Category: Africa

Source: APO

Mukuru (www.Mukuru.com), a leading next-generation financial services platform, has partnered with AI-powered banking technology provider JUMO to launch ‘ Fast Loan’, a scalable, mobile-first credit solution designed to address a critical gap in South Africa’s financial ecosystem.

According to TransUnion (https://apo-opa.co/4nVVSPL), 16.8 million people in South Africa remain outside the formal credit system. Many earn irregular incomes, lack traditional credit histories, and are excluded from mainstream financial services.

With the launch of Fast Loan, the two African fintech leaders aim to close this gap by offering fair, transparent, and responsible access to short-term credit by combining Mukuru’s trusted customer relationships and network with JUMO’s AI-driven credit infrastructure.

JUMO’s banking as a service infrastructure will power Fast Loan. JUMO  provides plug-and-play infrastructure behind a new generation of data orientated financial products. Their solutions include SME and retail banking software infrastructure provided to banks.

Mukuru customers can apply via WhatsApp, with instant disbursements to their Mukuru Card. Loan amounts range from R100 to R8,000, repayable over 30 days, and funds can be used immediately across all digital channels such as POS or online ecommerce with the card, or on any of the many value-added services offered by Mukuru. They can also be withdrawn as cash at any ATM or at over 11,000 of Mukuru’s retail partner points, including Spar, Pick ’n Pay, Boxer, and Shoprite.

Loan pricing is transparent: a 11.5% initiation fee, interest in arrears (5% for first loans, 3% thereafter), and capped penalties. Customers who repay early incur no interest charges, encouraging responsible borrowing and providing an affordable lending option for many customers who have not had access to formal credit until now.

All loans are reported to credit bureaus, helping customers build formal financial profiles. JUMO’s ethical lending technology has been independently verified, earning a 92.2% score in the Cerise + SPTF Customer Protection Certification, being one of the highest in the industry.

Andy Jury, Group CEO of Mukuru, said:
“Fast Loan is built on years of deep engagement with South Africa’s informal economy. It reflects our understanding of how our customers earn, transact, and manage financial pressure. Partnering with JUMO allows us to scale this offering responsibly; combining trust, technology, and insight to deliver meaningful financial solutions where they’re needed most.”

Andrew Watkins-Ball, Founder and CEO of JUMO, added:
“We are proud to work with Andy and the team at Mukuru. Their products are relied upon by millions of customers and we will work hard to provide them with the technology infrastructure that they need to deliver more value to their customers.”

Beyond providing immediate access to credit, Fast Loan will generate valuable insights into customer borrowing behaviour, repayment patterns, and financial goals. These learnings will guide future product enhancements including longer terms, higher loan amounts, and more flexible repayment options.

Distributed by APO Group on behalf of Mukuru.

Media enquiries:
comms@jumo.world

About Mukuru:
Mukuru is a leading next-generation financial services platform serving over 17 million customers across Africa, Asia and Europe. With more than 100 million transactions processed across 570+ corridors, Mukuru leverages technology to provide affordable, accessible financial services via both physical and digital channels. Recognised six times in the FXC Intelligence Top 100 Cross-Border Payment Companies, Mukuru is also an award-winning employer and innovation leader.

www.Mukuru.com

About JUMO:
JUMO has developed AI-led financial technology that enables banks to offer a new generation of digital credit and savings products to millions of entrepreneurs in Africa. JUMO works with partners, such as banks, e-money operators and payments providers, to facilitate high-tech information and money management systems.

Since its founding in 2015, JUMO has enabled over $8.7 billion of lending by banks to 35 million people in Ghana, Kenya, Tanzania, Zambia, Uganda, Côte d’Ivoire, South Africa, Benin and Cameroon.

With unmatched speed to market and low infrastructure costs, JUMO aims to bring banking to everyone, everywhere, at any time.

www.JUMO.world
 

Source: APO

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On the back of a series of oil and gas milestones reached in 2025, Senegal’s Minister of Energy, Petroleum and Mines Birame Soulèye Diop has joined the MSGBC Oil, Gas & Power 2025 Conference and Exhibition – taking place in Dakar from December 8–10, 2025. During the event, Minister Diop is expected to share insight into how ongoing energy developments are shaping regional dynamics and how future investments will cement Senegal’s position as a hub for investment and industrialization.

Following the start of the Sangomar oilfield project in 2024 and the Greater Tortue Ahmeyim (GTA) development in 2025, Senegal is turning towards the next phases of its energy development. This includes bringing GTA to full operational capacity while advancing the project’s second phase, which will increase output to five million tons per annum. Meanwhile, under the government’s development plan Senegal Vision 2050, Senegal is actively seeking potential partners to join the national oil company Petrosen and international oil company Kosmos Energy in developing the deep‑water offshore gas field Yakaar‑Teranga – estimated at about 25 trillion cubic feet of advantaged gas‑in‑place.

To support future investments, the Ministry of Energy, Petroleum and Mines has been modernizing the oil and gas sector while fostering conditions for industrial growth across the country. The government announced in October 2025 that it is currently reviewing all its codes – including investment, fiscal, gas, oil, mining and electricity – to create a stable framework that encourages investors while preserving indigenous rights. The review is expected to entice foreign expenditure by improving the business climate for global operators.

Midstream infrastructure also represents a key development focus for the Ministry. The state-owned Réseau Gazier du Sénégal is spearheading the construction of a 400 km national gas pipeline network, valued at $1 billion, to link offshore fields – namely GTA and Yakaar-Teranga – to power plants and industrial hubs across the country. Designed to transport up to 2.5 billion cubic meters of gas per year, the network will facilitate the conversion of existing power plants from fuel oil and coal to natural gas, significantly reducing both costs and emissions. The project is being rolled out in five segments, including an initial 85 km northern section already under development and additional phases currently in tender.

The Ministry of Energy, Petroleum and Mines also aims to attract investment into downstream projects that can accelerate Senegal’s path toward industrialization. The state-owned Société Africaine de Raffinage (SAR) currently refines around 1.5 million tons of crude oil per year, but its SAR 2.0 expansion project seeks to add an additional 4 million tons annually by 2029, bringing total capacity to 5.5 million tons per year. With an estimated investment of $2 billion–$5 billion, this development is designed to meet domestic fuel demand and position Senegal as a regional exporter of refined petroleum products across West Africa.

“Ongoing project developments underscore Senegal’s growing role as a hub for energy investment within the MSGBC region,” said Sandra Jeque, Project Director, Energy Capital & Power. “Minister Diop’s participation at the MSGBC Oil, Gas & Power 2025 conference will be instrumental in connecting high-impact projects with strategic investors, thereby supporting the next phase of the country’s energy development.”

Explore opportunities, foster partnerships and stay at the forefront of the MSGBC region’s oil, gas and power sector. Visit www.MSGBCOilGasAndPower.com to secure your participation at the MSGBC Oil, Gas & Power 2025 conference. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

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

Source: APO

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The Chairperson of the Portfolio Committee on Higher Education, Mr Tebogo Letsie, has noted the resignation of Dr Karen Stander as Chairperson of the National Student Financial Aid Scheme (NSFAS) Board.

Mr Letsie said the committee was shocked to learn of Dr Stander’s resignation. However, he respects her decision and acknowledges the reasons she outlined in her resignation letter, which include concerns about the governance environment within the institution.

“The committee appreciates her service and the commitment she demonstrated in steering NSFAS through a challenging period marked by the implementation of critical reforms to strengthen accountability and efficiency. We are saddened that this has happened rather so soon, this board was constituted this year with Dr Stander entrusted with steering it and her concerns should be taken seriously,” said Mr Letsie.

Mr Letsie said her reflections highlight the urgency of stability and effective governance within NSFAS to ensure that the scheme continues to deliver on its mandate of providing equitable access to higher education for deserving students.

“The committee will engage the Department of Higher Education and Training and the remaining NSFAS Board members to understand the implications of this resignation and the measures being put in place to ensure continuity and institutional stability,” he added.

The committee thanks Dr Stander for her contribution and wishes her well in her future endeavours.

Distributed by APO Group on behalf of Republic of South Africa: The Parliament.

Source: APO

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The Standing Committee on Public Accounts (SCOPA) will this week continue with its oversight enquiry into the financial management and related affairs of the Road Accident Fund (RAF).

On Tuesday, former PwC employee Mr Johan van Huyststeen will testify on the nature of the advice sought by the RAF regarding the changes the fund made to its accounting policy.

The change in accounting policy led to a protracted legal dispute with the Auditor-General (AG) with a full bench of the High Court in Pretoria ruling in favour of the AG, while the Supreme Court of Appeal has on two occasions turned down the RAF’s appeal. Over R10 million in legal fees has been spent by the RAF over the matter.

The committee will also hear from the RAF’s Chief Financial Officer Ms Berenice Potgieter and suspended Acting Chief Investment Officer Mr Sefotle Modiba will also testify on the accounting policy, actuarial evaluations and the impact on hundreds of thousands of claimants.

On Wednesday Mr Stephen Msiza will testify on the procurement of close protection services for the former RAF CEO, Mr Collins Letsoalo that exceeded the R480 000 limit set by the Board of the RAF.

Distributed by APO Group on behalf of Republic of South Africa: The Parliament.

Source: APO – Report:

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, received H.E. Eng. Sherif El-Sherbiny, Minister of Housing, Utilities and Urban Communities, to discuss the executive status of the Presidential Initiative “Haya Karima” (Decent Life) and the projects of the Investment Plan for the Urban Development Sector.

The two Ministers discussed the developments in the implementation of the Investment Plan for the Urban Development sector with its various activities and fields in the water and sanitation sectors, construction and building, and real estate activities. The total estimated investments in the plan for the current fiscal year amount to about EGP 505 billion. The meeting also reviewed the implementation status of the projects of the Presidential Initiative “Haya Karima” (Decent Life), which is of great importance to the state given its contribution to developing services and infrastructure in the Egyptian countryside villages.

For her part, Dr. Rania Al-Mashat reaffirmed the government’s keenness to move forward with the implementation of the “Haya Karima” (Decent Life) initiative, in light of the directives of the President of the Republic to develop human capital through the advancement of education and health services, supporting social protection programs, and improving the lives of citizens in the Egyptian countryside villages. She pointed out that the investments for the first phase of the initiative amount to about EGP 350 billion, with more than 86% of the projects listed in that phase already implemented.

In the same context, the Minister Al-Mashat noted the government’s efforts to enhance the private sector’s involvement in implementing the investment plan projects, by expanding partnership projects. This is in line with efforts to govern public investments and rationalize investment spending to make way for efforts to enable the private sector. She mentioned that the ceiling for investment spending for the current fiscal year amounts to EGP 1.16 trillion.

The Minister of Housing underscored that the various projects being implemented within the Presidential Initiative “Haya Karima” for the development of the Egyptian countryside are among the most important national projects currently underway across the country. These projects are being directly and periodically followed up by H.E. President Abdel Fattah El-Sisi, President of the Republic, in order to provide a decent life for Egyptians.

Eng. Sherif El Sherbiny added that a number of projects are being implemented within the current fiscal year’s budget concerning drinking water and sanitation projects, and construction and building, and these are planned to be completed according to their scheduled timetables, whether in new cities or inside villages, as part of the ministry’s investment plan.

– on behalf of Ministry of Planning, Economic Development, and International Cooperation – Egypt.

Source: APO – Report:

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The European Union (EU) takes note of the proclamation by the Independent National Electoral Commission of Tanzania and the Zanzibar Electoral Commission of the results of the presidential elections held on 29 October 2025.

The EU is very concerned with the events that occurred throughout the Election Day and that are still ongoing, including violence, the internet shutdown as well as reports of irregularities in the election process in some places. Reliable reports of large number of fatalities and significant injuries are of extreme concern. The EU urges authorities to exercise maximum restraint to preserve human lives.

The lack of level playing field in the run up to the elections was marked by reports of abductions and disappearances and violence limiting the civic and democratic space. The EU calls for the release of all detained politicians and for a transparent and fair trial of those arrested on a sound legal basis and for swift and thorough investigations into all reported incidents of abductions, disappearances and violence.

The EU values its long-standing partnership with Tanzania in line with the joint commitments entered into under the EU-OACPS “Samoa” Agreement, in particular on strategic priorities. The EU encourages the Government of Tanzania to continue its efforts towards the implementation of a fully-fledged multi-party system, and to engage in an open and inclusive dialogue with all stakeholders, in particular opposition parties and civil society for reconciliation.

– on behalf of Delegation of the European Union to the United Republic of Tanzania and the East African Community.

Source: APO – Report:

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President Cyril Ramaphosa has in terms of Section 6 of the Electoral Commission Act and on the recommendation of the National Assembly appointed commissioners of the Independent Electoral Commission who will serve for a period of seven years.

Mrs Joyce Pitso will serve as a full-time member of the Electoral Commission.

Judge Dhaya Pillay will serve as a part-time member of the Electoral Commission.

Mr Mosotho Moepya will serve as a full-time member of the Electoral Commission.

President Ramaphosa has also, in terms of Section 8(1) of the Electoral Commission Act, designated Mr Moepya as the chairperson of the Commission.

The President wishes the commissioners well in safeguarding the integrity of diverse elections in the country.

– on behalf of The Presidency of the Republic of South Africa.