Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 218

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 218
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 future economic source and a
driver of global growth. Over the last decade GDP grew by 2.8% per year between 2013
and 2023, more than twice that of the EU-28 (1.5%), and Latin America (1.4%) over the same period. We believe African demographics
are arguably the best in the world, with population growth to grow by 100% between
2024 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. Despite the setback from COVID-19, we believe 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 9% per annum since 2016.

Smartphone penetration in Pakistan has grown to nearly 98 million subscribers, or 6.5 times since 2013 as shown by the Pakistan Telecom Authority.
Bangladesh has over 40% smartphone penetration.

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 677 million and a nominal GDP of approximately $3.8 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