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IFC, Proparco, Helios partner to support Africa’s sports, entertainment industries

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The International Financial Corporation (IFC) has announced partnership plans with French development finance institution, Proparco, and Helios Sports and Entertainment Group to support and drive the expansion of sports and entertainment industries in Africa.

Makhtar Diop, the Managing Director of IFC, who disclosed the partnership in a statement, said the IFC, a member of the World Bank Group, is on the verge of concluding plans with Proparco, a subsidiary of the Agence Française de Développement Group (AFD Group), and the Helios Group to strengthen its support for the sectors in Africa.

“A partnership with Helios Sports and Entertainment would offer an opportunity for IFC and Proparco to jointly address a long history of limited financing in Africa’s creative sectors, including sports and entertainment, and catalyze private sector development in the region.

“The African sports and entertainment are promising routes to accelerate growth and scale innovation on the continent.

“Africa is a key market in IFC’s creative industries strategy, targeting many verticals, such as e-commerce, arts and craft, fashion, audiovisual content, technology, and now sports and entertainment.

“Joining forces with partners like Proparco and Helios will lead to scalable opportunities to transform the creative economy in Africa, encourage local talent and drive homegrown development.

“The partnership would focus on exploring joint investment opportunities that can help grow economies and support jobs in the region through sectors that have the potential to bring dynamism, youth employment, value-added exports, and that also can strengthen ancillary sectors such as tourism, real estate, creative economies, and media,” Diop said in the statement.

Françoise Lombard, Chief Executive Officer, Proparco, who also commented on the impending partnership, said by supporting private partners such as Helios Sports and Entertainment Group, Proparco is stepping-up its commitment to cultural and creative industries as well as celebrating Africa’s creativity.

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Moroccan recruitment startup Kwiks raises $827k funding to develop AI-driven solutions

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Moroccan recruitment startup, Kwiks, has announced raising MAD8 million ($827,000) in funding from Azur Innovation Management (AIM) to help it accelerate the development of its AI-driven solutions.

Co-founder and CEO of Kwiks, Amine Khayatei Houssaini, who made the announcement, said the new funds would enable the platform to continue innovating and providing cutting-edge solutions to its clients.

“This investment will allow us to continue innovating and providing cutting-edge solutions to our clients, while strengthening our position in the local and international markets,” Houssaini said.

He added that the funds would be used to enhance the recruitment platform by accelerating the development of AI-driven solutions, as well as developing new features, such as R2DS solutions that generate automated candidate reports.

Founded in 2013 by Houssaini and Karim Kaoukabi, (more…)

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Starlink launches high-speed Internet services in Burundi

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Elon Musk’s Starlink has announced launching its high-speed internet services in Burundi after the president granted the company an official licence to operate within the country.

The licence was awarded to the satellite-based internet provider under the oversight of the Telecommunications Regulation and Control Agency (ARCT) of Burundi, with its Director-General responsible for implementing the decree.

A statement by the ARCT said the development marked a significant step toward improving internet connectivity, following the issuance of an operating licence in May 2024, granted through a presidential decree.

“This development marks a significant step forward in improving internet access for the people of Burundi,” the ARCT said.

Burundi, one of the world’s poorest countries, currently has one of the lowest rates of internet usage globally, largely due to high costs and limited infrastructure.

With the launch of the high-speed internet services, Burundi becomes the latest of 14 African nations to adopt Starlink’s Low Earth Orbit (LEO) satellite constellation, aiming to enhance satellite internet services across the country. The company is set to expand its operations to several additional countries by the end of 2024.

Starlink is now available in 15 African nations, following its recent launch in Zimbabwe. Other African countries that have gained access to Starlink include Kenya, Nigeria, South Sudan, Rwanda, and Zambia.

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