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Fast growing neobank Lupiya partners with Network International to launch their card product

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Network International

Fintech turns to Payments as a Service to launch innovative new digital payment offerings

LUSAKA, Zambia, September 12, 2024/APO Group/ — 

Network International (Network) (www.Network.ae), the leading enabler of digital commerce across Africa and the Middle East, has announced that Zambian fintech and neobank, Lupiya, has appointed Network as their digital payments technology partner to launch a new debit card.

The solution includes the launch of a debit card that is e-commerce enabled, together with 3D Secure and tokenization. This will help diversify Lupiya’s value proposition to include not only simplified lending, but also digital payments to its existing and growing new customer base.

“Network’s partnership with Lupiya, our newest fintech customer in Zambia, underscores our ability to enable digital financial service providers in all consumer segments and verticals. It further solidifies our ambition to expand our client portfolio, encompassing diverse financial institutions across the region,” comments Dr Reda Helal, Managing Director & Co-Head of Processing – Africa, Network International.

Innovating for financial inclusion

Zambia has taken great strides in narrowing its gap in financial inclusion. According to the latest data, levels of inclusion have improved (https://apo-opa.co/3Ba8r6Z) from 59.3% in 2015 to 69.4% in 2020. In its Second National Financial Inclusion Strategy, the Zambian government has also set a target to achieve 85% financial inclusion (https://apo-opa.co/4d5FS82) by 2028.

But a third of the population remains excluded. There’s also a prevailing gender finance gap, with women struggling to access financial products and services from regulated providers.   

Offering microloans to underserved populations, Lupiya has played a pioneering role in bridging this gap. Lupiya leverages an online platform that simplifies the loan application process, while alternative data and machine learning models further assess creditworthiness for individuals and businesses that traditional financial institutions often overlook.

This has had a particularly big impact on empowering women and supporting climate-smart agricultural practices in a country where nearly 80% (https://apo-opa.co/4d1uYAs) of farmers are women.

Supporting rapid scale

This new partnership marks a significant milestone for our company in Zambia and opens new avenues for growth and innovation

To help Lupiya tap into more local opportunities for digital payments growth, Network will deliver a comprehensive suite of card payment processing solutions. These will cover the entire lifecycle of a card payment, from issuance to settlement and even dispute resolution, with a focus on both digital and physical payment channels.

“This new partnership marks a significant milestone for our company in Zambia and opens new avenues for growth and innovation. The growing adoption in cloud technologies has perfectly primed both fintech and traditional financial institutions to turbo charge digital innovation. Working with managed service providers, like ourselves, allows both old and new institutions to quickly and simply deliver new products and services to an increasingly digitally savvy customer,” says Dr Helal.

“At Lupiya, we are driven by the mission to revolutionise financial inclusion across Africa. Our partnership with Network International represents a significant leap forward in providing secure, accessible, and innovative digital financial solutions. By launching an e-commerce enabled debit card with 3D Secure and tokenization, we are empowering individuals and businesses to participate in the digital economy more effectively,” says Muchu Kaingu, CEO of Lupiya Pay, the company behind the neobank.

“This collaboration is a testament to our commitment to delivering cutting-edge technology that enhances convenience and security for our customers, while driving economic growth and financial independence across the continent,” he adds.

Outsourcing payments: A strategic move

Agility is crucial in the fast-paced fintech landscape where speed-to-market is a key competitive advantage. By outsourcing payments to a Payments as a Service (PaaS) provider, fintechs can significantly reduce the time required to launch new payment products and services. 

Another challenge for fintechs is navigating the complex regulatory environment for payments. PaaS providers have the expertise to ensure compliance with relevant laws and standards, allowing fintechs to focus on their core business.

According to companies like McKinsey (https://apo-opa.co/4d5RW9B), the uptake of PaaS is being fuelled by Africa’s growing cloud adoption, which it has likened to the continent’s rapid growth in smartphone ownership. According to the analysts, the rate of adoption of cloud in Africa is fast reaching parity with that of North America and China.

“Whether it’s a decades-old traditional bank, a nimble fintech like Lupiya, a retailer, or an MNO, delivering world-class digital payments, it starts with choosing the right PaaS partner. Network is proud to play a strategic role in the economic growth and financial inclusion in Africa,” says Nazo Mhango, Network International Country Manager for Zambia.  

Distributed by APO Group on behalf of Network International.

Business

SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

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Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

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South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

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Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

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Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

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Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

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