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Network International delivers strong H1 2023 results across Middle East and Africa (MEA) markets

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Network International

Underlying free cash flow was USD 65 million, up 63% y.o.y.; and cash flow from operating activities was USD 107 million, supported by strong underlying business performance

DUBAI, United Arab Emirates, August 15, 2023/APO Group/ — 

First half revenue increased 19% (CCY1) y.o.y. to USD 239 million, supported by a 33% (CCY1) rise in the total value of consumer payments processed by merchant customers (TPV)Underlying EBITDA grew 23% to USD 94 million reflecting strong revenue growth and cost controlDeployed on-soil technology in South Africa, unlocking revenue opportunities and enhancing competitive positioningSignificant new customer wins with eight new financial institution signings including Vodacom Financial Services, a leading MNO in AfricaGood reception for recently launched merchant services in Egypt, having signed over 700 merchants.

Network International Holdings Plc (LSE:NETW) has announced its interim financial results for the half year ended 30 June 2023.

The company reports good H1 2023 results with total revenue growing 19% in constant currency year-on-year (y.o.y.) demonstrating broad-based growth across all regions and business lines, with the total value of consumer payments processed with merchants across the group, including African markets, growing 33% in constant currency y.o.y.  In the Middle East, the value of merchant payments processed from domestic consumers and international visitors grew significantly, increasing 28% and 53% year on year respectively.

Profit for the period was USD 34 million, up 9% y.o.y. Underlying free cash flow was USD 65 million, up 63% y.o.y.; and cash flow from operating activities was USD 107 million, supported by strong underlying business performance. Revenue in Africa represented 28% of the Group’s total revenue across the Middle East and Africa during this period.

Nandan Mer, Chief Executive Officer, commented: “Network saw another good trading period, delivering 19% constant currency revenue growth in the first half of the year. Our performance continues to be supported by the acceleration of digital payments growth across key markets but is also evidence of our successful strategic execution, competitive services and product offering. Performance in our home market of the UAE has been particularly good, where we have seen consistent market share gains in direct-to-merchant services through 2022 and into 2023, supported by our continued focus on high growth strategic areas such as SME, online and hospitality. We have made good progress in new market opportunities, having secured another three new financial institutions in the Kingdom of Saudi Arabia and signed over 700 merchants since our direct-to-merchant service was launched in Egypt earlier this year. Whilst overall Africa performance was slower on the back of tough macro-economic conditions, we have recently deployed on-soil technology capabilities in South Africa, positioning Network to better serve customers locally and providing excellent foundations for future growth. We remain encouraged by performance across the Group and I thank our colleagues for their expertise and delivery of such good results.”

New business remained healthy, especially among financial institutions. Network secured eight new customers across acquirer and issuer processing including Vodacom Financial Services, one of Africa’s most renowned Mobile Network Operators (MNOs) to provide merchant acquirer processing services in South Africa. In addition, it renewed its contract with Polaris Bank, one of Nigeria’s leading retail banks, for another five years. Network also continued to attract a significant number of key account and SME merchants and became the payments partner of choice for the Namibian government, enabling digital payments for e-visas and passport applications.

Capabilities grew with a widening range of payment acceptance methods and Value Added Services. Enhancing its mobile money capabilities in Africa through its partnership with Ecocash, a MNO in Zimbabwe, African merchants can now accept more mobile money payments. New services for financial institutions and credential issuing customers included expanding its N-GeniusTM online platform’s regional footprint. Rolling out the white label online payment solutions to a further four financial institutions for online acquirer processing services, the platform is now live across 26 African countries. The launch of SmartView Merchant reports further expands its insights and analytics proposition in Africa, providing merchants with in-depth actionable information on their business, including sales and transaction performance, dynamic currency conversion and loyalty analysis.

New market opportunities have been unlocked for outsourced payment services. Network deployed its on-soil technology in South Africa, unlocking revenue opportunities and enhancing its competitive positioning by aligning with new regulatory legislations to better serve customers in the region. Its Broad-Based Black Economic Empowerment (B-BBEE) score in South Africa has also improved significantly from level 8 in December 2022 to Level 5 in June 2023, having committed to supporting and enhancing its local workforce.

Network successfully launched direct-to-merchant services in Egypt at the start of the year and has already secured over 700 merchants, including Tradeline, who are Apple’s authorised resellers. The entry into direct-to-merchant services in Egypt builds on Network’s already well-established presence as a processing services provider in the country.

Group Financial Summary (USD‘000)H1 2023H1 2022y.o.y. change
Total revenue239,290205,03216.7% (19% ccy1)
   Merchant Services111,35585,67330.0% (33% ccy1)
   Outsourced Payment Services125,990117,9266.8% (9% ccy1)
   Other revenue1,9451,43335.7%
Underlying EBITDA294,00976,21623.3%
Underlying EBITDA margin239.3%37.2%210bps
Profit for the period34,91631,9979.1%
     Underlying free cash flow265,36439,97563.5%
    Cash flow from operating activities107,19990,60418.3%
      Leverage30.6x0.7x (FY22)(0.1)x

[1] Ccy – Constant currency terms.
[2] This is an Alternative Performance Measure (APM), financial definitions and further details on financial disclosures are available in the company’s regulated RNS on the London Stock Exchange.
[3] Leverage ratio computation and reconciliations are available in the company’s regulated RNS on the London Stock Exchange.
[4] TPV: Total Processed Volumes – the aggregate monetary volume of purchases processed by the Group within its Merchant Services business line.
[5] Domestic TPV represents spending from consumers domiciled in the region.
[6] International TPV represents consumer spending by overseas visitors.

Distributed by APO Group on behalf of Network International.

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Namibian President Dr. Netumbo Nandi-Ndaitwah to Open Namibia International Energy Conference 2025

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Netumbo Nandi-Ndaitwah

The Namibia International Energy Conference 2025, under the patronage of the Ministry of Industries, Mines and Energy, will be officially opened by President Dr. Netumbo Nandi-Ndaitwah, marking a historic milestone in Namibia’s journey to becoming a global energy hub

WINDHOEK, Namibia, April 15, 2025/APO Group/ –The Namibia International Energy Conference (NIEC) is proud to announce that the President of the Republic of Namibia, Her Excellency Dr. Netumbo Nandi-Ndaitwah, will officially open the 2025 edition of the conference.

“We are deeply honoured that Her Excellency, the President of the Republic of Namibia, will officially open this year’s conference. Her participation marks a historic milestone for NIEC and reaffirms the government’s commitment to harnessing Namibia’s energy potential for shared prosperity. It also reflects the kind of forward-looking leadership that is essential to positioning Namibia as an emerging leader in the global energy landscape.” said Ndapwilapo Selma Shimutwikeni, Founder & CEO of RichAfrica Consultancy and Convenor of NIEC.

President Nandi-Ndaitwah is a committed advocate for ensuring that Namibia derives maximum value from its natural resources through value addition and sustainable development, with a focus on uplifting the Namibian people and strengthening local capacity.

We are deeply honoured that Her Excellency, the President of the Republic of Namibia, will officially open this year’s conference

As Namibia lays the foundations to become an energy hub, NIEC 2025 will explore the key building blocks needed to realize this vision. These include enabling investment, strengthening institutions, advancing infrastructure and environmental stewardship, promoting local content and reinforcing good governance. Energy is increasingly recognized as a catalyst for inclusive and sustainable development – unlocking industrialization, economic diversification, job creation and long-term prosperity.

Now in its 7th edition, NIEC 2025 will be held under the theme, “Leading the Way: Becoming an Energy Hub with In-Country Value,” and is scheduled to take place from 23-25 April 2025 at the Windhoek Country Club Resort, Windhoek, Namibia.

Since its inception in 2012 under the theme, “A Road to Discovery and Beyond,” the conference has evolved into a premier platform for high-level dialogue, thought leadership and strategic engagement. It has played a crucial role in shaping discourse around Namibia’s emerging oil and gas industry and its broader energy sector.

The event draws a global audience, including OPEC representatives, senior executives from international oil companies, prominent service providers, investors and industry experts. It has also welcomed numerous government leaders from across Africa, including ministers of energy, as well as Namibia’s own public and private sector leaders.

NIEC 2025 will feature a strategic program of panels, dialogues and expert-led sessions designed to unpack the conference theme and spotlight key issues and opportunities that will define the future of the energy industry. The 2025 edition is expected to welcome over 1,000 delegates from across the globe, reinforcing its position as the country’s premier energy platform.

The conference is held under the patronage of the Ministry of Industries, Mines and Energy of the Republic of Namibia and is curated and convened by RichAfrica Consultancy, with the African Energy Chamber as a strategic partner.

Distributed by APO Group on behalf of African Energy Chamber

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Ministry of Health and KAOUN International launch GITEX FUTURE HEALTH AFRICA in Morocco

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GITEX FUTURE HEALTH AFRICA

GITEX FUTURE HEALTH AFRICA/Morocco will drive unprecedented impact across Africa, leveraging breakthroughs in technology and AI to enhance quality and access to healthcare

MARRAKECH, Morocco, April 15, 2025/APO Group/ –During the third annual edition of GITEX AFRICA Morocco (www.GITEXAfrica.com), the continent’s largest tech and startup show, His Excellency Mr. Amine Tehraoui, Morocco’s Minister of Health and Social Protection announced the launch of GITEX FUTURE HEALTH AFRICA/Morocco – in partnership with KAOUN International, organiser of GITEX in Africa and globally.

The much anticipated and pivotal event for the healthcare economy was officially launched with the signing of the partnership agreement, and will be held under the authority of Morocco’s Minister of Health and Social Protection, hosted in partnership with Mohammed VI Foundation for Sciences and Health (FM6SS), and organised by KOAUN International, the organiser of GITEX in Africa and globally.

To be hosted in Casablanca from 21-23 April 2026, GITEX FUTURE HEALTH AFRICA/Morocco, featuring GITEX DIGI_HEALTH, is set to lead the transformation impetus of Morocco and Africa to combat challenges in healthcare information, delivery, access and efficiency, capitalising on the emergence of AI and digital technologies.

The event will prioritise public-private partnerships which are particularly instrumental in this digital mission to advance the industry productively and efficiently

H.E. Mr. Amine Tehraoui, Minister of Health and Social Protection, stated: “GITEX FUTURE HEALTH AFRICA/Morocco embodies the Kingdom’s unwavering commitment to health as a fundamental and universal human right, enshrined in our national vision for health system reform. As digital innovation, data intelligence, and health tech increasingly shape the future of care delivery across Africa, this platform reinforces Morocco’s position as a regional hub for collaboration, talent, and investment. Through international partnerships, strategic innovation, and shared expertise, we have a unique opportunity to co-build inclusive, resilient, and people-centered healthcare systems for the continent and beyond.”

For its part, the Mohammed VI Foundation for Sciences and Health emphasized its strategic vision: “As a major player in the fields of health, training, and scientific research, the Mohammed VI Foundation for Sciences and Health is committed, alongside the Ministry of Health and Social Protection and KAOUN International, to making Morocco a continental hub for healthtech. By contributing its medical and academic expertise through the development of digital health and medical technologies in Morocco and Africa, we aim to help shape the healthcare ecosystem of tomorrow.”

Morocco has emerged as a pioneer in digital health initiatives and advancing expeditiously towards an integrated health information system, fostering the adoption of innovative medical technologies to build a resilient healthcare infrastructure and system. The African healthcare market is estimated to be worth US$259 billion and expected to become the second biggest market after the US by 2030.

Trixie LohMirmand, CEO of KAOUN International, organiser of GITEX globally, commented: “There is urgency from governments and healthcare institutions worldwide – and especially in Africa – to modernise and digitise their healthcare services to increase reach, reduce healthcare costs and deliver better patient outcomes. GITEX FUTURE HEALTH AFRICA/Morocco will highlight the role and growing influence of AI and new digital solutions to improve data-driven decision making and reduce health inequities. The event will prioritise public-private partnerships which are particularly instrumental in this digital mission to advance the industry productively and efficiently.”

The three-day event will open with an agenda shaping leadership summit tackling powerful themes – accelerating cutting-edge solutions set to transform access, outcomes and health equity. Targeting decision-making executives from hospitals and healthcare institutions, health ministers and government leaders, CIOs, CTOs, innovators and disruptors, and public health policymakers – topics during the summit will explore health infrastructure, expanded access to healthcare, investment and research, data security and national records integration, health and data analytics, and AI-powered diagnostics.

An exhibition will bring together top researchers, practitioners, innovators, and experts from the global healthcare industry – representing Africa’s most important gathering of medical & lab equipment, imaging & diagnostics, IT systems & solutions, healthcare infrastructure, healthcare transformation, smart hospitals, healthcare management, and digital health management systems in Africa.

Distributed by APO Group on behalf of GITEX Africa

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Critical Minerals Africa Group (CMAG) Appoints APO Group Founder, Nicolas Pompigne-Mognard, to Advisory Board

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Critical Minerals

CMAG gives Africa and the companies operating within the African critical minerals ecosystem a voice in discussions about supply chains and shaping policy

JOHANNESBURG, South Africa, April 15, 2025/APO Group/ –APO Group (www.APO-opa.com), the award-winning pan-African communications consultancy and leading press release distribution service, is pleased to announce that its Founder and Chairman, Nicolas Pompigne-Mognard (www.Pompigne-Mognard.com), has been appointed to the newly formed Advisory Board of the Critical Minerals Africa Group (CMAG).

With its mission being to position Africa as a leader in critical minerals, CMAG (www.CMAGAfrica.com) is dedicated to advancing responsible sourcing and sustainable development of Africa’s critical mineral resources, while ensuring that local economies benefit from the continent’s mineral wealth. With approximately 40% of the world’s essential minerals reserves estimated to be held in Sub-Saharan Africa alone, the region plays a key role in the global energy transition and advanced technologies.

Pompigne-Mognard’s appointment to the Advisory Board follows the announcement of a strategic partnership between APO Group and CMAG aimed at raising the global prominence of Africa’s critical minerals sector. The partnership leverages APO Group’s public relations and strategic communications expertise and CMAG’s industry leadership. Complementing this, Pompigne-Mognard’s ability to connect clients with key stakeholders from governments, private companies, and organisations of all sizes will be invaluable in showcasing Africa’s role in the global essential resources supply chain and elevating the profile of Africa’s critical minerals sector.

In my advisory role, I look forward to supporting all initiatives as CMAG showcases Africa’s critical minerals potential in a responsible and sustainable manner

Nicolas Pompigne-Mognard brings a wealth of experience and expertise to the CMAG Advisory Board. His vast network across industries, governments, and institutions, his deep understanding of Africa’s media and technology landscapes, and his extensive business experience will equip him to work alongside fellow Advisory Board members to shape positive perceptions of Africa’s critical minerals sector amongst global stakeholders and audiences.

A Franco-Gabonese entrepreneur named among the 100 Most Influential Africans in 2023 and 2024, Nicolas Pompigne-Mognard serves on multiple high-profile advisory boards and international committees. These include the Senior Advisory Board of the Canada-Africa Chamber of Business and the Leadership Council of the Africa Tech Festival, as well as the Advisory Boards of the African Energy Chamber, World Football Summit, Africa Hotel Investment Forum (AHIF), Bloomberg New Economy Gateway Africa, Sports Africa Investment Summit, EurAfrican Forum, and All Africa Music Awards (AFRIMA). He is also a strategic advisor to the Chief Executive Officer of the Royal African Society of the United Kingdom, a strategic advisor to the EU-Africa Chamber of Commerce, and a special advisor to the President of Rugby Africa, the governing body of rugby in Africa.

Nicolas’ wholly-owned company, APO Group, is the premier award-winning Pan-African communications consultancy and press release distribution service. It serves more than 300 clients, including global giants such as Canon, Nestlé, Western Union, UNDP, Network International, the African Energy Chamber, Mercy Ships, Marriott, Africa’s Business Heroes, and Liquid Intelligent Technologies.

“Being appointed to the Critical Minerals Africa Group Advisory Board is an immense honour. CMAG is vital in safeguarding Africa’s critical minerals for future generations. In my advisory role, I look forward to supporting all initiatives as CMAG showcases Africa’s critical minerals potential in a responsible and sustainable manner,” said Nicolas Pompigne-Mognard, Founder and Chairman of APO Group.

Other members of the Advisory Board include Natznet Tesfay, Executive Director, Head of Insights and Analytics, S&P Global, and Richard Morgan, Former Head of Government Relations, Anglo-American PLC.

Distributed by APO Group on behalf of APO Group

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