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GEAPP Leadership Council Backs Transformational Plan to Electrify Africa
- Global leaders align support for the World Bank Group (WBG) and the African Development Bank (AfDB) ambition to connect 300 million people in Africa to electricity by 2030.
- Bank Presidents share their vision for the initiative, Mission 300, that will connect close to half of the world’s un-electrified population.
- Prime Minister of Tanzania announced the African Energy Summit in Dar es Salaam, where African Heads of State, development partners, and private sector leaders will convene in January 2025.
NEW YORK, Sept. 24, 2024 /PRNewswire/ — At the 79th United Nations General Assembly and New York Climate Week, the Global Energy Alliance for People and Planet Leadership Council (GLC) convened three dozen leaders from government, development finance, the private sector, and philanthropy, to garner support and commit resources to accelerate Mission 300, a broad partnership led by the World Bank Group (WBG) and African Development Bank (AfDB) to connect 300 million people in Africa to electricity by 2030. During the convening, AfDB President, Dr. Akinwumi Adesina, and WBG President, Ajay Banga, addressed world leaders for the first time since they launched the initiative in April during the World Bank Spring Meetings.
GLC Co-chairs, Jonas Gahr Støre, Prime Minister of the Kingdom of Norway, and Rajiv Shah, President of The Rockefeller Foundation, called on members to mobilize support and shared new commitments of their own. The Government of Norway endorsed Mission 300, and committed to supporting the acceleration of investment in renewable energy, including through a new state guarantee mechanism, existing collaboration with the World Bank and the African Development Bank and by advocating for a robust IDA21 replenishment. Meanwhile, The Rockefeller Foundation, GEAPP, and SEforALL, announced an initial $10 million Technical Assistance Facility to support Mission 300 and kickstart an initial 15 projects in 11 countries.
This year’s annual in-person GLC convening was dedicated to advancing energy access in Africa, where more than half of the population live without electricity. Additional GLC members agreed to align efforts and resources, including, British International Investment, the UK’s development finance institution; Agence Française de Développement (AFD); the International Renewable Energy Agency (IRENA); Power Africa, a US-Government led partnership; and the United Nations Development Programme (UNDP), and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, among others.
“Development is about dignity and there is no dignity without electricity. Economies cannot grow in the dark,” Dr. Akinwumi Adesina, President of the African Development Bank said during the convening. “Energy is fundamental to Africa’s development. For us to achieve the ambition of Mission 300, we need to work together. I cannot think of better partners than the World Bank and all the members of the GEAPP Leadership Council to do this with.”
“The foundation of all growth is energy. Working together with the African Development Bank and GLC members, Mission 300 offers a new approach to financing and partnership,” said Ajay Banga, President of the World Bank. “I am encouraged by the momentum from today’s convening, which is critical to bringing together concessional capital, on-the-ground expertise, and the ability to plan and execute projects with urgency to drive impact.”
African leaders addressed the GLC, sharing the urgency and criticality of advancing energy access. They spoke to the insufficient speed and scale of the energy transition across the continent, welcoming Mission 300 as a platform to prioritize, innovate, and accelerate.
“Energy is the lifeblood of every civilization. We cannot advance our development agenda in Liberia without electricity,” said H.E. Joseph Boakai, President of Liberia. “I want to express our gratitude to the World Bank, African Development Bank, the Global Energy Alliance for People and Planet, and Alliance partners; this initiative gives me hope, and Liberia promises to take any opportunity we have through this initiative to put it to the best use for the interest of our people.”
“Nearly 600 million people, more than half of Africa’s population, lack energy access, hindering the continent’s economic growth. This is unacceptable,” said H.E. Kassim Majaliwa, Prime Minister of the United Republic of Tanzania. “Stronger coalitions among countries, development partners, and the private sector are crucial to closing the electrification gap. We commend the World Bank and African Development Bank for their bold commitment and GEAPP’s Alliance partners for their unwavering support to provide electricity to 300 million people by 2030, a step that could transform Africa’s future.”
With this goal in mind, the Prime Minister on behalf of Her Excellency Dr. Samia Suluhu Hassan, President of the United Republic of Tanzania, announced that the African Union, African Development Bank Group, and the World Bank Group, in partnership with the Government of the United Republic of Tanzania, will host a summit in Dar es Salaam to build high-level political momentum for Mission 300 in January of 2025.
GLC Co-Chair, Jonas Gahr Støre, Prime Minister of the Kingdom of Norway, reiterated the GLC’s commitment to backing Mission 300 saying, “The green transition is happening now. It is about giving all countries the same opportunities, creating jobs and cutting emissions. To give 300 million people access to electricity by 2030 is the kind of ambition we need. And we can achieve it, if we work smarter and better together.”
Speaking to the work of the Alliance, GLC Co-Chair, Raj Shah, President of The Rockefeller Foundation said: “In the past 24 months, GEAPP and its more than 50 partners have developed 130 projects across 40 countries, improving electricity access for over 50 million people, reducing 43 megatons of carbon emissions, and enhancing the livelihoods of over 2 million people. Yet, much more remains to be done. By supporting the Banks’ goal to empower 300 million Africans by 2030, we can drive the most impactful development initiative of our generation.”
The GLC’s commitment to Mission 300 builds on its ongoing efforts to support emerging economies’ energy and climate solutions, including the Battery Energy Storage Consortium, which launched with 16 first-mover countries and over 19 technical and resource partners at COP28 in 2023. The Consortium is already accelerating deployment of battery storage in India, Malawi, Vietnam, and Barbados through projects totaling over 200 megawatts.
“Mauritania is committed to tackling one of Africa’s greatest challenges—access to affordable, reliable electricity. With over 600 million people across the continent still without power, we fully support the initiative led by the World Bank and AfDB as an extension of Desert-to-Power to provide electricity to 300 million people by 2030,” noted H.E. Mohamed Khaled, Minister of Energy and Petroleum of Mauritania. “In Mauritania, we are driving progress through innovative projects like the BESS Consortium, BEST and RIMDIR program, which will increase national electricity access to 70%. With nearly half of our energy already coming from renewables and groundbreaking hydrogen projects underway, Mauritania is leading the way toward a sustainable, reliable and inclusive energy future.”
“This is a race against time—we face either a future of escalating crises or one of transformational opportunity,” said Woochong Um, CEO of GEAPP. “GEAPP is bringing the power of our Alliance, including governments, businesses, and philanthropy to join and accelerate progress together to ensure universal access to reliable, renewable, affordable power. Initiatives like Mission 300 are not just smart—they are essential for building a sustainable future where everyone can prosper. Today, the GEAPP Leadership Council is proving that acting at scale and speed is possible. By changing energy, we change lives.”
About Global Energy Alliance for People and Planet (GEAPP)
The Global Energy Alliance for People and Planet (GEAPP) is an alliance of philanthropy, governments, technology, policy, and financing partners. Our common mission is to enable emerging and developed economies to shift to a clean energy, pro-growth model that accelerates universal energy access and inclusive economic growth while supporting the global community to meet critical climate goals during the next decade. As an Alliance, we aim to reduce 4 gigatons of future carbon emissions, expand clean energy access to one billion people, and enable 150 million new jobs. With philanthropic partners the IKEA Foundation, The Rockefeller Foundation and Bezos Earth Fund, GEAPP works to build the enabling environment, capacity, and market conditions for private sector solutions, catalyze new business models through innovation and entrepreneurship, and deploy high-risk capital to encourage private sector solutions and assist just transition solutions. For more information, please visit www.energyalliance.org and follow us on Twitter at @EnergyAlliance.
Contact: Eric Gay, Global Energy Alliance for People and Planet (GEAPP), [email protected]
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BETHESDA, Md., Jan. 10, 2025 /PRNewswire/ — SAR, a data analytics company specialized in the securities litigation risk of U.S. public companies, today published the Securities Class Action Rule 10b-5 Exposure Report for 4Q 2024. According to the report, securities litigation exposure of public company defendants that trade in the NYSE and NASDAQ peaked during the fourth quarter of 2024, when records were set across the buoyant U.S. equity markets. During the bullish market conditions of 2024, shareholders claimed approx. $665.2 billion in market capitalization losses due to alleged violations of Rule 10b-5 – the most in the last five years.
According to the report, global quarterly Rule 10b-5 securities litigation exposure in 2024 was 17% greater than the average of 2023. Actual monetary settlements with investor plaintiffs last year were, on average, 23% greater than during the last six years.
SAR data and analysis indicate that the litigation exposure of U.S. public company defendants amounts to approximately $380.3 billion in 2H 2024. Shareholders claimed approximately $4.0 billion in market capitalization losses per securities class action filing, and approximately $2.0 billion per allegedly fraud-related stock drop in 2H 2024. The former metric increased by 32.1%, and the latter by 15.4% during the second half of 2024.
“Our data and analyses indicate that securities litigation exposure against U.S. public companies peaked in the fourth quarter of last year. This peak may be short-lived with an expected increase in volatility and new headwinds for U.S. equities given greater shareholder scrutiny of corporate disclosures. With average Rule 10b-5 settlements over 20% greater in 2024 than during the last six years, litigation activity is expected to increase in 2025,” said Anthony Kabanek, EVP of SAR.
According to the report, in 2023 and 2024 investor plaintiffs claimed $13.6 billion and $20.5 billion, respectively, in private Rule 10b-5 securities-fraud class actions that relied on short-seller research.
Key takeaways:
- 86 U.S. issuers were sued for alleged violations of Rule 10b-5 during 2H 2024. Based on allegations presented in the first-filed class action complaint against each defendant issuer, U.S. SCA Rule 10b-5 Exposure amounts to $259.4 billion. U.S. SCA Rule 10b-5 Exposure decreased -5.4% relative to 1H 2024.
- U.S. SCA Rule 10b-5 Exposure peaked in the 2nd and 3rd quarters, followed by a decline to trend in the 4th quarter of 2024.
- 9 Non-U.S. issuers were sued for alleged violations of Rule 10b-5 during 2H 2024. Based on allegations presented in the first-filed class action complaint against each defendant issuer, ADR SCA Rule 10b-5 Exposure amounts to $120.9 billion. ADR SCA Rule 10b-5 Exposure increased by 11.3x relative to 1H 2024.
- An anomalously high 4th quarter exposure among Non-U.S. issuers contributed to a remarkably volatile year for ADR SCA Rule 10b-5 Exposure.
- Rule 10b-5 private securities-fraud filing frequency and potential loss severity need not move in tandem. Global exposure increased by approximately 34% in the 2H 2024 relative to 1H 2024, while filing frequency remained relatively stable.
- 38 U.S. Large Caps were sued for alleged violations of Rule 10b-5 in 2H 2024, the same observed frequency as 1H 2024. The U.S. Large Cap SCA Rule 10b-5 Exposure amounts to $233.7 billion, a decrease of 10.1% relative to 1H 2024.
- 22 U.S. Mid Caps were sued for alleged violations of Rule 10b-5 In 2H 2024. The U.S. Mid Cap SCA Rule 10b-5 Exposure amounts to $19.8 billion, more than 3 times the amount in 1H 2024.
- 26 U.S. Small Caps were sued for alleged violations of Rule 10b-5. The U.S. Small Cap SCA Rule 10b-5 Exposure amounts to $5.9 billion, a decrease of 33% relative to 1H 2024.
- 9 Non-U.S. issuers that trade via ADRs in the U.S. public markets were sued for alleged violations of Rule 10b-5. The ADR SCA Rule 10b-5 Exposure increased by over 11.3x to ~$121 billion, relative to 1H 2024.
Media contact: [email protected]
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STOCKHOLM, Jan. 10, 2025 /PRNewswire/ — Swedish Orphan Biovitrum AB (publ) (Sobi®) (STO:SOBI) announces today that revenue for the full year 2024 was higher than previous estimate. Full-year revenue was approximately SEK 26,000 M, representing approximately 19% growth at constant exchange rate (CER) (1). Adjusted EBITA margin (1,2) was in the mid-30s per cent of revenues.
The main reasons for the increased revenue are higher sales than expected in Q4 across the Haemophilia portfolio and for Kineret.
- Altuvoct: Higher than expected rate of new patients switching to Altuvoct in markets where the product has been launched, mainly Germany and Switzerland.
- Elocta: Benefited from higher patient numbers across markets and in markets where Altuvoct is launched there were less switches than expected from Elocta. Favorable gross-to-net effects were also observed.
- Alprolix: Higher than expected number of new patients as well as increase in on-demand treatments across Europe.
- Kineret: Higher than expected sales driven mainly by positive gross-to-net adjustments and favorable order phasing but also supported by increased demand.
- The adjusted EBITA margin remained in the expected range as the stronger revenue performance was offset by negative mix effects on the gross margin as well as investments into our launch and pipeline products in the fourth quarter.
At the publication of the Q3 2024 report on 24 October 2024 Sobi stated the outlook for the full year 2024 to be: Revenue was anticipated to grow by a mid-teens percentage at CER and adjusted EBITA margin was anticipated to be in the mid-30s per cent of revenue.
Sobi will announce its fourth quarter and full year 2024 report on Wednesday 5 February 2025 at 8:00 am CET.
About Sobi
Sobi® is a specialised international biopharmaceutical company transforming the lives of people with rare and debilitating diseases. Providing reliable access to innovative medicines in the areas of haematology, immunology, and specialty care, Sobi has approximately 1,800 employees across Europe, North America, the Middle East, Asia, and Australia. In 2023, revenue amounted to SEK 22.1 billion. Sobi’s share (STO:SOBI) is listed on Nasdaq Stockholm. More about Sobi at sobi.com and LinkedIn.
Contacts
For details on how to contact the Sobi Investor Relations Team, please click here. For Sobi Media contacts, click here.
This information is information that Sobi is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 18:00 CET on 10 January 2025.
Gerard Tobin
Head of Investor Relations
[1] Alternative Performance Measures (APMs).
[2] Excluding items affecting comparability (IAC).
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Fintech PR
Knowledge Graph Market worth $6,938.4 million by 2030 – Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Jan. 10, 2025 /PRNewswire/ — The Knowledge Graph Market is expected to reach USD 6,938.4 million by 2030 from USD 1,068.4 million in 2024, at a Compound Annual Growth Rate (CAGR) of 36.6% from 2024–2030, according to new research report by MarketsandMarkets™.
The knowledge graphs ensure enterprise knowledge management through the rebuilding of complex data with interconnected nodes and relationships by providing a simpler way to navigate and retrieve information. It helps businesses build a fully comprehensive knowledge graph uniting disparate data sources, enables complex semantic search, context-aware recommendations, and data discovery. Knowledge graphs support better decision-making, foster innovation, and improve cooperation across teams by mapping relationships between organizational knowledge. They are particularly useful for large organizations, which depend on accessing and utilizing vast amounts of structured and unstructured data to be productive and competitive.
Browse in-depth TOC on “Knowledge Graph Market “
344 – Tables
51 – Figures
359 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=217920811
Scope of the Report
|
Report Metrics |
Details |
|
Market size available for years |
2019–2030 |
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Base year considered |
2024 |
|
Forecast period |
2024–2030 |
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Forecast units |
Value (USD Million) |
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Segments Covered |
(solutions (enterprise knowledge graph platform, graph database engine, knowledge management toolset) services ( professional services, managed services) by model type (Resource Description Framework (RDF) Triple Stores, Labeled Property Graph (LPG)) by applications (data governance and master data management, data analytics and business intelligence, knowledge and content management , virtual assistants, self-service data and digital asset discovery, product and configuration management, infrastructure and asset management, process optimization and resource management, risk management, compliance, regulatory reporting, market and customer intelligence, sales optimization, other applications) by vertical (Banking, Financial Services, and Insurance (BFSI), retail and eCommerce, healthcare, life sciences, and pharmaceuticals telecom and technology, government, manufacturing and automotive, media & entertainment, energy, utilities and infrastructure, travel and hospitality, transportation and logistics, other vertical) |
|
Region covered |
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
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Companies covered |
IBM Corporation (US), Oracle (US), Microsoft Corporation (US), AWS (US), Neo4j (US), Progress Software (US), TigerGraph (US), Stardog (US), Franz Inc (US), Ontotext (Bulgaria), Openlink Software (US), Graphwise (US), Altair (US), Bitnine ( South Korea) ArangoDB (US), Fluree (US), Memgraph (UK), GraphBase (Australia), Metaphacts (Germany), Relational AI (US), Wisecube (US), Smabbler (Poland), Onlim (Austria), Graphaware (UK), Diffbot (US), Eccenca (Germany), Conversight (US), , Semantic Web Company (Austria), ESRI (US) |
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By vertical, the BFSI segment to hold the largest market size during the forecast period.
The knowledge graphs serve as a strong foundation for relating customer data, transactions history, credit scores, and risk profiles within the BFSI (Banking, Financial Services, and Insurance) sector, allowing the exact relationship mapping and insights. These are also employed in fraud detection through real-time identification of hidden patterns and for regulatory compliance with standards such as AML (Anti Money Laundering) and KYC (know Your Customer), where data can be traced and is transparent. In banking, knowledge graphs facilitate credit risk analysis which makes the process of loan approval more efficient, in insurance by linking policies, claims data, and fraud indicators thus optimizing claims processing. All these will, when combined with other data points, produce AI-powered applications: personalized advice-based solutions on finances and intelligent virtual assistants, which will create operational efficiency and improved customer experience in BFSI.
Virtual assistants, self-service data, and digital asset discovery segment to have the highest growth during the forecast period.
Knowledge graphs are essential for building virtual assistants, self-service data platforms, and even digital asset discovery, for they build interconnected data networks that help in enhancing the searchability and insights. Virtual assistants use knowledge graphs to provide context-sensitive responses that improve user interactions and provide tailored recommendations. Self-service data platforms use knowledge graphs to allow business users to access and analyze complex datasets without technical help, which helps them to make better decisions. They make the identification and classification of digital resources, such as documents or media, easier through linking metadata and content relationships for the discovery of digital assets. This capability enables effective resource management, innovation, and improvement in user experience in areas such as content creation, research, and enterprise workflows.
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Asia Pacific is expected to witness the highest market growth rate during the forecast period.
The knowledge graph landscape is rapidly evolving in Asia Pacific, with initiatives across various domains. In December 2022, the National Library Board (NLB), Singapore, launched a Linked Data-based Semantic Knowledge Graph to merge resources from libraries and archives using BIBFRAME and Schema.org vocabularies for seamless updating and improved data quality. HydroKG in Australia merges hydrologic data from resources such as GeoFabric and HydroATLAS that allow for pinpoint queries on water bodies and river networks, enabling better environmental management. Japan uses knowledge graphs in manufacturing for supply chain optimization and South Korea uses it in telecommunications to enhance the customer experience through personalized AI.
Top Key Companies in Knowledge Graph Market
The major vendors covered in the Knowledge graph market are IBM Corporation (US), Oracle (US), Microsoft Corporation (US), AWS (US), Neo4j (US), Progress Software (US), TigerGraph (US), Stardog (US), Franz Inc (US), Ontotext (Bulgaria), Openlink Software (US), Graphwise (US), Altair (US), Bitnine ( South Korea) ArangoDB (US), Fluree (US), Memgraph UK), GraphBase (Australia), Metaphacts (Germany), Relational AI (US), Wisecube (US), Smabbler (Poland), Onlim (Austria), Graphaware (UK), Diffbot (US), Eccenca (Germany), Conversight (US), Semantic Web Company (Austria), ESRI (US), Datavid (UK), and SAP (Germany). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the Knowledge graph market.
Browse Adjacent Markets: Information and Communications Technology Market Research Reports & Consulting
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
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