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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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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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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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Afreximbank

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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IsDBI

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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