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News on Medial
South African lender Investec opens office in Dubai's financial centre
VCCircle
·
10m ago
Medial
South African lender, Investec, has opened an office in the Dubai International Financial Centre (DIFC) to tap into the region's vast wealth. The DIFC has become increasingly attractive for international banks, asset and wealth managers, and hedge funds. Investec will offer private banking, wealth and investment management, and corporate and investment banking services to high-net-worth individuals in Dubai and the Gulf. The move enables Investec to access over $3tn of private wealth within a one-hour's flight of Dubai. The DIFC office currently has two team members but expects to expand in the future.
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Indian funds funneling global capital via Dubai into home market: DIFC’s Jaffery
VCCircle
·
3m ago
Medial
The Dubai International Financial Centre (DIFC) has experienced significant growth in Indian firms establishing operations, including asset management companies and family offices, over the past two years. Salmaan Jaffery, DIFC's chief business development officer, highlights this trend of Indian funds channeling global capital through Dubai to return it to their domestic market. This development signifies Dubai's rise as a pivotal financial hub for Indian businesses seeking international expansion and capital influx management.
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South African crypto firm VALR looking at international expansion, forays into Poland
VCCircle
·
1y ago
Medial
South African cryptocurrency exchange VALR is expanding its services into Poland and considering further expansion into other jurisdictions globally, according to CEO Farzam Ehsani. The move comes after VALR obtained licences from South Africa's Financial Sector Conduct Authority, which aims to create a regulated environment for cryptocurrency users. VALR currently serves over 600,000 retail customers and over 1,000 institutional customers. Ehsani said the company aims to attract more clients from outside South Africa and become a global player in the crypto market. VALR is also considering licensing opportunities in African countries including Nigeria, Kenya, Ghana, and Egypt.
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UK PE firm Apis Partners marks sixth full exit from debut fund
VCCircle
·
1y ago
Medial
Apis Partners, a UK-based private equity firm, has fully exited its investment in a South African payments platform through a strategic sale. This marks the sixth full exit for the firm from its debut fund. Apis Partners focuses on backing growth stage financial services and financial infrastructure businesses. The London-headquartered firm successfully monetized its six-year-old investment in South Africa's largest payments platform.
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DFDF to widen investor base in three-phase expansion strategy
VCCircle
·
1y ago
Medial
Dubai Future District Fund (DFDF), the first evergreen venture capital fund-of-funds in the region, is planning a three-phase expansion strategy to attract a wider range of investors. With an initial funding of $200 million from the Dubai Future Foundation and Dubai International Financial Centre, DFDF aims to diversify its capital base and boost its growth. The fund aims to support innovative startups and drive economic development in Dubai's future district.
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South African Old Mutual's PE arm strikes bolt-on acquisition
VCCircle
·
1y ago
Medial
Old Mutual Private Equity (OMPE), the investment arm of South African financial services group Old Mutual, has made a bolt-on acquisition within its portfolio. Morecentral, a sports and leisure company controlled by OMPE, has acquired another sports and events company. Additional details of the deal were not provided.
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Admaius Capital in PE dealmaking spree with control transaction in South Africa
VCCircle
·
1y ago
Medial
Pan-African private equity firm, Admaius Capital Partners, has made another deal in the region, acquiring a majority stake in a South African company. This marks the seventh investment for the firm from its first fund and the fourth deal in just over a month. With offices in Rwanda, Nairobi, Johannesburg, Tunis, and London, Admaius Capital is actively expanding its portfolio in the African market.
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South Africa to investigate Microsoft over cloud computing licensing practices
Economic Times
·
1y ago
Medial
The South African antitrust agency plans to investigate Microsoft over its cloud computing licensing practices, following a similar case in the European Union. Although Microsoft stated that it is unaware of any complaint filed by the South African competition authority, the source suggests that the investigation will resemble that of the EU antitrust case. This comes after rivals in several European countries, including Germany and France, raised concerns about Microsoft's new contractual terms.
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Banxso's Technological Vanguard: Steering India Towards a Tech-Enabled Financial Future
VCCircle
·
1y ago
Medial
Banxso is a South African brokerage firm that is leading the way in technological innovation within the financial sector. Their use of AI-driven analytics and social trading platforms has revolutionized traditional financial services. Their initiatives have important implications for India's digital finance sector, including inspiring fintech firms to embrace innovation, increasing financial accessibility, streamlining compliance with regulations, and promoting partnership and growth. By leveraging technology, Banxso is steering India towards a tech-enabled financial future.
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Centre approves potato research centre in Agra with Rs 111.5 cr assistance
Economic Times
·
1m ago
Medial
The Union government has approved setting up a South Asia regional research centre of the International Potato Centre (CIP) in Agra, with a financial backing of Rs 111.5 crore. Led by Prime Minister Modi, the Union Cabinet aims to boost food security, farmer income, and employment via enhanced potato productivity and value addition. Located in Singna, the centre will focus on seed production, pest management, and farmer training, supported by the Uttar Pradesh government’s land allocation.
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MENA Digest: Dubai’s YAP, Fuse, Egyptian startup InfiniLink get funding
VCCircle
·
4m ago
Medial
Dubai's digital banking platform YAP secured $41 million for Middle Eastern and African expansion. Founded in 2021, YAP offers digital banking solutions and aims to enter markets like Saudi Arabia and Pakistan. Fuse, another Dubai fintech startup, raised $6.6 million for cross-border payment infrastructure, offering virtual IBANs for international businesses. Egypt's InfiniLink raised $10 million to develop optical data connectivity chips, supporting AI-driven data centers with advanced Silicon Photonics technology.
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