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Network International Reports Strong H1 2022 Results with Revenue Up 31% and Profit Increasing 113%

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Network International

Network International’s offering includes acquiring and processing services, and an ever-evolving range of value-added services

DUBAI, United Arab Emirates, August 11, 2022/APO Group/ — 

The company, which operates across Africa and the Middle East, has seen financial outcomes that reflect solid trading and strategic delivery, driving strong cashflow generation; Figures include new financial institution wins and merchant signups; accelerated transaction growth; cross-selling and launching of new value-added services; and new products and capabilities gaining momentum; Customer wins in the Kingdom of Saudi Arabia and direct-to-merchant services underway in Egypt; Consistent growth across Africa with revenue increased by 55.8% y/y to USD 68.5 million; Total Processed Volumes (“TPV”) increased 43% y/y supported by strategic focus on SME and online merchants.

Network International interim results 

Network International reports strong H1 2022 results with total revenue growing 31% y/y demonstrating broad-based growth across all regions and business lines, with Africa growing 21% y/y excluding DPO Group and the Middle East up 22% y/y.

Profit for the period was USD 32.0 million, up 113% y/y. Underlying free cash flow was USD 40.0 million, up 90% y/y; and cash flow from operating activities was USD 90.6 million, supported by strong underlying business performance and higher net profit.

Network International, comprised of a group of companies, is a leading enabler of digital commerce across the Middle East & Africa, providing a full suite of technology enabled payment solutions to merchants and financial institutions of all types and sizes.

Network International’s offering includes acquiring and processing services, and an ever-evolving range of value-added services. In 2021, Network International acquired DPO Group, a leading African digital payments company, in a landmark deal for the African payments landscape.

Network International has offices in Nigeria, South Africa, Kenya, Ghana and Egypt, and client presence across almost all other African countries.

Nandan Mer, Chief Executive Officer, commented:

“We are encouraged by the continued progress of our growth strategy, with another strong trading period delivering 31% y/y revenue growth. This is supported by the acceleration of digital payments growth across our markets, successful strategic execution and share gains in our home market of the UAE. Our market entry into the Kingdom of Saudi Arabia is progressing well, having recently secured a second new customer this year. We also see an opportunity to return excess cash to shareholders through a share buyback programme, whilst retaining our existing flexibility to take advantage of additional growth opportunities which may arise.

Overall, our performance in the first half underpins our outlook and guidance for the year ahead, which is reconfirmed. Whilst we remain conscious of rising global macroeconomic and inflationary pressures, we continue to see steady trading in our major markets.”

New customer wins: continues to develop at record levels

The pace of new Financial Institution (FI) customer wins in Acquirer Processing and Issuer Solutions remains ahead of pre-pandemic levels. Network secured nine new customers in the period, including Money Fellows, Network’s first fintech win in Egypt; Fair Money Digital Bank, one of Nigeria’s premier digital banks; and Alain Finance PJSC, the company’s first non-banking FI customer in the UAE. Network renewed three existing contracts and expanded portfolios with customers through successful cross-selling; including the deployment of N-GeniusTM payment terminals to Access Bank in Botswana, among others. 

Network also saw a record period for new merchant sign ups such as Chanel, Hilton Palm Jumeirah and Landmark Group in the UAE, alongside Talabat and Marriot Amman in Jordan, amongst many others. The focus within the SME space remains successful, with signings doubling year-on-year vs H1 2021, supported by the launch of automated onboarding, low cost ‘Tap on Phone’ payment acceptance and web-store services associated with the ‘DPO Pay’ package. DPO has also rolled out proprietary N-GeniusTM payment terminals to the entire Roads and Transport Authority taxi fleet in Dubai.

Capabilities: a widening revenue pool and increasing customer loyalty through new capabilities

Network provided new services for FIs and credential issuing customers including:

  • Implementing more APIs, accelerating customer onboarding process and simplifying the integration of new capabilities, which is particularly attractive for fintech customers.
  • Providing real time, improved credit-based analysis and approvals to FIs through the Falcon Fraud Prevention solution, in partnership with FICO.
  • Launching Chat banking services to FI customers in Africa with Infobip, enabling real-time customer service chat and push notifications to consumers, whilst supporting Network’s commitment to improving financial inclusion. 
  • Launching the N-GeniusTM Terminal Management System, a web tool enabling FIs to independently manage their merchant customers’ Point-Of-Sale device, in real time.
  • Continuing good progress on initiatives with Mastercard, having onboarded several FIs with 3D Secure 2.0 biometric authentication fraud checking capabilities. Network has also seen ‘Fintech in a box’ gain traction across new markets including Ghana, Nigeria, Egypt, South Africa and Jordan; where it can support the issuance of cards and undertake processing for fintechs.

Whilst we remain conscious of rising global macroeconomic and inflationary pressures, we continue to see steady trading in our major markets

Network has also launched or will be launching value-added services including:

  • Supporting merchants through a dedicated value-added-services team, managing the development of products, partnerships and enhancing go-to-market strategy.   
  • Enabling faster sign up of merchants having launched fully automated digital onboarding.
  • Developing Unified Commerce services by providing a single, centralized view of transactions across online and offline payment channels, as well as enhanced reporting tools and data insights on consumer spending. Network already offers merchants the ability to enable ‘Click and Collect’ payment services and ‘Buy Online, Return in Store’ via its proprietary N-GeniusTM platform. Looking ahead, the company intends to expand these services to include a wider range of cross-channel refunds, such as ‘Buy in-store and refund online’, provide real-time access to consumer transaction data and reporting, real-time fraud screening analytics and additional tools such as merchant cost efficiency reporting.  
  • Launching a fully integrated payments platform tailored to the hospitality industry, in partnership with FreedomPay. The omni-channel platform provides merchants with a unified view of transactions across their entire operation, including front desk reservations, restaurants, bars, theme parks and spas.
  • Launching ‘Foodics Pay’, for SMEs in the food and beverage space, reducing costs for merchants by unifying tasks such as single receipts, daily settlements and chargeback support on a single app. The sector-specific solutions support our strategic focus on SMEs.

DPO: acceleration in trading through the first half, supported by the launch of new capabilities

DPO delivered good growth in the first half of 2022 with Total Processed Volume (TPV) increasing 27% year-on-year (33% in constant FX); whilst revenue increased 23% year-on-year (29% in constant FX). Trading volumes accelerated through the period, with Q2 revenue up 35% year-on-year in constant FX, compared with the Q1 up 22% year-on-year in constant FX.

DPO secured several new key merchants including Dischem Baby City, Europcar and Pernod Ricard. The wins and improving trading performance were supported by marketing channel developments which have accelerated new merchant acquisitions and the introduction of real-time onboarding in 18 countries outside of South Africa. DPO also added new payment methods, rolling out Airtel money in a further three markets and enabling account-to-account payment for all DPO merchants in South Africa and Nigeria.

New markets: customer wins in the Kingdom of Saudi Arabia; direct-to-merchant services in Egypt

Network has signed two additional FIs for Issuer Solutions processing services in the Kingdom of Saudi Arabia. These contracts provide a solid underpin to Network’s revenue target. Full technology deployment on-soil and established connectivities with domestic and international card schemes has been completed.

In Egypt, Network is launching direct-to-merchant payment services focusing on the SME segment during the second half of 2022. The company expects the revenue opportunity to build from 2023 onwards.

Africa: a robust and consistent growth

DPO’s Africa segment operates across 40 countries and contributed 33% of total revenue in the period (H1 2021: 28%). The majority of business activities relate to payment processing on behalf of Financial Institutions across Issuer and Merchant Solutions, and also includes direct-to-merchant services in 21 markets through DPO.

Africa revenue increased by 55.8% y/y to USD 68.5 million (H1 2021: USD 44.0 million), including a USD 15.2 million contribution from DPO. Excluding DPO, revenue growth was 21.1% y/y.

Overall performance in Africa remains robust, with growth consistent between the quarters. Excluding DPO, performance was relatively stronger in Northern and Sub-Saharan Africa than seen in Southern Africa. The region saw continued expansion in all associated KPIs, with particularly strong growth in the number of transactions processed across Issuer Solutions services.   

Contribution for the Africa segment increased 80.0% y/y, to USD 50.2 million (H1 2021: USD 27.9 million), with margins up 980 bps y/y to 73.3% (H1 2021: 63.5%), driven by the inclusion of DPO which has higher contribution margins. Excluding DPO, contribution for Africa increased by 36.4% y/y to USD 38.1 million, with margins of 71.5%, up 800 bps y/y, reflecting the significant revenue growth and inherent operating leverage in the business.

Issuer Solutions revenue: strong growth in Africa

Issuer Solutions represents 50% of total revenue (H1 2021: 55%) and is broadly balanced between the Middle East and Africa regions.

During the first half, revenue increased by 17.5% y/y to USD 101.8 million (H1 2021: USD 86.7 million). Strong growth was seen in both quarters, with trends in KPIs also robust as credentials hosted increased 4.3% y/y and growth in the number of transactions accelerated, up 30.1% y/y. Whilst the performance is reflective of solid trading across all regions, Africa delivered particularly strong growth, supported by an increase in credentials hosted following the onboarding of new customers in the prior year and an improvement in cross-sell. The overall momentum in new business wins, cross-selling and expansion of existing client portfolios remains positive, resulting in revenues from new contracts and renewed card portfolios alongside value added and project-based services.

Merchant Solutions revenue

Merchant Solutions is focused on direct-to-merchant payment services, alongside acquirer processing activities for Financial Institutions. Revenues are predominantly generated in the UAE and Jordan, with the addition of DPO expanding direct-to-merchant presence across Africa.

Revenue for Merchant Solutions, which represents 50% of total revenue (H1 2021: 43%), grew 53.1% y/y to USD 101.8 million (H1 2021: USD 66.5 million).

Excluding DPO, TPV and revenue growth trends were particularly strong in Q1. Domestic TPV was supported by improving consumer confidence and general economic conditions, whilst International TPV was supported by high visitor numbers, Dubai EXPO and sporting events. KPIs remained comfortably ahead of pre-pandemic levels, with domestic TPV up 18% vs. H1 2019 and International TPV up 7% vs. H1 2019.

Revenue growth at DPO improved significantly through the period, where Q1 was impacted by the mix of strategic merchant and gateway volumes. Q2 saw an acceleration, supported by exceptionally strong growth outside of South Africa following a strong recovery from the pandemic, and the launch of new capabilities including automated merchant onboarding. 

Distributed by APO Group on behalf of Network International.

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ST Telemedia Global Data Centres Delivers on Responsible Scaling, Surpassing 2028 Carbon Intensity Target Three Years Early with Renewables at 83.2%

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July 21, 2026

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ST Telemedia

SINGAPORE – Media OutReach Newswire – 21 July 2026 – ST Telemedia Global Data Centres (STT GDC) today published its 2025 Environmental, Social and Governance (ESG) Report, setting out how the Singapore-headquartered global data centre provider is meeting accelerating demand, including from AI-driven workloads, through infrastructure that is more resilient, efficient and sustainable by design. The report highlights 83.2% renewable energy usage, a 70.5% reduction in carbon intensity from its 2021 baseline, 41.2% improvement in water usage effectiveness (WUE) from the 2020 baseline, and continued progress in embedding ESG considerations into how STT GDC designs, builds, finances and operates its data centres at scale.

The report positions responsible growth as a core business discipline for STT GDC, linking sustainability performance to long-term asset resilience, customer trust and operational excellence. Across its global platform, STT GDC is integrating ESG considerations into capital allocation, site selection, design, operations, risk management and workforce development to support reliable digital infrastructure at scale.

Bruno Lopez, President and Group Chief Executive Officer, ST Telemedia Global Data Centres, says, “The next phase of digital growth will be defined by how the industry resolves the tension between rising demand — particularly from AI — and the finite nature of energy, water and land. Responsible scaling is therefore not a sustainability commitment alone; it is a commercial and operational imperative that shapes where we build, how we design, and how we run our data centre platform. Our 2025 progress reflects disciplined execution of a strategy we have been advancing for years, delivering meaningful improvements in energy efficiency, emissions and resource management across our global platform. As we scale further, we will continue to advance with the same discipline — in the infrastructure we build, the governance that underpins it, and the positive impact we create for the communities and ecosystems we are part of.”

Scaling efficient, lower-carbon infrastructure

STT GDC continued to advance its decarbonisation strategy in 2025, delivering measurable reductions in emissions and improvements in resource efficiency while scaling its global data centre platform to meet rising digital demand. The Group’s approach focuses on embedding sustainability into the design and operation of its infrastructure, enabling long-term performance while managing growing energy and resource requirements. Key environmental achievements include:

Furthered renewable energy adoption, with 83.2% of electricity consumption sourced from renewables, supporting STT GDC’s transition towards carbon-neutral operations by 2030.
Reduced carbon intensity by 70.5% from the 2021 baseline, surpassing STT GDC’s 2028 target three years ahead of schedule, alongside a 15.2% year-on-year reduction in absolute Scope 1 and 2 emissions
Improved energy efficiency across operations, achieving an average Power Usage Effectiveness (PUE) of 1.44, a 13.0% improvement from the 2020 baseline, reflecting continued optimisation of data centre design and operations.
Enhanced water stewardship, with Water Usage Effectiveness (WUE) improving by 41.2% from the 2020 baseline, supported by a balanced approach to managing energy and water use in cooling systems.
Continued progress in sustainable infrastructure, with 48% of its data centres achieving green building certification, reflecting the integration of sustainability considerations across the lifecycle of its facilities.
Building a safe and future-ready workforce

As STT GDC continues to scale its global data centre platform, investing in people, safety and workforce capabilities remains central to delivering reliable and sustainable operations. In 2025, the Group maintained a strong focus on safeguarding its workforce, strengthening organisational capability and supporting the development of future-ready talent to meet the growing demands of the digital economy. Key social achievements include:

Maintained strong safety performance, with zero work-related fatalities and a Total Recordable Incident Rate (TRIR) of 0.1 across more than 41 million hours worked, reflecting robust health and safety management across construction and operations.
Strengthened workforce capability, with an average of 18 training hours per employee, supporting the development of technical, operational and leadership skills across the organisation.
Advanced diversity and inclusion, with 21.7% women representation across the Group, reinforcing ongoing efforts to build a more inclusive and balanced workforce.
Expanded talent development initiatives, including the DC Power Up programme and partnerships with 10 Institutes of Higher Learning across our markets, helping to build a pipeline of industry-ready talent for the growing digital infrastructure sector.
Deepened community and workforce engagement, through skills development programmes and industry-academic partnerships that support long-term talent development and contribute to local economic growth.
Strengthening Governance and Resilience at Scale

Strong governance, disciplined risk management and robust operational controls underpin STT GDC’s ability to scale responsibly in an increasingly complex digital environment. In 2025, the Group continued to strengthen its enterprise-wide approach to governance, embedding ESG considerations into decision-making, risk management and day-to-day operations to support long-term resilience and performance. Key achievements include:

Strengthened governance and ethical business practices, with 100% of employees completing anti-corruption training, reinforcing STT GDC’s commitment to integrity and accountability across its global operations.
Enhanced enterprise-wide risk management, incorporating climate, cybersecurity and operational risks into planning and decision-making, ensuring infrastructure resilience as the Group scales.
Advanced cybersecurity and operational resilience, including strengthened governance, technical controls and preparedness through initiatives such as executive-level cyber exercises and risk assessments across key facilities.
Improved supply chain governance, embedding ESG criteria into procurement processes and reinforcing responsible sourcing practices across its global vendor network.
Strengthened organisational alignment and execution, through the inaugural Group ESG Summit, supporting capability building and consistent application of ESG priorities across markets.
These efforts come as data centre operators face growing expectations to deliver capacity while managing energy, water, climate and cybersecurity risks with greater transparency and accountability.

STT GDC’s 2025 ESG Report reflects a continued evolution in how the Group approaches sustainable growth, with a stronger focus on disciplined execution, operational resilience and long-term performance as it scales its global platform. As digital infrastructure becomes increasingly critical to economies and societies, STT GDC will continue to embed sustainability, risk management and governance into how it designs, builds and operates its data centres.

By working closely with customers, partners and communities, the Group aims to deliver infrastructure that is not only efficient and resilient, but also capable of supporting the next phase of digital growth, including AI-driven workloads, in a responsible and sustainable way.

The full 2025 ESG Report is available at https://www.sttelemediagdc.com/about-us/our-esg-progress

About ST Telemedia Global Data Centres
ST Telemedia Global Data Centres (STT GDC) is one of the fastest-growing data centre providers with a global platform serving as a cornerstone of the digital ecosystem that helps the world to connect. Powering a sustainable digital future, STT GDC operates across Singapore, the UK, Germany, Italy, India, Thailand, South Korea, Indonesia, Japan, the Philippines, Malaysia and Vietnam, providing businesses an exceptional foundation that is built for their growth anywhere. For more information, visit https://www.sttelemediagdc.com/

 

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Energy

London Showcase to Bring Venezuela’s Energy Opportunities to Global Investors Ahead of 2026 Summit

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July 21, 2026

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A high-level London industry showcase on July 30 will bring together UK and European investors, financiers and energy leaders to explore emerging opportunities across Venezuela’s oil, gas and power sectors ahead of Venezuela Energy Week 2026

LONDON, United Kingdom, July 17, 2026/APO Group/ –As Venezuela accelerates efforts to revitalize its energy sector and attract international investment, Venezuela Energy Week 2026 will host an exclusive Industry Showcase in London on July 30, bringing together investors, financial institutions, international oil companies, commodity traders and energy executives for market intelligence, networking and partnership development ahead of the flagship conference taking place this October in Caracas.

 

Designed as a strategic preview of the main event, the London showcase will provide UK and European stakeholders with first-hand insight into Venezuela’s evolving investment landscape while creating opportunities for commercial dialogue with industry leaders, potential partners and key decision-makers.

Home to the world’s largest proven oil reserves and significant natural gas resources, Venezuela is entering a new phase of energy development focused on increasing production, expanding gas commercialization and modernizing critical infrastructure. Ongoing reforms and renewed international engagement are creating opportunities for companies able to provide capital, technology and technical expertise.

The timing is particularly significant as several UK and European energy companies continue to strengthen their presence in Venezuela. UK-based majors Shell and BP are advancing key natural gas developments, with Shell preparing for 2027 drilling at the Dragon offshore gas project and BP signing agreements in April to develop the Cocuina-Manakin offshore gas field, marking its return to the Venezuelan market. Spain’s Repsol recently announced plans to increase production from its Venezuelan assets, while Italy’s Eni is relaunching a heavy crude project in the Orinoco Belt. France’s Maurel & Prom, meanwhile, remains a key partner in strategic assets such as the Urdaneta Oeste field. On the trading and commercialization front, Geneva-headquartered energy trader Vitol has renewed its engagement with Venezuelan crude exports, reflecting broader international interest in reconnecting the country’s resources with global markets.

Against this backdrop, the London Industry Showcase will highlight Venezuela’s re-emerging investment potential while creating a platform for strategic networking and direct engagement with government leaders, national energy companies, regulators and private sector partners.

The event is expected to attract representatives from investment funds, export credit agencies, commercial banks, private equity firms, commodity traders, engineering companies, technology providers and UK-based independent energy companies exploring opportunities across Venezuela’s energy value chain.

The showcase will also provide an exclusive preview of Venezuela Energy Week 2026, including ministerial dialogues, executive forums, technical conferences and dedicated business-to-business networking sessions designed to connect international investors with the decision-makers shaping the country’s energy future.

Taking place on October 26–29, 2026 in Caracas, Venezuela Energy Week serves as the country’s premier platform for advancing investment across the oil, gas and power sectors. By bringing the conversation to London – one of the world’s leading financial and energy centers – the Industry Showcase builds momentum ahead of the flagship event while strengthening ties between international capital and one of the world’s most resource-rich energy markets.

To participate in the London Industry Showcase on July 30 or secure your place at Venezuela Energy Week 2026 in Caracas this October, contact info@venezuelaenergyweek.com to learn more about delegate, sponsorship and partnership opportunities.

Supporting Venezuela’s Earthquake Recovery

 

Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

 

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/3RKKqfz).

Distributed by APO Group on behalf of Energy Capital & Power.

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October 2-4, 2026, Announced as New Date for the Inaugural Alamein Africa Forum

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July 21, 2026

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The Forum which was earlier scheduled to hold in June 2026 was postponed following concerns about the evolving public health situation on the continent at the time

CAIRO, Egypt, July 17, 2026/APO Group/ —

The Government of Egypt and the African Union Commission alongside other key stakeholders and partners are pleased to announce new dates for the inaugural Alamein Africa Forum (www.AlameinForum.com).

 

The Forum which was earlier scheduled to hold in June 2026 was postponed following concerns about the evolving public health situation on the continent at the time.

The inaugural Alamein Africa Forum will now be held between October 2-4, 2026, in Alamein, Egypt following consultations between the relevant stakeholders. It will be held in parallel with the African Union mid-year Summit which will take place in Alamein on 4 October 2026.

Please accept our sincere appreciation for your understanding, flexibility and continued support.

The Forum presents a unique opportunity to engage key policy makers, including African Heads of State and Government, as well as senior leaders from finance, industry and institutional investors to advance Africa’s private sector agenda.

Additional information regarding accommodation and logistics as well as the Forum programme will be made available on the Forum website as soon as next week.

Distributed by APO Group on behalf of Alamein Africa Forum.

 

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