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Meet Deel Local Payroll, Powered by PaySpace: The Next Evolution in Payroll Innovation

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1 year ago

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PaySpace

PaySpace moves closer to the Deel family with new branding yet the same people, dedication, and innovation

JOHANNESBURG, South Africa, March 3, 2025/APO Group/ –PaySpace by Deel is now Deel Local Payroll, powered by PaySpace (www.PaySpace.com)! One year after being acquired by Deel, PaySpace by Deel has officially transitioned into Deel Local Payroll, powered by PaySpace. This milestone isn’t just about a name change—it’s about why Deel acquired PaySpace in the first place.

PaySpace customers can expect the same powerful payroll platform, now under Deel’s global brand. Deel customers can utilise real-time payroll, which means real-time G2N (Gross-to-Net) calculations, shorter cut-off times, and less overall pressure and stress when running payroll across multiple countries.

Deel Local Payroll, powered by PaySpace, formerly known as PaySpace by Deel, is a market leader in payroll technology, with more than 20 years of payroll and HR experience. Its flexible solutions cater to a wide range of clients, including small businesses, enterprises, and payroll service providers. The company has built the most technologically advanced native payroll engine, serving clients in 44 countries across Africa and the Middle East. It has over 15,000 customers, including big brands like Heineken, Coca-Cola, and Puma Sports.

Deel is a trailblazer in global employee and payroll management, enabling its customers to operate in different territories and simplify the complexities of managing employees according to regional financial and legal requirements. With global operations in over 150 countries, Deel simplifies the complexities of international payroll and HR, enabling companies to manage their global workforce efficiently and compliantly. Founded in 2018, Deel is the fastest-growing unicorn in history (a unicorn is a privately owned startup valued at over US$1 billion—Deel is currently valued at over $12 billion), helping businesses hire anyone, anywhere.

PaySpace is now Deel Local Payroll: New Brand, Same Team and Innovation

The acquisition, concluded in 2024, aligns the award-winning Deel Local Payroll team and cloud-native PaySpace platform with Deel’s global operations. Deel Local Payroll is an independent subsidiary and a payroll product sold as a self-service option alongside Deel’s global payroll product. Deel customers benefit through enhanced, innovative, and more flexible payroll tools for their teams.

The PaySpace calculation engine is now Deel’s calculation engine, onto which Deel has localised its Employer Of Record (EOR) and Global Payroll (GP) products across numerous countries, including the UK, South Africa, Canada, and the UAE. Deel will keep localising countries onto this single engine—a unique competitive offering in the payroll market.

The rebranding from PaySpace to Deel Local Payroll allows for deeper integration with Deel, positioning us for continued success and growth

Under the Deel brand, Deel Local Payroll will continue to provide the same excellent payroll software and dedicated team that its customers have come to rely on, with the same management team, employees, support, channels, and logistics—only the name has changed. This seamless transition ensures no disruption to existing customer contracts, systems, or processes.

Deel Local Payroll’s core cloud-native platform is now the PaySpace platform, an intrinsic part of how Deel delivers payroll services at grassroots levels to customers across the globe.

The PaySpace platform includes groundbreaking features:

  • Automatic legislative updates that are pushed directly to customers.
  • Robust integration with dozens of business applications and data sources.
  • Extensive automation features to remove pressure on payroll teams.
  • Powerful scale and flexibility that supports changing business requirements.
  • Secure anywhere, anytime access for multiple users and devices.
  • Pacey, a WhatsApp employee self-service bot for payroll slips and other information.

“When we founded PaySpace, we set out to create world-class payroll management that served all markets. Taking inspiration and lessons from our customers in Africa and leveraging cutting-edge cloud technologies, we built a true 21st-century payroll service that evolves with the needs of modern companies and their workforces. The rebranding from PaySpace to Deel Local Payroll allows for deeper integration with Deel, positioning us for continued success and growth. It’s a positive move, building on the strong foundation we’ve already established,” says Bruce van Wyk, CEO at Deel Local Payroll, powered by PaySpace.

Deel’s acquisition of Payspace, now Deel Local Payroll, and the PaySpace platform is a significant win for customers. It also serves as a testament to the resilience and flexibility of African tech. Deel, Deel Local Payroll, and the PaySpace platform are building bright futures for their customers as they continue to innovate and provide world-class payroll solutions built to simplify and enhance payroll at every level.

Distributed by APO Group on behalf of PaySpace.

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Afreximbank Posts Robust Q1 2026 Results with 25% Growth in Net Income and Improved Profitability

Published

2 days ago

on

May 22, 2026

By

Afreximbank

The results demonstrate continued resilience, disciplined balance sheet management and strong deal execution despite a challenging global operating environment

The growth in net interest income and profitability demonstrates the strength of our operating model and the continued relevance of our mandate

CAIRO, Egypt, May 22, 2026/APO Group/ –African Export-Import Bank (“Afreximbank” or the “Bank”) (www.Afreximbank.com) and its subsidiaries (the “Group”) announced its results for the three months ended 31 March 2026. The results demonstrate continued resilience, disciplined balance sheet management and strong deal execution despite a challenging global operating environment.

 

The Group continued to expand its lending activities in Q1 2026, resulting in total credit exposure growing by 2% to reach a portfolio of US$42 billion, up from US$41 billion as of 31 December 2025. This performance reflects Afreximbank’s leading role as a Development Finance Institution (DFI) in financing trade and trade-enabling infrastructure, and its strategic contribution to economic resilience across Africa and the Caribbean.

Average loans and advances for Q1 2026 stood at US$32 billion, up 8% compared to the same period in the prior year, driving the recorded growth in interest income. The Group’s liquidity position remained strong, with cash and cash equivalents of US$5.6 billion, representing 14% of total assets, consistent with FY2025 and above the Bank’s strategic minimum.

Asset quality also remained strong, with the non-performing loan (NPL) ratio at 2.40%, broadly in line with 2.43% at FY2025 and below industry average.

Shareholders’ funds increased to US$8.6 billion at 31 March 2026, up from US$8.4 billion at FY2025, supported by internally generated capital of US$268.9 million and new equity investments received during the quarter, underscoring the Bank’s continued ability to mobilise capital from its shareholders in support of its growth and development mandate.

The Group delivered strong profitability during the quarter.  Notwithstanding declining benchmark rates, total interest income rose by 14% year-on-year to reach US$813.6 million, while net interest income increased by 24% to US$510.0 million, compared with US$411.2 million in the first quarter of 2025. The Group’s cost-to-income ratio remained contained at 19%, well within the Group’s strategic ceiling of 30%. As a result, Profit for the period increased to US$268.9 million, up from US$215.4 million in Q1 2025.

The Group continued to maintain a strong capital position, with a capital adequacy ratio of 23% as at 31 March 2026, in line with the Bank’s long-term capital management targets.

During the quarter, Afreximbank continued to demonstrate its counter-cyclical role in response to external shocks. In March 2026, the Bank launched a US$10 billion Gulf Crisis Response Programme to help member countries mitigate adverse spillover effects from the Gulf crisis. The facility is designed to support liquidity, stabilise trade and payments, and address supply-side disruptions, particularly in energy, tourism and aviation, fertilisers, food and other critical imports.

The Bank also continued to deploy targeted financing and advisory support to strengthen trade flows, industrial capacity and economic resilience across Africa and CARICOM. Regional integration received further momentum following South Africa’s ratification of the Bank’s Establishment Agreement in February 2026, bringing one of Africa’s largest and most diversified economies into the Bank’s membership and giving the Bank full continental coverage.

Highlights of the results for Afreximbank Group are shown below:

Financial Performance Metrics

Q1’2026

Q1’2025
Gross Income (US$ million)

874.1

784.9
Net Income (US$ million)

268.9

215.4
Return on average equity (ROAE)

13%

12%
Return on average assets (ROAA)

2.62%

2.38%
Cost-to-income ratio

19%

16%

 

Financial Position Metrics

Q1’2026

FY’2025
Total Assets (US$ billion)

41.7

42.3
Total Liabilities (US$ billion)

33.0

33.9
Shareholders’ Funds (US$ billion)

8.6

8.4
Non-performing loans ratio (NPL)

2.40%

2.43%
Cash/Total assets

14%

14%
Capital Adequacy ratio (Basel II)

23%

          23%

 

Mr. Denys Denya, Afreximbank’s Senior Executive Vice President, commented:

“Against a backdrop of continued global uncertainty, heightened geopolitical risks and tight financial conditions, the Group delivered a resilient first-quarter performance, underpinned by disciplined balance sheet management, sound asset quality and strong capital and liquidity buffers. The growth in net interest income and profitability demonstrates the strength of our operating model and the continued relevance of our mandate. Our swift launch of the US$10 billion Gulf Crisis Response Programme further underscores Afreximbank’s counter-cyclical role in supporting member countries during periods of disruption. We remain focused on stabilising trade flows, easing liquidity pressures and advancing the industrial and economic transformation of Africa and the Caribbean.”

Distributed by APO Group on behalf of Afreximbank.

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Via Licensing Alliance Expands Voice Codec Program with New Licensee, New Licensors, Publishes Comprehensive Pool Rate Structure

Published

2 days ago

on

May 22, 2026

By

Via Licensing Alliance

SAN FRANCISCO, CALIFORNIA, UNITED STATES – Media OutReach Newswire – 22 May 2026 – Via Licensing Alliance (Via) today announced continued momentum for its Voice Codec patent pool, including the addition of a new unnamed licensee and new licensors, NovaVoice Limited and Cordial IP, further growing the program’s patent stack and market penetration from its initial five, large global licensors.

The addition of the new licensee, unnamed at this time, reflects growing industry adoption of the collaborative licensing pathway Via’s Voice Codec program creates for accessing IP rights to critical voice technologies. This addition reflects a growing market uptake of advanced voice technologies, including EVS and IVAS, driven by rising demand as 5G and 5G-Advanced technologies are adopted worldwide.

Additionally, Via continues to prioritize transparency and has published its full rate structure for the Voice Codec pool, providing further clarity and predictability for implementers and to the broader market. For implementers, the full rate structure allows for complete visibility as they consider the appropriate royalty structure to choose from to meet their product level costs, evaluate future growth paths for their product lines, or plan their geographical expansion plan needs. This level of disclosure not only reduces uncertainty in licensing decisions but also enables more consistent benchmarking, reinforcing confidence in fair, market-aligned SEP licensing practices. The program’s royalty rates are listed on Via’s website at https://www.via-la.com/licensing-programs/voice-codec/#license-fees.

The addition of the new licensors indicates increased interest from patent holders in licensing their voice technology SEPs through highly efficient, aggregated licensing vehicles such as patent pools. Future growth in both the licensor list and the number of patents consolidated through the pool license will continue to enhance the value of the Voice Codec License for implementers. Via’s Voice Codec program licensors are listed here: https://www.via-la.com/licensing-programs/voice-codec/#licensors.

Via’s Voice Codec pool covers Enhanced Voice Services (EVS), which supports voice communications across more than one billion and growing active devices globally, as well as Immersive Voice and Audio Services (IVAS), which will play a central role in next-generation voice and spatial audio applications.

“We are pleased to welcome these new entrants to our pool, which signal continued growth and momentum our Voice Codec program,” said Kevin Mack, President of Via Licensing Alliance. “This pool license offers strong value relative to other market options and represents the only collaborative licensing solution for EVS and IVAS technologies, making it a smart and efficient pathway for companies seeking to license critical voice capabilities.”

EVS remains a foundational technology for high-quality voice communications in 5G and 5G-Advanced networks, with adoption continuing to expand as 5G, 5G-Advanced and future network iterations reach global scale. As spatial audio and advanced voice technologies expand into 6G and a broader range of non-cellular devices, the importance of IVAS technologies is expected to increase, with Via’s pool offering an early and effective licensing pathway.

For more information about the Voice Codec patent pool, including information for prospective licensees, please visit https://www.via-la.com.

About Via Licensing Alliance:
Via Licensing Alliance is the collaborative licensing leader, dedicated to accelerating global technology adoption, fostering participation, and generating return on innovation with balanced licensing solutions for innovators and manufacturers of all sizes around the globe. Via has operated dozens of licensing programs for a variety of technologies. Via is an independently managed company owned by industry-leading participants with over 25 years of intellectual property licensing leadership. For more information about Via, please visit https://www.via-la.com.

 

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Joint statement welcoming the Republic of Togo’s announcement on Visa facilitation for African nationals

Published

2 days ago

on

May 22, 2026

By

Togo

The AfCFTA Secretariat and Afreximbank commend the Government and people of the Republic of Togo for hosting Biashara Afrika 2026 and for their continued commitment to advancing Africa’s economic integration agenda

LOMÉ, Togo, May 21, 2026/APO Group/ –The AfCFTA Secretariat and African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcome the announcement by the Government of the Republic of Togo, under the leadership of H.E. Faure Essozimna Gnassingbé, President of the Council of the Republic of Togo, regarding measures to facilitate visa-free entry for all nationals of African States holding valid passports, as announced by the Minister of Security on 18 May 2026.

The announcement was made in Lomé on the sidelines of Biashara Afrika 2026, the continent’s premier trade and business platform, which has brought together policymakers, private sector leaders, investors, and stakeholders from across Africa to advance dialogue on intra-African trade, investment, and regional integration.

Throughout the engagements, participants underscored the importance of facilitating the movement of African citizens, entrepreneurs, and investors as an important enabler of intra-African trade and economic cooperation. Against this backdrop, the announcement reflects the growing continental momentum towards strengthening connectivity and deepening African integration.

The AfCFTA Secretariat and Afreximbank, to which Togo is a State Party and a Member State, envision a continent where goods, services, capital, and people move more freely across borders in support of an integrated African market. Measures that facilitate mobility and connectivity continue to contribute towards advancing the broader mandate of both institutions; the attainment of the aspirations of Agenda 2063.

The AfCFTA Secretariat and Afreximbank commend the Government and people of the Republic of Togo for hosting Biashara Afrika 2026 and for their continued commitment to advancing Africa’s economic integration agenda.

Distributed by APO Group on behalf of Afreximbank.

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