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SUNRATE Releases New White Paper for Travel Intermediaries at Travel Tech Asia 2024

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SUNRATE
White Paper covers practical insights for travel intermediaries to navigate the complexities of cross-border B2B travel payments
SINGAPORE – Media OutReach Newswire – 23 October 2024 – SUNRATE, a global payments and treasury management platform, has announced the release of a new white paper titled “Navigating the Complexities of Cross-Border B2B Travel Payments: Practical Insights for Travel Intermediaries” at Travel Tech Asia 2024, Asia’s Leading Travel Technology Trade Show.
According to Statista, the online travel market’s global revenue reached just under 600 billion U.S. dollars in 2023. This figure is expected to grow steadily in the following years, exceeding 800 billion U.S. dollars by 2028. Additionally, when breaking down global travel and tourism revenue by sales channels, the leading role played by the online market is clear, with online transactions generating over two-thirds of total sales value.Despite the opportunities to maximise profits in a booming industry, travel intermediaries such as, Online Travel Agencies (OTAs), Travel Agencies (TAs) and Travel Management Companies (TMCs) often face high transaction costs, inefficiencies in payment processes, security concerns, cross-border payment complexities, and the need for effective working capital management. These challenges can significantly impact profitability and operational efficiency.Additionally, in a landscape where some travel intermediaries are observed to consolidate and provide payment solutions within their ecosystems, others must carefully evaluate their choice of payment providers to ensure their operations are not jeopardised due to conflicts of interest and customer data remain secure.Shawn Qin, Head of Card Business at SUNRATE said, “We are pleased to present this comprehensive white paper, tailored specifically for travel intermediaries. At SUNRATE, we understand the unique challenges associated with managing B2B travel payments. Our goal is to offer practical and actionable advice to streamline payment processes, reduce costs, and enhance efficiency. As an agnostic and independent payment service provider, SUNRATE is committed to protecting the interests and data of its clients”In this white paper, SUNRATE shares the six pressing issues impacting travel intermediaries.Cross-border complexities. Dealing with multiple currencies and regulatory environments can be complex and costly for travel intermediaries. Cross-border transactions, in particular, can incur expensive processing fees and administrative costs.High transaction costs. High transaction costs associated with cross-border B2B travel payments pose a significant challenge to travel intermediaries. These costs become particularly financially burdensome due to the high volume of transactions and the multitude of foreign exchange mark-ups when facilitating payments across multiple pay-out corridors.Inefficiencies in payment processes. Traditional payment methods such as automated clearing houses (ACH), billing and settlement plans (BSP), Airlines Reporting Corporation (ARC), and cash expose OTAs, TAs and TMCs to financial risks as they are slow and error prone. Many travel intermediaries still rely on outdated practices like manual data entry for invoicing and payments, or inefficient methods such as calling and faxing for direct hotel billing—both of which increase the likelihood of errors and slow down the entire payment cycle.Security concerns. Handling large volumes of financial data comes with inherent security risks, especially for travel intermediaries dealing with sensitive payment information across multiple platforms. Cyber threats are a constant concern, with a significant percentage of businesses experiencing fraud attempts each year.Challenges in meeting regulatory compliance. The travel industry is heavily regulated, and maintaining compliance across different regions presents significant challenges. Non-compliance can lead to fines and penalties, which adversely affect the bottom line. Keeping up with regulatory changes and implementing necessary measures is essential to avoid legal and financial repercussions.Difficulties in data management and reporting. Effective data management is crucial for travel intermediaries seeking to make informed decisions and remain competitive. Inadequate systems can lead to errors, missed opportunities, and ultimately, poor business performance. A common issue in the industry involves fragmented data systems that prevent businesses from obtaining a unified view of their financial and operational performance.This white paper also provides detailed suggestions for the way forward for travel intermediaries, covering the key benefits and opportunities that modern payment solutions offer to travel intermediaries. By leveraging these tools, travel intermediaries can improve operational efficiency, boost security, ensure compliance, and position themselves to meet the demands of an increasingly global and complex market.For more information, please click here to download the white paper.

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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