Connect with us
Anglostratits

Business

Finance in Africa 2022: Navigating the financial landscape in turbulent times

Published

on

European Investment Bank

Banks weathered the pandemic well, showing the resilience of the sector

ABIDJAN, Ivory Coast, October 20, 2022/APO Group/ — 

The European Investment Bank (EIB) (https://www.EIB.org) has completed its annual survey of banks in Africa in 2022, supported by Making Finance Work for Africa. In Finance in Africa in 2022: Navigating the financial landscape in turbulent times (https://bit.ly/3goYM2l), the seventh report in this series, we surveyed 70 banks in sub-Saharan Africa between April and June 2022 to understand how the war in Ukraine is impacting banks and to learn their views on climate lending, gender lending and the accelerating digitisation of the sector.

Banks weathered the pandemic well, showing the resilience of the sector. However, the war in Ukraine is leading to new concerns. With central banks in many countries raising domestic interest rates and bond funding becoming more expensive due to tighter global financial conditions, there has been a significant increase in banks worried about funding costs. This hardly featured in the survey last year, when banks were mainly concerned about the impact of the pandemic on asset quality.

“The slowdown of the global economy and the tightening of financing condition amplify the economic problems facing Africa. As public sector debt servicing costs are increasing, there is a risk of crowding out for the private sector. Investment needs remain however significant and countries in sub-Saharan Africa will need to keep focus on limiting the effects on private lending,” said EIB Chief Economist Debora Revoltella (https://bit.ly/3eRzNUJ). “It will be crucial to maintain access to finance for companies during a global downturn. The region has a strong partner with the European Investment Bank. We have been investing in Africa since 1965 and in 2021 alone, the EIB signed agreements for investments benefiting operations worth €2 billion in sub-Saharan Africa under a dedicated ACP Investment Facility”.

Banks cautiously optimistic

Asset quality remains a concern this year for many banks, especially for loans to small and medium enterprises. Headline non-performing loan figures do not tell the whole story — there are significant shares of loans under moratoria or restructuring. Banks’ concerns about asset quality deterioration suggest that the size of the problem may be bigger than official data suggest and, correspondingly, that non-performing loan ratios are likely to increase in some countries as support measures are wound down and tough global economic conditions persist. Banks expect to see increased credit demand, and they also plan to expand their own operations, which in turn requires an expansion of their funding. The share of banks planning to expand lending operations is somewhat higher in the survey for 2022 compared to 2021. Despite clear concerns about asset quality, the mood that seems to characterise the sector is one of cautious optimism.

Banks are stepping up efforts on gender lending

Progress is being made to increase access to finance for women: 70% of the banks in our survey have a gender strategy in place and sponsor women and gender-focused initiatives in the community, an increase of 10 percentage points on the share in the 2021 survey. When it comes to women and asset quality, four in ten banks found that non-performing loan rates for women-led businesses were lower than the average rate of their loan portfolios. In some countries, the difference was even greater. For example, in Nigeria, 71% of banks observed lower non-performing loan ratios for women, as did 50% of banks in Kenya.

The slowdown of the global economy and the tightening of financing condition amplify the economic problems facing Africa

Accelerating digital transformation

The pandemic led to an acceleration in the rate of digitalisation of the banking sector, as banks were forced to use digital channels to reach customers. Ninety percent of banks agree that the pandemic has accelerated their internal digitalisation transformation and 70% say that they increased the range of digital services available to customers. However, there are constraints to increasing digitalisation, with three-quarters of banks ranking cybersecurity risks as the biggest issue. The rapid growth of the FinTech sector has been another catalyst for increased digitalisation. The entire FinTech ecosystem in Africa has grown to more than 1 000 active companies in April 2022, up from 450 in 2020. Of these, 80% are homegrown and 20% come from outside Africa. Payments and lending services are still the dominant products, but the sector has diversified. The increasing competition from this sector is a key concern for banks, with more than half of banks listing it among their top three issues.

Climate issues still in focus

Almost 42% of banks assessed the climate exposure of their portfolio in 2021. In 2022, this has increased to 46% but with an additional 26% now planning to do so – none were planning this in 2021. Nearly 70% of banks see climate lending as an opportunity to fight climate change. To date, only one-fifth of banks have introduced green lending products, meaning there is significant scope to expand green lending – provided banks obtain support to do this. About 60% cite lack of expertise, data and tools for climate risk as a barrier to doing more on identifying climate risks and opportunities. In addition, two-thirds of banks think that IFIs can help them expand green lending by providing training and technical assistance. This sets out a clear policy objective for IFIs in terms of growing green lending.

Financial markets are also supporting climate change. The issuance of ESG bonds by African entities increased substantially to almost $5.1 billion in 2021, eclipsing the previous high of $3 billion set in 2018 before the pandemic, with a significant increase in the issuance of sustainability-linked loans and sustainability bonds. Banks and sovereigns were the principal issuers of ESG financial instruments in Africa in 2021. Historically, ESG issuance in Africa has been dominated by corporate issuers so recent developments point to a wider range of actors getting involved in ESG financing.

Nonetheless, the size of the green debt market in Africa is still small on a global scale and green funding costs are inflated by high sovereign risk.

Private capital

African private capital markets had a strong year in 2021. Fundraising reached pre-pandemic levels, following a significant fall during the pandemic. Private investment, which had remained quite resilient during the pandemic, grew by 48% annually to reach $6.3 billion, surpassing the previous peak of $5.4 billion set in 2014/2015. The increase in investment in 2021 was driven largely by the venture capital side, which saw deal value increase from $485 million in 2020 to $3.23 billion in 2021. Roughly half of this investment was in FinTech. Nigeria was the largest market for private equity/venture capital investment in 2021, followed by South Africa. Private equity is also contributing to the growth of green financing. There has been a surge in fundraising for climate-focused investing in recent years. However, like green financing, tougher market conditions in 2022 mean the record volumes seen in 2021 are unlikely to be repeated.

Distributed by APO Group on behalf of European Investment Bank (EIB).

Energy

South Sudan’s Joint Operating Companies to Engage International Partners at South Sudan Oil & Power (SSOP) 2026

Published

on

Etu Energias

DPOC, GPOC and SPOC will connect with international contractors, technology providers and financiers to explore opportunities to restore production, improve recovery and upgrade existing petroleum infrastructure

JUBA, South Sudan, November 12, 2026/APO Group/ –South Sudan’s joint operating companies, Dar Petroleum Operating Company (DPOC), Greater Pioneer Operating Company (GPOC) and Sudd Petroleum Operating Company (SPOC), have been confirmed as sponsors of South Sudan Oil & Power (SSOP) 2026, taking place November 24–25 in Juba. Responsible for South Sudan’s producing oilfields, the three companies represent major commercial opportunities for international oilfield service providers, engineering contractors, equipment suppliers, technology developers and financiers seeking to support the rehabilitation and expansion of the country’s petroleum industry.
 




 

 

Returning for its seventh edition, under the theme Resource Renaissance – Energy-Fueled Growth for a New Generation, SSOP 2026 comes as South Sudan targets an increase in crude production from approximately 170,000 barrels per day (bpd) to 230,000 bpd in the short term. Achieving this ambition will require investment in mature-field rehabilitation, enhanced oil recovery, well interventions and modern operating technologies, creating commercial opportunities for international oilfield services companies.

DPOC, GPOC and SPOC are central to this production growth strategy, operating established petroleum assets through joint ventures involving national oil company Nilepet and international partners. Their participation at SSOP 2026 will provide prospective commercial partners with opportunities to engage directly with the companies responsible for maintaining and expanding production from South Sudan’s existing fields.

GPOC, whose consortium includes China National Petroleum Corporation (CNPC), Nilepet and ONGC Videsh, operates Blocks 1, 2 and 4 in Unity State. In May 2026, the company increased production to approximately 60,158 bpd from 40,000 bpd, supported by reservoir studies, production enhancement measures and field development activities. The increase demonstrates the potential for targeted technical interventions to improve recovery and extend the productive life of mature oilfields.

https://apo-opa.co/48OFBXp

https://apo-opa.co/4zldtpV

DPOC operates Blocks 3 and 7 in Upper Nile State, including the Paloch production area. The company, whose consortium includes CNPC, Nilepet, Sinopec and Tri-Ocean, was producing approximately 100,000 bpd as of June 2026. Its established operations present opportunities for drilling contractors, reservoir specialists, engineering firms and equipment suppliers to support production optimization, well development and infrastructure upgrades.

https://apo-opa.co/4BYeYNg

South Sudan also reached a preliminary agreement in October 2026 to transfer PETRONAS’ former stakes in DPOC and GPOC to Russian state-owned Zarubezhneft, potentially bringing additional expertise in mature-field rehabilitation, enhanced oil recovery and infrastructure development to the country’s upstream sector.

https://apo-opa.co/48Osx4p

Meanwhile, SPOC, which operates Block 5A, contributes approximately 14,000 bpd to national production. Its operations offer further opportunities for technical partnerships focused on sustaining output, rehabilitating existing facilities and improving operational efficiency.

https://apo-opa.co/4zldtpV

Beyond brownfield optimization, the joint operating companies’ established partnerships also provide a foundation for broader upstream investment, including opportunities to collaborate with Nilepet on the development of South Sudan’s available exploration acreage. With 14 exploration blocks open to prospective investors, the country is seeking international operators and financiers to accelerate greenfield development and expand its future production base.

As sponsors of SSOP 2026, DPOC, GPOC and SPOC will provide international industry players with an opportunity to engage with South Sudan’s established operating companies and explore commercial partnerships across the upstream value chain.

To register for South Sudan Oil & Power 2026 in Juba on November 24–25, visit: https://SouthSudanOilPower.com/

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

 




 

Continue Reading

Business

Creative Africa Nexus (CANEX) Create-thon, Powered by Gebeya, Announces Nine Winners at Afreximbank’s Creative Africa Nexus Weekend (CANEX WKND) 2026

Published

on

CANEX

Live pitch finale recognises AI-powered African creativity across gaming, video and music

LAGOS, Nigeria, November 12, 2026/APO Group/ –Nine creators have been named winners across gaming, video and music at CANEX WKND 2026, following the live pitch finale of the CANEX Create-thon, powered by Gebeya. Held on 6 November at the Wole Soyinka Centre for Cultural and Creative Arts in Lagos, the session brought together finalists, industry judges and creative and technology leaders to explore Africa’s opportunities in the artificial intelligence economy.

 




  

Organised through the African Export-Import Bank’s (Afreximbank) Creative Africa Nexus (CANEX) programme, in partnership with Gebeya and the Afreximbank Innovation Lab, the competition challenged creators to turn African-inspired ideas into working projects using Gebeya’s Dala Studio. Participants used AI tools within Dala Studio to produce digital games, videos and music, supported by computing resources and technical guidance. The session- which also marked the official launch of the Afreximbank Innovation Lab-aimed to demonstrate how access to technology can help African creators turn ideas into AI-powered digital creations, while examining the skills, infrastructure and commercial opportunities needed to build sustainable creative businesses. Alongside the live pitches, a panel discussion explored the theme, “Claiming Our Stake in the AI Revolution”, bringing forth a much needed conversation on the opportunities as well challenges of this fast evolving area, as well as what it means for African creators.

According to Gebeya, around 6,000 creators from 43 countries participated in the competition, submitting 792 games, music tracks and videos built on Dala Studio. The top three creators in each category advanced to the live pitch finale.

Speaking at the opening of the session, Temwa Gondwe, Director, Creatives and Diaspora at Afreximbank, emphasised that Africa’s creative influence must translate into greater ownership and economic returns. He called for affordable computing power, accessible creative tools, effective distribution channels and stronger protection of creators’ intellectual property.

“The question is not whether Africa will participate. The question is how much value Africa will create and own and retain,” Gondwe said.

He highlighted the importance of connecting creators with investors, buyers and audiences, arguing that access to technology must be accompanied by opportunities to build sustainable businesses.

The nine category winners were:

The question is how much value Africa will create and own and retain

  • Gaming: Feven Birhanu, first place; Micheal Nomyongo, second place; and Angulu Paul Otoroza, third place.
  • Video: Racheal Ifeoma Ogugua, first place; Hassan Ahmed, second place; and Temilorun Okediji, third place.
  • Music: Ndaya Victoria Mulidiki, first place; David AMA, second place; and Nadia Eman Ibrahim, third place.

The competition offered a total prize pool of US$50,000. Under its published award structure, first-, second- and third-place prizes in each category are US$7,000, US$3,500 and US$1,500 respectively, with additional awards for qualifying creators from the top 20 African countries.

The live pitch judging panel comprised Oluwasemilore Oludipe, Programmes Manager at Co-creation HUB (CcHUB); Mayenzeke Baza, Chief Investment and Development Officer at CEEIT; and Miebaka Anga, Strategic Partner Manager at YouTube.

Amadou Daffe, Chief Executive Officer and Co-Founder of Gebeya, urged young Africans to move beyond experimenting with AI and use it to create products and services that generate income.

“Knowledge is in the pocket. The question is, what do you do with it?” Daffe said.

He argued that the practical challenge is helping creators recognise and pursue the commercial possibilities of the technology. Drawing on Gebeya’s experience, he highlighted the importance of local-language capabilities and local-currency payment options in making digital tools more accessible to African users.

The panel was moderated by Omolabake Olagunju, Programme Manager at CcHUB Creative Economy. Joining Daffe were Malik Afegbua, Founder of Slick City Media; Uchechi Arinze, Creative Director and Founder of CHéCHI; Ibrahim Tsado Yisa, Africa Director at Udu Technologies; and Oo Nwoye, Founder of TechCircle.

The discussion examined how AI is changing the creation and consumption of creative work, including questions of ownership and originality. Contributions also explored intentional storytelling, cultural representation, algorithmic bias and the cost of accessing digital tools, highlighting the need to consider whose stories are being told and how African cultures are represented.

Emeka Onyia, Afreximbank’s Director, Digital Business and Innovation, described the session as an inaugural activity for the Afreximbank Innovation Lab. He said AI was lowering some of the equipment and production barriers facing creators, while stressing that skills and the effective use of tools remained essential. He also outlined the Lab’s ambition to bring people together to develop ideas and technologies that support African trade.

With a format centred on working projects rather than proposals alone, the Create-Thon combined practical technology access, mentorship and industry exposure. Gebeya also acknowledged IREX’s support for the initiative.

For Afreximbank, the competition forms part of its broader work through CANEX to develop and commercialise Africa’s creative and cultural industries, helping creators reach markets, attract partners and retain more value from their work.

Distributed by APO Group on behalf of Afreximbank.

 




 

Continue Reading

Business

Emirates wins Gold at the 2026 Global Performance Marketing Awards

Published

on

Emirates was recognised as the first-ever winner of the Best Travel, Leisure & Experience Campaign award for its work to transform its affiliate marketing programme in Asia Pacific (APAC)

We’re proud to be recognised at the Global Performance Marketing Awards

DUBAI, United Arab Emirates, November 12, 2026/APO Group/ —

  • Inaugural winner in the Best Travel, Leisure & Experience Campaign award category
  • Recognised for the transformation of its Asia Pacific affiliate programme
  • Performance marketing is a fundamental customer growth driver for Emirates

 




  

Emirates (www.Emirates.com) has won Gold in the inaugural Best Travel, Leisure & Experience Campaign category at the 2026 Global Performance Marketing Awards.

Emirates was recognised as the first-ever winner of the Best Travel, Leisure & Experience Campaign award for its work to transform its affiliate marketing programme in Asia Pacific (APAC) – one of the world’s most competitive travel markets where online travel agencies, airlines and travel agents all compete for the same affiliate partners.

The airline rebuilt its affiliate marketing programme by shifting from broad publisher volumes to a refined partner base that works harder without sacrificing efficiency, strengthening direct relationships, and focusing on investments that delivered the greatest impact, along with expanding into new affiliate partner categories. As a result, the airline’s revenue growth from performance marketing in APAC rose 31% in a single year.

At Emirates, performance marketing operates as a strategic engine for customer growth, not only as a marketing channel. An internal team of specialists combine channel expertise with advanced analytics, attribution, customer insights and rich first-party data, and keep a consistent focus on driving incremental revenue, customer quality and lifetime value.

Boutros Boutros, Executive Vice President, Corporate Communications, Marketing & Brand for Emirates Group, said: “We’re proud to be recognised at the Global Performance Marketing Awards. This accolade underscores the team’s commitment to deliver real value for our customers and for the business. Performance marketing is a fundamental commercial growth driver for Emirates, and the team’s rigorous, data-led approach combined with smart automation, delivers substantial value back to the business. Their success is driven by clear strategy, well-defined objectives and disciplined execution, and we’ve improved both the quality of our bookings and revenue outcomes in APAC. It’s a win-win, and congratulations to all the teams involved.”

Emirates’ performance marketing at a glance

  • A core team in Dubai covers affiliate marketing, paid search and metasearch, supported by over 60 digital marketing colleagues and hundreds of partners globally. Together, these three channels delivers more than a third of new customers acquired through emirates.com.
  • The team manages strategy and execution for more than 5,000 always-on campaigns worldwide across search engines, flight search websites and affiliate marketing partners. Big data from partners powers this always-on engine and guides strategic investment decisions supporting more than 4,000 routes in 80 markets.
  • High levels of automation and strict processes allow the team to operate at this scale while keeping decisions consistent, with dedicated specialists across each discipline ensuring best-in-class execution and governance.
  • Exclusive partnerships enable Emirates to bring industry-first and industry-leading advertising solutions to market.

About the awards

The Global Performance Marketing Awards recognise work that drives measurable growth across performance and partnership marketing, and represent the collaborative efforts of brands, agencies, publishers and technology platforms. Entries are scored independently by multiple senior judges from brands, agencies and publishers across the industry, assessing each entry on strategic clarity, quality of execution, partnership collaboration and measurable commercial impact.

This latest win follows Emirates’ shortlisting at the Global Search Awards for Best Use of Search (Travel/Leisure).

Distributed by APO Group on behalf of The Emirates Group.

 




 

Continue Reading

Trending