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Business News

South African billionaire appointed as the 7th CAF President

Dr. Mostepe becomes the first-ever South African to lead the organisation since its inception.

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South African business mogul, Dr Patrice Motsepe elected as the President of CAF at the 43rd CAF General Assembly held on 12th March 2021 in Rabat, Morocco.

Dr. Motsepe becomes the first-ever South African to lead the organisation since its inception. He also becomes the seventh (7th) person to occupy the position of CAF President. His tenure would last for four years after he was elected unopposed to replace the outgoing Ahmad Ahmad, whose tenure was clouded with allegations of financial wrongdoing and misconduct.

Going to the General Assembly, there were three other candidates apart from Dr. Mostepe. Senegal’s Augustin Senghor, Ahmed Yahya of Mauritania and Ivorian Jacques Anouma were also vying for the position of the CAF President.

READ: CAF President banned for 5 years for breaching FIFA Code of Ethics

Dr Motsepe’s first words upon his election as CAF president were, “I thank my brother Gianni, for the vision and the encouragement of unity. We can only deal with the challenges of Africa when we are united.”

In his first address as the CAF President, he said the following:

“I’m very excited. There is a great deal of urgency of getting things done. There is a going to be a lot of work and a lot of running. We have to make sure that African football is not just competitive but globally successful. Africa spends millions of dollars every year paying for tv rights of leagues outside Africa. There is a need to build our own products and we will succeed.”

READ: Billionaire, Uzor Kalu wants to buy 35% stake in Arsenal FC

“The face of African football will never be the same again. 95% of our conversations will be about football and that is fine but there must be that 5% where we discuss the importance of the private sector partnerships. We need to restore the pride, the dignity and the respect of Africa.” 

The supreme body of CAF also approved the increase in the number of Vice-Presidents from three to five in order to ensure better representation of all the components of CAF within the Bureau of the Executive Committee among other things approved.

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READ: Arsenal star, Aubameyang fined $10,000 by CAF for social media posts

What you should know about Motsepe

  • Dr. Motsepe, 59, is a South African billionaire and was ranked 9th in the top 10 African billionaires by Forbes.
  • He has a net worth of $3 billion, he is also the founder and chairman of African Rainbow Minerals who deal in mining.
  • He is no stranger to the footballing world as he has been the President of a South African club, Mamelodi Sundowns for almost two decades now.

READ: Paris Saint-Germain Fan Crypto gains over 50% in a day

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Appointments

Standard Bank Group appoints Yinka Sanni as new Chief Executive of Africa Regions

Yinka Sanni has been appointed as Standard Bank Group’s Chief Executive of Africa Regions.

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Stanbic IBTC declares N10.4 billion interim dividend

The Standard Bank Group has announced the appointment of Yinka Sanni as the new Chief Executive of Africa Regions.

This announcement was made by the Group in a post shared via its official LinkedIn account. The bank revealed that Sanni will be replacing Sola David-Borha who is retiring after 31 years of distinguished service to the group.

His appointment will play an integral role in driving the growth of the Standard Bank Group in Africa further in the years ahead.

He is expected to build on the work of David-Borha, a renowned professional who played a key role in growing the Group’s Africa Regions portfolio in terms of capacity, market share and contribution to the group’s headline earnings.

What you should know

  • Yinka Sanni is a Fellow of the Chartered Institute of Stockbrokers of Nigeria.
  • He has served in key positions within the Stanbic Group, as the Chief Executive of Stanbic IBTC Holdings PLC, Chief Executive of Stanbic IBTC Bank PLC, Deputy Chief Executive of the Bank and Executive Director, Corporate & Investment Banking of the Bank.
  • He was also the pioneer Chief Executive, Stanbic IBTC Pension Managers Limited and the pioneer Chief Executive, Stanbic IBTC Asset Management Limited.

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Corporate Press Releases

P2P crypto marketplace, Bitzlato (BZ) partners with Lemonade Finance to ease money transfers across Africa

The partnership will enable users on the BZ platform to buy and sell bitcoins and other cryptocurrencies on the marketplace at zero cost.

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Bitzlato (BZ), the latest P2P Crypto Exchange to enter the African market, has added Lemonade.Finance, a borderless payment platform for Africa, as a payment method to its platform.

Lemonade Finance provides 100% digital payment experience for Africans to seamlessly participate in the global economy from anywhere in the world without any hassle or regardless of where they are from.

The partnership will enable users on the BZ platform to buy and sell bitcoins and other cryptocurrencies on the marketplace at zero cost.

Users in Nigeria will now be able to send Nigerian Naira (NGN) to MPESA at 0% transaction fee.

Speaking about this partnership, Ridwan Olarere, CEO, Lemonade Finance, said:

“We are excited to partner with such an innovative company like Bitzlato to connect more Africans through payment. Many Africans living on the continent face many difficulties when making payments as remittance companies charge high fees and are time-consuming. We are now providing our users with a cost-effective way of sending money to Ghana, Kenya, Uk and Europe.”

Commenting on the opportunities this provides to crypto traders on the BZ platform, Mike Lunov, CEO, BZ, said:

“This partnership will provide a much-needed gateway that enables the markets we serve to seamlessly interact with each other in a borderless and open environment. We seek to break the barriers that presently exist for cross border transfers and enable our users to generate value through the opportunities that accrue from cryptocurrencies trading. The innovation exhibited by the Lemonade platform, and the brilliance of its team assures users of top-notch, secure and reliable transfers going forward.”

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According to BZ, during the first month, BZ will refund commissions in manual mode while using Lemonade Finance, but this will be automated at the end of this period.

Following this partnership, BZ is now looking to partner with merchants in the crypto space especially in Nigeria, Ghana, South Africa that have a steady flow of Nigerian Naira (NGN) to increase liquidity on the platform.

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Take advantage of the new Lemonade Finance payment method on BZ, which offers zero transactional fees for money transfers from Nigeria into Kenya. Sign up on BZ and start trading crypto easily today.

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