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Letshego Microfinance Bank Nigeria named Affirmative Finance Action for Women in Africa initiative

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Letshego Microfinance Bank

The Leshego Microfinance Bank Nigeria, also known as Letshego MFB Nigeria, received the award named after the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) programme

SHARM EL-SHEIKH, Egypt, May 27, 2023/APO Group/ — 

A Lagos-based microfinance loan solutions company that disbursed more than half of its loans to women-led micro and small enterprises last year, has been named the “Affirmative Finance Action for Women in Africa (AFAWA) Bank of the Year” at the African Business Awards ceremony.

The annual ceremony celebrating excellence in the continent’s banking sector, took place on Wednesday 24 May during the African Development Bank Group’s Annual Meetings in Sharm El-Sheikh, Egypt.

The Leshego Microfinance Bank Nigeria, also known as Letshego MFB Nigeria, received the award named after the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) programme.

AFAWA seeks to close the estimated $42 billion finance gap for women-owned small and medium-sized enterprises (SMEs) by unlocking up to $5 billion of financing for over 30,000 women business owners in Africa.

“We are delighted because our purpose is to Improve Lives of our customers by creating financial access and accelerating financial inclusion by providing creative funding for micro and small entrepreneurs in the region. [Being named AFAWA Bank of the Year] will enhance our brand positioning and increase trust and our reputation with women-led businesses,” said Richard Tyotule, Head of Sales and Distribution at Letshego MFB Nigeria.

In partnership with the African Guarantee Fund and the African Development Bank, the AFAWA Bank of the Year Award honours banks advancing financial inclusion of women across the continent.

Letshego MFB Nigeria is part of the Guarantee for Growth programme, administered by AFAWA and its partner, the African Guarantee Fund. Amongst other activities, the programme de-risks women portfolios of partner financial institutions, and incentivises financial institutions playing a greater role in supporting private-sector growth through women entrepreneurs. 

Participation in the program has increased Letshego MFB Nigeria’s appetite to do business with women-led businesses, Tyotule said.

Letshego MFB Nigeria’s original guarantee line was $3.5 million: Leshego MFB Nigeria leveraged that guarantee line to offer an additional $1.5 million in loans to clients. Cumulatively the bank says it disbursed about $5 million of loans — and out of this amount they disbursed $2 million to women-led SMEs in less than one year.

Letshego MFB Nigeria said that it disbursed 63% of its 5,115 loans to women-led micro and small enterprises (3,241 women-owned/entrepreneurs) in less than a year. Letshego increased its uptake of loans by women from 25% in 2020 to 51% in 2022.

This year’s award ceremony is a testament not only to the vibrancy and dynamism of Africa’s banking industry but also its increasing diversity

In her remarks, African Development Bank Vice President for Agriculture, Human and Social Development Dr Beth Dunford said “through AFAWA, and with partners like the African Guarantee Fund, the Bank was helping financial institutions realise that financing Africa’s women-led start-ups isn’t charity work – it is “good business”.

“We believe that supporting Africa’s women-led businesses and catalysing private investment are crucial for inclusive African economic transformation,” Dr Dunford added.

African Guarantee Fund’s Group Chief Executive Officer Jules Ngankam said their aim was to provide a holistic solution by reinforcing human and financial capital, so that women entrepreneurs could fully contribute to the growth of our continent.

“In addition to the AFAWA Guarantee for Growth, we also provide tailored technical assistance to our partner financial institutions to develop their women SME lending portfolios,” Ngankam said.

More than 300 of the continents’ leading bankers, regulators and policymakers attended the African Banker Awards, now in its 17th edition. Another highlight of the evening was African Development Bank head Dr Akinwumi Adesina presenting the award for “Finance Minister of the Year.”

As the music played after Adesina announced the winner, both he and honouree Enoch Godongwana, South Africa’s Minister of Finance, took a moment to dance to the beat before Adesina handed over the award.

Bank Secretary General Professor Vincent Nmehielle presented an award to Afreximbank for being named “Africa Bank of the Year.”

“This year’s award ceremony is a testament not only to the vibrancy and dynamism of Africa’s banking industry but also its increasing diversity,” said Omar Ben Yedder, Committee Chairman and Group Publisher at IC Publications, publishers of African Banker. 

Letshego Microfinance Bank Nigeria, in Lagos, is part of the larger Letshego Group (https://apo-opa.info/3IISlT5). The Letshego Group is an African multinational, first opening its doors in Botswana more than 21 years ago by offering loans to government employees. 

Today the Group employs more than 3,000 people and operates in 11 sub-Saharan African markets including Nigeria.

AFAWA is supported by various development partners including the G7 countries (France, Canada, Italy, Germany and the European Commission), the Netherlands, Sweden, and the Women Entrepreneurship Finance Initiative (We-Fi) of the World Bank Group.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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Dangote Calls on Africa to Keep its Capital at Home as Industrialization Takes Center Stage at Unstoppable Africa

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September 22, 2026

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African business leaders call for a bigger share of the continent’s growth, with investment and local value creation high on the agenda

NEW YORK, United States of America, September 22, 2026/APO Group/ –Africa must stop sending its capital abroad and start investing in its own industrial future, Aliko Dangote, President and CEO of Dangote Group, told global business leaders at Unstoppable Africa 2026 today, as he set out an ambitious vision for African industrialization backed by billions of dollars in investment, new refining capacity, and broader public ownership.

 




  

Pointing to Asia’s economic rise, he argued that Africa cannot build comparable industrial strength while its own money continues to flow into foreign banks and markets. Emphasizing the importance of the African Continental Free Trade Area (AfCFTA) in creating the scale required for major industrial projects, he noted, “We must believe in our continent,” urging businesses to stay focused despite the challenges involved in building major organizations in Africa. “Once you start, it gets easier. But the more you don’t do anything, it becomes difficult.”

With more than 3,000 African and global business leaders and heads of state gathered for the two-day forum in New York, Unstoppable Africa 2026 demonstrated the scale of global interest in Africa’s economic opportunities and the appetite for stronger commercial partnerships with the continent.

Another notable highlight was the South African Business Initiative for Impact (SABII), which brought South Africa’s business, investment, and partnership proposition into sharper focus. Discussions explored how local opportunities can connect with global capital and translate into tangible economic impact.

Eine Zeidane, Director of the African Department at the International Monetary Fund, highlighted the importance of structural reforms, stronger domestic financial markets, and wider African markets through AfCFTA in attracting private investment.

The discussions also turned to the continent’s rapidly expanding digital economy. Olugbenga Agboola, CEO of Flutterwave, highlighted the opportunity presented by Africa’s young and increasingly connected population, pointing to digital payments, AI, and other technologies that can help businesses access markets and grow.

We must believe in our continent

Elly Savatia, Founder and CEO of Signverse, highlighted technology’s potential to expand inclusion through African sign languages. With U$2 million in Google funding, Signverse has developed the largest publicly documented dataset for an African sign language to date and is building a framework that can expand to multiple local sign languages.

In the sporting arena, H.E. Ndemupelila Netumbo Nandi-Ndaitwah, President of Namibia, signed a partnership agreement between the Netumbo Nandi-Ndaitwah Foundation (NNN Foundation) and the Queens of the Continent Foundation (QoTC), founded by two-time WNBA All-Star and ESPN host Chiney Ogwumike. The landmark partnership will explore opportunities to support the empowerment and development of young people in Namibia, with a particular focus on girls and young women.

African creative industries take their place on the global stage

The creative economy was another major focus, with speakers highlighting the growing ability of African brands, filmmakers, and technology innovators to build global audiences and markets.

Khanyi Mashimbiye, Manager, Creatives at Afreximbank, highlighted the Afreximbank CANEX program, which connects African fashion brands with international buyers through Tranoï in Paris and Japan and Coterie in New York. Since 2022, the initiative has secured more than 120 offtake agreements, with Zimbabwean brand Vanu Vanwerk now selling in more than 50 stores globally.

Closing the forum, UN Deputy Secretary-General, Amina J. Mohammed said, “We are entering a new age of technology and AI that will fundamentally shape the future, and Africa has a tremendous opportunity to leapfrog. Just as industrialisation transformed economies and created new forms of work, AI can open new pathways for growth, innovation and opportunity. Africa has the talent and the ideas. What we need is the opportunity, infrastructure and investment to deploy them at scale. This is a moment for Africa to shape its own AI story, combining the continent’s talent with the technology and infrastructure needed to build the future.”

As the conversations concluded, the focus turned to the practical work ahead: translating Africa’s investment momentum into initiatives that can deliver growth, jobs, and lasting economic value.

For event photos, visit HERE (https://apo-opa.co/3TJQpSP). For speakers’ video soundbites and highlights, visit HERE (https://apo-opa.co/477SpHE). The entire event can be viewed on Unstoppable Africa YouTube channel (https://apo-opa.co/4xE0FKs).

For more about GABI please visit the website GABI.UNGlobalCompact.org

Distributed by APO Group on behalf of Global Africa Business Initiative.

 

 




 

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Frasers Hospitality unveils Fraser Suites Reserve, a new luxury serviced living brand

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September 22, 2026

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Fraser Suites Reserve Bangkok starts welcoming guests at One Bangkok in December 2026
SINGAPORE – Media OutReach Newswire – 22 September 2026 – Frasers Hospitality, a business unit of Frasers Property, today announced Fraser Suites Reserve, a new luxury serviced living brand created for discerning global travellers seeking the privacy, ease and familiarity of home while away, complemented by the service and standards of luxury hospitality.

Building on Frasers Hospitality’s longstanding expertise and established track record in extended stays, Fraser Suites Reserve addresses a distinct segment at the luxury end of the market. Its introduction further sharpens the company’s portfolio of clearly differentiated brands.

 




 
 

“Fraser Suites Reserve represents the next strategic step in strengthening our portfolio,” said Eu Chin Fen, Chief Executive Officer, Frasers Hospitality. “It draws on our experience in long stays, while responding to the evolving expectations of an increasingly sophisticated segment of travellers accustomed to the world’s finest hospitality.”

Time for what matters

Fraser Suites Reserve is anchored in the belief that time is the ultimate luxury for today’s global professionals. Each property brings together refined design, intuitive service, curated wellness and lifestyle experiences intended to make life away from home easier, leaving guests free to focus on what matters most, whether their work, wellbeing, relationships or personal pursuits.

Designed as private sanctuaries within the city, its rooms are designed to offer privacy and calm. Many feature integrated kitchenettes, allowing guests to maintain familiar routines of home while away, an independence that becomes particularly valuable during longer stays. The experience is complemented by the discreet yet highly personalised service of luxury hospitality.

Beyond the rooms, guests can enjoy distinctive dining concepts, wellness and leisure experiences on property, as well as Club Frasers, a private lounge designed for conversation, connection and curated experiences.

“For guests accustomed to the highest standards, luxury service gives the assurance that every detail has been carefully thought through and every need understood,” said Chew Hang Song, Chief Operating Officer, Frasers Hospitality. “With Fraser Suites Reserve, this means providing an experience that feels immediately familiar and deeply human, supported by service that is warm and intuitive, yet respectful of their privacy.”

Wellbeing, made part of everyday

Holistic wellbeing is integrated into the Fraser Suites Reserve experience. At Fraser Suites Reserve Bangkok, the House of Rejuvenation will offer a dedicated environment for recovery and renewal, pairing therapist-led treatments with advanced wellness facilities such as thermal pools, cold plunges, compression therapy, dry flotation and red-light therapy.

Guests will also have access to The Wellness Edit, Frasers Hospitality’s proprietary global wellness programme. Through simple, repeatable everyday rituals that can be incorporated naturally into a guest’s stay, the programme is designed to integrate wellbeing with simple gestures, making wellbeing easier to sustain even amid demanding schedules and frequent travel.

Global debut at One Bangkok

Fraser Suites Reserve Bangkok, the brand’s first property, will begin welcoming guests in December 2026 as part of a phased opening. Its grand opening is planned for March 2027 when the complete range of facilities and experiences will be available.

The 255-room property will occupy the top ten floors of a 45-storey premium office and retail tower at One Bangkok, located right in the heart of Bangkok at the intersection of Rama IV Road and Wireless Road, with panoramic views of the Bangkok skyline and Chao Phraya River with easy access to Bangkok’s dining, entertainment and cultural attractions. Further details to be announced in the coming months.

Find out more about Fraser Suites Reserve at frasershospitality.com/en/our-brands/fraser-suites-reserve/

NOTE:
For more information, please visit www.frasershospitality.com.

About Frasers Hospitality
Frasers Hospitality is a leading investor-operator within the lodging sector, backed by 28 years of proven expertise. Frasers Hospitality specialises in optimising and managing hospitality assets to deliver sustainable value for its stakeholders. As a business unit of Frasers Property Limited, its presence spans Asia Pacific, Europe, the Middle East and Africa.

With a diversified portfolio of over 100 lodging assets across geographies and segments, Frasers Hospitality offers a comprehensive end-to-end ecosystem of bespoke lodging expertise and solutions to maximise performance, value and growth for its partners across the real estate value chain. Frasers Hospitality is a trusted expert and preferred partner within the lodging sector with a proven track record and a business model optimised to deliver value.

Frasers Hospitality is distinguished by its style of hospitality from their progressive mindset that fosters innovation and matched with an award-winning brand portfolio tailored to new ways of travelling, living and socialising. Recognised globally for our commitment to hospitality excellence, Frasers Hospitality has earned numerous industry accolades and awards, showcasing its leadership in delivering exemplary, quality services, and curating memorable, life-enriching experiences for its guests and residents – by people, for people.

For more information on Frasers Hospitality, please visit www.frasershospitality.com or follow us on LinkedIn.

About Frasers Property Limited
Frasers Property Limited (“Frasers Property” and together with its subsidiaries, the “Frasers Property Group” or the “Group”) is an integrated investor-developer-operator of real estate products and services. Listed on the Main Board of the Singapore Exchange Securities Trading Limited (“SGX-ST”) and headquartered in Singapore, the Group has total assets of approximately S$40.0 billion as at 31 March 2026.

Frasers Property operates across five asset classes: industrial & logistics, retail, commercial & business parks, residential and hospitality. Its businesses span Southeast Asia, Australia, Europe and China, and its well-established hospitality business owns and/or operates serviced apartments and hotels in 20 countries.

The Group is the sponsor of real estate investment trusts (“REITs”), Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust, listed on the SGX-ST, as well as Frasers Property Thailand Industrial Freehold & Leasehold REIT and Golden Ventures Leasehold Real Estate Investment Trust, listed on the Stock Exchange of Thailand.

Guided by its purpose of inspiring experiences and creating places for good, the Group promotes an ESG framework that supports long-term value creation through focus areas such as transparent governance, sustainable finance, inclusive communities and reducing its carbon emissions. Frasers Property aims to deliver lasting shared value for its customers, people, investors and communities, while fostering a progressive, collaborative and respectful culture.

For more information on Frasers Property, please visit frasersproperty.com or follow us on LinkedIn.
 




 

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Energy

Building a Knowledge Hub for China-ASEAN Energy Cooperation

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September 22, 2026

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NANNING, CHINA – Media OutReach Newswire – 21 September 2026 – During the 23rd China-ASEAN Expo and the China-ASEAN Business and Investment Summit, China Southern Power Grid showcased a range of innovations designed to support energy cooperation between China and ASEAN. These included the DaWatt – Lao Language Large Language Model (LLM) for the Energy and Power Sector V2.0 and the Flexible Grayscale Intelligent Monitoring & Analysis Platform for power system cybersecurity, highlighting expanding opportunities for cooperation in digitalization, intelligent technologies and green energy.

The Lao-language LLM has been deployed at Electricité du Laos Transmission Company Limited (EDL-T), where it can automatically analyze thousands of inspection images within a short period of time. After its algorithms were optimized for Laos’ mountainous and rainforest terrain, the model completed intelligent inspection analysis for four transmission lines, processing 26,000 drone inspection images and identifying more than 3,600 equipment defects.

 




 
 

Liu Ying, general manager of the Digitalization Department at Guangxi Power Grid Co., Ltd., said the company has been building multilingual professional corpora for the power sector, covering ASEAN countries including Laos, Vietnam and Malaysia. Drawing on the capabilities of the DaWatt foundation model, the company is developing energy and power models tailored to ASEAN languages and real-world power industry applications.

Talent development is another focus of the cooperation. The China-ASEAN Institute of Energy, jointly established by Guangxi Power Grid Co., Ltd. and Guangxi University, is exploring an industry-university training model with a strong emphasis on practical experience. So far, two cohorts totaling 53 students from ASEAN countries have enrolled.

Cooperation is also evolving from one-way training toward joint innovation. Guangxi Power Grid Co., Ltd. and the Royal Academy of Cambodia have jointly established a laboratory for artificial intelligence and safety equipment, while the company has also launched peer-to-peer exchanges with Electricité du Laos on improving power supply reliability.

To address language barriers in cross-border technical exchanges, Guangxi Power Grid Co., Ltd. has developed an AI-powered translation platform backed by a specialized database containing terminology for more than 1,800 types of power equipment. The platform supports accurate translation between Chinese and English, Chinese and Lao, and Chinese and Vietnamese.

At a recent training program for Chinese and overseas engineers, the system supported one-click generation of bilingual course materials and real-time speech translation, helping participants navigate highly specialized power-sector terminology.

To support regular international exchanges, Guangxi Power Grid Co., Ltd. has also established an international talent pool covering management, technical and skilled personnel. It has developed 24 hours of courses on international affairs as well as 20 short-form video courses.

“This year, we will also explore joint postgraduate programs with universities in ASEAN countries,” said Sun Xiaohua, deputy director of the Human Resources Department at Guangxi Power Grid Co., Ltd.

Looking ahead, Guangxi Power Grid Co., Ltd. plans to further advance a development model featuring “R&D in Beijing, Shanghai and Guangdong, integration in Guangxi, and application in ASEAN.” The company will continue expanding its multilingual power-sector corpora and explore a “Token Goes Global” model for power-sector AI, with computing resources and models based in Guangxi while knowledge services are delivered overseas. The effort is aimed at creating new forms of China-ASEAN energy cooperation and supporting the green development of the China-ASEAN Free Trade Area 3.0.
 




 

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