenting:

“Congratulations to all the finalists and winners of this year’s ABH competition. Once again, I am privileged to take part in the judging panel and to be able to put a spotlight on the important work being done by trailblazing entrepreneurs on the African continent. We hope to see the businesses of these outstanding entrepreneurs flourish into bigger and better enterprises that will stimulate socio-economic development beyond their local markets,” said Ibukun Awosika, Founder and CEO of The Chair Centre Group.

“Congratulations to all the finalists and the winners of this year’s ABH competition. Entrepreneurship is more than just building a successful business; it takes true grit and passion to create and seize opportunities where they don’t always exist. These exceptional entrepreneurs are all worthy winners and I’m excited to see how they will continue to drive progress in their respective markets, and across the African continent,” said Victor Williams, CEO of NBA Africa.

“The ABH competition is an incredible opportunity to see the vigorous entrepreneurship taking place on the African continent. This year’s winners are role models of entrepreneurship from the standpoint of changing people’s lives and creating opportunities for people to transform society with the use of technology. We believe their contribution will be huge if they can inspire more entrepreneurialism across the continent,” said Joe Tsai, Executive Vice Chairman of Alibaba Group.

The Africa’s Business Heroes Prize Competition aims to help foster an inclusive and vibrant entrepreneurial ecosystem in Africa. The annual competition, now in its fourth year, shines a spotlight on talented African entrepreneurs working to make a difference in their communities and helping build a more sustainable, inclusive future. The ABH competition is grassroots oriented as well as age, gender and sector agnostic.

This year’s official competition slogan, “It’s African Time,” was a bold call to action for talented African entrepreneurs to redefine stereotypes associated with “African time” as creating local impact and building a better, more inclusive future through their businesses.

The latest edition of Africa’s Business Heroes TV show will air in 2023. The show will follow the finalists in their exciting journey to the 2022 ABH Grand Finale and features their on-stage pitches and behind-the-scenes moments from the Competition. The full video playback of the 2022 ABH Grand Finale is currently available on ABH’s official YouTube (https://bit.ly/3hTqFA5) channel.

Pre-registration for the 2023 ABH prize will open in December 2022 and the 2023 ABH application will open in early 2023. 

Distributed by APO Group on behalf of Africa’s Business Heroes (ABH).

Energy

Venezuela Energy Week Confirms 19 August Date for Houston Industry Showcase

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Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the Houston Industry Showcase will take place on 19 August, convening U.S. energy leaders ahead of Venezuela Energy Week 2027 in Caracas

HOUSTON, United States of America, August 10, 2026/APO Group/ –The organizers of Venezuela Energy Week (VEW) have confirmed that the Houston Industry Showcase will take place on 19 August 2026 at The Post Oak Hotel. Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the event will bring together U.S. energy companies, investors and policymakers to explore commercial opportunities ahead of Venezuela Energy Week 2027 in Caracas in February.

The showcase will feature Minister of Hydrocarbons Paula Henao as a keynote speaker, providing an update on Venezuela’s energy priorities, investment agenda and opportunities for international partnership. Her participation underscores the country’s commitment to strengthening engagement with global industry as it seeks to expand production and unlock new upstream investment.

Bringing together exploration and production companies, independent operators, oilfield service providers, engineering firms, technology companies and financial institutions, the Houston Industry Showcase will examine opportunities across exploration, production optimization, infrastructure rehabilitation and field development.

As Venezuela works to increase oil and gas production, demand is expected to grow for the technical expertise of U.S. service providers in drilling, well intervention, completion services, production optimization, artificial lift, digital oilfield technologies and infrastructure rehabilitation. Houston-based industry leaders – including SLB, Halliburton, Baker Hughes, Weatherford and a broad network of EPC contractors, equipment manufacturers and specialized service companies – are well positioned to support the modernization of mature fields, improve operational efficiency and deliver the technologies and services needed for future upstream projects.

The Houston event follows a successful Industry Showcase in London, which brought together international investors, operators and energy service companies to explore Venezuela’s evolving investment landscape. Building on that momentum, the Houston edition will deepen engagement with the U.S. energy industry and strengthen commercial dialogue ahead of Venezuela Energy Week 2027.

Venezuela Energy Week – the country’s largest energy investment platform to date – has been confirmed for 22–25 February 2027 in Caracas. Organized by Energy Capital & Power, the event will bring together government leaders, investors and industry stakeholders from across the global energy value chain.

To register for the Houston Industry Showcase on August 19, visit https://apo-opa.co/4g0TncR. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2027 in Caracas, contact info@venezuelaenergyweek.com.

Supporting Venezuela’s Earthquake Recovery
Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4hkvteE).

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

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Islamic Development Bank Institute (IsDBI) Secures New Patent for Smart Stabilization System from Intellectual Property Office of Singapore

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IsDBI

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility

JEDDAH, Saudi Arabia, August 10, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce that the Intellectual Property Office of Singapore (IPOS) has granted a new patent for its innovative Smart Stabilization System.

 

The patent was granted on 10 July 2026 under Singapore Patent No. 10202250873B for the invention titled “A Computer Network Stabilization System and Method.” The patent application was filed on 1 September 2022 and was formally granted following a comprehensive review process.

This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility. Leveraging sophisticated algorithms and advanced simulation models, the system is designed to anticipate supply and demand imbalances and implement programmable stabilization measures before they escalate into market disruptions.

Unlike traditional stabilization mechanisms that rely on capital reserves, buffer funds, or external interventions, the Smart Stabilization System introduces a next-generation framework for achieving autonomous market stabilization through proactive and programmed stabilization mechanisms. By incorporating distributed ledger technology and cryptographic trust mechanisms, the platform enhances transparency, trust, and operational resilience for digital asset and commodity markets.

The successful patent grant reflects IsDBI’s growing contribution to technological innovation and its commitment to developing knowledge-based solutions that address contemporary economic and development challenges.

Since filing the patent application back in 2022, the Institute has continued to advance the Smart Stabilization System through ongoing development and testing, aimed to expand its practical applications and support future capitalization opportunities. These advancements have positioned the system as a potentially transformative solution for enhancing stability and resilience in increasingly digital and interconnected economies.

Commenting on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said, “The grant of this patent by the Intellectual Property Office of Singapore further strengthens the Institute’s position as a leader in developing innovative knowledge-based solutions that leverage modern technologies to address complex development challenges. This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development.”

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

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

 

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