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Singapore-based TransferTo and Pan-African Ecobank Group Forge Strategic Partnership to Expand Financial Access and Cross-Border Payments Across Africa

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Thunes, Ezra, DT One and Ecobank collaboration to expand access to credit, digital products and cross-border payment solutions

SINGAPORE, Singapore, November 12, 2024/APO Group/ — 

TransferTo (www.TransferTo.com), a  Singapore-based global technology group, and Ecobank Group (https://Ecobank.com), the leading pan-African financial institution, announce a landmark Memorandum of Understanding (MOU), laying the groundwork to transform financial access and cross-border payment solutions across Africa.

This strategic partnership brings together TransferTo’s companies —  Thunes (www.Thunes.com), Ezra (https://Ezra.world), DT One (www.DTOne.com) and Tookitaki (www.Tookitaki.com) – with Ecobank (https://Ecobank.com) to expand access to credit, digital products and cross-border payment solutions. The collaboration will create a safe, inclusive financial ecosystem that bridges markets, enabling swift reliable payments across borders and offers financial empowerment tools to millions of Africans and businesses.

By uniting their expertise, TransferTo and Ecobank will drive financial inclusion, empower underserved communities, and establish secure, seamless digital pathways that connect Africa’s economies with the rest of the world.

Peter De Caluwe, CEO, TransferTo: “Our partnership with Ecobank empowers us to unite the strengths of our companies — such as Thunes and DT One — and reshape financial access across Africa. By integrating our expertise with Ecobank’s deep local knowledge, we are crafting secure, straightforward pathways to credit, payments and financial growth for millions of people. This alliance is more than a partnership, it’s a mission to fuel positive change across the continent.”

Together, we are expanding the reach of reliable, secure services to individuals and businesses with the financial tools that they need to thrive

Jeremy Awori, CEO, Ecobank Group: “Joining forces with TransferTo and its companies Thunes and DT One, enables us to bring world-class financial solutions to Africa. Together, we are expanding the reach of reliable, secure services to individuals and businesses with the financial tools that they need to thrive. This partnership marks a significant step towards bridging gaps and unlocking potential across African communities.”

Partnership Details:

  • Thunes (www.Thunes.com) and Ecobank: Facilitating fast, reliable cross-border payments across Africa via Thunes’ Direct Global Network, including QR code payments that connect global financial apps to China’s cashless economy, simplifying cross-border transactions.
  • DT One (www.DTOne.comand Ecobank: Enhancing customer engagement with integrated digital rewards; offering airtime, data bundles, gift cards and vouchers through Ecobank’s Mobile App and Xpress Accounts.
  • Ezra (https://Ezra.world) and Ecobank: Expanding access to nano loans and Buy Now, Pay Later (BNPL) options; empowering underbanked individuals to build credit histories and progress to larger loan opportunities.
  • Tookitaki (www.Tookitaki.com) and Ecobank: Strengthening compliance with anti-money laundering (AML) technology and providing specialised training for Ecobank’s team to enhance financial security.

Distributed by APO Group on behalf of Ecobank Transnational Incorporated.

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Republic of Congo Eyes Accelerated Oil, Gas, Sustainable Projects

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The country’s Hydrocarbon Minister Bruno Jean-Richard Itoua shared insight into the government’s ongoing efforts to attract new investments in the upstream, downstream and forestry sectors

BRAZZAVILLE, Congo (Republic of the), November 13, 2024/APO Group/ — 

The Republic of Congo (RoC) is preparing to launch a Gas Master Plan and new Gas Code, all while enticing investment in crude exploration and production. Speaking during a press conference at African Energy Week 2024, Bruno Jean-Richard Itoua, the country’s Minister of Hydrocarbons, outlined how these policies will drive oil and gas projects forward, all while spearheading sustainable growth.

Towards Increased Oil Production

Leveraging policy and reform to attract new investments in exploration and production, the RoC expects to launch a new licensing round by Q1, 2025. According to Minister Itoua, “the round will put the RoC on the market.” He noted that significant work has already been done by various companies in the region, setting the stage for a successful bid round.

“We have an attractive legal framework…” Itoua added, underscoring the country’s intent to enhance investor confidence. Currently, the RoC produces an average of 274,000 barrels per day (bpd). The Minister revealed ambitious plans to increase this output to 500,000 bpd within the next three to five years, driven by tangible projects and enhanced industry collaboration. “Our target is clear: we want to significantly ramp up production based on concrete, actionable projects,” he said.

New and existing oil and gas producers in the RoC have committed to supporting this goal and are ramping up investments to boost output. On November 7, energy players Unite Oil & Gas and ARIES Energy formed Bomoko Energy to acquire and develop local hydrocarbon assets. In October 2024, Perenco achieved 80,000 bpd following a $300 million investment, aiming for 100,000 bpd by 2025 with new field developments. Meanwhile, Cogo, the Congolese subsidiary of China Oil Natural Gas Overseas, announced in October 2024 a $150 million investment to enhance production in the Conkouati-Koui and Nanga III fields.

Focus on Downstream Development

In the downstream sector, the RoC aims to boost domestic access. As new developments come online, Minister Itoua emphasized that “first, we give priority to our citizens, then to our companies. Too many people still lack access to reliable energy.” He acknowledged the complications posed by outdated refining infrastructure and emphasized the government’s strategy to upgrade existing facilities.

Seventy percent of the equipment is already produced and we expect the refinery to be operational by next year

Currently, the RoC has one oil refinery in the coastal city of Pointe-Noire, which has a capacity of 1 million tons per year. However, it only processes 600,000 tons annually while the country’s needs are estimated at 1.2 million tons.

To address supply shortfall, the RoC is in the process of commissioning a new refinery. The $600 Atlantic Petrochemical Refinery, to be developed by China’s Beijing Fortune Dingheng Investment, will produce a range of refined petroleum products including automotive and aviation gasoline, LPG, diesel, lubricants, bitumen and kerosene.

“Seventy percent of the equipment is already produced and we expect the refinery to be operational by next year,” Minister Itoua shared. This private project will grant investors the flexibility to decide on the type of crude processed, including the option to import crude oil. “The new refinery will help meet domestic needs first, and only then will we consider export opportunities,” Itoua remarked.

Promoting Environmental Sustainability

Minister Itoua also highlighted the country’s commitment to environmental sustainability, particularly through carbon capture initiatives. The RoC’s focus on sustainable industrial growth is rooted in its history with the timber industry, and the country aims to balance this legacy with modern environmental practices. “We started our development journey through forestry, and now we are working to preserve these forests for future generations,” the Minister said.

Covering 23 million hectares – two-thirds of the country’s territory – the country’s forest acts as a vital carbon sink, absorbing about 130 million tons of carbon annually. Minister Itoua explained that, “We have the largest potential for carbon capture in the Congo Forest. It’s our responsibility to protect this resource while continuing to develop our industries.”

In 2024, the RoC received its first $8 million payment in carbon offsets as part of a World Bank agreement, highlighting projects like TotalEnergies’ Bacasi initiative, which aims to conserve and reforest 93,000 hectares.

With a clear roadmap for increasing production, upgrading infrastructure and committing to environmental protection, the RoC will host the first edition of the Congo Energy & Investment Forum from March 25-26, 2025 in Brazzaville. Organized by Energy Capital and Power – in partnership with the Ministry of Hydrocarbons and with the support of the African Energy Chamber – the event will gather international investors and Congolese stakeholders, setting the tone for the country’s future in the global energy market.

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

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Islamic Corporation for the Development of the Private Sector (ICD) commits EUR 40 million to Kokshetau Hospital Project in Kazakhstan

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The new hospital will seek to receive a “Silver” rating under the Leadership in Energy and Environmental Design (LEED) green-building certification programme

ASTANA, Kazakhstan, November 13, 2024/APO Group/ —

  • ICD is investing EUR 40 million for the construction and operation of a 630-bed multidisciplinary hospital in the city of Kokshetau, Kazakhstan.
  • The total financing package is Euro 365 mln which is co-financed by the EBRD, AIIB, DEG, Proparco and DBK.
  • The Project will be developed by a Rönesans Holding subsidiary.

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org) has signed a EUR 40 million a Public Private Partnership (PPP) agreement to co-finance Kokshetau Hospital Project in Kazakhstan. This Project will be ICD’s first financing under PPP scheme in Kazakstan. The project will be also first PPP in the healthcare sector of Kazakhstan and Central Asia with a greenfield development of a 110,000 m2 facility, which will provide services to more than 730,000 people living in the city of Kokshetau and the wider region of Akmola. Under the PPP agreement, the private partner will maintain the facility and operate a 24-hour hospital information management system (HIMS), setting a digital benchmark for Kazakhstan’s healthcare sector. Medical services will be provided by Turar Healthcare, a state-owned, non-profit operator.

The project will be co-financed for the total amount of up to €365 million provided by the European Bank for Reconstruction and Development (EBRD), the Asian Infrastructure Investment Bank (AIIB) (www.AIIB.org), the German Investment Corporation (DEG) (https://apo-opa.co/3O6hLfG), the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org/), Proparco (www.Proparco.fr/en), a subsidiary of Agence Française de Développement and the Development Bank of Kazakhstan (DBK) (www.KDB.kz/en).

The new hospital will seek to receive a “Silver” rating under the Leadership in Energy and Environmental Design (LEED) green-building certification programme, which recognizes best-in-class building strategies and practices. It will also aim to obtain an EDGE (https://apo-opa.co/3O73Tlh) certification for water and energy savings.

Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

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Invest Africa and Premier Invest Announce Strategic Partnership to Catalyse Investment in Africa

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This partnership will leverage key events for the global Africa-focused investment community, bringing together investors and corporates who are committed to the continent’s progress

LONDON, United Kingdom, November 13, 2024/APO Group/ — 

Invest Africa (www.InvestAfrica.com), the leading pan-African business platform, is proud to announce a strategic partnership with Premier Invest, a global investment conglomerate, aimed at driving transformative investment into Africa. This collaboration is set to identify and unlock new avenues for growth, innovation, and sustainable development across the continent through a series of targeted engagements, including The Africa Debate in London and the UAE, as well as Invest Africa’s Mining Series, held alongside the annual Mining Indaba conference.

This partnership with Invest Africa marks a significant milestone for Premier Invest as we seek to deepen our engagement in Africa and other emerging markets

As Africa stands on the brink of a new era of economic transformation, this partnership will leverage key events for the global Africa-focused investment community, bringing together investors and corporates who are committed to the continent’s progress and prosperity.

Chantelé Carrington, CEO of Invest Africa, commented on the partnership: ”Africa is entering a pivotal phase of economic transformation, and ensuring that the right investment and expertise are directed to the continent is crucial. Our partnership with Premier Invest is a great step towards this objective. By tapping into our expansive network, strategic communications, and robust events programme, we look forward to working alongside Premier Invest to channel the much-needed investment flows that will drive Africa’s growth.”

Rene Awambeng, Managing Partner of Premier Invest, added: “This partnership with Invest Africa marks a significant milestone for Premier Invest as we seek to deepen our engagement in Africa and other emerging markets. Invest Africa’s unrivalled network and market insights will be invaluable as we work together not only to identify and capture high-growth opportunities but also to contribute meaningfully to the economic development of the regions we serve, particularly across Africa.”

This partnership exemplifies the shared commitment of Invest Africa and Premier Invest to harness the full potential of capital in Africa and beyond. By uniting our strengths, we are laying the groundwork for transformative investments that will fuel economic growth and development for years to come.

Distributed by APO Group on behalf of Invest Africa.

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