
South Africa Moves Closer to Exiting Dirty-Money List in October
The Financial Action Task Force has already determined that South African authorities had met 'all or almost all of the actions' required to leave the list and the visiting team will evaluate that 'implementation is there, but also that it's sustainable,' FATF President Elisa de Anda Madrazo said Thursday.
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Nigeria's Aliko Dangote Retires as Chairman of Dangote Cement
Aliko Dangote has retired as chairman and director of Nigeria's Dangote Cement Plc, the company he founded, according to a statement. He will be replaced effective immediately by Emmanuel Ikazoboh, the company statement said, while Mariya Aliko Dangote was appointed to the board.
Yahoo
2 hours ago
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SOUEAST Unveils New Chapter in Egypt, Strengthening African Market Presence
CAIRO, July 26, 2025 (GLOBE NEWSWIRE) -- SOUEAST launched four new models in Egypt, marking a significant expansion in the African market. The event, themed "Ease Your Life", was held at Cairo's iconic landmark – Alamain Boulevard North Square, showcasing the brand's commitment to elevating users' automotive consumption experience with innovative concepts. (Image 1: SOUEAST Launched in Egypt) SOUEAST: Reborn in 2024, expanding globally with urban-focused vehicles. With a presence in over 30 countries and regions, the automaker has established more than 144 sales and service networks worldwide. SOUEAST targets the urban premium market with its "6+2+1" product matrix: 6 urban SUVs; 2 urban sedans; 1 lifestyle pickup truck. Covering segments from B to D-class, the lineup includes both fuel and hybrid powertrains, with pure electric models planned for the future. This diversified portfolio ensures tailored solutions for diverse markets and customer needs. The launch featured four new models: The flagship smart luxury SUV S09, urban intelligent C-segment SUV S07, urban stylish C-segment SUV S06 and compact urban SUV S05, covering almost all segments of the SUV market. These vehicles are designed to meet the diverse needs of drivers, offering a blend of style, comfort, and advanced technology. The S09, with its luxurious features and robust performance, is tailored for those seeking a premium driving experience. The S07 and S06, on the other hand, cater to the urban youth with their intelligent features and stylish designs. The S05, with its compact and agile body, is ideal for city commuters, providing versatile mobility for both urban roads and narrow alleys. At the launch event, Andy Yuan, Assistant President of SOUEAST International, stated: "SOUEAST's vision is enabling more youth around the world to have an EASE urban mobility experience." He further emphasized SOUEAST Motor's strong confidence in the Egyptian market. According to the plan, SOUEAST and its partner will engage in comprehensive collaboration across market operations, customer service, branding, and channel development to deliver an integrated user experience. By 2025, SOUEAST aims to establish 15 sales outlets and 5 after-sales service centers in Egypt. Additionally, two new CKD models will be introduced between 2026 and 2027. SOUEAST has recently entered North African markets, including Morocco and Libya. Its latest launch in Egypt marks a major breakthrough in the brand's strategic expansion across Africa. With this continued market growth, SOUEAST is poised to open a new chapter in its global development. A photo accompanying this announcement is available at CONTACT: Contact Person: Frida Fu Email:
Yahoo
5 hours ago
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Santam gets in principle nod for Lloyd's syndicate
South African general insurer Santam has secured in principle approval from Lloyd's to set up a syndicate in London. The planned syndicate, which will carry the name Santam Syndicate 1918, signifies the year the insurer was established. The business operations are due to begin from 1 January 2026. Santam expects its gross written premium in the London market to be between £300m ($403.94m) and £400m for 2026. The initiative is pending final approval and "permission to underwrite" in the fourth quarter of 2025, while awaiting regulatory clearances in South Africa. Santam Group CEO Tavaziva Madzinga said: 'The establishment of our own London market insurance operation gives our business a solid foundation for continued international growth and diversification. It becomes an important lever in achieving our 2030 FutureFit strategic ambition. 'This is a transformational step for Santam in our 107-year history. We are very excited about our partnership with Lloyd's and the expansion opportunities into new territories and classes that the new syndicate will offer.' Santam's portfolio encompasses products including agricultural, car, engineering, guest house, liability, property, reinsurance and tourism. Lloyd's chief commercial officer and Americas CEO Dawn Miller stated: 'The African continent is undergoing significant development and represents a huge opportunity for our industry to facilitate economic progress, impact and resilience. 'We look forward to welcoming Santam as the leading property and casualty insurer in Africa as they utilise Lloyd's as a platform for international expansion by unlocking its global licences and excellent financial strength.' Lloyd's, a global insurance and reinsurance market, allows members to operate syndicates that underwrite insurance risks. Recently, credit insurer Atradius also secured in principle authorisation from Lloyd's to set up a new syndicate from 1 January 2026. "Santam gets in principle nod for Lloyd's syndicate " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data