<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/07/JJ-Photo-2-820x547.jpg" alt="" class="wp-image-418625" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/07/JJ-Photo-2-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/JJ-Photo-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/JJ-Photo-2-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/JJ-Photo-2-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/JJ-Photo-2-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/JJ-Photo-2-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /></figure>



19 July 2022;&nbsp;Imperial, owned by DP World, announced today that all the requirements relating to its 100% acquisition of J&amp;J Group, the largest integrated logistics operator on Mozambique’s Beira corridor, have now been fulfilled.



The transaction relating to the acquisition of the first tranche of shares (51%) of the J&amp;J Group, which was announced on 29 July 2021, was closed on 18 July 2022. This will be followed by the acquisitions of the second and third tranches of 46.5% and 2.5%, respectively.



J&amp;J Group offers end-to-end logistics solutions along the Beira and North-South corridors, specialising in the transport of break-bulk, containerised, project, fuel and out-of-gauge cargo between Mozambique, Zimbabwe, Zambia, South Africa, Malawi and the Democratic Republic of the Congo.



Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said: “This acquisition strengthens DP World’s position as an end-to-end logistics provider, by adding J&amp;J’s significant presence along these key corridors in Africa – a market where trade is expected to grow at more than twice GDP driven by population growth, accelerated urbanisation and rising middle classes.”



Mohammed Akoojee,&nbsp;Chief Operating Officer of DP World Logistics and Group CEO at Imperial&nbsp;added: “This acquisition complements our ‘Gateway to Africa’ focus as it optimises and expands our reach in Africa by providing scale in end-to-end cross-border transportation services in key countries and new industries. This is possible through well-established routes, port capabilities, a well-developed asset base, including a fleet and warehousing space, as well as an entrenched customer portfolio.”



Through the acquisition of the J&amp;J Group, Imperial will be positioned for quicker go-to-market outside of South Africa and end-to-end access to certain key countries and corridors (port to customer) in Africa.



“We are excited for J&amp;J to partner with Imperial and believe that the operations of these two businesses are very complementary. This combination offers existing and potential J&amp;J clients a true gateway to Africa,” explained Carlyle and Ethos Private Equity, currently the controlling shareholders of the J&amp;J Group.



DP World has been growing its business in Africa, being a key growth region that offers many opportunities for further development in the ports and logistics sector, trade corridors, eCommerce, and others. Africa is centrally positioned to fit into the global trade and supply chains, and the development of trade corridors and port infrastructure is critical to connect the continent to drive economic growth and development. DP World operates nine ports and terminals across 8 countries in Africa – Algeria, Angola, Egypt, Mozambique, Rwanda, Senegal, Somaliland and South Africa.



About Imperial:



Imperial is an Africa-focused provider of integrated market access and logistics solutions. With a focus on the following key industries &#8211; healthcare, consumer, automotive, chemicals, industrial and commodities &#8211; we take our clients’ and principals’ products to some of the fastest growing and most challenging markets in the world. As a leading global logistics provider, we seek out and leverage new technology to deliver innovative, end-to-end solutions. Through our significant African footprint and international expertise, and with the support of our 25,000 people, Imperial’s purpose is to connect Africa and the world &#8211; and to improve people’s lives with access to quality products and services. Imperial became a wholly owned business of DP World in March 2022. For more information:&nbsp;<a href="http://www.imperiallogistics.com/" target="_blank" rel="noreferrer noopener">www.imperiallogistics.com</a>



About DP World:



We are the leading provider of worldwide smart end-to-end supply chain logistics, enabling the flow of trade across the globe. Our comprehensive range of products and services covers every link of the integrated supply chain – from maritime and inland terminals to marine services and industrial parks as well as technology-driven customer solutions.



We deliver these services through an interconnected global network of 295 business units in 78 countries across six continents, with a significant presence both in high-growth and mature markets. Wherever we operate, we integrate sustainability and responsible corporate citizenship into our activities, striving for a positive contribution to the economies and communities where we live and work.



Our dedicated, diverse and professional team of more than 97,600 from 158 nationalities are committed to delivering unrivalled value to our customers and partners. We do this by focusing on mutually beneficial relationships – with governments, shippers, traders, and other stakeholders along the global supply chain – relationships built on a foundation of mutual trust and enduring partnership.



We think ahead, anticipate change and deploy industry-leading digital technology to further broaden our vision to disrupt world trade and create the smartest, most efficient and innovative solutions, while ensuring a positive and sustainable impact on economies, societies and our planet.



About J&amp;J Group



The J&amp;J Group is the largest integrated logistics operator on Mozambique’s Beira corridor. The company has an extensive cross border fleet which is supported by a network of trucking depots in Mozambique, South Africa, Zambia and Zimbabwe. In addition to its trucking offering, the J&amp;J Group provides its clients with access to its 95,000m2 container terminal and a further 45,000m2 of warehousing space in Beira. The company transports a range of commodities such as fertilizer, chemicals, tobacco, cotton, sugar, fuel and minerals. Should clients require it, the J&amp;J Group is also able to transport “out-of-gauge” and project cargo such as heavy mining equipment.

JJ-Photo-2

Imperial obtains approval for acquisition of 100% stake in J&J Group

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="545" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/07/FX8v0Z_WQAAL4vj-820x545.jpg" alt="" class="wp-image-418553" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/07/FX8v0Z_WQAAL4vj-820x545.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/FX8v0Z_WQAAL4vj-300x199.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/FX8v0Z_WQAAL4vj-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/FX8v0Z_WQAAL4vj-768x511.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/FX8v0Z_WQAAL4vj.jpg 1170w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>UBA Group Expands To EMEA, Launches Banking Operations In Dubai International Financial Centre, Dubai DUBAI, UNITED ARAB EMIRATES – JULY 14: In this handout image provided by APO Group; L-R: Executive Director, Treasury and International Banking, United Bank for Africa(UBA), Mr. Ndubisi Chiugo; Chief Executive Officer, Dubai International Financial Centre(DIFC) Authority, Prince Arif Amiri; Group Chairman, United Bank for Africa(UBA), Mr. Tony O. Elumelu; Governor, Dubai International Financial Centre(DIFC), His Excellency Essa Kazim; Group Managing Director/CEO, United Bank for Africa(UBA) , Mr. Kennedy Uzoka; and Managing Director, UBA(DIFC), Mr. Vikrant Bhansali poseat the official launch of UBA (DIFC), in Dubai, United Arab Emirates(UAE) on Thursday 14th July, 2022 in Dubai, United Arab Emirates The UBA branch in the DIFC will service corporate &amp; financial Institutions and customers across the Middle East with a core focus on correspondent banking, relationship management and advisory services. Access the full release: https://bit.ly/3RJeC5M (Photo by APO Group via Getty Images)</figcaption></figure>



JOHANNESBURG, July 18 (Reuters) – Nigeria’s United Bank for Africa (UBA) said on Monday it has expanded into the Middle East, setting up operations in the United Arab Emirates.



The new branch located in the Dubai International Financial Centre will serve customers across the region and focus on correspondent banking, relationship management and advisory services, UBA said in a statement.



UBA Group Chairman Tony O. Elumelu said the new UAE branch would enable trade finance and investments between the Middle East and Africa.



“We have been looking forward to this day as it is the first time we will have presence in this part of the world. We know that our international expansion is incomplete if we are not present in the Gulf,” he said.



UBA already operates in 20 African countries, Britain, France and the United States. 



(Reporting by Joe Bavier; Editing by Susan Fenton)

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Nigeria’s United Bank for Africa expands into Middle East

<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/Screenshot-2022-06-22-at-16.14.24.png" alt="" class="wp-image-418029" width="758" height="542" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/Screenshot-2022-06-22-at-16.14.24.png 758w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/Screenshot-2022-06-22-at-16.14.24-300x215.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/Screenshot-2022-06-22-at-16.14.24-126x90.png 126w" sizes="(max-width: 758px) 100vw, 758px" /><figcaption>Shaheenah Dawood</figcaption></figure>



There’s laughter in the breast cancer ward.



Shaheenah Dawood is in her bright sunny office wearing a lab coat, a floral dress and a smile that can make anyone feel welcome and well.



The only thing that is infectious here, in these corridors at the Mediclinic Parkview Hospital in Dubai where we meet, is her energy.



Working 7AM to 10PM seeing cancer patients and giving them care and cure, this Consultant Medical Oncologist and Professor of Clinical Oncology can’t afford to not be that ray of light and hope, and to the care-giving staff around her as well – such as during the lockdown in 2020, when she ordered cheerful pink, blue and yellow scrubs and PPE for those in her department.



But the Emirati doctor’s 24-page CV and the assortment of papers, accolades and awards to her name apart, there is passion in her voice, and serious purpose to her work.



“I always knew oncology is what I wanted to do,” begins Dawood. “And for several reasons. One, I’m a chatterbox, and I could talk as much as I wanted to these patients; the people you’re going to form long-term relationships with. Two, if you get a patient with cancer early on, you can cure them, and the satisfaction you get from curing that one patient, there’s nothing like it… The last decade has been truly exciting in the field of oncology more than any other specialty.”



Typifying everything the United Arab Emirates (UAE) aims to be in the realm of healthcare for the world, with the glistening city of Dubai becoming the hotbed of healthcare innovation and medical tourism in recent years, Dawood is at the forefront of leading that change, with research, clinical trials, personalized medicine and breakthroughs in oncology to vastly change patient outcomes.



She trained in medical oncology at McGill University Hospitals in Canada, sub-specialized in breast cancer management at the MD Anderson Cancer Center, served as an Editorial Fellow at the New England Journal of Medicine and has an MPH degree from the Harvard School of Public Health.



She could have stayed on in the United States but decided to return home more than a decade ago to become one of the first female oncologists at the time in the UAE, and make a difference.



“I think the UAE, with our leader, is just unbelievable in the way it has put women out there in the healthcare sector. I came in with so many ideas that the first thing I did was put those ideas aside, and say ‘I need to develop something here that’s accommodating to the people here’. I became the head of oncology at Dubai Health Authority, but there was a lot of work to do.



“I developed multidisciplinary tumor boards and comprehensive cancer care programs, working with an excellent group of people. And then I decided to break off and do something other than just clinical work, so I started the Excellence in Oncology Care Summit, which started off with 120 people, and last year, we had 4,000 attending virtually as well as in-person from across Southeast Asia, the Middle East and Africa.”



The list goes on, and Dawood is now heading and establishing the oncology clinical trials program at Mediclinic City Hospital that will allow patients in the Middle East to access drugs they would otherwise not have been able to.



“Tests are horribly expensive, everywhere around the globe… There is data that compared to any other specialty, oncology medications cost the most… We need to have better access to treatment, and one of them is trying to overcome the cost… And we need to start addressing it seriously to be able to offer the same type of care to everyone, irrespective of their financial situation…



“I had a patient from Africa, I can tell you he sold his land to come here and get the medication. I have a lot of patients from Nigeria and Eritrea. We do hear their stories..,” says Dawood, her voice laced with concern but also hope.



In addition, she spends her time teaching at the Mohammed Bin Rashid University Of Medicine and Health Sciences and working with PhD and medical students on their research initiatives.



“The only thing that I keep telling the newer generation,” says the 40-something game-changer in the medical sector, “is that you can achieve what you set your mind to achieve by working hard, and that no problem is without a solution.”



Heartening words indeed in the world of cancer care.

The doctor spearheading change in cancer care in the UAE

DUBAI, May 25 (Reuters)&nbsp;&#8211;&nbsp;Dubai&#8217;s Emirates Central Cooling Systems Corporation (Empower) has invited investment banks to pitch for roles in its planned initial public offering, which is slated for later this year, two sources with direct knowledge of the matter said.



Empower, which is part owned by&nbsp;Dubai&nbsp;Electricity and Water Authority (DEWA)&nbsp;DEWAA.DU, has asked banks to pitch for joint global coordinator roles and respond by next week, said the sources, declining to be named as the matter is not public.



The request was made by Moelis &amp; Co&nbsp;MC.N, which is acting as financial advisor on behalf of Empower, they said.



Empower and DEWA and Moelis did not immediately respond to requests for comment when contacted by Reuters on Wednesday.



District cooling firms deliver chilled water via insulated pipes to cool offices and industrial and residential buildings.



Dubai&#8217;s deputy ruler, Sheikh Maktoum Bin Mohammed, in November announced plans to take 10 government-linked companies public to boost stock market activity. The ruler named Empower as part of those plans in December.



The listing plans also aim to help the&nbsp;Dubai&nbsp;stock market compete more effectively with bigger exchanges in the region, such as those in Saudi Arabia and neighbouring Abu Dhabi.



Gulf issuers have raised $8.76 billion from IPOs so far this year, Refinitiv data shows, exceeding European flotations even as global markets remain volatile in the wake of the conflict in Ukraine.



Gulf markets are highly correlated with oil prices, with Brent crude trading at more than $110 a barrel.



DEWA in April raised $6.1 billion from investors for its IPO, the largest across the region since Saudi Aramco&#8217;s world record $29.4 billion public share-sale.



(Reporting by Hadeel Al Sayegh; Editing by Kirsten Donovan)

Dubai Marina from the sea side during sunset

Dubai cooling firm Empower invites banks to pitch for IPO -sources

It has been a month since the six-month Expo 2020 Dubai drew to a close, but some thoughts linger, some concepts stay and some flavors remain.



In the diverse melting pot that is Dubai, home to as many as 200 nationalities, Africa had its moment under the Arabian sun, in a two-floor facility opposite the central Al Wasl Dome that anchored Expo 2020 Dubai.



By the landmark waterfalls at the expo site, this 22,000sqft facility threw its doors open to a composite and immersive African gastronomic experience led by world-renowned African chefs.



This creative confluence, Alkebulan, an African dining hall, was a magnet through the expo – apparently a million clients and customers passed through the sprawling outlet with its colorful contemporary outdoor terraces and indoor spaces.



And Chef Alexander Smalls, a restaurateur and award-winning author based in New York, is the man who brought the bespoke chef-led concepts of Alkebulan under one roof.



When we meet Smalls at the venue, he is wearing bright yellow-rimmed spectacles and a big smile.



He had dreamed up the concept many years ago, and can’t conceal his excitement at seeing it as a reality with the help of the team at Expo 2020 Dubai.



“We have created a whole environment that contains the food of Africa and speaks to the African diaspora. I have put together a collection of extraordinary chefs who have reimagined African cuisine for the new age and it’s the first African dining hall in the world and it has been received so well,” enthuses Smalls.



The success of this outlet will lead to more in New York and London, he says, and set off a global expansion for&nbsp;Alkebulan.



“It speaks to the wealth of African cuisine and its people. We are having a revolution,” he adds.



A lot of the work was conducted during the pandemic, through video calling and a team on the ground who were Smalls’ eyes and ears.



“We created nine food concepts and two bars. I created all the concepts myself, but then for the authenticity, I needed to bring in culinary practitioners from around the world who were doing what I was, and bring special talent to make it a unique concept.”



But with 54 countries on the African continent, how difficult was it recreating all of those culinary experiences?



“It was extremely challenging,” admits Smalls. “At one point, I stopped thinking about 54 countries and started thinking about essentially the topical conversations around African food. The net had to be cast broadly, but they all have their particular footprint. The idea was to mirror the landscapes we are in… It was the&nbsp;perfect time to bring back the authenticity of Africa. It has given us an opportunity to enlighten and inspire and have people’s mindsets change about the African experience.”



Amongst the guest chefs presenting their offerings: TV personality Kiran Jethwa, Chef Coco, Mame Sow, Glory Kabe and Pierre Thiam.



Thiam, also a cook book author, chips in.



Originally from Senegal and having lived in the US for three decades where he has two restaurants in New York and a food company directly connected with farming communities across West Africa “through products relevant in times of climate change”, he calls himself a restaurateur, chef and social entrepreneur.



“Dubai has been incredible,” Thiam begins. “What Chef Alexander has realized here is telling the story in a more complete way and that to me is part of my mission being West African. Just the name, Alkebulan, takes us to the time before colonization. That’s that we are doing. We are more than just serving food – we are serving the whole, we are telling our own story.”



He says he studied West African cuisine and specialized in “the food of our memory” realizing that African cuisine was quite absent.



“This is the most successful of all venues at the Expo. This is telling the truth to the Dubai population,” says Thiam, who cites his roasted beans pickle carrot salad as being one of the most popular dishes at the event.



Also on the table, modern African street food, and such varieties as oxtail fried rice, Afro dim sum, barbecue goat ribs, buttermilk fried chicken, rotisserie duck and devil quail.



Chef Sow, one of the female guest chefs at Alkebulan and also originally from Senegal and living in New York, had African sweets on the table: “We are mostly wanting to showcase and represent Africa with the desserts and flatbreads we do. People don’t generally think about Africa when they think desserts. We have a lot of amazing ingredients we are showcasing through the desserts we have at Shoebox.”



This is Sow’s first trip to Dubai, as a sous chef and the owner of Shoebox Bakery in New York, adds that the female chefs working with her are “beyond amazing”.



And what will now happen to the dining hall that took center stage at Expo 2020?



“This outlet will remain and the transition [of the expo site] from amusement park to a bustling residential retail business community will take form and we will come back after the summer,” promises Smalls.

An outlet within Alkebulan selling African cuisine to the world; image by Renuka Methil

Chefs Speak: Africa On A Plate Meets The Melting Pot Of Dubai

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/Getty-1536x1024-1-820x547.jpg" alt="" class="wp-image-416226" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/Getty-1536x1024-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/Getty-1536x1024-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/Getty-1536x1024-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/Getty-1536x1024-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/Getty-1536x1024-1.jpg 1536w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Christina Aguilera performs during the Closing Ceremony Held For Expo 2020 Dubai at Al Wasl Dome on March 31, 2022 in Dubai, United Arab Emirates. The world&#8217;s fair was postponed from its original date of October 2020 due to the Covid-19 pandemic. The Closing Ceremony celebrates historic six months with performances by Christina Aguilera, Norah Jones and Yo-Yo Ma. (Photo by Francois Nel/Getty Images)</figcaption></figure>



FORBES AFRICA was at Expo 2020 Dubai to witness the tech-filled finale of the multi-billion-dollar, 182-day global event that also brought all of Africa.



The party was on for six months.



And on a balmy night, under a gold dome in a grand spectacle of sound and light that saw hundreds of performers and several thousand diverse and starry-eyed visitors, the curtain came down on the Expo 2020 Dubai that brought through its gates an estimated staggering 23 million visitors.



The closing ceremony of the world gala in the UAE emirate last night (March 31), had thousands of visitors streaming in well into the wee hours for the live shows, fireworks and pyrotechnics.



Tech reigned.



Even as Grammy award-winning singer and headline crowd-pleaser Norah Jones said it’s her first trip to Dubai and dazzled in a grey sequinned dress at the piano singing the soulful&nbsp;Come Away With Me, and as thousands thronged every inch of space on the walkways – dodging baby strollers and e-scooters – to hear global pop sensation Christina Aguilera, the true star of the show was the Al Wasl gold dome, the all-rounder of the mega event.



The intricate lattice dome’s eye-popping technical specs? At 67.5 meters tall and comprising 13.6 kilometers of steel, it weighs 2,544 tonnes – “as much as 25 blue whales”. And under it, a sea of humanity gazing at an immersive 360-degree projection system with giant fabric screens.



At the closing event, the baton was handed over to the Japanese city of Osaka, where the next expo will be held in 2025.



The UAE, which celebrated its 50th&nbsp;year during the expo and changed its weekend to Saturday and Sunday in keeping with the West, is home to multiple nationalities. The expo, delayed by the coronavirus pandemic, is being seen as “the start of a new beginning”.



Africa was well-represented too. The colorful African stalls in the world souq areas were quite the magnet for crowds, with hand-woven African baskets and print sandals selling at Dhs100 ($27) a piece.



The African Union pavilion located within the Opportunity District at the expo site spoke to the Agenda 2063 aspirations of the continent and strengthening trade links between the Middle East and Africa.&nbsp;



“It’s been a great experience,” says Coumba Dioukhane, a spokesperson at the Côte d’Ivoire pavilion, even as crowds queue up around us to get their expo passports stamped by the West African country.



“We were able to showcase the Ivory Coast from an economic, social and cultural point of view; this was an opportunity to show to the whole world where we are, and the investment opportunities we have.”



Similar sentiments at the Sierra Leone pavilion.



The salesman at the store inside points to the python skin for sale and a crocodile skin handbag selling for Dhs1,500 ($408). “But you know we also have gold and diamonds,” he says with a glint in his eye. “Our country was hidden but not anymore. The last six months here in Dubai have been incredible.”



South African President Cyril Ramaphosa had also been at Expo 2020 Dubai, at his country’s pavilion three days before the finale, calling it “a seminal event… as we strive to recover and rebuild in the wake of the pandemic”.



Some enduring connections for Africa in this glistening city in the desert.

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World Fair Ends With Festivities, Pyrotechnics And High Tech

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="605" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/03/Bijan-Alizadeh-pic-supplied-2-820x605.jpg" alt="" class="wp-image-416100" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/03/Bijan-Alizadeh-pic-supplied-2-820x605.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/03/Bijan-Alizadeh-pic-supplied-2-300x221.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/03/Bijan-Alizadeh-pic-supplied-2-122x90.jpg 122w, https://cms.cnbcafrica.com/wp-content/uploads/2022/03/Bijan-Alizadeh-pic-supplied-2-768x567.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/03/Bijan-Alizadeh-pic-supplied-2.jpg 1065w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Bijan Alizadeh, Founder of Cypher Capital</figcaption></figure>



It’s difficult to write what you call a complete story on any entrepreneur in the blockchain ecosystem. Theirs is an evolving tale that needs updating every day, just like the space they are in.



“You need to be up-to-date, as the blockchain space is growing at lightning speed,” affirms Bijan Alizadeh, the founder of Dubai-based venture capital (VC) firm Cypher Capital, which has just announced that it’s launching a $100 million seed fund aimed at investing in digital assets including crypto currencies.



Cypher Capital, which is four months old and currently a team of 25 with seven analysts looking into more than 120 projects, has $10 million in assets under management, and in the next three years, aiming for over $1 billion before raising money from institutions. &nbsp;



“We want to build a solid track-record,” says Alizadeh.



A Dubai resident for over 20 years, he “self-funded” Cypher Capital, which will invest in blockchain projects, and as he reiterates in a Zoom interview with CNBC Africa, “also invest in talent within the Middle East and North Africa (MENA) region”.&nbsp; &nbsp;&nbsp;&nbsp;



Alizadeh has an interesting story to tell you about what stoked his interest in the blockchain space in 2014. After studying electrical engineering at the American University in Dubai, along with his business partner, Munaf Ali, he was working on real estate projects at the time, and was in the hotel sector, one day, trying to sell a unit to a customer who said he will pay in bitcoin.



“And I said ‘what coin’?” says Alizadeh.



That was the moment their life and vision changed, and they never looked back.



“At the time of this incident in 2014, bitcoin was around $270. We decided to receive that transaction in bitcoin, and after one year, bitcoin started moving up and we looked at the technology and we said this is the future. It still is. We consider 95% of our portfolio is blockchain-focused.”



In 2015, they went on to found Phoenix, in the bitcoin mining space and which is still active.



Alizadeh calls Cypher Capital “his baby”, and a most exciting space to be in.



“In a traditional VC firm, you are running a sort of high-risk, high-reward business, but once you add the element of blockchain to it, it becomes 10 times more risky and more rewarding.



“In a traditional VC, you look at 20-30 projects a year, here, you have new ideas coming in every day, and amazing talent and everything in real life that they can bring to blockchain.



“It’s a lot more work, and we need to be more focused and it’s time-consuming, but at the end of the day, we are all helping to bring the ecosystem to the next level.”



Cypher Capital’s main focus is also mentorship. So to hand-hold young startups, the company is now building a 10,000sqft digital and crypto hub at JBR in Dubai that’s set to come online shortly this year.



“A lot of startups raising money need help, and a back office. We come in, and help projects to come together, share ideas, and synergise. It will be free of charge for startups; the idea is not to make money but to give back to the community,” says Alizadeh.



After all, Dubai has made so much happen in this space.



“In my mind, the United Arab Emirates (UAE) is one of the three biggest hubs when it comes to blockchain, the others being Miami and Singapore. The rules and regulations that are coming to effect by the UAE government and its leadership will essentially make the UAE the center of blockchain. There are more than 350 blockchain companies operating here and that number is growing day by day.”



He is also planning to take the hub to Singapore, Miami and hopefully Africa in the future, a continent he is watching closely.



“In Africa, a lot of countries have problems with payment solutions, especially in the remote areas, so blockchain can help be a solution for a lot of challenges. Africa is an emerging market and once the opportunity arises, we will jump in. We are constantly monitoring which jurisdiction to set up in.”



The company is also actively looking at projects in the GameFi, DeFi and Metaverse space.



“We have made over 12 investments in the last three months, but the most notable that will change the game will be Cross The Ages – I really believe that this is the game that you really want to play plus you make money on it. I am really trying to bring users to play this game because once you do, your whole view of GameFi will change,” Alizadeh promises.



For now, to make all this happen, the 35-year-old works long hours in five different jurisdictions and time zones.



“I call myself an old soul,” he laughs. “When you work 18-19 hours a day, 35 is an actual 50.”



Any advice for young people who have to work multiple time zones in a distributed, remote working world?



“My advice is that nothing is easy. You need to hustle. You have to dedicate your time and energy, but at the same time, take care of yourself. You may have the talent and the brains but work really hard to achieve!”



Ends

Bijan-Alizadeh-pic-supplied-2

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Presidents of Mozambique and Congo, Vice President of Zimbabwe and more than 30 African ministers and other influential leaders among confirmed attendees for the sixth edition of GBF Africa.



Dubai, UAE – Heads of state, plus more than 30 ministers, high-ranking government officials and prominent influential business leaders from Africa have confirmed their participation for the sixth edition of the Global Business Forum Africa (GBF Africa), which takes place on October 13-14, 2021, at Dubai Exhibition Centre, Expo 2020 Dubai.



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Dubai Chamber is organising GBF Africa 2021 in partnership with Expo 2020 Dubai under the theme “Transformation Through Trade”. The high-level event is being held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime 



Minister of the UAE and Ruler of Dubai. The forum aims to build bridges between UAE and African business communities and explore untapped trade and investment potential.



Taking part in the discussions will be heads of state and government officials, including H.E. Filipe Nyusi, President of Mozambique, H.E. Felix Tshisekedi, President of Congo, and H.E. Dr C.G.D.N. Chiwenga, Vice President of Zimbabwe.



They will be joined by the Chief Minister of Jersey and more than 30 ministers and high-ranking African officials, including five ministers from Ghana, four from Angola, six from Ethiopia, two from Uganda Zimbabwe and Liberia respectively, along with ministers from Kenya, Botswana, Côte d’Ivoire, Mauritius, Mozambique, Namibia, Niger, Senegal, Seychelles, Congo and the Kingdom of Lesotho, as well as government officials from Rwanda and Kenya and COMESA Secretary General.



Commenting on the upcoming forum, Her Excellency Reem Al Hashimy, UAE Minister of State for International Cooperation and Director General of Expo 2020 Dubai, said: “Countries from across the world that are participating in Expo 2020 are eager to widen and deepen their ties with Africa, and GBF Africa will be a crucial forum where the continent can share its plans and achievements, seek investments and solutions to its challenges and forge new relationships across the globe.



“Expo 2020 will bring together 191 nations plus millions of visitors, leveraging the convening power of World Expos and the UAE’s unique position as a global centre for trade to drive international collaboration and boost access to high-growth markets such as Africa.”



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This six-month experience – one of the first of this size and scale to take place since the start of the pandemic and the first to ever be held in the MEASA region – will be a beacon of hope for the global business community. It represents an unprecedented opportunity for businesses of all sizes, international organisations and government entities from across the world, to come together to foster a more diversified and resilient global economy, inspire a vibrant business environment and drive sustainable growth.



For his part, His Excellency Hamad Buamim, President and CEO of Dubai Chamber of Commerce and Industry, said: “The success that GBF Africa has had in attracting African presidents, ministers and influential leaders to join its high-level talks reflects the forum’s position as a leading global platform for exploring investment opportunities in the African continent. It reinforces the crucial role played by Dubai’s wise leadership in expanding the emirate’s trade links with emerging markets around the world.”



“The sixth edition of the forum will underline the crucial role of cross-border cooperation to discover new business opportunities in Africa, the home of one of the most important emerging markets in the world. Dubai Chamber is keen to continue its efforts to promote building strategic partnerships with the key players in the African business ecosystem. The Chamber is also committed to encouraging and supporting local and national companies to invest in African markets and enhance sustainable economic growth and development,” H.E. Buamim added.



GBF Africa will offer businessmen and investors valuable insights and up-to-date information on a plethora of promising investment opportunities. The forum will help facilitate cooperation between business communities in Africa and the UAE to help African companies benefit from Dubai’s experience in building an integrated digital economy rooted in cutting-edge technologies.

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