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Solid first quarter with good revenue and strong margin performance, supported by record merchant wins

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Network International

Network International has announced a solid first quarter with constant currency revenue growth of 16% y/y

DUBAI, United Arab Emirates, April 19, 2023/APO Group/ — 

Very strong growth in Group TPV of 27% y/y in constant FX and continued progress in strategic focus areas, with Group online TPV up 43% y/y (excl. Government) and Group SME volumes up 36% y/y. Constant currency revenue growth of 16% y/y, supported by growth in credentials hosted and strong double-digit performance in transactions processed across both the Middle East and Africa. New financial institution (FI) wins including Vodacom Financial Services, one of Africa’s top mobile network operators and e& money, the fintech arm of e& life, a leading regional telecom operator.

Network International Holdings Plc, Q1 2023 trading update

Network International has announced a solid first quarter with constant currency revenue growth of 16% y/y. The business is a leading enabler of digital commerce across the Middle East and Africa, providing a full suite of technology-enabled payment solutions to merchants and financial institutions of all types and sizes.

Nandan Mer, Chief Executive Officer, commented: “We have seen a solid start to the year. This demonstrates economic strength across key markets, supported by the accelerated transition from cash to digital payments and continued successful strategic execution of our growth-oriented strategy. Merchant Services performance remains very strong, with trends reflecting buoyant UAE consumer spending and the region’s attractiveness to international visitors. Merchant Services performance across Africa has improved when compared to the exit rates we saw at the end of 2022 and the launch in Egypt is progressing well. Momentum in Outsourced Payment Services has also improved, with growth supported by new business and continued strength in the existing portfolios. We are encouraged by the start to the year.”

Rohit Malhotra, Chief Financial Officer, commented: “Financial performance in the first quarter has underpinned our guidance and outlook for the full year. Revenue growth of 16% y/y in constant currency saw good delivery from across the business, with Merchant Services showing particularly strong growth and Outsourced Processing seeing an uptick in momentum compared to the exit rate in 2022. We have maintained disciplined cost control, with a corresponding strong margin position. Cash generation is healthy, and the balance sheet remains strong, with our capital allocation policy focused on deploying investment towards new growth opportunities, as well as the ongoing execution of our USD 100 million share buyback programme.”

Growing International Presence

Good progress in newly launched Egypt Merchant Services

Momentum in Outsourced Payment Services has also improved, with growth supported by new business and continued strength in the existing portfolios

Merchant Services in Egypt launched in January and is progressing well, with transactions live. Network is focused on the fragmented and underserved SME segment, enabling SMEs with digital payment acceptance methods through point-of-sale devices and ‘Tap-on-Phone’ smartphone app technology.

Strong Customer Growth Across the Business

New merchant wins remain at record levels

Following a record year of merchant wins in 2022, strong momentum in new signings continued through Q1 2023. Network secured several new merchants including Tourvest Holdings, the duty-free provider for airlines in Africa, where Network is enabling digital payments on all Kenya Airways flights. The company also became the payments partner of choice for the Namibian government, enabling digital payments for e-visas and passport applications across the country. The continued strength in Group SME TPV growth of 36% is supported by the pace of new signings which accelerated through the period, supported by Network’s fully digital onboarding process which now features 3D Secure 2.0 as a default for new merchants.

New Outsourced Payment Services customer wins

Network secured three new FIs across its markets, including Vodacom Financial Services, one of Africa’s most renowned MNOs, to provide merchant acquirer processing services in South Africa. Network also renewed an existing contract with Polaris Bank in Africa for a further five years, providing one of Nigeria’s leading retail banks with card hosting, operational and management services. Furthermore, the company’s partnership with Mastercard remains strong, with the commercialisation of many recently agreed services and capabilities, including fraud mitigating services through Brighterion and ‘Click to Pay’.

Enhanced capabilities including new payment acceptance methods and value-added-services

This quarter Network partnered with Ecocash, a Mobile Network Operator in Zimbabwe, to enable even more merchants to accept mobile money payments. The company also became the single point of contact for merchants through its expanding range of value-added services and by providing its merchant customers with additional tools to further grow their businesses.

Cross-sell and new product launches

Network’s fraud monitoring capabilities continued to gain traction this quarter, having signed a new agreement with United Arab Bank for the provision of fraud monitoring solutions, in partnership with FICO, with Arab African International Bank also extending its portfolio to include fraud monitoring.

Network remains the card issuer of choice in its markets, having strengthened its relationship with Access Bank in South Africa to issue virtual cards and launching new pre-paid cards for Blink Neobank.

Distributed by APO Group on behalf of Network International.

Business

African Energy Chamber (AEC) Supports Perenco Partnership to Advance Industry 4.0 Skills in Central Africa

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African Energy Chamber

The African Energy Chamber welcomes Perenco Cameroon and Perenco Gabon’s partnership with UCAC-ICAM to launch an Industry 4.0 lab, advancing local skills development and strengthening Africa’s industrial future

JOHANNESBURG, South Africa, April 9, 2026/APO Group/ –A new partnership between Perenco Cameroon, Perenco Gabon and the UCAC-ICAM Institute in Douala to establish an Industry 4.0 laboratory marks a significant step toward aligning academic training with the evolving needs of the energy and industrial sectors. The facility will give students access to advanced automation, digital simulation and smart production technologies, helping close the gap between academic learning and the practical, industry-ready skills required across Central Africa’s industrial landscape.

 

As the voice of Africa’s energy sector, the African Energy Chamber (AEC) welcomes the initiative as a scalable model for local content development. By equipping students with Industry 4.0 capabilities, the laboratory directly supports the Chamber’s mandate to ensure greater in-country value creation and workforce participation across Africa’s energy value chain. The initiative also addresses critical skills shortages, enabling operators to increasingly rely on locally trained talent.

 

Developing local skills is fundamental to building a competitive and sustainable energy sector in Africa

The partnership underscores Perenco’s long-term commitment to sustainable development and capacity building in Cameroon and Gabon. Designed as a mini-factory, the UCAC-ICAM laboratory enables students to engage with real-world industrial tools and processes. This hands-on approach will support the development of engineers and technicians capable of contributing to key projects, including operations in the Rio del Rey Basin and infrastructure developments such as the Cap Lopez LNG terminal in Gabon.

 

Students across multiple disciplines will benefit from hands-on exposure to the lab’s advanced technologies. General Engineering students will train using robotic systems and virtual reality simulations, while Computer Science Engineering students will focus on industrial IoT and smart technologies. Process Engineering students will gain experience in automated production systems, and Petroleum program students will develop expertise in energy systems and instrumentation control. Graduates from UCAC-ICAM are being actively recruited by leading companies operating in Douala, reflecting growing demand for locally trained, industry-ready talent.

“Developing local skills is fundamental to building a competitive and sustainable energy sector in Africa,” says NJ Ayuk, Executive Chairman of the AEC. “This partnership demonstrates how industry and academia can work together to create a highly skilled workforce that will drive Africa’s industrialization and energy future. It is exactly the type of initiative needed to ensure Africans play a leading role in developing the continent’s resources.”

The UCAC-ICAM laboratory represents a strategic investment in Africa’s industrial and energy future. By strengthening local capacity, advancing technology adoption and supporting independent operators, the initiative aligns with the AEC’s broader vision of a self-sufficient and globally competitive African energy sector.

Distributed by APO Group on behalf of African Energy Chamber.

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Securing the bridge between legacy and smart

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DLMS

STS Association and DLMS User Association sign landmark Liaison Agreement to advance interoperable, secure and future-ready metering systems

CAPE TOWN, South Africa, April 9, 2026/APO Group/ –The recent Liaison Agreement between the STS Association and the DLMS User Association marks a pivotal step in the evolution of interoperable, secure and future-ready metering systems. By aligning STS token technology with the widely adopted DLMS/COSEM framework, this collaboration is set to bridge the gap between legacy infrastructure and next-generation smart metering. The partnership reflects a shared vision to enhance interoperability, strengthen smart prepayment integration, and unlock greater value across the global metering ecosystem.

 

STS Association, in partnership with ESI Africa (part of VUKA Group), and DLMS User Association, is hosting a free webinar on this topic:

Securing the bridge between legacy and smart

Thursday, 7 May 2026 | 11:00 AM – 12:00 PM

Register: https://apo-opa.co/4cfEUb5

What you will learn

Industry experts will unpack how this strategic alignment enables seamless integration between your trusted prepayment systems and advanced data exchange protocols. Attendees will gain insight into:

  • How STS tokens can be securely transported using DLMS/COSEM
  • The role of Generic Companion Profiles in enabling interoperability
  • How coordinated roadmaps will shape the future of token technology and smart metering
  • The expanding application of these standards beyond electricity into water, gas and time metering
  • Practical benefits for utilities, manufacturers and system integrators navigating the transition from legacy to smart environments

Introducing the Panel

Lance Hawkins-Dady – STSA Board Chairman

Franco Pucci – STSA Technical Consultant

Don Taylor – STSA Independent Director

Sergio Lazzarotto – DLMS User Association, President

Join STS Association and ESI Africa to explore how this landmark collaboration is securing the bridge between legacy systems and smart innovation. Discover how aligned standards can simplify integration, enhance security and future-proof your metering strategy.

Register now: https://apo-opa.co/4cfEUb5

Distributed by APO Group on behalf of VUKA Group.

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Africa’s Lithium Pipeline Gains Momentum as Global Supply Deficits Loom

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Energy Capital

The upcoming African Mining Week 2026 – taking place from October 14-16 in Cape Town – will connect global investors with prospects within the lithium industry amidst an anticipated resource supply deficit by 2028

CAPE TOWN, South Africa, April 9, 2026/APO Group/ –Rising demand for lithium is positioning Africa to attract foreign investment, accelerate local beneficiation and strengthen its role in securing the global battery supply chain. A recent forecast by Wood Mackenzie projects that global lithium demand could exceed 13 million tons by 2050 under an accelerated energy transition scenario. This surge is expected to place significant pressure on supply, with deficits emerging as early as 2028. Without substantial new investments, existing lithium projects will struggle to meet demand beyond the mid-2030s.

 

Against this backdrop, Africa’s growing pipeline of greenfield and development-stage lithium projects positions the continent as an increasingly important contributor to global supply security. In 2025, Africa ranked as the largest source of new lithium supply globally, with new output from the region exceeding that of the rest of the world combined. This milestone underscores the continent’s potential to scale production and strengthen its role in the global battery minerals market.

Emerging Lithium Producers Strengthen Africa’s Supply Pipeline

Even under a slower energy transition scenario, Wood Mackenzie projects that lithium markets will remain adequately supplied until 2037, before entering deficit. This outlook reinforces Africa’s strategic role as new projects across Mali, Zimbabwe, Ghana and Namibia advance toward production.

In the Democratic Republic of the Congo (DRC), Zijin Mining, AVZ Minerals and KoBold Metals are expected to begin operations at the Manono lithium project in mid-to-late 2026, marking the country’s first lithium output. Ranked among the world’s largest hard-rock lithium deposits, Manono is expected to begin exports shortly after commissioning, diversifying DRC’s mineral output while strengthening the continent`s contribution to the global electric vehicles and battery supply chain.

Mali Emerges as a Regional Lithium Hub

Mali is also rapidly positioning itself as a key lithium producer. The Bougouni Lithium Project, commissioned in 2025, currently produces approximately 125,000 tons per annum of concentrate, with Phase Two expansion plans underway that could nearly double production capacity.

Meanwhile, the Goulamina Lithium Project, one of the largest spodumene deposits globally, is producing around 506,000 tons of spodumene concentrate annually, with expansion plans targeting one million tons per year. Together, these projects are expected to significantly strengthen Mali and Africa’s position within the global lithium market.

Ghana and Zimbabwe Expand Lithium Production and Value Addition

In Ghana, the Ewoyaa Lithium Project, developed by Atlantic Lithium, is set to become the country’s first lithium-producing mine, with production targeted for late 2027. The project is expected to produce 3.58 million tons of spodumene concentrate grading 6% and 5.5%, alongside approximately 4.7 million tons of secondary product, further strengthening Africa’s contribution to global lithium supply.

Meanwhile, Zimbabwe – currently Africa’s largest lithium producer – is accelerating efforts to move up the value chain. Government policies restricting the export of raw lithium are encouraging investment in local processing and beneficiation facilities, supporting the production of higher-value lithium products and positioning the country as a key supplier to the global battery materials market.

Investment Momentum Builds Ahead of African Mining Week

With an estimated $276 billion in new investment required to avoid the forecast supply deficits beginning in 2028, Africa’s lithium-rich countries are well positioned to attract the capital needed to expand production and downstream processing.

In this context, African Mining Week 2026 – scheduled for October 14–16 in Cape Town – will serve as a key platform for global investors, project developers and policymakers to engage on opportunities within Africa’s lithium sector. As the continent’s premier mining investment event, the conference will feature high-level discussions, project showcases and strategic networking sessions aimed at accelerating partnerships across the lithium value chain.

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

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