Mutual Funds – Kuwait Financial Express http://www.kuwaitfinancialexpress.com Mon, 25 Mar 2024 11:50:32 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.2 Dominica reaches monumental agreement with other Caribbean Citizenship by Investment nations http://www.kuwaitfinancialexpress.com/?p=309984/ http://www.kuwaitfinancialexpress.com/?p=309984/#respond Mon, 25 Mar 2024 11:50:32 +0000 http://www.kuwaitfinancialexpress.com/?p=309984 Roseau, March 25, 2024 (GLOBE NEWSWIRE) — The citizenship by investment programme (CBIP) countries within the Organisation of Eastern Caribbean States (OECS) have agreed upon legislation to ensure the integrity of their CBIPs, supported by the government of the Commonwealth of Dominica. 

The virtual signing ceremony was held on Wednesday, 20 March, the four OECS countries, Antigua and Barbuda, Dominica, Grenada, and St Kitts and Nevis signed the Memorandum of Understanding (MoU) on 20 March 2024. This landmark pact included setting a minimum CBIP price threshold to US$200,000, elucidating the commitment of Caribbean CBI countries to solidify their commitment and maintain the dialogue with international partners.  

The MoU includes outlined agreements among the four CBI countries to accomplish the following: 

  • Exchange of best practices and due diligence processes 
  • Set a minimum threshold of USD200,000 and this threshold must represent the actual amount of funds received 
  • Sharing information on applicants; 
  • Enhance transparency by disclosing funds; 
  • Conduct independent financial and operational audits; 
  • Establish regional authority to set regional  standards; 
  • Set common standards for communication and promotion; 
  • Regulate agents; and 
  • Conduct joint training programmes and capacity–building initiatives for CBI administrations. 

Dominica leads on CBIP integrity 

The Commonwealth of Dominica was at the forefront of these changes, with the Prime Minister of Dominica, Honourable Dr Roosevelt Skerrit, announcing that he signed the agreed–upon changes ahead of his Tuesday press conference. Dominica continues to demonstrate receptiveness towards enhancing and maintaining the integrity of the CBIP

As announced in the press conference, Honourable Dr Skerrit explained that the Caribbean CBI countries will work together to address the European Union’s (EU) questions about CBI and visa–free travel to the Schengen area. Honourable Dr Skerrit explained that CBI countries are continuing the push to strengthen the integrity of the CBIPs. 

“As you know there are countries within the OECS who have these programmes, Antigua, Dominica, Grenada, St Lucia, and St Kitts and Nevis…and the concerns have been raised by these [European] countries…and the need for all of us to take certain actions to set aside the concerns which the EU in particular would have had with these programme,” Honourable Dr Skerrit said. 

Changes made in line with EU dialogue  

Honourable Dr Skerrit reiterated Dominica’s consistent dialogue with the EU, emphasising the meeting held between the five CBI Caribbean countries and the EU Directorate General of Migration and Home Affairs. This is evident in the EU officials visit to Dominica on 24 January 2024 with the OECS countries to discuss the Caribbean CBIPs. 

Honourable Dr Skerrit stated that “Dominica has taken some very comprehensive measures to allay and to set aside the concerns of the European Union and other parties who we engage in on this matter.” 

“Further to that, the countries within the OECS who have these programmes, we have met jointly, and we have agreed to take some joint actions, some of which, not limited to but include having the same legislation to deal with the whole (CBI) programmes”. 

Standardising CBIPs 

The legislation standardises due diligence, information between CBIPs, and sets minimum price structures to ensure no applicants could apply for citizenship ‘below a particular fixed rate’. 

These things, Honourable Dr Skerrit maintained, “will place all of us in a much stronger position in terms of our response to the concerns the EU would have raised.”  

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St Kitts and Nevis leads the regional agreement on Citizenship by Investment regulations http://www.kuwaitfinancialexpress.com/?p=309981/ http://www.kuwaitfinancialexpress.com/?p=309981/#respond Mon, 25 Mar 2024 11:34:01 +0000 http://www.kuwaitfinancialexpress.com/?p=309981 Basseterre, March 25, 2024 (GLOBE NEWSWIRE) — In a historic move for the Caribbean, St Kitts and Nevis, one of the countries with a Citizenship by Investment Programme  (CBIP), and part of the Organisation of Eastern Caribbean States (OECS), the nation’s leadership has worked tirelessly with its partner OECS jurisdictions to enhance the integrity of CBIPs in the region. The twin–island federation alongside Antigua & Barbuda, the Commonwealth of Dominica, and Grenada agreed on mutual legislation, through the signing of the Memorandum of Agreement (MOA), which is aimed at a regional effort to strengthen the CBIPs and address international partners’ concerns surrounding CBIPs. 

Caribbean CBIPs are designed to obtain foreign direct investments (FDIs) to support socio–economic developments in exchange for citizenship through thorough stringent due diligence processes. 

St Kitts and Nevis is one of the CBI countries that have implemented initiatives that include a fixed minimum investment amount to ensure that the CBIP maintains its integrity and enhances confidence from its international partners. 

The current Charmain of the OECS, Prime Minister of St Kitts and Nevis, Honourable Dr. Terrance Drew, spearheaded this initiative to enhance collaboration among the five Caribbean CBI countries. This Memorandum of Agreement is a clear indication that St Kitts and Nevis, among the other three Caribbean CBI nations, are prepared to make necessary adjustments that will benefit CBIPs, Caribbean citizens and international stakeholders. 

Honourable Dr Drew stated that “the four small island developing States who signed this Memorandum have committed to increase and harmonise the minimum investment threshold of their CBIPs to an investment sum of at least US$200,000 no later than June 30, 2024, and more importantly, to bring an end to ’underselling’, a scourge on the CBI industry in the recent past. We have therefore agreed that the minimum investment thresholds for our CBIPs shall represent the actual amount of funds received and applied towards an applicant’s qualification under our respective CBIPs, and not the gross amount of funds paid by an applicant from which deductions, including the payment of commissions, are made.” 

The Memorandum of Agreement dated 20 March 2024, outlines raising the minimum investment threshold to US$200,000 to be initiated by 30 June. The agreement addresses other aspects including sharing information on CBIP applicants; enhancing transparency measures, establishing a regional competent authority; setting common standards of communication and promotion; regulating agents; and facilitating joint training programmes. 

St Kitts and Nevis is the pioneer of CBIPs and since its establishment in 1984, it continuously welcomes suggestions and spearheads reform in the wider migration industry. In this instance, St Kitts and Nevis and Caribbean CBIP countries have collectively adopted CBI legislation that maintains the integrity and security of Caribbean CBIPs. Although ahead of the curve, St Kitts and Nevis introduced new legislation last year addressing many of these areas now reflected in the Memorandum of Agreement, including increasing the investment thresholds.  

The Head of St Kitts and Nevis Citizenship by Investment Unit (CIU), Mr Michael Martin, has diligently supported the Government to ensure measures are in place, including efforts to prioritise strengthening due diligence processes to maintain the CBIPs' integrity and competitiveness in the industry. 

Standardising the minimum investment requirements will safeguard the importance of Caribbean CBIPs, improve security measures and reduce risks of CBIP countries not receiving the necessary FDI to develop their economies. 

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St Kitts and Nevis Paves the Way for its Global Citizens to “Connect, Collaborate and Celebrate” at the Investment Gateway Summit http://www.kuwaitfinancialexpress.com/?p=309901/ Fri, 08 Mar 2024 15:38:35 +0000 http://www.kuwaitfinancialexpress.com/?p=309901 Basseterre, March 08, 2024 (GLOBE NEWSWIRE) — The Government of St Kitts and Nevis have ushered in a new era of investing through the “Investment Gateway Summit”, calling for its economic citizens to visit their home. Global investors and high–net–worth individuals (HWNIs) can explore endless opportunities whilst being hosted by the Government. 

The Prime Minister of St Kitts and Nevis, Honourable Dr. Terrance Drew, along with his Government, extends a personal invitation to citizens and investors to attend the exclusive inaugural Investment Gateway Summit from 11 to 15 May 2024.  

This significant event is an opportunity for Kittian and Nevisian citizens around the world to return home to discover how the twin–island federation is utilising economic diversification to advance developments and our citizens. 

This personal invitation from Honourable Dr. Drew, is an experience not to be missed to learn about the Sustainable Island State Agenda from the Government and key speakers , while connecting and building with visionary leaders, global businesspeople, and economic citizens. 

During the five–day Summit, economic citizens can engage and interact with national leaders and global experts. They can also explore the natural wonders the islands have to offer, with unique premium experiences to share with the world. 

Please click here to secure your exclusive spot at the Investment Gateway Summit. 

What to Expect from the Summit? 

As an economic citizen, this will be your opportunity to connect with like–minded individuals in various businesses and network with businesspeople. 

Economic Citizens will have the opportunity to experience firsthand what initiatives St Kitts and Nevis are engaging in and the progress of each development. 

Learn about St Kitts and Nevis’ economic outlook for 2024 and beyond in addition to understanding how economic diversification can inspire change. Investment–led projects in the twin–federation and how you can become part of these exciting developments will be presented. 

Gain insights into the Sustainable Island State Agenda and why it is an essential element in the “Investment Gateway Summit” in May 2024. 

The Sustainable Island State Agenda key focus is on seven pillars: 

1. Food security 

2. Green energy transition 

3. Economic diversification 

4. Developing the Creative Economy 

5. Post–pandemic recovery 

6. Attract and support sustainable organisations 

7. Extend social protection and safety for vulnerable individuals 

These seven pillars form part of the Sustainable Island State Contribution (SISC), which is an exciting new investment option under the Citizenship by Investment (CBI) Programme

The SISC is an opportunity to contribute to the development of a new nation. It's a secure and sustainable option for savvy investors looking to make a strategic investment. 

Collaborative sustainable development initiatives will nurture economic and community development and extend shared values of excellence. 

“Connect, Collaborate and Celebrate” with Us 

If you're interested in promoting your brand, business services, or exploring sponsorship opportunities, feel free to leave a comment here along with your inquiry in the contact form. We'll promptly respond with details on available packages. 

Tickets are limited – make sure to get your early bird tickets! 

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St Kitts and Nevis unveils the Investment Gateway Summit http://www.kuwaitfinancialexpress.com/?p=309839/ Thu, 29 Feb 2024 12:09:48 +0000 http://www.kuwaitfinancialexpress.com/?p=309839 Basseterre, Feb. 29, 2024 (GLOBE NEWSWIRE) — The Government of St Kitts and Nevis proudly announces a landmark achievement in its ongoing commitment to realising the Sustainable Island State Agenda. In a ground–breaking move, the nation unveils an unprecedented initiative aimed at fostering collaboration and investment to propel the twin–federation into a prosperous future. 

This pivotal moment not only signifies a significant stride towards sustainability but also underscores the Government's visionary approach to uniting its global citizens. In an extraordinary display of inclusivity, St Kitts and Nevis extends its arms to every citizen worldwide, ushering them to partake in shaping the nation's trajectory. 

The Government will host their inaugural event, “The Investment Gateway Summit” in May, marking a historical moment in the country’s journey towards fulfilling the Sustainable Island State Agenda. This momentous event presents an unparalleled opportunity to collaborate and invest in shaping the future of the twin–federation. 

It’s a personal invitation from the Prime Minister of St Kitts and Nevis, Honourable Dr. Terrance Drew, and his Government to engage citizens and investors to come to the country for this exclusive inaugural Investment Gateway Summit taking place from 11 to 15 May 2024! 

Through this forward–thinking endeavour, the Government unites individuals under a common banner – that of being a proud citizen of St Kitts and Nevis, while fostering opportunities for success as entrepreneurs, investors, and innovators. 

Each day of the five–day Summit promises unique events and interactions with the leaders of the country and global experts to ensure an engaging and interactive experience in the twin–island federation.  

Who will attend the Summit? 

This Summit is all about the St Kitts and Nevis citizens. The event also promises a mix of discerning investors, and high–net–worth individuals (HNWIs) seeking prospects; prospective Citizenship by Investment (CBI) applicants and entrepreneurs, CEOs and C–Suite businesspeople and the wider investor immigration community.  

Why is this Summit not to be missed? 

This is an opportunity to connect with like–minded global citizens, investors, HNWIs and special guests, as well as identify potential new business opportunities in the idyllic twin–island federation. This unique platform will unlock new ventures for growth throughout various sectors of the country’s economy, including agriculture, information technology, renewable energy and tourism. 

From diverse panel discussions and networking opportunities to exclusive investment highlights and site visits, the Summit is crafted to connect, collaborate and celebrate the country and its global citizens. 

Investment Opportunities in St Kitts and Nevis 

To showcase St Kitts and Nevis’ commitment to the Sustainable Island State Agenda, the Summit will highlight initiatives that global investors can participate in to nurture community development, empower businesses and foster growth and development. 

The Government of St Kitts and Nevis together with the Citizenship by Investment Unit (CIU) look forward to hosting this riveting event and opening their nation‘s doors to explore the twin federation’s active investment projects, spectacular beaches, distinct tourism amenities and luxury accommodation. 

Please click here to secure your exclusive spot at the Investment Gateway Summit. 

This is not just a unique investment opportunity in a tropical Caribbean country, it is a meeting of minds to form meaningful connections, through engaging workshops and insightful panel discussions. Additionally, the Government aims to build strong communities with shared values of excellence. 

Get Involved 

Should you like to promote your brand, business services or enquire about sponsorship opportunities, you can leave your comment here with your interest in the contact form, and you will receive a response with available packages. 

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Carry1st anuncia um investimento estratégico do Sony Innovation Fund http://www.kuwaitfinancialexpress.com/?p=309624/ Tue, 30 Jan 2024 20:24:10 +0000 http://www.kuwaitfinancialexpress.com/?p=309624 CIDADE DO CABO, África do Sul, Jan. 30, 2024 (GLOBE NEWSWIRE) — A Carry1st, a principal editora de jogos e plataforma de comércio digital da África, anuncia um investimento estratégico do Sony Innovation Fund, a divisão de capital de risco da Sony Group Corporation (“Sony”). A Carry1st é o primeiro investimento do Sony Innovation Fund: Africa, que foi criado pela Sony como uma iniciativa para promover o crescimento de empresas de entretenimento na África.

O setor de jogos da África, impulsionado pelo rápido aumento da adoção de tecnologia, tem mais de 200 milhões de usuários únicos e deve representar um mercado de mais de US$ 1 bilhão em 2024, de acordo com dados da Newzoo e Carry1st. Embora a disponibilidade formal de consoles seja limitada, a África apresenta uma incrível oportunidade de crescimento para esse setor, principalmente com o aumento dos serviços em tempo real.

“É com entusiasmo que nos unimos ao Sony Innovation Fund: Africa”, disse Cordel Robbin–Coker, CEO e cofundador da Carry1st. “Esta parceria ajudará a Carry1st a promover o futuro dos jogos na África. Na Carry1st, consideramos o mercado africano de consoles uma oportunidade extremamente subestimada. Nossas competências regionais diferenciadas, aliadas à experiência da Sony em jogos e entretenimento, formam uma combinação poderosa. Juntos, esperamos levar os melhores jogos do mundo aos usuários de toda a África.”

“É com entusiasmo que saudamos a Carry1st como nosso primeiro investimento na África”, disse Antonio Avitabile, Diretor Geral – EMEA, Sony Ventures Corporation. “Consideramos que há um enorme e inexplorado potencial para o mercado de jogos na África, que esperamos explorar e contribuir com nosso investimento na Carry1st. Estamos ansiosos para trabalhar em conjunto com a equipe de gestão de primeira classe da Carry1st a fim de auxiliar o crescimento da empresa e explorar possíveis oportunidades de negócios com as empresas do Grupo Sony.”

Sobre a Carry1st
A Carry1st é a principal editora de jogos e conteúdo digital da África. Sua missão é oferecer conteúdo incrível em mercados fronteiriços, resolvendo problemas difíceis. A Carry1st desenvolve, licencia e publica jogos e os monetiza eficazmente com a Pay1st, uma plataforma própria com outras opções de pagamento e um mercado on–line para itens de jogos digitais. A Carry1st firmou parcerias com empresas como Activision, Supercell e Riot Games para ajudar a expandir jogos como Call of Duty: Mobile e Valorant e lançou jogos como Africa Glam (Nanobit), Mancala Adventures, SpongeBob Krusty Cook–Off, Ludo Blitz e Mine Rescue para usuários na África. A Carry1st arrecadou mais de US$ 60 milhões desde sua criação em 2018 e conta com investidores como Andreessen Horowitz (a16z), BITKRAFT, Google, Riot Games e Nas.

Sobre a Sony Ventures Corporation
A Sony Ventures Corporation administra o Sony Innovation Fund (SIF), que investe em empresas de tecnologia emergentes em todos as suas fases, bem como em startups que solucionam desafios ambientais globais. O SIF colabora com startups pioneiras para ajudar a fomentar o desenvolvimento de tecnologias revolucionárias, lançar novos negócios e contribuir para o meio ambiente, buscando o retorno do investimento. A Sony Ventures Corporation é sediada no Japão. Saiba mais em www.sonyinnovationfund.com.

Para obter mais informações, entre em contato com:
Alexandra Lloyd na Nara Communications
Alexandra@naracommunications.com


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Carry1st kündigt strategische Investition von Sony Innovation Fund an http://www.kuwaitfinancialexpress.com/?p=309623/ Tue, 30 Jan 2024 20:24:10 +0000 http://www.kuwaitfinancialexpress.com/?p=309623 KAPSTADT, Südafrika, Jan. 30, 2024 (GLOBE NEWSWIRE) — Carry1st, führender Game–Publisher und digitale Handelsplattform in Afrika, gibt die strategische Investition von Sony Innovation Fund, der Risikokapitalgesellschaft der Sony Group Corporation („Sony“), bekannt. Carry1st ist die erste Investition aus dem Sony Innovation Fund: Afrika, der von Sony als Initiative zur Förderung des Wachstums von Entertainment–Unternehmen in Afrika eingerichtet wurde.

Als Folge der rasant zunehmenden Technologisierung hat die afrikanische Gaming–Branche über 200 Millionen Spieler und wird nach Angaben von Newzoo und Carry1st im Jahr 2024 ein Marktvolumen von über 1 Milliarde US–Dollar erreichen. Auch wenn die formale Präsenz von Konsolen begrenzt ist, bietet Afrika diesem Sektor unglaubliche Wachstumschancen, insbesondere durch die Zunahme von Live–Diensten.

„Wir freuen uns sehr über die Zusammenarbeit mit dem Sony Innovation Fund: Afrika“, kommentierte Cordel Robbin–Coker, CEO und Mitbegründer von Carry1st. „Die Beziehung wird Carry1st bei der Weiterentwicklung der Gaming–Zukunft in Afrika unterstützen. Nach Ansicht von Carry1st stellt der afrikanische Konsolenmarkt eine massiv unterschätzte Chance dar. Unsere ausgeprägten regionalen Kenntnisse in Verbindung mit dem Know–how von Sony in den Bereichen Gaming und Entertainment ergeben eine starke Kombination. Gemeinsam hoffen wir, den Spielern in ganz Afrika die besten Games der Welt bieten zu können.“

„Wir freuen uns, Carry1st als unsere erste Investition in Afrika vorstellen zu können“, betonte Antonio Avitabile, Managing Director – EMEA, Sony Ventures Corporation. „Wir sind von dem enormen ungenutzten Potenzial des Gaming–Marktes in Afrika überzeugt und hoffen, durch unsere Investition in Carry1st dieses Potenzial nutzen zu können. Wir freuen uns auf eine enge Zusammenarbeit mit dem erstklassigen Managementteam von Carry1st, um das Wachstum des Unternehmens zu unterstützen und potenzielle Geschäftsmöglichkeiten mit Unternehmen der Sony–Gruppe auszuloten.“

Über Carry1st
Carry1st ist der führende Publisher von Games und digitalen Inhalten in Afrika. Das Unternehmen verfolgt die Mission der Skalierung außergewöhnlicher Inhalte in Grenzmärkten durch die Lösung schwieriger Probleme. Carry1st entwickelt, lizenziert und veröffentlicht Games und vermarktet diese effektiv mit Pay1st, einer eigenen alternativen Zahlungsplattform und ein Online–Marktplatz für digitale Gaming–Produkte. Carry1st hat mit Partnern wie Activision, Supercell und Riot Games zusammengearbeitet, um Spiele wie Call of Duty: Mobile und Valorant zu fördern. Außerdem hat das Unternehmen Spiele wie Africa Glam (Nanobit), Mancala Adventures, SpongeBob Krusty Cook–Off, Ludo Blitz und Mine Rescue für Spieler in Afrika lanciert. Carry1st hat seit seiner Gründung im Jahr 2018 mehr als 60 Millionen US–Dollar akquiriert und zählt Andreessen Horowitz (a16z), BITKRAFT, Google, Riot Games und Nas zu seinen Investoren.

Über die Sony Ventures Corporation
Die Sony Ventures Corporation verwaltet den Sony Innovation Fund (SIF), der in alle Phasen aufstrebender Technologieunternehmen sowie in Start–ups zur Lösung globaler Umweltprobleme investiert. SIF arbeitet mit bahnbrechenden Start–ups zur Entwicklung wegweisender Technologien, zur Gründung neuer Unternehmen und zum Schutz der Umwelt zusammen, während gleichzeitig die Rentabilität der Investitionen gefördert wird. Die Sony Ventures Corporation hat ihren Hauptsitz in Japan. Weitere Informationen finden Sie unter www.sonyinnovationfund.com.

Weitere Informationen erhalten Sie bei:
Alexandra Lloyd von Nara Communications
Alexandra@naracommunications.com


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Carry1st annonce un investissement stratégique de Sony Innovation Fund http://www.kuwaitfinancialexpress.com/?p=309622/ Tue, 30 Jan 2024 20:24:10 +0000 http://www.kuwaitfinancialexpress.com/?p=309622 LE CAP, Afrique du Sud, 30 janv. 2024 (GLOBE NEWSWIRE) — Carry1st, le principal éditeur de jeux et la première plateforme de commerce numérique d’Afrique, annonce un investissement stratégique de Sony Innovation Fund, la filiale de capital–risque de Sony Group Corporation (« Sony »). Carry1st est le premier investissement de Sony Innovation Fund: Africa, une initiative créée par Sony pour soutenir la croissance des entreprises de divertissement en Afrique.

Stimulée par l’adoption croissante des technologies, l’industrie du jeu en Afrique compte plus de 200 millions de joueurs uniques et devrait atteindre une taille de marché de plus d’un milliard de dollars en 2024, selon les données de Newzoo et Carry1st. Bien que la présence de consoles officielles soit limitée, l’Afrique présente une opportunité de croissance incroyable pour ce secteur, en particulier avec l’essor des services en direct.

« Nous sommes ravis d’unir nos forces à celles de Sony Innovation Fund: Africa », a déclaré Cordel Robbin–Coker, PDG et co–fondateur de Carry1st. « Cette relation aidera Carry1st à définir l’avenir de l’industrie du jeu vidéo en Afrique. Chez Carry1st, nous pensons que le marché africain des consoles est une opportunité largement sous–estimée. Nos capacités régionales distinctes, associées à l’expertise de Sony en matière de jeux et de divertissements, en font une combinaison gagnante. Ensemble, nous espérons offrir les meilleurs jeux du monde aux joueurs de toute l’Afrique ».

« Nous sommes ravis de nous associer à Carry1st pour notre premier investissement en Afrique », a déclaré Antonio Avitabile, directeur général, EMEA, Sony Ventures Corporation. « Nous pensons que le marché des jeux vidéo en Afrique représente un énorme potentiel inexploité, dont nous espérons faire l’expérience et auquel nous espérons contribuer grâce à notre investissement dans Carry1st. Nous sommes impatients de travailler en étroite collaboration avec l’équipe de direction exceptionnelle de Carry1st pour soutenir la croissance de l’entreprise et explorer les opportunités commerciales avec les sociétés du groupe Sony ».

À propos de Carry1st
Carry1st est le premier éditeur africain de jeux et de contenus numériques. Sa mission est de diffuser des contenus de qualité sur les marchés frontières en résolvant des problématiques difficiles. Carry1st développe et publie des jeux, en octroie les licences et les monétise efficacement grâce à Pay1st, une plateforme de paiement alternative et une place de marché en ligne pour les jeux numériques. Carry1st a conclu des partenariats avec des sociétés telles qu’Activision, Supercell et Riot Games pour diffuser à grande échelle des jeux tels que Call of Duty: Mobile et Valorant et a lancé des jeux comme Africa Glam (Nanobit), Mancala Adventures, SpongeBob Krusty Cook–Off, Ludo Blitz et Mine Rescue pour les joueurs en Afrique. Carry1st a levé plus de 60 millions de dollars depuis sa fondation en 2018 et compte parmi ses investisseurs Andreessen Horowitz (a16z), BITKRAFT, Google, Riot Games et Nas.

À propos de Sony Ventures Corporation
Sony Ventures Corporation gère le Sony Innovation Fund (SIF), qui investit dans des entreprises technologiques émergentes à tous les stades de leur développement, ainsi que dans des start–ups qui cherchent à résoudre des défis environnementaux mondiaux. Le Sony Innovation Fund s’engage aux côtés de startups pionnières pour contribuer au développement de technologies de rupture, au lancement de nouvelles entreprises et à la protection de l’environnement tout en recherchant un retour sur investissement. Sony Ventures Corporation est basée au Japon. Pour en savoir plus, consultez le site www.sonyinnovationfund.com.

Pour plus d’informations, veuillez contacter :
Alexandra Lloyd de Nara Communications
lexandra@naracommunications.com


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Carry1st Announces Strategic Investment from Sony Innovation Fund http://www.kuwaitfinancialexpress.com/?p=309605/ Mon, 29 Jan 2024 17:15:28 +0000 http://www.kuwaitfinancialexpress.com/?p=309605 CAPE TOWN, South Africa, Jan. 29, 2024 (GLOBE NEWSWIRE) — Carry1st, Africa’s leading game publisher and digital commerce platform, announces a strategic investment by Sony Innovation Fund, the venture capital arm of Sony Group Corporation (“Sony”). Carry1st is the inaugural investment out of Sony Innovation Fund: Africa, which was established by Sony as an initiative to support the growth of entertainment businesses in Africa.

Driven by rapidly increasing technology adoption, Africa’s gaming industry has over 200 million unique players and is set to reach a market size of over $1 billion in 2024, according to data from Newzoo and Carry1st. While there is limited formal console presence, Africa presents an incredible growth opportunity for this sector, particularly with the rise of live services.

“We are thrilled to join forces with Sony Innovation Fund: Africa,” said Cordel Robbin–Coker, CEO and Co–founder of Carry1st. “The relationship will help Carry1st to drive the future of gaming in Africa. At Carry1st, we believe that the African console market is a massively underestimated opportunity. Our distinct regional capabilities, paired with Sony's expertise in gaming and entertainment, creates a powerful combination. Together, we hope to bring the best games in the world to players across Africa.”

“We are excited to welcome Carry1st as our first investment in Africa,” said Antonio Avitabile, Managing Director – EMEA, Sony Ventures Corporation. “We believe there is tremendous untapped potential for the gaming market in Africa, which we hope to experience and contribute to through our investment in Carry1st. We look forward to working closely with Carry1st’s world–class management team to support the company’s growth and explore potential business opportunities with Sony Group companies.”

About Carry1st
Carry1st is Africa’s leading publisher of games and digital content. Its mission is to scale awesome content in frontier markets by solving hard problems. Carry1st develops, licenses, and publishes games, and monetizes them effectively with Pay1st, a proprietary alternative payments platform and online marketplace for digital gaming goods. Carry1st has partnered with the likes of Activision, Supercell, and Riot Games to help scale games like Call of Duty: Mobile and Valorant and has launched games including Africa Glam (Nanobit), Mancala Adventures, SpongeBob Krusty Cook–Off, Ludo Blitz and Mine Rescue for gamers in Africa. Carry1st has raised over $60M since being founded in 2018 and counts Andreessen Horowitz (a16z), BITKRAFT, Google, Riot Games, and Nas as investors.

About Sony Ventures Corporation
Sony Ventures Corporation manages the Sony Innovation Fund (SIF), which invests in all stages of emerging technology companies as well as in startups solving global environmental challenges. SIF engages with pioneering startups to help fuel the development of disruptive technologies, launch new businesses, and contribute to the environment while seeking return on investment. Sony Ventures Corporation is headquartered in Japan. Learn more at www.sonyinnovationfund.com.

For more information, please contact:
Alexandra Lloyd at Nara Communications
Alexandra@naracommunications.com


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The Commonwealth of Dominica offers South African viable growth opportunities http://www.kuwaitfinancialexpress.com/the-commonwealth-of-dominica-offers-south-african-viable-growth-opportunities/ Fri, 29 Sep 2023 08:34:31 +0000 http://www.kuwaitfinancialexpress.com/?p=308632 Roseau, Sept. 29, 2023 (GLOBE NEWSWIRE) — The South African business landscape has become difficult with numerous economic and regulatory challenges that startups and business owners face, driving them to seek opportunities abroad. Many more South African businesspersons are exploring citizenship by investment (CBI) programmes. The Commonwealth of Dominica offers a Programme for South African businesspersons to grow and succeed.

South African entrepreneur Athi Rwexu's journey from local startup founder to global success story highlights the challenges faced by small businesses in South Africa. While her mathematics application, Beta–SigmaX, aimed to make math accessible to children worldwide, Rwexu found it more promising to seek support and investment in the United Kingdom than in her home country.

This trend of South African startups seeking opportunities abroad due to unfavourable conditions has caught the attention of the Department of Small Business Development (DSBD).

Mofalefa Mohoto, the acting deputy director–general of DSBD, acknowledged that many startups, especially in the tech sector, were moving overseas because of issues such as funding limitations and regulatory hurdles.

South Africa's tax policies and business regulations often hinder the growth of startups, pushing them to explore more conducive environments abroad.

The Southern African Venture Capital and Private Equity Association (Savca) reported a decrease in venture capital investment in South Africa in 2021, reflecting the challenges faced by startups seeking capital in the country.

One key issue is that South African financial institutions typically require a proven track record of returns before investing, a barrier that many startups cannot overcome. To address these challenges, DSBD has initiated a “start–up act movement” to tackle the regulatory issues constraining startups' growth and create an environment conducive to their success.

The goal is to foster high–tech startups that can eventually become major players, similar to the success stories in Silicon Valley and other innovation hubs.

Despite the challenges, there is optimism within the South African startup ecosystem. Rwexu believes that the ongoing discussions on startup support in South Africa are promising, and there is hope for a brighter future in the sector. However, for businesspersons who are struggling in South Africa, there is another potential avenue to consider – citizenship by investment (CBI) programmes in the Caribbean.

Citizenship by Investment Programmes for business start–ups

As South African entrepreneurs face hurdles in their home country, some are exploring alternative options to support their businesses and secure their future. CBI programmes, commonly offered by several Caribbean nations, present an appealing opportunity for South African small business owners seeking stability and growth. A notable destination that offers this CBI programme is the Commonwealth of Dominica.

The benefits of these Caribbean CBI programmes

Foreign Direct Investments

The Government of Dominica is actively promoting and facilitating foreign direct investment (FDI) in the country, with a strong emphasis on industries that generate employment, bring in foreign currency, and positively impact the local population.

To encourage businesses to set up in Dominica, the government has established various investment incentives through the Invest Dominica Authority (IDA). These policies include generous tax incentives, allowing duty–free importation of equipment and materials, exemptions from value–added tax on specific capital investments, as well as waivers on withholding tax for dividends, interest payments, and certain external payments and income.

Additionally, the IDA offers support to approved CBI projects, providing an attractive avenue for certain forms of foreign direct investment.

In 2021, the IDA introduced an Investment Promotion Strategy that targets four key sectors:

1. Organic agri–business.

2. Aquaculture and manufacturing.

3. Renewable energy.

4. Tourism.

These sectors are seen as critical for the country's economic growth. Dominica is also actively exploring opportunities in knowledge services, including business processing operations. Beyond these priorities, the government maintains an open stance toward FDI and continually evaluates other sectors for investment potential.

Importantly, Dominica welcomes foreign investors with open arms and imposes no restrictions on foreign control. Foreign investors enjoy the same rights as local nationals and can own up to 100 per cent of their investment. This approach underscores Dominica's commitment to providing a conducive environment for foreign businesses to thrive.

The IDA plays a crucial role in overseeing proposed investments seeking government incentives. Their evaluation ensures that each project aligns with national laws and serves Dominica's best interests while delivering economic benefits. This review process is transparent and involves a series of steps that investors must follow to secure a business license.

Dominica transforming into a digital economy

As part of the National Reset initiative, the government of Dominica has made a deliberate choice to allocate more budget resources to productive sectors. The aim is to encourage the emergence of new businesses and the growth of existing ones.

This strategy is geared towards generating additional employment, expanding the nation's economy, and contributing to a resilient and sustainable development path for Dominica. Key areas of investment include agriculture, value–added manufacturing, the blue economy, tourism, renewable energy, export–oriented services, the digital economy, and commerce.

Dominica has made significant strides in transitioning towards a digital economy, both in the private and public sectors. Private enterprises have introduced online banking, digital bill payment platforms, and online shopping. Many businesses have fully embraced digital processes.

The government has played a pivotal role in driving this transformation by introducing new digital services for public use each year. To further support the development of the digital economy, the government plans to invest directly in the country's young population.

Grants will be provided to support digital technology initiatives, empowering young people with skills, resources, and tools to excel in the digital era. The application process for these grants will begin in the first quarter of the fiscal year, and young individuals are encouraged to seize these opportunities.

One immediate benefit of the government's investment in the digital economy is the creation of online job opportunities. To date, 181 Dominicans have received training, and 109 have been engaged in online jobs on the global stage. An additional 60 individuals are participating in a 12–week training programme. These efforts reflect the government's commitment to enhancing the capabilities of its citizens and creating improved job prospects for them, aligning with the broader goals of national development.

The Government of Dominica supports businesses in the tourism sector

The Ministry of Commerce, Enterprise, and Small Business Development in Dominica has a clear mission to foster the growth of resilient businesses and promote economic transformation. They aim to create an environment that is supportive of business development, capable of adapting to climate–related challenges, and facilitating recovery from adverse climate events.

To achieve these goals, the government has implemented measures to encourage the organised growth of micro, small, and medium enterprises (MSMEs), which play a significant role in the private sector and contribute substantially to employment.

The government initially allocated funds to support these initiatives, and it has additionally secured more funds to aid MSMEs in developing and restructuring their businesses, enabling them to navigate the current economic challenges effectively.

In response to these efforts, the Cabinet has approved significant changes to the Small Business Support Unit (SBSU) Small Business Enterprise Development Grant application process. Grant assistance amounts now vary. This flexible approach considers factors such as the readiness of entrepreneurs, the level of innovation, expansion plans, export readiness, and the hiring of employees beyond family members.

These changes reflect the government's commitment to providing substantial support to small businesses and encouraging their growth and resilience in the face of economic challenges.

This Caribbean nation is not only a beautiful tropical paradise but also an inviting destination for entrepreneurs and investors looking to make a positive impact while enjoying the island's natural beauty and cultural richness.


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The Commonwealth of Dominica Enhances Security and Management of the Citizenship by Investment Programme http://www.kuwaitfinancialexpress.com/?p=308340/ Tue, 29 Aug 2023 08:00:00 +0000 http://www.kuwaitfinancialexpress.com/?p=308340 Roseau, Aug. 29, 2023 (GLOBE NEWSWIRE) — The Commonwealth of Dominica has taken significant steps to bolster the security and management protocols for its Citizenship by Investment Programme, aimed at fortifying the integrity and longevity of the programme.

Dr. Roosevelt Skerrit, the Prime Minister of Dominica, has been collaborating closely with various stakeholders, including international consultants, to conduct a comprehensive audit of the investment migration programme. Building on an initial audit undertaken last year by a UK consulting firm, the government has been actively implementing new and improved processes through the Citizenship by Investment Unit.

During his recent Budget Speech, the Prime Minister unveiled plans to enlist a globally vetted management consulting firm to oversee the overall operations and management of the Citizenship by Investment Programme. While Dominica already boasts a proactive due diligence process, the government is committed to its further reinforcement, vowing "to leave no stone unturned to strengthen it."

"We take this matter very seriously and will increase our efforts in showcasing our robust due diligence and risk mitigation efforts on all fronts." the Prime Minister affirmed.

Over the past 18 months, the Government of Dominica has undertaken several measures to elevate the security of its investment migration programme.

A United States–based firm has already conducted anti–money laundering and counter–terrorism financing training for all Citizenship by Investment Unit staff as the Unit undergoes restructuring. The CBIU was restructured under the supervision of an expert compliance officer to ensure that all procedures were updated, quality control measures strictly followed, and all IT systems upgraded.

The government made a bold move at the start of the year, giving notice of its intent to revoke the citizenship of those who made false declarations or misrepresentations in their applications, particularly relating to previous visa rejections from countries with which Dominica has visa–free treaties.

Dominica has also introduced biometric travel documents and updated its naturalisation certificate, enhancing its security features.

Citizens of the Kurdistan region in Iraq, Russia and Belarus do not qualify for citizenship in Dominica as international security authorities have flagged the regions as high risk. Moreover, the government introduced legislation providing an enhanced due diligence fee for applicants from specific countries. This enhanced due diligence fee offers the government additional resources to thoroughly scrutinise applicants from these countries.

The country also issued regulations to restrict citizens from changing their names.

Dominica has distinguished itself as the first Caribbean country to implement mandatory interviews as part of the citizenship by investment application process "" a requirement agreed upon with the United States at a roundtable earlier this year.

"We also devised a new rigorous risk assessment and hired firms from the United States and the United Kingdom to begin interviews with all CBI applicants," Prime Minister Skerrit said in the Parliament.

In addition to international firms in the US and UK conducting due diligence checks, Dominica's Financial Intelligence Unit will also assist with the due diligence process. This includes reporting rejected applicants to the JRCC monthly and permitting the JRCC to share that information with the other CBI jurisdictions in the OECS.

Dominica is leading discussions in the region to collaborate on safeguarding the citizenship by investment industry; and has taken measures to emphasise its dedication to cooperating with global stakeholders and enhance the due diligence process to reduce threats from illicit actors.

In addition to these recent changes, new risk mitigation actions include:

  • Thorough assessment and reduction of the number of agents and promoters of the country's Citizenship by Investment Programme, who will be strictly monitored, along with developers, to ensure compliance with current regulations governing the advertisement of Dominica's Citizenship by Investment Programme.
  • Strict enforcement of regulated citizenship fees to prevent any undercutting.
  • Strengthening of policies and legislation to maintain competitiveness and alignment with international best practices.

Dominica's rigorous due diligence and vetting processes make it extremely difficult for any illicit individual to qualify for citizenship. Background checks occur on the ground where the applicant lives and works, via online databases and now in person.

The Prime Minister has reiterated that Dominica will maintain robust due diligence processes to ensure the country meets international standards and alleviates any security concerns.

"We have fresh impetus to go back and relook where we can do even better in giving our international counterparts confidence in our security measures "" which are already some of the most robust in the world compared to other jurisdictions," he said.


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