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The role of financial services in achieving financial inclusion in Rwanda and beyond (By Dr. Reda Helal and Benjamin Mutimura)

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2 years ago

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Rwanda

The momentum of financial inclusion programmes is progressively strengthened as financial institutions, businesses and consumers embrace cashless convenience and digital payments that are secure and seamless

KIGALI, Rwanda, May 15, 2024/APO Group/ — 

By Dr. Reda Helal, Group Managing Director – Processing, Africa and Co-Head Group Processing, Network International (https://www.Network.ae) and Benjamin Mutimura, CEO, I&M Bank (Rwanda) Plc.

The momentum of financial inclusion programmes is progressively strengthened as financial institutions, businesses and consumers embrace cashless convenience and digital payments that are secure and seamless. Technology development broadens the scope of delivery of financial services, and the advantages of digital payments manifest in providing easy access to the masses, reducing travel and queuing times, quicker transactions and seamless money movements that are cashless.

Currently, Rwanda is a prime market for digital payments, with a young population of which 69 per cent is below the age of 30, and the second-highest population density in Africa. With 87 per cent mobile penetration and an accelerated mobile payments market that grew over 450 per cent [1] during the pandemic, the cashless economy is expected to expand further. In 2022, the number of fund transfers through mobile payment channels amounted to 310 million transactions. In November 2022, the value of these transactions also rose by 41 per cent, from RWF 4.7 trillion to RWF 6.6 trillion, as reported by the National Bank of Rwanda (NBR). The country has set an ambitious target to achieve full financial inclusion by 2024.

Rwanda’s Vision 2050 and the National Strategy for Transformation 2017–2024 set the aspiration for the country to become a strategic hub for financial services in Africa. The growth of the fintech sector is vital to achieving this goal as it encourages the use of digital payments by Rwandan residents. Fintech is a huge contributor in propagating cashless systems and promoting financial inclusion.

A study commissioned by Access to Finance Rwanda in 2022 to assess the “data analytics capacity of Rwanda’s financial institutions, regulators and other local service providers” showed that Rwanda’s financial sector produces a lot of data but only a handful of stakeholders are turning data into insights. Such a limited data-driven culture and the lack of use of data to build products and solutions will severely hinder the financial services sector.

The report states this constitutes a missed opportunity to understand the profiles and needs of clients, optimise business performance, and predict future results while creating efficiencies.

In a radically changing market such as Rwanda, digital payments are of prime importance, specifically in the context of contactless payments and mobile wallets. These unlock significant benefits for consumers for fast, easy, and secure transactions.

Network’s partnership with I&M Bank was formed to reinforce the bank’s digital-first strategy and leadership in the Rwandan market. Through this partnership, Network will offer a variety of payment products and services including credit and prepaid card hosting and processing, along with robust security protocols and a sophisticated API gateway to provide customers value-added services that will enable their financial services with data and analytics, hyper-targeted loyalty management solutions, and tokenization, among other benefits.

In a world where contactless payments and digital wallets are fast becoming the norm, services such as tokenization, customer loyalty management, data streaming, customer profiling and data analytics are simplifying and bringing innovation to commerce and payments. The Rwandan economy has already begun to see the benefits of such innovation, which ushers more citizens into the formal financial system. This will pave the way to making the country an important hub for financial services in the region, with superior banking frameworks that are on par with international standards.

Knowledge dissemination will play a vital role in laying out the foundation for a paradigm shift towards digital payments in the country, which is inclusive and resilient

New and superior digital banking experiences that leverage technological innovation will ensure financial inclusion in its truest form. The World Bank’s Rwanda Economic Update [2] suggests that financial services can play a larger role in increasing financial inclusion with the help of innovation. Challenges like the digital divide, limited infrastructure, and financial literacy gaps persist, but policymakers should enhance regulatory frameworks, improve financial and digital infrastructure, and expand government support to foster a digital-friendly environment, according to the report.

As the country tries to reach its financial inclusion target in 2024, knowledge dissemination will play a vital role in laying out the foundation for a paradigm shift towards digital payments in the country, which is inclusive and resilient.

[1] https://apo-opa.co/3V2hy12

[2] https://apo-opa.co/3V18wl1

Distributed by APO Group on behalf of Network International.

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Energy

Mauritania’s New Energy and Petroleum Minister Confirmed for MSGBC 2026

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1 hour ago

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November 10, 2026

By

Etu Energias

Mohamed Ould Abdel Vetah takes office as Mauritania opens power generation to private investors

DAKAR, Senegal, November 9, 2026/APO Group/ –Mohamed Ould Abdel Vetah, Mauritania’s newly appointed Minister of Energy and Petroleum, has confirmed his participation at MSGBC Oil, Gas & Power 2026 in Dakar. Minister Vetah was appointed on October 10 in a new 29-member government, having previously served as Minister of Petroleum, Energy and Mines from 2016 to 2020. His participation at the upcoming summit offers delegates direct engagement with the official responsible for Mauritania’s gas and power agenda as the country seeks to attract capital across its evolving energy and hydrocarbon sectors

 




  

Minister Vetah joins the event as Mauritania enters a new investment cycle anchored by efforts to scale gas monetization, incentivize exploration and open new opportunities in renewable energy and power development. The country has been an LNG exporter since early 2025, when the Greater Tortue Ahmeyim (GTA) project, developed jointly with Senegal, shipped its first cargo. The project is now operating at full capacity, and gas is also set to anchor domestic power supply, with national utility Somelec and state miner SNIM having signed power purchase agreements with Saudi Arabia’s TAQA and Egypt’s GoGas Holding. The agreements fit within a gas-to-power program tied to the country’s Banda field and targeted for 2028.

 

Mauritania has committed to a fully private power generation model in which independent power producers develop all new plants, with two gas-fired projects in development expected to add a combined 550 MW to the grid. Renewables are scaling in parallel, led by a 220 MW solar-wind plant with 370 MWh of battery storage, developed under a 15-year concession with Somelec and slated to begin commercial production in the final quarter of 2026.

 

Minister Vetah’s career spans Mauritania’s gas sector and regional energy cooperation. During his previous term, Mauritania and Senegal signed the GTA gas sales agreement with bp and Kosmos Energy in 2020, and before entering government he served as General Manager of state gas company SOMAGAZ and as a consultant to TotalEnergies E&P Mauritania. Most recently, he spent nearly four years as High Commissioner of the Organization for the Development of the Senegal River.

 

Regional cooperation has been an early priority for the minister, who was received in Dakar by Senegalese President Bassirou Diomaye Faye on October 16 and reaffirmed his commitment to cooperation between the two countries. At MSGBC Oil, Gas & Power 2026, Minister Vetah will speak during the event’s Ministerial Dialogue, titled ‘Executing the MSGBC Region’s Energy Strategy’ and the Mauritania National Spotlight.

Organized by Energy Capital & Power, MSGBC Oil, Gas & Power 2026 takes place December 1-3 at the Centre International de Conférences Abdou Diouf (CICAD) in Dakar under the High Patronage of President Bassirou Diomaye Faye. For more information and registration, visit www.MSGBCOilGasAndPower.com.

 

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

 

 




 

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Business

DHL Global Forwarding Appoints Sascha Geiken as Chief Executive Officer (CEO) for Sub-Saharan Africa

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1 hour ago

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November 10, 2026

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DHL Global Forwarding and MEDS sign strategic MoU to strengthen logistics and improve access to pharmaceutical products across East Africa

DUBAI, United Arab Emirates, November 10, 2026/APO Group/ –DHL Global Forwarding, the air and ocean freight specialist of DHL Group, has appointed Sascha Geiken as CEO for Sub-Saharan Africa, excluding South Africa, effective. He succeeds Egidio Monteiro and will report to Tobias Maier, CEO, DHL Global Forwarding Middle East and Africa.

 




  

Sascha Geiken previously served as Vice President Ocean Freight for Middle East and Africa at DHL Global Forwarding. He brings more than 30 years of experience in freight forwarding, having started his career in the industry in 1995. Before joining DHL Global Forwarding, he held senior leadership positions in the Middle East, including managing director roles covering several markets in the region.

Sascha knows our business and he knows this region

During his time leading Ocean Freight across Middle East and Africa, Sascha Geiken has gained extensive experience managing freight flows across a diverse and complex region. His current remit includes global trade, ocean freight trends and services, rates, capacity and trade-lane development, as well as sustainable transport. He has also worked closely on the changing trade flows connecting Africa with Europe, Asia and the Middle East.

Tobias Maier, CEO, DHL Global Forwarding Middle East and Africa, said: “Sascha knows our business and he knows this region. He has spent many years working across complex markets and understands what it takes to turn growing trade flows into reliable solutions for our customers. Sub-Saharan Africa is an important growth market for us, but it is also a market where strong local execution really matters. I am very pleased to have Sascha take on this responsibility, and I am confident he will continue to move our business forward together with our teams across the region.”

On his appointment, Sascha Geiken said: “I’m very happy to take on this new role. Having worked across Middle East and Africa for many years, I know both the opportunity in Sub-Saharan Africa and the realities of moving goods across the region. Trade is growing, but our customers need more than capacity. They need reliability across the entire supply chain, from the international leg through customs and inland transport to final delivery. I look forward to working with our teams across the region and building on what is already a very strong foundation.”

The appointment comes as DHL continues to invest in the long-term growth of its business in Africa. In 2025, DHL Group announced an investment of more than €300 million in Sub-Saharan Africa to expand infrastructure and services across DHL Express, DHL Global Forwarding and DHL Supply Chain.

Distributed by APO Group on behalf of DHL.

 

 




 

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Business

CEM & Converge Africa bring CX and digital commerce leaders together in Sandton

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1 hour ago

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November 10, 2026

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Two connected event experiences will bring senior customer experience, retail, ecommerce, marketing, technology and transformation leaders together on 10–11 November 2026, with the CEM Africa Awards taking place on the evening of 10 November

Together, the programmes give senior leaders practical insight they can take back into the business

JOHANNESBURG, South Africa, November 9, 2026/APO Group/ –CEM Johannesburg Edition returns to the NH Hotel in Sandton on 10–11 November 2026, alongside Converge Africa Johannesburg on 10 November, creating a concentrated meeting point for leaders shaping customer experience and digital commerce across Africa.

 




  

Across the combined programme, delegates will move between practical workshops, peer-led panels, curated networking and business matchmaking focused on the issues now influencing customer and commercial performance: AI and automation, trust, behavioural insight, journey design, retail media, unified commerce, fulfilment, loyalty, retention and measurable business outcomes.

The co-location gives attendees access to two complementary communities. CEM Johannesburg Edition focuses on customer experience strategy, service, technology and transformation, while Converge Africa Johannesburg brings a sharper retail and digital commerce lens to how customers discover, buy, receive, return and remain loyal.

Programme highlights:

  • The Trust Problem: Can Customers Trust an Experience They Can’t See?
  • Designing for How Customers Feel
  • Authenticity in AI: From Conversation to Completion Without Losing the Human Touch
  • The Customer Doesn’t See Your Org Chart: Why Marketing & CX Must Collaborate
  • From Contact Centre to Experience Centre: The Human + AI Workforce
  • Retail Is Being Rewritten: The New Rules of How Consumers Discover, Shop & Belong
  • Retail Media: Turning Customer Attention Into a New Revenue Stream
  • Unified Commerce: One Customer, One Stock Pool, One Connected Experience
  • Black Friday From Discovery to Doorstep: Can Retail Deliver on the Customer Promise?
  • AI That Actually Works: From Retail Hype to Measurable Results
  • Loyalty, Retention & the Post-Purchase Experience: From Transaction to Lifetime Value

Day two of CEM Johannesburg Edition continues the discussion with sessions examining how Africa’s best brands turn CX into trust, loyalty and growth, the changing future customer, experience intelligence, and how WhatsApp can move beyond conversation to completed customer outcomes.

Confirmed voices from across CX, retail and digital commerce

The programme brings together senior practitioners, consultants and technology leaders from across the customer and commerce ecosystem. Confirmed speakers and workshop leaders include:

  • Gedeon Rossouw – Head of Client Care (Principal/Director), Absa
  • Tatiana Ndlovu – Executive Head: Marketing, Nedbank Africa Regions
  • Julia Ahlfeldt – Customer Experience Strategist and Business Advisor, Julia Ahlfeldt CX
  • Debi Potgieter – CEO & Founder, XMwize Solutions
  • Joven Pillay – EMEA Customer Consulting Leader, KPMG South Africa
  • Christopher Baird – Head of Ecommerce (Southern Hemisphere), G-STAR
  • Adrian Naidoo – Senior HOD: Commercial, Retail Media, Data & Innovation, Boxer Superstores
  • Keanu Batista – Head of E-Commerce South Africa, Pernod Ricard
  • Kieara Hyman – Head of Commerce & Retail, Publicis
  • Kerry Ho-Van Rensburg – Head of Digital Marketing Operations, Pick n Pay
  • Nneka Keshi – Country Director & Africa Lead, Canva
  • Yudhvir Ranchod – Marketing Director, Peach Payments
  • Prathna Singh – Global Retail and South Africa Lead, Intent HQ

Sponsors and programme partners

CEM Johannesburg Edition sponsors:

  • Gold sponsors 1Stream, Cisco, KPMG and Microsoft
  • Silver sponsors Clickatell, QuestionPro, NPLUS, SingleInterface and Zoom
  • Innovation Sponsor XMwize Solutions
  • CX Report Sponsor Rogerwilco
  • Workshop Sponsor Smoke

Converge Africa Johannesburg programme partners: The Courier Guy features as a Diamond Sponsor and workshop partner, with DigiCommerce and Instore24 leading dedicated programme sessions focused on unified commerce and converting digital discovery into measurable in-store growth.

CEM Africa Awards to recognise Africa’s CX leaders

The CEM Africa Awards will take place on the evening of 10 November 2026 at the NH Hotel, Sandton. The 2026 awards programme has attracted 97 entries and 31 finalists, with eight awards spanning four pillars of customer excellence: People, Innovation, Transformation and Government.

Award categories include: CX Leader of the Year; Breaking Barriers in CX; Rising Star in CX; Best Overall CX Solution; Best Use of AI; Best Enterprise Contact Centre Platform; Best Customer Experience Team of the Year; Best Digital Transformation in Public Services; and Best Citizen Experience Initiative.

Among the 2026 finalists publicly announced are Rowland Ndegwa of Jubilee Insurance in the Rising Star in CX category, while LAW FOR ALL, MTN Nigeria, Equity Holdings Group and Clientèle are among the finalists for Best Customer Experience Team of the Year.

“Johannesburg brings together two communities that increasingly need to solve the same customer problem from different angles. CEM Johannesburg Edition looks at the experience, service and transformation agenda, while Converge Africa examines the commercial and operational realities of modern retail and ecommerce. Together, the programmes give senior leaders practical insight they can take back into the business.”

Terry Southam – Director Retail Portfolio

Event information

CEM Johannesburg Edition: 10–11 November 2026 | NH Hotel, Sandton, Johannesburg — View details / book (https://apo-opa.co/48Jo1UK)

CEM Johannesburg Edition live programme: View the full  agenda — View details / book (https://apo-opa.co/4ix4v3N)

Converge Africa Johannesburg: 10 November 2026 | NH Hotel, Sandton, Johannesburg — View details / book (https://apo-opa.co/4j6LLrS)

CEM Africa Awards: 10 November 2026 | NH Hotel, Sandton, Johannesburg — View details / book (https://apo-opa.co/4zdIJqO)

Distributed by APO Group on behalf of VUKA Group.

 

 




 

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