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Africa Finance Corporation and SkyPower Global to start work for DR Congo’s energy needs

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Renewable energy in the Democratic Republic of Congo (DRC) is set to get a significant boost as Africa Finance Corporation (AFC) and SkyPower Global have come decided to come together for the first phase of the latter’s Green Giant project in the country.

This 200MW Phase 1 is a crucial step in realising the landmark 1,000MW Solar Power Purchase Agreement (PPA) signed between SkyPower and the DRC’s state-owned utility, Société Nationale d’Electricité (SNEL).

The partnership creates a formidable force in the pursuit of sustainable energy solutions for the continent in the fight against climate change. The venture will leverage SkyPower’s unparallelled global experience in developing large-scale solar projects and AFC’s proven track record of successfully de-risking and distributing capital for well-structured power and other infrastructure projects across Africa.

Coming in the wake of COP28, this agreement underscores both organisations’ dedication to the United Nations Sustainable Development Goals, particularly emphasising the critical role of partnerships in accelerating renewable energy adoption and addressing the escalating climate crisis.

The DRC Green Giant project, heralded by the signing of the initial PPA with SNEL, marked a historic commitment from the DRC government to enhance electrification rates through renewable energy partnerships. President Félix Tshisekedi’s strategic vision targets a significant boost to the nation’s clean energy output, contributing to a projected US$2.3 billion stimulus to the DRC’s GDP and the creation of approximately 30,000 job years.

The Joint Development Agreement is set to catalyse the construction of the first 200MW phase of the project, with all necessary approvals secured and land allocation completed, ensuring a swift transition to development stage and the commencement of construction by 2025.

“Partnering with SkyPower, an institution known for their decades of global expertise in large-scale solar projects, is well aligned with our mission to advance energy access on the continent through renewable energy,” said Amadou Wadda, Senior Director of Project Development and Technical Solutions at AFC, the continent’s leading infrastructure solutions provider.

“Through this collaboration, we aim to contribute significantly to rapid industrialisation, local job creation, sustainable economic growth and a pragmatic transition to net zero in DRC and Africa as a whole.

Kerry Adler, President & Chief Executive Officer of SkyPower, highlighted AFC’s leadership role and its commitment to fast-tracking the deployment of essential energy projects as crucial to leveraging solar energy to spur economic development, create job opportunities, and tackle climate change effectively. “Partnering with AFC exemplifies a concerted effort toward realizing the ambitious goals set by forward-looking countries such as the DRC, aiming for a brighter, more sustainable future for everyone,” Adler noted. “This agreement underlines AFC’s pivotal contribution to promoting renewable energy solutions and both AFC and SkyPower’s unwavering commitment and dedication to ensuring a greener, more resilient world.”

SkyPower Global stands at the forefront of utility-scale solar energy project development and project ownership around the world, boasting over 20 years of operational history. The company is supported by a highly experienced team, collectively holding more than 1600 years of expertise in power, empowerment, and significant infrastructure initiatives. SkyPower has diligently developed an extensive pipeline of projects exceeding 10GW, which are at diverse stages of development, construction, and operation. This broad pipeline demonstrates SkyPower’s strong commitment to and expertise in the renewable energy sector, with projects set for implementation in strategic locations like the Middle East, Africa, and South Asia in the near future.

SkyPower has developed over 30 utility-scale solar Power Purchase Agreements (PPA) currently in operation across the globe and contracts, amounting to more than USD $60 billion in long-term renewable energy sales to leading utilities and government partners worldwide. Adding to its robust profile, SkyPower is majority-owned by CIM Group, a community-focused real estate and infrastructure owner, operator, lender, and developer. Since its inception in 1994, CIM Group has been committed to creating value in its projects and making a positive impact on the lives of people in communities across the Americas. Through its efforts, CIM Group has delivered more than $60 billion in essential real estate and infrastructure projects, furthering SkyPower’s mission to transform the energy landscape and enhance community well-being through sustainable development.

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DIFC unveils relief package to ease financial pressure for more than 8,000 companies

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The Dubai International Financial Centre (DIFC) has today announced a comprehensive suite of temporary economic support measures designed to fortify its business and retail community. Effective immediately, the package addresses short-term operational pressures, ensuring the DIFC ecosystem remains the most resilient financial hub in the MEASA region.

As the global economy navigates a shifting landscape, the DIFC Authority is taking a proactive stance to provide financial reassurance and administrative flexibility to its 8,800+ active firms.

Targeted financial & operational support

The relief measures are specifically designed to stabilise cash flows for both commercial tenants and retail operators. Key initiatives include:

  • Flexible Payment Solutions: Customised payment plans for retail and commercial sectors.
  • Licensing Ease: New instalment plans for license renewal fees to reduce upfront capital requirements.
  • Administrative Grace Periods: Extensions on payments related to the Registrar of Companies, Data Protection Department, and lease contract filings.
  • Workforce Support: Deferred timelines for registering employees into the DIFC Employee Workplace Savings (DEWS) scheme.

Regulatory flexibility

In tandem with the DIFC Authority, the Dubai Financial Services Authority (DFSA) is introducing regulatory relief to maintain market momentum. These measures will support existing regulated firms and streamline the authorisation process for new entities seeking to enter the Dubai market.

“At DIFC, we stand alongside our clients, partners, and employees with a clear commitment to provide support and reassurance when it is needed most,” said Arif Amiri, Chief Executive Officer of DIFC Authority.

The announcement comes as DIFC continues its Zabeel District expansion, which is set to house over 42,000 companies. By prioritising the human and financial health of its current partners, DIFC is reinforcing Dubai’s position as a top-four global financial centre that prioritises stability alongside innovation.

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Dubai ad agency turns billboard into a self-funded tribute of gratitude and love for the UAE

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As global markets navigate a landscape of uncertainty, the UAE continues to stand as a beacon of stability and resilience. While business leaders across the region have applauded the nation’s defence mechanisms and leadership, one Dubai-based advertising firm is moving beyond words and into action.

NextWhat Advertising has unveiled a massive, self-funded tribute billboard at the Dubai World Trade Centre Roundabout. In a move that breaks industry norms, the agency has bypassed commercial revenue to dedicate one of the city’s most premium outdoor spots to a message of solidarity and love for the UAE leadership.

The billboard, strategically located in the parking area facing the flow of traffic from Emirates Towers toward Zabeel Road and facing the iconic Sheikh Zayed Road, carries a heartfelt message honouring the strength, wisdom, and commitment to unity that defines the UAE’s path forward.

Gratitude for leadership

While Corporate Social Responsibility (CSR) campaigns are common, they are almost exclusively funded by clients. NextWhat is pioneering a different path: the billboard owner acting as the benefactor.

“Typically, we see clients using CSR funds for these types of messages. Among outdoor media players, we are amongst the first few to have done this entirely on our own,” says Tanvir Shah, Founder and Managing Director of NextWhat Advertising. 

“We’ve spent our own money and used our own premium space, no sponsorship, no clients, to show our genuine gratitude for the safety and leadership the UAE provides.”

From Mumbai to the world stage

The man behind the move, Tanvir Shah, is a first-generation entrepreneur with a legacy of Thinking Big. A graduate of Mumbai’s prestigious Sydenham College and a veteran of The Times of India, Shah launched his first venture in 1992. Today, his footprint spans India, Sri Lanka, and the UAE.

Under Shah’s leadership, NextWhat has become synonymous with unmissable brand experiences. By dedicating their state-of-the-art digital and large-format sites to a national cause, the company is demonstrating that in the UAE, the bond between the private sector and the state is built on more than just commerce; it is built on shared resilience.

United we stand as a family

Today, as business leaders and residents alike confront uncertainty, they do so not as guests in a foreign land, but as a united family standing in defence of the home that has embraced them. This bond has been forged through years of shared milestones and a collective belief that, regardless of origin, hearts can beat as one for the Emirates.

“The UAE has given us extraordinary opportunities and unwavering support. Just as it welcomed us during times of prosperity, we stand with it now in moments of challenge. We are not merely expatriates or guests; we are family. Irrespective of nationality, we have consciously chosen this country as our home, and we hold it close to our hearts. Our loyalty has only grown stronger through the trust and confidence shown by the nation’s leadership. This land has embraced us with dignity, and the least we can do is stand by it. At the end of the day, we are one,” concluded Shah.

Click on the link to see a video of the ad: https://www.instagram.com/reels/DWqPp7EjKCU

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Dubai unveils Dh1 billion economic package to support tourism, businesses

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Dubai authorities have announced a series of business support measures aimed at strengthening resilience, easing financial pressures, and sustaining economic growth across key sectors.

The initiatives are part of a wider Dh1 billion economic incentive package unveiled by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Deputy Prime Minister.

Relief for tourism and hospitality

To support hotels and tourism-related businesses, the government will allow:

  • Deferral of 100% of sales fees on rooms and food & beverage
  • Postponement of Tourism Dirham fees

These relief measures will be valid for three months starting April 1 and apply to:

  • Hotels
  • Hotel apartments
  • Holiday homes

The goal is to enhance liquidity and reduce short-term financial strain on the hospitality sector.

Wider support for businesses

Additional measures have been introduced across the broader economy, including fee deferrals for three months on:

  • Premium business names
  • Licence amendments
  • Newspaper announcements
  • Local service fees
  • Accommodation and waste management fees
  • Service improvement charges

These apply to both new business licences and renewals, with further updates expected after the three months.

Additional reforms

The broader package also includes:

  • Extended grace periods for customs data
  • Streamlined processes for issuing and renewing residency permits

Officials from the Dubai Department of Economy and Tourism emphasised that the emirate’s economic success is built on proactive policymaking and strong collaboration with industry stakeholders.

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