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Emerging Markets-Focused Fintech Platform PalmPay Unveils New Debit Card in Nigeria with Verve

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The new PalmPay Debit Card brings advanced features such as savings yield on deposits and merchant rewards within reach for mass market users in Nigeria

LAGOS, Nigeria, April 3, 2025/APO Group/ –PalmPay (www.PalmPay.com), a leading digital bank and fintech platform focused on emerging markets, has launched the PalmPay Debit Card in Nigeria in partnership with Verve, Africa’s largest domestic card scheme.

The launch of its debit card represents a key milestone in PalmPay’s evolution – from a mobile wallet known for it’s fee-free transfers and cashback rewards into a full-service digital banking platform offering an integrated ecosystem for payments, savings, credit, insurance, and now, card access.

The new PalmPay Debit Card brings advanced features such as savings yield on deposits and merchant rewards within reach for mass market users in Nigeria. With zero maintenance fees, a simple in-app application process, and nationwide delivery, PalmPay aims to convert millions of its 35 million users to become cardholders this year. The card is accepted at all merchants in the Verve network, and supports both debit and contactless transactions.

“This launch is another step forward in our mission to deliver accessible, reliable and rewarding financial services.“ said Sofia Zab, Chief Marketing Officer at PalmPay. “With the PalmPay Debit Card, we are expanding our ecosystem and enabling our users to pay and earn rewards at even more touch points, including across offline and online commerce. And for merchants, this opens up new opportunities to reach millions of Nigerian digital consumers and collaborate with us to build reward-driven experiences that boost loyalty and sales.”

Alongside the standard debit card, PalmPay is also rolling out PalmPay Premium, a new reward scheme and card designed for high-volume users. It offers enhanced perks such as priority support, advanced financial tools, and exclusive merchant benefits.

With the PalmPay Debit Card, we are expanding our ecosystem and enabling our users to pay and earn rewards at even more touch points, including across offline and online commerce

With over 35 million users and a growing network of 1.1 million agents and merchants in Nigeria – and operations in Tanzania, Ghana, and Bangladesh – PalmPay is building a next-generation financial ecosystem designed to empower consumers and businesses in emerging markets. PalmPay processes up to 15 million transactions daily, underscoring the scale and reliability of its platform.

In addition to its digital banking services, PalmPay provides a suite of B2B offerings for local MSMEs and international merchants, including:

  • Smart POS terminals and a business app
  • Payment orchestration and checkout solutions
  • Bulk payment tools via a self-service merchant portal
  • APIs for embedding and reselling PalmPay’s services
  • Direct integration of services into the PalmPay consumer and business apps

 

“At PalmPay, we believe that building a thriving digital economy requires collaboration. From lending and insurance providers to card schemes like Verve, our ecosystem is powered by strategic partnerships.”, said Jiapei Yan, Chief Commercial Officer of PalmPay. “The launch of our debit card is another example of how we are combining cutting-edge technology with our partner strengths to deliver inclusive financial services at scale – and in doing so we empower businesses targeting Africa to grow faster, reach more customers and unlock more revenue streams.”

Vincent Ogbunude, Managing Director of Verve International, added: “We are proud to partner with PalmPay on this important milestone. Our alliance reflects our shared mission of accelerating financial inclusion and delivering payment innovation that meets the needs of African consumers.”

From zero-fee transfers and high-yield savings to instant credit, insurance, and now cards, PalmPay is redefining what digital banking in emerging markets can look like – personalised, comprehensive, and accessible to everyone.

As international businesses seek entry into Africa’s dynamic digital economy, PalmPay offers a trusted platform with the infrastructure, user base, and reach to help them scale.

Distributed by APO Group on behalf of PalmPay

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Rhino Resources Joins African Energy Week (AEW) as Gold Sponsor as Southern African Exploration Expands

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Rhino Resources will participate at the 2026 edition of the African Energy Week conference and exhibition – Africa’s premier event for the energy sector – as a gold sponsor

CAPE TOWN, South Africa, May 8, 2026/APO Group/ –Exploration company Rhino Resources has joined the African Energy Week (AEW) 2026 Conference and Exhibition as a Gold Sponsor, reinforcing its role as one of Africa’s emerging independents driving frontier and greenfield exploration across Southern Africa.

 

Scheduled for October 12–16 in Cape Town, AEW 2026 comes as Rhino Resources accelerates exploration activity across Namibia’s Orange Basin while broadening its footprint into South Africa’s Karoo Basin. The sponsorship reflects the company’s strategy to deepen engagement with investors, service providers and policymakers as it advances multiple assets toward development readiness and future final investment decisions.

At the core of Rhino Resources’ upstream momentum is its multi-well deepwater drilling campaign in Namibia’s Orange Basin – one of the world’s most prolific frontier exploration hotspots. The company is targeting FIDs between late 2026 and early 2027 across operated and partner-led assets, including the co-development of the Volans and Capricornus discoveries in Petroleum Exploration License (PEL) 85.

Rhino Resources represents a new generation of African-focused independents that are willing to take on frontier risk to unlock long-term energy value

Recent drilling results have strengthened the commercial case of these Namibian assets. The Volans-1X well delivered strong gas-condensate flow rates in February 2026, while the earlier Capricornus-1X well confirmed the presence of light oil, positioning Rhino Resources among the key players contributing to Namibia’s ambition of achieving first oil production by 2030.

Beyond Namibia, Rhino Resources is broadening its portfolio through onshore exploration in South Africa’s Karoo Basin. The company is advancing a six-well campaign targeting helium, methane and hydrogen resources in the Free State Province – a move that reflects both geographic diversification and a wider strategy to support a more resilient and diversified regional energy mix.

This expansion comes at a time when Southern African economies face energy security challenges due to ongoing disruptions to global shipping routes, reinforcing the importance of unlocking domestic resource potential to support industrial growth and reduce external vulnerabilities.

Rhino Resources’ role as Gold Sponsor at AEW 2026 therefore comes at a pivotal stage in its growth trajectory. The event provides a platform to showcase its exploration progress, strengthen partnerships and position its projects within the broader African energy investment landscape.

At AEW 2026, Rhino Resources’ executives are expected to participate in high-level panel discussions, offering insights into frontier basin development, cost-efficient exploration strategies and pathways to fast-tracking project commercialization across emerging African markets.

“Rhino Resources represents a new generation of African-focused independents that are willing to take on frontier risk to unlock long-term energy value,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber. “The company’s recent discoveries in Namibia and expanding exploration strategy in South Africa highlight the scale of opportunity across the continent and the critical role independents play in translating resources into production, investment and economic growth.”

Distributed by APO Group on behalf of African Energy Chamber.

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Levene Energy Joins African Energy Week (AEW) as Gold Sponsor Amid Regional Expansion and Market Diversification

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Levene Energy is scaling its presence across Africa through strategic investments spanning gas infrastructure, upstream development and renewable energy solutions

CAPE TOWN, South Africa, May 8, 2026/APO Group/ –Nigerian integrated energy company Levene Energy has joined the African Energy Week (AEW) Conference and Exhibition as a Gold Sponsor, reinforcing its position as an emerging pan-African energy platform focused on infrastructure expansion, energy access and long-term market diversification.

 

Taking place October 12–16 in Cape Town, AEW 2026 comes as Levene Energy accelerates its transition from a project-focused developer into a long-term energy infrastructure investor with interests spanning upstream, midstream, downstream and renewable energy segments.

A key milestone of this strategy was reached in January 2026 when the company secured a $64 million facility from the African Export-Import Bank to acquire a 30% stake in Axxela Limited. The transaction marks the company’s entry into Nigeria’s regulated gas infrastructure space, strengthening its position in gas processing, distribution and industrial energy supply.

Africa’s energy future depends on building integrated, locally anchored energy systems that can withstand global volatility while delivering reliable and affordable power

The investment also aligns with Nigeria’s Decade of Gas initiative, which seeks to monetize the country’s estimated 600 trillion cubic feet of gas reserves while expanding energy access, supporting industrialization and improving access to cleaner cooking solutions nationwide.

Beyond gas infrastructure, Levene Energy continues to strengthen its upstream portfolio. The company holds interests in multiple producing and exploration assets in Equatorial Guinea, including Blocks EG-03, EG-04, EG-19 and Block P, alongside bitumen assets in Nigeria. This upstream footprint supports a broader strategy to increase resource development and supply in response to rising regional demand for hydrocarbons.

At the same time, the company is advancing its renewable energy business as part of a diversified energy mix strategy. Through its subsidiary LPV Technologies, Levene Energy operates a 200 MW solar panel manufacturing facility in Lagos, supporting both rural electrification initiatives and commercial and industrial adoption of solar power. The focus on distributed energy solutions and local manufacturing reflects Levene Energy’s growing emphasis on energy access, grid resilience and local value creation.

“Africa’s energy future depends on building integrated, locally anchored energy systems that can withstand global volatility while delivering reliable and affordable power,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber. “Levene Energy’s expansion across gas, renewables and infrastructure reflect the kind of long-term, value-driven strategy needed to unlock the continent’s full energy potential.”

The company’s participation at AEW 2026 builds on its recognition as a Local Content Champion at AEW 2025, highlighting its commitment to local capacity building, inclusive growth and the development of African-led energy solutions. AEW 2026 provides a platform for the company to engage with policymakers, investors and industry stakeholders to forge new partnerships and advance its regional expansion strategy across Africa’s evolving energy landscape.

Distributed by APO Group on behalf of African Energy Chamber.

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Gas Supply in the Age of Artificial Intelligence (AI): Can Africa’s Natural Gas Power the Continent’s Digital Future?

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As AI-driven data demand accelerates, Africa’s vast natural gas reserves are emerging as a critical enabler of data center growth – placing gas at the center of discussions at African Energy Week 2026’s AI and Data Center Track

CAPE TOWN, South Africa, May 8, 2026/APO Group/ –As artificial intelligence (AI) drives an unprecedented surge in data processing, one constraint is becoming increasingly clear: power. Data centers – the backbone of AI – require vast, stable and continuous energy supply. For Africa, this challenge intersects with an opportunity. The continent’s abundant natural gas resources could position it as a future hub for AI infrastructure – if supply can be effectively mobilized.

 

Africa holds over 600 trillion cubic feet of proven natural gas reserves, representing a significant share of global supply. Yet despite this abundance, the continent consumes only a fraction domestically, with much of production historically geared toward exports.

 

At the same time, Africa’s digital infrastructure remains underdeveloped. The continent accounts for just 0.6% of global data center capacity – despite representing nearly 20% of the world’s population. Total installed capacity stands at roughly 1.2 GW across active, planned and pipeline projects, with only about 360 MW currently operational.

 

Demand, however, is accelerating rapidly. Africa’s data center needs are expected to increase 3.5 to 5.5 times by 2030, requiring up to $10–20 billion in investment. Power demand is rising in parallel, growing at 20–25% annually and projected to reach 8,000 GWh in the coming years.

 

This is where natural gas becomes critical. Unlike intermittent renewables, gas-fired power offers dispatchable, baseload energy – making it particularly suited to the always-on requirements of data centers. Globally, data centers already consume around 1.5% of total electricity, with demand growing at roughly 12% annually, far outpacing overall electricity consumption. In emerging markets, where grid reliability is inconsistent, this reliability advantage becomes even more important.

AI data centers require constant, reliable power at scale, and natural gas is the only resource Africa has today that can deliver that immediately

 

Major gas projects across Africa underscore the scale of potential supply. Mozambique’s offshore developments – among the largest globally – are expected to produce over 13 million tons per year of LNG, while Nigeria continues expanding its gas monetization strategy around its 200+ trillion cubic feet of reserves. Meanwhile, new producers such as Senegal and Mauritania are entering the market with large-scale LNG developments.

 

The opportunity is not simply about exporting gas, but about using it domestically to power industrialization and digital infrastructure. Today, Africa exports energy while still facing chronic power shortages, creating a disconnect between resource wealth and economic development.

 

Bridging this gap could redefine the continent’s trajectory. Gas-to-power projects, integrated with data center development, offer a pathway to anchor digital infrastructure in energy-rich regions. Countries such as Nigeria, Egypt and Algeria are particularly well positioned, while emerging producers like Mozambique and Senegal could embed domestic supply into new industrial and digital hubs from the outset.

This convergence is now moving to the forefront of industry discussions. At African Energy Week 2026, the AI and Data Center Track will focus on how power – particularly natural gas – can underpin the continent’s digital expansion. As AI infrastructure scales, the track highlights a central reality: without reliable, scalable energy, Africa risks missing out on the next wave of global digital investment.

“This is not just an energy discussion – it’s an economic strategy,” says NJ Ayuk, Executive Chairman of the African Energy Chamber. “AI data centers require constant, reliable power at scale, and natural gas is the only resource Africa has today that can deliver that immediately. If we align gas development with digital infrastructure, we can industrialize, create jobs and position Africa as a serious player in the global AI economy.”

Still, challenges remain. Infrastructure gaps, pricing constraints and regulatory uncertainty continue to limit domestic gas utilization. Without coordinated investment in pipelines, power plants and digital infrastructure, the continent risks continuing its role as an energy exporter while importing digital services.

As AI drives a new wave of energy demand, natural gas is emerging as a critical enabler of digital infrastructure. For Africa, the challenge – and opportunity – is to turn that advantage into global competitiveness.

Distributed by APO Group on behalf of African Energy Chamber.

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