Canon will demonstrate the latest imaging solutions and state-of-the-art printing solutions in distinct experiential zones

DUBAI, United Arab Emirates, May 20, 2024/APO Group/ — 

Canon Central and North Africa  (https://www.Canon-CNA.com), a global leader in imaging solutions, is proud to announce its partnership with GITEX Africa 2024, the largest technology and startup event in Africa, happening from 29 – 31 May in Marrakech, Morocco. Marking the inaugural presence at GITEX Africa, Canon will unveil its “World Unseen” campaign through an exclusive photography exhibition. This exhibition invites visitors – blind, partially sighted, and sighted – to experience photography in a unique, innovative, and immersive way, like never before.

The “World Unseen” exhibition is not merely a showcase; it’s a transformative pathway, offering multi-sensory experiences that connect individuals, including those with visual impairments, with powerful images and stories through elevated prints, audio descriptions, soundscapes, and braille, fostering inclusivity and deeper appreciation for diverse perspectives.

Designed with the experience of blind and partially sighted people in mind, the exhibition will feature a series of photographs taken by world-renowned photographers including multi-award-winning South African photojournalist Brent Stirton, renowned Brazilian Photojournalist Sebastião Salgado, Nigerian photojournalist Yagazie Emezi, sports photographer Samo Vidic, fashion photographer Heidi Rondak and Pulitzer winning photojournalist Muhammed Muheisen.  

Canon is also thrilled to showcase its entire ecosystem of B2C & B2B products and solutions, reaffirming its commitment to being closer to customers and providing hands-on experiences.

Elevating the experience to new heights, Canon will demonstrate the latest imaging solutions and state-of-the-art printing solutions in distinct experiential zones, each aimed at immersing customers in a dynamic and interactive environment that goes beyond traditional product showcases.  Through these zones and interactive workstation walk-throughs, customers will have the unique opportunity to touch, feel and experience our products firsthand helping them gain valuable insights into the capabilities of products and solutions from Canon professionals.

Visit us from May 29th to 31st at the Canon booth located at Stand No. 1B-30 and World Unseen booth, located in Hall 17D-10, at GITEX Africa which is happening in the vibrant city of Marrakech, Morocco.

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

This landmark agreement was signed in Kigali, Rwanda during the Africa CEO Forum, highlighting Spiro’s commitment to enhancing sustainable transportation on the continent

KIGALI, Rwanda, May 17, 2024/APO Group/ — 

Spiro, the largest electric vehicle company in Africa, is pleased to announce it has signed heads of terms for US$50 million debt facility with the African Export-Import Bank (Afreximbank) (www.Afreximbank.com). 

This landmark agreement was signed in Kigali, Rwanda during the Africa CEO Forum, highlighting Spiro’s commitment to enhancing sustainable transportation on the continent. The official signing ceremony featured Spiro’s CEO, Kaushik Burman, and Madame Kanayo Awani, Intra-African Trade and Export Development Bank, Afreximbank. 

Spiro is the largest electric vehicle company in Africa, with over 14,000 bikes, over 9 million swaps in five countries. Operating across multiple African nations, Spiro’s mission is to reduce environmental impact and enhance urban mobility, build an integrated EV ecosystem in Africa with multitude of partners and establish a wide range of charging infrastructure which include battery swapping and direct charging. 

It’s a testament to the confidence in our business model and our contribution to sustainable development in Africa

Afreximbank, known for its role in stimulating a consistent expansion and diversification of African trade, has been instrumental in fostering economic development across the continent. The bank’s support for Spiro not only highlights the potential of green technologies in Africa but also aligns with its broader strategy to facilitate environmental sustainability and economic resilience. 

“This partnership with Afreximbank is a pivotal development for Spiro,” stated Kaushik Burman, CEO of Spiro. “The $50 million USD debt facility will significantly enhance our operational capabilities and help us expand our footprint to more African countries. It’s a testament to the confidence in our business model and our contribution to sustainable development in Africa.” 

Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development Bank, Afreximbank expressed enthusiasm about the partnership: “This partnership affirms our commitment to fostering sustainable innovation and green technologies in Africa. We are happy to support Spiro through this facility which will in turn accelerate the adoption of electric vehicles and enhance transportation across Africa. This collaboration reaffirms our belief in the power of innovation to create a better world for future generations.”

The funds will be utilized to further expand Spiro’s network of automated swap stations and introduce new electric bike models, enhancing the accessibility and convenience of green mobility solutions. As Spiro continues to lead the charge in transforming Africa’s transport ecosystem, this collaboration with Afreximbank marks a significant milestone in the journey towards a greener future.

Anish Jain, Group CEO of Equitane, expressed his support for this new venture, stating, “This partnership with Afreximbank marks a significant milestone in Spiro’s journey. As part of the Equitane Group, Spiro embodies our commitment to pioneering solutions that promote sustainability and economic growth. We are proud to see Spiro take this remarkable step forward, paving the way for a cleaner, more sustainable future in African transportation.” 

Last August, Spiro announced a $63 million debt funding round with Societe Generale, in a deal designed to expand the company’s footprint in Benin and Togo. 

Distributed by APO Group on behalf of Afreximbank.

The Group’s results for the period demonstrates yet again great resilience in the face of challenging geopolitical and macro-economic conditions

Afreximbank Group delivered a strong performance even as we expanded our subsidiary companies’ operations and our activities in the Caribbean

CAIRO, Egypt, May 17, 2024/APO Group/ — 

African Export-Import Bank (“Afreximbank” or the “Group”) (www.Afreximbank.com) has released the consolidated financial statements of the Bank and its subsidiaries for the three months ended 31 March 2024.

The Group’s results for the period demonstrates yet again great resilience in the face of challenging geopolitical and macro-economic conditions. The results show year-on-year growth and an increase in shareholder value.

Net Interest Income for Q1 2024 grew by 31.73% to US$393.4 million, compared to US$298.6 million for the prior year’s comparative period (Q1 2023). The increase was largely driven by a 40.07% increase in interest income to US$721.8 million, on the back of the growth in the Bank’s portfolio of Loans and advances. Net Interest Margin improved to 4.82% compared to 4.40% in the corresponding period due to a combination of higher benchmark rates and effective management of borrowing costs.

The Group demonstrated an improvement in operating efficiency with a lower cost to income ratio of 14.50% in Q1’2024, compared to 16.82% in Q1’2023. This was achieved despite a 10.63% increase in operating expenses to US$61.4 million (Q1 2023: US$55.5 million). Staff costs rose by 28.55% year-on-year following an increase in staff headcount to support the growth of group business and other initiatives, in line with the Bank’s Sixth Strategic Plan, constituting 52.93% of Group’s expenses.

Group Total assets closed 1Q’2024 at US$ 32.8 billion compared to US$33.5 billion as at 31 December 2023 (FY’2023).

Cash and cash equivalents closed the period at US$4.9 billion (FY 2023: US$5.6 billion) with the Liquidity ratio remaining strong at 14.9%.

The Group’s Shareholders’ Funds rose by 2.89% to US$6.3 billion as of 31 March 2024 (FY 2023: US$6.1 billion) on the back of growth in Group Net income of US$178.7 million. Callable capital, a significant proportion of which was credit enhanced as part of the Bank’s Capital Management Strategy was maintained at US$3.7 billion as of 31 March 2024 (FY 2023: US$3.7 billion).

Mr. Denys Denya, Afreximbank’s Senior Executive Vice President, commented:

“During the first quarter of the financial year 2024, Afreximbank Group delivered a strong performance even as we expanded our subsidiary companies’ operations and our activities in the Caribbean. Looking ahead, we will continue to prioritise revenue and quality assets growth, operational efficiency, while ensuring capital adequacy and adequate liquidity levels are maintained. Focusing on these key areas will enhance the Group’s ability to execute its strategy and initiatives as outlined in its Sixth Strategic Plan.”

He added, “The implementation of the African Continental Free Trade Area (AfCFTA) strongly supported by a robust payments and settlement system like PAPSS, is poised to strengthen the continent’s economic resilience by providing a shield against volatility on the international scene. Consequently, Africa is projected to sustain its resilience in 2024 and attain a growth rate of approximately 4 percent. We look forward to the rest of the year with confidence.”

Highlights of the results for the Group are shown below:

Distributed by APO Group on behalf of Afreximbank.