Business
Cameroon’s Caisse Nationale de Prévoyance Sociale (CNPS) and SBM in Mauritius invest in Africa Finance Corporation‘s impact infrastructure mission
Published
3 years agoon
SBM joins a long list of investment-grade rated shareholders of AFC and is the second investor from Mauritius, following a subscription from the National Pensions Fund and Savings Fund in 2022
LAGOS, Nigeria, June 20, 2023/APO Group/ —
Africa Finance Corporation (www.AfricaFC.org), the leading infrastructure solutions provider in Africa, has received new equity investments from Caisse Nationale de Prévoyance Sociale (CNPS), Cameroon’s public pension fund, and SBM Capital Market Securities Ltd., one of the leading investment-grade financial services providers in Mauritius, further expanding its shareholder base.
The investments mark a trend of African institutional investors—including pension funds, insurance companies and financial institutions—diversifying their portfolios from traditional asset classes such as bonds and listed equities to work with AFC on closing the continent’s infrastructure gap and unleash prosperity.
CNPS is the biggest pension fund in Cameroon, tripling its profits over the last five years; while SBM Capital Market Securities is a subsidiary of SBM Holdings Ltd., one of the largest and most diversified financial services providers in Mauritius, with nearly US$8.3 billion in assets under management. SBM joins a long list of investment-grade rated shareholders of AFC and is the second investor from Mauritius, following a subscription from the National Pensions Fund and Savings Fund in 2022.
Institutional investors in AFC include Public Investment Corporation (PIC) of South Africa, the Seychelles Pension Fund and the National Pension Fund (NPF) and National Savings Fund (NSF) of Mauritius. AFC offers shareholders risk-adjusted exposure to African infrastructure, with strong returns, low correlation to traditional asset classes, long-term stable and predictable cash flows, inflation hedging properties, and low default rates. The Corporation recorded an outstanding performance in its latest financial year, growing total assets by 23% to US$10.5 billion and increasing profit by 36% to US$285.9 million.
Our investment will contribute to AFC’s efforts in fostering more robust pan-African collaboration to accelerate inclusive and sustainable economic growth across the continent
Diversifying the shareholder base with institutional investors like CNPS and SBM provides a significant boost to AFC’s capital profile, enhancing the Corporation’s capacity to deliver de-risked, transformational infrastructure projects. Recent projects include a joint development agreement with Trans Connexion Congo (TCC) to build mass transit in Kinshasa to improve mobility across the DRC, and the development of a Special Economic Zone (SEZ) with ARISE IIP and the government of Sierra Leone to maximize value capture and import substitution across core sectors.
In Cameroon, AFC has invested over US$300 million to date in infrastructure projects including the Nachtigal Hydro Power Company, a 420MW power station that will boost Cameroon’s installed capacity by 30% and slash the cost of power generation, and the modernization and expansion of Cameroon’s national refinery, Société Nationale de Raffinage (Sonara). Along with the equity investment, CNPS has signed an MOU with AFC to collaborate on identifying, developing and financing infrastructure and industrial projects in Cameroon.
The investment from SBM builds on existing ties between AFC and Mauritius, the domicile for subsidiaries AFC Equity Investment Limited and AFC Capital Partners. As of 2022, AFC Equity Investment Limited held more than US$1 billion of the Corporation’s equity investments, while AFC Capital Partners is the Corporation’s asset management company, focused on infrastructure and climate-resilient investments with an initial US$500 million target fund size.
The Director General of the CNPS, Noël Alain Olivier Mekulu Mvondo Akame, commented: “CNPS’s investment in AFC is in line with continued efforts to diversify our investment portfolio. We are proud to partner with a multilateral financial institution like AFC with an excellent track record of delivering transformational infrastructure projects with sustainable impact in Africa, whilst maintaining a prudent risk profile.”
Shailen Sreekeessoon, Executive Director and Chief Executive Officer of SBM (NBFC) Holdings Ltd., said: “We are delighted to partner with AFC, which has a proven history of leading innovative solutions for infrastructure and industrial development whilst creating strong values for its shareholders. Our investment will contribute to AFC’s efforts in fostering more robust pan-African collaboration to accelerate inclusive and sustainable economic growth across the continent. We are confident that this investment will help reinforce the partnership between our two institutions and look forward to a fruitful partnership ahead.”
Samaila Zubairu President & CEO, Africa Finance Corporation said: “African institutional investors play a critical role in mobilising the capital urgently needed for the continent’s development, so we warmly welcome CNPS and SBM Capital Market Securities as equity investors in AFC. This milestone is proof of AFC’s role as the partner of choice for infrastructure investment on the continent to deepen economic integration, enable import substitution, and develop Africa’s manufacturing and industrial capacity.”
AFC has been profitable every year since inception, growing from the initial seed capital of US$1.1 billion to a balance sheet size of about US$10.5 billion today. The Corporation’s A3 investment-grade rating from Moody’s has been reaffirmed nine years in a row, making AFC one of the highest-rated financial institutions in Africa. The Corporation has 40 member countries and has disbursed US$11.5 billion in critical infrastructure projects across Africa over the last 16 years of operation.
Distributed by APO Group on behalf of Africa Finance Corporation (AFC).
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Emirates and the Kenya Tourism Board sign partnership agreement to drive inbound tourism
Published
1 day agoon
September 18, 2026
Reinforcing the airline’s longstanding commitment in market, the partnership agreement supports Kenya’s ambition to be the most visited tourism destination in Africa by promoting the destination in key regions on the airline’s vast global network
The partnership agreement was signed by Adil Al Ghaith, Emirates’ Senior Vice President of Commercial Operations, Centre, and June Chepkemei, Chief Executive Officer of the Kenya Tourism Board, in the presence of Ambassador. (Professor.) Julius K. Bitok, CBS. Principal Secretary, State Department for Tourism, and Adnan Kazim, Deputy President and Chief Commercial Officer, Rashid Alardha, Vice President of Commercial Operations for Sub-Saharan Africa, Emirates and Christophe Leloup, Emirates’ Country Manager in Kenya, along with other senior officials.
Adil Al Ghaith said, “Kenya has been an important market for Emirates for over three decades, and our commitment goes much deeper than operations and connections. We’ve consistently invested in our presence in the market, working closely with travel trade partners and tourism stakeholders to stimulate inbound travel, and contribute positively to the global perception of Kenya. Nairobi remains one of the top 5 busiest gateways for Emirates in Africa, with significant traffic coming from UK and Europe, as well as the US. This partnership solidifies that longstanding commitment, enhancing our collaboration with the Kenya Tourism Board and the full, thriving tourism ecosystem across Nairobi and Kenya.”
We are delighted to partner with Emirates to strengthen Kenya’s global tourism profile and showcase the remarkable experiences our destination offers to travellers around the world
June Chepkemei said, “We are delighted to partner with Emirates to strengthen Kenya’s global tourism profile and showcase the remarkable experiences our destination offers to travellers around the world. Emirates’ extensive international network and strong reach in both established and emerging markets will help us build on the growing demand for Kenya and unlock new opportunities to attract more visitors. This collaboration reflects our shared commitment to promoting Kenya as a leading, diverse and unforgettable destination, while supporting the continued growth of inbound tourism and the many communities that benefit from it.”
Tourism is a key pillar in Kenya’s economy, creating thousands of employment opportunities and serving millions of tourists who visit the country each year. The Kenya Tourism Board has bold plans to establish Kenya as the most visited tourism destination in Africa, with a year-round calendar of diverse, sustainable and authentic experiences that appeal to a swathe of international visitors.
Under the framework of the partnership agreement, Emirates and KTB will explore joint initiatives to promote Kenya in key markets on the airline’s global network, showcasing the breadth of Kenya’s year-round tourism offering, and encourage more travellers to visit. The partners will also closely collaborate to develop programmes for trade partners and tour operators that educate and excite the industry, such as incentives, familiarisation trips and other marketing initiatives.
Last year, Emirates marked 30 years of operations to Nairobi and, during that tenure, has established deep-rooted ties with local communities and the travel trade ecosystem. Earlier this month, the airline’s tour operating arm, Emirates Holidays, signed a Memorandum of Understanding with the Kenya Association of Travel Agents to stimulate outbound travel by equipping over 300 travel agencies with enhanced product and network insight and competitive promotional opportunities.
Distributed by APO Group on behalf of The Emirates Group.
Business
Afreximbank and Development Bank of Southern Africa establish a Joint Project Preparation Facility to advance bankable projects in Southern Africa
Published
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September 18, 2026
Through the JPPF, the institutions will jointly originate, screen and prioritise projects and support the technical, financial and legal work required to address bankability constraints
The agreement is one of the first operational instruments to follow South Africa’s accession to the Afreximbank Establishment Agreement in February 2026. South Africa became Afreximbank’s 54th member state in February 2026, when the Bank also announced a US$ 8 billion Country Programme for the country. The agreement complements the Master Risk Participation Agreement signed by Afreximbank and DBSA in February 2026, extending the partnership upstream into project preparation. It also supports the objectives of South Africa’s National Development Plan 2030, SADC integration and implementation of the African Continental Free Trade Area (AfCFTA).
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Through this partnership with Afreximbank, we are leveraging our complementary strengths to improve project preparation
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Commenting on the agreement, Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development at Afreximbank said:
“Africa’s infrastructure challenge is not only about shortage of capital; it is also about shortage of projects prepared to the standard required by investors and lenders. This JPPF addresses this critical constraint. By combining Afreximbank’s trade and industrialisation mandate with DBSA’s infrastructure-development expertise, we will help move priority projects from concept to investment readiness and mobilise the larger pools of public, private and blended finance required for implementation. For South Africa and the wider Southern Africa region, this is how project preparation becomes a practical instrument for industrialisation, export growth and regional integration under the AfCFTA.”
Gregory Fyfe, Chief Investment Officer at DBSA, said:
“The Joint Project Preparation Facility represents a significant step towards strengthening the pipeline of bankable infrastructure and industrial projects across South Africa and the Southern African region. Through this partnership with Afreximbank, we are leveraging our complementary strengths to improve project preparation. This will unlock investment opportunities and accelerate the delivery of infrastructure that supports economic growth, industrialisation and regional integration. This initiative reflects DBSA’s commitment to infrastructure-led development and to enabling sustainable, long-term impact through well-prepared projects that attract both public and private sector investment.”
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Distributed by APO Group on behalf of Afreximbank.
Events
Advancing the Agentic World, Building a Solid Silicon Foundation
Published
1 day agoon
September 18, 2026
Key takeaways:
- Strategic focus: The rapid approach of an intelligent world is driving up demand for computing power. Huawei is focused on developing AI infrastructure, and is actively driving innovation in systems and architecture centered around SuperPoDs and SuperClusters. These efforts are aimed at building a solid silicon foundation for the intelligent world.
- Technological breakthroughs: Huawei unveiled the Atlas 960E SuperPoD, the first in the industry to use NPO. The company also launched an upgraded TaiShan 950 SuperPoD, as well as the OceanStor M900 (a memory context storage system). Interconnected with UnifiedBus, Huawei’s agentic SuperCluster can scale up to one million NPUs.
- Open ecosystems: Huawei is actively building out open computing ecosystems. To date, the Kunpeng ecosystem has attracted 4.16 million developers from around the world. CANN has moved to sustained, community-driven open-source development. Ascend now spans over 90 leading third-party open-source projects and is officially supported as a PyTorch accelerator backend.
SHANGHAI, CHINA – Media OutReach Newswire – 17 September 2026 – HUAWEI CONNECT 2026 kicked off today in Shanghai. The first keynote of the date was by David Wang, the Deputy Chairman of the Board and Rotating Chairman at Huawei. In his speech (Advancing the Agentic World, Building a Solid Silicon Foundation), Wang highlighted the work the company is doing alongside industry stakeholders to build powerful AI infrastructure, lay a solid computing foundation, and address the challenges and opportunities in the intelligent world to come.
AI is sweeping the world faster than any previous technological revolution. Today, foundation model parameters are rapidly approaching 10 trillion, and are projected to exceed 100 trillion by 2030. AI agents can now work on the same task continuously, for hours on end. By 2030, they will be able to handle tasks that span months.
In China alone, the average number of inference tokens consumed every day has surged to around 500 trillion, and is expected to reach quintillions (1018) by 2030.
On-device AI is also advancing rapidly. On-device models for smartphones have expanded from three billion parameters in 2024 to 30 billion today, and will push toward hundreds of billions in the near future.
These trends will set a much higher bar for the scale, performance, and reliability of underlying technical systems. Only by building powerful AI infrastructure can the industry lay a solid foundation for the future intelligent world.
An intelligent world is approaching – and faster than ever. To lead the charge into this new world, Huawei is laser-focused on building out AI infrastructure – the silicon foundation for the future to come.
In particular, Huawei’s AI strategy is centered on computing power, with a focus on monetizing hardware. The company is also sharpening its competitive edge through systems and architectural innovation. Centering these efforts on SuperPoDs and SuperClusters, the company aims to build a solid computing foundation and offer a new option for the world.
Huawei is a major contributor to open computing ecosystems, and will continue to support native training for mainstream foundation models on its systems, as well as supporting a vast range of models and applications.
For customers, Huawei provides flexible on-premises and cloud compute solutions for its customers to accelerate intelligent transformation across industries.
With diverse forms of compute, including solutions for micro-, low-tier, mid-range, and massive computing power – Huawei is driving the expansion of on-device and in-vehicle AI, making intelligence truly ubiquitous.
Additionally, Huawei is dedicated to building next-generation communications networks to bring readily available compute and intelligence to every person, home, and organization.
SuperPoDs gain broad consensus, with adoption growing in industries, academia, and research institutes
To date, over 1,000 Atlas 900 A3 SuperPoDs have been deployed, and Atlas 950 SuperPoD is seeing large-scale commercial use. While adoption continues to grow, SuperPoDs have gained broad acceptance across industry, academia, and research institutions as a key direction for AI infrastructure. Currently, a SuperPoD is explicitly defined as a computing system in which multiple computing nodes are tightly coupled through high-speed interconnect protocols, featuring unified memory addressing across physical nodes — functioning like a single logical computer.
SuperPoDs are the go-to choice for AI infrastructure buildout. Right now, 100k-NPU computing clusters have become the baseline for training SOTA models. However, traditional server architectures result in intra-cluster communications that account for over 40% of total training time, severely constraining Model FLOPs Utilization (MFU). Simulation results from Huawei’s Markov Lab show that a 100k-NPU cluster built with 4k-NPU SuperPoDs can deliver a 2.75x increase in MFU compared to a 100k-NPU cluster composed of 8-NPU servers.
11-chip UnifiedBus-powered portfolio for SuperPoDs and SuperClusters; the Atlas 960E SuperPoD –the industry’s first to use NPO
The Ascend series of chips is the most critical component in Huawei’s 11-chip UnifiedBus-powered portfolio for SuperPoDs and SuperClusters. Development on Ascend 960 has exceeded the company’s expectations, with performance doubling as planned. Ascend 960DT will be available in Q1 2027, three quarters ahead of the company’s original roadmap. And the Ascend 960PR will be ready in Q3 2027, one quarter ahead of schedule.
“We’re evolving our Ascend chip series on a one-generation-a-year cycle,” said Wang in his keynote. “In 2028 and 2029, we will roll out the Ascend 970 and 980 chips, respectively. Thanks to the Tau (τ) Scaling Law, not only will their compute specifications continue to double, but you can also expect to see huge improvements across the board in terms of memory bandwidth, memory capacity, interconnect bandwidth, and more.”
In addition to Ascend chips, Huawei has also developed a complete portfolio of chips for AI infrastructure, based on UnifiedBus, delivering key capabilities that cover computing, interconnect, storage, and management.
“SuperPoDs are designed to coordinate multiple NPUs through interconnect,” continued Wang. “We have developed a next-generation optical interconnect product based on near-packaged optics (NPO): the High-density Optical-interconnect-Node Engine (Hi-ONE).” Built on Huawei’s proprietary technologies, Hi-ONE has a multi-physics design for balancing optical, mechanical, electrical, electromagnetic, and thermal performance, realizing a transmission capacity of 7.2 Tbit/s per single engine.
“This is the industry’s first NPO product ready for mass production, delivering the largest transmission capacity. It is also the industry’s first NPO product with a built-in light source.”
This product combines high bandwidth and high reliability with low latency and low power consumption. This, coupled with UnifiedBus, will make it far easier to scale up SuperPoD interconnect systems.
Recently, Huawei submitted an implementation agreement (IA) on NPO to the Optical Internetworking Forum (OIF), a standards organization. The response from numerous industry partners has been widely positive. Huawei will continue its efforts to further refine the NPO industry ecosystem.
Using Ascend 960 chips and Hi-ONE, Huawei has developed the industry’s first NPO-based SuperPoDs: the Atlas 960E SuperPoDs. A single Atlas 960E SuperPoD can scale up to 4,096 NPUs, delivering 8 EFLOPS of FP8 compute performance, with up to 1 petabyte of HBM capacity. With 5,500 Hi-ONE units, this SuperPoD doesn’t need the 48,000 800G optical modules that would traditionally be required to connect all the NPUs. This cuts power consumption by over 550 kilowatts, while doubling the system’s fault-free operating time, achieving 99.8% system availability.
Combining the upgraded TaiShan 950 SuperPoD and context memory storage to power an ultrascale cluster with 1 million NPUs
As SOTA models scale to 10 trillion parameters, training and inference can no longer rely on a single AI server or AI SuperPoD – they require a more complex computing system. This system includes AI SuperPoDs, general-purpose SuperPoDs, and an interconnect system that features peer-to-peer interconnect and zero protocol conversion. For inference, including a petabyte-scale KV cache cluster is also a must.
To meet these demands, Huawei has fully upgraded its TaiShan 950 SuperPoD. Powered by UnifiedBus all-optical networking, this new SuperPoD supports up to 4,096 nodes with a unified memory pool of up to 256 TB. This setup significantly improves agent performance. For sandbox-intensive workloads, startup speeds for 100,000 sandboxes are 30 times faster than traditional servers, and sandbox density can be improved by an additional 25%. For vector search across 10 billion x 1,000-dimensional vectors, this SuperPoD delivers twice the search efficiency of traditional servers.
Huawei has also launched OceanStor M900 – a UnifiedBus-powered context memory storage cluster that delivers multi-tier KV caching for agent-heavy and longer-context workloads. Designed for agentic inference, this cluster supports one-hop direct access and provides a petabyte-scale KV cache for the L3.5 layer. OceanStor M900 also uses hybrid media and an optimized retention algorithm, extending SSD read/write lifespan by 16-fold. This ensures a higher KV cache hit rate alongside long-term stability and reliability from the ground up.
Combining its strengths in computing and communications, Huawei has built a brand-new agentic SuperCluster to accelerate training and inference for 10-trillion-parameter models. This SuperCluster uses UnifiedBus to consolidate multiple interconnect protocols into a single unified protocol, significantly reducing protocol conversion overhead. This delivers peer-to-peer interconnect between subsystems like Ascend SuperPoDs, Kunpeng SuperPoDs, and KV cache clusters. The SuperCluster also comes with a multi-tier, high-bandwidth, and large-capacity storage system that enables direct single-hop access for all KV cache tiers.
With a two-tier, four-plane Clos architecture, the SuperCluster can interconnect up to 512,000 NPUs. When combined with a multi-rail topology, this cluster can support up to one million NPUs.
One of Huawei’s core strategies: Going open source and open system to build out computing ecosystems
The Kunpeng ecosystem is driving digital and intelligent innovation across a wide range of industries. To date, the Kunpeng ecosystem has attracted over 4.16 million developers and more than 7,200 ecosystem partners from around the globe. The community currently supports over 560 open-source projects worldwide. openEuler has seen more than 20 million installations, securing the largest share in China’s server OS market.
The Ascend ecosystem has reached a new inflection point. The Compute Architecture for Neural Networks (CANN) is the foundation of the Ascend ecosystem. Today, CANN has moved to sustained, community-driven open-source development, which has brought the platform from usable to user-friendly.
External CANN developers now comprise 61% of all CANN developers, outnumbering internal developers for the first time. With over 5,200 monthly active developers, the CANN community has become the most vibrant open-source community in China. What’s more, over 40 models have been natively pre-trained on Ascend and CANN, making it the only proven domestic stack capable of model pre-training.
Ascend now supports over 90 leading third-party open-source projects, including PyTorch, Triton, vLLM, and veRL. With strong support from the Linux Foundation, Ascend is the first official Chinese compute platform on PyTorch’s website. This gives developers around the world ready access to new innovations in the Ascend ecosystem.
Diverse forms of compute for ubiquitous on-device and in-vehicle AI
AI is expanding faster into all kinds of devices. To deliver an unparalleled AI experience across all scenarios, Huawei will continue to strengthen capabilities in four key areas:
First, Huawei will combine Kirin and Ascend chips to drive self-reliance and autonomy in on-device compute.
Second, Huawei will bring together Pangu models and third-party models to make on-device intelligence better and easier to use.
Third, HarmonyOS, as an Agent OS for ubiquitous intelligence, will be completely redefined from the ground up – spanning system architecture, how it operates, and interaction logic – to enable human-agent collaboration.
Fourth, Huawei will keep cultivating a diverse AI ecosystem, which is the foundation for its system agent Celia to thrive.
Huawei plans to build four on-device computing platforms: for AI phones, AI PCs, vehicles, and homes. Through cross-device and device-cloud compute synergy, Huawei will be able to provide distributed swarm intelligence, delivering integrated and continuous intelligent services across personal mobile, office, vehicle, and home spaces, ultimately bringing intelligence to every person and every space.
Building next-generation communications that prioritize readily available compute, because without networks, all compute is siloed
Next-generation communications networks are crucial for fully unleashing the value of AI compute. We are driving the upgrade to networks that, in addition to connecting people, will prioritize delivering readily available compute. These networks will be underpinned by 5G-A/6G, 10-gigabit optical networks, and multi-tier, low-latency bearer networks, delivering intelligent connectivity across data centers, the edge, and devices.
Concluding his keynote, Wang expressed that AI “may well be the final technological revolution in human history,” noting that its impact is deeper and broader, and coming faster than anyone could have ever imagined. “No single company,” he said, “can build an intelligent world alone.”
He stressed Huawei’s ongoing commitments moving forward:
Huawei will remain committed to building a solid silicon foundation to make computing power readily accessible to all.
The company will continue to open source its software, helping developers unleash their full potential.
It will continue to embrace a wide range of models and applications, unlocking value in every form.
“And we will continue to work together to drive shared success, growing together with our customers and partners around the world,” Wang concluded. “Let’s work together to build a fully connected, intelligent world.”
Themed Advancing the Agentic World, HUAWEI CONNECT 2026 will delve into AI across three dimensions: strategy, technology, and ecosystems. You can expect an in-depth look at our latest strategic initiatives, and we’ll also be unveiling our all-new digital and intelligent infrastructure products, scenario-specific solutions for industries, and development tools. The event will run from September 17 to 19 at the Shanghai World Expo Exhibition & Convention Center and Shanghai Expo Center. For more information, please visit HUAWEI CONNECT 2026 online at www.huawei.com/en/events/huaweiconnect
FAQs:
Q1: What is a SuperPoD, and why is it becoming increasingly important?
A SuperPoD is a computing system in which multiple computing nodes are tightly coupled through high-speed interconnect, enabling them to share unified memory and function like a single computer. As foundation model training and inference continue to scale up, SuperPoDs can reduce communications overhead in large-scale clusters and improve Model FLOPs Utilization (MFU). They have gained broad consensus across industry, academia, and research institutes in AI infrastructure, and are the go-to choice for AI infrastructure buildout.
Q2: What makes the Atlas 960E SuperPoDs special?
The Atlas 960E SuperPoD is the industry’s first NPO-based SuperPoD. A single Atlas 960E SuperPoD can scale up to 4,096 NPUs, delivering 8 EFLOPS of FP8 compute performance, with up to 1 petabyte of HBM capacity. With 5,500 Hi-ONE units, this SuperPoD doesn’t need the 48,000 800G optical modules that would traditionally be required to connect all the NPUs. This cuts power consumption by over 550 kilowatts, while doubling the system’s fault-free operating time, achieving 99.8% system availability. Atlas 960E SuperPoDs can provide efficient and reliable computing power for large-scale AI training and inference.
Q3: What is NPO, and what role does Hi-ONE play in a SuperPoD?
NPO stands for Near-Packaged Optics, an optical interconnect technology designed for high-speed connectivity. Hi-ONE, developed by Huawei, is the industry’s first NPO product ready for mass production. It delivers the largest transmission capacity at 7.2 Tbit/s and is currently the industry’s only NPO product with a built-in light source. Hi-ONE, coupled with UnifiedBus, will make it far easier to scale up SuperPoD interconnect systems.
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