10 teams to receive $1 million in total funding to support financial inclusion efforts for small businesses in emerging markets
JOHANNESBURG, South Africa, October 16, 2024/APO Group/ —
The Milken Institute and the Motsepe Foundation announced the 10 teams advancing to the Semifinalist Round of the Milken-Motsepe Prize in FinTech (https://apo-opa.co/3Y0GSEY), with each team receiving $100,000 in funding.
Responding to a global call for applications, this prize supports innovative solutions to expand access to tools necessary for financial inclusion across emerging and frontier markets.
The Semifinalists will participate in an Innovation Showcase at the Milken Institute’s Middle East and Africa Summit December 5-6, 2024, in Abu Dhabi, UAE. During this event, the 10 teams will pitch their innovations to a panel of expert judges and investors, and three teams will be selected to move on to the final round of the prize. The judges will evaluate the pitches based on the teams’ ability to deliver solutions that improve financial inclusion for under-resourced groups in emerging and frontier markets.
The prize will ultimately award $2 million in total prizes, including a $1 million Grand Prize. Following the December showcase, the Grand Prize will be awarded at the Milken Institute’s Global Conference in Los Angeles, in May.
“By supporting these pioneering teams, we aim to foster financial inclusion and empower entrepreneurs who drive economic growth and opportunities in their communities,” said Emily Musil, senior director, Milken Institute. “Our prizes help identify, support, and celebrate talent to ignite the entrepreneurial spirit and empower visionaries to turn their ideas for a better future into reality.”
These teams operate in nearly 30 countries across three continents, and their innovations hold the potential for significant breakthroughs in financial inclusion for underserved communities on a global scale. Over the next four months, the Semifinalist teams will test and scale their solutions, which will be evaluated for impact, scalability, and sustainability.
AZA Finance is a B2B FinTech company offering businesses low-cost, efficient, and secure financial services, including payments, currency exchange, and treasury, across all major currencies.
Chapa is an online payment gateway company with a developer-friendly API that simplifies integrating payment processing into websites and applications for Ethiopian businesses.
Our prizes help identify, support, and celebrate talent to ignite the entrepreneurial spirit and empower visionaries to turn their ideas for a better future into reality
Farmpawa is a crowd farming platform that connects investors with real farming assets, empowering farmers and driving sustainable agricultural growth.
Paycloud is a digital banking platform that addresses late payments in Africa by offering seamless payment processing, payment splitting, automated invoicing, and financial tools.
Nyla Bank is building Africa’s first digital Islamic bank with a goal of empowering 1 billion people with innovative, Shariah-compliant products and services that align with ethical principles.
Oze is a digital lending platform that bridges Africa’s credit gap by providing banks with a small and medium-sized enterprise- (SME) focused app that digitizes financial data, enabling risk assessment and lending to small businesses.
Trade Lenda is a banking platform tailored to SMEs, where loans can be accessed within one to six hours, and micro-savings can be achieved for business goals.
Verto is a business-to-business cross-border payments platform for businesses in emerging markets, powered by a unified network that eliminates intermediary fees, handles 49 currencies, and settles transactions faster.
West African Development Bank (BOAD) and PROPARCO Launch a Landmark €200 Million Cross-Financing Operation to Boost the Private Sector in the West African Economic and Monetary Union (WAEMU) Region
This structure directly addresses current challenges related to reforming the global financial architecture by introducing an innovative and catalytic financial instrument
Together with BOAD, we are reaching a major milestone in our commitment to boosting financing for African economies, particularly within the WAEMU region
NAIROBI, Kenya, May 14, 2026/APO Group/ –On the sidelines of the Africa Forward summit, the West African Development Bank (BOAD) (www.BOAD.org) and PROPARCO, a subsidiary of the AFD Group, announced the signing of an unprecedented €200 million financing agreement (equivalent to approximately CFAF 131 billion). Structured by Galite as a cross-currency transaction between the euro (EUR) and the CFA franc (XOF), this operation is a global first in both its nature and ambition.
This structure directly addresses current challenges related to reforming the global financial architecture by introducing an innovative and catalytic financial instrument. It enables:
More efficient allocation of resources through expanded access to the XOF market, helping diversify financing options for local businesses;
Greater stability through support for the WAEMU region’s foreign exchange reserves, ensuring stronger macroeconomic resilience;
Direct impact through the financing of transformative private-sector projects, a key driver of job creation in the region.
Françoise Lombard, Chief Executive Officer of PROPARCO, stated:
“Together with BOAD, we are reaching a major milestone in our commitment to boosting financing for African economies, particularly within the WAEMU region. This initiative is fully aligned with the momentum to reform the development finance architecture by providing a tangible solution to increase the mobilization of local-currency resources in support of the private sector and local economies.
I am delighted by this partnership, which embodies a truly win-win approach and reflects our shared determination to act with ambition and pragmatism to sustainably support the development of the private sector across WAEMU economies, particularly our clients in the region, to whom we will be able to offer more loans denominated in CFA francs.”
Serge Ekué, President of BOAD, stated:
“The partnership between BOAD and PROPARCO reflects the quality and depth of our strategic cooperation.
Through this initiative, BOAD is reaffirming its role as a mobilizer of resources by attracting additional investment for the benefit of the region. Expanding the range of available financing tools is essential to sustainably support the transformation of WAEMU economies.
This transaction marks an important milestone in our collective ability to channel greater financing toward projects delivering strong economic and social impact across Africa.”
Distributed by APO Group on behalf of Banque Ouest Africaine de Développement (BOAD).
Governor of the Central Bank of Egypt and President of Afreximbank Hold a Press Briefing on Egypt’s Ongoing Preparations to Host the 33rd Afreximbank Annual Meetings in Alamein
The briefing underscored the strong strategic partnership between Egypt and Afreximbank, while highlighting the Bank’s support for key sectors, including financial services, trade, industrial infrastructure, manufacturing, oil and gas, telecommunications, power, and construction
CAIRO, Egypt, May 14, 2026/APO Group/ —
H.E. Mr. Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), and Dr George Elombi, President and Chairman of the Board of Directors of Afreximbank (www.Afreximbank.com), held a joint press briefing at the CBE’s headquarters on 13 May 2026 to address preparations for 33rd Afreximbank Annual Meetings (AAM2026). The AAM2026 will be held under the patronage of H.E. President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, in Alamein city from 21 to 24 June 2026.
Attended by over 100 local and international media representatives, both in person and virtually, the briefing provided updates on preparations for AAM2026, expected participation, and Egypt’s role as host country for one of Africa’s leading annual gatherings focused on advancing the continent’s economic transformation.
In his remarks, H.E. Mr. Hassan Abdalla, Governor of the Central Bank of Egypt, reaffirmed Egypt’s commitment to the successful hosting of the AAM2026 and emphasised the country’s readiness to host the event as well as its long-standing partnership with Afreximbank to support Africa’s economic development, trade and investment.
Mr Abdalla said: “Egypt is honoured to host the 33rd Afreximbank Annual Meetings in Alamein, reflecting our continued commitment to supporting Africa’s economic integration, trade expansion, and sustainable development.”
He also noted that these Meetings represent a high-level platform for dialogue and the exchange of views on the future of African economic and financial cooperation.
He added: “The Meetings extend beyond conventional discussions to advance key continental priorities, including trade finance, regional integration, and the pressing need to reform the global financial architecture to better reflect the development needs of emerging economies.”
Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank, expressed his appreciation to H.E. Mr. Hassan Abdalla for his strong support and commitment to hosting AAM2026 in Alamein and for the efforts by all relevant institutions in coordinating these meetings in Egypt.
“Egypt and Afreximbank share a common vision to accelerate Africa’s economic development, industrialisation, and widespread economic prosperity across the continent.
“AAM2026 will provide a valuable opportunity to strengthen partnerships, unlock investment opportunities, and advance discussions on intra-African trade, Africa’s financial sovereignty, and its economic resilience in an increasingly complex global environment”.
Egypt and Afreximbank share a common vision to accelerate Africa’s economic development, industrialisation, and widespread economic prosperity across the continent
Dr Elombi added that “Through our Annual Meetings, Afreximbank aims to identify priority projects and actionable programmes that will accelerate the transformation of Africa’s trade infrastructure. Africa’s pace of growth will be driven by industrialisation and intra-African trade, and achieving this will require significant improvements in processing, logistics, and importantly, policy support from governments.”
The briefing underscored the strong strategic partnership between Egypt and Afreximbank, while highlighting the Bank’s support for key sectors, including financial services, trade, industrial infrastructure, manufacturing, oil and gas, telecommunications, power, and construction.
Additionally, the press briefing outlined the significant opportunities associated with Egypt hosting AAM2026, including enhancing the country’s position as a regional financial and business hub, supporting the Meetings, Incentives, Conferences and Exhibitions (MICE) sector, creating new opportunities for Egyptian businesses, investors and the broader private sector, as well as providing a major boost to tourism in Alamein.
Dr Elombi said that the Bank has provided approximately US$9.5 billion in financing to Egypt over the past three years. He also referenced the groundbreaking of the Afreximbank African Trade Centre (AATC) in New Administrative Capital in December 2025, noting that the landmark US$250 million development will strengthen Egypt’s role as a regional hub for trade facilitation, payments, logistics, and SME development.
Dr Elombi further outlined plans for the proposed pan-African Gold Bank, an initiative designed to formalise Africa’s gold value chains, strengthen central bank reserves, and reduce the continent’s dependence on offshore refining and external trading centres.
Over the years, Afreximbank’s Annual Meetings have become one of the leading platforms for shaping dialogue on Africa’s economic future and advancing intra-Africa trade. The 33rd Afreximbank Annual Meetings are expected to bring together Heads of State, government ministers, central bank governors, business leaders, academics, entrepreneurs, private sector investors, and development partners. They will deliberate on the key issues shaping Africa’s economic future and trade agenda, while advancing practical solutions for the continent.
The AAM2026 programme will offer policy discussions, plenary sessions, business and investment forums, deal-signing ceremonies, major announcements, networking events, bilateral meetings, and forums on intra-African trade and the African Continental Free Trade Area (AfCFTA). It will also feature presentations on trade finance, industrialisation, energy, infrastructure, and digital transformation.
Distributed by APO Group on behalf of Afreximbank.
DHL Express SSA is the most TAPA certified company in the Region and was the first company in the TAPA EMEA Region to attain multi-site certification for a Region
LAGOS, Nigeria, May 14, 2026/APO Group/ —
Increases TAPA certifications across the Region, total of 53 sites across Sub-Saharan Africa
DHL Express the most TAPA-certified company in SSA
Lekki contributes to DHL Express surpassing the 500 facility milestone in TAPA certifications worldwide
Part of global €250 million investment in world-class security infrastructure by DHL Express
DHL Express (www.DHL.com) has announced that its Service Center in Lekki (Nigeria) has officially been certified according to the Transported Asset Protection Association’s (TAPA) Facility Security Requirements (FSR). This certification contributes to the over 500 TAPA certified sites globally and increase the certifications across Sub-Saharan Africa to 53 sites across 19 countries as part of a multi-site certification.
As the world’s most TAPA-certified logistics provider, DHL Express continues to set the benchmark for world-class supply chain security. The certification of 53 facilities in SSA strengthens a network that has already exceeded 500 TAPA-certified facilities globally, supported by a worldwide EUR250 million investment in advanced, industry-leading security technologies and processes. DHL Express SSA is the most TAPA certified company in the Region and was the first company in the TAPA EMEA Region to attain multi-site certification for a Region.
Anthony Beckley, VP Network Operations and Aviation at DHL Express SSA said: “Security is a cornerstone of DHL’s operations and a critical enabler of trade across Sub‑Saharan Africa. By continuously strengthening security standards at our facilities across the region, we help protect our customers’ shipments while building confidence in the supply chains that connect Africa to the world. As African businesses expand their reach into global markets, they rely on trusted, resilient, and world‑class logistics partners. We are proud to support this growth through industry‑leading security practices, underscored by our achievement of 500 TAPA certifications worldwide.”
Security is a cornerstone of DHL’s operations and a critical enabler of trade across Sub‑Saharan Africa
TAPA (Transported Asset Protection Association) certification is a comprehensive process of membership, verification, and auditing designed to ensure the security of customer shipments throughout the supply chain. It is based on rigorous standards such as FSR (Facility Security Requirements) and TSR (Transport Security Requirements), which can be achieved through independent audits or, for Level 3 (basic), via self-certification by a registered Authorised Auditor (AA), followed by submission of documentation to TAPA for validation and issuance of a certificate typically valid for three years. The Security Requirements established by the Association are recognised worldwide as industry benchmarks, making TAPA certification an essential mark of excellence for customers seeking the highest levels of reliability and protection.
This achievement not only affirms DHL Express as the global leader in secure logistics but also highlights Nigeria’s strategic contribution to the company’s security excellence in SSA.
Adrian Whelan, SVP and Head of Global Security at DHL Express, commented: “The TAPA certification of Lekki and the 53 sites TAPA certified across the SSA Region highlights DHL Express’ commitment to providing our customers in Africa with world-class security infrastructure. Customers want to ship their valuable goods through a secure and resilient supply chain, and DHL Express provides the most secure and resilient supply chain, not only in SSA but globally”.
The TAPA FSR certification is a central element of the broader security strategy of DHL Express. As global supply chains become increasingly complex, certified operations ensure consistent protection, risk mitigation, and resilience across the entire DHL network.
The achievement of the TAPA FSR certification was formally celebrated on May 13 during an event hosted at the DHL Express Lekki facility in Lagos, Nigeria. The event brought together private and public sector partners who share the aim of building resilient, transparent, and high-standard logistics ecosystems across SSA.
Distributed by APO Group on behalf of DHL Express.
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