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Saudi Export-Import Bank (Saudi EXIM) Bank and Africa Finance Corporation Sign Memorandum of Understanding (MoU)

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Saudi EXIM

At the heart of AFC’s mission is a commitment to delivering impactful solutions for Africa, across its core sectors of power, natural resources, transport and logistics, heavy industry, and technology

    WASHINGTON D.C., United States of America, October 28, 2024/APO Group/ — 

    The Saudi Export-Import Bank (Saudi EXIM) and Africa Finance Corporation(AFC) (www.Africafc.org), Africa’s leading infrastructure solutions provider, have signed a Memorandum of Understanding (MOU) to collaborate on initiatives to boost exports in both the Kingdom of Saudi Arabia and AFC’s member countries This MoU, signed on the sidelines of the ongoing 2024 IMF/World Bank Annual Meetings, will also promote exchange of information, technical expertise and knowledge sharing between both institutions.  

    As such, AFC is pleased to partner with the Saudi Exim Bank, marking a major milestone in strengthening ties between Africa and Saudi Arabia

    His Excellency Eng. Saad Al-Khalb commented: “The MoU with the Africa Finance Corporation comes as part of the bank’s commitment to enhancing international economic and trade relations. The agreement will cover several areas of cooperation, including exploring opportunities to support joint projects between companies in the Kingdom and the member countries of Africa Finance Corporation (AFC), by providing credit solutions that support companies and institutions of all sizes and activities. It will also pave the way for local investors to benefit from promising investment opportunities in Africa, thereby enhancing the flow of non-oil Saudi exports to expand into various African markets, in line with empowering the non-oil national economy and creating a diverse and inclusive economy in line with Saudi Vision 2030.” 

    Samaila Zubairu, President & CEO of AFC, commented on the partnership: “Strategic partnerships are vital for economic transformation, and in today’s world, no nation can tackle sustainable development alone. As such, AFC is pleased to partner with the Saudi Exim Bank, marking a major milestone in strengthening ties between Africa and Saudi Arabia. Leveraging our collective expertise and resources, we aim to contribute significantly to driving industrialization, facilitating trade and creating jobs for a dynamic economic ecosystem that benefits both regions.”  

    It is worth noting that the Saudi Export-Import Bank is a development bank affiliated with the National Development Fund, working to contribute to diversifying the economic base of the Kingdom by enhancing the efficiency of the export system for non-oil national products and services, addressing financing gaps, and reducing export risks. This supports the growth of the non-oil national economy in line with Saudi Vision 2030. 

    At the heart of AFC’s mission is a commitment to delivering impactful solutions for Africa, across its core sectors of power, natural resources, transport and logistics, heavy industry, and technology. The Corporation has an unwavering commitment to realising transformative projects across Africa including infrastructure projects such as the Red Sea Power Wind Farm in Djibouti, the Arise IIP industrial zones and the Lobito transport corridor that are reshaping the landscape, fostering sustainable development for local communities, and altering the economic trajectory of countries. 

    Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

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    Exploring new ways of immersive storytelling with the RF-S 7.8mm F4 STM DUAL spatial video lens

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    Canon

    This lens offers a compact and attainable entry point to the world of spatial video – whilst retaining the high optical performance of the EOS R System

    DUBAI, United Arab Emirates, November 5, 2024/APO Group/ — 

    Canon (www.Canon-CNA.com) today unveils its groundbreaking RF-S 7.8mm F4 STM DUAL lens, designed to make realistic, high-quality 3D still and video creation more accessible than ever before. When paired with an APS-C camera body, this lens offers a compact and attainable entry point to the world of spatial video – whilst retaining the high optical performance of the EOS R System.

    It delivers a natural 63 degree field of view, closely mirroring human vision, to create immersive experiences with an extra dimension, providing emotional depth and vivid realism. Currently compatible with the EOS R71 (with potential for gradual expansion of compatibility in the future), the RF-S 7.8mm F4 STM DUAL lens allows creators to capture spatial video to be experienced not only on higher-end VR headsets, but also on smartphones via VR glasses, cardboard headsets, and even handheld viewing devices for printed images.

    Perfectly practical weighing only 130g, coupled with a user-friendly STM AF system, it opens up 3D shooting possibilities for stills and video to a wide variety of users, enabling anyone to create more lifelike capture of cultural performances, high-end product reveals or walk-through videos for real estate and hotels in spatial stills and videos.

    Adding to a seamless and efficient workflow, the EOS VR Utility app will be updated to create spatial video for Apple Vision Pro headsets, enabling content captured on Canon EOS VR System products to be exported in MV-HEVC codec when using an Apple Mac computer.

    For more information about this lens, please visit:  https://apo-opa.co/40wUXNk

    Distributed by APO Group on behalf of Canon Central and North Africa (CCNA).

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    Coca-Cola Beverages Africa invests $50 Million in Namibia, boosting production capacity by 30%

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    Coca-Cola

    The investment also includes the installation of a water treatment plant with state-of-the-art water recovery technology, designed to reduce water consumption

    WINDHOEK, Namibia, November 4, 2024/APO Group/ — 

    Coca-Cola Beverages Africa (CCBA) (www.CCBAGroup.com) has invested $50 million in a new bottling line in Namibia, capable of producing 27,000 bottles per hour. This upgrade will increase the plant’s output capacity by 30% and stimulate growth throughout the company’s value chain.

    As a customer-centric, digitally enabled, growth-driven business, we are committed to excellence across our value chain

    The investment also includes the installation of a water treatment plant with state-of-the-art water recovery technology, designed to reduce water consumption. Additionally, the integration of advanced technology, including artificial intelligence, will require skills training for employees, contributing to the development of a future-ready workforce for both the business and the country.

    “We’ve ensured that this production line goes beyond output numbers,” said Pottie de Bruyn, General Manager of Coca-Cola Beverages Africa in Namibia. “It’s about creating shared opportunities across the value chain. The increased production also provides a boost to local businesses that supply us with raw materials and services.”

    Sunil Gupta, Chief Executive Officer of CCBA, echoed the sentiment, adding, “This investment is a clear demonstration of our continued belief in the future of Namibia.”

    Gupta also highlighted CCBA’s broader goals: “As a customer-centric, digitally enabled, growth-driven business, we are committed to excellence across our value chain. Efficient operations allow us to offer faster delivery and superior service. This new production line is another step in our journey to achieve even greater levels of execution excellence.” 

    Distributed by APO Group on behalf of Coca Cola Beverages Africa.

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    VistaJet Continues Expansion Plans in East and South Africa

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    VistaJet

    The African Roadshow Reaffirms Commitment Towards the Region’s Economic Development 

    DUBAI, United Arab Emirates, November 4, 2024/APO Group/ — 

    VistaJet (www.VistaJet.com), the world’s first and only global business aviation company, is set to organize its first-ever East and South Africa Static Display Roadshow, showcasing its flagship aircraft, the Bombardier Global 7500. The event will commence in Kenya’s capital, Nairobi, followed by a landing in South Africa’s top business centers, Johannesburg and Cape Town.  Nairobi’s positioning as East Africa’s tech and business hub, along with Johannesburg and Cape Town’s role in South Africa’s mature aviation market, have made these cities essential focal points for VistaJet’s growth strategy. The roadshow will engage with prospective and existing clients and the local media, serving as a platform to share VistaJet’s ongoing expansion and dedication to support the region’s economic transformation as set out in the AcFTA agreement. This roadshow follows the monumental success of its West African edition (https://apo-opa.co/3CnKLg3), held earlier in May. 

    According to the Middle East and North Africa Business Aviation Association (MEBAA), the number of business jets operating in Africa is expected to grow by 8% annually over the next five years. Currently, there are 418 jets on the continent, with South Africa having the largest business aircraft fleet, followed by Kenya and Nigeria. The ongoing growth of private aviation in Africa has also benefited the continent’s employment rates, with air transport contributing significantly to 7.7 million jobs and $63 billion in Gross Domestic Product (GDP).   

    Elsewhere, The 2024 Africa Wealth Report by Henley & Partners (https://apo-opa.co/40yhzxc) reveals that the total investable wealth on the African continent stands at US2.5tn and that the millionaire population is expected to increase by 65% over the next ten years, fueled by strong growth in key sectors such as fintech, business process outsourcing, software development, rare metals mining, green tech, media and entertainment, and wealth management. The ‘Big 5’ wealth markets (https://apo-opa.co/40wbGR6) — South Africa, Egypt, Nigeria, Kenya, and Morocco — collectively account for 56% of Africa’s high-net-worth individuals (HNWIs) and over 90% of its billionaires.  

    VistaJet offers the world’s most extensive range of business jets and in the past 14 years it has built a strong African network, transforming business aviation in the region. During the East and South Africa Roadshow, VistaJet will showcase the Bombardier Global 7500, the largest and longest-range business jet and offers unbeatable global connectivity, flying up to 17 hours non-stop. Vista has 18 in the fleet – the world’s largest fleet of Global 7500. Precision-engineered wings provide an exceptionally smooth ride in the large cabin, with four separate living spaces, including a permanent stateroom, this jet is perfectly suited for business or a family dynamic. In the first half of 2024, across Africa, Vista’s Global 7500 flight hours increased +33% – this aircraft is becoming increasingly more popular across the continent.  The Global 7500 is popular for connecting African cities, such as Cape Town to Accra and Johannesburg to Cairo and international routes such as Africa and Asia, demonstrating a strong sentiment to increasing investment between the African and Asian continents (https://apo-opa.co/4fcKzPk).   

    An impressive Compound Annual Growth Rate (CAGR) for 20 years has made Vista the largest provider of on demand business flights in the world. And the trajectory is not changing — over the last 18 months, while the private aviation industry as a whole experienced a leveling out in demand following the post-COVID boom, Vista expanded its global footprint and as of July 2024, has gained an additional 50 basis points of total market share year-over-year, with its share of the market rising to approximately 5% of the total market.  With an addressable market of over 24,000 business jets around the globe, as well as broader spectrum of aspirational fliers, there is also significantly more scope and opportunity for the Group to capture further market share over the next two decades.  

    VistaJet’s main expansion plan objective is to enhance Africa’s economic growth by increasing regional investments and facilitating overall growth

    In 1H 2024, Vista was once again experiencing exceptional growth – with total flight hours up +14% year-over-year – an incredible result, especially when compared to a global market that contracted by 2% over the same period.  

    The VistaJet Program membership has been the biggest contributor to this growth, recording +19% growth in Program hours and a +18% increase in number of Members. The first half of 2024 continued this trajectory, marked by: 

    • Double-Digit Growth in Flight Hours: Vista recorded a significant increase in flight hours compared to 1H 2023, a direct result of Vista’s strategic foresight and market understanding. 
    • Membership Surge: 2024 has seen a substantial Membership growth as clients gravitated towards Vista’s flexible subscription-based model, reinforcing Vista’s client-first approach. 
    • Africa Success: The African continent remains a priority market for Vista with impressive growth in the first half of 2024. Africa reported strong flight activity with a +103% increase in the New Program Hours Sold and a +29% increase in total hours flown year-over-year: East Africa specifically experiencing a +46% increase in total hours flown; and South Africa, a +79% increase in total hours flown. 

    With over a decade of operations in East and South Africa, VistaJet continues to play a vital role in supporting development in these sub-regions by facilitating global investments and connecting decision-makers, corporations, and business executives. Vista’s global fleet of iconic silver and red jets means its African clients will never be stranded with guaranteed availability in as little as 24 hours’ notice, no matter where they are going in the world. Global coverage, covering 96% of the globe also means knowing how to operate in over 2,700 airports, making journeys to every destination safe and reliable. VistaJet’s flexibility is unparalleled for its expanding African client base.  

    Commenting on the business expansion plans, VistaJet’s President of Europe and Africa, Philippe Scalabrini, stated: “Building on the momentum of the West Africa Roadshow, we are pleased to announce the East and South Africa Roadshow.  VistaJet is committed to offering top rate, exclusive services to its extensive client network in this critical region. In response to the growing demand, we have deployed three dedicated aircraft while upholding our exceptional standards. VistaJet’s main expansion plan objective is to enhance Africa’s economic growth by increasing regional investments and facilitating overall growth.” 

    VistaJet was founded 20 years ago and has established itself as the world’s leading global business aviation company. With a client base consisting mainly of corporate leaders and Ultra-High-Net-Worth Individuals, VistaJet aims to simplify air travel by offering privacy, reliability, flexibility, efficiency, anonymity, and safety. The Cabin Hosts, trained by the British Butler Institute and MedAire, deliver the highest service standards.  Flying with VistaJet is a better alternative to ownership – offering a lower cost per hour, and a larger coverage area; as well as preferrable to brokerage – due to higher safety, and unique consistency of service; and often commercial – thanks to scheduling flexibility, and non-stop connections across airports around the world.

    Distributed by APO Group on behalf of VistaJet.

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