Wednesday, July 22, 2026
elitecraft
Home Authors Posts by Staff Writer

Staff Writer

1745 POSTS 0 COMMENTS
Mauritian listed business group ER Group (https://ERGroup.mu) has established a regional office in Nairobi, Kenya, and created a regional fund with equity partners to expand investment and partnerships across East Africa. The Group, created in 2025 through the merger of Mauritian business flagships ENL and Rogers, marks a new step in its regionalisation strategy by strengthening its presence in one of Africa’s most dynamic economic regions. Regional expansion is one of the pillars of ER Group’s ten-year strategy, set out earlier this year. In line with this roadmap, the Group, which is present in 17 territories worldwide, is accelerating its expansion in Africa through a measured approach focused on sectors it knows well. The priority is to grow in industries and countries the Group already operates, working with trusted partners to expand sustainably. Through this approach, ER Group aims to increase the contribution of international activities from around 15% of revenue today to 30% over the coming decade. East Africa has been identified as a priority region within this strategy, with Kenya, Tanzania, Zanzibar, Rwanda, and Uganda forming the first phase of expansion. To back this ambition, ER Group has created, together with equity partners, a regional fund of MUR 1 billion to accompany the expansion of its subsidiaries across Africa. The fund is designated to providing capital for growth, supporting selective investments and providing additional capacity to pursue opportunities in markets and sectors where the Group has established expertise. On the ground, ER Group has appointed Rasmus Bentzen as its regional representative in Nairobi. Bringing over a decade of experience in private equity and regional investment across East Africa, he will anchor the Group’s regional expansion agenda by identifying investment opportunities, developing strategic partnerships and supporting growth of its subsidiaries in Africa. Gilbert Espitalier-Noël, Group Chief Executive Officer of ER Group, said: “Regionalisation is a central part of our long-term strategy. We focus on markets where our businesses already have operational expertise and where partnerships can support sustainable growth. Establishing a regional office in Nairobi strengthens our ability to identify opportunities and support the expansion of our subsidiaries across East Africa.” As it accelerates its regional ambition, ER Group, one of Mauritius’s most profitable and diversified business groups, continues to combine strong financial performance with dedicated investment, giving it the capacity to support its expansion with discipline and long-term perspective. For the first half of FY26, the Group, listed on the Stock Exchange of Mauritius and included in its Sustainability index (SEMSI), reported: Revenue of MUR 23.2 billion ($492.7 million) EBITDA of MUR 6.4 billion ($135.9 million) Profit after tax of MUR 2.6 billion ($55.2 million) Operating margin of 26% Expected EBITDA FY26: MUR 12 billion ($254.8 million) The Nairobi presence, combined with the creation of dedicated regional investment capacity, marks the start of a more active phase of expansion for ER Group, building on its existing footprint and financial capacity to deepen partnerships and pursue opportunities across East Africa and the Indian Ocean region.
News

ER Group chooses Nairobi to accelerate East African partnerships and investment

Staff Writer -
0
Binance (https://www.Binance.com), the world’s leading cryptocurrency exchange, highlights the progress it continues to make in strengthening compliance and regulatory excellence, reinforcing its role as a pioneer in building a safer and more transparent crypto industry. Over the past years, Binance has invested significantly in enhancing its global compliance framework by expanding its teams, systems and controls that align with evolving regulatory expectations across its key markets. These ongoing efforts are designed to support responsible innovation while ensuring that user protection, financial integrity and market transparency remain at the core of the platform’s operations. Leading with Robust Compliance Measures Binance has implemented a multi-layered compliance program that includes advanced transaction monitoring, stringent Know Your Customer (KYC) protocols, and continuous enhancements to its anti-money laundering (AML) systems. These efforts are designed to protect users, prevent illicit activities, and ensure adherence to evolving regulatory requirements across jurisdictions. Building the Future of Crypto with Advanced, Measurable Compliance Over the past several years, Binance has built one of the most robust compliance programs in the digital-asset industry, combining world-class talent, advanced monitoring technology, and strong partnerships with regulators, law-enforcement agencies, and independent analytics providers. These programs include rigorous onboarding and KYC controls, sophisticated transaction monitoring systems, sanctions screening, behavioral analytics, and a dedicated global compliance team of more than 580 professionals, supported by more than 970 employees in compliance-related roles across customer-service, technology, and product teams. The results of these efforts are measurable: Binance’s direct exposure to illicit activity has dropped by 96% between January 2023 and June 2025, while its capacity to detect, report, and help disrupt financial crime continues to grow. Specifically, sanctions-related exposure reduced dramatically and is now marginal (from 0.284% in January 2024 to just 0.009% in July 2025, a 96.8% decrease). This progress reflects daily collaboration with authorities, independent research, and the lived experience of serving over 300 million users safely, demonstrating how modern crypto compliance works in practice and underscoring Binance’s ongoing commitment to transparency, regulatory excellence, and a safer financial ecosystem. Noah Perlman, Binance Chief Compliance Officer, "At Binance we’ve built a system that doesn't just react to threats, it anticipates them. A 96% reduction in illicit exposure is a testament to our infrastructure and the 1,500+ professionals working behind the scenes to protect our 300M users." Driving Industry-Wide Standards Binance’s leadership team emphasizes that compliance is a shared responsibility and that the company actively engages with regulators, policymakers, and industry partners to foster a collaborative environment. This engagement helps shape balanced regulations that support innovation while safeguarding users and the broader financial system. Transparency and User Protection Transparency remains a cornerstone of Binance’s compliance philosophy. The company regularly publishes updates on its compliance initiatives and welcomes dialogue with the community and regulators. By maintaining high standards, Binance ensures that users can trade with confidence on a platform that prioritizes security and integrity. National Cybercrime Units Collaborations Binance responds to tens of thousands of law-enforcement requests each year. In 2025 alone, Binance responded to more than 71,000 law enforcement requests and assisted in confiscating over $130 million in illicit funds. Binance supports agencies such as Europol (https://apo-opa.co/4coJAx9), INTERPOL (https://apo-opa.co/4b0FCIt), the DEA, the NCA, Homeland Security Investigations, and multiple national cybercrime units. These collaborations have resulted in the takedown of ransomware groups, darknet markets, human-trafficking networks, and financial-fraud rings. The value of our work has been repeatedly recognized by our global law-enforcement partners. Richard Teng, Binance co-CEO, "Our mission has always been to increase the freedom of money, but that freedom is only sustainable if it is built on a foundation of trust. By integrating compliance into our product DNA, we are proving that the world’s largest exchange can also be the most secure." Binance remains committed to building a secure, transparent, and trusted platform through ongoing investment in compliance, strong global partnerships, and independently validated results. Since its launch in 2017, Binance has focused on protecting users and supporting the responsible growth of digital finance, with measurable progress recognised by law-enforcement agencies and regulatory stakeholders worldwide.
News

Binance Reinforces Industry-Leading Compliance Commitment to Foster a Safer Crypto Ecosystem

Staff Writer -
0
According to recent studies, as artificial intelligence (AI) continues to evolve, text-generating tools are becoming increasingly widespread, powering everything from chatbots to advanced language generation. Among the most notable of these models are Google Gemini, ChatGPT, and Copilot, each with its own unique design, capabilities, and approach to transforming how we interact with information. Research shows that Google Gemini is leading the way in AI-powered text generation. Equipped with advanced lgorithms and vast training data, it produces highly accurate, context-aware responses. Gemini Ultra recently made headlines by scoring 90.0% on MMLU (Massive Multitask Language Understanding), becoming the first model to outperform human experts. At Zetech University, this global shift toward AI innovation is already taking shape. On 27th to 28th February 2026, the University hosted the Build with Gemini Hack Day, an overnight AI hackathon supported by Google and Major League Hacking. More than 100 student developers were tasked with building creative and practical solutions using the Gemini API. Competing alongside peers from international institutions like IMS Engineering College in India and VIT Chennai, the students embraced innovation, collaboration, and problem-solving. Expert faculty mentors and industry professionals assisted the participants in navigating full-stack development, connecting front-end interfaces with robust back-end systems while adhering to professional engineering standards. A key milestone of the event was the launch of a School GitHub Organisation Account, providing a platform for collaboration, version control, and preservation of intellectual property, ensuring the ideas generated could evolve into future innovations. Zetech University continues to lead as a hub for innovation and technology by offering hands-on learning experiences, forging strategic industry partnerships, and providing students with access to cutting-edge AI tools. Through collaborations with global tech leaders and a focus on practical, real-world projects, the University empowers students to develop solutions that address pressing challenges and drive meaningful impact.
News

Build with Gemini Hackathon: Students Transform Concepts into Cutting-Edge AI Projects

Staff Writer -
0
Alioune Cis
News

Opinion: Why the Future of Customs is Agentic Artificial Intelligence (AI)

Staff Writer -
0
Radisson Hotel Group has reached a significant milestone in Africa, with more than 100 hotels across the continent in operation and under development. Radisson Blu continues to anchor the legacy footprint. At the same time, the Radisson brand is the fastest riser, supported by a strong conversion engine and a concrete pipeline that continues to translate into openings. Building on this momentum, the Group has signed over 15 new hotels and roughly 2,500 rooms in the last 12 months, including new market entries in the Democratic Republic of Congo and Zimbabwe. This week, Radisson Hotel Group is also attending FHS Africa (www.FutureHospitality.com) in Nairobi, reinforcing its commitment to expanding its presence and strengthening strategic partnerships across the continent. Over the past five years, Radisson and Radisson Blu have ranked among the most signed brands in Africa, with one of the highest shares of cumulative openings. The last 12 months set a new benchmark with more than 2,500 rooms signed and multiple market entries. Priority growth markets remain Morocco, South Africa, and Nigeria, where the Group is deepening its presence and widening its brand distribution. Ramsay Rankoussi, Regional Chief Development Officer, Radisson Hotel Group, commented: “We’ve crossed the 100-hotel mark in Africa by staying true to our plan, focusing on where we can lead, moving fast on quality conversions, and partnering with owners who share our ambition. The next phase is about depth in Morocco and Nigeria, a smarter footprint in South Africa, and a stronger resort offering that matches where travelers want to go. Our pipeline is built to open, not just to announce. That is why our conversion share is high, our time to market is short, and our brands are gaining ground in the cities and resort destinations that matter most.” Nigeria shows the model’s resilience. The Group now holds a strong position in the country with 13 hotels in operation and pipeline, while Abuja is carrying a significant active pipeline with three hotels totaling 458 keys. South Africa is being reshaped with priorities in Cape Town, targeted growth in secondary cities such as Durban and Pretoria, and a sharper focus on leisure corridors that include Kruger National Park, Sun City, and the Garden Route. The Group plans to enter Zanzibar and is considering lodge, safari, and affiliation opportunities across Namibia, Botswana, and Zambia to meet the rising demand for nature-led experiences. Conversions remain a core lever for scale and speed. In the last five years, more than 15 hotels, equal to almost 3,000 rooms, joined the portfolio through conversion. This helped the Group lead openings across the continent while keeping brand standards high and owners in mind. Recent signings show the extensiveness of this strategy, with a balanced pipeline of city hotels, resort destinations, and quick-to-market conversions. These signings span the Democratic Republic of Congo, Nigeria, Zimbabwe, and Morocco, including Radisson Blu Kinshasa and three Radisson hotels in Lubumbashi, Radisson Harare, Park Inn Victoria Falls, Radisson Collection Lagos Atlantic, as well as new additions in Casablanca with Radisson Blu Resort & Conference Center Bouskoura, a first Radisson brand hotel in Rabat, and further expansion in Marrakech. Key signings include: Democratic Republic of the Congo Radisson Blu Hotel, Kinshasa Upper-upscale flagship in Gombe Opening late 2026. Set on Boulevard Colonel Tshatshi in the Gombe district, the hotel will offer 110 keys, including suites and a Presidential Suite. Guests can choose from a lobby bar, an all-day dining restaurant, and a pool bar. Wellness includes a gym, massage rooms, and an outdoor pool with a terrace. Meetings and events feature a modern event hall with a pre-function area. The address is well connected, 32 kilometers from N’djili International Airport, 10 kilometers from N’Dolo Airport, and 6 kilometers from Gare Centrale. Radisson Hotel Lubumbashi Panoramic city stay in the DRC’s second city Opening mid-2027. Located on Revolution Road Avenue, the hotel will feature 97 keys, including junior suites and a Presidential Suite. Dining spans a lobby bar, an all-day dining venue, and a rooftop bar and grill with city views. Three flexible meeting rooms and a pre-function area support business and social events. Facilities include a gym and a swimming pool. The location sits near Kipopo Lake, Lubumbashi Golf Club, and La Plage, and is 12 kilometers from Luano International Airport. Radisson Blu Apartments Lubumbashi Upscale apartment living in Lubumbashi’s prestigious Quartier Golf Targeted for 2030. A 160-room property located in Quartier Golf, one of Lubumbashi’s most upscale residential districts, near Kipopo Lake and surrounded by luxury homes and key landmarks including Lubumbashi Golf and La Plage. Planned amenities include a specialty restaurant and bar, a pool bar, and a gym, offering a premium stay experience for extended-stay and leisure travelers. Radisson Airport Hotel Lubumbashi A strategically located airport hotel designed for ease and connectivity Set to open in 2028, this 105-room property will be located just 6 kilometers from Luano International Airport, around a 10-minute drive, making it well positioned for business travelers, transit guests, and airline crews. Planned facilities include a restaurant, lobby bar, pool bar, meeting rooms, and a swimming pool, combining practicality with a welcoming hospitality experience close to the airport. Egypt Radisson Resort Ain Sokhna Groove A large-scale Red Sea resort in one of Egypt’s growing leisure destinations Planned for 2029, Radisson Resort Ain Sokhna Groove will offer 469 rooms, including 50 family rooms, as part of The Groove Ain Sokhna mixed-use development. Located along the Red Sea coast, around 30 kilometers south of Ain Sokhna and approximately 150 kilometers from Cairo, the resort is expected to feature private beach access, a spa, gym and fitness center, several restaurants, plus a ballroom and meeting rooms, catering to both holidaymakers and events demand. Radisson Serviced Apartments COY Sheikh Zayed City Flexible extended-stay accommodation in a fast-growing hub of Greater Cairo Expected to open in 2030, this 120-key serviced apartments property, including six one-bedroom units, will form part of the COY development in Sheikh Zayed City. With a location just 13 kilometers from Sphinx International Airport and 14 kilometers from the Great Pyramids of Giza, the development sits close to major commercial, leisure, education, and healthcare destinations. Planned amenities include a coffee lounge, bar, kiosk, and meeting and event space integrated into the wider co-working environment. Morocco Radisson Blu Hotel & Conference Center, Casablanc a Bouskoura Conference-ready address beside Palm Golf A 119-key hotel with eight suites, a rooftop restaurant, and a dedicated conference center. Event facilities include two boardrooms, while a spa and a large outdoor pool cater to leisure travelers. The hotel is located 20 kilometers from Mohammed V International Airport and next to Palm Golf Palmeraie Country Club. Radisson Hotel & Apartments Rabat Technopolis Dual-component hub in the capital’s innovation park A two-building project in Technopolis, 25 minutes from central Rabat. The hotel will offer 140 rooms, four dining venues, a pool, and a meeting and events space. The adjacent serviced apartment building adds 56 units. Technopolis connects businesses with leading education and research centers, creating a strong base for corporate demand. Radisson Blu Resort Marrakech Ben Akil Low-rise bungalows with views of Atlas Mountains Opening early 2028. A 17-hectare estate featuring 80 bungalow-style accommodations, each with an outdoor terrace. Larger typologies include private pools. The resort sits beside Royal Golf Marrakech and is a 15-minute drive from the city center. Nigeria Radisson Hotel Aba A new internationally branded hospitality destination for Aba Targeted for 2031, Radisson Hotel Aba will introduce 120 rooms, including six junior suites, in a prime riverside location along the Aba River near key transport corridors. The hotel will become the first Radisson-branded property in Aba and the Group’s third branded hotel in Nigeria. Plans for the hotel include a gym, swimming pool, and several meeting rooms, serving both business and local demand. Sam Mbakwe International Airport in Owerri is approximately 56 kilometers away, or a 1 hour and 10 minute drive. Radisson Hotel & Conference Center Yenagoa A conference-focused hotel in the heart of an emerging Nigerian business center Scheduled for 2027, the property will feature 196 rooms, including 16 junior suites, four executive suites, and two Presidential Suites, in Yenagoa, a city that is steadily strengthening its role as an administrative and commercial hub in southern Nigeria. Located near government institutions, business districts, and Bayelsa International Airport, approximately 33 kilometers or 40 minutes away, the hotel is set to benefit from the area’s ongoing infrastructure and hospitality growth while meeting rising demand for accommodation, meetings, and large-scale events. Radisson Collection Hotel, Lagos Atlantic Refined lifestyle luxury on the oceanfront of Lagos’ leading business district Targeted for 2029, Radisson Collection Hotel, Lagos Atlantic will feature 107 rooms, including 16 executive suites and one Presidential Suite, on a prime oceanfront site on Victoria Island. As Lagos’ main financial and commercial district, Victoria Island is home to multinational companies, corporate headquarters, embassies, and strong year-round business activity. Located approximately 33 kilometers from Murtala Muhammed International Airport, around a 45-minute drive, the hotel will mark the second Radisson Collection property in Lagos. South Africa Radisson Serviced Apartments Umhlanga A modern serviced apartment offering in the heart of Umhlanga’s business district Planned for 2029, Radisson Serviced Apartments Umhlanga will introduce 155 rooms in a newly built development within Umhlanga Ridge, one of the area’s most established commercial and lifestyle hubs. The property will be within walking distance of Gateway Theatre of Shopping and close to major office precincts, including Umhlanga Ridge Business Park, La Lucia Office Park, and Glass House Office Park. Comprising studios and apartments, the project is designed to meet growing demand for high-quality extended-stay accommodation in the district. Zimbabwe New market entry Radisson Serviced Apartments, Harare Prime Borrowdale address for extended stays Targeted for end-2028. A 147-key serviced apartments project within a master development near Maxwell Road in Borrowdale. The neighborhood is known for luxury residences, upscale shopping at Sam Levy’s Village, and entertainment at Borrowdale Racecourse. Planned amenities include a café and bar, a gym with sauna, and a pool with a deck. Set to be the only internationally branded hotel apartment offering in the area. Park Inn by Radisson Victoria Falls Resort A resort destination near one of the world’s most iconic natural landmarks Expected to open in 2029, Park Inn by Radisson Victoria Falls Resort will offer 150 rooms, including five suites, in a setting overlooking Zambezi National Park. Located just 5 kilometers from Victoria Falls, around a 10-minute drive, the resort will be ideally positioned near one of the Seven Natural Wonders of the World, a destination that attracts more than 350,000 international visitors each year. With year-round waterfall views, adventure tourism, and access to safari experiences in the surrounding national parks, the property will cater to both leisure travelers and tour groups. Victoria Falls Airport is located approximately 22 kilometers, or a 23-minute drive, away. Leading with the most diverse footprint across the continent, with presence in more than 30 African countries, Radisson Hotel Group blends depth in focus markets with selective entry into new destinations each year.
News

Radisson Hotel Group Surpasses 100 Hotels in Africa, Accelerating 2030 Growth...

Staff Writer -
0
The lender’s balance sheet also strengthened, with net loans and advances growing by 14 percent to Sh105.9 billion, supported by a 19.9 percent rise in customer deposits to Sh151.88 billion. “The year 2025 marked a pivotal start of our five-year strategic plan which is anchored on compelling customer propositions & digital transformation. We continued to invest in digital capabilities and optimization of our distribution network to enhance customer experience and improve our product offering, positioning the Bank for sustainable growth,” said Family Bank CEO Nancy Njau. “Our continued investments in our employees through capacity building and enabling work environment greatly contributed to the good performance. Partnerships with Development Finance Institutions strengthened our capacity to lend to key sectors such as SMEs, agribusiness and manufacturing, contributing to the expansion of our loan book,” she said
News

Family Bank profit after tax jump 55.4pc to Sh5.38bn

Staff Writer -
0
“This performance demonstrates the impact of the strategic efficiency measures we implemented across the business, which have enabled significant cost savings. Maintaining these efficiency levels will remain a priority going forward,” said acting Chief Executive Officer Dominic Murage. “Small and Medium Enterprises (SMEs) remain central to our business model and portfolio, and we intend to deepen our support for them. Additionally, as a government-owned institution, we are uniquely positioned to support public sector financing needs. We aim to strengthen our collaboration with government agencies, parastatals, universities and ministries to position Consolidated Bank as the preferred banking partner for the public sector,” he added. The bank’s total assets grew by 11 percent to Sh19.5 billion from Sh17.5 billion in 2024, driven largely by a 29 percent increase in investments in government securities to Sh8.2 billion from Sh6.4 billion.
News

Consolidated Bank posts Sh217mn in profits

Staff Writer -
0
Industry players say limited access to timely financing has remained a major bottleneck in the sector, often disrupting supply chains and leading to post-harvest losses, especially for perishable goods. FPCK estimates the fresh produce sector currently supports more than three million livelihoods, with potential to scale further if structural challenges such as access to credit are addressed. Analysts note that such solutions could improve efficiency in agricultural value chains, reduce reliance on expensive informal credit and support expansion of Kenya’s horticulture exports.
News

Avenews, FPCK roll out financing for farmers

Staff Writer -
0
“Despite prevailing macroeconomic headwinds, the ASA REITs have maintained stable operational performance, supported by good occupancy and continued focus on balance sheet management,” said Executive Director Mathew Maina. Acorn’s total student accommodation portfolio now stands at nearly 21,000 beds, while assets under management (AUM) across the two REITs grew by 11 percent to Sh29.3 billion. The firm said it will focus on expanding its income-generating portfolio in 2026 through acquisition of new assets, debt optimization, and improved operational efficiency.
News

Qwetu hostels owner Acorn posts Sh1.5bn profit

Staff Writer -
0
News

I&M Group net profit up 24pc to Sh19.8bn

Staff Writer -
0
1...8910...175Page 9 of 175

MOST POPULAR

Load more

HOT NEWS

Ad

EDITOR PICKS

POPULAR POSTS

POPULAR CATEGORY

© 2026. All Rights Reserved. Designed by Elite Craft Limited.