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Artificial intelligence (AI) could create a turning point for financial inclusion in Africa (By Lillian Barnard)

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AI tools can analyse data from client discussions, producing legal documents in simple language and at a fraction of the cost of what it would typically take to draft a contract

SANDTON, South Africa, April 18, 2024/APO Group/ — 

By Lillian Barnard, President of Microsoft Africa (www.Microsoft.com).

It’s difficult to imagine a time before the widespread adoption of mobile technology in Africa – particularly where financial services are concerned. For millions of unbanked people, transactions were limited to cash, postal services or even the barter system. Now, in much the same way as mobile payments completely disrupted the status quo, AI has the potential to propel the fintech industry into a new era of financial inclusion. And perhaps most exciting of all is that Africa is not simply catching up with AI-powered developments, but surging ahead with innovative solutions that have considerable implications for the underbanked. 

Already, homegrown fintech companies have completely changed the way people in Africa transact, helping to reduce reliance on cash transactions.

Innovative payment solutions have revolutionised access to essential services, such that millions of people can now afford everyday necessities like airtime. In fact, research from McKinsey (https://apo-opa.co/3W55k98) has shown that these items are now available to lower-income households at up to 80 percent less of the cost associated with traditional banking players.

And when one considers that half (https://apo-opa.co/3vMMjxz) of Africa’s population is still unbanked or underbanked, we can begin to appreciate just how dramatic an impact the fintech sector has had on the very nature of financial services in Africa.

The net result in Kenya, for example, is that the adoption of digital payment solutions helped increase financial inclusion by as much as 25 percent (https://apo-opa.co/3W91wUp) in just 15 years. 

A cloud-powered payment revolution

More recently, cloud technology has created a whole new realm of possibilities for fintech companies looking to accelerate financial inclusion, helping them scale their operations, create operational efficiencies and spin up new innovations overnight.

African payment giant, Flutterwave (https://apo-opa.co/3Q6oMP1), is a case in point, having recently shifted its legacy infrastructure to Microsoft Azure with a view to expanding its operations and processing high volume payments at scale. As one of the continent’s safest and most reliable payment companies, Flutterwave has been at the forefront of Africa’s payment revolution. Its multiple payment modes, including local and international cards, mobile wallets and bank transfers, continue to change the game for many African people and businesses on a daily basis.

AI ushers in a new era

Now, building on the progress enabled by the cloud, the world is undergoing a new wave of technological transformation, driven by AI. Suddenly, businesses don’t need vast datasets or powerful computers to benefit from the technology, with most of the necessary compute power now available through cloud providers. And as the barriers to AI adoption have fallen away, so new tools are giving rise to substantive productivity gains and revolutionising industries such as fintech.

While AI is providing champions of financial inclusion like Flutterwave with the tools they need to expand their reach, it’s also helping to fast-track access to financial services (https://apo-opa.co/4aVKblR) in a vast number of different ways. 

Microsoft continues to engage with the African Union and national governments in priority markets to help strengthen our collective role as responsible stewards of AI

Traditionally, cost has been a significant barrier for local SMEs when it comes to the adoption of digital financial services. In fact, it’s estimated that around 90 percent (https://apo-opa.co/3U22OxC) of transactions in Africa are still cash-based, and this is often because cash transactions don’t carry any fees. However, the ability for AI to lower the cost of the entire ecosystem of financial services – from fraud detection to risk management optimisation and compliance improvements, can lead to substantial operational efficiencies and cost savings, which can ultimately be passed on to the end-user.

Banks, for example, can make their services more affordable to their customers by rolling out AI-powered chatbots to handle routine queries, at the same time sparing them from having to travel to a bank branch.

Already, fintech companies are helping their customers to improve their financial literacy by using these same chatbots as affordable advisors. Drawing on the power of AI, these bots can produce personalised recommendations such as budgeting strategies so that the user can make a more informed financial decision. Mosabi (https://apo-opa.co/442aQuU), a company, in Sierra Leone has even gamified the process to help customers elevate their financial behaviours.

What’s more, AI tools can analyse data from client discussions, producing legal documents in simple language and at a fraction of the cost of what it would typically take to draft a contract, extending access to these services in terms of both understanding and affordability.

Real-time lending at scale

Perhaps most important of all, many fintech companies have access to vast amounts of data, meaning that when AI is introduced to the equation, they have formidable ability to offer real-time digital lending on a major scale.

M-KOPA (https://apo-opa.co/4cZW10a), for example, leverages Microsoft’s AI services to manage lending risk and provide financial forecasting. The company provides digital financial services to underbanked consumers by combining digital micropayments and IoT technology, drawing on cloud technology to process over 500 payments per minute, and making it possible for 3 million people across Africa to access essential services such as solar power systems, digital loans, health insurance and smartphones.

The use of AI has helped M-KOPA achieve significant increases in customer repayment performance – particularly for the follow-on products and services that M-KOPA offers to customers once they have successfully repaid their initial loan. In fact, more than 440,000 additional credit lines have been made to customers following payment of their first product.

With the digital payments market maturing quickly in Africa and AI rapidly gaining traction among fintechs on the continent, the implications for accelerated financial inclusion are significant.

The question is – how do we ensure fintechs are able to fully realise the AI opportunity?

Much of the answer lies with capacity building, from infrastructure to connectivity, skills and essential digital tools. With improved internet access, fintechs have the potential to access more data, and with larger volumes of data available, they can provide more innovative services.

It’s for that exact reason that Microsoft continues to make significant investments to bolster the continent’s digital capacity – from new connectivity solutions through our Airband Initiative to essential cloud infrastructure through our enterprise-grade datacentres in the region. Through key partnerships, such as our collaboration with Safaricom, we’re upskilling hundreds of thousands of developers to build new entirely new digital ecosystems.  

Regulation is another hurdle that must be overcome to accelerate AI-powered payments in Africa. Though more African countries are expected to introduce regulations to guide AI development and deployment, relatively few have strategies and policies in place at a national level. In fact, many FSI organisations in Africa view the risk of new safety and regulatory requirements as one of the biggest stumbling blocks to wider implementation of the technology, hindering greater progress in financial inclusion.

Finding new ways of collaborating across industry and government is critical to the advancement of AI in financial services. To this end, Microsoft continues to engage with the African Union and national governments in priority markets to help strengthen our collective role as responsible stewards of AI.

For some time now, Africa has been at the forefront of the payment technology revolution – empowering millions of people with access to financial services. Imagine what more could be done through the unprecedented power of AI? To turn that opportunity into reality tomorrow, we must begin by ensuring the groundwork for AI transformation is done today.

Distributed by APO Group on behalf of Microsoft.

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

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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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