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Singapore’s Tolaram Welcomes IFC Investment in Lagos Free Zone to Boost Industrial Growth and Economic Diversification in Nigeria

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LAGOS, NIGERIA – Media OutReach Newswire – 8 February 2025 – Tolaram, the Singapore-headquartered owners and operators of Lagos Free Zone are proud to announce that the International Finance Corporation (IFC) has committed an equity investment of up to $50 million to support the development of Lagos Free Zone.

The investment, aimed at closing key infrastructure gaps to enhance Nigeria’s global competitiveness, will help accelerate the first phase development of the 860-hectare Lagos Free Zone through expanding land development, industrial facilities, and logistics infrastructure. Directly integrated with the Lekki Deep Sea Port, Lagos Free Zone is uniquely positioned to offer an efficient, unified industrial ecosystem that facilitates seamless import and export operations, positioning Nigeria as a critical player in global value chains.

By addressing critical infrastructure bottlenecks and improving connectivity, this investment is expected to open new business opportunities, strengthen Nigeria’s position as a leading regional economic hub, and contribute to the long-term prosperity of the nation.

“Tolaram’s businesses have a long-standing history in Nigeria and are deeply committed to unlocking the country’s economic potential. With the critical investments made in Lagos Free Zone, we are not only tackling infrastructure challenges but also creating a conducive environment for local and international businesses to thrive,” said Navin Nahata, Managing Director for Fintech and Infrastructure at Tolaram.

Adesuwa Ladoja, Managing Director/CEO of Lagos Free Zone Company, added, “IFC’s support represents a significant and positive recognition of our vision to establish Lagos Free Zone as a world-class industrial hub. This investment allows us to scale up the existing infrastructure to attract more foreign and local tenants while promoting sustainability and creating economic opportunities for Nigeria. Lagos Free Zone, integrated with Lekki Deep Sea Port, facilitates ease of doing business in Nigeria and supports the Federal Government of Nigeria’s drive for economic diversification and infrastructure development. We look forward to driving growth and delivering lasting impact through this transformative collaboration with the IFC.”

Lagos Free Zone is already home to several manufacturing brands like Kellogg’s, Dano Milk, Colgate, BASF, ADM, and Tata International as well as Lekki Port – Nigeria’s deepest and most advanced port.

30,000 direct, indirect, and induced jobs are expected to be created when the Lagos Free Zone is fully occupied, delivering long-term economic benefits to Nigeria. With the Nigerian economy projected to grow by 3.7% in 2026, investments of this nature are vital to ensuring the country’s sustained growth and economic resilience.

Dahlia Khalifa, IFC Regional Director for Central Africa and Anglophone West Africa, noted, “This investment reflects IFC’s commitment to fostering inclusive economic growth and sustainable development in Nigeria. Lagos Free Zone is poised to become a transformative hub for industrial activity, driving job creation and enhancing Nigeria’s competitiveness in global markets. We are proud to partner with Lagos Free Zone in building the infrastructure necessary to attract global and local businesses, enabling Nigeria to achieve its full economic potential.”

The investment in Lagos Free Zone also reflects IFC’s commitment to sustainable development, with a focus on green infrastructure. Approximately 15% of the investment is earmarked for climate-related initiatives, including Excellence in Design for Greater Efficiencies (EDGE)- certified buildings and climate-resilient infrastructure.

This investment aligns with Nigeria’s ongoing economic reforms and supports IFC’s broader strategic frameworks, including the World Bank Group’s Nigeria Country Partnership Framework (2021–2025) and its 2015 Climate Action Plan, both prioritising economic diversification, the development of competitive business clusters, and investments in climate-resilient infrastructure.

Hashtag: #Tolaram #LagosFreeZone #LekkiPort #IFC

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

About Tolaram

Tolaram is a family-owned business, headquartered in Singapore, focused on investing in emerging market opportunities and building brands that drive economic growth. Since its founding in 1948, Tolaram has evolved from a single retail shop into a diversified global business with interests spanning consumer goods, fintech, infrastructure, and industrial sectors in Africa, Asia, and Europe.

Across Africa, Tolaram has established a significant presence through its consumer business. Through partnerships with global corporations such as Indofood, Arla Foods, Kellanova, Colgate-Palmolive, and Diageo, Tolaram manufactures and distributes a wide range of products, making it one of the continent’s largest consumer goods enterprises. Tolaram also owns and operates Nigeria’s first wholly owned private free trade zone with a deep seaport.

Tolaram also owns and operates a digital bank and an insurtech business in Indonesia as well as an integrated paper mill in Estonia.

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The Educational Foundation of William Louey is to launch a video series to support younger people facing mental health challenges due to education pressures.

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HONG KONG SAR – Media OutReach Newswire – 18 March 2025 – The William SD Louey Educational Foundation is proud to announce a collaboration with Suicide Prevention Services (SPS) aimed at tackling the mental health challenges faced by young men aged 15–25 in Hong Kong.

The initiative features five key opinion leaders (‘KOLs’) and comes at a critical time when youth mental health issues are on the rise. Students are particularly vulnerable to poor mental health due to academic and parental pressure. Studies show that younger people report academic pressure as one of the biggest influences on their well-being.

Suicide claims nearly 1,000 lives annually in Hong Kong, with the number of students considering suicide increasing by 50% since the 2018-2019 academic year. Despite being one of the most developed regions globally, Hong Kong’s psychiatrist-to-population ratio lags significantly behind other developed communities.

The collaboration between the William SD Louey Educational Foundation and SPS aims to speak directly to young men with relatable, expert-backed advice on overcoming mental health challenges, with a particular focus on academic and parental pressure.

Topics will include how to overcome exam stress, bullying and how to navigate feelings of failure. The video series, delivered in Cantonese and English, will feature KOLs including Stephanie Ng, Founder and Executive Director of Body Banter; Michael Chan, Founder of Companion HK; leading psychologist, Dr Adrian Low; D&I Advocate, Charlton Shiu; and Vivek Mahbubani, a comedian and mental health campaigner.

William SD Louey Educational Foundation Founder William Louey, who is well known as the fourth-generation heir of the founder of the Kowloon Motor Bus Company, said:

“Young people need and deserve a system that prioritises mental health, eases academic pressures, and encourages self-confidence and acceptance of individuals’ many strengths. I believe this collaboration will be a valuable step forward to protecting and improving young people’s mental health in Hong Kong.”

Mr. Vincent Ng Chi-kwan, Executive Director of SPS, said:

“SPS receives an average of nearly 10,000 calls per month. Students consistently express feelings of guilt and a sense that they cannot escape their predicaments, leading them to view suicide as their only way out – reflecting a lack of mental health support in the current system and highlighting an urgent need for increased attention to adolescent mental health.”

The full video series will launch on Suicide Prevention Services and William SD Louey Educational Foundation YouTube channels in April 2025.

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

About William Louey and the William S.D Louey Educational Foundation

established the William S. D. Louey Educational Foundation in 1995 to provide scholarships and bursaries for academically outstanding students from Hong Kong and Greater China to pursue studies abroad. To date, William Louey has contributed over HKD $60 million to support 60 scholars. Beyond financial assistance, William Louey has also invested time and expertise to mentor and guide students.

For more information about The William SD Louey Educational Foundation, visit

About Suicide Prevention Services (SPS)

Founded in 1995, SPS is a registered charitable organization committed to serving people who are suicidal, despairing or distressed by means of befriending and other services supporting them to regain control of their emotions and the will to live on. SPS has been helped more than 1,100,000 people, providing services including: 24-hour Suicide Prevention Hotline Service, Suicide Prevention Service for the Elderly, Services for Family with Elderly, Services for Survivors of Sudden Death and Suicide Loss, Community Education and Life Education for Youth.

For more information or to access Suicide Prevention Services, visit

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Diginex Signs MOU for Strategic Partnership, ADX Dual Listing and up to USD$250 Million capital injection with His Highness, Shaikh Mohammed Bin Sultan Bin Hamdan Al Nahyan of Abu Dhabi’s Royal family, for Acquisitions and Regional UAE and GCC Expansion via Nomas Global Investments LLC S.P.C, a solely owned SPV of His Highness

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LONDON, UNITED KINGDOM – Media OutReach Newswire – 17 March 2025 – Diginex Limited (“Diginex” or the “Company”)(Nasdaq: DGNX), an impact technology company specializing in environmental, social, and governance (“ESG”) issues, today announced the signing of two memorandum of understandings (“MOUs”) to pursue a broad strategic partnership to facilitate Diginex with its planned expansion in the United Arab Emirates (“UAE”) and the broader Gulf Cooperation Council region (“GCC”), which includes assisting the Company with a dual listing of the Company’s ordinary shares on the Abu Dhabi Securities Exchange (“ADX”) and a planned capital raise of up to USD$250 million focused on large institutional investors based in the GCC. This strategic move is expected to bolster Diginex’s growth trajectory, with the capital financing to fund multiple acquisitions and accelerate Diginex’s regional as well as global expansion initiatives.

The MOUs mark a significant milestone for Diginex as it seeks to tap into the vibrant Middle Eastern capital markets while enhancing its presence in one of the world’s fastest-growing financial hubs. The dual listing on ADX, alongside its existing Nasdaq listing and recent cross listing on the Frankfurt Stock Exchange and Tradegate, will provide Diginex with access to a broader investor base and increased liquidity to support its ambitious growth plans.

On February 25, 2025, ADX and Nasdaq announced further integration in their tie-up with one another. The integration of trading platform infrastructure opens up a pathway for desirable Nasdaq listed companies to dual-list in Abu Dhabi, and Diginex is proud to be included in the first cohort of companies to go through such process. Upon completion of the listing process Diginex will be the first technology company listed on the ADX, and with a sustainability focus it stands to benefit from the regions commitment to sustainable finance, which stands at publicly committed funds for sustainable lending of more than USD$135bn.

Shaikh Mohammed Bin Sultan Bin Hamdan Al Nahyan, said “This strategic partnership and planned capital raise reflects our long-standing commitment to both technology and sustainability in the UAE. We must address sustainability challenges, develop strategic frameworks, and craft innovative solutions to ensure a prosperous future for all. Sustainability is a cornerstone of the nation’s strategies, as the UAE continues its unwavering efforts to harness resources and capabilities to drive global sustainable economic and social development.”

The anticipated capital raise pursuant to the MOUs will fuel Diginex’s acquisition strategy, targeting innovative firms in the AI, sustainability, and supply chain sectors by leveraging access to a new regional investor base and opportunities in the UAE, broader GCC region, and support Diginex’s global growth goals.

“We are honoured and excited to welcome a member of Royal Family of Abu Dhabi as a strategic partner,” said Miles Pelham, Chairman of Diginex. “We believe this partnership will support Diginex in establishing key relationships with regional and global financial institutions, banks, and strategic partners aligned with their business objectives. Our objective is to make Diginex a leader in ESG sustainable RegTech, utilizing gold-standard industry partnerships, blockchain, and AI technology within the UAE and GCC region”

The dual listing process will adhere to ADX’s rigorous listing standards, ensuring transparency and investor protection. Diginex anticipates completing the necessary regulatory steps and capital-raising activities in the next two quarters, with further details to be announced as the partnership progresses. However, a dual listing comes with its normal regulatory processes and there can be no assurance that Diginex’s planned dual listing of its ordinary shares on the ADX and capital raise will be successful.

Disclaimer

Not for release, publication or distribution, directly or indirectly, in the United States, or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.

This press release is issued pursuant to Rule 135(e) under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”). This press release and the information it contains do not, and will not, constitute an offer to sell, nor the solicitation of an offer to purchase, any securities of Diginex in the United States (or to or from any U.S. person) or any other jurisdiction where restrictions may apply. Diginex’s securities have not been and will not be registered under the U.S. Securities Act, or any state securities laws, and may not be offered or sold in the United States (or to any U.S. person) absent registration or an applicable exemption from registration under the U.S. Securities Act and applicable state securities law. Any public offering of Diginex’s securities to be made in the United States will be made by means of a prospectus that may be obtained from Diginex and such prospectus will contain detailed information about Diginex, its management, and its financial statements.

Hashtag: #Diginex

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

About Diginex

Diginex Limited (Nasdaq: DGNX; ISIN KYG286871044) is an impact technology business that empowers businesses and governments to streamline ESG, climate, and supply chain data collection and reporting. The Company utilizes blockchain, AI, machine learning and data analysis technology to lead change and increase transparency in corporate social responsibility and climate action. Diginex’s products and services solutions enable companies to collect, evaluate and share sustainability data through easy-to-use software.

The award-winning Diginex ESG platform supports 17 global frameworks, including GRI (the “Global Reporting Initiative”), SASB (the “Sustainability Accounting Standards Board”), and TCFD (the “Task Force on Climate-related Financial Disclosures”). Clients benefit from end-to-end support, ranging from materiality assessments and data management to stakeholder engagement, report generation and an ESG Ratings Support Service.

For more information, please visit the Company’s website:

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HKSTP European Innovation Mixer Tour Bridging Hong Kong with 1,000+ Global Tech Talents

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HONG KONG SAR – Media OutReach Newswire – 17 March 2025 – Mr Albert Wong, CEO of Hong Kong Science and Technology Parks Corporation (HKSTP), led a delegation on a highly successful European Innovation Mixer tour in March, engaging with over 1,000 students and innovation and technology (I&T) talents, encouraging them to pursue opportunities in Hong Kong. The delegation also secured over 1,000 business collaboration opportunities, further strengthening Hong Kong’s I&T ecosystem.

The delegation from HKSTP visit multiple universities ranked among the world’s top 10 in the UK and hold multiple sharing sessions on campus to engage in face-to-face interactions with local students.

As part of its European tour, HKSTP together with the Hong Kong Trade Development Council (HKTDC), led 24 I&T companies to the Mobile World Congress (MWC) 2025 in Barcelona, achieving remarkable results. The Hong Kong Pavilion welcomed over 7,500 visitors, attracting representatives from global brands such as AT&T, Deutsche Telekom, Orange, T-Mobile, Verizon and Vodafone, and securing 1,000+ business collaboration opportunities. HKSTP also signed a cooperation agreement with 22@Network Barcelona to bolster cross-regional exchanges and jointly promote the sustainable development of innovative technologies.

The delegation also visited multiple universities ranked among the world’s top 10 in the UK, including Imperial College London, the University of Oxford, the University of Cambridge, and the University College London. They met with representatives from academic departments, research institutes, and innovation and entrepreneurship centres to explore various collaboration opportunities in talent development and startup incubation. The delegation hosted multiple sharing sessions on campuses, engaging with over 300 local students face-to-face and introducing internship and career opportunities at Hong Kong Science Park. They actively encouraged Hong Kong students pursuing studies in the UK to return to Hong Kong for work or entrepreneurship, collectively contributing to the thriving growth of Hong Kong’s I&T ecosystem.

HKSTP works closely with the government, industry, academia, and research sectors. In London, HKSTP co-hosted a seminar with the Hong Kong Economic and Trade Office in London (HKETO-London), Invest Hong Kong (InvestHK), and the Office for Attracting Strategic Enterprises (OASES). The event attracted interest from the local business community, academia, and I&T sector, with nearly 100 attendees focusing on Hong Kong’s potential investment and collaboration opportunities. The seminar featured guest speakers delivering keynote speeches on Hong Kong’s I&T development prospects, highlighting the city’s dynamic I&T ecosystem.

During his speech at the seminar, Mr Albert Wong, CEO of HKSTP, said: “As a growing engine situated at an international I&T hub in Asia, the HKSTP understands that nurturing next-generation I&T talent is as important as any R&D project, if not more. We’re currently an ecosystem that over 2,200 tech companies from 26 countries and regions call home, offering comprehensive support to more than 15,000 research and development professionals – a network we’re looking overseas to extend, and a number we’re eager to invest in for a sustainable future.”

While continuing to support park companies in recruiting overseas talent, HKSTP will soon launch a new talent programme designed to attract Hong Kong students and research professionals abroad to pursue careers in the city. The programme will provide eligible park companies with targeted salary subsidies and accommodation support for returning professionals, incentivising them to leverage the immense opportunities within Hong Kong’s thriving I&T ecosystem. Together, these efforts will advance Hong Kong’s rise as a leading global I&T hub.

Hashtag: #HKSTP

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

Hong Kong Science and Technology Parks Corporation

More information about HKSTP is available at .

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