Fintech PR
CGTN: Joint pursuit of modernization: China, Africa eye new chapter in building a community with a shared future
BEIJING, Sept. 6, 2024 /PRNewswire/ — The 1,860-km-long Tanzania-Zambia Railway Authority (TAZARA) railway from Tanzania’s Dar es Salaam to New Kapiri Mposhi in Zambia serves as a reminder of the longstanding relationship between China and Tanzania.
Over its 48 years of operation, the railway has transported over 30 million tonnes of cargo and carried more than 40 million passengers, becoming a vital artery that ensures the economic operation and development of Tanzania, Zambia, and surrounding areas.
On Wednesday, leaders of the three countries jointly witnessed the signing of a memorandum of understanding on the revitalization project of the TAZARA railway, aiming to further improve the rail-sea intermodal transport network in East Africa.
In the new era, China has continued to bring new opportunities to African countries and remained committed to the overall direction of mutual trust, mutual benefit, mutual learning and mutual assistance in growing China–Africa relations.
Delivering a keynote speech at the opening ceremony of the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) on Thursday, Chinese President Xi Jinping hailed that China and Africa are getting stronger and more resilient together, delivering tangible benefits to Chinese and Africans, and setting a stellar example of a new type of international relations.
Xi announced that bilateral relations between China and all African countries having diplomatic ties with China are elevated to the level of strategic relations and that the overall characterization of China–Africa relations is elevated to an all-weather China–Africa community with a shared future for the new era.
Flourishing China–Africa cooperation
Since its establishment in 2000, the FOCAC has continuously promoted the leap-forward development of China–Africa relations, setting a prime example for South-South cooperation and international cooperation with Africa.
Over the past 24 years, China–Africa practical cooperation has yielded fruitful results, and exchanges in various fields have been unprecedentedly active.
China–Africa trade volume has increased from $10.5 billion in 2000 to $282.1 billion in 2023, an increase of nearly 26 times. As of the end of 2023, China’s direct investment stock in Africa had exceeded $40 billion.
Meanwhile, the two sides have cooperated to build and upgrade nearly 100,000 kilometers of roads, more than 10,000 kilometers of railways, nearly a thousand bridges and a hundred ports. Fifty-two African countries and the African Union Commission signed documents with China on the Belt and Road cooperation.
With the help of China, the building of several roads, bridges, and ports has promoted connectivity on the African continent. For instance, the Mombasa-Nairobi Standard Gauge Railway has significantly reduced transportation costs and travel times, fostering trade and commerce. The Addis Ababa-Djibouti Railway connects landlocked Ethiopia to the port of Djibouti, enabling greater access to international markets.
In a bid to deepen China–Africa cooperation and spearhead the Global South modernization, Xi said China stands ready to work with Africa to implement ten partnership action plans in the next three years, covering the areas of mutual learning among civilizations, trade prosperity, industrial chain cooperation, connectivity, development cooperation, health, agriculture and livelihood, cultural and people-to-people exchanges, green development, and common security.
China will expand market access for African agricultural products, push forward the pilot zone for in-depth China–Africa economic and trade cooperation, and carry out 30 infrastructure connectivity projects in Africa, he said.
He added that China will send 2,000 medical personnel to Africa, launch 20 programs on health facilities and malaria treatment, and send 500 agricultural experts to strengthen health and agricultural capacities in African countries.
A shared path toward modernization
In the new era, China and Africa are committed to building a closer community with a shared future and becoming fellow travelers in exploring the path to modernization.
China has assisted Africa in solving development problems such as lagging infrastructure, food shortages, and talent shortages while entering Africa has also brought opportunities for Chinese companies to expand their overseas markets.
For instance, in Tanzania’s coastal region, Chinese-invested Sapphire Float Glass Factory both serves the local market and exports float glass to six other African nations. Inaugurated in September 2023, the project was expected to generate up to 1,650 direct jobs and 6,000 indirect jobs upon reaching full production capacity. The factory has created 1,012 direct jobs for residents and 3,857 indirect jobs.
In the field of agriculture, China has established 24 agricultural technology demonstration centers in Africa over the past decade and introduced more than 300 advanced agricultural technologies, increasing local crop yields by an average of 30 to 60 percent and benefiting over a million farmers across the continent.
Currently, over 200 Chinese enterprises are continuing investments in Africa’s agricultural sector, with a cumulative investment stock exceeding $1 billion. These investments span various areas, including agricultural supplies and machinery, farming, processing and sales.
“On the path to modernization, no one, and no country, should be left behind,” Xi said at the opening ceremony of the 2024 FOCAC summit, calling for jointly advancing modernization that is just and equitable, is open and win-win, puts the people first, features diversity and inclusiveness, is eco-friendly and is underpinned by peace and security.
China and Africa’s joint pursuit of modernization will set off a wave of modernization in the Global South and open a new chapter in our drive for a community with a shared future for mankind, he said.
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Australian property developer and operator to utilise innovative cloud platform for construction and investment accounting
SYDNEY, Sept. 18, 2024 /PRNewswire/ — Apt.Residential, an owner, developer and operator of residential properties in Australia, has chosen Yardi’s single connected platform to support growth, connect teams and manage capex projects and build.
With Yardi®, Apt.Residential can manage its funds and simplify complex financial processes, mitigate risk and deliver real-time insights into projects. The platform provides more visibility from investor to asset and delivers enhanced and accurate reporting. The company can access live data for costing, expenses, and revenue on all projects, from ground-up development to single-unit improvements and will allow Apt.Residential to grow the volume of units within BTR once they have operational units.
“We wanted to find the best platform for BTR that would support growth, streamline management of capex projects and handle our complex accounting,” said Michael Hogg, co-founder & head of operations for Apt.Residential. “Yardi’s single integrated platform was the best solution as it ensures our team can connect on one system and not worry about integrations or using multiple platforms.”
“We’re excited to work with Apt.Residential and support its growth as the company expands its BTR projects,” said Neal Gemassmer, vice president and general manager for Yardi. “Our connected platform will help Apt.Residential enhance communication and set them up so they’re ready to operate once development has completed.”
See how Yardi’s end-to-end technology can help drive your digitalisation strategies.
About Apt.Residential
Apt.Residential is a leading vertically integrated owner, developer, and operator of residential properties in Australia backed by global institutional capital. The company develops residential communities where wellbeing and connectedness come first. Its human-centric approach allows Apt.Residential to shape places for people who crave comfort, community, and elevated living. For more information, please visit aptresidential.au.
About Yardi
Celebrating its 40-year anniversary in 2024, Yardi® develops industry-leading software for all types and sizes of real estate companies across the world. With over 9,500 employees, Yardi is working with our clients to drive significant innovation in the real estate industry. For more information on how Yardi is Energised for Tomorrow, visit yardi.com.au.
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Fintech PR
NewCo Capital Group Continues Global Expansion as 2024 Milestones Set The Stage for an Ambitious Q4
NEW YORK, Sept. 18, 2024 /PRNewswire/ — As Q4 fast approaches, NewCo Capital Group (“NewCo”) and Australia-based Bizcap are finalizing year-end initiatives to strategically position both companies for an ambitious expansion in 2025.
Both companies have celebrated a highly successful 2024, marked by remarkable and accelerated growth. This momentum has been driven by Bizcap’s unique Line of Credit product, NewCo’s introduction of their “Line of Capital” product and the launch of NewCo’s new mobile app. CEO Albert Gahfi emphasized the importance of closing 2024 on a high note to set the stage for future growth. “We’ve had an exceptional year so far, but our focus is on what comes next. We’re building the foundation for 2025 and beyond, ensuring that NewCo and Bizcap are positioned for continued global expansion.”
The plan for Q4 includes deepening their presence in existing markets while making calculated moves into new territories, including Singapore, Germany, and Luxembourg. “There are new opportunities in emerging markets that are currently underserved, where we believe we can make a significant impact. As a result, 2025 promises to be an exciting year for SMB financing globally.”
By reinforcing their operational and technological infrastructure, the companies are preparing to meet the demands of a rapidly evolving global financing landscape. “2024 has been a year of strong growth, but we’re not stopping here,” Gahfi said. “We are focused on delivering innovative financing solutions that not only meet the needs of today but also anticipate the demands of tomorrow. As we head into 2025, we’re ready to expand our reach and provide even more businesses with the capital they need.”
Part of a multinational collaboration, NewCo and Bizcap have successfully deployed over $1.5 billion to over 35,000 businesses worldwide. Gahfi commented, “We’re moving capital faster and more effectively than any other sector and our clients are benefiting from that growth.”
NewCo’s strength lies in its ability to adapt quickly, using a unique mix of proprietary technology, nuanced underwriting, and an experienced risk management team. The companies’ hybrid approach is challenging outdated financing models, making NewCo a preferred partner for SMBs looking for custom capital solutions that truly fit their needs.
“We’re not just growing; we’re leading,” Gahfi added. “As we expand globally, our goal remains the same—helping small businesses scale, create jobs, and thrive.”
With a clear strategy and a relentless focus on delivering value, NewCo Capital Group is primed to deepen its market influence and capitalize on emerging opportunities. As the company prepares for its next wave of market entries, Q4 will serve as a pivotal launchpad for an even more ambitious 2025, setting the stage for continued growth and global leadership.
For more information, visit www.NewCoCapitalGroup.com.
Contact:
NewCo Capital Group
Email: [email protected]
Website: www.NewCoCapitalGroup.com
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Fintech PR
Zulu Ecosystems and Severn Trent Water secure Innovate UK funding to pioneer catchment-scale Nature-based Solutions
- Partnership aims to develop innovative funding model for nature-based solutions that enhance water resilience in the Idle and Torne catchment, a priority area for environmental improvement
- Project will aggregate supply and demand for ecosystem services across the 1,200km2 catchment, benefiting both nature and local communities
- Led by Zulu Ecosystems, the collaboration seeks to accelerate private investment in nature recovery while addressing critical water challenges
LONDON, Sept. 18, 2024 /PRNewswire/ — Zulu Ecosystems and Severn Trent Water have been awarded funding from Innovate UK, the UK’s innovation agency, for a £580,000 project to develop a groundbreaking catchment system operator model for unlocking private investment in nature. The project aims to enhance water resilience and deliver multiple benefits for both nature and local communities in the Idle and Torne River catchment.
The Idle and Torne catchment, identified as a priority catchment by the Environment Agency, faces significant challenges including drought risk, flood vulnerability, and water quality issues. Approximately 60% of water bodies in the catchment currently fail to meet good ecological status. However, the area also presents substantial opportunities for nature recovery, with potential to restore over 5,000 hectares of priority habitats and significantly improve water resources management.
This innovative partnership will leverage Zulu Ecosystems’ cutting-edge natural capital assessment capabilities and Severn Trent Water’s expertise in water management to create a scalable approach for funding and delivering nature-based solutions. The project will focus on interventions such as woodland creation, wetland restoration, and riparian woodland to address the catchment’s pressing environmental challenges. The project will engage local stakeholders, including farmers, landowners, and community groups, to ensure that interventions reflect local needs and knowledge.
Ed Asseily, CEO of Zulu Ecosystems, said:
“This funding from Innovate UK is a game-changer for how we approach local nature recovery and water resilience. By developing a catchment-scale model that aggregates both the supply of and demand for ecosystem services, we can accelerate the flow of private capital into nature-based solutions.”
Severn Trent Water will play a key role as the project’s System Operator, strategically coordinating plans and aligning stakeholder priorities to maximise outcomes for water services and the environment.
Richard Smith, Strategic Asset Planning Manager at Severn Trent Water, commented:
“We’re excited to partner with Zulu Ecosystems on this transformative project. By adopting a system operator approach, we can ensure that investments in nature-based solutions deliver the greatest possible benefits for our customers, local communities, and the environment.”
This project has been funded by Innovate UK as part of the ‘Integrating Finance and Biodiversity for a Nature Positive Future’ programme, a joint initiative between the Natural Environment Research Council (NERC) and Innovate UK. This £7 million programme aims to develop solutions that embed the values of biodiversity into financial decision-making.
By bridging the gap between nature recovery and water resilience, this project has the potential to create a replicable model for sustainable landscape management across the UK. Innovate UK’s support underscores the national significance of developing new approaches to environmental management that can deliver multiple benefits, including improved water security, enhanced biodiversity, climate resilience, and potential new income streams for landowners.
Over the next 9 months, the project team will work closely with local stakeholders to identify priority interventions and develop a portfolio of investable nature-based solutions. The project aims to demonstrate how multi-stakeholder nature-based projects can be developed, funded, and delivered at catchment-scale to address climate adaptation and reverse biodiversity loss. Findings will be published to help scale similar initiatives across the UK and beyond.
For more information, please contact:
[email protected]
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/zulu-ecosystems-and-severn-trent-water-secure-innovate-uk-funding-to-pioneer-catchment-scale-nature-based-solutions-302252188.html
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