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India to lead worldwide consumer growth with 31% of new consumers; digital economy to surpass US$1 trillion in Latin America (LatAm) and Africa

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It is interesting to observe how the innovation brought by alternative payments is improving the whole ecosystem, and impacting cards as well – including debit ones

CURITIBA, Brazil, January 25, 2024/APO Group/ — 

Clients in major rising economies like Brazil, India, Kenya, and Nigeria are pulling the global digital market up by paying online purchases with instant payments, transfers, and other alternative payment methods – including for B2B transactions; Cards are still strong in digital, with high penetration of domestic brands and debit bringing new consumers to the online sales world, points out the new EBANX’s (www.EBANX.com) Beyond Borders study; Digital payments in Africa have jumped from a 23% to a 46% penetration rate in less than eight years and continue to drive growth in digital commerce.

Rising markets in Latin America, Africa, and Asia are guiding the global surge in new consumers, with India leading the way, by adding 34 million people to the consumer class this year, almost one third of the 109 million worldwide. After Asia, Africa and Latin America are, respectively, the second and third regions to add more people, per the World Data Lab. This general consumer increase led by these three dynamic regions unfolds into the digital commerce realm as well: combined, LatAm’s and Africa’s digital commerce markets are expected to surpass US$1 trillion in total value by 2026, while India’s will be over US$275 billion, per Payments and Commerce Market Intelligence (PCMI) data in the new annual Beyond Borders (https://apo-opa.co/3OiQ1F4), EBANX’s comprehensive study about the digital market and payments in rising economies, which was launched today.

While digital commerce is growing by 13% or 12% per year in more consolidated markets around the world, like the U.S. or Europe, online sales are expanding at a much faster pace in rising economies, of 20%, according to Statista’s data, in the study. Over half of the population in these regions already embraces digital payments, positioning them as central to economic growth and consumer access.

There is a solid demographic reason for this: rising economies have a young and growing population, contrasting developed regions. In addition to the demographic and economic push, rising economies largely benefit from digitization,” states Paula Bellizia, President of Global Payments at EBANX. “The digital revolution has been disrupting industries and unlocking opportunities for both local and global players, from verticals spanning from SaaS, digital ads, and B2B online trade, to gaming, streaming, social media, and e-commerce. And payments have been the backbone of this growth,” she added.

Latin America’s digital market will nearly double in size by 2026, reaching US$944 billion after growing at a 23% CAGR, per PCMI data for Beyond Borders, showcasing robust opportunities. Brazil, LatAm’s digital commerce powerhouse, boasted a US$275 billion market last year, and stands out as a prominent force, ranking fourth globally in the number of digital buyers, according to Insider Intelligence.

There is a solid demographic reason for this: rising economies have a young and growing population, contrasting developed regions

Also emerging as strong contenders are Mexico, Colombia, and Peru, which display annual growth rates of around 30% for digital commerce. Central America & Caribbean countries like Costa Rica, El Salvador, Panama, Guatemala, and the Dominican Republic will not slow down either, accelerating at an annual pace of around 20% by 2026, proving that a block approach to this Latin region can add up to the global expansion strategy of any global digital player.

India is another perfect example of the digital potential in rising economies: the Asian country is the world’s second-largest online shopping market, only behind China, with around 350 million people boosting a digital commerce market that surpassed US$184 billion last year. And yet, online sales penetration rate is still at 33%, as pointed out by Insider Intelligence’s data in Beyond Borders, showing the substantial untapped opportunity that still exists in the country – particularly if efforts are directed towards improving payment access for India’s diverse population.

Financial inclusion was at the center of two strong cases inspiring the world: UPI in India and Pix in Brazil. With great user experience, zero-cost services to consumers and minimal to no charges for merchants, the two systems are revolutionizing both offline and online purchases: Pix is part of the daily lives of 4 in every 5 adults in Brazil, according to the country’s Central Bank. Over the last three years, nearly 8 out of 10 customers making their initial online purchase with an EBANX merchant opted to use Pix for payment, per EBANX internal data. In India, UPI has a 41% share of the total digital commerce, according to PCMI, being the utmost chosen payment method by Indian online consumers.

As an early adopter of digital payments, and soon to be home to an adult population of 1 billion by 2030, Africa is also an important region for the outstanding digital growth of commerce and payments. After heavily embracing digital payments, which jumped from a 23% to a 46% penetration rate considering many of its countries in less than eight years, Africa is now on the verge of its next big leap: digital commerce, fueled by cell phone  penetration rates and constant adaptability of local, alternative payment methods to the online world, like mobile money, which reached almost universal penetration in countries like Kenya.

It is interesting to observe how the innovation brought by alternative payments is improving the whole ecosystem, and impacting cards as well – including debit ones – which remain steady and keep playing an important role in the digital economy as account ownership surges in rising markets. “Cards and alternatives are learning from one another, absorbing features from one another, paying attention to the needs of merchants and consumers,” Bellizia noted. Combined, credit and debit cards represent 51% of digital commerce value in Brazil, 66% in Mexico, and 75% in Chile, according to PCMI data in Beyond Borders. In India, cards account for 43% of the value of online transactions; and the high penetration goes to African nations as well: in Morocco, 42%; in Nigeria, 36%. “A payments strategy for rising markets needs to consider a balance between cards and alternative payments, adapted to specific countries, verticals, and business models, centered in offering the best payment experience to customers, enabling them to pay with their method of choice. This fosters true access,” she added.

The new Beyond Borders report is also revealing the next frontier for innovation and growth in the payments industry: B2B payments – companies purchasing from other companies. Currently 42% of Kenyan businesses and 63% of Indian ones make online purchases. In LatAm, 64% of businesses in Brazil and an impressive 85% in Colombia, way higher than the global average of 50%, according to OECD and UNCTAD data. By 2027, rising markets in LatAm, Africa and Apac will make up for 40% of the total value of B2B payments made online worldwide, and yet an estimated 70% of B2B transactions are still pretty much manual, according to Capgemini, lacking more seamless flows. “This opens a massive opportunity in which alternative payments can be a game-changer: EBANX’s internal data show that local payments improve approval rates for B2B transactions, with internal rates that surpass 80%,” Paula Bellizia concluded.

Access the complete Beyond Borders 2024 study at https://apo-opa.co/3OiQ1F4.

Distributed by APO Group on behalf of EBANX.

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

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Etu Energias

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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