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Riding the Wave: South Africa’s Financial Digital Revolution

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GITEX Africa

GITEX Africa 2024: Fostering Digital Finance and Economic Empowerment

CAPE TOWN, South Africa, May 13, 2024/APO Group/ — 

GITEX Africa 2024 (www.GITEXAfrica.com), the continent’s largest tech and startup exhibition scheduled from 29-31 May in Marrakech, Morocco, emerges as a pivotal platform for exploring the intersections of digital transformation, financial inclusion, and economic empowerment. As South Africa’s banking of finance sector takes center stage in this global dialogue, the event promises to be a catalyst for innovation, collaboration, and growth.

In South Africa, digital transformation has become imperative across industries, and the financial sector is no exception. From the convenience of online banking to mobile payment solutions, banks are leveraging digital technologies to enhance efficiency, improve customer experience, and expand access to financial services.

With a growing youth population favoring digital banking, financial institutions are investing in user-friendly mobile apps and online platforms to meet evolving customer preferences.

Banks Face Competition from Fintech and Innovative Platforms

These digital banking platforms provide users with convenient access to a wide range of financial services, including account management, payments, and lending, all through intuitive user-friendly mobile and online interfaces.

However, amidst this digital transformation, banks face stiff competition from a diverse array of players, including agile fintech startups and innovative tech-driven platforms. These disruptors offer innovative solutions that challenge traditional norms and cater to evolving customer needs.

South African fintech startups, recognized locally and globally, provide convenient digital banking services, investment platforms, and innovative lending solutions, drawing customers away from traditional banks with their agility and customer-centric approach. In 2021, South Africa boasted the highest number of fintech startups in the African region with 154 companies (https://apo-opa.co/3KjmVTL). As of May 2022, fintech startups in South Africa secured close to $US77 million (https://apo-opa.co/3ys79ms).

The fintech value chain encompasses a wide range of services including banking, infrastructure, crowdfunding, digital currencies, lending, payment, and regulation technology.

By facilitating dialogue, collaboration, and knowledge sharing, GITEX Africa accelerates the pace of digital transformation in the financial services sector, driving inclusive growth and economic empowerment across the African continent. Among the more than 35 esteemed speakers from South Africa include Lillian Barnard, President at Microsoft Africa; Zondwa Mandela from Mandela Legacy; and Chipo Mushwana, Executive of Emerging Innovation and Payments, Nedbank.

Major South African investment funds, unicorns, and start-ups fast-forwarding cross-continental progress at GITEX AFRICA 2024 include SAVANT, Zindi, and go1.

Lillian Barnard, President of Microsoft Africa, said: “Africa has long been recognised for its formidable growth prospects and AI is the long-awaited key to help unlock that potential.”

Africa has long been recognised for its formidable growth prospects and AI is the long-awaited key to help unlock that potential

“The AI-powered innovation we’re seeing today is poised to reinvent every aspect of society from healthcare to financial services, manufacturing and beyond. If Africa is to benefit from the paradigm shift currently sweeping the globe, we must make the promise of AI real for people and organisations across the continent – and do so responsibly.”

Hands-on Support Required for Startups

Bongani Sithole, CEO of Founders Factory Africa and a speaker at GITEX Africa outlines key challenges facing African startups: difficulties in finding product-market fit, hiring the right talent, maintaining company culture while expanding into new markets and securing funding.

Despite these challenges, Sithole highlights opportunities for startups to tap into, including the “development of new products and services to meet the needs of their growing customer base. This can lead to increased innovation and competitiveness.”    

In terms of specific trends within the African startup ecosystem, Sithole says we can expect to see more mergers and acquisitions (M&As) continue this year, primarily driven by larger companies seeking to acquire earlier-stage companies. “M&As are strengthening the startup ecosystem by offering a guarantee of revenue and funding for founders.” Additionally, he notes the potential of AI applications to address societal challenges and drive economic growth.

As Africa’s tech ecosystem evolves, he sees opportunities for cross-regional collaboration through initiatives like cross-border agreements for trade and talent, full implementation of the African Continental Free Trade Agreement (AfCFTA), fast-tracking of regulatory approvals.

Reflecting on lessons from leading African unicorns, he highlights the importance of solving societal problems and embracing failure as part of the startup journey. “Many successful founders are not first-time successes. Founders are encouraged to remain within the ecosystem even after failures to create potential unicorn by leveraging their experience.”

At GITEX Africa, Sithole aims to emphasize the importance of “hands-on support” for early-stage ventures beyond just capital. He also hopes to develop actionable steps to stimulate innovation and funding across Africa, advancing the tech and startup ecosystems.

Financial Inclusion and Economic Empowerment

Recognizing the significance of digital transformation, the South African government has taken proactive steps to promote financial inclusion and economic growth. In 2023, the National Treasury released a policy framework to broaden financial inclusion (https://apo-opa.co/4bff3OC), to achieve 90 percent banked status by 2030. This initiative highlights the government’s commitment to leveraging digital technologies to drive socioeconomic development and create opportunities for all South Africans.

While progress has been significant, challenges persist, highlighting the need for targeted interventions to ensure equal access to financial services. As South Africa continues to ride the wave of digital finance, the possibilities are boundless. By embracing innovation and strengthening collaboration, the country is charting a journey toward a brighter and more equitable future for all.

Distributed by APO Group on behalf of GITEX Africa.

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

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

 

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Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

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As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

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

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Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

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The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

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

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