African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has announced the disbursement of a US$40-million Intra-African Investment Facility to Fidelity Bank Nigeria Plc (“Fidelity”) to support Fidelity Bank’s acquisition and recapitalization of Union Bank UK as part of its international expansion programme.

Provided in two tranches of US$20 million each, the first tranche of the facility enabled Fidelity to part-refinance the acquisition of 100 per cent equity stake in Union Bank UK, while the second tranche was used to support its recapitalisation via the injection of additional equity into the acquired bank, as approved by the United Kingdom’s regulator.

With this acquisition, Fidelity Bank is able to birth a new pan-African financial institution capable of providing correspondent banking and offshore banking services to banks in Africa and servicing the banking needs of Africans in the diaspora.

Commenting on the transaction, Kanayo Awani, Executive Vice President, Intra-African Trade Bank and Export Development Bank, Afreximbank, noted that the disbursement of the facility was part of Afreximbank’s effort to promote African control and ownership of capital while improving intra-African trade and investments.

“Fidelity Bank’s acquisition of Union Bank UK aligned with Afreximbank’s Intra-African Investment Facility. It was a significant milestone for both institutions, reinforcing African ownership and control within the global financial landscape,” Mrs. Awani said. “By supporting this strategic transaction, we are not only bolstering Nigeria’s banking sector but also fostering greater financial integration between Africa and its Diaspora. This initiative is a testament to our commitment to enhancing intra-African trade, promoting economic stability and driving forward the objectives of Agenda 2063 for a prosperous and self-reliant Africa.” She added.

Mrs. Awani stated that Afreximbank’s Bank Acquisition Strategy, empowers African entities to acquire financial assets divested by foreign entities in Africa and the diaspora. This is also in line with the Bank’s Diaspora Strategy which seeks to promote and finance the integration of the African Diaspora with the rest of the continent. .

She noted that, through the facility, Fidelity was extending its services to the UK, in particular, to Africans and African-owned businesses in the UK, including products to support Diaspora investments.

In the words of the MD/CEO of Fidelity Bank, Dr (Mrs) Nneka Onyeali-Ikpe, ‘We are very thankful to Afreximbank for supporting our expansionary initiatives for international growth. It is, indeed, the result of a strong partnership between the two institutions over the years that has produced this good outcome.

The refinancing of the Union Bank (UK) acquisition by Afreximbank will unlock additional value and help create a scalable and more sustaining service franchise that will support trade businesses in Africa and diaspora banking.”

The acquisition is expected to contribute to Africa’s economic growth and development by increasing intra- and extra-African trade finance and trade flows between Nigeria and the UK, supporting the integration of the African Diaspora into regional and continental supply chains and enabling small and medium-sized enterprises across the continent to improve their export competitiveness and light export manufacturing capabilities.

Distributed by APO Group on behalf of Afreximbank.

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Email: press@afreximbank.com
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About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2023, Afreximbank’s total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

For more information, visit: www.Afreximbank.com

The UN Trade and Development (UNCTAD) Webinar on Competition law and policy approaches towards digital platforms and ecosystems in cooperation with the BRICS Competition Law and Policy Centre (https://www.BRICSCompetition.org/) and the Brazilian Administrative Council for Economic Defense (CADE) was held on June 3, in Geneva, Switzerland.

The digitalization of the economy – legislature, trade, customs, logistics, etc. – is just entering its most active stage of development, itself a preparatory stage for the automation of the economy. One of the most pressing issues now, at the initial stage of digitalization, is still the streamlining and creation of a regulatory framework for future global processes. This includes the issue of antitrust regulation, both within individual countries and various interstate associations, such as the EU or BRICS.

“Today, the actions of antitrust agencies in different countries remain disparate and fragmented. Lack of consensus leads to weakened enforcement, and ecosystems increase anti-competitive pressure on the market. Antitrust law is on the verge of losing its relevance and strength in the digital economy. We need some form of international agreement on the regulation of digital ecosystems, especially given the development of AI technologies,” emphasized Alexey Ivanov, Director of the BRICS Competition Law and Policy Center.

As the expert explained, each BRICS jurisdiction has its own objectives with regard to competition law. There is a common core, which has been defined as consumer welfare, efficient allocation of resources and economic freedom. But so far, one of the bottlenecks in dealing with digital markets is market definition – the application of traditional market definition tools is challenged by the tendency of digital markets to be highly innovative and dynamic.

The development of new definitions and indicators is one of the most important tasks of the meeting. As part of the presentation, Victor Oliveira Fernandes, Commissioner of CADE, stated that within their organization a number of new indicators have already been developed to define the platform market: for example, the ability to unilaterally impose conditions, including as a show of bargaining power, ownership of key datasets, ability to influence choice through online platform architecture, lack of transparency.

Since this year, the number of BRICS member countries has grown, and further expansion is being discussed. Moreover, the association, which remained formal for a long time, is beginning to work more actively. The more active the more real contradictions and problems. Nevertheless, experts noted that there is a significant convergence among BRICS jurisdictions in recognizing the importance of certain essential standards, such as consumer welfare standards, but there are also some differences that are worth highlighting. Authorities in different countries, especially Brazil, Russia, China and South Africa, recognize other objectives, such as ensuring economic freedom or a level playing field for small and medium-sized enterprises. And these goals can somehow be translated into more elaborate legal standards for assessing abuse of dominance.

Alexey Ivanov also focused the participants’ attention on the fact that cooperation exactly within the framework of supranational associations can give real results in the fight against violations of fair competition rules by global monopolists in local markets. “Much more opportunities for developing countries lie in the area of cooperation. BRICS, as you know, is expanding and working in the area of developing joint enforcement actions, remedies, investigations, case reviews, because this is how you essentially balance the playing field in the fight against global companies,” Ivanov explained.

The meeting was attended by a wide pool of international experts and representatives of national and international competition authorities: Victor Oliveira Fernandes, Commissioner, CADE; Rajinder Punja, Economic Director, CCI/ Representative from SAMR (tbc); Masako Wakui, Professor of Law, Kyoto University; Maria Ioannidou, Professor, Queen Mary University of London; Deni Mantzari, Associate Professor, University College of London; Alexey Ivanov, Director, BRICS Competition Law and Policy Center. The experts agreed to continue working on the creation of a harmonized system of supranational instruments of antitrust regulation.

Distributed by APO Group on behalf of BRICS Competition Law and Policy Centre.

About BRICS Competition Law and Policy Centre:
The BRICS Competition Law and Policy Centre was established in 2018 by the BRICS competition authorities. The Centre’s work is aimed at collecting and analyzing information from competition agencies, identifying best practices, but primarily at preparing recommendations and developing approaches to competition policy that reflect the interests of the development of the BRICS economies. The key mission of the BRICS Competition Centre is to advance the development agenda and strengthen the role of competition regulation in overcoming imbalances in the global economy. The Centre brings together leading international universities and independent researchers who are actively involved in the Centre’s main research projects: on global food chains, on sustainability policy and on new approaches to antitrust regulation of the digital economy.

Merck Foundation (www.Merck-Foundation.com), the philanthropic arm of Merck KGaA Germany announced the Winners of Merck Foundation Africa Media Recognition “More Than a Mother” Awards 2023 and “Diabetes and Hypertension” Awards 2023 from Benin. Winners from the rest of the Africa were also announced, in partnership with African First Ladies, the Ambassadors of Merck Foundation More Than a Mother. The awards ceremony was held via Videoconference to felicitate all the media award winners.

The winners were announced and acknowledged by Senator, Dr. Rasha Kelej, CEO of Merck Foundation and President of “More Than a Mother” campaign. The theme of “More Than a Mother” Awards was to raise awareness on any of the following social issues such as: Breaking Infertility Stigma, Supporting Girl Education, Women Empowerment, Ending Child Marriage, Ending FGM, and/or Stopping GBV at all levels and the theme of “Diabetes and Hypertension” Awards was to Promote a Healthy Lifestyle and raise awareness about prevention and early detection of Diabetes and Hypertension in the African countries.

Senator, Dr. Rasha Kelej expressed, “I am very excited to announce the winners from Benin and the rest of Africa. We have 83 winners from 22 African countries in partnership with my dear sisters First Ladies of Africa and Ambassadors of “Merck Foundation More than a Mother”. Congratulations to all our winners.

We started our Media Awards in 2017, and year after year we are witnessing a substantial increase in the number of outstanding and regular  entries from many African countries, which is very encouraging for us.

All our winners are the Champions of critical and sensitive social and health issues in their communities.

It’s truly inspiring to witness how we’re actively involving and engaging everyone, enabling them to be the voice of the voiceless and create a culture shift.

I’m delighted to extend a warm welcome as you join the Merck Foundation Alumni. let’s keep raising awareness on social and health together.”

Merck Foundation is additionally rewarding the winners by providing them with one year access of an online educational training program called ‘MasterClass’. The MasterClass is an immersive online experience and self-paced learning course that can be accessed anywhere with the internet.

“I would also like to announce the Call for Applications for the Merck Foundation Africa Media Recognition Awards 2024 “More Than a Mother” and “Diabetes and Hypertension”. These awards are in partnership with my dear sisters, the African First Ladies who are also the Ambassadors of “Merck Foundation More Than a Mother””, concluded Senator Kelej.

Benin Winners of Merck Foundation “More Than a Mother” Media Recognition Awards 2023:

Merck Foundation “More Than a Mother” Media Recognition Awards 2023

Tognisse Pugilbert Yannick, DecryptageBenin.com, Third Position, Online Category

Merck Foundation “Diabetes&Hypertension” Media Recognition Awards 2023

Alphonse Julio GADA, GLOBAL NEWS BÉNIN, Third Position, Online Category

Winners of Merck Foundation “More Than a Mother” Media Recognition Awards 2023

Here are the winners from West African Countries in partnership with The First Lady of The Gambia, H.E. FATOUMATTA BAH-BARROW; and The First Lady of Ghana and H.E. REBECCA AKUFO-ADDO:

PRINT CATEGORY WINNER

Raissa Sambou, The Spectator, Ghana (First Position)

ONLINE CATEGORY WINNERS

Emelia Naa Ayeley Aryee, Myjoyonline, Ghana (First Position)
Mariam Hamzat, Freelancer, Nigeria (Second Position)
Mariama, Dem Star.gm, The Gambia (Second Position)

RADIO CATEGORY WINNER

Evelyn Kpadeh Seagbeh, New Narratives, Liberia (First Position)
Mavis Offei Acheampong, Ghana Broadcasting Corporation (GBC), Ghana (Second Position)

MULTIMEDIA CATEGORY WINNERS

Emmanuel Samani, TV3, Ghana (First Position)
Stanley Nii Blewu, TV3, Ghana (Second Position)

Here are the Winners from Southern African Countries in partnership with The First Lady of Malawi, H.E. MONICA CHAKWERA; The First Lady of Zambia, H.E. MUTINTA HICHILEMA; The First Lady of Zimbabwe, H.E. Amai Dr. AUXILLIA MNANGAGWA:

PRINT CATEGORY WINNERS

Melody Mupeta, Zambia Daily, Zambia (First Position)
Moses Mugugunyeki, The Standard, Zimbabwe, (Second Position)
Gresham Ngwira, Freelancer, Malawi (Second Position)
Sonja Smith, The Namibian, Namibia  (Third Position)

ONLINE CATEGORY WINNERS

Michael Magoronga, Zimpapers, Zimbabwe (First Position)
Munyaradzi Blessing Doma, ZimNow, Zimbabwe (Second Position)
Caroline Mapando, Africabrief, Malawi (Third Position)

RADIO CATEGORY WINNERS

Charlotte Nambadja, Desert Radio, Namibia (First Position)
Britta Mpata Blantyre, Synod Radio, Malawi (First Position)
Sera Tamina, Radio Icengelo, Zambia (Second Position)
Monde Chaba, Zambia National Broadcasting Corporation, Zambia (Third Position)

MULTIMEDIA CATEGORY WINNERS

Mirriam Kayemba, CAMNET TV,  Zambia (First Position)
Alepher Kasongo, MBC News, Malawi (Second Position)

Here are the winners from East African Countries:

PRINT CATEGORY WINNERS

Marco Maduhu, Nipashe Newspaper, Tanzania (First Position)
Elizabeth Angira, MT Kenya Times and People Daily, Kenya (First Position)
Shaban Njia, Nipashe Newspaper, Tanzania (Second Position)

ONLINE CATEGORY WINNERS

Moraa Obiria, Nation Media Group, Kenya (First Position)
Isabella Maua Chemosit, The Times, Kenya (Second Position)
Aveline Kitomary, Tanzania Standard, Tanzania (Third Position)
Sophia Rukwaro, Black Hustlers TV, Kenya (Third Position)
Hudson Kuteesa, The New Times, Rwanda (Third Position)
Beatrice Philemon Mukocho, The Guardian Newspaper, Tanzania (Third Position)

RADIO CATEGORY WINNERS

Caren Waraba Sisya, Citizen Radio, Kenya (First Position)
Olga Fadhil Lungala, Moshifm Radio, Tanzania (Second Position)
Adam Hhando, CG FM, Tanzania (Second Position)
Namale Hajara Shahista, CBS FM, Uganda (Third Position)
Angela Kezengwa, Citizen Radio, Kenya (Third Position)

MULTIMEDIA CATEGORY WINNER

Walter Mwesigye, NTV Uganda, Uganda (First Position)
Elizabeth Atieno Ochieng, TV 47 KENYA, Kenya (Second Position)

Here are the winners from French Speaking African Countries in partnership with The First Lady of Burundi, H.E. ANGELINE NDAYISHIMIYE:

PRINT CATEGORY WINNER

Koami Agbetiafa, Societe, Niger (First Position)
Astère NDUWAMUNGU, www.lerenouveau.bi, Burundi (Second Position)
Traore Brehima, The TOGUNA, Mali (Third Position)

ONLINE CATEGORY WINNERS

Mêmèdé Ambroisine Azododassi, Savoir News, Togo (First Position)
AYIBE Ablavi Ayélo, SAVOIR NEWS, Togo (Second Position)
Jessy NZENGU, lualabamaprovince.com, DRC (First Position)
Haburanimana Gérard, Agaseke.bi, Burundi (Third Position)
JEANINE NYABENDA, Ijisho Web Site News TV, Burundi (Third Position)

RADIO CATEGORY WINNERS

Cyriaque NDAYISHIMIYE, Radio TV BUNTU, Burundi (First Position)
Edmond Niyonkur, Radio Ubuzima-FM, Burundi (Second Position)

MULTIMEDIA CATEGORY WINNERS

Bahwa Ferdinand, Le Journal.Africa, Burundi (First Position)
Amadou BELLO, Balafon Direct, Cameroon (Second Position)

Here are the winners from Portuguese Speaking African Countries in partnership with The First Lady of Cabo Verde, H.E. Dr. DÉBORA KATISA CARVALHO:

ONLINE CATEGORY WINNERS

Ângelo Amaro Semedo, DW África, Cabo Verde (First Position)

RADIO CATEGORY WINNERS

Maria José Teixeira Veiga Macedo, Rádio de Cabo Verde, Cabo Verde (First Position)

MULTIMEDIA CATEGORY WINNERS

Edineia Barros, TV Cabo Verde, Cabo Verde (First Position)

Winners of Merck Foundation “Diabetes&Hypertension” Media Recognition Awards 2023

Here are the winners from West African Countries in partnership with The First Lady of Ghana, H.E. REBECCA AKUFO-ADDO:

PRINT CATEGORY WINNER

Jennifer Ambolley, Chronicle, Ghana (First Position)
Godwin Awuni Anafo, Daily Graphic, Ghana (Second Position)

ONLINE CATEGORY WINNERS

Odimegwu Onwumere, thenigerianvoice.com, Nigeria (First Position)
Muniratu Akweley Issah, Ghana News Agency, Ghana (Second Position)
Cecilia Lagba Yada, Ghanaian Times, Ghana (Third Position)

MULTIMEDIA CATEGORY WINNER

Grace Hammoah Agyemang, TV3, Ghana (First Position)

Here are the Winners from Southern African Countries in partnership with The First Lady of Malawi, H.E. MONICA CHAKWERA; The First Lady of Zambia, H.E. MUTINTA HICHILEMA; The First Lady of Zimbabwe, H.E. Amai Dr. AUXILLIA MNANGAGWA:

PRINT CATEGORY WINNER

Ed-Grant Ndoza, Malawi News Agency, Malawi (First Position)

ONLINE CATEGORY WINNERS

Maria Kandjungu, Unwrap, Namibia (First Position)
Alain Kabinda, Daily News Agency, Zambia (Second Position)
Rosalia Hipondoka, DBS Blogposts, Namibia (Third Position)
Phillipa Mwazvita Chinhoi, Herald.co, Zimbabwe (Third Position)

RADIO CATEGORY WINNERS

Henry Haukeya, MBC Radio, Malawi (First Position)
Sylviah Chisi, Trans World Radio Malawi (TWR), Malawi (Second Position)
Martha Mzumara, Trans World Radio Malawi (TWR), Malawi (Third Position)

Here are the winners from East African Countries:

PRINT CATEGORY WINNER

Christina Stephen Mwakangale, Nipashe, Tanzania (First Position)

ONLINE CATEGORY WINNERS

Lucy John Bosco, Mwananchi Online, Tanzania (First Position)
Dorcas Wangira, BBC, Kenya (Second Position)
Veronica Romwald Mrema, Freelancer, Tanzania (Third Position)
Tulinagwe Alison Malopa, Gazetini, Tanzania (Third Position)

RADIO CATEGORY WINNERS

Mildrine Nafula Sabwami, North Rift Radio FM, Kenya (First Position)
Mwanaisha Mohamed Makumbuli, Highlands FM Radio, Tanzania (Second Position)

Here are the winners from French Speaking African Countries in partnership with The First Lady of Burundi, H.E. ANGELINE NDAYISHIMIYE:

PRINT CATEGORY WINNERS

Moïse NKURUNZIZA, Le Renouveau du Burundi, Burundi (First Position)

ONLINE CATEGORY WINNERS

Akossiwa Agossivi YIBOKOU-MENSAH, SAVOIR NEWS, TOGO (Second Position)
Cassien Tribunal Aungane, Diplomacy&Development, DRC (First Position)
Petga Tonga Valgadine, lavoixdukoat.com, Cameroon (Third Position)

RADIO CATEGORY WINNERS

Honorine NININAHAZWE, Burundi National Radio, Burundi  (First Position)
Maurice TUNINAHAZIMANA, Radio TV Buntu,          Burundi (Second Position)
Rémy RUKUNDO, TV BUNTU, Burundi (Third Position)
 

Here is the winner from Portuguese Speaking African Country in partnership with The First Lady of Mozambique, H.E. ISAURA FERRÃO NYUSI:

RADIO CATEGORY WINNER

Abdul Ibraimo, Radio of Mozambique, Mozambique (First Position)

Details of Merck Foundation Media Awards 2024:

1. Merck Foundation Africa Media Recognition “More Than a Mother” Awards 2024

Theme for the awards: Breaking Infertility Stigma, Supporting Girl Education, Women Empowerment, Ending Child Marriage, Ending FGM, and/or Stopping GBV at all levels.

Who can apply: Journalists from Print, Radio, Online, and Multimedia platforms from the following groups:

Southern African Countries
West African Countries
East African Countries
French Speaking African Countries
Portuguese Speaking African Countries

Submission deadline: 30th September 2024.

2. Merck Foundation Media Recognition “Diabetes&Hypertension” Awards 2024

Theme for the awards: Promoting a healthy lifestyle and raising awareness about prevention and early detection of Diabetes and Hypertension.

Who can apply: Journalists from Print, Radio, Online, and Multimedia platforms from the following groups:

Southern African Countries
West African Countries
East African Countries
French Speaking African Countries
Portuguese Speaking African Countries
Latin American Countries
Asian Countries

Submission deadline: 30th October 2024.

All entries are to be submitted to Kindly note, sending multiple relevant entries for both the categories will increase the chances of winning the award.

Click on the icon below to Download Merck Foundation App https://apo-opa.co/3yUVPjg

Distributed by APO Group on behalf of Merck Foundation.

Contact details:
Mehak Handa
Community Awareness Program Manager
+91 9310087613/ +91 9319606669
mehak.handa@external.merckgroup.com

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About Merck Foundation:
The Merck Foundation, established in 2017, is the philanthropic arm of Merck KGaA Germany, aims to improve the health and wellbeing of people and advance their lives through science and technology. Our efforts are primarily focused on improving access to quality&equitable healthcare solutions in underserved communities, building healthcare and scientific research capacity and empowering people in STEM (Science, Technology, Engineering, and Mathematics) with a special focus on women and youth. All Merck Foundation press releases are distributed by e-mail at the same time they become available on the Merck Foundation Website. Please visit www.Merck-Foundation.com to read more. Follow the social media of Merck Foundation: Facebook (https://apo-opa.co/3Xbc4D0), Twitter (https://apo-opa.co/4aTy5sW), Instagram (https://apo-opa.co/3x7ius3), YouTube (https://apo-opa.co/4ejGIjF) and Flickr (https://apo-opa.co/4ejGKbh).

Rabat, a 100% Moroccan company that provides cutting-edge solutions to cyberthreats, took part in the second edition of the GITEX Africa (www.GITEXAfrica.com) Morocco exhibition, organized in Marrakech between May 29 and 31, 2024.

Founded in 2022 by Moroccan entrepreneurs and cyber security experts with over 15 years of experience, Polymorpho has always been committed to defying the complexity of cyber threats through innovative and adaptive solutions for individuals, companies, governments, intelligence agencies, and law enforcement agencies to prevent and investigate cybercrime.

Reda Cherqaoui, Executive Chairman and Co-Founder of Polymorpho, confirmed that the Moroccan cyber security company used their global expertise and know-how to launch their own venture.

Indeed, after many years of experience in France, the United Arab Emirates, and Singapore, the Moroccan founders have chosen to return home and Africa to create Polymorpho, a company offering a comprehensive range of services and solutions meeting the diverse cyber security needs of each organization.

At GITEX Africa 2024, Polymorpho demonstrated to visitors and potential partners how their constant research and development make it possible for them to be ahead of increasingly diverse and rapid attacks.

Through this event bringing together all digital players from throughout Africa, the continent keeps demonstrating to the world that the future of digital innovation is being formed by extraordinary abilities. Yet in cyber security alone, the potential and improvements to be made in Africa are quite substantial.

In fact, according to the most up-to-date statistics by Nairametrics, cyberattacks against African firms increased by 20% in Q1 2024 when compared to the same time last year.

While there was a 5% rise in the average number of attacks per firm globally compared to the same quarter last year, the research found that African organizations saw the most attacks compared to others.

With an increasingly attacked continent, the need for effective and adaptive cyber security measures is imminent.

Polymorpho is ready for the challenge with their cutting-edge services and solutions in defensive security, offensive security, and cyber intelligence.

According to the Polymorpho team, being part of Gitex Africa was a great way to meet key partners and clients in need of more adaptive and tailored solutions. Polymorpho is motivated to keep inventing and pushing the limits of traditional cyber security solutions. We are honored to represent Morocco on the global scene and to demonstrate that Africa has nothing to envy from other continents in terms of technology, innovation, and cyber intelligence.

To discover more about their diversified range of solutions, read more on their website. www.Polymorpho.com

Polymorpho at Gitex Africa 2024: https://apo-opa.co/4cfbpEA

Distributed by APO Group on behalf of GITEX Africa.