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GITEX GLOBAL, Expand North Star 2023 centre world’s attention on booming Artificial intelligence (AI) economy

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GITEX GLOBAL

World’s largest tech and start-up show gathers best minds, advanced companies for the year’s most anticipated dialogue into a new tech paradigm

DUBAI, United Arab Emirates, October 10, 2023/APO Group/ — 

Dubai will unleash a new era of global AI dominance next week, as the UAE hosts the world’s largest tech and start-up show, converging the best minds, future-focused governments, and most advanced companies to redraw the boundaries of the AI economy and shape the future of the globe’s next big technology shift.  

For the first time, GITEX GLOBAL – independently rated globally as the best tech show in the world – shall take place in two mega venues as its 43rd edition prepares to welcome 6,000 exhibitors and 180,000 tech executives from 180 countries from 16-20 October 2023 at the Dubai World Trade Centre.

Its powerhouse start-up show, Expand North Star hosted by the Dubai Chamber of Digital Economy runs from 15-18 October 2023 at the stunning new Dubai Harbour venue. More than 1,800 start-ups across the events will explore rising opportunities in one of the world’s most agile, diversified, and technology-enabled digital economies.

The blockbuster duo, organised by DWTC, comprise a combined 2.7 million sq. ft of exhibition space, a 40 percent increase over the previous year, inviting the world to the year’s most anticipated dialogue and deep scrutiny into a new tech paradigm experimenting in AI, the cloud, Web 3.0, and a sustainable digital economy.

His Excellency Omar Sultan Al Olama, UAE Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, and Chairman of Dubai Chamber of Digital Economy, spoke at the official GITEX GLOBAL and Expand North Star 2023 press conference today.

“We are working with AI policymakers to ensure that the world is better for everyone everywhere,” said H.E. Al Olama, who was named by TIME Magazine as one of the world’s top 100 most influential people in artificial intelligence in 2023. “GITEX GLOBAL is where the best and brightest minds come together to shape the future of technology. Dubai is a global market and through GITEX GLOBAL, we are pushing the envelope by showcasing new technologies including the transformational power of AI to inspire everyone and shape a better future.”

“We’ve seen a huge increase in the number of participants at GITEX GLOBAL and this growth really is a testament to the UAE’s status as a global leader in technology.”

Expand North Star 2023 accelerates global VC investment revival

The influx of global interest in the UAE will see Expand North Star host the largest line-up of 1,000 investors from 70 countries with $1 trillion under management, as they look to ramp up the global VC start-up investment revival.

It arrives as the UAE companies clinched the lion’s share of US$4 billion in start-up funding across the Middle East and North Africa in 2022, fetching investments to the tune of $1.85 billion across 250 deals, a five percent increase in value over the previous year. 

“Expand North Star reflects Dubai’s strong commitment to enabling ambitious start-ups to thrive in the emirate,” said Saeed Al Gergawi, Vice President of Dubai Chamber of Digital Economy (DCDE), host of Expand North Star.

“We look forward to introducing several initiatives at the event including India Central, the biggest showcase of Indian start-ups ever assembled outside India; Asia Fast 100 and Africa Fast 100, the event’s largest showcases bringing together more than 100 leading start-ups from each continent for an intensive programme of conferences, networking events, and dedicated pitch competitions; and Launchpad Dubai, a first-of-its-kind initiative providing local and international tech businesses including start-ups, scaleups, and unicorns opportunities to accelerate their business and kickstart their operations in Dubai through a one-stop experience at DCDE’s booth at Expand North Star.

“Hosting this event enables us to harness the full potential of the digital economy by connecting stakeholders from the government sector, investors, and accelerators with the world’s leading industry experts, innovators, and tech start-ups,” added Al Gergawi.

“By bringing the global start-up ecosystem together in the emirate, Expand North Star supports our drive to transform Dubai into one of the world’s leading digital economies in line with the ambitions of the Dubai Economic Agenda (D33).”

Intense demand spurs new tech agendas, government participation rises

GITEX GLOBAL 2023 will see the highest involvement of public private partnerships yet as more than 250 government entities intensify their futuristic digital city visions and strategic collaborations amplified by bold commitments toward digital excellence.

The annual five-day event will deep dive into the biggest reflections of the AI era with the return of AI Everything – the year’s largest showcase of AI solutions and concepts – and the Global DevSlam coder and developer meet-up, while the hyper popular GITEX Cyber Valley will take the fight directly to the dark cyber-criminal underworld. 

“We have not seen this hyper level of fervour and anticipation of GITEX GLOBAL in recent years,” said Trixie LohMirmand, Executive Vice President of Events Management at Dubai World Trade Centre. “GITEX is synonymous with AI this year, especially when excitement over the emergence of generative AI is shadowed by a sense of trepidation and cautiousness.

“We are aggregating the year’s largest AI in Everything showcase and the most powerful AI architects across businesses. GITEX GLOBAL has not merely expanded in scale. It has totally upsized the big AI ethical conversation and commercial exploration to new dimensions.”

The dilemma to encourage innovation whilst balancing regulation and controls have perplexed policy makers. AI’s meteoric development has triggered debates on the vulnerability of systems to cyber-attacks which has prompted the genesis of GITEX Cyber Valley to corral the AI security agenda.

The expansion of the global digital economy towards the deep tech revolution and green tech world missions has also propelled the genesis of GITEX CTO World Congress, the year’s largest gathering of tech architects and disruptors; GITEX Impact on advancing a net zero carbon future through green technologies; and Future Urbanism Expo moulding the future smart cities of the world.

Democratising AI, empowering the planet

More than 1,800 start-ups across the events will explore rising opportunities in one of the world’s most agile, diversified, and technology-enabled digital economies

Tech titans spearheading the AI charge at GITEX GLOBAL 2023 include regular exhibitors Huawei and Microsoft, while cloud-based software giant Salesforce debuts.  They’ll be among more than 1,000 AI-infused companies at the year’s largest AI showcase and summit revealing how the new force of supercharged tech stacks are advancing economies and transforming lives, governments, businesses, and society.

Microsoft, which in 2023 injected $10 billion of fresh capital into OpenAI, the creator of the ubiquitous large language model-based chatbot ChatGPT, will deliver a powerhouse showcase of the company’s commitment to democratising AI and empowering everyone on the planet to achieve more.

The American tech giant has been working with governments, businesses, developers, students, and start-ups so that they can build their own AI applications to drive sustainable economic growth and improve the lives of citizens across the region.

“We envision a future where AI is enhancing the capabilities of people across all professions to find innovative ways of solving pressing challenges and creating a positive impact in their communities,” said Naim Yazbeck, General Manager of Microsoft UAE.

“We’re proud to highlight this vision at GITEX GLOBAL, where we are showcasing our latest AI solutions that not only improve productivity and streamline business processes across the public sector and all industries, but also unleash creativity and drive innovation.”

Huawei will reaffirm its commitment at GITEX GLOBAL to help all industries make the most of intelligence, digitalisation, and the strategic opportunities presented by AI, supported by cloud, advanced network capabilities, and digital power technologies.

Dr. Alaa Elshimy, Managing Director & Senior Vice President, Huawei Enterprise Business Group, Middle East & Central Asia Region, said: “AI is the key to unlocking the full potential of digital transformation and creating new value for our customers and partners. At Huawei, we are committed to providing innovative and intelligent ICT solutions that advance industry transformation, enhance cybersecurity, and support sustainability goals.”

Salesforce, the global leader in customer relationship management (CRM), will meanwhile fuel the AI mania with its new Einstein 1 AI assistant for all CRM enterprise applications.  Thierry Nicault, Area Vice President and General Manager of Salesforce Middle East, said attendees will see first-hand how the new AI platform enables organisations to safely connect any data and build AI-powered apps with low-code no-code capability. 

“It’s important for organisations in the UAE and the wider MENA region to recognise the importance of Generative AI and its role in digital transformation, enabling them to develop digital strategies that promote efficiency, innovation, and resilience,” said Nicault.

“Organisations must build a single source of truth, and integrate every consumer encounter to deliver tailored experiences, and make their entire business smarter, faster, and more productive. This will open new opportunities and help them to achieve growth.”

Influential UAE challengers enter the epic AI innovation race  

UAE entities have also entered the epic AI innovation race, accelerating government economic diversification strategies centred around bold digital transformation agendas.  G42, Advanced Technology Research Council (ATRC) and Masdar City are among the UAE-based research and tech innovation hubs at GITEX GLOBAL 2023 shaping the future of AI and its transformative application across all spheres of life.

The Technology Innovation Institute (TII), the applied-research arm of ATRC last month released Falcon 180B, the world’s most powerful open source AI model impressing technologists across the globe.  Its sister company ASPIRE is now stepping into the future mobility landscape, as it prepares to unveil for the first time at GITEX GLOBAL 2023 its autonomous racing car that clocks speeds in excess of 300km/h.

The Dallara Super Formula car is a flagship racing car of ASPIRE’s Abu Dhabi Autonomous Racing League (A2RL), launching in April 2024 as a series of high-profile autonomous races including racing cars, drones and dune buggies.  The A2RL, according to Dr. Tom McCarthy, Executive Director at ASPIRE, will bring together the exciting impact of AI on humanity and its incredible potential for autonomy.

“A2RL, the Abu Dhabi Autonomous Racing League, is a ground-breaking initiative that has captured the interest of industry experts and university researchers,” said Dr. McCarthy. “We’re thrilled to unveil the autonomous racing car model at GITEX GLOBAL, which is built on the renowned Italian manufacturer Dallara’s Super Formula car.

“It has been adapted with an autonomy stack, allowing the vehicle to perceive its environment and race autonomously at the Abu Dhabi Yas Marina Circuit.  The introduction of A2RL marks a significant milestone for Abu Dhabi and the wider UAE, setting the stage for disruptive innovations in mobility through the medium of extreme sports.”

Elsewhere, G42, a champion of AI and cloud technologies, is returning to GITEX GLOBAL 2023 to contribute to the dynamic dialogue on AI under the theme ‘Imagination in Action.’ “Imagination in Action isn’t just a slogan but a reflection of the active steps we’ve taken to transforming theoretical AI concepts into tangible solutions, commented Hasan Al Hosani, Managing Director of Bayanat, a G42 company.

“Visitors to our stand will have an opportunity to explore our portfolio companies’ cutting-edge innovations across multiple domains, from data centres, supercomputing and government services, to healthcare, BFSI and smart mobility.

“Together, we look forward to forging meaningful connections, igniting collaborative efforts, and driving societal advancement through the combination of imagination and technology. I’m personally very excited to welcome visitors and introduce them to Bayanat’s latest advancements in the Geospatial AI domain.”

Masdar City, another debut exhibitor at GITEX GLOBAL 2023, will meanwhile elevate its mission to realise greener, more sustainable urban living in the UAE, highlighted through several innovations at its stand, including three leading-edge net-zero energy buildings currently under construction.

“Masdar City is, at its heart, a place of innovation,” said Mohamed Al Breiki, Executive Director of Sustainable Real Estate at Masdar City.  “We’ve been pioneering sustainable urban development for more than 15 years, and sustainable development depends heavily on innovation and technology.

“This is the foundation of our free zone, where more than 1,000 companies, from start-ups to multi-nationals, are ushering us into the future. We’ll be highlighting several innovations at our stand, including the three leading-edge net-zero energy buildings we currently have under construction, and some of the climate-change solutions that Masdar City start-ups have created.”

Power-packed conference line-up explores 2023’s pressing tech challenges    

GITEX Global and Expand North Star will also feature 21 conference tracks with more than 1,500 expert speakers from 80-plus countries delivering 900 hours of immersive mind-stretching content, as they unpack and demystify 2023’s pressing tech challenges and controversies, from delivering the world’s fasters AI supercomputer, or driving the green energy revolution, to scaling autonomous driving tech, and the assessing the impact of AI tools on cybersecurity.

More information is available at www.GITEX.com and www.ExpandNorthStar.com.

Distributed by APO Group on behalf of GITEX Global.

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Verdant Capital Hybrid Fund completes USD 2 million mezzanine investment in UsPlus

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8 hours ago

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January 30, 2025

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UsPlus

The investment will support UsPlus’ expansion of working capital solutions tailored to Small to Medium Enterprises (SMEs) operating across various critical sectors in South Africa

JOHANNESBURG, South Africa, January 30, 2025/APO Group/ — 

Verdant Capital (www.Verdant-Cap.com) is pleased to announce that its Verdant Capital Hybrid Fund (the “Fund”) has completed its fifth investment of USD 2 million, structured as junior convertible debentures in UsPlus Limited (“UsPlus”) incorporated in South Africa. UsPlus has greatly impacted the financial landscape of SMEs in South Africa by using working capital to support sectors and projects that are essential to the sustainability of the country’s society and environment. This investment will enable UsPlus to expand its invoice factoring services across key sectors in South Africa, reinforcing the company’s role as a pivotal player in the South African invoice factoring vertical. 

Since its inception in 2015, UsPlus continues to offer essential working capital solutions to businesses across the country, that have historically been unable to access traditional forms of financing. While the company supports a wide range of sectors, it has a current emphasis on funding women and sustainably led ventures. 

UsPlus’ service offering is guided by a developmental agenda which is mainly focused on supporting local manufacturers, logistics providers, local farmers, renewable energy players and service providers, among others, to improve the competitiveness of such entities by enhancing their ability to (i) meet the procurement requirements of large multinational corporations and (ii) promote financial inclusion for SMEs that historically have been unable to access traditional forms of working capital solutions.  

The Fund’s investment will strengthen UsPlus’ capital position and help “crowd-in” more senior debt funding into the business to further grow its balance sheet. The Fund is attracted by UsPlus’ business model as it aligns with the Fund’s mission to use its funding to provide financial solutions that have the broadest possible impact on society, while benefiting from fundamental credit risk mitigants. 

This investment will yield a return which is aligned with the Fund’s return target. 

The Fund is investing in inclusive financial institutions on a pan-African basis, with a focus on digitally enabled financial institutions providing services to Micro, Small and Medium-sized Enterprises (MSMEs). The Fund invests in hybrid capital instruments including subordinated debt, mezzanine, preference shares and stapled investment structures. The Fund has a size of USD 38 million (target of USD 100 million at Final Close in H1 2025).  

Distributed by APO Group on behalf of Verdant Capital.

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It’s Time to be Bullish about Africa: An Human Resource (HR) and Payroll Technology Perspective

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8 hours ago

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January 30, 2025

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Human Resource

2024 was a good year for payroll services in Africa, giving 2025 the momentum to achieve even greater things

JOHANNESBURG, South Africa, January 30, 2025/APO Group/ — 

“Extremely bullish on Africa – can’t wait to see the continent evolve over the next decade. So much talent.”

These sentiments are from a social media message by Alex Bouaziz (https://apo-opa.co/4jA3xCe), co-founder and CEO of Deel, the most successful technology startup in history that reached a US$12 billion value in just 5 years. Reaching more than 16,000 followers on Twitter, his post sparked a flurry of similar comments, expressing how they saw opportunity emerge across the continent.

The post also carries significant relevance because 2024 was a landmark year for Deel’s relationship with Africa. Specifically, Deel acquired PaySpace, the African-developed payroll platform that is challenging traditional payroll and HR software to bring much faster, smarter, and more affordable services to multiple regions.

Digital is part of Africa’s story

Cloud-native payroll and HR software is driving a US$16 billion market growing 12% annually (https://apo-opa.co/3PY313s). Organisations worldwide are replacing legacy systems with integrated cloud solutions, reaping major competitive and cost advantages by leveraging data, integration, and agile software.

This transformation is especially impactful in Africa, where developing nations benefit from the speed and affordability of cloud-native platforms across their diverse regions. African companies are leapfrogging ahead to get the most from these new technologies. They are adopting cloud solutions faster to help staff focus their energy smartly and not on repetitive tasks and data collection that could be automated.

Serving over 16,000 customers in 46 countries

Organisations of all sizes are embracing digitisation and seeing remarkable results

The continent has enormous potential to become a massive internal market. According to the Pan African Chamber of Commerce and Industry, inter-African trade reached over US$192 billion during 2023 (https://apo-opa.co/42B9Lf0).

Yet, with that figure only representing 15% of total African trade, there is still considerable room for growth. Furthermore, Africa’s companies are increasingly exporting business services to the rest of the world.

PaySpace is a perfect example of this export opportunity. It serves over 16,000 customers with its cloud-native, multi-tenant payroll and HR software platform, including leading ESS features such as Pacey, the WhatsApp chatbot that helps employees directly access services such as payslips and leave applications through the popular chat client.

During 2024, the PaySpace platform helped companies pay 8.5 million employees in 46 countries, now including Brazil and the UK, and several other milestones:

  • 233,988,871: Number of payslip calculations on the PaySpace platform.
  • 1.01: The number of seconds PaySpace by Deel took to calculate a payslip on average.
  • 64,997: Hours saved by customers using the PaySpace platform during 2024.
  • 170,000: Visits to the PaySpace Knowledge hub during 2024.

“Organisations of all sizes are embracing digitisation and seeing remarkable results,” says Sandra Crous, Managing Director of PaySpace. “PaySpace started twenty-four years ago because the founders saw the same future for the payroll and HR space, and it’s been amazing to experience how our customers keep gaining when they leverage cloud-native software.”

Bullish about Africa

The notion of an African Renaissance is not new, and it has encountered challenges. Yet, digitisation is undeniably enabling African organisations in transforming their operations. The flexibility of modern software helps them accomplish more and compete internationally, offering great benefits to customers globally.

Alex Bouaziz’s comment shows that the world is waking up to Africa’s potential. Deel’s acquisition of PaySpace shows that African technologies not only compete successfully against international brands, but can lead the way forward. It’s time to be bullish about Africa!

Distributed by APO Group on behalf of PaySpace.

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Angola Oil & Gas (AOG’25) Kicks Off to Celebrate 50 Years of Angola’s Independence and Its Leadership in the Oil Sector in Africa

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15 hours ago

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January 30, 2025

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AOG

AOG 2025 returns to Luanda on September 3-4, bringing together global energy leaders on Angola’s top investment platform

LUANDA, Angola, January 29, 2025/APO Group/ — 

The sixth edition of the Angola Oil & Gas (AOG) Conference & Exhibition was officially launched today, marking the beginning of a historic celebration. The event, scheduled for September 3-4, 2025, in Luanda, is the country’s largest oil and gas investment platform, bringing together industry leaders, financiers, technology providers, and both local and international service providers.

Under the theme “Turning Dialogue into Business,” AOG 2025 promises to be the biggest edition yet, standing out for its B2B networking, promotion of strategic collaboration and support for signing agreements among key industry decision-makers. The conference also commemorates 50 years of Angola’s independence and five decades of growth in the oil and gas industry, which has been achieved through factors such as transparent cooperation with major global operators, consistent investment, collaboration among industry stakeholders and continuous innovation.

According to José Barroso, Angolan Secretary of State for Oil and Gas, “the sixth edition of AOG 2025, organized this year as part of the celebration for the 50th anniversary of our independence, comes at an important time for Angola and the national oil and gas sector,” he said, adding that “Angola’s oil and gas sector marks 50 years of resilience and growth, offering a compelling investment opportunity for international partners and reaffirming its position as a hub for global industry leaders.”

He further stated, “As Angola’s oil and gas sector celebrates 50 years of growth, we’re showcasing its profitability to foreign investors. Events like AOG 2025 play a crucial role in boosting the sector, promoting Angola globally and attracting investment, ultimately driving economic and social progress.”

Meanwhile, Barroso highlighted that oil production was averaging over one million barrels per day, and that the country seeks to further increase output through a multifaceted investment approach, including the launch of its 2025 licensing round which will offer new blocks in the offshore Kwanza and Benguela basins, in addition to new opportunities in marginal fields.

Angola’s licensing round, scheduled for the first quarter of 2025, includes blocks 22, 35, 37, 38, and 36 in the Kwanza Basin, and blocks 40, 25, 39 and 26 in the Benguela Basin. Meanwhile, the available marginal fields cover areas in blocks 4, 14, 15, 17/06, and 18. The Incremental Production Initiative, which offers more attractive fiscal conditions, has been a key tool to maximize production from existing assets.

Events like AOG 2025 play a crucial role in boosting the sector, promoting Angola globally and attracting investment, ultimately driving economic and social progress

In the natural gas sector, Angola is also striving to position itself as a major exporter, increasing the share of gas in the energy mix to 25%. The government is attracting new investments and technological innovations, with strategic projects such as Angola LNG.

Among recent developments, Chevron launched the Sanha Lean Gas Connection Project in December 2024, while the New Gas Consortium expects to start producing non-associated gas by late 2025 or early 2026. Angola also presents investment opportunities in gas-to-power, LPG, and distribution projects, making it an increasingly attractive market for investors. In the downstream sector, the Cabinda Refinery is expected to begin operations in 2025, with an initial capacity of 30,000 barrels per day. Additionally, the Lobito and Soyo refinery projects are under development, with Angola seeking investors to accelerate their completion.

Bráulio de Brito, President of AECIPA, emphasized the role of this initiative “in developing local content, particularly in training national staff, implementing innovative and robust equipment and technology in Angola and Angolan companies, as well as in the growing openness of national banks to seriously consider projects and national entrepreneurs in the sector.”

The President of AECIPA also stated that “I hope the sixth edition of Angola Oil & Gas will break all records for business and professional participation, both international and national, and that it will be a moment to celebrate the country, the industry, and all those who, at the governmental and business levels, make it happen in Angola.”

Meanwhile, Luís Conde, Conference Director at Energy Capital & Power, summed up the spirit of the event by stating, “In honor of this golden jubilee, the Angola Oil & Gas 2025 Conference will celebrate Angola’s legacy as one of the undisputed leaders in the oil and gas sector in Africa, while looking toward a future filled with opportunities. The event will transform today’s conversations into partnerships, investments, and key contracts for the next 50 years.”

Registrations for AOG 2025 are now open. To secure your spot and learn more about the event, visit: https://AngolaOilAndGas.com/.

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

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