Company: KOYNU
Filing Date: 2025-06-18
Form Type: S-1
Source: 0001829126-25-004586
Chunk: 234

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-06-18
Form: S-1
Chunk 234
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7%) and Latin America (1.7%) over
the same period. We believe African demographics are arguably the best in the world, with population growth to grow by 87% between 2020
and 2050 and reach 2.5 billion. By 2025, 45% of all Africans will be urbanized. As of 2020, consumers in Africa’s large metropolitan
areas spent 79% more than national averages on goods and services.

In particular, collective
findings by Google and the IFC indicate that the region’s internet economy has the potential to contribute $180 billion to Africa’s
economy by 2025, and estimates that Africa’s internet gross domestic product may rise to $712 billion by 2050. In addition, these
collective findings indicate that, despite the setback from COVID-19, the resilience of the internet economy, coupled with private consumption,
strong developer talent, public and private investment, investments in digital infrastructure, and new government policies and regulations
will continue to drive this growth in Africa.

South Asia

With a population of 419
million and a nominal GDP of approximately $775 billion as of 2023, the economies of Pakistan and Bangladesh have sizable populations
and have demonstrated fast economic growth. In particular, Bangladesh has grown its GDP in excess of 7% per annum since 2014.

Smartphone penetration in
Pakistan has grown to nearly 98 million subscribers, or 6.5 times since 2013 as shown by the Pakistan Telecom Authority. According to
the Bangladesh Bureau of Statistics, Bangladesh has over 89.9% smartphone penetration as of 2022.

As mobile adoption in both Pakistan and Bangladesh switches from 3G and 4G to 5G, we believe there will be tremendous opportunities as the share of people online grows. In particular, we believe South Asia presents tremendous market opportunities for new economy companies.

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Southeast Asia

With a population of 678
million and a nominal GDP of approximately $3.9 trillion in 2023, we believe the Association of Southeast Asian Nations, or ASEAN, made
up of countries in Southeast Asia including Indonesia, Thailand, Singapore, Vietnam, the Philippines, Malaysia, Brunei Darussalam, Myanmar,
Cambodia and Laos) will become a major regional economic force and a driver of global growth. ASEAN remains one of the fastest growing
regions in the world with most economies seeing growth of 5