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International Youth Day 2022: The Role of the Youth in Driving Financial Inclusion in Africa

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International Youth Day

Depending on their needs and stage of life, access to financial services can empower young people and improve their well-being in the right circumstances

NAIROBI, Kenya, August 12, 2022/APO Group/ — 

The African Union defines ‘youth’ as someone between the ages of 15 and 35. With 70% of sub-Saharan Africa’s population under the age of 30, Africa has the youngest population in the world. With such a burgeoning young workforce, the continent’s economy has a chance to grow exponentially, but only if the next generations are given the tools they need. It is crucial that young people participate in decision-making processes and be provided with numerous possibilities for employment and innovation.

Depending on their needs and stage of life, access to financial services can empower young people and improve their well-being in the right circumstances. According to research, children start developing good financial habits as early as age seven.

A study done by the OECD for the G20 Global Partnership for Financial Inclusion shows that young people are more likely to choose non-traditional financial service providers since they frequently have weak links with the official banking sector, both in sub-Saharan Africa and globally. It should come as no surprise that this generation is driving fintech adoption globally given that they have never known a world without mobile, web, and app-based services.

International Youth Day 2022: The Role of the Youth in Driving Financial Inclusion in Africa

The study further revealed that; one in three internet users worldwide is under the age of 18, and globally, 71% of young people and only 48% of the general population use the internet. Many national governments, including those of Costa Rica, Estonia, Finland, France, Greece, and Spain, have explicitly recognized Internet access as a human right since access to online information and services has become so crucial.

At Cellulant (www.Cellulant.io), we view fintech collaborations as a vehicle for advancing financial inclusion, business expansion and the overall economic development of Africa. We are daily working towards opening up options for people to become financially autonomous and empowered by giving global, regional, and local enterprises the rails they need to own their financial journeys.

We view collaborations with Fintech firms, especially those Founded and Led by the Youth, as a tool to promote financial inclusion and the growth of individual businesses as well as the continent of Africa’s economy as a whole. As evidenced by some of our recent partnerships, Young African Founders in Africa are making significant steps in a variety of sectors to drive financial inclusion;

A study done by the OECD for the G20 Global Partnership for Financial Inclusion shows that young people are more likely to choose non-traditional financial service providers

Akshay Grover, Cellulant CEO & Benji Fernandes, Nala Founder and CEO

In the Gig Economy:

The one-stop financial platform for Africa’s gig workers, ImaliPay (www.ImaliPay.com) partnered with Cellulant, for its payments infrastructure and solutions in Kenya and Nigeria. Founded by 2 young Africans, Tatenda Furusa (https://bit.ly/3QoO9tw) & Sanmi Akinmusire (https://bit.ly/3zQi3Q8), ImaliPay is driving financial inclusion by allowing ImaliPay users to access financial services quicker through Cellulant’s payment rails while at the same time building an ecosystem where gig workers can create a safety net around their work through savings, credit,  and insurance that drives their productivity and economic empowerment.

Cellulant is also the Payments Processor for Grey (https://bit.ly/3JNRakz), a Y-combinator-backed fintech startup, powering its payouts to thousands of Grey customers. Grey offers a unique international money transfer service that enables its users to send and receive international payments without restrictions quickly. Grey was launched in 2021 by Idorenyin Obong (https://bit.ly/3zK17uE) and Femi Aghedo (https://bit.ly/3zOl1Vr), who wanted to help Nigerians easily exchange to local currency and access the foreign currencies in their accounts.

In the Retail Sector:

Leveraging Cellulant’s footprint across the continent, where we are present in 35 countries, MarketForce (https://bit.ly/3AhDfzZ) entered a partnership with Cellulant to offer additional revenue opportunities for informal retailers through empowering them to be agents for major financial services, as well as access payments, savings, investments, insurance and buy-now-pay-later products. Founded in 2018 by Tesh Mbaabu (https://bit.ly/3QmKE6O) and Mesongo Sibuti (https://bit.ly/3C3ZJG8), MarketForce is an all-inclusive B2B commerce platform that empowers informal merchants in Africa to source, order and pay for inventory digitally and conveniently, access financing, collect digital payments and make extra money by reselling digital financial services such as airtime, electricity tokens and bill payments through its RejaReja app.

David Waithaka, Cellulant Chief Revenue Officer & Tesh Mbaabu, MarketForce CEO and Co-Founder

In the Remittances Sector:

At Cellulant, our goal is to simplify how payments are made by ensuring they are made in the most seamless manner. This seamlessness is also required in the remittance space hence our partnership with Nala (https://www.Nala.comto facilitate seamless cross-border payments and significantly reduce the cost of sending money from the UK and the US into Africa. Nala is a Y-Combinator-backed company, founded by Benjamin Fernandes (https://bit.ly/3SGQ7XL), that provides an app for Africans living in the United Kingdom and the United States to send money to the continent seamlessly.

Cellulant continues to power payments across the continent, one transaction at a time assisting businesses to explore how the evolution of digital payment solutions may assist job creation, increase efficiency in service delivery, and encourage financial inclusion for our youth population in order to develop Africa’s payment sector and to boost economic development.

Distributed by APO Group on behalf of Cellulant.

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Congo Is Turning Reserves into Bankable Projects – and the Investment Window Is Opening

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Etu Energias

Eni-led LNG expansion and ongoing deepwater investment are pushing the Republic of Congo’s energy sector toward more bankable projects ahead of the Congo Energy & Investment Forum 2027

BRAZZAVILLE, Congo (Republic of the), June 23, 2026/APO Group/ –With LNG exports set to triple to 3 mtpa, upstream oil production targeting 500,000 bpd and a renewed push on local content, the Republic of Congo is positioning itself as one of Central Africa’s most investable hydrocarbon markets. Under the leadership of the newly-appointed Minister of Hydrocarbons, Stev Simplice Onanga, the country is prioritizing industry growth by balancing local content with reserve replacement and project advancement.

 

What sets Congo apart is not the scale of its reserves, but the pace at which those reserves are being turned into commercially viable projects. From Eni’s LNG expansion and TotalEnergies’ deepwater developments to brownfield optimization by Trident Energy and output growth at Ammat Global Resources, capital is flowing into projects with clearer monetization pathways and nearer-term returns.

Ahead of the Congo Energy & Investment Forum (CEIF) 2027 – the country’s leading platform for energy investment and partnerships – the story is shifting away from frontier potential toward bankable projects already under development.

Policy Reform Is De-Risking Investment

Congo’s investment case is being reshaped by the alignment of resource base, regulatory reform and project delivery. Established oil production, expanding LNG capacity and fiscal adjustments are gradually reducing above-ground risk.

Recent reforms led by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo have added structure to the sector. The Gas Code, introduced in October 2025, formalizes fiscal terms for gas commercialization, while the Gas Master Plan prioritizes flaring reduction and gas-to-power deployment, targeting 1,500 MW by 2030.

A new upstream licensing round is also under consideration, aimed at attracting fresh capital into both mature and frontier acreage. Together, these measures are improving visibility across upstream, midstream and downstream segments, with recent project activity reinforcing the shift.

The Projects Driving the Next Cycle

Deepwater oil remains central to Congo’s production outlook, with operators progressing both new developments and brownfield optimization. TotalEnergies is advancing work at the Moho licence following the April 2026 Moho G discovery, backed by a $500–$600 million infill drilling program targeting about 40,000 bpd in incremental output.

Local independent Ammat Global Resources is targeting 70% production growth from its Loango and Zatchi fields, where reactivated wells and upgraded platforms have already lifted output by 75%. Perenco continues steady gains, adding roughly 6,000 bpd through its 2025–2026 drilling program.

Trident Energy, after acquiring an 85% working interest in the Nkossa and Nsoko II assets in 2025, is focused on extending field life through subsea optimization and redevelopment work.

While oil continues to anchor revenues, gas is rapidly emerging as Congo’s fastest-growing segment. Eni’s Congo LNG project delivered its first cargo from Phase 2 in February 2026, following the startup of the Nguya FLNG unit in December 2025. Together with Tango FLNG, capacity has risen from 0.6 mtpa to 3 mtpa. Trident Energy has also proposed an FLNG project aimed at adding further capacity across the country’s gas market. The project is expected to operate as shared infrastructure, allowing multiple operators to process gas from their respective fields. This creates an outlet for associated gas that might otherwise be stranded, supporting the country’s broader diversification goals.

Local Content Is Reshaping Investment Terms

Beyond upstream policy, Minister Onanga has positioned local content as a central pillar of Congo’s investment framework, and a key determinant of how capital is structured and deployed.

Decrees 2019-342, 343, 344 and 345 set requirements around subcontracting, workforce localization and training commitments, with the effect being a gradual shift in how projects are structured and how partnerships are formed. Operators are increasingly assessed not only on technical delivery but on in-country value creation, including partnerships with local firms and skills development. Logistics, maintenance and other service areas are increasingly channeled through domestic providers.

At CEIF 2027 – taking place June 1–3 in Brazzaville – attention will shift to what is moving forward and to the investors positioned to take part in that pipeline. Congo’s energy sector is no longer defined by potential alone: projects are moving, capital is being committed and policy is starting to catch up with activity on the ground.

As the Republic of Congo moves from reserves to revenue, the signal to investors is clear: this is already unfolding, not a future opportunity.

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

 

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Afreximbank secures double honours at the 2026 International Association of Business Communicators (IABC) Gold Quill Awards for excellence in strategic communications

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The Award of Excellence for IATF2025 recognises the successful communications and stakeholder engagement programme delivered around the fourth edition of the Intra-African Trade Fair, Africa’s premier trade and investment event

CAIRO, Egypt, June 23, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has been recognised with two prestigious honours at the 2026 International Association of Business Communicators (IABC) Gold Quill Awards, one of the world’s most prestigious awards programmes for strategic communications.

 

The Bank received an Award of Excellence in Special and Experiential Events category for the Intra-African Trade Fair 2025 (IATF2025) held in Algiers, Algeria and an Award of Merit in the Social Media category for its Afreximbank Social Media Campaigns, reaffirming Afreximbank’s commitment to delivering impactful communications that advance its mandate of promoting trade, investment and industrialisation across Africa and the Caribbean.

We are delighted to receive these two awards, which attest to the expertise, creativity and efficiency of Afreximbank’s communication

The Award of Excellence for IATF2025 recognises the successful communications and stakeholder engagement programme delivered around the fourth edition of the Intra-African Trade Fair, Africa’s premier trade and investment event. IATF2025 brought together governments, businesses, investors, buyers, sellers and entrepreneurs from across Africa and beyond, creating a platform for trade and investment opportunities while advancing the objectives of the African Continental Free Trade Area (AfCFTA). The communications campaign played a pivotal role in driving global awareness, stakeholder participation, media visibility and engagement before, during and after the event, while showcasing the scale, ambition and dynamism of African enterprise and reinforcing a positive narrative about Africa’s capacity to trade, industrialise and compete on the global stage. Over 120,000 delegates attended IATF2025 in person and virtually, with deals worth over US$50 billion recorded.

The Award of Merit for Afreximbank Social Media Campaigns recognises the Bank’s strategic use of digital platforms to engage stakeholders, amplify its developmental impact and elevate conversations around trade, industrialisation, economic integration and investment opportunities across Africa and the Caribbean. Through a combination of compelling storytelling, thought leadership content, executive advocacy, multimedia production and real-time event coverage, Afreximbank’s social media platforms have continued to expand their reach and influence among policymakers, businesses, investors, development partners and the wider public. Among these platforms is the Afreximbank TV, a digital TV channel that is wholly owned and managed by Afreximbank, whose fifth edition was celebrated with dedicated coverage of IATF2025, providing live coverage of the activities to both pan African and global audiences.

Anne Ezeh, Director & Global Head, Communications and Events at Afreximbank commented: “We are delighted to receive these two awards, which attest to the expertise, creativity and efficiency of Afreximbank’s communications. As a pan African multilateral financial institution, we see storytelling as a powerful tool for advancing our mission — ensuring our initiatives, events, programmes and key announcements not only inform, but also inspire confidence, deepen engagement and amplify Africa’s transformation. These awards reinforce our resolve to continue delivering world-class communications that elevate African voices and projects a bold and authoritative narrative of the continent.”

Ms. Ezeh added that through innovative storytelling, digital engagement and integrated campaigns, the Bank will continue to amplify the impact of its programmes and partnerships  to project a more authentic narrative of Africa, one defined by opportunity, innovation, resilience and growing influence in the global economy.

For more than five decades, the IABC Gold Quill Awards have recognised excellence in strategic communications globally, celebrating programmes and campaigns that demonstrate measurable impact, innovation, creativity and outstanding execution. Widely regarded as the pinnacle of achievement in the communications profession, the awards are judged through a rigorous and independent evaluation process conducted by experienced communication leaders from around the world.

Distributed by APO Group on behalf of Afreximbank.

 

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Islamic Development Bank (IsDB) Institute Unveils 2025 Annual Report During Group Annual Meetings in Baku

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In 2025, IsDBI significantly expanded its footprint in Islamic finance transformation, approving 25 new technical assistance projects valued at US$4.14 million and completing 19 projects worth US$3 million

The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) has released its 2025 Annual Report during the 2026 IsDB Group Annual Meetings held in Baku, Azerbaijan, showcasing a year of expanded impact in Islamic finance transformation, innovative solutions, and capacity development.

 

The report highlights how IsDBI strengthened its role as a global knowledge leader by advancing innovative solutions and scaling support to Member Countries through knowledge-based interventions, Islamic finance grants, and strategic partnerships.

In 2025, IsDBI significantly expanded its footprint in Islamic finance transformation, approving 25 new technical assistance projects valued at US$4.14 million and completing 19 projects worth US$3 million, supporting countries in strengthening regulatory frameworks and promoting inclusive financial systems.

Since 2013, the Institute’s interventions in this regard have reached over US$27.57 million across 181 projects benefiting more than 34 countries, underlining its sustained contribution to development outcomes across the Islamic world.

I am pleased to note that the Institute has continued to strengthen its unique role in the global development ecosystem

The Annual Report highlights major progress in IsDBI’s three flagship transformative projects, namely Awqāf Free Zones, Digital Postal Islamic Financial Services, and Smart Countertrade System, which have all advanced to pilot-ready stages. These initiatives aim to address global challenges such as financial inclusion, food and energy security, and trade resilience.

Furthermore, the Institute accelerated its focus on digital innovation in Islamic finance, enhancing its Islamic Finance Artificial Intelligence Assistant (IFAA) and hosting its first AI Hackathon on Islamic Finance, engaging more than 40 teams in developing cutting-edge solutions aligned with industry standards.

Human capital development in Islamic finance also remained a cornerstone of IsDBI’s work in 2025, with the delivery of over 20 training programs reaching around 500 professionals across Member Countries. A key achievement in this area was the Entrepreneurial Mindset Development Program, a flagship initiative equipping emerging leaders from 20 countries with innovation-driven and values-based entrepreneurship skills. The program was designed and implemented in collaboration with Prince Mohammed Bin Salman College of Business and Entrepreneurship, Saudi Arabia.

The Institute also strengthened its thought leadership through flagship publications, global partnerships, and digital engagement, reinforcing its position as a leading voice in Islamic economics and finance.

Commenting on the issuance of the Annual Report, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said: “I am pleased to note that the Institute has continued to strengthen its unique role in the global development ecosystem by bridging knowledge creation, building human capital, and designing innovative solutions to address economic challenges.”

The 2025 Annual Report is accessible on IsDBI website here (https://isdbinstitute.org/product/isdbi-annual-report-2025/).

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

 

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