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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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WARC reveals insights from the winners of the Cannes Creative Effectiveness Lions 2026

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August 12, 2026

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Cultural insights, interactive experiences, strategic creator partnerships and platform-native ideas lead to commercial success
12 August 2026 – Strategically integrating cultural insights, interactive experiences, strategic creator partnerships, and platform-native ideas into campaigns are key drivers of commercial success, according to a new report by WARC, the global authority on marketing effectiveness.

‘Creative Effectiveness Lions – Insights from the 2026 winners’, identifies trends and themes common to the winners of this year’s Cannes Creative Effectiveness Lions awards category, which rewards creativity that has also met business goals and driven sustainable impact over time.

Based on WARC’s exclusive access to the jury deliberations and analysis of the entries, the report unearths insights into what makes a campaign both creative and effective, offers a behind-the-scenes view on the strategies that led to success, and provides takeaways for advertisers, agencies, media owners, people and planet.

Commenting on the report, John Bizzell, Content Lead, WARC, said: “This year’s winning Creative Effectiveness campaigns offer valuable insights for marketers, demonstrating how creative excellence can address genuine business and social issues while delivering meaningful growth.”

On the winners, jury president Bertille Toledano, CEO, BETC, Havas Creative Middle East and President of Havas Creative Network, commented: “The jury sought to award Lions to campaigns that delivered genuine impact on real people – the kind of campaigns you would discuss with your mother over lunch. We kept in mind the Creative Effectiveness Ladder to select the most effective creative work that embodied a cultural vision and a clear sense of what the brand stands for. These are the ones I’ll be telling my mother about.”

The three key themes of the Creative Effectiveness Lions 2026 winners are:

  • Rewrite cultural rules, don’t just reflect them

Cultural insight is a strategic business tool that helps brands actively focus on what connects people, and how to respond and innovate. Brands that move beyond surface-level understanding and instead use cultural analysis strategically can unlock new opportunities for growth, relevance and differentiation.

 

Brands should prioritize activation over observation, position themselves as cultural solutions, and focus on value exchange rather than transactional relationships.

Creative Effectiveness Grand Prix winner, Three Words for insurance brand AXA by Publicis France, transformed its home insurance offering to support victims of domestic violence in France by adding the clause ‘and domestic violence’ to its contracts, enabling emergency relocations for those in need.

Gold winner Pedigree’s Caramelo campaign by AlmapBBDO São Paulo, redefined the concept of ‘pedigree’ and increased the adoption of mixed-breed dogs in Brazil, particularly the culturally significant Caramelo, expanding its total addressable market.

  • Interactive experiences foster deeper brand involvement

Turning brand assets into interactive tools enables brands to deepen engagement, foster participation and create memorable moments for audiences.

Brands should embrace direct consumer participation utilising assets, leverage data to build credibility, and implement meaningful reward mechanisms to drive engagement.

Vaseline, the trusted skin healer’s silver-winning Vaseline Verified campaign by Ogilvy Singapore, engaged directly with creators to address misinformation about its product on social media to ensure safe usage among consumers.

Furniture retailer IKEA’s Hidden Tags silver campaign in Portugal by Uzina, Lisbon, encouraged customers to discover the hidden production dates on their products to build consumer trust and reinforce long-term brand commitment.

  • Strategic creator partnerships and platform-native ideas build brands

Creators are more than paid promoters; they can be authentic advocates who add real value. Platform-specific features earn community buy-in and mean reach continues when spend stops.

Brands should focus on integration rather than interruption, look beyond simple amplification, and meet audiences where they naturally engage.

Uber Easts, the food delivery platform’s silver-winning campaign Football is for Food, by Special US, transformed its NFL sponsorship into a purchase opportunity by embedding itself into the sport, linking football with food.

Bronze-winning campaign ‘U Up?’ by Rethink Canada for IKEA leveraged multiple touchpoints to create unexpected brand interactions into points of purchase for mattresses by turning consumer insomnia into immediate conversation.

WARC’s John Bizzell added: “This year’s jury talked a lot about context, from sourcing to metrics and culture. The jury wanted to see work that included well-sourced, credible data and metrics on what was the business impact. They also wanted to see cultural context – on an international jury, not everyone may understand why an insight is so important for a brand or category. Entrants should bear these factors in mind for next year.”

The full report is available to WARC Strategy subscribers. An upcoming WARC Podcast available from 20 August will discuss the findings.

 

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ExxonMobil’s Artificial Intelligence (AI) Breakthrough Signals New Era of Digital Exploration in Guyana Ahead of Caribbean Energy Week (CEW) 2027

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August 12, 2026

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As artificial intelligence transforms upstream decision-making, Guyana’s energy sector continues to attract investment and innovation ahead of the Caribbean Energy Week 2027 In-Country Launch in Georgetown on 1 September 2026

CAPE TOWN, South Africa, August 12, 2026/APO Group/ –ExxonMobil’s announcement that artificial intelligence has identified four new exploration opportunities within Guyana’s prolific Stabroek Block marks a significant milestone in the country’s digital transformation. By applying AI to historical discoveries, drilling results and subsurface data, the company is demonstrating how advanced analytics, machine learning, high-performance computing and next-generation seismic imaging can accelerate exploration, reduce costs and improve discovery success rates.

 

The breakthrough comes as Guyana targets crude oil production of 1.3 million barrels per day by 2027 and 1.7 million barrels per day by 2030, underscoring the growing role of digital technologies in maximizing resource development alongside continued investment in drilling and infrastructure.

Against this backdrop, the Caribbean Energy Week (CEW) 2027 Guyana In-Country Launch, taking place on 1 September 2026 at the Guyana Marriott Hotel in Georgetown, will bring together operators, technology providers, geoscience companies, investors and regulators to examine the latest developments shaping Guyana’s energy sector and build momentum ahead of CEW 2027 next July. Returning for its second edition, CEW provides a premier platform for advancing investment, showcasing new projects and highlighting the technologies driving the country’s next phase of upstream growth.

Momentum behind AI adoption continues to build. In May 2026, ExxonMobil Vice President of Exploration John Ardill confirmed the company was expanding its use of deep learning, machine learning and high-performance computing to analyze seismic data and identify hydrocarbon-bearing prospects that were previously more difficult to evaluate.

The company is simultaneously advancing an ambitious offshore drilling program. This month, ExxonMobil commenced new drilling activities in Guyana’s Exclusive Economic Zone, including the Whiptail development well and Rockhead-1 exploration well. Earlier this year, the company also sought environmental authorization for the Haimara gas-condensate development and has proposed a 35-well drilling campaign between 2028 and 2033, reinforcing confidence in Guyana’s long-term exploration potential.

These developments are creating growing opportunities for AI developers, digital technology providers, seismic specialists, engineering firms and oilfield service companies that can support increasingly data-driven exploration and field development activities.

As the first official milestone on the road to Caribbean Energy Week 2027, the Georgetown launch will provide a platform for industry leaders to examine the technologies, partnerships and investment strategies driving Guyana’s next phase of growth while strengthening collaboration across the Caribbean energy sector.

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

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SOKOYO Advances Global Solar Street Lighting Capabilities

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August 12, 2026

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BEIJING, CHINA – Media OutReach Newswire – 12 August 2026 – SOKOYO, a top manufacturer of solar street lights, has installed 252 sets of lighting units in QatarEnergy’s solar power project in Ras Laffan and Masaieed in Qatar.

Installation of SOKOYO’s split solar street lights for the project being built by Samsung C&T Corp. was completed in July. The arrangement of solar panels was customized at the customer’s request for ease of maintenance.

“SOKOYO provided us with a specially customized solution for our power station,” said Ms. Kathy, senior procurement manager for Samsung. “The entire solar street lighting system consistently met our expectations for brightness, battery life and overall reliability.”

SOKOYO, founded in 2008, has manufactured more than 1 million lighting units installed in a wide range of settings across SoutheastAsia, Africa, the Middle East and Central Asia.

The company manufactures its own LED modules, solar panels, batteries, light housings and light poles. They have third-party certification for European Union and other safety and reliability standards, which qualifies them for export to global markets.

SOKOYO is regularly appointed to bodies that establish national and industry standards.

SOKOYO’s product line includes all-in-one solar street lights, all-in-two solar street lights and split-type solar street lights. They can be controlled remotely with IoT technology to improve safety and efficiency. Using solar power makes them immune to disruptions in supplies of oil and gas.

As the industry evolves to focus on “system-level R&D,” SOKOYO is reducing customer costs by enhancing reliability and resistance to heat and cold. To improve efficiency, it is developing smart lighting and IoT applications. It is promoting modular production, intelligent manufacturing and standardized process management.

The research team has seven engineers, some with more than two decades of industry experience. They develop technology for a wide range of environments and customer needs.

SOKOYO has experience in markets including Thailand, thePhilippines, Pakistan, Saudi Arabia and Nigeria. It has developed technology to cope with heat, humidity, sandstorms and low light during extended rains, a challenge in central Africa and other areas.

In Uganda, SOKOYO supplied 1,000 light sets to help improve safety on a busy expressway between the capital, Kampala, and the eastern industrial center of Jinja. They provide the first nighttime lighting on a 22-kilometer section of road crowded with trucks, buses and motorcycles.

In Yemen and the United Arab Emirates, SOKOYO lights use LED modules developed to cope with heat, sun and sand.

The company supplied more than 2,000 light units to Saudi Arabia’s planned high-tech city of NEOM as part of the Saudi 2030 Vision plan.

Customers can use SOKOYO’s test facilities to try out different light configurations. Lights can be tested on roads of up to four lanes in an1,100-square-meter darkroom. Designers and urban planners can ensure light is distributed effectively, eliminating dark areas on the road and improving safety.

Batteries are tested to confirm they resist crushing, heat and cold, vibration, overcharging or being dropped. LED modules are drenched in salt spray for up to 72 hours to make sure they resist corrosion.

SOKOYO has been chosen for bodies that formulated eight national and industry standards including the “General Technical Specification for Solar Photovoltaic Lighting Devices” in 2025 with definitions and standards for split-type and integrated solar devices.

SOKOYO products have third-party certification that they meet standards of the International Electrotechnical Commission (IEC) and other bodies.Its batteries meet the requirements of the CB scheme under the IEC, recognized in more than 50 countries. Tests confirm they withstand overcharging, high temperature, vibration, impact and short circuit.

The company’s solar panels received IEC certification that they meet standards for electric shock protection, temperature changes, damp, heat, humidity, hail impact and other factors.

SOKOYO participates in efforts to improve the industry’s reputation by promoting “zero false labeling” and reliable products that refuse to cut corners.

SOKOYO pays attention to the environment. Its products are designed to minimize light pollution and limit disruption for wildlife, stargazers and the public.
The issuer is solely responsible for the content of this announcement.

 

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