The Enabling Festival 2022 (賦智生活节) opens for the fifth year, aims to support a dementia-friendly Singapore through The Power of Touch

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SINGAPORE – Media OutReach – 23 September 2022 – The Enabling Festival 2022 opens on 23 September 2022 at National Gallery Singapore, with the key programme focus on the theme of Touch. COVID-19 has created a world of isolation and disrupted a fixed routine that many persons living with dementia live by. The lack of social and physical interaction has inevitably increased the burden and stress of caregiving. Too often we have underestimated the power of touch and its potential to heal when words become cumbersome. The festival aims to remind participants that touch is memory and is where we begin our journey to communicate, through a series of thought-provoking and engaging festival programmes. Visitors can expect to learn practical skills and ideas to help close the gap, as well as real-life experiences of persons living with dementia and their caregivers.

www.enableasia.org.

ABOUT THE MAJURITY TRUST

The Majurity Trust is a philanthropic organisation that seeks to work with donors and charities to build a thriving and sustainable community for all in Singapore. For more information, visit .

ABOUT AGENCY FOR INTEGRATED CARE

The Agency for Integrated Care (AIC) aims to create a vibrant care community for people to live well and age gracefully. AIC coordinates and supports efforts in integrating care to achieve the best care outcomes for their clients. They reach out to caregivers and seniors with information on staying active and ageing well, and connect people to services they need. AIC supports stakeholders in their efforts to raise the quality of care, and also work with health and social care partners to provide services for the ageing population. Their work in the community brings care services and information closer to those in need. For more information, please visit .

ABOUT DEMENTIA-FRIENDLY SINGAPORE

The Dementia-Friendly Singapore (DFSG) is an initiative, led by AIC and in collaboration with community partners, announced by the Ministry of Health in 2016 to address the dementia prevalence in Singapore. DFSG initiative aims to build an inclusive society whereby people know about dementia and mental wellness as well as persons living with dementia and their families feel respected, valued and confident to live well in the community.

ABOUT NATIONAL GALLERY SINGAPORE

is a leading visual arts institution which oversees the world’s largest public collection of Singapore and Southeast Asian modern art. Situated at the birthplace of modern Singapore, in the heart of the Civic District, the Gallery is housed in two national monuments—City Hall and former Supreme Court—that have been beautifully restored and transformed into this exciting 64,000 square metre venue. Reflecting Singapore’s unique heritage and geographical location, the Gallery aims to be a progressive museum that creates dialogues between the art of Singapore, Southeast Asia and the world to foster and inspire a creative and inclusive society. This is reflected in their collaborative research, education, long-term and special exhibitions, and innovative programming.

Title Sponsored by Hysan Development: Celebrating the 65th Anniversary of YAM-PAK-TONG’s Floral Princess

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A Collection of Coeng-ping Images 65 ; October 16 – 25, 2022 at Lee Theatre Plaza

A Photographic Recreation of Princess Coeng-ping’s Special Qualities with A Modern Twist

HONG KONG SAR – Media OutReach – 23 September 2022 – 2022 marks the 65th anniversary of YAM-PAK’s interpretation of TONG Tik Sang’s Floral Princess which made its debut at Hong Kong’s premier event venue Lee Theatre in 1957. Utopia Cantonese Opera Workshop, a group actively promoting modern Cantonese opera, is celebrating this milestone with “Floral Princess 65 – A Series of Nine Events” in 2022. Utopia is also co-organising a photographic exhibition titled “A Collection of Coeng-ping Images 65” with the exhibition’s title sponsor Hysan Development. This 65th anniversary showcase, staged at Lee Theatre Plaza on the former site of Lee Theatre, features the works of more than 10 artists from various disciplines. Utopia has also invited photography fans from the general public to submit entries, andelected images will be displayed alongside the artists’ creations. 65 in total, these images will portray their impressions of Princess Coeng-ping in a modern approach to celebrate this special anniversary. The exhibition runs from October 16 to 25, 2022 at Lee Theatre Plaza (G/F foyer, 1/F and 2/F). The exhibits are selected by a panel comprising more than 10 artists of various disciplines and photography fans from the general public.

Photographic artists and a wide spectrum of artists from different disciplines and age groups have been invited to participate in the production of A Collection of Coeng-ping Images 65. Renowned artists and celebrities who have contributed to the showcase include (in no particular order):

  • Michelle YIM (film / TV star)
  • Wing SHYA (photographer | film / ad director)
  • Bryan WONG (advertisement creativity)
  • Lawrence NG (photographer@Work House)
  • YEE Chung-man (art director | film director)
  • Rebecca LEE (polar science worker)
  • LO Yuk-ying (photographer)
  • Yuri NG (artistic director, City Contemporary Dance Company)
  • anothermountainman (visual communicator) x MUI Cheuk-yin (dancer | choreographer)
  • CHOW Chun-fai (paint artist)
  • Mathias WOO (artistic director, Zuni Icosahedron) x LAI Tat-tat-wing (cartoonist)
  • LEUNG Hoi-ping (photographer)
  • KWAN Pun-leung (cinematographer | photographer)
  • PAN Lingjuan (dancer)
  • CHANG Kuei-ling (dancer).

LEE Hysan Family and Hysan’s Ties with Lee Theatre and Cantonese Opera

With his family members being Cantonese opera fans, Mr LEE Hysan decided to build a performance venue right next to Lee Garden Amusement Park, and named it Lee Theatre. Designed by a French architect based on the classic Italian opera house, it was completed in 1927. Home to the first 360-degree revolving stage in Hong Kong, it had two thousand seats in different sections. From the 1920s onwards, Lee Theatre had established itself as Hong Kong’s premier performance venue. Boasting a convenient location, unique architectural character and superb facilities, its status remained unrivalled until the venue’s decommission in the early 1990s.

Together with Lee Garden Amusement Park and later Lee Gardens Hotel’s performing venues like Yum Sing Bar, Lee Theatre transformed Causeway Bay into a bustling hub of quality entertainment in Hong Kong. In the early to mid-20th century, local Hong Kong Chinese had very few places to enjoy their leisure time. The LEE family and Hysan took a pioneering role to promote culture and art in the community. In recent years, Hysan Development and its Lee Gardens Association continue to support art and culture in the community. Hysan sponsored or created the following:

  • Premiere Performances of Hong Kong’s musical performances.
  • extraordinary large-scale paper art installation “The Cityscape” in 2020, incorporating everyday elements to display different faces of Hong Kong cherished by the public.
  • “disconnect HK” an art show in the Lee Gardens Area at the height of 2020 COVID days. An extension of Londons’ disconnect LDN, featuring works of Hong Kong artists in response to the COVID pandemic.
  • giant murals “Island Gardenia” and “Communion” on the facades of Lee Garden Two and Leighton Centre.
  • joint cultural project “Celebrating the Year of the Tiger” with the CUHK Art Museum to promote the highly influential and colourful Lingnan culture of China.
  • the first overseas solo exhibition of Japan’s highly popular budding artist Hikaru Matsubara ─ Happy, Be!
  • gLEEful rooftop art project at Lee Garden buildings, a continuation of roof culture in a novel way to invigorate the community with a showcase of traditional Hong Kong children’s games.

Hashtag: #hysan #LeeTheatre #FloralPrincess65 #CoengpingImages65

About Hysan

Hysan Development Company Limited is a leading property investment, management and development company with a core portfolio of over 4 million square feet of high-quality office, retail and residential space, situated in Hong Kong’s Lee Gardens. With roots in the city that go back 100 years, Hysan has focused on building the community, mixing the traditional and the new, applying technology and practicing sustainability. It has transformed the Lee Gardens area into a modern smart community, with a unique Hong Kong character, making it an attractive destination for leading multinational corporations, international visitors and local residents.

The Company has been growing its core portfolio through upgrades and expansion. It has also invested in strategic growth pillars which target opportunities brought about by the New Economy, with the aim of reinforcing Hysan’s business by geography and by sector. Among its strategic pillars are Lee Gardens Shanghai and an urban renewal project in To Kwa Kwan. Hysan has been listed on the Stock Exchange of Hong Kong since 1981 under stock code 00014.

OPPO Holds “Design in Tech” Workshop, Interpreting Innovative and Elegant Design Aesthetics of OPPO Products

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Principal of Zaha Hadid Architects, RCA Professor Gather to Discuss the Fusion of Technology and Design

LONDON, UK – Media OutReach – 23 September 2022 – OPPO presented at the 2022 London Design Festival as the support partner and hosted Design in Tech Workshop interpreting the innovative and elegant design aesthetics of OPPO, and the mission to elevate life through technological artistry. Design professionals including Patrik Schumacher, Principal of Zaha Hadid Architects (ZHA), Professor Rama Gheerawo, Director of The Helen Hamlyn Centre for Design at Royal College of Art, and young creators shared their experiences, and discussed about the fusion of technology and design.

During the festival, OPPO also holds OPPO Renovators 2022 exhibition, featuring classic product designs and the winning entries from Renovators Emerging Artists Project.

In recent years, OPPO has continued to explore innovation in new form factors of smartphone. After several years of refinement and innovative breakthroughs, Find N brings the overall using experience of a foldable smartphone to a whole new level. Neil Monger, OPPO Product Marketing Manager, talked about the Find N’s golden ratio and waterdrop hinge design stories. To ensure that the screen of OPPO X 2021 rollable phone automatically retracts and extends smoothly as a picture scroll, structural engineers and designers have implemented several technical innovations into the rollable display and traceless design. This not only retains the thin appearance of the rollable display to greater extent but also proposes new possibilities for the future development of intelligent devices.

Professor Rama Gheerawo, an advocate of inclusive design, talked about the importance of inclusive design: “A core component of accessibility is the human reaction, such as the joy you feel when holding a phone with a comfortable, smooth tactile touch. That is a part of accessibility and a part of Inclusive Design.”

Encouraging Art and Tech Innovations, OPPO Aims to Build a Global Community for Young Artists to Exchange Ideas and Grow

In 2019, OPPO launched the Renovators Emerging Artists Project. By initiating a global competition, OPPO aims to empower young creators worldwide and encourage them to innovate through art and tech. During the London Design Festival, OPPO also held the Renovators 2022 Exhibition at the Cromwell Place. The artworks presented in the exhibition were from the 2022 Renovators global competition which ended in early September. After the workshop, participants also went to the exhibition area to enjoy the artworks created by young artists from more than 30 countries. The exhibition attracted a large number of visitors who were captivated by the imaginative and creative works of art and the exquisite designs of OPPO products.

Participants of Renovators 2022 showed their unique thinking around topics such as smart living, low-carbon and environment protection, traditional culture inheritance, technology, human society development, and many others. OPPO hopes that young creators around the world will gain inspirational strength to overcome challenges, and maintain their passion for creation.

Hashtag: #OPPO

About OPPO

OPPO is a leading global smart device brand. Since the launch of its first mobile phone – “Smiley Face” – in 2008, OPPO has been in relentless pursuit of the perfect synergy of aesthetic satisfaction and innovative technology. Today, OPPO provides a wide range of smart devices spearheaded by the Find X and Reno series. Beyond devices, OPPO also provides its users with ColorOS operating system and internet services such as OPPO Cloud and OPPO+. OPPO has footprints in more than 60 countries and regions, with more than 40,000 employees dedicated to creating a better life for customers around the world.

Daiwa and Morgan Stanley Reaffirm “Buy” Rating on Fosun

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Both Firms Believe Fosun’s Cash Position is Sufficient to Repay its Debts Obligations

HONG KONG SAR – Media OutReach – 23 September 2022 – Recently, a number of investment banks have expressed their continuous optimistic views on Fosun International Limited (HKEX stock code: 00656, “Fosun International”). Following Morgan Stanley’s third recognition of Fosun International’s solid financing capability and reiteration of its “Overweight” rating on Fosun International, Daiwa Capital Markets also issued a research report yesterday, reaffirming its “Buy” rating and target price of HK$10.8 on Fosun International. The firm pointed out that Fosun International’s fundamentals, funds and liquidity position are stable.

In view of the recent market concerns on Fosun’s repayment ability, Daiwa Capital Markets conducted an analysis and estimated that with Fosun’s cash in hand and the cash raised from its recent asset sales, Fosun’s cash position is sufficient to repay short-term maturing debts. The firm estimated that the actual debt attributable to Fosun International stands at approximately RMB100 billion at the holding level; as of 30 June, the company’s cash, bank balances and term deposits amounted to RMB117.65 billion. The firm estimated that Fosun International has RMB14 billion cash in hand at the holding level, after stripping off cash from subsidiaries. In addition, Fosun’s short-term maturing debt is composed of bonds and bank loans. The firm believes that most of Fosun’s short-term bank loans are extendable upon maturity, coupled with the cash raised from the recent asset sales, as well as the close cooperation between Fosun and banks, including the recent strategic cooperation with ICBC and HSBC, will help Fosun International lay a solid cash foundation.

Morgan Stanley Reiterated its “Overweight” Rating on Fosun International for the Third Time

Morgan Stanley issued a research report on 16 September, the report said that most of Fosun’s debt at the consolidated level reported in its recent interim results announcement consists of lending by Fosun’s operating subsidiaries. The firm estimated that the debt at the holding company, including onshore debt, offshore debt and bank loans, is much lower. In terms of cash, with a tightening credit market, it is understandable that the company needs to take quick action to convert liquid assets into cash. It is estimated that the cash generated from its recent asset sales, together with its cash on hand is getting closer to being able to repay its near-term debt obligations. Morgan Stanley has therefore reiterated its “Overweight” rating on Fosun International with a target price of HK$11.4.

Morgan Stanley has already issued a research report on 7 September, pointing out that although Fosun International has recently announced a few small divestments in its core subsidiaries, which raised concerns about the company’s near-term stability, Morgan Stanley has confidence in Fosun International’s financing capability and believes the company can raise enough cash to handle its debts and withstand the recent market pressure, the company is deleveraging further to rebuild confidence. In fact, following Morgan Stanley’s release of research report on Fosun International’s interim results on 31 August, Morgan Stanley pointed out Fosun’s financial position is solid, with ample and increased cash position. As at the end of the reporting period, the company’s cash, bank balances and term deposits increased by approximately RMB21.0 billion to RMB117.65 billion, covering 45% of its total consolidated debt position; the debt to capital ratio was 56.8%. It believes that the Group’s balance sheet still largely stable.

Hashtag: #Fosun

The issuer is solely responsible for the content of this announcement.

Downward Trajectory Persists In Local Bourse

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Downward Trajectory Persists In Local Bourse

The Nigerian All-Share Index extended its negative performance, declining further by 0.47% to close at 49190.34 points.

The performance was due to selling pressures in bellwether stocks such as BUACEMENT (-6.18%) and GUINNESS (-5.57%). Consequently, the YTD return decreased to 15.16% as market capitalisation fell by ₦124.91 billion to close at ₦26.53 trillion.

The sectoral performance significantly weakened as four of the five indices under coverage declined while the Banking index, the gainer, improved by 0.42% on ZENITHBANK (+0.25%). The Industrial index, the biggest loser, declined by 2.30% on  BUACEMENT (-2.30%). The Consumer Goods, Insurance and Oil & Gas indices followed suit, falling by 0.36%, 0.32% and 0.20% on GUINNESS (-5.57%), CORNERST (-10.00%) and OANDO (-1.21%) respectively.

Investors’ sentiment weakened as the market breadth declined to 0.71x from 0.83x. This was illustrated by the advance of 10 stocks, led by TRANSEXPR (+8.70%) and NEM (+2.67%) and the decline of 14 stocks, led by CORNERST (-10.00%) and MULTIVERSE (-9.09%). Activity level strengthened as the total volume and value improved by 144.50% and 202.00% as investors exchanged about 126.84mn units of shares worth over ₦1.78bn.

We expect positive sentiment to return in the next trading session as the equities market still presents decent opportunities for investors chasing positive real returns on investments.

Fixed Income

There was bearish sentiment across the bond yield curve as three of the four bond yields under coverage closed higher while the FGN-JUL-2030 closed flat at 12.81%. The yields on the FGN-APR-2023, FGN-MAR-2024 and FGN-JAN-2026 advanced by 2bps, 25bps and 25bps respectively.

The Treasury bill yields for the 91, 182 and 364-day papers compressed by 23bps, 14bps and 31bps to close at 11.25%, 5.37% and 6.45% respectively.

We expect market activity to be influenced by the liquidity levels in the financial system.

MARKET SNAPSHOT

  • Downward Trajectory Persists in the Local Bourse, NGX ASI Loses 47bps
  • Bearish Sentiment across the Bond Yield Curve
  • Negative Performance in Global Stocks
  • Positive Performance in the Commodities Market
  • Negative Performance in African Stocks

Binance Announces Global Advisory Board

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Binance Announces Global Advisory Board

Binance , the world’s largest cryptocurrency exchange by trading volume, is pleased to announce the creation of its new Global Advisory Board (GAB), comprised of distinguished experts in public policy, government, finance, economics, and corporate governance.

The Global Advisory Board, chaired by former US Senator and Ambassador to China, Max Baucus, recently convened in Paris, France. The board’s purpose is to advise Binance on some of the most complex regulatory, political, and social issues the entire crypto industry faces as it grows and evolves at a fast pace.

“For the past five years, Binance has been at the forefront of pioneering the exciting new world of crypto, blockchain, and Web3,” said Binance founder and CEO Changpeng Zhao. “In that time, we’ve tackled complex issues no one even knew existed. We’ve maintained our focus throughout on delivering compliance solutions that protect the interests of crypto users, while keeping a brisk pace of socially-beneficial innovation. The GAB represents the next big step forward in our journey to share the benefits of modern finance and the blockchain with the entire world.”

“The blockchain and crypto industry can act as a true catalyst for growth and economic opportunities. For the cities that are willing to partner with companies like Binance in order to create progressive regulations and an effective Web3 environment, I expect it to enable a number of investments into the space. I look forward to working with a number of experts as part of Binance’s Global Advisory Board in order to collaborate,” said South Africa’s Leslie Maasdorp.

Prior to joining Binance’s Global Advisory Board, Leslie has served as the Vice President and Chief Financial Officer of the New Development Bank, Former MD & President for Southern Africa at Bank of America Merrill Lynch, Former Vice Chairman of Barclays Capital and Former International Adviser to Goldman Sachs.

Binance is harnessing the GAB’s unrivaled collective experience and expertise to benefit the sustainable development of the industry as a whole, by weighing in on the toughest and most sensitive regulatory and compliance issues facing crypto, blockchain, and Web3.

“We always put our users first, and that’s served as a very effective North Star for us over the past five years of unprecedented, exciting growth,” Zhao said. “With the GAB, we’re supercharging our ability to manage regulatory complexity by tapping into the highest level of expertise available anywhere in the world. This collaboration between Binance and the leading experts of the GAB is a testament to our focus on compliance, transparency and ensuring a collaborative relationship with the world’s regulators as they develop sensible regulations worldwide.”

The GAB’s roster includes:

Max Bacus

USA

Former U.S. Ambassador to the People’s Republic of China; Former U.S. Senator Montana; Former Chairman of Senate Committee on Finance
Ibukun Awosika

Nigeria

First Female Chairman, First Bank of Nigeria; Founder, The Chair Centre group; Chairman, Nigerian Advisory Board, for Impact Investing and Convention on Business Integrity; Member G7 International Task Force for impact investing; Author of several books
HyungRin Bang

Korea

Advisor of the Korea Presidential Committee; PR/Communications Advisor of Yoon Seuk-Yul’s 2022 Presidential Campaign; Former CEO, SoftForum Inc.; Former Executive Director, Hyundai; Former Executive Director, Samsung;
Bruno Bezard

France

Managing Partner of Cathay Capital; Former Vice Minister of Finance; Former Economic Advisor to the French Prime Minister; Former head of the French Treasury
Leslie Maasdorp

South Africa

Vice President and Chief Financial Officer of the New Development Bank; Former MD & President for Southern Africa at Bank of America Merrill Lynch; Former Vice Chairman of Barclays Capital; Former International Adviser to Goldman Sachs.
Henrique de Campos Meirelles

Brazil

Former Minister of the Economy, Former President of the Central Bank of Brazil, Former Chair of J&F’s board of directors, Former Member of the Board of Directors of Azul Brazilian Airlines, Former President, Bank Boston; Former President of Global Banking, Fleetboston Financial; Former Board member, Raytheon Corporation, Bestfoods and Champion International. Former Member of the Council of Lloyd’s of London; Former Chairman of Lazard Americas.
Adalberto Palma

Mexico

Honorary Board Member of The Aspen Institute Mexico; Former Senior Advisor at the Chief of Staff Office to the President of Mexico; Director of Business Development at BEworksMX Consulting; Former President of the CNBV; Founding Chairman of The Center for Excellency in Corporate Governance. Independent Director of the Institute for Savings Protection; President of Bankers Trust Mêxico, Colombia and Venezuela; Managing Director of Citibank Mexico.
David Plouffe

USA

Business, Non-Profit and Political strategist; Author, Member of Various Boards of Directors; Former Campaign Manager Senior Advisor to President Obama in the White House
Christin Schäfer

Germany

Founder and Managing Director of acs plus; Former Group Risk Operating Officer, Erste Group Bank; Former Global Head of Quantitative Solutions, Deutsche Bank, Member of the Data Ethics Commission, German Federal Government
Lord Vaizey

UK

Member of the House of Lords; Former Minister and Member of Parliament
David Wright

Europe

Chair, EUROFI; Former Secretary General, IOSCO, Former European Commission; Dep DG Financial markets, European Commission

GAB Quotes:

Max Baucus: “Of all the technologies with the potential to create positive disruption, the world of crypto, blockchain, and Web3 is among the most exciting and the most promising. That’s why it is a great pleasure to participate in setting up the Binance Global Advisory Board, and bringing the group’s unrivaled collective expertise to bear in solving complex problems with a socially positive outcome.”

Lord Ed Vaizey: “Blockchain and Web3 technologies promise to be foundational to the future of the internet and the financial system at large. The next few years will be vital in setting the tone for the future of this nascent industry around the world. Helping the Binance Global Advisory Board chart a path through these challenges is a privilege and I look forward to working more closely with the impressive group that Binance has brought together.”

David Wright: “Cryptocurrencies are increasingly challenging traditional finance. As they grow and the regulatory landscape evolves, the GAB will advise Binance how to define and shape the optimal global and regional development of future financial services, traditional and blockchain-enabled, and I look forward to working with distinguished GAB colleagues on these complex challenges.”

Bruno Bézard: “The cryptocurrency industry is at a crossroads as regulation begins to solidify globally. Binance has brought together a group that is as global as the industry it represents,

and brings together some of the world’s leading experts across the financial and political worlds. It is an honor to be invited to join them.”

Christin Schäfer: “With Web3, and the underlying blockchain technologies, come profoundly new ways of interacting with the internet and dealing with data. The Global Advisory Board that Binance has built brings together experts that can help guide the company and industry at large through managing the risks and challenges ahead.”

Ibukun Awosika (Nigeria): “The transparency and accountability with which Binance seeks to deliver services to its clients is impressive. As a company of the future, Binance must continue to evolve, build and find solutions in real time. I am proud to play a role as a member of its Global advisory board and to be a part of truly transforming the web3 economy.”

Leslie Maasdorp (South Africa): “The blockchain and crypto industry can act as a true catalyst for growth and economic opportunities. For the cities that are willing to partner with companies like Binance in order to create progressive regulations and an effective Web3 environment, I expect it to enable a number of investments into the space. I look forward to working with a number of experts as part of Binance’s Global Advisory Board in order to collaborate.”

Henrique de Campos Meirelles (Brazil): “Blockchain technology and cryptocurrencies are going to set the tone of the financial services of the future, with great benefits to the economies, financial inclusion and the quality of service that people have access to worldwide. The Binance Global Advisory Board, being composed of leading experts in many areas, will have a relevant role in helping this nascent and growing industry establish itself as regulations across the world evolve, so that we work to build a safe and sustainable ecosystem for all.”

Adalberto Palma Gómez (Mexico): “Cryptocurrencies and the whole blockchain ecosystem will increasingly impact people’s lives and benefit society with more democratic and accessible services to all. As the market grows and adoption scales, the Binance Global Advisory Board will help not only the platform but also all the industry evolve so that its future is sustainable and secure to societies. It is a privilege to work with this group and be part of this transforming moment.”

HyungRin Bang (Korea): “With the cryptocurrency and blockchain industry entering into new phases globally, it is inspiring to be part of the Binance Global Advisory Board, where esteemed experts from different fields join to discuss the industry’s sustainability. As an advocate of information and technology, Korea has substantially grown its domestic cryptocurrency and blockchain industry. I wish to add value to the GAB with insights I learned witnessing the growth of technology throughout my career.”

Bridges For Music Announce New Funding Partnership With Sony Music Africa

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Bridges For Music Announce New Funding Partnership With Sony Music Africa

Bridges For Music announced a new partnership today with Sony Music Group, through the company’s Global Social Justice Fund, designed to provide assistance, education and a safe space for at-risk youths through music and creative entrepreneurship across South Africa. 

Supported by key players in the music industry, Bridges for Music is a non-profit organisation based in Langa, Cape Town, that focuses on empowering young talent from under-served communities to become creative change-makers, equipping them with the psychosocial and entrepreneurial skills to thrive in the creative industries. Funding provided by the Global Social Justice Fund with Sony Music Africa sponsors scholarships for 15 young creatives, enabling them to join the organisation’s flagship Music MBA at the Bridges Academy in South Africa, a holistic program focused on empowering young creatives from underserved communities through music, creative entrepreneurship, well-being and access to work and career development opportunities in the industry through their employment program.

“We are honoured to be part of the Sony Music Global Social Justice Fund,” says Jaquelyne Kwenda, Partnerships and Fundraising Manager, Bridges For Music. “This funding will help accelerate the growth and sustainability of the organisation, allowing us to build upon the momentum created over the past nine years and potentially bringing our education model to new communities in the future.”

“Aligning with Bridges for Music has been a beautiful journey,” added Yule Dlamini, Digital Service Manager and Chair of the Social Justice Fund Committee for Sony Music Africa. “Their commitment to supporting vulnerable communities and continuous positive impact is something that really connects with all of our employees and playing a small role in their growth and ambition to make a difference is something we are truly honoured to be part of.”

The new funding builds on existing projects across the country with support from the Global Social Justice Fund. In April 2021, Sony Music Africa partnered with not-for-profit pan-African women empowerment platform, The Women of Music Business (WOMB), to launch a new ‘masterclass’ training programme, supporting women working in the African music industry and helping to build the next generation of senior female music executives in the continent. By the end of the year, Sony Music Group’s $100 million Global Social Justice Fund, announced in April 2020, will have donated to more than 400 organizations spanning more than 60 countries.

International Business Magazine’s latest praise: OctaFX becomes 2022’s Most Secure Broker in Indonesia

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JAKARTA, INDONESIA – Media OutReach – 23 September 2022 – The global broker OctaFX collected yet another industry accolade with 2022’s ‘Most Secure Broker Indonesia’ distinction. The Dubai-based International Business Magazine is the award’s issuer.

OctaFX is a global broker providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 150 countries who have opened more than 12 million trading accounts. Free educational webinars, articles, and analytical tools they provide help clients reach their investment goals.

The company is involved in a comprehensive network of charity and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities and small to medium enterprises.

In addition to the latest ones mentioned above, OctaFX has won more than 50 other awards since its foundation, including the 2021 ‘Best Forex Broker Asia’ award from Global Banking and Finance Review, the 2021 ‘Best ECN Broker’ award from World Finance, and the ‘Best Mobile Trading Platform 2022’ issued by Forex Brokers Awards.

Shareholders Unanimously Approve Holding Company Structure For Sterling

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Shareholders Unanimously Approve Holding Company Structure For Sterling

 Shareholders of Sterling Bank Plc unanimously voted in favor of the creation of a new non-operating holding company (HoldCo) to hold the shares in its commercial banking operation as well as the shares of a newly incorporated subsidiary, The Alternative Bank Limited, which will operate as a Non-Interest Banking (NIB) business.

At the end of a court-ordered meeting in Lagos yesterday, the shareholders gave the approval for the carve out and transfer of the Bank’s non-interest banking business to The Alternative Bank Limited, under a proposed scheme of arrangement between Sterling Bank Plc and the holders of its fully paid-up ordinary shares of 50 kobo each.
All the shareholders who attended the meeting approved the initiative and commended the foresight of the directors. They also advised the board and management to work hard to nurture new businesses in a bid to enhance the growth of the holding company.
Addressing shareholders at the meeting, Chairman of Sterling Bank, Mr. Asue Ighodalo said under the new arrangement, the assets, liabilities, and undertakings of the non-interest banking business will be carved out of the Bank and transferred to The Alternative Bank Limited.
Ighodalo said, “Following the implementation of the scheme, shareholders will exchange their shares in the Bank for shares in HoldCo in the same proportion as their current holdings in the Bank, which will be a regulated entity for CBN purposes.”
Under the evolving scenario, the HoldCo will be registered as a public company and Sterling Bank Plc will be delisted from the Daily Official List of the Nigerian Exchange Limited (NGX) and the Holdco will be listed in its stead and the Bank (Sterling Bank) will subsequently be re-registered as a private limited liability company.
The Chairman added that the scheme would provide several benefits to the shareholders of the Bank, some of which include facilitating diversification into other permissible business lines, thereby promoting growth and enhancing shareholder value and facilitation of a consolidated financial strength of the group, which will improve access and ability to raise capital.
He explained that the proposed restructuring will ensure that the Bank’s retail depositors are not exposed to the risks associated with the other activities of the rest of the group and the HoldCo structure will provide the subsidiaries with access to group-wide expertise of the parent company model.
He said the HoldCo structure will also allow the Bank to focus solely on its core operations as against the burden of providing oversight and managing other subsidiaries, adding that it will not result in any adverse changes to the rights and ownership of existing shareholders of the Bank.

Cameroon Joins Africa Finance Corporation In Push Towards Manufacturing Economy

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Cameroon Joins Africa Finance Corporation In Push Towards Manufacturing Economy

Cameroon is partnering with the Africa Finance Corporation (www.AfricaFC.org) to create infrastructure that will help transform the economy into a manufacturing hub from mostly raw mineral exports now, driving job creation, skills transfer and higher export revenue.

Joining as AFC’s 36th member state, Cameroon will be working with the Corporation on key infrastructure to deepen integration, enable import substitution, and develop manufacturing and industrial capacity to account for 40% of GDP, as part of the government’s Vision 2035 program. AFC, Africa’s leading infrastructure solutions provider, has to date allocated over US$300 million to Cameroon to capture value from the nation’s natural resources, which include maize, cassava, cotton, cocoa, oil and gas, as well as energy transition metals such as cobalt and nickel.

Cameroon Prime Minister Joseph Dion Ngute said: “We are committed to working with the AFC to quickly and sustainably build critical supporting infrastructure that will help with Cameroon’s development.”

With a mission of solving the continent’s most pressing challenges, AFC has invested over US$10 billion in the past 15 years, utilising its unique access to global capital markets to drive development, integrate regional economies and transform lives. Through its ecosystem investment approach, AFC has developed and financed projects such as the first carbon neutral industrial zone in Africa, the Nkok Special Economic Zone, which has made Gabon the largest exporter of veneer wood globally, generating US$1 billion in annual export revenue and creating over 30,000 jobs. Through a US$150 million investment, the approach is being replicated by the Arise platform in Benin and Togo to generate a projected US$750 million and US$2 billion in additional GDP, respectively.

AFC has partnered with 17 additional countries in the past four years, with Angola and Tunisia joining this year. Benefits for member nations include increased investment allocation, preferred access to AFC’s structuring and lending solutions, reduced project debt costs, and the Corporation’s advisory and project development services.

The largest economy in the Central African Economic and Monetary Union (CEMAC), Cameroon’s membership extends AFC’s footprint to cover more than half of central Africa, grouping Chad, Congo-Brazzaville, the Democratic Republic of Congo and Gabon.

President and CEO of AFC, Samalia Zubairu, said: “We are delighted to welcome Cameroon as a member of AFC. Our rapidly expanded membership is a sign of confidence in our past collaborations and demonstrates interest in partnerships and initiatives that will further drive economic development and play a critical role in enabling key infrastructure.”

Projects currently being explored by AFC and Cameroon include road modernisation and maintenance to boost trade in the region, and financing agricultural processing facilities to support the export of cotton seeds and soybeans.

In 2018, AFC made an investment in the Nachtigal Hydro Power Company, a 420MW power station that will boost Cameroon’s installed capacity by 30 percent and slash the cost of power generation. Four years earlier, the Corporation supported the modernisation and expansion of Cameroon’s national refinery, Société Nationale de Raffinage (Sonara).

Cameroon’s government is looking to public-private partnerships to help build infrastructure that can create more opportunities for beneficiation and deliver real impact to its diverse population.

“Having already invested $300 million in our country, AFC has a proven track record of delivering core infrastructure,” Prime Minister Ngute said. “We look forward to building upon our existing relationship.”

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