Latest news with #sustainablegrowth


Zawya
2 days ago
- Business
- Zawya
Rwanda: Nick Barigye's ‘homecoming' at Crystal Ventures as CEO
Rwanda's state-owned investment firm Crystal Ventures Ltd (CVL) has appointed Nick Barigye as its new group chief executive officer. He replaces Jack Kayonga, who has been at the helm of Rwanda's biggest private company since 2020. In the appointment notice, CVL board described Barigye as a seasoned leader with vast experience across multiple sectors and a proven track record in operational excellence, innovation and sustainable growth. Barigye joins CVL from government-owned Kigali International Financial Centre (KIFC), where he served as CEO for over five years. During his tenure, he is credited with positioning Rwanda as a financial hub and achieving notable success in global visibility, investor confidence and institutional partnerships.'We're especially proud to welcome him back as an alumnus of CVL,' the company stated. 'With his global and local insights, we are confident that under his leadership, CVL will continue to thrive and advance its strategic goals.'Barigye has previously held various roles at CVL and its subsidiaries. Private sector growthCVL was established in 1995 and operates as an investment firm run by the Rwandan Patriotic Front, the ruling party of Rwanda. It was initially known as Tri-Star Investments before changing its name in a rebranding move. CVL's interests include engineering and construction, fast-moving consumer goods and security services. Kayonga, who took over as CEO in March 2020, is credited with steering the company through a period of pandemic-related uncertainty while consolidating its position as a key player in Rwanda's private sector growth. CVL has been at the centre of the Rwanda's recovery and economic development, investing in key strategic sectors such as infrastructure, energy, telecommunication, fast-moving consumer goods, construction, among others. The CVL portfolio includes leading firms such as the dairy and beverage company Inyange Industries, NPD Contraco, Isco, and East African Granite. By 2017, CVL had grown to become the second-largest employer in the country, with an estimated investment portfolio of $500 million. The company says the leadership transition is part of a broader strategy to sustain long-term growth and reinforce Rwanda's competitive edge in regional and global markets. CVL has extended its investment tentacles to countries such as the Central African Republic and Mozambique, where Rwandan military support has helped to quell terrorist insurgents threatening these governments. Following Rwanda's military intervention in Cabo Delgado province in 2021 to secure $20 billion Mozambique LNG project owned by TotalEnergies, CVL's civil engineering subsidiary NPD Contraco Ltd secured contracts related to the liquefied natural gas project. The firm is specifically involved in clearing and structural work for TotalEnergies' gas project on the Afungi Peninsula. Macefield Ventures, a CVL subsidiary that focusses on overseas mining and electrification, has also established mining investments in Mozambique. Macefield is also implementing an electrification project in Zimbabwe. Barigye's appointment comes at a time when CVL is expanding its portfolio in infrastructure, agriculture, real estate and technology investments across Rwanda and the region. Although data on its investments is limited, it is estimated that CVL's total investments now stand at $1.8 billion, and its portfolio is expected to continue expanding as it increases its investments in other African countries. © Copyright 2022 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (

Zawya
3 days ago
- Business
- Zawya
Mauritius: African Development Bank Urges Bold Reforms to Unlock Capital and Accelerate Sustainable Growth in 2025 Report
The African Development Bank ( has urged Mauritius to accelerate structural reforms to unlock its vast capital potential and advance long-term, sustainable growth. The Bank made the call during the launch of its 2025 Country Focus Report for Mauritius, titled ' Making Mauritius' Capital Work Better for its Development.' The report notes that while Mauritius continues to post strong economic performance—recording real GDP growth of 4.9% in 2024, slightly down from 5% in 2023—structural constraints and external shocks continue to undermine the country's growth trajectory. Key growth drivers in 2024 included construction, financial services, trade, and tourism, with arrivals reaching 1.38 million, representing 97% of pre-pandemic levels. On the demand side, consumption and investment were the primary drivers of growth. Despite the persistent challenges, the report underscores Mauritius' significant untapped potential. In 2020, the island nation's total national wealth was estimated at over $96 billion—more than six times its GDP—comprising human, financial, natural, and produced capital. In addition, Mauritius' vast ocean economy resources, within its 2.3 million km² Exclusive Economic Zone, offer immense opportunities for developing a sustainable blue economy. Speaking at the launch event, Mahess Rawoteea, Deputy Financial Secretary at the Ministry of Finance, welcomed the recommendations in the report. 'We are confident that the structural reforms outlined in the 2025–2026 Budget Speech will unlock significant investments, particularly in renewable energy, and contribute to higher GDP growth,' he said. Rawoteea emphasized the central role of human capital in Mauritius' development, while acknowledging persistent challenges such as education quality, skills mismatches, low female labor participation, demographic shifts, and youth emigration. He announced the establishment of a Climate Finance Unit within the Ministry of Finance to help bridge the country's climate financing gap. 'Mauritius is undertaking institutional reforms to better mobilize domestic and foreign capital and promote sustainable development,' he added. 'We are streamlining processes, enhancing transparency, and improving the ease of doing business. Environmental protection, including addressing beach erosion, is also a key priority.' Rawoteea expressed appreciation for the African Development Bank's support, particularly in mobilizing investments in renewable energy and the ocean economy—two sectors identified as future growth pillars. In his keynote remarks, Prof. Kevin Urama, the Bank Group's Chief Economist and Vice President for Economic Governance and Knowledge Management, emphasized Africa's broader potential for transformation. 'If Africa commits to investing in its own development and managing its assets efficiently, it can reduce external dependency and harness its enormous capital for transformative growth,' he said. Urama cited weak tax administration and inefficiencies in revenue collection as major constraints to development, urging a fundamental rethink of public financial management across the continent. Wolassa Kumo, the Bank's Principal Country Economist for Mauritius presented an overview of the report. The launch event attracted senior government officials, development partners, private sector leaders, and civil society representatives. Among those in attendance were Hervé Lohoues, the Bank's Division Manager for the Country Economics Department covering Nigeria, East Africa and Southern Africa, and Nontle Kabanyane, the Bank's Principal Country Programme Officer, who moderated a panel discussion. The panel explored strategies for mobilizing domestic capital more effectively by strengthening institutions, improving regulatory frameworks, increasing transparency and accountability, and deepening regional trade integration. Panelists included: Dr. Zyaad Boodoo, Ministry of Environment, Solid Waste Management and Climate Change (natural capital), Mauritius? Mr. Sanjev Bhonoo, Principal Statistician, Statistics Mauritius (natural capital) Mr. Ricaud M. Auckbur, Chief Technical Officer, Ministry of Education and Human Resources (human capital), Mauritius? Ms. Zaahira Ebramjee, Head of National Economic Collaboration, Business Mauritius (business capital) Mr. Vikram Ramful, Head of Listing, Stock Exchange of Mauritius (financial capital) Click here ( to download the report. Distributed by APO Group on behalf of African Development Bank Group (AfDB). About the African Development Bank Group: The African Development Bank Group is Africa's leading development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). Represented in 41 African countries, with an external office in Japan, the Bank contributes to the economic development and social progress of its 54 regional member countries. For more information:


Zawya
3 days ago
- Business
- Zawya
South Africa: Reside Summit 2025 calls for bold investment in alternative residential sectors
Leading voices in real estate, policy and investment issued a strong call for capital to be directed into alternative residential sectors to drive sustainable growth and inclusivity in South Africa's urban landscape. The second day of the Reside Summit 2025 at the Sandton Convention Centre in Johannesburg was marked by a call for established financiers and institutional investors to allocate funding towards real estate developments focusing on multifamily rental housing, retirement living and student accommodation. Demographic shifts and economic pressures are driving demand for affordable homes, purpose-built student accommodation and dignified retirement living. Speakers at the Reside Summit 2025 emphasised that these sectors offer both social impact and steady returns for investors willing to look beyond traditional real estate classes. 'If we want cities that work for everyone, we need capital that moves with purpose. Alternative residential sectors like student housing and retirement living, aren't fringe - they're foundational to inclusive urban growth. We thank all our partners for showing up with bold ideas and real commitment. Together, by reshaping spaces, we're reshaping futures,' says Debbie Tagg, chairperson of the Reside Summit. The Development Bank of Southern Africa (DBSA) is one of the major financiers that believes in investing in alternative real estate markets – particularly when these investments align with its core mandate of addressing South Africa's most pressing social and developmental needs. Palesa Ryan, the DBSA's head for Social, Health, and Education Palesa Ryan, the DBSA's head for Social, Health, and Education, reaffirmed the DBSA's commitment to supporting real estate developments, particularly those that address the country's most urgent housing needs. 'The DBSA stands ready to finance real estate developments across South Africa, but our mandate is clear: our primary focus is on affordable housing. We believe that by channelling capital into this sector, we can drive both social and economic transformation,' said Ryan during her presentation at the Reside Summit on 10 July. She emphasised that the DBSA is actively seeking partnerships with developers, municipalities and other financiers to unlock new affordable housing projects. Ryan added: 'Affordable housing is not just a social imperative – it's a resilient asset class that can deliver stable, long-term returns. We are eager to work with stakeholders who share our vision for inclusive, sustainable urban growth.' Retirement living: Integrating health, wealth and dignity Under the theme Transforming Spaces, Enriching Lives, this year's Reside Summit also shone a spotlight on retirement living and how this housing option integrates health, wealth and dignity. As South Africa's population ages, retirement living has emerged as a sector in need of attention, said Tim Gibson, director at Herdsmore. 'Retirement living in South Africa is at a crossroads. We must go beyond simply providing accommodation and focus on integrated communities that offer healthcare, social engagement and a sense of dignity for our seniors,' said Gibson. Herdsmore, under Gibson's leadership, is pioneering the development and management of modern retirement communities that blend independent living with access to healthcare, wellness programs and community activities. Their approach is rooted in international best practices but tailored to South Africa's unique demographic and cultural context. Gibson stressed the importance of collaboration between the public and private sectors to unlock capital and scale up quality retirement options: 'We see enormous potential for impact and returns in this space. By working together, developers, investors, and government can create environments where older South Africans thrive, not just live.' Student accommodation: building for the next generation The acute shortage of quality student accommodation was a major focus at the summit. Kagisho Mamabolo, CEO of the Private Student Housing Association (PSHA) Kagisho Mamabolo, CEO of the Private Student Housing Association (PSHA), estimated that South Africa faces a shortfall of 300,000 student beds. PSHA, established in 2019 by leading private providers, now represents 80,000 beds nationwide, many of which meet or exceed government standards. Mamabolo explained that student accommodation is about much more than just providing a place to sleep: 'Student accommodation is a very important part of our youth's future and the higher education system. It's not just about providing beds, it's about ensuring the dignity of students, supporting their futures and enabling their success.' While there is strong interest from private sector investors to support new student accommodation developments, Mamabolo noted that current government policy is making it increasingly difficult for these investments to be viable. In 2023, the National Student Financial Aid Scheme (NSFAS) introduced a cap limiting the maximum amount paid for a student's accommodation to R52,000 per year. The intention was to control costs and standardise spending, but, as Mamabolo pointed out, this cap is too low for providers to cover the real costs of building and running quality, compliant student housing. Research by PSHA shows that the true cost to sustainably provide accommodation that meets government norms and standards is closer to R66,000 per bed per year. The cap makes it financially unfeasible for private providers to invest in or maintain student housing, threatening the sector's sustainability and limiting students' access to safe, dignified accommodation. As a result, PSHA has called for the removal of the NSFAS cap and for funding to better reflect the actual costs of delivering quality student housing, so that providers can continue to meet the needs of South Africa's growing student population. As day two of the Reside Summit 2025 concluded, the message was clear: South Africa's urban future depends on bold, coordinated investment that includes alternative residential sectors. By directing capital into affordable housing, retirement living and student accommodation, stakeholders can achieve sought-after sustainable returns as well as social impact, reshaping cities and enriching lives for generations to come.


Fox News
3 days ago
- Business
- Fox News
World's biggest 3D-printed schools are underway in Qatar
Qatar is taking bold steps to transform its educational infrastructure. To lead this change, the country has launched one of the world's largest 3D-printed construction projects. UCC Holding and the Public Works Authority (Ashghal) are heading the effort. As part of the plan, Qatar will build 14 public schools. Notably, two of them will use advanced 3D printing technology. This initiative directly supports Qatar National Vision 2030, which prioritizes both innovation and sustainable growth. By using cutting-edge construction methods and forward-thinking design, Qatar is positioning itself as a global leader in scalable, eco-friendly architecture. To tackle a project of this scale, UCC Holding brought in the experts. The company partnered with Danish firm COBOD, a global leader in 3D construction printing. As a result, COBOD supplied two massive, custom-built BOD2 printers. Each machine measures approximately 164 feet long, 90 feet wide and 49 feet high, about the size of a Boeing 737 hangar. These industrial printers can build structures up to five stories tall. They enable fast, accurate and cost-effective construction that traditional methods can't match. Before launching the project, UCC's team of architects, engineers and technicians carried out extensive tests. At a trial site in Doha, they completed more than 100 full-scale component prints using a BOD2 printer. To further prepare for Qatar's desert climate, the team engineered a custom concrete mix designed to cure properly in high heat. Additionally, they developed a special extrusion nozzle to ensure smooth, precise printing. Each 3D-printed school is a two-story structure that will cover an area of 215,000 square feet. This is a total of 430,000 square feet. When compared to the biggest 3D-printed building we know of, these schools are 40 times bigger. They will be built on 328-by-328-foot plots. Therefore, making this project one of unprecedented scale for the region. Qatar's desert formations were the inspiration behind the architectural design of the schools. They have wavy walls that look like dunes, something that can only be made possible through 3D printing. Building these unique curved shapes would be too expensive and difficult with traditional construction methods. Qatar's 3D-printed school project goes beyond architectural innovation; it also marks a major step toward sustainable construction. 3D printing technology reduces material waste by up to 60% compared to traditional building methods. It also minimizes labor requirements and shortens construction timelines, leading to lower overall emissions and energy use. Moreover, the ability to print complex, curved designs, like the dune-inspired walls of these schools, proves how digital construction methods can unlock new levels of creativity while staying cost-efficient. This approach not only supports Qatar's environmental goals but also sets a new global standard for eco-friendly building design. Qatar's 3D-printed schools will be complete by the end of 2025 and demonstrate just how far construction technology has come. By combining both imaginative design and cutting-edge engineering, this project sets the standard for sustainable, scalable and future-ready educational infrastructure. Furthermore, it's an impressive milestone for the region, and a blueprint for how nations worldwide can rethink how buildings are made using the latest technologies. Do you think 3D printing construction is a good alternative to traditional construction methods? Let us know by writing us at Sign up for my FREE CyberGuy ReportGet my best tech tips, urgent security alerts, and exclusive deals delivered straight to your inbox. Plus, you'll get instant access to my Ultimate Scam Survival Guide - free when you join my Copyright 2025 All rights reserved.


Zawya
4 days ago
- Business
- Zawya
Oman: Sohar International, Liva sign $163mln loan deal
Muscat – In line with its commitment to enabling strategic partnerships that support sustainable business growth, Sohar International has signed a consolidated loan agreement with Liva Group, a leading multi-line insurance provider operating across the GCC. The RO63mn facility reflects Sohar International's growing role as a trusted financial partner for regional corporates seeking to optimise capital structures and scale with resilience. The signing ceremony took place at Sohar International's Waterfront Office and was attended by Abdulwahid Mohamed al Murshidi, Chief Executive Officer of Sohar International, and Martin Rueegg, Chief Executive Officer of Liva Group. Commenting on the strategic partnership, Abdulwahid Mohamed al Murshidi, Chief Executive Officer of Sohar International, stated: 'At Sohar International, we are focused on fostering strategic partnerships that create long-term value. Our agreement with Liva Group is a testament to our commitment to supporting ambitious, high-performing organizations with customised financial solutions that drive sustainable growth. 'This facility not only enhances Liva's financial flexibility but also reflects our shared commitment for regional progress, innovation, and long-term value creation. We are proud to partner with Liva on its journey to scale, diversify, and lead with purpose.' The facility consolidates Liva's existing borrowings into a single, streamlined structure – reducing financing costs, enhancing cash flow management, and increasing agility in capital deployment across the Group's operations. The agreement also provides a robust financial framework aligned with Liva's long-term growth strategy, particularly as it expands its presence across key regional markets. Martin Rueegg, Chief Executive Officer of Liva Group, added that this agreement is about more than refinancing; it represents a proactive step in strengthening our capital efficiency and readiness for the future. 'Sohar International stood out as a strategic partner that understands our operational landscape and shares our ambitions around regional integration, digital innovation, and customer-centric growth.' This partnership further strengthens Sohar International's growing regional presence and aligns with its aspirations to support clients expanding into high-growth markets such as Saudi Arabia – where both institutions share ambitious strategic goals. This partnership further strengthens Sohar International's growing regional presence and aligns with its aspirations to support clients expanding into high-growth markets such as Saudi Arabia. This collaboration sets the stage for broader financial engagement, including the delivery of advanced, tailored banking solutions that support Liva Group's evolving priorities across its core markets. By forging such strategic alliances, Sohar International reaffirms its position as a trusted partner of choice – empowering clients to unlock growth opportunities, accelerate regional expansion, and contribute meaningfully to the economic transformation of the wider region. © Apex Press and Publishing Provided by SyndiGate Media Inc. (