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Touch and Pay wins $50,000 Ecobank Fintech Challenge 2022

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EcoBank

Touch and Pay processes microtransactions across Africa, such as paying for bus journeys

LOMÉ, Togo, October 28, 2022/APO Group/ — 

Ecobank Group (www.Ecobank.com) is proud to announce that Touch and Pay a Nigeria-based fintech has won the 2022 edition of the Ecobank Fintech Challenge. This announcement was made at the Grand Finale, today at Ecobank’s headquarters in Lomé,  presided by H.E. Cina Lawson, Minister of  Digital Economy and Transformation, Republic of Togo. Touch and Pay took home a $50,000 cash prize, the largest no-strings attached fintech cash prize in Africa.

Touch and Pay processes microtransactions across Africa, such as paying for bus journeys. Today, Touch and Pay has over 2 million users who help 500,000 people make payments every day.

The winner and the other five finalists were also inducted into the Ecobank Fintech Fellowship – a unique programme that gives the Fintech Fellows the opportunity to explore potential commercial partnerships with the Bank, such as integrating with Ecobank’s pan-African banking platforms and scaling their fintech businesses across Ecobank’s 33 African markets.

The five other finalists for the 2022 edition are:

This year’s six finalists have set the bar high at this Grand Finale

  • Cauri Money, Senegal  
  • DizzitUp, Togo
  • MaishaPay, Democratic Republic of Congo
  • Moni Africa, Nigeria
  • Paycode, South Africa
  • Touch and Pay, Nigeria

Ade Ayeyemi, Chief Executive Officer, Ecobank Group, congratulating the finalists, said: “This year’s six finalists have set the bar high at this Grand Finale. Their innovations are revolutionising the financial payments landscape in Africa and advancing financial inclusion. It is an honour for the Ecobank Group to partner with them and jointly transform the financial landscape of our continent.” Mr Ayeyemi also expressed Ecobank’s “profound appreciation to all our partners especially Arise, the gold sponsor of the 2022 Challenge, as well as to the Jury who worked tirelessly to evaluate the finalists and select the winner.

Gavin Tipper, the CEO of Arise, a gold partner and co-sponsor of the challenge, said: “Arise extends its congratulations to the finalists and the winner for the creativity and innovation they displayed. The Ecobank Fintech Challenge has become an important platform for supporting fintech innovators and encouraging bold solutions to advancing financial inclusion in Africa. The talent on offer in this year’s pool of finalists once again exceeded expectations, and we look forward to seeing how the different products transform financial services on the continent.” 

Oluwole MichaelCEO of Touch and Pay expressing deep satisfaction at winning the Fintech Challenge, commentedWe at Touch and pay (TAP) are excited about the opportunity given to us to work with Ecobank, a pan-African bank operating across Africa.  This plugs into our vision of helping 250m Africans process cash-based transactions digitally making them truly cashless and providing true credit facilities for merchants, retailers, and customers.”

In addition to the pitch  by each of the six finalists and a keynote address by H.E. Cina Lawson, highlights at the Grand Finale included panel discussions on ‘Sustaining and deepening investor interest in African Fintech in the face of global economic crisis: what should investors, Fintech companies and governments do?’ and ‘Ensuring Fintech-friendly regulations that accelerate start-up growth and maturity: what is the best way forward for Africa.’

Almost 4,000 start-ups have participated in the five editions of Ecobank Fintech Challenge since it was launched in 2017. Since then, 52 Fintechs have been inducted into the Ecobank Fintech Fellowship. The 2022 Challenge was supported by partners including Arise, Konfidants, Tech Cabal, Africa Fintech Network and ALX Ventures.

Distributed by APO Group on behalf of Ecobank.

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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