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LemFi, the trusted financial services platform designed for immigrants, has secured $53M in Series B funding led by Highland Europe

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LemFi

The new round brings LemFi’s total capital raised to $85 million to date

LONDON, United Kingdom, January 14, 2025/APO Group/ —

  • LemFi is transforming how immigrant communities access financial services, starting with international remittance and payments to ease financial hurdles
  • The platform enables diaspora communities in Europe and North America to move money reliably and affordably to emerging markets, including China, India, Kenya, Nigeria and Pakistan
  • Since its launch in 2021, LemFi has grown to over one million customers and recently crossed $1 billion in monthly transaction volume

LemFi (www.LemFi.com), the platform transforming how immigrant communities access financial services, has raised $53 million in Series B funding led by Highland Europe with participation from previous investors Left Lane Capital, Palm Drive Capital, Endeavor Catalyst and Y-Combinator. The new round brings LemFi’s total capital raised to $85 million to date.

Founded in 2021, LemFi is building the trusted financial services platform for immigrant communities worldwide. Starting with payments and remittances, LemFi enables users to open multi-currency accounts and send and receive money globally, reliably and at a low cost. With over one million users across Europe and North America sending money to emerging markets, including India, Kenya, Nigeria and Pakistan, LemFi recently crossed $1 billion in monthly transactions. This is set to increase further, with LemFi adding Asia, including China, to its platform, growing 30% month-on-month.

More than remittance

Every year, millions of people relocate abroad to start new lives, and money transfers remain an important financial support mechanism to their home countries. For emerging markets, remittances are an important source of foreign exchange and can exceed foreign direct investment in some cases. In 2023, India alone received $120 billion in remittances (https://apo-opa.co/4af22F6), and the African remittance market is on track to reach $500 billion by 2035 (https://apo-opa.co/4agEXSt). Yet incumbent banks and private agents, which charge high commission rates and take days for transactions to complete, still corner about 60% of the market (https://apo-opa.co/4ajxqlP).

By targeting the communities most in need, we’ve built LemFi into the go-to remittance service for one million people, supporting them in building wealth across 20 countries

LemFi has become the trusted financial partner for diaspora communities in Canada, the UK and the USA, who send money home to 20 countries. After spending four years building trust among its user base, LemFi is now in the perfect position to provide further services and features to build a full-stack financial services hub for immigrants globally.

From payments to transforming financial services

LemFi’s founders Ridwan Olalere (CEO) (https://apo-opa.co/4aegH3B) and Rian Cochran (CFO) (https://apo-opa.co/40uNjCT) met whilst working at fintech unicorn OPay, incubated by Norwegian browser provider Opera. Olalere had previously worked in software development before becoming OPay’s product lead, where he met Cochran, the company’s finance director. After Olalere left for a stint as an Uber Country Manager, the duo combined their experiences across fintech and payments to build LemFi. They now oversee a 300+ strong multicultural team across Europe, North America, Africa and Asia, drawing on their own experiences to make financial services universally accessible.

Using the new funding, LemFi will focus on growing the company in three core areas: building out the platform to extend its financial services offering, scaling its payment network licenses and partnerships to provide hyper-localised service, and hiring talent globally to support its next growth stage.

Ridwan Olalere, co-founder and CEO of LemFi, said: “When we started building LemFi, we were told remittance had already been solved. But for too many people, it is still too slow, cumbersome and expensive with customers telling us that in some instances it was cheaper to send money from the US via Canada than directly to their families back home. By targeting the communities most in need, we’ve built LemFi into the go-to remittance service for one million people, supporting them in building wealth across 20 countries. We’re not stopping there: this new funding will support us in our mission to build the financial services hub for immigrants globally from adding new features to expanding to new countries. We’re delighted to be partnering with Highland to help us scale LemFi into a fintech giant.” 

Sam Brooks, Partner at Highland Europe, said: “LemFi’s mission to provide trusted, reliable access to financial services for immigrant communities has inspired an incredibly loyal customer base and has generated impressive growth over the past several years. In addition to the success in initial geographies, we are excited by LemFi’s continuing international expansion given the extent of the global problem they are solving. Ridwan and Rian are fantastic leaders, and we are thrilled to partner with them and the LemFi team to help them scale and continue their growth into new markets.”

Distributed by APO Group on behalf of LemFi.

Business

South Africa’s Multi-Billion-Dollar Energy Transition Pipeline Takes Shape Ahead of African Energy Week (AEW) 2026

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African Energy Chamber

From LNG terminals and renewable energy corridors to hydrogen hubs and storage solutions, African Energy Week’s “Invest in South Africa” session will highlight the opportunities driving the country’s transition toward a more diversified and resilient energy future

CAPE TOWN, South Africa, August 11, 2026/APO Group/ –South Africa is undergoing one of the most significant transformations in its energy sector, as the country works to diversify its power mix, reduce reliance on coal and develop a more integrated energy system capable of supporting long-term economic growth. Combining electricity, natural gas, liquid fuels, hydrogen and energy storage, this evolving model is creating new opportunities for infrastructure development, industrial investment and public-private partnerships.

These developments will be explored during the “Invest in South Africa: Developing Integrated Energy Systems for an Inclusive and Resilient Energy Future” session at African Energy Week (AEW) 2026, where policymakers, investors and industry leaders will assess the commercial strategies, policy frameworks and financing models required to build a more flexible and diversified energy system.

The discussion comes as South Africa continues implementing its Just Energy Transition Partnership, a landmark initiative launched in 2021 that has mobilized an initial $8.5 billion commitment from international partners to support the country’s transition through investments in renewable energy, grid infrastructure, electric vehicles and green hydrogen. The program has since expanded discussions around blended finance mechanisms and private sector participation to accelerate project deployment.

South Africa’s energy transition represents one of the continent’s most significant investment opportunities

While renewable energy remains central to South Africa’s future power mix, gas infrastructure is expected to play an important role in providing flexibility as the country integrates increasing volumes of intermittent wind and solar power. The government’s Gas Master Plan and emerging gas policy framework aim to support the development of a domestic gas market while enabling new infrastructure investments.

Several major gas infrastructure projects are advancing as part of this strategy. At Richards Bay, the proposed Zululand Energy Terminal is being developed as South Africa’s first LNG import terminal and is expected to support Eskom’s planned 3,000 MW gas-to-power program, strengthening energy security and grid flexibility. Meanwhile, the Ngqura LNG terminal development at the Coega Special Economic Zone is progressing as a strategic gas import and regasification hub designed to support industrial users, independent power producers and future gas-to-power capacity. Together, these projects could establish critical infrastructure for South Africa’s emerging gas market while supporting industrial growth and the transition toward a more diversified energy system.

At the same time, the country is positioning itself as a potential global player in green hydrogen. Projects such as Sasol’s Boegoebaai green hydrogen development in the Northern Cape and the proposed Boegoebaai Special Economic Zone are targeting large-scale renewable-powered hydrogen production, with ambitions to develop export opportunities and create new industrial value chains.

The “Invest in South Africa” session will examine how the country can integrate gas, renewables, hydrogen and storage into a resilient energy system while managing the transition away from coal. Discussions will focus on investment pathways, infrastructure priorities and the partnerships required to deliver reliable power and inclusive economic growth.

“South Africa’s energy transition represents one of the continent’s most significant investment opportunities, but success will depend on building an energy system that delivers reliability, affordability and growth,” says NJ Ayuk, Executive Chairman of the African Energy Chamber. “By bringing together investors, policymakers and industry leaders, AEW 2026 will help advance the partnerships needed to transform South Africa’s energy ambitions into practical projects that benefit the economy.”

As South Africa reshapes its energy landscape, AEW 2026 will provide a platform for stakeholders to identify opportunities across gas, power, renewables, hydrogen and infrastructure – helping define the next chapter of the country’s energy future.

Distributed by APO Group on behalf of African Energy Chamber.

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Business

Five ways Emirates is helping customers travel with greater confidence

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Emirates

Customers travelling anywhere on the Emirates network receive one free date change on tickets booked from 2 April 2026, including journeys connecting through Dubai

DUBAI, United Arab Emirates, August 11, 2026/APO Group/ –From free date changes to industry-first comprehensive travel insurance, Emirates (www.Emirates.com) continues to give customers greater flexibility and more choice, as well as the ability to tailor their travel plans for more peace of mind, from booking to the moment they arrive at their destination.

Here are the latest measures at a glance:

1. Unlimited free date changes to Dubai

From 10 August 2026, customers travelling to Dubai can change their travel dates as many times as they need, free of charge, across every type of fare. Unlimited, free of charge changes run across Saver all the way through to Flex fares in Economy, and for Special, Saver and Flex fares in Business Class.*

Economy Flex Plus, Premium Economy, Business Flex Plus and First Class fares continue to remain fully flexible.

2. Refunds, at a fraction of the cost

Emirates has also substantially reduced refund fees on flights to Dubai to US$50 on Saver fares and US$25 on Flex fares in Economy. In Business Class, refund fees will be US$50 on Special and Saver fares and US$25 on Flex fares.** Together with unlimited free date changes to Dubai, this latest measure means customers can adjust or step away from a booking with minimal penalties, whatever their circumstances.

3. A free date change anywhere across the network

Customers travelling anywhere on the Emirates network receive one free date change on tickets booked from 2 April 2026, including journeys connecting through Dubai. Customers can also hold a fare for 24 hours at no charge while they finalise their plans.*

4. Comprehensive Travel Cover

Emirates’ Comprehensive Travel Cover is an industry-first insurance product covering a range of scenarios, including added conflict cover with reimbursement of medical expenses up to US$25,000 and a free trip extension of up to 30 days. The cover is not restricted by government travel advice. Customers are also covered for trip cancellation, baggage delay and loss, in addition to unlimited worldwide medical expenses and emergency evacuation.

Available at an accessible premium and across 27 countries, the cover can be purchased at the time of booking on emirates.com or added to an existing booking through Manage Booking.

Where flights are disrupted, Emirates will support with accommodation directly for impacted customers. Where onward connections on other airlines are affected, or Emirates services are unavailable, customers are rebooked to their destination at no additional cost, including where cancellations are caused by airspace disruptions.

5. More flexibility and savings for Emirates Skywards members

Emirates Skywards members can get more from their journeys, with greater flexibility, more opportunities to progress their tier and additional savings when using their Miles.

Until 31 August 2026, members can benefit from:

  • 20% fewer Tier Miles required to reach Silver, Gold and Platinum status.
  • 20% bonus Tier Miles on Emirates and flydubai flights.
  • More savings with Cash+Miles, with a special rate of 2,000 Miles = USD 30, instead of the usual USD 15, when using Miles towards Emirates or flydubai flights, excess baggage, lounge access and seat selection.

For more information, visit www.Emirates.com.


* An applicable fare difference may apply.

** No show fees remain unchanged.

 

Distributed by APO Group on behalf of The Emirates Group.

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Energy

Sonangol’s Sebastião Gaspar Martins Joins Angola Oil & Gas (AOG) 2026 as Angola’s Hydrocarbon Strategy Takes Shape

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As Angola’s national oil company expands its position across upstream production, refining and infrastructure, Sonangol Chairman Sebastião Gaspar Martins will join AOG 2026 to discuss the company’s role in driving the country’s next phase of investment

LUANDA, Angola, August 11, 2026/APO Group/ –Sebastião Gaspar Martins, Chairman of the Board of Angola’s national oil company (NOC), Sonangol, will speak at the Angola Oil & Gas (AOG) 2026 Conference & Exhibition, taking place in Luanda on September 9-10, with a pre-conference day on September 8. Martins joins the conference as Sonangol advances a portfolio of strategic projects spanning deepwater production, refining and petroleum infrastructure, reinforcing the company’s central role in Angola’s efforts to sustain oil output while strengthening domestic fuel security.

Sonangol is expanding its upstream portfolio through partnerships with leading international operators. In June 2026, the company joined Azule Energy (operator), Equinor and national concessionaire ANPG in reaching a final investment decision on the $5.1 billion Greater PAJ development in Blocks 31 and 31/21. Angola’s first integrated development spanning two blocks, the project will develop an estimated 252 million barrels of reserves through a new FPSO capable of producing 95,000 barrels per day (bpd), with first oil targeted for 2029.

Alongside operator TotalEnergies and Petronas, Sonangol is also advancing the Kaminho project, the first deepwater development in the Kwanza Basin. The project will monetize resources from the Cameia and Golfinho fields through an FPSO with a production capacity of 70,000 bpd, with first oil planned for 2028. In Angola’s shallow waters, Sonangol is leading an infill drilling campaign at Blocks 3/05 and 3/05A. Drilling of the Pacassa SW well is underway, with the Impala-2 development well scheduled to spud shortly thereafter.

Onshore, Sonangol is advancing exploration activities across several blocks. The company operates Blocks KON 11, 12 and 15 in the Kwanza Basin and holds interests in acreage in the Lower Congo Basin. In June 2026, its exploration and production strategy received a significant boost through a $2.65 billion financing package arranged by a syndicate of international lenders.

Sonangol is also playing a leading role in Angola’s downstream expansion. The first phase of the Cabinda Refinery was inaugurated in September 2025, marking an important step toward reducing the country’s dependence on imported petroleum products. The refinery has a planned processing capacity of 60,000 bpd, with Sonangol holding a 10% stake. Attention is also turning to the Lobito Refinery, where the company is engaging international financiers to close a $4.8 billion funding gap. Once completed, the 200,000-bpd facility will be Angola’s largest refinery, with its first phase scheduled to come online in 2027.

Against this backdrop, Martins’ participation at AOG 2026 comes as Sonangol accelerates investment across the upstream and downstream value chain. His participation will provide delegates with insight into the company’s strategic priorities while highlighting opportunities for collaboration with international operators, investors and financiers supporting Angola’s next phase of energy development.

Distributed by APO Group on behalf of Energy Capital & Power.

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