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Renew Capital Narrows 500+ African Companies to 15 Embedded Finance Investment Candidates

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SMEs

From 48 countries, selected companies are using existing customer relationships, data and distribution to expand financial access for African SMEs

The next generation of Africa’s small business banks won’t be banks

KIGALI, Rwanda, July 9, 2026/APO Group/ –Renew Capital (http://RenewCapital.com/) has selected 15 companies from more than 500 applicants across 48 African countries to advance through its inaugural Renew Venture Lab: EmFi Series.

 

The size and breadth of the applicant pool point to a larger shift underway across Africa: some of the continent’s most promising embedded finance opportunities may come not from traditional fintechs, but from tech companies already serving small and medium-sized enterprises (SMEs).

Africa’s SMEs are the main creators of jobs, yet they face an estimated $330B annual credit gap. However, Africa is rapidly becoming a global center for technology innovation and currently boasts the world’s largest mobile money market. Meanwhile, SMEs are becoming more tech-enabled as smartphone adoption across sub-Saharan Africa is projected to rise from 54% in 2024 to 81% by 2030 and data costs plummet.

These trends open new opportunities to embed financial products in mobile applications to reach the world’s most capital-constrained private sectors, unlocking growth and job creation. As Africa’s startup ecosystems grow, technology companies powering digital payments, organizing smart distribution, optimizing logistics, improving healthcare, and digitizing agriculture value chains have the potential to reach millions of SMEs that banks are not serving and use their customer data to underwrite financial products.

All 500+ applicants were invited to exclusive expert sessions with founders from some of Africa’s fastest-growing companies and gained advice from some of the world’s leading embedded finance and Web3 companies. Forty-seven companies were selected for a pitch competition and given a startup package valued at more than $250,000. From this group, 15 were selected to advance to deeper technical training and investment consideration. The 15 companies represented Ethiopia, Ghana, Kenya, Morocco, Nigeria, Senegal, South Africa, Togo, Uganda and Zambia.

Matthew Davis, Co-CEO of Renew Capital, said: “The next generation of Africa’s small business banks won’t be banks. They’ll be startups that already understand how SMEs operate, have their data and have earned their trust. These 15 companies are building from that advantage. That’s why we’re paying attention.”

THE TOP 15 COMPANIES

Company Country Founder Website
AgroCenta Ghana Francis Obirikorang (https://apo-opa.co/4vTsP3Q) https://apo-opa.co/4vW91No
Boost Technology Ghana Mike Quinn (https://apo-opa.co/4vWkAEm) https://apo-opa.co/4vWkE74
Dots for Africa Senegal Carlos Oba (https://apo-opa.co/4peki9h) http://DotsFor.com
Fanaka Zambia Hillary Sang (https://apo-opa.co/4h7E1oS) https://apo-opa.co/4h3rkvj
Kutana Ghana Samuel Opoku (https://apo-opa.co/4vW923U) https://apo-opa.co/4fnYapA
MajibuAfrica Uganda Janis Zicans (https://apo-opa.co/4f3YGrg) https://apo-opa.co/4aGskSe
Marakisoft Ethiopia Alemayehu Seifu (https://apo-opa.co/4eSIN8o) https://apo-opa.co/3R1TAUI
Oze Ghana Meghan McCormick (https://apo-opa.co/4paWgf9) https://apo-opa.co/4vXKbN6
Regxta Nigeria Rukayat Bello (https://apo-opa.co/4vSdMaz) https://apo-opa.co/4h28bdg
Rigo Nigeria Olukayode Odeyinde (https://apo-opa.co/4aJjcfF) https://apo-opa.co/4w2UbEP
Shiprazor South Africa Lesego Tladinyane (https://apo-opa.co/3SU3hVK) https://apo-opa.co/4aGsl8K
Solimi Togo Gael Egbidi (https://apo-opa.co/3SSjZor) https://apo-opa.co/4vWkFIa
Tradevu Nigeria Nkiru Amadi-Emina (https://apo-opa.co/4aGsadA) https://apo-opa.co/4eS7dPl
Z Systems Morocco Samer Choumar (https://apo-opa.co/4bd4PQU) https://apo-opa.co/4vUQUYf
Zendawa Kenya Wilfred Njuguna (https://apo-opa.co/4pavJyx) https://apo-opa.co/4eREuKE

Distributed by APO Group on behalf of Renew Capital.

Energy

Triple A Services & Petroleum Ltd Chief Executive Officer (CEO) Dr. Atong Amos Agook to Champion Women-Led Energy Businesses at South Sudan Oil & Power (SSOP) 2026

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Etu Energias

Triple A Services & Petroleum Ltd ‘s CEO, Dr. Atong Amos Agook, is expected to champion indigenous participation, upstream oilfield logistics and women-led energy enterprises at South Sudan Oil & Power 2026

JUBA, South Sudan, November 12, 2026/APO Group/ –Dr. Atong, Founder and CEO of Triple A Services & Petroleum Ltd, has been confirmed as a speaker at South Sudan Oil & Power (SSOP) 2026, bringing her experience in fuel distribution, oilfield logistics and downstream services to discussions on expanding opportunities for women-led energy businesses.

 




  

As part of the programme, she will participate in the panel Women in Energy: Scaling Women-Led Enterprises in Downstream & Services, which will examine how access to finance, procurement contracts and commercial partnerships can support the growth of women-owned companies across South Sudan’s energy. The discussion will also explore opportunities for indigenous service providers to participate in the country’s expanding petroleum industry.

Dr. Atong has grown Triple A Services & Petroleum Ltd into a provider of petroleum products, logistics and technical services. The company operates across fuel distribution, bulk haulage, equipment supply and oilfield support, serving customers across South Sudan’s petroleum sector.

Triple A Services & Petroleum Ltd supplies fuel and logistics services to operators across the country’s producing oilfields. Its activities highlight the role of indigenous contractors in supporting petroleum operations while creating opportunities for local employment, skills development and supplier participation.

The company is in the last stage of also expanding its downstream portfolio, supplying petroleum products to include diesel, petrol, kerosene, aviation fuel and lubricants. These activities support domestic fuel distribution and regional supply chains as South Sudan seeks to strengthen its downstream infrastructure and reduce supply constraints.

Beyond conventional fuel distribution, Triple A Services & Petroleum Ltd is pursuing opportunities in LPG storage, cylinder bottling and retail distribution, supporting wider access to cleaner household cooking fuels. Expanding LPG infrastructure presents opportunities for investment in storage facilities, distribution networks and equipment supply, while supporting efforts to reduce reliance on wood fuel and charcoal.

As South Sudan advances investment in petroleum storage, fuel distribution and supporting infrastructure, indigenous companies have an opportunity to expand their role in project delivery and service provision. Improving access to working capital, trade finance and procurement contracts will be important to enabling local businesses, particularly women-led enterprises, to compete for larger commercial opportunities.

Returning for its seventh edition as South Sudan’s official energy investment platform, SSOP 2026 will provide an opportunity for Dr. Atong to engage government representatives, financiers, oil and gas operators and service providers on strengthening local content participation and developing partnerships across the downstream sector.

Held under the theme Resource Renaissance – Energy-Fueled Growth for a New Generation, the conference will convene industry leaders and investors to advance commercial opportunities across South Sudan’s energy value chain.

To register for South Sudan Oil & Power 2026 in Juba on November 24–25, visit: https://SouthSudanOilPower.com/

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

 




 

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New six-country study finds strong demand for African stories, but distribution gaps continue to limit audience reach and revenue

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African

Drawing on data and analysis spanning 2020–2026, the study identifies opportunities to strengthen film distribution and audience reach across six African markets, where combined pay TV and streaming revenues are projected to reach USD 5.2 billion by 2030

Africa’s paid television and online streaming market is projected to grow to USD 5.2 billion by 2030. But market growth alone will not guarantee that African films reach audiences or generate sustainable returns for filmmakers. New audience research across six African markets – Egypt, Kenya, Nigeria, Rwanda, Senegal and South Africa – points to the importance of both compelling storytelling and production quality: in Rwanda, 56% of respondents cited a lack of interest in stories or themes as a barrier to watching local or African films, while in South Africa, 98% rated acting quality as important when choosing films, and 96% said the same of plot and technical quality.

 

These findings are presented in Made in Africa, Watched Globally?, a new study commissioned by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and the African Export-Import Bank (Afreximbank), through its Creative Africa Nexus (CANEX) programme, and produced by Dalberg. Covering Egypt, Kenya, Nigeria, Rwanda, Senegal and South Africa, the study examines film distribution, audience development, financing and social impact. It draws on 91 stakeholder interviews, a survey of 1,630 viewers across the six countries and five in-depth case studies.

The study explores how African films can better reach audiences and generate revenue, and how stories can shape public attitudes and encourage action on social issues including youth opportunity and aspiration, gender equality, governance and cultural identity. While film production is growing, distribution and monetisation have not kept pace with the expansion of the wider market.

Understanding what audiences want

The research also sheds light on what audiences want from African films – and what makes them choose one film over another. The findings point to a dual challenge for filmmakers: telling stories that resonate with audiences while delivering the quality viewers expect. Preferences also vary within markets, reinforcing the need for more granular audience data to help the industry understand what different groups watch, where they discover films and what they are willing to pay for.

Finding and accessing films remains another challenge. In Kenya, 52% of respondents said local and African films were difficult to find on mainstream platforms. The study recommends better audience-data systems that track viewing preferences, spending and performance across distribution channels. This would help producers, distributors and platforms make more informed decisions about what to commission, how to position films and how to reach different audiences.

YouTube has become an important route to audiences: 87% of Kenyan respondents and 98% of Senegalese respondents who stream films reported using the platform. Yet reach does not necessarily translate into sustainable revenue for producers, as advertising earnings can be low and monetisation opportunities vary.

From 1 February 2027, YouTube will raise the eligibility thresholds for new channels seeking advertising and YouTube Premium revenue sharing through its YouTube Partner Program. New applicants will need 1,000 subscribers and either 8,000 qualified watch hours in the previous 365 days or 20 million qualified Shorts views in the previous 90 days. These changes do not affect channels already in the programme, although separate thresholds apply to revenue sharing from Shorts. For emerging African film producers seeking to build audiences on the platform, the changes underline the importance of developing viable revenue models beyond advertising alone.

Reaching audiences requires investment beyond production

The study highlights how limited distribution infrastructure and affordability constraints can prevent films from reaching their potential audiences. Africa has approximately one cinema screen per 787,000 people, compared with one per 8,700 in the United States. Screens are also concentrated in major cities: around 90% of Egypt’s cinema screens are in Cairo and Alexandria, while more than 75% of Kenya’s fewer than 50 screens are in Nairobi.

Africa’s film industry has demonstrated its ability to produce compelling stories that resonate with audiences around the world

Watching on a phone can provide an alternative, but data costs remain a barrier. The study estimates that 1GB of mobile data costs the equivalent of 3.1% of monthly income across many African markets, above the global affordability benchmark of 2%. In a 2026 audience survey by South Africa’s National Film and Video Foundation, 31% of respondents described data for watching videos as expensive.

The report identifies opportunities to make film access more affordable and convenient, including advertising-funded services, offline downloads, video packages bundled with lower-cost data, and payment options integrated with mobile-money and telecommunications systems. It also recommends using audience insights to test pricing, payment and viewing packages that reflect different audiences’ needs and spending power.

Examples from the region demonstrate the potential of accessible distribution models. In Senegal, Marodi TV has built an audience of 8.67 million YouTube subscribers and generated 4.6 billion views through a free, advertising-supported model. In Kenya, platforms such as Viusasa have offered 24-hour subscriptions for as little as KES 10–20, allowing audiences to pay in small increments rather than commit to monthly subscriptions.

However, access alone is not enough. The study also identifies a weakened ‘missing middle’ in film financing: platforms and aggregators able to pay licensing fees and commission mid-budget local productions for domestic and regional audiences. The closure of Showmax in April 2026 and changes in commissioning by major international streaming services, including Amazon Prime Video, have further reduced some established routes to financing and distribution for African productions.

To address these gaps, the study recommends strengthening African-owned platforms and aggregators with established audiences, including through investment from public funders and development finance institutions. Dedicated national and regional distribution funds could help cover marketing, subtitling, dubbing and coordinated release campaigns. Grants and loans on preferential terms could also support African-owned distribution companies to acquire and release more films, rather than concentrating support on individual productions. Regional licensing arrangements and closer alignment under the African Continental Free Trade Area (AfCFTA) could make it easier to release films across borders.

Speaking on the role of financing in strengthening Africa’s film industry and unlocking commercial opportunities across borders, Mr Osahon Akpata, CEO of CANEX Creations Incorporated, said: “Africa’s film industry has demonstrated its ability to produce compelling stories that resonate with audiences around the world. The next priority is to ensure that this growing demand translates into sustainable businesses and greater economic returns for African creatives. This requires investment across the entire film value chain, alongside stronger African-owned enterprises capable of bringing local productions to regional and international markets. Through our Creative Africa Nexus (CANEX) programme, Afreximbank is working to bridge financing gaps, strengthen the commercial foundations of Africa’s creative industries and create opportunities for African businesses to participate more competitively in global markets. Our ambition is to build an industry where African creativity drives enterprise growth, generates employment and contributes meaningfully to intra-African trade.”

The experience of the Kenyan documentary, ‘Searching for Amani’, illustrates the challenge. The film premiered at the Tribeca Festival in 2024 and was selected for approximately 100 festivals worldwide, including the Raindance Film Festival. Despite this international visibility, the filmmakers struggled to finance community screenings in Kenya, limiting opportunities to bring the film directly to local audiences. The experience highlights the importance of investing not only in making films but also in ensuring they reach the people they were made for.

Stories can also support public dialogue and action

Beyond their commercial potential, films can contribute to public dialogue and action on social issues. The study identifies youth opportunity and aspiration, gender equality, governance and cultural identity among the themes that resonated with surveyed viewers

In Senegal, L’utilité et l’attachement, a documentary about unpaid compensation owed to communities displaced by a rail project, prompted presidential instructions to address their claims following a screening. The documentary premiered in 2025 at the Visions du Réel documentary film festival in Nyon, Switzerland and illustrates how films can create opportunities to bring public concerns to decision-makers.

The study recommends that funders and development partners invest in local screenings and discussions, alongside approaches to track changes in attitudes, behaviour or public decisions. It also emphasises the importance of preserving filmmakers’ control over their stories, noting that editorial influence from funders – or the perception of it – can limit commercial sales and wider audience reach.

Victor Chudal-Linden, Project Manager at GIZ, emphasised the importance of evidence in deciding which films to commission, how to reach audiences and where policy support is needed: “Good decisions start with a clear picture – and a clear picture emerges from many data points. The value of this evidence lies in how industry players, policymakers and partners use it together to understand audiences, address distribution gaps and help African stories reach more people. Together, we screen brighter”.

Film industry leaders, investors, telecommunications and payment providers, and policymakers joined GIZ, Afreximbank and Dalberg at the official unveiling of the study at CANEX WKND 2026 in Lagos, Nigeria. The discussion explored opportunities for collaboration around the study’s findings and recommendations, including distribution, access to finance and industry data.

Distributed by APO Group on behalf of Afreximbank.

 

 




 

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Energy

NOCs and IOCs Redefine Upstream Partnership Terms Ahead Paris Energy Event

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Participation stakes and work commitments have become the central points of negotiation between African state oil companies and their international partners

PARIS, France, November 11, 2026/APO Group/ –The Invest in African Energy (IAE) 2027 Forum will host an NOC-IOC Roundtable on May 11 in Paris, convening African national oil companies and international oil companies to discuss the commercial terms behind upstream partnerships. Most major African upstream developments are structured as joint ventures or production sharing agreements between the two groups, making the relationship a defining factor in how projects advance to development.

 




  

The roundtable comes as African NOCs take on larger roles as investors and operators. In Nigeria, Shell completed the approximately $2.4 billion sale of its onshore subsidiary to Renaissance, a consortium of African energy companies, in March 2025. Shell has since concentrated its Nigerian investment on deepwater and integrated gas, while state-owned NNPC retained its 55% stake in the onshore joint venture now operated by Renaissance.

Fiscal and contract terms between these two kinds of players are also being revisited. Libya’s National Oil Corporation awarded five blocks to companies including Chevron, Eni, QatarEnergy and Repsol in February 2026 in its first licensing round since 2007, signing production sharing agreements with several of the awardees in June. The corporation has said outcomes on drilling commitments and participation stakes will be used to improve terms for future rounds.

On the IAE agenda, the roundtable follows the Transaction Suite, in which African ministries, regulators and NOCs will present acquisition and farm-in opportunities, and precedes an Investor Circle on structuring bankable capex pipelines with sovereign energy masterplans and private capital. Related discussions continue on May 12 and 13 in main-forum sessions on domestic champions in onshore assets and on licensing rounds and frontier acreage.

The placement reflects how closely partnership terms are tied to project finance. Lenders and development finance institutions assess state carry arrangements and cost recovery provisions when evaluating project cash flows and repayment capacity, and alignment between NOCs and their international partners on these points supports a project’s case for financing. The Day 0 roundtable gives both groups a forum to address them ahead of the deal-making sessions over the remaining two days of IAE 2027.

IAE 2027 takes place May 11-13 in Paris. Organized by Energy Capital & Power (ECP), the forum brings together governments, national oil companies, operators and institutional capital to originate, structure and finance energy projects across Africa. Register at www.Invest-Africa-Energy.com.

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

 

 




 

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