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Leading Digital Payment Solutions Provider Network International Reports a Strong Strategic Execution with Q3 Revenue up 28%

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2 years ago

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Network International

Network is a leading enabler of digital commerce across the Middle East & Africa, focused on helping businesses and economies prosper by simplifying commerce and payments

DUBAI, United Arab Emirates, October 19, 2022/APO Group/ — 

The company, which operates across Africa and the Middle East, has seen another quarter of financial and strategic delivery, underpinning full year expectations; Figures include positive licensing updates to access new revenue pools; A record period of new wins with four new financial institution, totaling 13 year-to-date. Also signed first credit processing agreement in South Africa; Direct-to-merchant TPV in Africa (DPO) increased 30% y/y in constant FX.

Network International Holdings Plc, Q3 2022 trading update

Network International has announced a 28% increase in year-on-year revenue for Q3 2022. Network is a leading enabler of digital commerce across the Middle East & Africa, focused on helping businesses and economies prosper by simplifying commerce and payments.

Nandan Mer, Chief Executive Officer, commented: “We continue to make positive strides in executing against our strategy, delivering yet another high growth quarter with 28% y/y revenue growth. During the period we won record levels of new business in the UAE and continued our market entry in Saudi Arabia. I am also thrilled to see Network leading the industry with positive licensing updates in the UAE, Egypt, Kenya and Saudi Arabia, whilst continuing to strengthen our relationship with major customer Emirates NBD. We face the future with excitement knowing we have several growth levers available, supported by the scale, capabilities, people and trusted brand to fulfill our purpose of helping the economies and customers we serve to grow and prosper.”

Strategic update, twelve months post Capital Markets Day

The largest consumer payments business across the Middle East and Africa

Network is a high growth payments business operating at scale across countries with large consumer spending pools, young populations and an accelerating secular shift from cash to digital payments. It is the largest acquirer delivering payment services directly to over 150,000 merchants in the UAE, Jordan, South Africa and a further 20 markets across Africa. It also manages over 17 million digital payment credentials for over 200 financial institutions in more than 50 countries. Whilst operating at scale, Network remains a local business with on-the-ground presence in over 20 markets.

Successful delivery of strategic priorities

Network’s growth-oriented strategy is focused on scaling existing markets, targeting new markets, expanding capabilities and diversifying revenue streams. Its focus markets in Africa remain Egypt, South Africa and Kenya. At its Capital Markets Day in September 2021, Network set out a new strategy to drive faster growth and has already delivered on a number of key commitments:

  • Financial growth: on track to deliver 2022 financial guidance of 27-29%1 revenue growth and modest underlying EBITDA margin expansion; returning excess cash of up to USD 100m through a buyback.
  • Acquisition of Africa direct-to-merchant business (DPO): has broadly doubled e-commerce revenue, added alternative payment capabilities and accelerated SME signings across the Group.
  • Financial institution processing business: seeing record levels of revenue growth as a result of new customer wins, accelerated transaction growth and the cross-selling of value-added services.
  • Further growth opportunities: launching direct-to-merchant services in Egypt and have successfully started to establish contract wins in the commercial payments processing space.

Several regulatory approvals in African key markets

Network welcomed the increasing regulatory frameworks being introduced across its markets, having recently received approvals to provide direct-to-merchant business in two markets:  

  • Kenya: Network has been authorised by the Central Bank of Kenya to act as a Payment Service Provider and continue providing payment gateway services in Kenya, with direct-to-merchant services by DPO.
  • Egypt: Network has approval to operate as a payment facilitator and a payment service provider working through local Financial Institutions. It intends to launch direct-to-merchant payment services during the fourth quarter. (As a reminder, Network’s existing processing activities on behalf of financial institutions do not require a license).

Issuer Solutions business line review

Revenue driven by new business and digital transaction growth

Solid revenue growth is reflective of the large number of customers signed in the prior year and ongoing strength in the number of transactions, which has continued to grow throughout the year-to-date. Both the Middle East and Africa saw y/y growth in the number of credentials hosted and transactions processed, with performance in Africa being particularly strong.  

Signed four new financial institutions, totaling 13 new wins year-to-date

Network secured four new financial institution customers during the quarter. It also expanded its relationship with Access Bank to support the launch of their credit card services in South Africa.

New capabilities include the launch of commercial payments services

  • New business in commercial payments: Network has started to launch commercial card processing services with a number of wins in the space. The commercial payments landscape represents a potential new revenue pool and a cross-selling opportunity to existing customers.
  • Payment installment by SMS: introduced for two existing financial institution customers.
  • Partnership with Mastercard expands: having collaborated with Brighterion, Mastercard’s artificial intelligence arm, to provide fraud mitigating services which can identify anomalistic transaction behaviours and fraud monitoring.

Merchant Solutions business line review

Merchant Solutions revenue momentum in Africa

Africa (DPO Group): DPO saw TPV up 14% y/y or 30% in constant FX1, whilst revenue grew 16% y/y or 29% in constant FX1.Merchant signings have reached new record levels, supported by SME wins

New signings in Q3 reached record levels, above the rates seen in the first half of the year, with no significant customer losses. The pace of SME signings accelerated through the period, which has been supported through the recent launch of ‘DPO Pay’ services in the UAE and tap-on-phone signings, which allows a merchant to take payments through an app on their own mobile phone.

Enhancing capabilities and value-added-services

  • Roll out of the WooCommerce plugin for SME merchants: creating an online store, shopping cart and checkout in 48 hours.     
  • Introduced online government payments in Namibia: through proprietary N-GeniusTM gateway in partnership with Standard Bank.
  • Continued development of Unified Commerce services: enriching ‘Click & Collect’ services through the option to ‘Buy online and return in store’.
  • Extended longstanding data analysis partnership: with one of the region’s leading retail and shopping facilities operators.

DPO’s new capabilities broadening their merchant reach

Customer wins at DPO remain healthy with the group securing several key merchants in the period, including Radisson Blue, Homemark, KFC Ghana and Zamtel. DPO has integrated payment capabilities with Odoo, a widely used e-commerce software, simplifying the process for retail merchants to choose DPO as their payment provider. DPO has also partnered with IATA Financial Gateway (IFG), IATA’s global distribution system, widening their potential merchant customer base to a further one-hundred airlines including British Airways and Air Canada.

Egypt direct-to-merchant payment services launching before the end of the year

Network will soon be launching direct-to-merchant services in Egypt following approval of the relevant licenses by the Central Bank. As a reminder, Network is already a large-scale provider of processing services to financial institutions in the country. Direct-to-merchant services will be a new revenue opportunity which is expected to be built from 2023 and will be focused on SMEs and expanding existing relationships with large-scale customers in the region.

Growing acquirer processing business via partnerships across Africa

Network has extended its partnership with Tymebank to support the growth of the bank’s payment acceptance capabilities in South Africa through the roll-out of tap-on-phone payments; enabling its SME merchant customers to take payments using an app on their own mobile device. Similarly, Network has also further extended its acquirer processing offer through agreements with I&M Bank in Kenya and Access Bank in Ghana, expanding its acquirer processing services across Africa.

Distributed by APO Group on behalf of Network International.

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Yellow Card Secures Crypto Asset Service Provider Licence in South Africa

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21 hours ago

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November 21, 2024

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Yellow Card

Stablecoin adoption is surging throughout Africa, with sub-Saharan Africa having the highest adoption rate in the world at 9.2%

JOHANNESBURG, South Africa, November 20, 2024/APO Group/ — 

Yellow Card (www.YellowCard.io), Africa’s leading stablecoin-based infrastructure provider, has been issued a Crypto Asset Service Provider (CASP) licence by the Financial Sector Conduct Authority (FSCA) in South Africa.  

Commenting on the FSCA’s decision to issue the licence to Yellow Card Financial South Africa, Chris Maurice, Yellow Card’s co-founder and CEO, said, “The CASP licence underscores Yellow Card’s commitment to its customers in South Africa and regulatory compliance across the continent.This achievement reflects our dedication to providing secure, compliant and transformative solutions for our customers both in South Africa and across Africa.  

The CASP licence underscores Yellow Card’s commitment to its customers in South Africa and regulatory compliance across the continent

Stablecoin adoption is surging throughout Africa, with sub-Saharan Africa having the highest adoption rate in the world at 9.2%. In South Africa alone, where the number of total users of crypto assets is estimated to amount to 5.8 million people, stablecoins have experienced growth of 50% month over month since October 2023, displacing bitcoin as the country’s most popular cryptocurrency.  Yellow Card is excited to play a pivotal role in this financial revolution in South Africa. 

Yellow Card, which launched in South Africa in 2020, has facilitated over US$3 billion in transactions in the last several years and now operates in 20 countries across the continent. The company recently completed a US$33 million Series C financing, led by Blockchain Capital and existing investors, including Polychain Capital, Valar Ventures, Third Prime Ventures, Coinbase Ventures, and Block, Inc. (Square/Cash App), reflecting strong investor confidence in its mission.   

As the stablecoin landscape continues to evolve, Yellow Card is committed to leading the charge in making digital assets accessible and secure for businesses across Africa. With the recent licensing and funding, the company plans to expand its B2B offerings by enhancing its stablecoin rails, upgrading infrastructure, and advancing its B2B API and Widget. These efforts will empower businesses with seamless solutions for liquidity management and their general operations. 

To learn more about Yellow Card, visit: https://YellowCard.io/. 

Distributed by APO Group on behalf of Yellow Card Financial.

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Telecoming and MTN Partner to Launch cloud gaming in South Africa

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21 hours ago

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November 21, 2024

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MTN Cloudplay will allow MTN users in South Africa to access a wide range of cloud-based video games, providing a high-quality gaming experience without the need for downloads or high-end gaming consoles

JOHANNESBURG, South Africa, November 20, 2024/APO Group/ —

  • Both companies extend their collaboration to introduce cloud gaming in South Africa.
  • MTN Cloudplay aims to revolutionize digital entertainment with affordable, high-quality gaming access.

MTN, Africa’s leading telecommunications operator with over 290 million subscribers across the continent, announces the launch of Cloudplay, a revolutionary new cloud gaming service, with Telecoming (www.Telecoming.com), a sportech company specializing in developing and distributing mobile experiences for sports and entertainment. This project marks a new milestone in the ongoing collaboration between the two companies.

MTN Cloudplay: A Game Changer

MTN Cloudplay will allow MTN users in South Africa to access a wide range of cloud-based video games, providing a high-quality gaming experience without the need for downloads or high-end gaming consoles. The service will allow customers to stream high-end PC games to their mobile phones, enabling them to play anywhere, anytime.

This service seeks to democratize access to high-quality mobile gaming for the whole family; including various genres which include retro games and exciting popular gaming titles with multi-device gameplay, at an affordable price of only R79 per month.

Jason Probert, General Manager for Digital Services at MTN South Africa shared his thoughts on the collaboration:

Customers can use their existing Steam licenses on the service, and have access to more than 300 games on the service for only R79 per month

“We’re thrilled to launch MTN Cloudplay in South Africa. We’re committed to enabling our customers to enjoy the benefits of a modern connected life and the advent of 5G means that it is now possible to stream and play games without the need for a PC or console. Customers can use their existing Steam licenses on the service, and have access to more than 300 games on the service for only R79 per month.”

Alí Karaosman, MEA Director of Telecoming says “It is very exciting for us to extend our collaboration with MTN, bringing our nearly decade-long experience in this market and supporting the operator in this innovative digital entertainment offering, we are convinced that MTN Cloudplay will revolutionize the way users in South Africa enjoy video games. For Telecoming, this partnership with MTN is a strategic step in our mission to bring esports and innovative digital services to Africa. We are committed to continuing to develop technological solutions that enhance digital leisure for people in the region.”

Service Details

MTN Cloudplay is available to all MTN users in South Africa since November 2024. With a vast library of over 340 games from over 50 publishers, this cloud gaming service offers an unmatched gaming experience on any device.

MTN Cloudplay is accessible to MTN subscribers. Users can visit https://Cloudplay.MTN.co.za to explore the platform and enjoy a wide selection of gaming titles.

Highlights

  • Extensive Game Library: Enjoy classics like Contra, PacMan and Mortal Kombat and modern hits like Hogwarts Legacy and Borderlands 3.
  • Bring Your Own License (BYOL): Access games you’ve purchased on Steam, such as Grand Theft Auto V and Fallout 4.
  • Multi-Device Access: Play on any device and switch seamlessly between them.
  • Low Latency: Experience responsive gameplay with minimal lag.
  • Subscription: Available directly on https://Cloudplay.MTN.co.za or via the MTN Play https://Play.MTN.co.za website for R79 per month.

Distributed by APO Group on behalf of Telecoming.

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rainx Launches the101 Range of 5G Fixed Wireless Access (FWA) Routers for Mobile Network Operators (MNOs)

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2 days ago

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November 20, 2024

By

rainx

The industry’s smartest and most aesthetically pleasing 5G and Wi-Fi 7 router opens new opportunities for service providers globally

JOHANNESBURG, South Africa, November 20, 2024/APO Group/ — 

rainx, a leader in 5G Fixed Wireless Access (FWA) solutions, has launched the101 range (https://apo-opa.co/40UwYYE), an advanced ecosystem of fixed wireless 5G and Wi-Fi access products designed to meet the high standards of modern Mobile Network Operators (MNOs), Mobile Virtual Network Operators (MVNOs) and their customers.

This lineup includes the101 and the101 Pro 5G smart routers, the101 Xtender smart mesh Wi-Fi extender, and the101 Loop – a new category of product designed for today’s always-connected customer, powered by MediaTek. Together, these solutions redefine 5G FWA, enabling operators to enhance network quality, reduce churn, and drive new revenue streams. The routers also offer a collection of 101 skins to suit the users’ style, creating devices that are designed to be on show.

Targeted to the demands of the modern telco

As demand for 5G-enabled FWA continues to surge, MNOs face complex challenges in scaling network capacity and quality for fixed locations, while managing the concurrent load on mobile networks. Recognising this challenge, rainx has engineered the Customer Edge approach, an integrated ecosystem of products and services designed to empower operators to manage and optimise the customer experience. This begins with the101 range of 5G smart routers, which double as network probes, feeding real-time insights to theStation, a smart managed services platform.

theStation provides operators with deep network insights, enabling accurate, proactive decisions on coverage and capacity expansion. Operators can access detailed data on network performance in the home, including Wi-Fi clients, usage patterns, speed and latency – providing proactive support and direct customer communication through the101’s touch screen. This visibility gives MNOs comprehensive control over the entire FWA ecosystem, helping to streamline network load management, anticipate capacity needs, and deliver high-speed connectivity for both residential and commercial customers.

For end-users, the101 range provides an intuitive, self-service interface that empowers customers to manage their network in real time, minimising support needs and enhancing the overall customer experience.

Key Products in the101 Range include:

the101 Pro 5G smart router

Built for premium, high-demand users, the101 Pro offers advanced 5G capabilities with the new MediaTek (MTK) T830 platform that delivers sub-6Ghz 5G with speeds of up to 7 Gbps, Wi-Fi 7 and 300MHz 4 carrier aggregation. The routers offer a range of customisable skins to suit the users’ aesthetic preferences that bring the Pro’s screen to life. Its powerful hardware ensures optimal performance for bandwidth-intensive applications, including cloud gaming.

Our Customer Edge approach provides operators with the deep insights they need to make informed decisions on their networks

Ripple Messaging™ offers MNOs a direct communication channel to the device’s 2.1” touch screen for real-time support and service notifications. It includes a built-in speed test and a “Tap for Support” feature. Additionally, theStation’s managed services enable proactive device management, optimising performance with real-time updates to ensure continuous service quality and reducing operational costs.

the101 5G Smart Router

rainx’s mid-range offering is powered by an MTK T750 platform with 200MHz two carrier aggregation and AX3600 Wi-Fi 6. With a 1.8” touch screen display, it offers smart features like “Scan to Connect”, direct messaging and a built-in speed test. It’s available with a choice of 101 skins to suit customer tastes. the101 also offers managed services through theStation.

the101 Xtender Smart Mesh Wi-Fi

the101 Xtender broadens 5G coverage, enabling MNOs to deliver high-quality, uniform connectivity throughout larger spaces. As part of the mesh network, Xtenders integrate directly with 101 routers, allowing operators to address Wi-Fi coverage gaps and deliver a consistent, high-speed experience across homes or office spaces.

the101 Loop

A new portable 5G router designed for today’s always-connected consumer. With built-in 5G, a 5.5” LCD touch screen, 25W stereo sound and a cinematic camera, the Loop lets you connect in exciting new ways. MNOs can leverage the Loop’s multimedia capabilities to offer premium services, build customer loyalty and create new ARPU (Average Revenue Per User) opportunities through integrated 5G and Wi-Fi.

“Through smart hardware and services, we’re partnering with MNOs and MVNOs to unlock the potential of 5G,” said Brandon Leigh, Founder and Director of rainx. “Our ecosystem empowers operators to monetise latent 5G capacity, create new revenue streams, and addresses the shift from spiky mobile traffic to high, steady usage at fixed locations. Our Customer Edge approach provides operators with the deep insights they need to make informed decisions on their networks, manage the customer experience and generate ROI from 5G.”

“For customers, the 101range allows them to blend their aesthetic preferences with beautiful customisable skins, alongside high-performance engineering powered by the latest MediaTek CPE technology. the101 range delivers a reliable, high-speed connection that stays robust during periods of spiky traffic. The range also offers intuitive self-service features, allowing customers to easily monitor and control their router, reducing the need for support calls and creating a seamless, hands-on user experience that truly puts the power in their hands,” Leigh concluded. 

Rami Osman, Director of Business Development for MediaTek Middle East and Africa, said: “We are excited to collaborate with rainx to increase 5G FWA access across Africa, Asia and abroad to bring the benefits of fast, reliable connectivity to consumers and businesses. The MediaTek T830 has a highly integrated and compact design that provides big power savings and reduces development time and costs for customers like rainx.

“The MediaTek T830 chipset platform represents the latest advancements in both 5G and Wi-Fi connectivity and enables our customers to build extremely high-performance multi-gigabit 5G CPE products in the smallest form factors possible. Users can get a super-fast router at home of office that they can self-install and manage, reducing the lengthy installation times for fixed line broadband,” Osman said.  

Distributed by APO Group on behalf of MediaTek Inc..

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