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KCB Group and Bank of Kigali launch Pan-African Payment and Settlement System (PAPSS), enabling seamless and affordable cross-border payments across Africa

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KCB Group

With this launch, businesses and individuals can benefit from faster, more cost-effective, and secure payments without relying on correspondent banks or third-party currencies

The Pan-African Payment and Settlement System (PAPSS), launched by African Export-Import Bank (Afreximbank) (www.Afreximbank.com) in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat, has recorded a significant milestone in its journey towards enhancing financial integration and economic prosperity across Africa with the official launch of the platform by KCB Group in Kenya and Bank of Kigali in Rwanda.

The launches, by the Bank of Kigali in Kigali on 26th February and KCB in Nairobi on 27th February, made the two banks the first in their respective countries to integrate the transformative system into their operations, underscoring their commitment to championing intra-African trade and supporting the efforts of the AfCFTA.

KCB and Bank of Kigali customers will now be able to send and receive cross-border payments using PAPSS. The service is fully operational and accessible via the banks’ mobile applications and branch networks, enabling seamless transactions across African borders. With this launch, businesses and individuals can benefit from faster, more cost-effective, and secure payments without relying on correspondent banks or third-party currencies.

Highlighting the benefits of PAPSS to customers of KCB and Bank of Kigali, Mike Ogbalu III, CEO of PAPSS, said, “The customers will experience faster, more cost-effective, and secure cross-border transactions from the comfort of their banks’ mobile applications or through their branches. Businesses can trade more freely and competitively by eliminating the need for correspondent banks outside the continent and removing dependencies on third-party currencies. This transformation is set to unlock new opportunities for trade and investment, allowing African SMEs to access broader markets and contribute to local economies.”

Mr. Ogbalu III expressed deep gratitude to KCB and Bank of Kigali for their pioneering roles in adopting the PAPSS initiative and commended Paul Russo, KCB Group CEO, and Dr. Diane Karusisi, CEO of Bank of Kigali, “for their “visionary leadership and unwavering commitment”.

This transformation is set to unlock new opportunities for trade and investment, allowing African SMEs to access broader markets and contribute to local economies

He noted that the PAPSS network, which began in 2022 in a pilot phase across the West African Monetary Zone (WAMZ), had successfully grown to include 15 central banks, over 150 commercial banks, and 14 switches, adding that the current “expansion marks a significant stride toward our goal of connecting the entire continent, ensuring that every African citizen can benefit from seamless, cost-effective cross-border transactions”.

“With only 16 per cent of Africa’s total trade occurring intra-regionally, the launch of PAPSS in Kenya and Rwanda is a significant step in unlocking the continent’s potential,” continued Mr. Ogbalu III. “We believe that this innovative financial market infrastructure will facilitate greater trade opportunities, economic growth, and financial empowerment between the Eastern African countries and the rest of Africa.”

He called on other central and commercial banks in Eastern Africa to join the PAPSS family in order to play a pivotal role in the AfCFTA as it worked to build a more prosperous and unified Africa.

Speaking on the milestone, KCB Group CEO, Paul Russo, said: “We want to play a bigger role in catalyzing trade and payments in Africa and beyond, leveraging our digital capabilities and regional footprint. Our entry into PAPSS aligns perfectly with our strategy of supporting economic growth in Kenya and across Africa by facilitating seamless financial transactions.”

Dr. Diane Karusisi, CEO of Bank of Kigali, highlighted the significance of the partnership: “This system allows people to send money quickly. For example, if someone sends Rwandan francs from Rwanda, it can reach Ghana in their local currency. The system converts the currency to meet the local requirements. Entrepreneurs in Rwanda can now receive payments instantly in Rwandan francs or USD from any member country. This service is fast, affordable, and reliable.”

Distributed by APO Group on behalf of Afreximbank.

Energy

Nigeria Accelerates $750B Mining Vision Ahead of African Mining Week (AMW) 2026

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Etu Energias

African Mining Week will showcase opportunities within Nigeria’s mining value chain as the country seeks capital to unlock its $750 billion worth of untapped mineral deposits

CAPE TOWN, South Africa, June 24, 2026/APO Group/ –Nigeria’s mining sector is entering a new phase of growth as regulatory reforms, downstream investments and international partnerships strengthen investor confidence in one of Africa’s largest untapped mineral markets. The country’s solid minerals sector has secured approximately $3 billion in investments over the past three years, reflecting growing investor confidence as the West African nation seeks to bridge the financing gap hindering large-scale mining development.

 

The investment milestone comes as Nigeria deepens engagement with investors to unlock its estimated $750 billion in untapped mineral resources. The country is targeting an increase in mining’s contribution to GDP to 10%, creating lucrative investment opportunities for global mining industry players.

These developments come as African Mining Week (AMW) 2026 – Africa’s Most Influential Mining Conference, taking place in Cape Town from October 14-16 – prepares to showcase Nigeria’s expanding project pipeline and investment opportunities. Through dedicated country sessions, project showcases and executive networking, the event will connect international investors with Nigerian policymakers, mining companies and service providers driving the country’s mining transformation.

Nigeria’s expanding investment pipeline is a testament to its drive to strengthen partnerships. In June 2026, indigenous company Romulus Mining announced plans to increase investments across its gold and lithium portfolio from approximately $50 million to $150 million over the next three years, underscoring growing private sector confidence in the country’s mining outlook.

A partnership deal signed with Turkey in May 2026 is expected to support cooperation in geological exploration, mining technologies, digitalization and capacity building, while creating new opportunities for Turkish investment and technical expertise across Nigeria’s mining value chain.

Meanwhile, the advancement of several downstream projects – including a $600 million lithium processing facility in Nasarawa State and a $200 million lithium processing plant in Abuja – underscores Nigeria’s commitment to boosting mineral production and supporting industrialization.

Amid these developments, AMW 2026 provides a timely platform for investors seeking to capitalize on one of Africa’s most promising mining markets. The event will facilitate strategic partnerships that support exploration, mineral processing and long-term industry growth, reinforcing Nigeria’s ambition to develop a $1 billion economy by 2030 on the back of its mining industry.

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

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6th Canada-Africa Business Conference Opens in Lagos, Headline Sponsored by Zenith Bank Plc

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Ateau Zola

Zenith Bank CEO Dame Dr. Adaora Umeoji welcomes delegates as Canada and Africa’s private-sector leaders gather to advance trade, investment and partnership

LAGOS, Nigeria, June 24, 2026/APO Group/ –The Canada-Africa Chamber of Business (www.CanadaAfrica.ca) today opens the 6th Canada-Africa Business Conference in Lagos, Nigeria, headline sponsored by Zenith Bank Plc, bringing together senior decision-makers from Canada, Nigeria and across African markets for two days of trade and investment engagement.

In his message (https://apo-opa.co/43TPktb) to delegates, Canada’s Prime Minister Mark Carney proudly offered his warmest greetings to delegates: “As we gather today, I would like to recognize the Canada-Africa Chamber of Business for convening leaders from across Canada and Africa to advance investment, trade, and partnership—connecting businesses and institutions to drive practical collaboration and shared growth.”

Canada’s Minister of International Trade, Hon. Maninder Sidhu underscored the vital importance of the program to accelerate trade and investment:

““Nigeria is Canada’s second largest merchandise trading partner in Africa, with bilateral trade exceeding close to $3 billion in 2025—and there is enormous potential to grow that relationship even further, including in financial services, infrastructure, energy, critical minerals, agriculture and clean tech.”

“Canada is committed to working with our Nigerian partners to attract investments, strengthen supply chains, and create good jobs and new opportunities in both our countries. The relationships built at this conference will help move that work forward, they will lead to new partnerships, new investments, and new opportunities for our people.”

— Hon. Maninder Sidhu, Minister of International Trade, Canada

The conference is designed as a practical platform for business leaders, investors, policymakers and institutional partners to identify opportunities, build relationships and advance commercial partnerships across sectors including financial services, infrastructure, energy, mining, agriculture, clean technologies and the wider innovation economy.

“On behalf of the Board, Management and Staff of Zenith Bank Plc, I extend a very warm welcome to all delegates attending the 6th Canada-Africa Business Conference in Lagos, Nigeria. As headline sponsor, we are honoured to enable the hosting of this this distinguished gathering in our home city, the commercial heartbeat of Africa.”

The relationships built at this conference will help move that work forward, they will lead to new partnerships, new investments, and new opportunities for our people

— Dame Dr. Adaora Umeoji, OON, Group Managing Director/Chief Executive Officer, Zenith Bank Plc

In her conference message, Dame Dr. Umeoji commended The Canada-Africa Chamber of Business for convening senior decision-makers from across Canada and Africa to advance trade, investment and partnership, while also recognizing the Government of Canada’s commitment to deepening commercial ties with Nigeria and the wider continent.

“The opportunity before us is substantial. Nigeria is Canada’s second-largest merchandise trading partner in Africa, with growing demand across financial services, infrastructure, energy, mining, agriculture and clean technologies.”

— Dame Dr. Adaora Umeoji, OON, Group Managing Director/Chief Executive Officer, Zenith Bank Plc

Zenith Bank’s participation underscores the importance of financial platforms, trade finance, treasury solutions and corporate and investment banking expertise in turning Canada-Africa relationships into bankable opportunities.

“Our commitment extends well beyond this conference: to every partnership that creates jobs, builds infrastructure and drives shared growth, innovation and sustainable prosperity between our two nations.”

— Dame Dr. Adaora Umeoji, OON, Group Managing Director/Chief Executive Officer, Zenith Bank Plc

“Lagos is an ideal setting for this next chapter of Canada-Africa engagement. With Zenith Bank as headline sponsor, the Chamber is proud to convene a program that showcases Nigerian excellence, Canadian ambition and the commercial partnerships that can serve global markets.”

— Garreth Bloor, President, The Canada-Africa Chamber of Business

In addition to Zenith Bank Plc as Conference Headline Sponsor, the conference is supported by Elephant Trade-Services DRC as Headline Chamber Sponsor, GardaWorld Security as Gold Conference Sponsor, and Silver Conference Sponsors Banwo & Ighodalo, Baywood Group, CBI News, Dentons, Eko Hotels & Suites, and Voranex Africa. The Government of Canada is recognized as Chamber Partner, with Abide Consulting serving as Conference Partner.

The two-day program includes keynote addresses, interactive panels, executive networking and business-to-business engagement, with a focus on practical outcomes for Canadian and African companies seeking growth, market access and long-term partnership.

Distributed by APO Group on behalf of The Canada-Africa Chamber of Business.

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Energy

Uganda’s $500B Growth Ambition Puts Mining Reform and Critical Minerals in Focus at African Mining Week (AMW) 2026

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Etu Energias

African Mining Week will connect Ugandan stakeholders with global investors, fostering discussions on the future of mining in the East African country

CAPE TOWN, South Africa, June 24, 2026/APO Group/ –As Uganda accelerates its Ten-Fold Growth Strategy aimed at expanding its economy from $59.3 billion to $500 billion by 2040, the African Mining Week (AMW) 2026 conference will serve as a key platform to connect the country’s mining sector with global capital and technical partners.

 

AMW 2026 – scheduled for October 14-16 in Cape Town – will feature a dedicated Uganda Country Spotlight, showcasing emerging investment opportunities across the mining value chain as well as ongoing regulatory reforms designed to improve the country’s investment climate.

AMW comes as a critical time for Uganda as the country advances its Mining and Minerals (Amendment) Bill 2026 to improve investor protections, licensing efficiency, local content participation and the mining sector’s contribution to GDP. The country spotlight offers a platform for Ugandan authorities to pitch global investors on streamlined licensing, new incentives and emerging investment prospects.

Uganda is also finalizing preparations for its 2026/2027 oil and mineral exploration licensing round, designed to unlock new greenfield opportunities across the critical mineral sector. AMW will highlight emerging investment opportunities in cobalt, copper, iron ore, graphite, and rare earths as Uganda prioritizes critical minerals to achieve 8% annual economic growth through 2030.

In the gold sector, Uganda is advancing formalization and industrialization initiatives, integrating artisanal and small-scale miners (ASGM) – who account for 90% of gold production – into the formal economy. The launch of three-year Domestic Gold Purchase Program and the commissioning of the Wagagai Gold Project and refinery reinforces Uganda’s strategy to boost local value addition and strengthen its gold industry ecosystem.

The Uganda Country Spotlight at AMW 2026 will convene regulators, project developers, mining companies, financiers and global service providers to shape the future trajectory of Uganda’s mining sector.

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

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