29, June 2023
CNPS joins Africa Finance Corporation as shareholder 0
The Africa Finance Corporation (AFC) has two new shareholders, including Cameroon’s public pension fund, the CNPS. The Pan-African Corporation announced the news on June 20, 2023.
“We warmly welcome CNPS and SBM Capital Market Securities as investors in AFC. This step is evidence of AFC’s role as a preferred partner for infrastructure investment on the continent, to deepen economic integration, enable import substitution, and develop Africa’s manufacturing and industrial capacity,” commented Samaila Zubairu, CEO of AFC.
While the investment’s amount and the stake acquired by the CNPS are yet to be known, the move should, according to the pension fund, help it achieve its goal of bringing its annual return on financial investments to around XAF40 billion by 2026. “For the next five years, we intend to double the [financial investment income from 2021],” said CNPS boss, Alain Olivier Mekulu Mvondo Akam, in an interview with Cameroon Tribune, a state-owned newspaper. He referred to the increase in return on investments from only XAF7 billion in 2017 to XAF20.5 billion in 2021.
Last year, gains from financial investments stood at XAF24.2 billion, thus up by 18% YoY, according to official data from CNPS. They are expected to increase further in 2023 following CNPS’s recent participation in the capital of Chanas Assurances Vie, another public pension fund investment. CNPS has joined the insurance company’s shareholding alongside the National Hydrocarbons Company (SNH), the state’s entity responsible for oil and gas exploration and production. These two state-owned enterprises have also recently offered to buy the assets of British investment fund Actis in ENEO, Cameroon’s power utility.
Established in 2007, the Africa Finance Corporation (AFC) is a pan-African financial institution that addresses the continent’s infrastructure deficit.
Source: Business in Cameroon
29, June 2023
Madonna in hospital due to ‘serious bacterial infection’, tour postponed 0
Madonna is recovering after falling ill with a “serious bacterial infection” that landed her in an intensive care unit for several days, her manager Guy Oseary said in a statement Wednesday.
“Her health is improving, however she is still under medical care,” he said. “A full recovery is expected.”
Oseary said the 64-year-old pop icon’s “Celebrations” tour, due to start July 15 in Vancouver, Canada, was postponed until further notice.
The New York Post’s Page Six website said the pop star was taken to a hospital in the city after becoming unwell.
Her global, nearly sold-out tour was billed as paying homage to Madonna’s more than four-decade long career, and according to her website boasted 84 concert dates.
Stops in the United States were to include Detroit, Chicago, Miami and New York, the city where her storied rise to superstardom began.
She was then slated to continue in Europe, with dates in London, Barcelona and Paris, as well as four dates in Mexico City.
The Grammy-winning megastar behind classics including “Like a Virgin” has asserted incalculable influence over her stellar career as one of music’s top stars.
In his statement on social media, her manager vowed to provide more information when available, including a new start date for the tour and for rescheduled shows.
In 2020 Madonna underwent hip replacement surgery following an injury sustained on her “Madame X” tour.
‘Material Girl’
Born in 1958, the Catholic-educated artist headed to New York in the late 1970s with just 35 dollars in her pocket.
She scraped a living through everything from nude modeling to selling donuts.
Her first big single was “Everybody” in 1982, followed by a string of hits including “Lucky Star,” “Borderline,” and “Holiday.”
The 1984 release of “Like A Virgin” propelled Madonna onto the international stage.
She followed up in 1985 with another disco anthem, “Material Girl.”
Madonna hospitalized for several days, tour postponedThe early 1990s saw her don infamous pointy cone-shaped bras on her “Blond Ambition” Tour in 1990.
She also released a racy book called “Sex,” filled with photographs of sexual acts that was released to accompany her 1992 album “Erotica.”
In the late 1990s her music took off in a new direction, thumping to a new dance-flavored beat on her multi award-winning 1998 album “Ray of Light.”
In 2003 she grabbed the showbiz world’s attention by clinching pop princess Britney Spears in a lingering kiss on stage at that year’s MTV Music Video Awards.
And she still displays the provocative streak for which she is both beloved and notorious.
In January, news dropped of her forthcoming tour in a video nodding to her 1991 documentary “Truth or Dare.”
In the clip, the Queen of Pop plays the classic sleepover game with fellow celebrities, all with risque undertones.
“I am excited to explore as many songs as possible in hopes to give my fans the show they have been waiting for,” she said when announcing the tour.
Source: AFP