Connect with us

Business

Kifiya Becomes First Ethiopian Fintech to Receive Prestigious “Product Innovation of the Year” Award

Published

on

Kifiya

This recognition highlights the company’s commitment to building a digitally and financially inclusive future by leveraging AI and cutting-edge technology

ADDIS ABABA, Ethiopia, September 19, 2024/APO Group/ — 

Kifiya (www.Kifiya.com), a leading AI-powered, alternative data-driven scoring, embedded finance, and AgTech company, has been awarded the prestigious Silver Award in the Product Innovation of the Year category in Africa at the Global SME Finance Awards 2024, held as part of the Global SME Finance Forum in São Paulo, Brazil on September 17, 2024.

The Global SME Finance Awards, organized by the International Finance Corporation (IFC) and the SME Finance Forum, recognizes and celebrates institutions that have delivered innovative products and services and achieved impressive results in expanding finance and services to SMEs. Kifiya is the first Ethiopian company to win this award. This recognition highlights the company’s commitment to building a digitally and financially inclusive future by leveraging AI and cutting-edge technology to bridge the credit and market access gap in Sub-Saharan Africa.

“Receiving this award reflects our ongoing dedication to empowering African MSMEs, SHFs and low-middle-income individuals through AI-powered and data-driven solutions,” said Munir Duri, CEO and founder of Kifiya. “This also demonstrates Ethiopia’s new-found drive for innovation led by the reforms instituted by our Prime Minister, Dr. Abiy Ahmed, which have created an enabling environment and policies that foster and encourage innovation, allowing companies like ours to thrive.”

Unlocking Market Potential for SMEs

Africa’s SME sector, which represents up to 90% of all businesses and provides 60% of total employment, is crucial in driving economic growth for the continent. However, many SMEs struggle with limited access to finance, a challenge that Kifiya is tackling head-on. By providing digital platforms that improve market access and address the financing needs of these businesses, Kifiya is unlocking new growth opportunities. 

In Ethiopia, where 50% of the adult population remains unbanked, Kifiya’s financial solutions create pathways for thousands of SMEs to access much-needed credit and financial services. The company’s efforts have led to increased financial inclusion, stability, and growth for local businesses, contributing significantly to Ethiopia’s economic development.

Empowering SMEs and Low-Income Communities through Innovation

Kifiya’s AI-powered alternative credit scoring and rating technology infrastructure solves the challenges of MSMEs’ lack of collateral and credit history, enabling them to be credit-scored and access uncollateralized credit for the first time in Ethiopia. One of the earliest successes of rolling out this infrastructure was a partnership with the Cooperative Bank of Oromia, which introduced a digital lending product that has enabled close to 300,000 MSMEs to access over $100 million in uncollateralized credit to date.

Kifiya’s intelligent embedded finance tech infrastructure enables banks to originate, extend, manage, and collect uncollateralized digital credit and provide Sharia-compliant financial products relevant and appropriate to MSMEs in agri-food systems, manufacturing, and service sectors. The platform enables FinTechs and businesses to embed inventory credit and BNPL financial services, digitize eCommerce trade processes, and provide MSMEs with inventory credit.

Receiving this award reflects our ongoing dedication to empowering African MSMEs, SHFs and low-middle-income individuals through AI-powered and data-driven solutions

The company also offers an AgTech platform that digitizes smallholder farmers, enabling them to access credit, inputs, markets, and microinsurance to protect against climate-related risks and improve productivity. To date, more than 1.5 million smallholder farmers in Ethiopia have accessed more than $10 million of agricultural inputs.

In the transportation sector, Kifiya’s Mobility as a Service (MaaS) technology revolutionizes travel booking and payments, providing eco-friendly and convenient travel solutions. 

Kifiya’s Insurance Technology (Insurtech) provides a digital marketplace for affordable microinsurance products, ensuring low-income individuals can secure their futures against financial risks.

Driving System-Level Change in Sub-Saharan Africa

Recognizing that innovation can address many development challenges, Kifiya has combined its extensive AI and technology experience with a market system approach to design and implement solutions that target market inefficiencies and failures. Kifiya is utilizing its AI-powered products and data-driven infrastructure to drive the adoption of digital financial services and enable access to financial services and markets, one country at a time.

Munir Duri emphasized, “Our approach is about more than just technology. We are committed to driving sustainable, inclusive growth by solving systemic challenges that prevent millions of Africans from accessing finance and markets. This award motivates us to continue innovating and expanding our solutions across Africa.”

The company’s data-driven technology infrastructure supports financial institutions, smallholder farmers, low-to-middle-income individuals and MSMEs in accessing relevant credit products, reducing costs, and enhancing service delivery.

Looking Ahead: Scaling Impact Across Africa

The International Monetary Fund (IMF) projects an average 4.0% GDP growth rate for sub-Saharan Africa in 2025. With Africa’s population expected to reach 1.9 billion by 2050, Kifiya’s technology-driven solutions are poised to play a pivotal role in this economic transformation. 

Kifiya’s ongoing efforts to address the $400 billion credit gap and unlock market access for 44 million MSMEs and smallholder farmers will be critical to driving economic growth and financial inclusion across Sub-Saharan Africa. With a focus on scaling its innovative products, Kifiya is well-positioned to continue leading the charge in Africa’s digital financial services industry. 

https://apo-opa.co/4erx5yw (Link to a video of the Global SME forum 2024)

https://apo-opa.co/4gpdFfD (More information on the Global SME forum event)

Distributed by APO Group on behalf of Kifiya Financial Technology.

Business

World Football Summit Rabat at University Mohammed VI Polytechnic (UM6P) Concludes with Commitment to African Football Development and Global Collaboration

Published

on

World Football Summit

Over two days, the summit convened 1077 stakeholders from 70 countries, reinforcing Morocco’s role as a platform for sport-driven innovation and continental collaboration

RABAT, Morocco, April 10, 2025/APO Group/ –The inaugural edition of the World Football Summit (WFS) (https://WorldFootballSummit.com) Rabat 2025, held in partnership with Evosport, a subsidiary of UM6P, and in collaboration with the Royal Moroccan Federation of Football concluded after two days of exchanges on the state and the trajectory of football in Africa and its links to global dynamics.

Held on April 9 and 10 at UM6P’s Rabat campus, the summit convened more than 1077 football industry leaders from 70 countries, including decision-makers from 65 clubs, leagues, and federations. Under the theme “Where football innovation meets legacy”, the event provided a platform for reflection on the evolving role of Morocco and Africa in shaping the global football landscape, particularly in light of the continent’s growing visibility ahead of the 2030 FIFA World Cup, co-hosted by Morocco alongside Spain and Portugal.

“What we’ve witnessed in Rabat these past two days has been truly historic,” said Jan Alessie, Co-founder and Managing Director of World Football Summit. “The quality of discussion, the level of engagement, and the genuine commitment to collaboration have exceeded our expectations. This summit has not only showcased Morocco’s growing leadership in global football but has created tangible pathways for African football to accelerate its development through meaningful partnerships. The connections formed here between African football leaders and their international counterparts will yield benefits for years to come.”

Hicham El Habti, President of UM6P, stated: “WFS Rabat is a natural extension of our commitment to rethinking development models through knowledge, innovation, and continental collaboration. Football—like science, education, and technology—requires institutions that can convene, structure, and elevate ambition. By hosting and contributing to this summit, we are reinforcing Morocco’s and Africa’s capacity to lead with ideas, shape with values, and build ecosystems where excellence is cultivated and shared.”

The quality of discussion, the level of engagement, and the genuine commitment to collaboration have exceeded our expectations

The WFS Honors Ceremony, moderated by Mimi Fawaz (MC – WFS Rabat 2025), highlighted a number of initiatives and individuals whose work reflects a thoughtful approach to football development. The Academie Mohammed VI was recognized for its Local Grassroots Strategy to develop Sport. Frederic Kanoute received the WFS Honor for Exemplary Achievements in Football & Beyond for his contributions both on and off the pitch. OCP Group received the WFS Honor for Social & Community Impact through Sport for their transformative community initiatives. The Moroccan Football Federation (FRMF) was recognized with the WFS Honor for Exceptional Development in Women’s Football for their pioneering efforts in advancing the women’s game in Morocco. Finally, the African Club Association (ACA) was granted the WFS Honor for Uniting African Football. 

Discussions throughout the two days addressed pressing challenges and opportunities in the football ecosystem. Topics ranged from talent retention and financial models to technological integration and regulatory governance. Fouzi Lekjaa, President of the Moroccan Football Federation, presented Morocco’s vision for football development ahead of the 2030 World Cup. Shehu Dikko, Honourable Minister of Sports of Nigeria, reflected on how African football can become more sustainable. FIFA’s Regional Director for Africa, Gelson Fernandes, discussed pathways for strengthening football governance, while CAF’s Director of Tournaments, Samson Adamu, shared innovations in continental competitions formats.

The summit drew participation from organizations such as FIFA CAF, or ECA, government ministers from Nigeria, Ghana, and Kenya, as well as executives from properties such as LALIGA, FC Barcelona, or even the NBA, who engaged in discussions about cross-continental collaboration in sport governance and development.

Moreover, partners including Royal Air Maroc and TAQA played essential roles in the summit’s success, demonstrating the importance of public-private collaboration in advancing sports development.

The WFS global series continues with upcoming events in Monterrey (June 2025), Hong Kong (September 2025), Madrid (October 2025), and Riyadh (December 2025), creating a year-round platform for the football industry to connect and collaborate across continents.

For more information about World Football Summit’s 2025 events and registration details, visit www.WorldFootballSummit.com

Distributed by APO Group on behalf of World Football Summit

Continue Reading

Business

Invest in African Energy (IAE) 2025 to Host Panel on Advancing Africa’s Liquefied Natural Gas (LNG) Potential

Published

on

Invest in African Energy

A high-level panel at the Invest in African Energy Forum in Paris, powered by Perenco, will explore how Africa can overcome infrastructure and investment challenges to unlock its LNG potential while advancing energy security and sustainable development

PARIS, France, April 10, 2025/APO Group/ –The upcoming Invest in African Energy (IAE) 2025 Forum will feature a high-level panel on Advancing Africa’s LNG Potential: Overcoming Infrastructure and Investment Challenges, sponsored by Perenco. As global demand for natural gas rises, Africa’s abundant reserves and strategic location position the continent as a key supplier – provided infrastructure, regulatory and financing hurdles can be addressed.

Moderated by Jacqueline Chinwe, Global Future Energy Leader, the panel brings together influential voices from the LNG value chain. Confirmed speakers include Julius Rone, Managing Director of UTM Offshore; Mario Bello, Head of Sub-Saharan Africa at Eni; Dominique Gadelle, Vice President, Upstream & LNG at TechnipEnergies; and Denis Chatelan, Head of Business Development at Perenco. These leaders will share strategies to accelerate LNG development, including de-risking investments, leveraging blended finance models and strengthening regulatory frameworks to ensure commercial viability.

IAE 2025 (http://apo-opa.co/4lq1VMj) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Africa’s natural gas resources – particularly in countries like Nigeria, Mozambique, Senegal, Mauritania and the Republic of the Congo – are attracting growing international interest. Natural gas is expected to account for 40% of Africa’s oil and gas capital expenditures by the end of the decade, according to the African Energy Chamber’s State of African Energy 2025 Outlook Report. In West Africa, major projects such as Phase 2 of the Greater Tortue Ahmeyim development and the Yakaar-Teranga Gas Project in Senegal are set to significantly boost LNG production and regional gas-to-power capacity, while Eni’s Congo LNG project in the Republic of the Congo is leveraging FLNG technology to fast-track exports and monetize offshore reserves.

With major LNG projects advancing across the continent, investment momentum continues to build. Floating LNG solutions – such as UTM Offshore’s facility in Nigeria and Perenco’s Cap Lopez terminal in Gabon – are offering scalable, capital-efficient models for deployment. In Mozambique, Eni is expanding on the success of its Coral South FLNG by developing a second floating facility, Coral North. Meanwhile, gas-to-power initiatives hold strong potential to address chronic energy shortages, contributing to both energy security and the transition to a more sustainable, lower-carbon energy mix. The panel will explore how to align Africa’s export ambitions with domestic industrialization and energy access goals, driving inclusive economic growth while contributing to global energy security and environmental objectives.

Distributed by APO Group on behalf of Energy Capital & Power

Continue Reading

Business

Aptiway Global Hosts High-Level Delegation from the Democratic Republic of Congo to Advance Digital Transformation Agenda

Published

on

Aptiway Global

The workshop will also examine models for human capital development and institutional readiness that support long-term digital transformation

DUBAI, United Arab Emirates, April 10, 2025/APO Group/ –Aptiway Global (https://Aptiway.com) is pleased to announce that it will host a senior delegation from L’Agence pour le Développement du Numérique (ADN) of the Democratic Republic of Congo (DRC) for a high-level strategic workshop in Dubai from April 14 to 18, 2025. The workshop will take place at the Pullman Dubai Creek City Centre Hotel and is designed to foster technical collaboration, share experiences, and explore scalable digital solutions tailored to the DRC’s national priorities.

Led by Mr. Dominique MIGISHA, Coordinator of ADN, the delegation will engage in an intensive five-day program covering a wide range of strategic themes, including digital identity platforms, eGovernment systems, cybersecurity, data protection, and infrastructure interoperability. The workshop will also examine models for human capital development and institutional readiness that support long-term digital transformation.

Africa’s digital future depends on bold leadership and practical collaboration

This engagement aims to identify actionable outcomes that can accelerate the implementation of inclusive and secure digital ecosystems in the DRC. These include a roadmap for deploying national digital identity systems, strategic recommendations for eGovernment rollout, and a framework for ongoing technical cooperation between Aptiway and ADN.

Speaking ahead of the workshop, Mr. Shince Thomas, CEO of Aptiway Global, said: “We are honoured to host the ADN leadership. This visit underscores a shared vision for using technology as a catalyst for development, and we look forward to co-creating solutions that deliver real impact.” 

Mr. Dominique MIGISHA, Coordinator of ADN, added: “This collaboration with Aptiway Global is a timely opportunity to deepen our understanding of effective digital infrastructure and services. We are committed to translating this knowledge into tangible progress for the Congolese people.” 

Simplice Anoh, Co-Founder of Aptiway Global, also commented on the significance of the partnership: “Africa’s digital future depends on bold leadership and practical collaboration. This workshop reflects our shared commitment to building resilient, homegrown solutions that respond to local challenges while unlocking global opportunities.” 

The workshop reaffirms the value of cross-border collaboration in achieving sustainable digital transformation and highlights the Democratic Republic of Congo’s growing momentum in building resilient, future-ready digital systems.

Distributed by APO Group on behalf of Aptiway Global

Continue Reading

Trending