Cybersecurity remains a top concern for financial institutions in Africa. In 2024, the Bank of Uganda fell victim to an offshore hacking group known as “Waste,” resulting in the theft of approximately $16.8 million. Additionally, ZB Financial Holdings in Zimbabwe experienced a ransomware attack in July 2024, leading to significant data leaks affecting customer and operational information. More recently, in South Africa, Standard Bank confirmed that it experienced a data breach that involved limited personal and financial information. These incidents underscore the urgent need for robust cybersecurity strategies within the BFSI sector.

Reasons for attendance
The BFSI Security Summit is the premier platform for CISOs, CIOs, IT directors, and cybersecurity leaders to explore the latest strategies and technologies to secure Africa’s financial landscape. Key topics on the agenda include:

• Ransomware and Data Breaches: Strengthening cybersecurity resilience in banking and insurance.
• Securing Emerging Tech: Mitigating risks in AI, blockchain, and cloud adoption.
• Data Privacy and Compliance: Navigating Africa’s evolving regulatory landscape.
• Incident Response in BFSI: Best practices in breach management and risk mitigation.

“Cybercrime is evolving at an alarming rate, and financial institutions in Africa are prime targets. The BFSI Security Summit will provide a crucial platform for industry leaders to collaborate, share insights, and implement strategies to safeguard their organizations,” says Abe Wakama, CEO of IT News Africa.

Sponsorship & Exhibitors
The summit offers a unique opportunity for cybersecurity solution providers, fintech innovators, and IT security firms to showcase their expertise and connect with key decision-makers. Sponsors will benefit from high-impact brand visibility, lead generation, and networking with top BFSI executives.

How to Get Involved

• To attend: Register here: BFSI Security Summit Registration
• To sponsor or exhibit: Download the sponsorship brochure: Sponsorship Opportunities
• To speak at the event: Apply here: Become a Speaker

For media inquiries, sponsorship, or speaking opportunities, contact events@itnewsafrica.com.

Join us in shaping the future of BFSI cybersecurity in Africa!
Hashtag: #ITNewsAfrica

The issuer is solely responsible for the content of this announcement.

lyf one-north Singapore joins Citadines Balestier Singapore, Citadines Raffles Place Singapore, and Oakwood Studios Singapore as the latest pet-friendly accommodation, offering exciting pet-related activities for guests.

SINGAPORE – Media OutReach Newswire – 1 April 2025 – The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI) is expanding its pet-friendly portfolio in Singapore with the addition of lyf one-north Singapore, offering a welcoming space for guests travelling with their furry companions. In line with Ascott’s commitment to enhancing guest experiences, the property will introduce a range of pet-centric activities, further solidifying its position as a hospitality leader catering to diverse lifestyle needs.

Beyond being a pet-friendly accommodation, lyf one-north Singapore will host a variety of engaging activities for pet lovers, including pet adoption drives, yoga sessions for dogs and cats, pet treat workshops, and pet obedience training sessions. These initiatives underscore Ascott’s dedication to creating a holistic environment where both guests and their pets feel comfortable and at home.

“We know that for many of our guests, pets aren’t just animals; they are beloved members of the family,” said Ms. Judy Wong, Country General Manager, Singapore Operations, Ascott. “At our pet-friendly properties, we warmly welcome you into a space where both you and your fur-kids can find comfort and care together. With our pet-friendly properties strategically located in or near the city centre, the introduction of lyf one-north Singapore in the west offers another wonderful home away from home that perfectly suits your family’s lifestyle. Here, both you and your cherished pets can create lasting memories together.”

lyf one-north Singapore: A Vibrant Social Living Hub
Nestled in Nepal Hill, lyf one-north Singapore embodies experience-led co-living with 324 apartment units catering to mid- and long-term stays. The property is situated within the dynamic one-north district, home to major corporations, start-ups, and creative communities. With its prime location opposite one-north MRT station and just a 30-minute ride from the Central Business District, it is tailored for digital nomads, technopreneurs, creatives, and self-starters.

The property’s seamless integration into one-north’s thriving ecosystem provides guests with convenient access to an array of recreational, retail, and dining options, including pet-friendly establishments. With pedestrian pathways, cycling tracks, and Personal Mobility Device (PMD) access paths, exploring the area is easy and enjoyable for both guests and their pets.

Explore Ascott’s Pet-Friendly Portfolio
Ascott continues to strengthen its pet-friendly hospitality offerings, with properties such as Citadines Balestier Singapore, Citadines Raffles Place Singapore, and Oakwood Studios Singapore. Each property provides tailored experiences for pet owners and their furry companions, ensuring an enjoyable and memorable stay.

Ascott Star Rewards: Exclusive Perks for Members
Ascott Star Rewards (ASR) members staying with pets will receive a special welcome kit, making their experience even more delightful. Guests can sign up for a complimentary ASR membership to enjoy exclusive year-round benefits. For more information, visit: https://www.discoverasr.com/en/singapore

Entrepôt: A Pet-Friendly Culinary Experience
For guests looking to dine with their pets, Entrepôt at The Robertson House by The Crest Collection offers an inviting pet-friendly experience. Whether enjoying a weekday set lunch, Social Hour evenings, or the weekend Steak Buffet, guests can bring their pets to the alfresco dining area for a relaxed meal together.

“At Entrepôt, we believe dining should be an inclusive experience for both our guests and their pets,” said Nixon Low, Director of Culinary & Beverage Operations at The Robertson House by The Crest Collection. “We are excited to extend our warm hospitality to our guests and their four-legged companions.”

For more information and reservations, please visit: www.entrepot.sg.
Hashtag: #Ascott

The issuer is solely responsible for the content of this announcement.

About The Ascott Limited

The Ascott Limited (Ascott) is driven by a vision to be the preferred hospitality company, enriching global living with heartfelt experiences. With a portfolio of over 980 properties across more than 230 cities in over 40 countries, Ascott’s presence spans Asia Pacific, Central Asia, Europe, the Middle East, Africa and the USA. Its diverse collection of award-winning brands includes Ascott, Citadines, lyf, Oakwood, Somerset, The Crest Collection, The Unlimited Collection, Fox, Harris, POP!, Preference, Quest, Vertu and Yello.

Ascott specialises in managing and franchising a wide range of lodging options, including serviced residences, hotels, resorts, social living properties and branded residences, catering to the varying needs and preferences of global travellers. Through the Ascott Star Rewards (ASR) loyalty programme, members enjoy exclusive privileges and curated experiences, enhancing every aspect of their travel journey.

As a wholly owned business unit of CapitaLand Investment Limited, Ascott generates fee-related earnings by leveraging its expertise in both lodging management and investment management. It also drives the expansion of funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.

For more information on Ascott and its sustainability programme, please visit www.discoverasr.com/the-ascott-limited. Alternatively, connect with Ascott on www.capitalandinvest.com)

Headquartered and listed in Singapore in 2021, CapitaLand Investment Limited (CLI) is a leading global real asset manager with a strong Asia foothold. As at 31 December 2024, CLI had S$136 billion of assets under management, as well as S$117 billion of funds under management held via stakes in seven listed real estate investment trusts and business trusts and a suite of private real asset vehicles that invest in demographics, disruption and digitalisation-themed strategies. Its diversified real asset classes include retail, office, lodging, industrial, logistics, business parks, wellness, self-storage, data centres, private credit and special opportunities.

CLI aims to scale its fund management, lodging management and commercial management businesses globally and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand Group’s development arm. In 2025, CapitaLand Group celebrates 25 years of excellence in real estate and continues to innovate and shape the industry.

As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for Scope 1 and 2 by 2050. CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

• Companies generally extended their payment terms, aided in part by third-party risk mitigation tools that may provide some comfort for suppliers to accommodate client needs.
• Longer payment terms have mitigated increases in payment delays, which rose only slightly from 64 days to 65 days.
• However, if payment delays are added to payment terms, the total average waiting time between product delivery and payment collection increased from 133 days in 2023 to 141 days in 2024.
• Among respondents that experienced ultra-long payment delays (ULPDs, above 180 days), almost half reported late payment worth at more than 2% of annual turnover. This proportion was significantly up from 33% in 2023 and implied a rise in non-payment risk.

Junyu Tan, North Asia Economist at Coface, says: “The collection period for Chinese suppliers lengthened in 2024, due to declining corporate revenues, driven by slower volume growth amid sluggish domestic demand but also by price pressures in an ongoing deflationary environment. While suppliers extended payment terms on average, growing caution was evident as fewer companies offered credit sales. Looking ahead to 2025, 52% of our respondents expected the economic outlook to improve as government stimulus efforts may have bolstered confidence among companies. However, this optimism could be overstated, as stimulus measures have been relatively restrained so far, and tariff risks for trade sectors remain a looming challenge. Coface expects China’s GDP growth to stand at 4.3% in 2025.”

Payment delays[1]: Increasing ultra-long payment delays

Companies generally extended payment terms in 2024, aided in part by third-party risk mitigation tools. The average total payment terms increased from 70 days in 2023 to 76 days in 2024. Thanks to these more generous terms, payment delays remained relatively stable, rising only slightly from 64 days to 65 days. However, if payment delays are added to payment terms, the total average waiting time between product delivery and payment collection, known as days sales outstanding (DSO), increased from 133 days in 2023 to 141 days in 2024, indicating an extended collection period from a year ago.

The share of respondents reporting past dues considerably reduced from 62% in 2023 to 44% in 2024. The duration of delays also remained stable. However, when combined with longer payment terms, the average days sales outstanding (DSO) rose from 133 days in 2023 to 141 days in 2024, indicating extended collection periods.

Meanwhile, among respondents that experienced ultra-long payment delays (ULPDs, above 180 days), 50% reported late payment worth more than 2% of annual turnover. This proportion was significantly up from 33% in 2023 and implied a rise in non-payment risk. Based on Coface’s practical experience, 80% of such delays, above 180 days and exceeding 2% of suppliers’ annual turnover, were not able to be collected.

By sector, the wood industry has experienced the most significant extension in payment delays, primarily driven by the prolonged housing market crisis that suppressed furniture demand and led to a significantly longer settlement cycle for the sector. Meanwhile, the automotive sector faced similar challenges. This was largely attributed to the financial burden on car dealers, who were grappling with losses and capital constraints amid an ongoing discount war aimed at reducing inventory. The construction industry continued to have one of the longest DSO in the survey, reflecting persistently tight liquidity conditions for the downstream.

Economic expectations: Competition to remain intense amid persisting overcapacity pressure

Respondents remained optimistic about the economic outlook over the next 12 months, with 52% expecting business conditions to improve in 2025. Pharmaceuticals remained the most optimistic industry (83%), driven by structural demand from an aging population. Metals ranked second in optimism (72%), likely fuelled by hopes for stimulus measures. Yet, this sentiment may be excessive, as muted demand from the housing construction sector may continue to weigh on real demand. Additionally, rising tariffs between the U.S. and China could exacerbate challenges for metals like steel and aluminium that are subject to higher tariffs. Textiles remained the most pessimistic sector, though fewer respondents expected the outlook to worsen compared to last year, as textile firms may find some relief from moderating raw material costs, with prices for cotton and oil expected to trend lower.

Fierce competition remained the top risk facing corporate operations in 2025, highlighting the persistent challenge of China’s excessive production capacity. Slowing demand ranked as the second-largest risk, particularly for export-oriented firms, which could face heightened trade barriers under a second Trump presidency. It remained unclear whether government efforts to stimulate domestic demand would be sufficient to offset the shortfall in external demand. The sustained gap between supply and demand is likely to push Chinese companies to continue engaging in price competition to drive sales, further intensifying market pressures.

Hashtag: #Coface

The issuer is solely responsible for the content of this announcement.

COFACE: FOR TRADE

As a global leading player in trade credit risk management for more than 75 years, Coface helps companies grow and navigate in an uncertain and volatile environment.

Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets. with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring. Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets. In 2024, Coface employed ~5 236 people and recorded a turnover of ~€1.84 billion.

For more information, visit coface.com.hk