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New Research Shows Mobile Finance Can Increase National Gross Domestic Product (GDP)

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Mobile Finance

This GDP per capita growth implies that countries with successful mobile money adoption could reduce poverty by around 2.6%

KIGALI, Rwanda, October 27, 2022/APO Group/ — 

New research from Vodafone Group, Vodacom Group (https://www.Vodacom.com/), Safaricom, and the United Nations Development Programme (UNDP) indicates that the successful deployment and adoption of mobile financial services is associated with a positive impact on GDP growth in developing markets as it helps businesses to reduce cost, access credit to invest, and to connect with consumers that were previously excluded from financial services.

The econometric modelling research[1] – which examined 49 countries in Africa, Asia, and Latin America – found that countries with successful mobile money services had an annual GDP per capita growth rate up to 1 percentage point higher than countries where mobile money platforms had not been successful or not introduced.

Based on previous World Bank research on the relationship between economic growth and reductions in the number of people living in poverty[2], this GDP per capita growth implies that countries with successful mobile money adoption could reduce poverty by around 2.6%.

The analysis was conducted as part of the companies’ Africa.Connected (https://bit.ly/3SGqW6l) campaign, an initiative to drive sustainable development through collaboration and help close the divides that prevent progress in Africa’s key economic sectors. The findings are part of a new research paper, Digital Finance Platforms to Empower All, the fourth research paper developed and released under the Africa.Connected umbrella.

Sitoyo Lopokoiyit, CEO of M-Pesa Africa and Chief Financial Services Officer at Safaricom, said:

Mobile financial services platforms like M-Pesa are vital drivers of financial inclusion in society which can improve individual life chances

“Mobile financial services platforms like M-Pesa are vital drivers of financial inclusion in society which can improve individual life chances and enable enterprises to launch and expand, bringing wealth and jobs into developing economies. There remains though barriers both to accessing platforms – including digital literacy and smartphone accessibility – and to developing them – with an un-level regulatory playing field for non-traditional financial services providers in many countries.” 

As part of the Africa.Connected research, consumer surveys were conducted focusing on users of M-Pesa in Kenya and Tanzania, and results were extrapolated to Ghana and Mozambique. A business survey was also conducted in Kenya. The resulting research underpinned the continuing importance of the world’s first mobile money service 15 years after it launched in 2007. The researchers estimated that:

  • 17.6 million current users in the four countries did not have access to any formal financial services before using M-Pesa;
  • 98% of businesses surveyed said that M-Pesa helps them to do business, with the main benefits of M-Pesa being its facilitation of faster and safer payments and enabling the sale of goods and services online; and 
  • 95% of businesses surveyed indicated that they use M-Pesa for at least half of their business transactions.

Ulrika Modeer, UN Assistant Secretary-General and Director of the Bureau of External Relations and Advocacy at UNDP, said:

“Financial inclusion is both a pre-condition and a key enabler for meeting many of the UN’s Sustainable Development Goals, including reducing poverty, boosting economic growth, promoting market access and championing investment in key sectors like education, agriculture, and healthcare. But more importantly, it is about putting people at the center, empowering them with more agency over their money and increasing their resilience. Eliminating financial exclusion in Africa, and across the globe, must be a priority if we are to deliver on inclusive, sustainable prosperity for all on a healthy planet.”

Click here to read the full Africa.connected financial inclusion paper:https://bit.ly/3U4QAmp


[1]The econometric model made use of data covering the period 2003 – 2019. More recent data was not included in the modelling due to the effects of the pandemic.

[2] Adams, 2003, Economic Growth, Inequality, and Poverty: Findings from a New Data Set. World Bank. Available online:  https://bit.ly/3TQWoQi

Distributed by APO Group on behalf of Vodacom Group.

Business

Nominations Open for Africa Women Innovation and Entrepreneurship Forum (AWIEF) Awards 2026 Honouring and Celebrating Africa’s Women Entrepreneurs

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AWIEF

The AWIEF Awards was established since 2017 to recognise and celebrate the remarkable achievements of female founders and business leaders across Africa

CAPE TOWN, South Africa, July 1, 2026/APO Group/ –The Africa Women Innovation and Entrepreneurship Forum (AWIEF) (www.AWIEForum.org) calls for nominations for the 2026 edition of the prestigious AWIEF Awards.

The AWIEF Awards was established since 2017 to recognise and celebrate the remarkable achievements of female founders and business leaders across Africa.

The Awards have showcased and honoured exceptional women leaders who are building successful businesses, driving innovation, creating jobs, and contributing to Africa’s economic growth, while inspiring future generations and highlighting the vital role of women in Africa’s development.

To remain relevant and responsive to Africa’s evolving entrepreneurial ecosystem, this year the Awards categories have been refined to better reflect emerging trends, innovation, and impact.

In addition to updating the existing categories, AWIEF has introduced the Male Ally Award to recognise male leaders whose actions and influence have contributed meaningfully to advancing women’s economic empowerment and leadership.

The winners of the AWIEF Awards 2026 will be announced at a high-profile awards ceremony and gala dinner on 11 November 2026, as the grand finale of the AWIEF 2026 Conference, taking place on 10 and 11 November 2026 at the Cape Town International Convention Centre (CTICC), Cape Town, South Africa.

Awards Categories

Woman to Watch Award

The Woman to Watch Award recognises a female leader under 35, or founder/leader of a venture under three years old, based in or primarily operating in Africa, who is already demonstrating strong early traction through revenue, pilots, partnerships, users, or beneficiaries.

Tech Pioneer Award

This award spotlights a female founder or senior leader with at least five years’ experience in technology or innovation, who is using tech, digital tools, data, or deep-tech solutions at the core of the business or initiative to tackle a clearly defined African challenge such as access, inclusion, efficiency, or scalability.

 

Agri Award

Honouring outstanding women in agriculture, this Award celebrates female founders and leaders with 5+ years in agriculture, agri-processing, agri-tech, food systems, or value chains, who are transforming Africa’s food systems and value chains while advancing productivity, sustainability, food security, or farmer livelihoods.

Creative Visionary Award

The Creative Visionary Award recognises a female entrepreneur, creator, or leader with at least five years’ experience in the creative industries (such as fashion, design, media, film, music, art, architecture, digital content, or cultural industries) who is significantly shaping African narratives, culture, or creative economies.

 

Impact for Good Award

The Impact for Good Award honours a female founder or leader whose initiative has been active for at least three years in sustainability, climate, energy, social innovation, community development, health, or education, and can demonstrate measurable social and/or environmental impact well beyond intent or pilot stage.

 

Male Ally Award

The Male Ally Award honours a male leader, founder, executive, policymaker, or senior decision-maker with 10+ years of leadership who goes beyond words to actively break barriers for women in Africa, driving sustained, systemic change for women’s economic empowerment.

 

Lifetime Achievement Award

The Lifetime Achievement Award honours a visionary, female leader with at least 25 years of leadership, entrepreneurship, or public service whose lifelong contribution has helped shape Africa’s economic, social, or institutional development and paved the way for future generations of women trailblazers.

 

No nominations are required for this category. Each year AWIEF identifies and selects from across African regions the recipient for this special award.

 

How to Nominate

You can nominate yourself or someone else. To submit nominations, please go to: https://apo-opa.co/4p2fAvk

Nominations close on 3 August 2026, at 11:59 PM CAT.

Important Dates

  • Nominations Open: 30 June 2026
  • Nominations Close: 3 August 2026
  • Finalists Announced: September 2026
  • AWIEF 2026 Conference and Awards Gala Dinner: 10 – 11 November 2026

Distributed by APO Group on behalf of Africa Women Innovation and Entrepreneurship Forum (AWIEF).

 

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Events

China’s digital hub Hangzhou hosts conference on AI, OPC

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OPC

HANGZHOU, CHINA – Media OutReach Newswire – 30 June 2026 – The inaugural AI+OPC Innovation and Development Conference was held from June 29 to 30 in Shangcheng District, Hangzhou, capital city of east China’s Zhejiang Province. Centered on one-person company (OPC), a new form of smart economy in the AI era, the conference program comprised one opening ceremony and two parallel breakout sessions.

It gathered around 400 delegates from government departments, industry associations, financial institutions, AI enterprises and OPC startup operators across the country. Participants exchanged insights on AI innovation pathways and cross-industry integration strategies, injecting strong impetus into Hangzhou’s ambition to develop a national benchmark hub for AI+OPC entrepreneurship.

A series of key launches and milestone ceremonies took place during the opening segment. Official releases included the 2026 national OPC development observation report, Hangzhou’s 2026–2028 action plan and supporting policies to build a national AI+OPC entrepreneurship hub, and a catalog of actionable AI+OPC application scenarios. Attendees also received an in-depth interpretation of the specifications for AI-enabled OPC community services and evaluation.

The ceremony featured multiple landmark initiatives: plaque awarding for Hangzhou’s priority AI+OPC incubation communities and dedicated observation sites, the official launch of the AI+OPC Community Alliance initiative, and a kickoff marking the official construction of the national AI+OPC entrepreneurship hub.

The open forum session featured keynote speeches from distinguished industry and academic leaders. Speakers included Pan Yunhe, former executive vice president of the Chinese Academy of Engineering and professor at Zhejiang University; Liang Gui, former executive vice governor of Jiangxi Province and ex-director of the Torch High Technology Industry Development Center under the Ministry of Industry and Information Technology; and Zou Ling, head of Hong Hub, Shangcheng District’s single-member unicorn startup acceleration community, who shared cutting-edge insights from varied perspectives.

A panel dialogue followed, bringing together representatives from Moshu OPC Community (Beijing E-Town), the School of Future Science and Engineering at Soochow University, Qingju Hub · Future Digital Intelligence Port (Shangcheng District), and Puhua Capital for in-depth industry exchanges.

Complementary concurrent events held throughout the conference included an OPC capital-industry matchmaking salon, a symposium on industry-education integration for AI-powered OPC sectors, and a national exchange forum for AI+OPC community practitioners.

OPC has emerged as a vibrant new engine driving economic vitality and underpinning high-quality development. Against the backdrop of a new development era, the inaugural Hangzhou AI+OPC Innovation and Development Conference unites OPC innovators nationwide.

Drawing on the creative energy of millions of independent super-individual operators, the event delivers sustained digital momentum to fuel Hangzhou’s super-individual economy, while rolling out replicable local practices and actionable Hangzhou solutions to advance high-quality growth of smart economies nationwide.

 

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Business

Hainan FTP marks 6-month milestone of special customs operations, signs deals during Hong Kong visit

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Hong Kong

HONG KONG SAR – Media OutReach Newswire – 29 June 2026 – As the Hainan Free Trade Port (FTP) marked the six-month milestone since the launch of its full special customs operations, a Hainan provincial delegation wrapped up a three-day visit to Hong Kong. During the visit, the delegation signed deepened cooperation agreements with several major local chambers of commerce and promoted the latest policies introduced since the island-wide special customs operations took effect.

According to data released by Hainan Province during the visit, Hainan’s foreign trade has surged since the launch of special customs operations. As of June 17, the province’s total goods imports and exports reached RMB 173.98 billion (approximately US$24 billion), up 54.6% year on year. Imports of zero-tariff goods hit RMB 2.645 billion, a 120% jump that generated tariff savings of RMB 440 million. A total of 172,100 new market entities were registered—a 61% increase—including 1,240 foreign-invested enterprises. Zero-tariff items now account for 74% of all tariff lines, benefiting more than 12,000 market entities.

During the Hong Kong visit, China Council for the Promotion of International Trade Hainan Provincial Committee (CCPIT Hainan) signed separate deepened cooperation MOUs with the Chinese General Chamber of Commerce, Hong Kong and the Hong Kong General Chamber of Commerce. Under the MOUs, the parties will establish a regular liaison mechanism for the periodic exchange of economic and trade information, and will promote collaboration in areas including professional services, green finance, the digital economy, supply chain management, and cultural tourism. Mutual enterprise service desks will be set up to provide consulting services regarding policies and projects. The parties will leverage their complementary strengths to help Chinese mainland enterprises access overseas markets via Hong Kong, while facilitating Hong Kong companies’ entry into the Chinese mainland through Hainan.

The delegation also held talks with the British Chamber of Commerce in Hong Kong and the American Chamber of Commerce in Hong Kong, exploring ways for British and American businesses to leverage Hainan’s value-added processing tariff exemptions and multifunctional free trade accounts to position themselves in regional supply chains and cross-border investment and financing. HSBC, De Beers, and other British firms are already active in Hainan, and the UK served as the Guest of Honor country at the 2025 China International Consumer Products Expo.

According to industry analysts, amid the shifting international trade landscape, Hainan is leveraging Hong Kong’s “super-connector” role to accelerate its integration with global capital and business networks, while simultaneously offering the Hong Kong business community a policy testing ground for entering the Chinese mainland market.

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