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In its 20th year, Mukuru named in FXC Intelligence Top 100 Cross-Border Payment Companies list for fifth time in a row

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2 years ago

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Mukuru

The recognition coincides with the financial services platform turning 20 years old and still growing

CAPE TOWN, South Africa, April 29, 2024/APO Group/ — 

As next-generation financial services platform Mukuru (https://www.Mukuru.com) marks the major milestone of being in business for 20 years, FCX Intelligence has announced that it has made the list of Top 100 Cross-Border Payment Companies for the fifth successive year. The award goes a long way in demonstrating how Mukuru has remained relevant for two decades while still innovating to remain so in the future.

FXC Intelligence is the industry leader in cross-border payments data and intelligence. FXC Intelligence founder and CEO Daniel Webber says: “Mukuru’s presence among the Cross-Border Payments 100 for five consecutive years underscores its dedication to providing innovative financial solutions across borders. Its commitment to leveraging technology and fostering financial inclusion has positioned it as a key player in the industry, recognised by FXC Intelligence for its impactful contributions.”

Mukuru’s CEO Andy Jury says the recognition is validation of the business’s customer-centric and solution-oriented approach. “It is humbling to be recognised in the company of many esteemed businesses that have been in existence far longer than us. These businesses have transformed the financial services landscape globally. It is testimony to the hard work we have put in collectively, which we call the orange energy coursing through our veins – a metaphor for the passion to grow and deliver value to our customers.”

Despite being named on the list for five straight years, Jury says that Mukuru is not static and in its 20th year will continue striving towards reaching more customers in more markets. “While the recognition is great validation of our approach and vision, we really feel that we have only scratched the surface and our work is still in its infancy. Our orientation is to continue to focus on how we can scale our business, how we can solve problems for our customers, and how we can partner with many of the other esteemed businesses named on the top-100 list to continue to improve the lives of our customers.”

While the recognition is great validation of our approach and vision, we really feel that we have only scratched the surface and our work is still in its infancy

Jury says that one of the key ingredients to remaining relevant for 20 years has been the entrepreneurial spirit that forms part of Mukuru’s DNA. “In an emerging market environment you are always confronted with new challenges. You simply cannot rest on your laurels. There needs to be a perpetual focus on solving challenges and addressing customer problems. This has kept us true to our mission, and young and entrepreneurial at heart. It means we focus less on yesterday’s success because our focus must be zeroed onto what’s coming over the horizon,” says Jury.

Looking back, Jury believes that because the business was founded with a single use case it was able to build scale and runway to develop into the successful financial services platform it has become. “We started with a fairly deep but narrow challenge. That was remittances. This enabled us to build scale without needing to manage the complexity that comes with multiple geographies and customer types. It was an homogenous focus on a single problem that was built in a modular way to be re-used in new use cases. That efficiency meant there was value coming in through the front door so we could bootstrap ourselves up off of that,” he explains.

Jury says that this focus was vital over the past 20 years as Mukuru bootstrapped itself without the benefit of outside funding in its formative days. “We have had to remain focused and learn to prioritise because we are a business that has always paid for ourselves. We needed to generate value to keep the lights on and continue growing. This ensures a sharp focus, especially in head winds.”

Shifting his gaze to how the business has evolved from a remittance business to a next-generation financial services platform, with various financial products and services for different customers in different markets, Jury says the modular approach birthed in the early days – of developing solutions for similar but slightly different customer bases and then expanding that network in terms of geographical reach and associated accessible markets –  enabled this.

However, despite this, Jury believes that a fintech’s success is directly proportional to how it listens to its customers and addresses their needs. “What was very important to us from day one with five customers to today with more than 16-million customers hasn’t changed. It is the notion of walking in the shoes of our customers: Understanding their needs, wants and challenges and then building solutions to address those as opposed to starting with a nice shiny product and then trying to force it onto a customer base.”

With the knowledge and insight that comes from being at the helm of a 20-year-old business that is growing and continually deploying new products and services, what advice does Jury have for fintechs?

The key is focus, the ability to prioritise and an understanding that everything must exist in a sense of balance. Focus on what you are good at, focus on the problem or opportunity you are addressing, and don’t forget the customer. Focus on something that has a deep addressable market that is going to allow repeat touch points, and then, very importantly, try not to be too distracted by shiny innovations as they may be just that: distractions.”

Distributed by APO Group on behalf of Mukuru.

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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2 days ago

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February 6, 2026

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Business

Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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3 days ago

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February 6, 2026

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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Business

The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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3 days ago

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February 6, 2026

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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