Trail Blazers use 2nd-half charge to get past Pacers

first_imgIndiana Pacers guard Tyreke Evans (12) defends Portland Trail Blazers forward Caleb Swanigan (50) during the first half of an NBA basketball game in Indianapolis, Monday, Oct. 29, 2018. (AP Photo/Michael Conroy)INDIANAPOLIS — The Portland Trail Blazers may not need to rely exclusively on their dynamic duo to throw scoring punches any longer.Their new supporting cast trades jabs pretty well, too, and it could make a real difference to their long-term prospects.ADVERTISEMENT Gov’t to employ 6,000 displaced by Taal MOST READ LATEST STORIES Trail Blazers: “It was a junky, slow game,” Lillard said.Pacers: “Those guys (Lillard and McCollum) can really score at a high level,” Oladipo said. “We kind of slowed them down. Unfortunately, we didn’t get the win.”UP NEXTTrail Blazers: Visit Houston on Tuesday, trying to snap a four-game losing streak in the series.Pacers: Hope to snap a three-game losing streak at Madison Square Garden when they face the New York Knicks on Wednesday.Sports Related Videospowered by AdSparcRead Next Will you be the first P16 Billion Powerball jackpot winner from the Philippines? View comments This time the All-Star guard missed his first five shots, didn’t score until the final seconds of the first half and wound up with a season-low 16 points on 5 of 13 shooting with one rebound and two assists. McCollum was 7 of 15 with six rebounds and one assist and they combined for three 3-pointers.In previous seasons, those numbers might have doomed Portland’s chances.But Swanigan softened up the Pacers with his early flurry and Collins delivered the knockout punch by repeatedly scoring in the fourth quarter to help Portland pull away.“The second unit came in and played really well,” said Collins, who matched his career high scoring total. “We ran the lead up and didn’t let it go down. In the second half, we did our job.”The result: Indiana lost its first home game of the season with a lackluster performance.ADVERTISEMENT Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Simmons shines in 76ers trump Hawks Japeth Aguilar embraces role, gets rewarded with Finals MVP plumcenter_img With Damian Lillard struggling Monday and C.J. McCollum scoring just 17 points, the Blazers got 17 points from Zach Collins and the first career double-double from former Purdue star Caleb Swanigan to put away the Indiana Pacers 103-93.“They’ve been great for us all season. They’ve been keeping us alive all season,” McCollum said, referring to Portland’s bench. “They’re the difference between us being an average team and a really good team.”FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSJapeth Aguilar wins 1st PBA Finals MVP award for GinebraSPORTSGolden State Warriors sign Lee to multiyear contract, bring back ChrissIt’s a series Portland has dominated.They’ve won three straight over Indiana and eight of the last nine, largely behind the play of Lillard who had scored at least 33 points in three of his six previous trips to Bankers Life Fieldhouse. And Lillard was coming off back-to-back 40-point games. Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Nadine Lustre’s phone stolen in Brazil Allen Durham still determined to help Meralco win 1st PBA title Victor Oladipo had 21 points, nine rebounds and seven assists while Darren Collison added a season-high 17. Thaddeus Young added 16 points and Myles Turner had 10 points and nine rebounds on a night coach Nate McMillan hoped to see a stronger performance on defense and on the glass.He wasn’t satisfied with much.“We’re still working on establishing ourselves as a team, what works for us as a team — defending hard, rebounding the ball,” McMillan said.The Pacers appeared to be cruising early in the second half when they took a 57-49 lead.But the Trail Blazers charged back quickly by scoring five straight points, retook the lead during a 10-2 run and extended their 71-69 advantage by starting the fourth quarter on an 8-2 run.Indiana didn’t get closer than five the rest of the way as Swanigan had 11 points and 10 rebounds, both career bests.TIP-INSTrail Blazers: Evan Turner, who once played for Indiana, was one of seven players in double figures. He had 13 points. … Portland committed 18 turnovers, their worst total this season in a non-overtime game, but went 17 of 18 from the free-throw line and had a 50-35 rebounding edge. … The Blazers drew four offensive foul calls in the first six minutes of the game.Pacers: The free-throw shooting woes continued as the Pacers went 13 of 20 from the line. They were also 6 of 19 on 3s. … Turner had three blocks to tie James Edwards (391) for No. 8 on the franchise’s NBA career list. … Colts kicker Adam Vinatieri received a blue No. 4 jersey between the first and second quarters in honor of becoming the NFL’s career scoring leader Sunday.THEY SAID IT Gretchen Barretto’s daughter Dominique graduates magna cum laude from California college Don’t miss out on the latest news and information. Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Tim Cone, Ginebra set their sights on elusive All-Filipino crownlast_img read more

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Provincial sports funding up for grabs

first_imgInterested groups can apply for grant funding of up to $2,000 by Jan. 31, 2011.Applications are available here. The Province is investing more money into various sports programs across B.C.The Minister of Community, Sport and Cultural Development announced that an extra $100,000 will be directed towards the Local Sport Development Program.- Advertisement -Stephanie Cadieux says the funding will help British Columbians from all walks of life reap the health and social benefits of participating in various sports.The Local Sport Development Fund had been created in 2008 by the 2010 Legacies Now organization.In the past two years, two communities in the Peace River region have received grant funding from the Program.The Fort St. John Elks Speed Skating Club received a $2,500 grant in April 2009 and the Hudson’s Hope Outdoor Recreation Club received a $910 grant in October of 2008.Advertisementlast_img read more

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Trash haulers for commercial customers hit the picket lines

first_imgLos Angeles is the most competitive trash market in the country, and Waste Management is worried businesses will use other trash haulers, Cole said. The company is bringing in workers from California and other parts of the country to replace the strikers. “It’s not acceptable to us that our customers should have to suffer service interruptions because of a strike,” Cole said. On a dust-caked industrial road in Sun Valley, more than 100 workers carried picket signs outside Waste Management’s Bradley Landfill. Picketers chanted and briefly blocked trucks pulling out of the facility before letting the trucks drive by. “We feel that we have proven our point, let’s put it that way, because I know pretty much that they’re hurting, and I hope we come to an agreement soon,” said striking trucker Adam Sanchez, 52, of North Hollywood. Waste Management serves about 12,000 customers in the city of Los Angeles, said Enrique C. Zaldivar, interim director of sanitation for the city. Most of those are businesses – everything from shopping centers to factories – but a few customers are large apartment complexes, he said. Waste Management competes with 140 private trash-hauling companies serving L.A. businesses, Zaldivar said. The city’s own sanitation workers pick up residential trash. alex.dobuzinskis@dailynews.com (818) 546-3304160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGame Center: Chargers at Kansas City Chiefs, Sunday, 10 a.m.The company made three offers since negotiations for a new contract began in July, Phillips said. The union decided not to recommend ratification of the first two offers, but after the latest offer, union officials told workers they should ratify it, he said. Despite that, the workers voted Wednesday to reject what Waste Management called its final offer. The truckers make up to $17.80 an hour, which is less than trash haulers make in other major metropolitan areas, Phillips said. “We’re not going after a company that doesn’t have the resources to compensate our workers,” Phillips said. “They’re a very profitable, publicly traded company.” SUN VALLEY – Waste Management Inc. workers went on strike Friday, affecting hundreds of thousands of residents and businesses in Los Angeles County, but mostly just commercial customers in the San Fernando Valley. The strike began about 3 a.m. when union representatives for the sanitation workers turned down the latest contract offer made by Waste Management. “Frankly, I think it’s shocking and it’s disappointing that the workers chose to strike when their leadership was recommending ratifying this deal with Waste Management,” said Kit Cole, a company spokeswoman. About 450 Waste Management workers went on strike Friday at locations in Sun Valley, Long Beach and Compton, said Jay Phillips, president of Teamsters Local 396, the union representing the workers. last_img read more

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KILLER LEAVES ISLAND AGAIN AS GARDA CARRY OUT ROUTINE PATROLS

first_imgA killer has fled a Co Donegal island after the arrival of Gardai following tensions over his return. Arranmore IslandStephen Boyle, 44, fled Arranmore Island in April last year after being released from prison just a few days earlier.He had been jailed for six years in 2012 after being on remand since 2009 for the killing of Paul Boyle in a bar on the island. Boyle killed 19-year-old Paul in October 2009 by smashing a glass over his head in a bar on the island.An inquest into Paul’s death heard how other people tried desperately to save the young man’s life after he was set upon in an unprovoked attack.Stephen Boyle subsequently pleaded guilty to manslaughter and was jailed.Boyle arrived back on the island on the last ferry on Thursday night driving a silver 5 series BMW motorcar with personalised plates. The late Paul BoyleLocals on the island, which has a population of just 500, became agitated at the arrival of the killer.One islander, who asked not to be named said “This situation has divide the island. Some people think he should be allowed come back but most people think he has a brass neck.“A lot of people are on edge here because his victim’s family obviously still live here and he will come face to face with them all the time.“There’s only one road on the island and they will meet. There are obvious tensions and people are afraid that something could happen. It’s a very awkward situation.”Island spokesman Jerry Early, declined to make a comment on the situation. Although there is no Garda presence on the island and the last time Gardai were on the island was last summer.Two uniformed Gardai in an official patrol van, arrived on the 5pm ferry on Saturday evening.It is understood that killer Boyle also left the island at this time.The Gardai, having patrolled the island and making their presence known, left again on the 12.30pm ferry yesterday (SUN). EndsKILLER LEAVES ISLAND AGAIN AS GARDA CARRY OUT ROUTINE PATROLS was last modified: March 29th, 2015 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:Arranmore IslanddonegalGardaikillerPaul BoyleStephen Boylelast_img read more

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FIFA publishes report into 2018 and 2022 World Cup bidding process after leak

first_imgFIFA has taken the dramatic step of publishing a controversial internal report into the 2018 and 2022 World Cup bidding process after it was leaked to a German newspaper this week.Produced by FIFA’s chief ethics investigator Michael Garcia in 2014, the report’s contents have been kept secret until Bild obtained a copy and started publishing it on Tuesday.The first set of revelations from the so-called Garcia report were not particularly new but still painted a bleak picture of the background to the infamous 2010 vote that gave the 2018 World Cup to Russia and the 2022 World Cup to Qatar. More damning revelations about the Qatari bid, however, were expected from Bild on Wednesday, only for FIFA to spike its guns by publishing the whole report on its website.In a statement, FIFA said the new bosses of its independent ethics committee, chief investigator Maria Claudia Rojas and lead judge Vassilios Skouris, had taken the decision.It said FIFA president Gianni Infantino and the current members of the FIFA Council had been calling for this move for over a year but had been blocked by the predecessors of Rojas and Skouris, Cornel Borbely and Hans-Joachim Eckert, who were unceremoniously replaced last month.Borbely co-authored the report with Garcia and Eckert wrote a highly contentious 42-page “summary” of the report which Garcia immediately disowned, before resigning.The FIFA statement added: “The ethics committee will meet in its full composition under the new chairpersons for the first time next week, and it was already planned to use this opportunity to discuss the publication of the report.“However, as the document has been illegally leaked to a German newspaper, the new chairpersons have requested the immediate publication of the full report (including the reports on the Russian and US bid teams, which were conducted by Mr Borbely alone) in order to avoid the dissemination of any misleading information.“For the sake of transparency, FIFA welcomes the news that this report has now been finally published.” 1last_img read more

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Drugs help AIDS patients live well into senior years

first_img It works. Though he suffers from diarrhea, headaches, uncontrollable bleeding and continual pain in his feet, among other things, he’s alive. “I am certainly one of the lucky ones,” said Grand, a retired physician who still works with AIDS patients. He keeps a reminder of how lucky he is pinned to his living-room wall. It’s a picture taken at Keith’s, a North Hollywood bar, in the late 1970s. His arm is around his boyfriend, and next to them are three other friends. Only he survives. The other men pictured died from AIDS long ago. “I am hanging in there, holding on,” he said smiling, as he sat in his living room across from one of his good friends, Jack Fulkerson, a 60-year-old living with the disease. Both men had prepared for their deaths more than a decade ago, giving away prized possessions. Grand sold his four-bedroom home in Sylmar only to live in a rented apartment in North Hollywood. Fulkerson also sold his home and purchased a cremation service for himself. He was inspired by his 6-foot-tall boyfriend, whom he watched wither down to 98 pounds before dying of AIDS in 1986. “No services at all. I thought, ‘I don’t want to be beneath the ground,’ because I thought if this thing gets ahold of me, I know how I will look,”‘ Fulkerson said. Both men never dreamed of having the future they have now. Even with health complications, they volunteer to work with AIDS patients, go to the movies and celebrate with friends. Neither has ever been hospitalized for complications from AIDS. Still, Grand points out, the funerals have not stopped, as friends continue to succumb to the disease. Even more troublesome is the cavalier attitude he sees among many young gays, whose only reference points for men with AIDS are slick drug company advertisements showing shirtless, muscled men. True, newer AIDS treatments extend lives, but that life is difficult, Grand said. And even with those treatments, there are unknowns. Doctors worry that they are only now beginning to learn the long-term effects of some of these powerful and costly drug cocktails. Experts say there are indications that some of the newer anti-retroviral drugs used to treat AIDS accelerate heart disease, could cause high cholesterol over prolonged periods and also bring about diabetes and high blood pressure. These are health problems already affiliated with old age and could complicate treatment. “This is really new territory,” said Michael Montgomery, chief of the Office of AIDS for the California Department of Health Services. “Anti-retroviral drugs are highly toxic medications, and we seem to be seeing problems with heart disease and other illnesses.” Most of the highly toxic and common drugs used to treat AIDS have only been on the market for about 10 years. And though researchers say they show no signs of causing long-term kidney or liver problems, they might interact in unknown ways with diseases that already arise during old age. Grand believes he acquired diabetes through his medication and he worries about controlling the secondary effects of the new drugs that are supposed to extend his life. “Nobody knows the extent of taking these drugs over a long period of time,” Grand said. What is known is the cost. The older an AIDS patient gets, the more expensive the treatment. An average patient between the ages of 51 and 60 costs the state $9,007 annually, compared with $7,609 for an 18- to 30-year-old. As patients age in the system, they often need more costly drugs and more medical attention. By the time a patient passes age 60, he or she costs the state $9,421 annually. State and local officials don’t have estimates about the average life span of an AIDS patient. But if the prognosis of longer lives holds true, there could be a surge in over-50 AIDS patients in Los Angeles. The bulk of those living with AIDS – 44 percent – are currently between 40 and 49 years old. “Because of the success of the treatment available, we don’t know what is going to happen,” Montgomery said. Rachel Uranga, (818) 713-3741 rachel.uranga@dailynews.com 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREBlues bury Kings early with four first-period goals Over the next decade, medical professionals predict, the ranks of seniors living with AIDS will grow as treatments extend their lives well into their golden years. In Los Angeles County alone, the percentage of those 50 and older living with AIDS has steadily climbed from 14 percent in 1997 to more than 25 percent in 2004, the most recent statistics show. And about 6 percent of those AIDS patients are more than 60 years old. Some clinics report treating patients into their 80s. “We literally have people that will not die from AIDS,” said Eric Daar, chief of HIV medicine at the Los Angeles Biomedical Research Institute at Harbor-UCLA Medical Center. “It was once assumed that everyone with HIV infections will die from AIDS. Prior to good therapy, the average person would develop symptoms in eight to 10 years. Now, with good therapy, they may live. “We will often joke in the clinic that the least of a person’s problems is HIV. Their viral counts may be low, but they have diabetes or high blood pressure.” To combat the disease, Grand swallows five pills every morning and again at night. He takes an additional 11 pills to counter side effects from the disease and its treatment, including diabetes, high cholesterol and arrhythmia. NORTH HOLLYWOOD – Like many people his age, Terry Grand gulps down a handful of powerful prescription drugs for his ailments. But the 66-year-old isn’t treating many of the diseases that afflict other seniors. Grand has lived with AIDS for more than two decades and is part of a growing older generation of HIV sufferers expected to die of old age – not a disease that has decimated millions. “I expected I was going to die because all my friends died. I had given away everything valuable,” Grand said. “It amazes me that I am still alive with the years that I have been affected.” last_img read more

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Chelsea v West Ham line-ups: Terry back in three Chelsea changes, Hammers striker returns

first_imgJohn Terry makes his first Chelsea start in five weeks as one of three changes to the line-up that lost at Everton last week.Terry’s return means Branislav Ivanovic reverts to right-back and Cesar Azpilicueta switches back to left-back, with Kenedy pushed into a more advanced role.With Diego Costa suspended, Loic Remy gets the nod up front for his first home league start of the season.Oscar comes in to midfield as Nemanja Matic and Pedro drop out.West Ham also make three changes, after the 1-1 draw at Manchester United last time out.Adrian returns in goal, after Darren Randolph played in the FA Cup, while Emmanuel Emenike and Andy Carroll drop to the bench.Enner Valencia starts a league game for the first time since 13 February, while Diafra Sakho plays up front.Chelsea: Courtois; Ivanovic, Cahill, Terry,Azpilicueta; Mikel, Fabregas; Willian, Oscar, Kenedy; Remy. Subs: Begovic, Baba, Matic, Loftus-Cheek, Pedro, Traore, Pato.West Ham United: Adrian; Antonio, Reid, Ogbonna, Cresswell; Kouyate, Noble; Lanzini, Payet, Valencia; Sakho.Subs: Randolph, Oxford, O’Brien, Obiang, Song, Emenike, Carroll.Follow West London Sport on TwitterFind us on Facebooklast_img read more

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South Africa writes off R1bn Cuban debt

first_img8 December 2010 Trade and Industry Minister Rob Davies has announced the cancellation of a R1-billion debt owed by Cuba to South Africa as part of a new trade agreement between the two countries. Davies, who was accompanying President Jacob Zuma on a two-days state visit to Cuba, said on Tuesday that the debt had become a “hindrance” to trade and economic development between Cuba and South Africa. The debt was incurred during the 1990s, when Cuba purchased diesel engines from South Africa. He said South African businesses demanded cash in advance because the Export Credit Insurance Corporation of the department could no longer insure Cuba’s orders as it had exhausted its credit limit. “We are re-opening the credit lines so that we can start trading actively again,” Zuma said. Apart from cancelling the debt, South Africa has also offered Cuba credit line package guarantees to the value of R70-million rand and a further R40-million rand to support Cuba with seeds and fertilizers following the hurricane that devastated Cuban agriculture in 2008, About R100-million from the African Renaissance Fund will be made available for purchases from South Africa. It is envisaged that this package will help to reinvigorate trade and investment between the two countries. South African exports to Cuba had fallen from R82-million in 2008 to a mere R1-million this year. South Africa and Cuba have strong relations dating back to the struggle against apartheid. In another landmark agreement, Home Affairs Minister Nkosazana Dlamini-Zuma signed an agreement on the waiver of visa requirements for holders of diplomatic, official and service passports. The agreement entitles Cuban and South African citizens holding such travel documents to enter and remain in the respective countries for up to 90 days without visas. Source: BuaNewslast_img read more

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Ways of giving on the agenda

first_imgThere are different ways of giving in community philanthropy, was one of the discussions held at the Global Summit on Community Philanthropy in Johannesburg.Delegates from across the world attended the Global Summit on Community Philanthropy, held in Johannesburg on 1 and 2 December 2016. Discussions included ways to mobilise people and to get donors to participate in grantmaking. There was also speed networking. (Image: Melissa Javan)Melissa JavanFinancial capital was not the only means of philanthropy, former US ambassador to South Africa James Joseph said at the opening of the Global Summit on Community Philanthropy, where he was the main speaker.More than 350 delegates from across the world attended the two-day summit, which was held at the Turbine Hall in Johannesburg. Of them, 11% lived in Johannesburg, 48% travelled more than 16 hours to be at the event, and 20% travelled between eight to 16 hours.The summit, which took place on 1 and 2 December 2016, was the first of its kind. Its aim was for delegates to discuss how local giving could shift power to communities and local institutions. The summit was organised by the Global Fund for Community Foundations.The theme was #ShiftThePower.Gerry Salole (far right), chair of the Global Fund for Community Foundations, moderates the discussion on “#ShiftThePower, and what needs to change?” at the Global Summit on Community Philanthropy, held in Johannesburg on 1 and 2 December 2016. The panellists are James Joseph (far left), former US ambassador to South Africa; Hilary Pennington of the Ford Foundation; and Sibongile Mkhabela, Nelson Mandela Children’s Fund CEO. (Images: Melissa Javan)Different ways of givingJames was also a panellist. He spoke about the different ways of giving to communities as a philanthropist. “You can provide intellectual capital. Giving people the information they need – that is a powerful thing.“Let’s not only depend on financial capital,” he said. “Think of how you can influence those networks.”James challenged philanthropic leaders to take risks, to not be afraid to stand for something. “Act wisely and boldly, without fear. Managers impose order, leaders take risks.“Think big, respond boldly to great issues facing our communities.”While charity was good, he said, justice was better. “When you provide help, you provide hope.”To make more of a community, James added, use your social capital. “Respect for the different is the first thing to find common ground. Fear of the different is fear of the future.”Keep up with your visionSibongile Mkhabela, CEO of the Nelson Mandela Children’s Fund, advised communities to defend their right to be themselves. “Keep up with your own vision, your own truth. Don’t let anyone define you.”She also pointed out that many people who worked on the ground were expected to get little or no payment for what they did. It was unfair that those who managed the grant funding, on the other hand, earned a lot of money and discussed issues at hotels.Hilary Pennington, the vice-president of education, creativity, and free expression at the Ford Foundation, said initiatives created by young people, such as #BlackLivesMatter, showed the compassion and community of this generation.The American foundation is a global philanthropic organisation.“We must interpret the environment,” said Pennington, adding that networks were important.Grantmakers had a lot in common, Pennington said: “We have to show how our collective work is making people’s lives better.“We have to be smart, strategic and stay connected.”The participantsGail Jacobs of the West Coast Community Foundation and Mamo Mohapi of the CS Mott Foundation are two South African delegates at the Global Summit on Community Philanthropy, held in Johannesburg on 1 and 2 December 2016.People such Gail Jacobs of the West Coast Community Foundation in South Africa and Antonia Autuori of the organisation Fondazoine della Comunita Salernitana in Italy shared similarities in projects to which they gave grant funding.For example, each one of their projects concerned helping people with physical disabilities.Jacobs’ foundation supported a youth group in Eendekuil on the West Coast. The group, comprising more than 10 people, raised funds to help the needs of their community. “The youth identified three physically disabled individuals in their community. They communicated with these people, as well as their community and decided that they would build appropriate ramps outside their houses.“This is to give the people with physical disabilities easier access and mobility.”The youth were busy building the ramps during the week of the summit. “It took them two years to raise funds for this project,” said Jacobs. “They sold goodies for example at rugby matches.”Antonia Autuori from Italy says she is keen to hear how others run their community philanthropy projects, at the Global Summit on Community Philanthropy, held in Johannesburg on 1 and 2 December 2016.Autuori said that they had identified 18 people with disabilities in Salerno, in southern Italy. “We funded this project to renovate a building for the 18 people. On 10 December we plan to open the building for them to live there.”Her organisation also planned to hold workshops for these beneficiaries. “They will make small, hand-crafted things and do things such as grow olives.”Delegates also split into in smaller groups to discuss various topics, such as “Resources: are we addicted to scale?” and “Participation and mobilising people: models of participating grantmaking”.More about the conferenceJenny Hodgson, the executive director of the Global Fund for Community Foundations, said the summit brought together hundreds of people from 60 countries. “Community philanthropy taps into the drive of local people to help each other, a naturally occurring asset found in societies and cultures.“In some countries, the wealthy individuals are establishing their own foundations and, in others, a growing middle class has its own disposable income, and an increasing appetite for giving to social causes.”She added that community philanthropy organisations – such as community foundations, women’s funds, environmental funds, social justice funds – raised and gave local money and other assets. “In doing so, they involve local people in development processes and decisions in new ways, making them ‘co-investors’ rather than passive ‘beneficiaries.’”Why do we call people beneficiaries. If we are serious about #ShiftThePower then all are donors. It isn’t just about money. All contribute.— Marcia Anne Dwonczyk (@creativma) December 1, 2016Hodgson said that over the past 10 years the Global Fund had aimed to grow a network of people who wanted to give. “The characteristics (of the givers) we’ve seen all over the world are assets, capacities and trust. These three things connect them.”Because this was an empathetic sector, relationships were important, she said. “It’s not enough to be a grantmaker. The quality in the way we do our work is critical. Institutions matter.”Would you like to use this article in your publication or on your website? See Using Brand South Africa materiallast_img read more

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A billion dollars to invest in Africa

first_img19 June 2015Afro pessimists step aside, because the big leagues are bringing their green bucks to Africa.That’s the message from TPG Growth and Satya Capital, which announced a billion- dollar investment partnership in Africa on 18 June.The partnership is TPG’s first African-focused investment vehicle. It will invest in growth stage companies and the next generation of entrepreneurs across the continent.Satya managing partner Moez Daya said the partners were looking for entrepreneurial partnerships “north of the Limpopo River” and which could benefit South African businesses.“The growth of the consumer face middle class is greater in sub-Saharan Africa,” he said. “South African growth is a lot more constrained. Growth beyond South Africa is faster, but more risky.“The business we do is partnering great companies, those who are breaking through the [Limpopo] border. We will be the ideal partners for South African companies wanting to do that. We bring capital, tools, know-how and the relationships that we’ve built across Africa.”Big investmentSatya Capital was started by Sudanese-British billionaire Mo Ibrahim, who sold his African-based mobile communication company Celtel for $3.4-billion (about R42- billion) in 2005.TPG, the global private investment firm, has $74-billion of assets under its management, while TPG Growth, its middle market and growth equity investment platform, has $7-billion. The latter’s current and past investments represent a mix of disruptive and innovative companies across tech, retail and entertainment including Uber, Airbnb, Box, Domo, Beautycounter, Ride, Angie’s Artisan Treats, Fender, SurveyMonkey, Evolution Media and STX Entertainment, among others.The partnership is TPG’s first African-focused investment vehicle. It will invest in growth stage companies and the next generation of entrepreneurs across the continent.The partnership with Satya Capital, an independent investment firm focused on Africa, brought deep regional expertise, relationships and on-the-ground experience, said Daya.Growth focusThe money will be provided by TPG Growth, which will look for companies and entrepreneurs in all sectors that are in need of capital to help them grow, including in health care, technology, media and telecommunications, consumer and financial services.While Satya normally targeted investments of between $20-million and $150- million, this partnership would allow it to broaden the scope to between $1-million and $200-million, said Daya.“It is exciting for African entrepreneurs looking for investors,” he said. “TPG is willing to invest up to $1-billion in Africa provided it is the right company. They are not bound by geography, but go where the opportunity is. However, this partnership allows them to focus more on the growth in Africa.”Daya, the former chief executive of Celtel International, said that business was a “landmark opportunity and company” for Satya Capital. “We’ve [Satya] been operating for seven years in Africa and built a portfolio of companies.”Satya Capital, which has capitalised $300-million in Africa, focused on an evergreen model. “That means we keep recycling the money within a company instead of withdrawing our investment,” he explained. “We invest in companies without a strict limit on when to leave, which gives businesses the ability to realise their full potential and brings stability,” he said, adding that the partnership with TPG was not part of his group’s evergreen strategy.Africa riskDaya said the risk of doing business in Africa had micro and macro elements.“There is a risk who you do business with and who you partner with, which is something we factor in,” he said.“South Africans are used to working in private equity, but that is not the case in sub-Saharan Africa. A lot of businesses are used to the old way of doing business, but they need to start looking to the new way. It’s a challenge for them and that’s the execution risk.“Then there is the risk of economy and infrastructure and political risk that goes with doing business in sub-Saharan Africa,” he said. “You also have depreciation issues, but the underlying growth exceeds most of those risks.”Source: News24Wirelast_img read more

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