Canon Central and North Africa (https://www.Canon-CNA.com), leader in imaging solutions, is pleased to report its most successful experience at drupa 2024, the leading trade fair for the printing and graphics industry.

Despite visitor numbers being down on the 2016 edition, customer engagement, investment and visitor interest in Canon’s offerings saw current and potential customers flocking to the Canon stand to find out how the latest printing solutions and support services from Canon and its technology partners could help to sustainably transform their businesses.  

From a sales perspective, the resultant number of leads and revenue generated far outstripped projections for the event. Canon’s unique vision of print’s ‘power to move’ received significant attention from visitors eager to interact with the hands-on print application showcases. An astonishing 6,000 visitors explored the multi-sensory, immersive experience in The Core that featured World Unseen, an inclusive photography initiative brought to life by extraordinary, elevated prints.

Record-Breaking Interest and Investment

Launched at drupa 2024, Canon’s ‘The Power To Move’ campaign sought to demonstrate the power of print to move people emotionally, achieve positive change, and move businesses forward using Canon’s transformative technologies, expertise, and support. Through curated workflows, Canon displayed its latest enabling technologies with partners, demonstrating real-life customer solutions and inspiring visitors.

In the production printing category, customer investment in Canon’s imagePress v1000 and v900 color series, as well as the varioPRINT mono toner devices, significantly exceeded projected numbers. This strong showing underscores toner’s enduring role as the digital printing technology of choice for many print service providers. With around 35 deals signed at the event, Canon’s commitment to innovation across its entire product range was evident, as sales of the Arizona, Colorado and imagePROGRAF large format options also impressively surpassed expectations. This reflects the popularity and growth opportunities of large format outputs, including applications for interior décor, wallpaper, packaging, and fine art. Canon also showcased the new generation of colorWAVE and plotWAVE printers for CAD applications.

World Unseen Immersive Experience

The stand also presented visitors with a glimpse of Canon’s key collaboration activities, with the elevated prints (printed on the Canon Arizona) of the World Unseen (http://apo-opa.co/4c28izt) exhibition proving to be extremely popular. This exhibition premiered at GITEX Africa in Morocco and will be presented in several African countries throughout 2024, enabling people from across the region to enjoy the immersive experience. The World Unseen (http://apo-opa.co/4c28izt) exhibition invites visitors – blind, partially sighted, and sighted – to experience photography in a unique, innovative, and immersive way. It is a transformative pathway, offering multi-sensory experiences that connect individuals with powerful images and stories through elevated prints, audio descriptions, soundscapes, and braille, fostering inclusivity and deeper appreciation for diverse perspectives.

The power of partnerships

Several collaborative projects were also showcased in the Printworks area, demonstrating how partnerships have the potential to change perceptions and revolutionise the industry:

Creative Futures winner Bower Collective, a UK provider of natural household and personal care products in reusable packaging, illustrated how, when experts from the industry collaborate to develop campaigns, the result is a highly targeted, high-value and successful campaign that meets the complex needs of modern B2C businesses to acquire, nurture and retain business using omni-channel campaigns.
The Publishing 2030 Accelerator, born out of the Future Book Forum, a Canon-led industry community initiative, focused on bringing about meaningful progress on sustainability in publishing globally.
Canon’s support of various charitable partnerships was highlighted, from the UN SDG Book Club African Chapter to UK charity Topic Heroes. During the show, together with its finishing partners, Canon printed and donated around 10,000 books to organisations around the world. The same number of postcards, posters, and brochures were donated to German non-governmental organisations.
In a unique demonstration of how print can be used to meet the modern marketing challenges of retailers, Canon worked with German furniture retailer, POCO to show how programmatic print allows them to reach their target customers and attract them instore through printed products such as wallpaper, window and floor graphics, table tops and furniture liners.
Demonstrating its support for diversity within the industry, Canon also hosted a successful ‘Girls Who Print’ networking event.

“Drupa is a flagship event within the global imaging industry, and Canon was pleased to host 40 of our partners and customers from across North, East, and West Africa, showcasing the breadth of our reach within the African continent, at the 2024 edition. For us, it was an opportunity to engage with our stakeholders and the wider global print community and demonstrate the far-reaching impacts of our market-leading portfolio of technologies. We also had the opportunity to share initiatives designed to impact people’s lives. The diverse nature of our delegation – from industry players in the banking and hospitality sectors, to print providers in the higher education and government sectors – demonstrated the wide range of applications our products are used for,” said Amine Djouahra, B2B Business Unit Director, Canon Central and North Africa.

By highlighting actual use cases and through collaborations with numerous technology partners, Canon demonstrated print’s power to captivate and drive change in various ways. Together with its customers and partners, Canon will continue to innovate and shape the future of the imaging industry with innovative business models and new technologies and services.  

“Canon partners who attended drupa were impressed by the fact that ours was the third most expansive stand at the event. They also expressed appreciation at the opportunity to witness Canon’s entire B2B portfolio in action. Not only were they able to experience the new technology hands-on, but they also saw how innovative Canon is, as well as its strong market presence in comparison to its competitors. The entire experience demonstrated Canon’s unwavering commitment to investing in market-leading technology, reflecting its confidence in the African continent and its potential,”

To find out more about Canon at drupa please see: DRUPA 2024: THE POWER TO MOVE – Canon Central&North Africa (http://apo-opa.co/3yeWlbS).

Distributed by APO Group on behalf of Canon Central and North Africa (CCNA).

Media enquiries, please contact: 
Canon Central and North Africa
Mai Youssef
e. Mai.youssef@canon-me.com

APO Group – PR Agency
Rania ElRafie
e. Rania.ElRafie@apo-opa.com

About Canon Central and North Africa:
Canon Central and North Africa (CCNA) (Canon-CNA.com) is a division within Canon Middle East FZ LLC (CME), a subsidiary of Canon Europe. The formation of CCNA in 2016 was a strategic step that aimed to enhance Canon’s business within the Africa region – by strengthening Canon’s in-country presence and focus. CCNA also demonstrates Canon’s commitment to operating closer to its customers and meeting their demands in the rapidly evolving African market.

Canon has been represented in the African continent for more than 15 years through distributors and partners that have successfully built a solid customer base in the region. CCNA ensures the provision of high quality, technologically advanced products that meet the requirements of Africa’s rapidly evolving marketplace. With over 100 employees, CCNA manages sales and marketing activities across 44 countries in Africa.

Canon’s corporate philosophy is Kyosei (https://apo-opa.co/3yk888J) – ‘living and working together for the common good’. CCNA pursues sustainable business growth, focusing on reducing its own environmental impact and supporting customers to reduce theirs using Canon’s products, solutions and services. At Canon, we are pioneers, constantly redefining the world of imaging for the greater good. Through our technology and our spirit of innovation, we push the bounds of what is possible – helping us to see our world in ways we never have before. We help bring creativity to life, one image at a time. Because when we can see our world, we can transform it for the better.

For more information: Canon-CNA.com

Poised to spearhead a new era of industry growth for Equatorial Guinea, the country’s national oil company (NOC) GEPetrol recently outlined a multi-phase development plan for the Zafiro field, located in the offshore Block B. As a result of the new plan, the company will work towards increasing the flow of production at the field, leveraging its newfound position as operator of the block to bolster production and support economic growth.

As a dedicated NOC committed to utilizing West Africa’s hydrocarbon resources to supply much-needed energy to the population of Equatorial Guinea, GEPetrol will participate as a bronze sponsor during this year’s African Energy Week (AEW): Invest in African Energy 2024 event – taking place in Cape Town from November 4-8. The event brings together global financiers, NOCs, international oil companies and African governments, setting the stage for deals to be signed and developments to kick off.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

GEPetrol’s multi-phase development plan for the Zafiro field is due to begin implementation at the beginning of 2025, with the first phase involving reconnecting selected wells that were previously connected to the Zafiro Producer floating production unit. Meanwhile, implemented in parallel to the first phase, the second phase will involve cost optimization work as well as the optimization of well exploitation and production. The third phase will be implemented later in 2025 and will feature the redevelopment of the Zafiro field, with the plan for this phase currently under discussion.

GEPetrol assumed operatorship of Block B from energy supermajor ExxonMobil earlier this year following the expiration of a production sharing contract (PSC) that existed between the company and the Equatoguinean government. In April this year, GEPetrol awarded international service provider Petrofac a $350 million technical services contract, which will see the company deliver services across onshore support bases; a floating, production, storage and offloading vessel; and a platform on behalf of the NOC for five years. The contract aligns with GEPetrol’s commitment to revitalizing the Zafiro field and will support operations as the NOC aims to boost production in the country.

In addition to its multi-phase development plan, GEPetrol also recently signed PSCs with energy supermajor Chevron and the government of Equatorial Guinea outlining development plans for Blocks EG-06 and EG-11. The PSCs include provisions on minimum investments, exploration programs, sustainable development and state benefits. The contracts also signify GEPetrol and Chevron’s intent to launch a new exploration and production campaign in these blocks, which were previously held by ExxonMobil. The blocks, which are situated in proximity to the Zafiro field, are considered highly prospective and are poised to play a crucial role in reversing a decline in oil production while bolstering the exploration and production sector in Equatorial Guinea.

“GEPetrol has always served as a longstanding ally to ensuring Africans benefit from African resources. The company’s transformation into a competitive operator – reflected in its Block B development plans – signals a strong intention to maximize the development of producing assets in Equatorial Guinea. As a result of their efforts, Equatorial Guinea is well on its way to becoming a major player in the oil and gas game on the continent and worldwide,” states African Energy Chamber Executive Chairman NJ Ayuk.

Distributed by APO Group on behalf of African Energy Chamber.

Public and private sector entities across Southern Africa’s mining sector are intensifying cooperation to enhance the critical mineral value chain for economic growth. In July 2024, Mozambique, Zimbabwe, and Botswana signed an agreement (http://apo-opa.co/3LIS6Z6) to upgrade an existing railway line linking the three countries and to build a new line and a deep-water port in Mozambique. The transnational railway line will be crucial in transporting critical minerals (http://apo-opa.co/4dbJy8W) – including Botswana’s copper, manganese, cobalt, and nickel, Zimbabwe’s platinum, and Mozambique’s graphite – to international markets.

In line with its commitment to advancing cooperation between Southern Africa’s mining associations and stakeholders, the Mining Industry Association of Southern Africa (MIASA) has joined the Critical Minerals Africa (CMA) Summit as a strategic partner. MIASA’s participation underscores the event’s significance in driving Africa’s critical mineral industry growth by uniting regional stakeholders on policy development, technical expertise, investment, and capacity building.

The Critical Minerals Africa 2024 summit on November 6 – 7 serves to position Africa as the primary investment destination for critical minerals. The event is held alongside the African Energy Week: Invest in African Energy 2024 conference (http://apo-opa.co/4dghaCu) on November 4 – 8, offering delegates access to the full scope of energy, mining and finance leaders in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com

“The growing demand for clean energy technologies is increasing the demand for southern Africa’s critical minerals. Cooperation between southern Africa’s mining stakeholders is vital to unlock the region’s full critical mineral potential to drive the global energy transition and the growth of local economies,” states Rachelle Kasongo, Project Director at CMA organizer Energy Capital&Power.

Since 1998, MIASA has fostered collaboration between the SADC mining sector and the private sector, promoting industry prosperity. Uniting Chambers of Mines from 11 countries – including Botswana, DRC, Lesotho, Madagascar, Mozambique, Malawi, Namibia, South Africa, Tanzania, Zambia, and Zimbabwe – MIASA encourages best practices and creates a conducive environment for growth.

Recognizing the importance of cooperation to unlock critical mineral prospects, Southern African stakeholders continue to prioritize regional partnerships. In May 2024, Cape Town investment agency Wesgro (http://apo-opa.co/3M3dGId) and Namibia’s Environmental Investment Fund signed an agreement to advance the development of green hydrogen infrastructure linking the Western Cape and Northern Cape regions of South Africa with the Lüderitz/Windhoek region in Namibia. The project will help boost the use of South Africa’s platinum group metals for green hydrogen applications, enhancing local and regional energy security, decarbonization, and economic growth.

The DRC, Angola and Zambia have intensified collaboration among themselves and with global partners – including the European Union and the U.S. government – to integrate logistics infrastructure and services as part of the Lobito Corridor for optimal transportation of critical minerals to global markets. In July 2024, the Lobito Atlantic Railway consortium – operator of the Lobito Corridor – began operations (http://apo-opa.co/3LLdAER) at Angola’s Port of Lobito, receiving its first cargo vessel carrying 40,500 tons of sulfur for transportation to the DRC and Zambia for mining applications.

South Africa’s Department of Mineral Resources and Petroleum is also exploring critical minerals in South Sudan in partnership with the East African country’s Ministry of Mining. The partnership will strengthen South Sudan’s position in the global critical mineral sector and South Africa’s industry expertise to advance critical minerals mining locally and throughout the SADC region.

At CMA, MIASA will provide an update on the activities of its members, highlighting investment and partnership opportunities for global investors within Southern Africa’s energy transition metals sector.

Distributed by APO Group on behalf of Energy Capital&Power.

Bank One (www.BankOne.mu) gleaned exclusive insight by meeting with the Gulf region’s key financial sector players to understand how Mauritius can form a league with financial institutions in the Middle East to fund impactful projects in sub-Saharan Africa. This is part of the long-term strategy of the bank to expand its footprint and position itself as “Africa’s preferred gateway”.

“At Bank One, we were recently privileged to meet with key players from the Gulf region and explore the financial landscape in the Middle East through an expert eye. This has helped the Bank One leadership team form a nuanced view of what this region means to us, and we are keen to impart insights to other banks or financial institutions who would like to explore this region. Indeed, we view collaboration among various financial sector stakeholders as key to realising the potential of the Mauritius-Middle East partnership” says Thavin Audit, Deputy Head of Corporate and Investment Banking at Bank One.

Looking at the way the global macroeconomic environment is maturing, aligned with how Middle Eastern banks are positioning themselves to embrace the African journey, Bank One believes that the time is ripe for Mauritius to explore deeper affiliations with financial institutions in the Middle East to see how we can best leverage opportunities while bringing our conjoined forces to support sub-Saharan Africa.

Looking out: Why the Middle East is moving into the syndication landscape

The region was unique in seeing positive investor sentiment as captured by Preqin (https://apo-opa.co/4cZCfS6). Indeed, Preqin surveys showed 94% of global investors agreeing that the macroeconomic cycle was ‘starting to decline or near the bottom’, a sharp contrast with just 19% of Middle Eastern investors who agreed with this muted economic stance in February 2023. No doubt, this region has a different narrative—one where sentiment is significantly optimistic, capital continues to flow, and a rising number of global investors are knocking on the doors. 

“While Middle Eastern banks have traditionally been engaged in offering Sharia-compliant products, the excess liquidity such banks are currently encountering has substantial implications for their involvement in syndication and trade finance deals. Indeed, Emirati banks have lately been beating Wall Street at its own game, with a 10-year US$3.25 billion loan having been syndicated by regional banks (https://apo-opa.co/4fq007A) to finance an impactful education sector deal for Dubai’s GEMS. When a consortium led by Canadian fund manager Brookfield was looking for funding for one of the largest private school operators on the planet, it was four Gulf banks who confidently stepped in to help” adds Thavin Audit.

Why Africa is fertile ground for syndication deals

Coming to Africa, there are definitely massive deal flows on the ground to sustain economic growth in the second-fastest-growing region in the world after Asia. The African Development Bank (AfDB) Group highlighted in its latest Macroeconomic Performance and Outlook of the continent that Africa will account for eleven of the world’s 20 fastest-growing economies in 2024. Indeed, the real GDP growth for the continent is expected to average 3.8% and 4.2% in 2024 and 2025, respectively, far outstripping projected global averages of 2.9% and 3.2%, the report emphasized.

“At Bank One, our positioning as a gateway to Africa is primarily enabled by our shareholders’ footprint, with the I&M Group firmly rooted in East Africa. Our investment approach to Africa remains bullish as we invest energy and resources to sustain our edge in the market. Along with other banks in our syndication or our network, we arrange and set up mandates for selected banks, be it in the space of trade loans or factoring deals. We particularly look for syndication partners who are happy to come on-board because of the knowledge we have in, and of, Africa” says Thavin Audit

Why the Middle East and Africa need each other

In the Middle East, it is the region’s flourishing financial landscape that holds the key to its appeal for Africa. Apart from the overall positive economic sentiment in the Middle East, it is the world’s fastest-growing regional market in terms of the banking and capital market sectors. A PwC report notes that the ‘region’s financial services sector is in the midst of a massive overhaul’ with increasingly diverse financial products and services, accompanied by growing regulatory requirements for finer monitoring of processes and developing secure financial systems. No wonder then that banks and financial institutions across the Middle East are investing diligently to match or outstrip their international peers, with commercial banks developing apace and offering easy access to banking credit.

At a broader level, reports abound that Gulf banks presently have more liquidity in comparison with many of their foreign peers mainly due to the higher interest rates in Europe and further afield. As such, they face a pressing necessity to match funding to projects and transactions that constitute economic and geographic diversification. However, Emirati banks looking at emerging economies such as those in Africa need to partner with other banks that have the competence, skill, access, and knowledge of the Hopeful Continent.

What are the focus areas for Middle Eastern banks eyeing Africa

When it comes to sectors of focus for Middle East forays into Africa, we note a concentration of deals in the oil and gas, as well as infrastructure sectors.

First, the oil and gas sector in Africa has immense potential, with the continent’s gas reserves in 2021 estimated at 625.6 trillion ft [3] (https://apo-opa.co/3A2tR5A) which is nearly equivalent to that of the US. Significantly, once a major oil or gas discovery is made, the biggest challenge for African governments and their commercial partners is finding sources of finance to develop projects. However, there is a ready domestic market for such output, with the Gas Exporting Countries Forum (https://apo-opa.co/4fq01sa) noting that the demand for energy in Africa is expected to rise 82% by 2050 with natural gas making up 30% of their energy mix.

Secondly, if you look at the pace of infrastructure development on the continent based on rising deals in transport, energy, and telecommunications, there is a huge demand for funding in these areas. The AfDB notes that the demand for adequate infrastructure — secure energy, efficient transport, reliable communication systems, resilient sanitation, and affordable housing — is particularly prominent in Africa. Soberingly, when it comes to infrastructure in Africa, bridging the financing gap is a major challenge, with the AfDB  (https://apo-opa.co/4cZChJI) estimating between US$130 billion and US$170 billion required for infrastructure development each year. This leaves a yawning gap of around US$100 billion (https://apo-opa.co/4fq01IG) and one that Development Finance Institutions (DFIs) alone would struggle to fill.

The way forward: How Mauritius can support the Middle East’s efforts in Africa

In February 2024, the UAE was removed from the grey list after 2 years of being on the FATF’s radar, signifying its commitment to combatting money laundering and terrorist financing. This development is likely to boost investor confidence in the UAE’s regulatory framework, and it is expected that this move will be accompanied by greater foreign capital inflows and reduced compliance costs and costs of borrowing. At Bank One, we welcome this development and have seen Middle Eastern banks confidently looking to channel funding into Africa based on our recent visits to the region.

Finally, in terms of strategic partnerships as well, there are promising talks of key DFIs joining forces with financial institutions in the Middle East. Recently, the AfDB, European Investment Bank (EIB), and the OPEC Fund for International Development (OFID) announced support for the African Capitalization Fund, a new private equity fund to be created by the IFC’s Asset Management Company (AMC). The Fund will seek to capitalize on systemically important private sector commercial banking institutions in Africa to spur economic recovery and job creation. Hearteningly, the Abu Dhabi Fund for Development (ADFD) also announced that a commitment to the fund is under due consideration.

Last but not least, systemic efforts are being made to stimulate investments from the Middle East to Africa. With a Comprehensive Economic Partnership Agreement being signed between Mauritius and Dubai which was announced in December 2023 as the first of its kind between the Emirates and an African country, Bank One is keen in exploring the full potential of such a landmark agreement. It was widely reported at the time that this agreement will pave the way for increased trade, investment, and private-sector cooperation between the countries, and we would like to explore with the right partnerships how such economic cooperation can be realized on the ground – with a focused eye onto Africa.

Distributed by APO Group on behalf of Bank One Limited.

For media inquiries, please contact:
Ali Mamode
Head of Marketing&Communications 
Tel: +230 202 9200, +230 5713 5924 
Email: ali.mamode@bankone.mu

Virginie Couronne
Senior Communication&Content Specialist 
Tel: +230 202 9200, +230 59042515
Email: virginie.appapoulay@bankone.mu

About Bank One Limited:
Bank One is a joint venture between CIEL Finance Limited in Mauritius and Kenya-based I&M Group PLC. Over the last decade, it has built a client base of over 50,000, a dedicated team of over 425 experienced collaborators, and an asset base exceeding MUR 46 billion. Bank One provides a wide range of banking products and services to its clients through a geographic footprint spread across the island of Mauritius, comprising 7 branches and a well-distributed ATM network. As the financial landscape in sub-Saharan Africa continues to evolve, Bank One is determined to play an active role in supporting individuals, businesses and communities through continuous innovation and value addition. Bank One has deep development finance institution relationships and long-term funding lines in place with the German Investment Corporation (DEG), the International Finance Corporation (IFC), and the French Development Agency (Proparco). Bank One has been rated ‘BB-‘ with a Stable Outlook by Fitch Ratings.