Latest news with #emergingmarkets
Zawya
12 hours ago
- Business
- Zawya
From Africa to the world: PalmPay breaks into top 300 fintech companies
In a world where financial inclusion remains one of the greatest hurdles to economic growth, PalmPay is turning the tide. The Africa-focused neobank has once again been named among the 2025 Top 300 Fintech Companies in the World by CNBC and Statista — a nod to its rising influence in shaping digital finance across emerging markets. This marks the second consecutive year that PalmPay has earned a place on the prestigious list, which recognises the world's most innovative and impactful fintech firms. The 2025 ranking was based on a rigorous evaluation of thousands of companies worldwide, assessing key metrics such as growth, innovation, market penetration, and societal impact. Alongside global leaders like Revolut, Nubank, and Ant Group, PalmPay's inclusion underscores the growing influence of emerging-market fintechs on the global stage. Source: Supplied. With more than 35 million registered users and up to 15 million transactions processed daily, PalmPay is gaining traction as one of Africa's fastest-growing digital financial platforms. The company offers a comprehensive suite of consumer and business-facing services, including transfers, bill payments, credit, savings, insurance, and merchant solutions — all delivered via an intuitive mobile app supported by a robust agent and merchant network of over 1 million partners. Trusted, inclusive, expanding In its flagship market of Nigeria, PalmPay operates as a full-service neobank, serving both individuals and businesses. Through a combination of deep local distribution and customer-centric innovation, the platform has become a trusted tool for everyday financial transactions, bridging access gaps in underserved communities. 'To be recognised as one of the world's top fintech companies by CNBC and Statista is a powerful affirmation of our mission to build a more inclusive financial system,' said Sofia Zab, founding chief marketing officer at PalmPay. 'Through cutting-edge technology, deep local distribution, and a customer-first mindset, we've built Nigeria's leading neobank. As we scale PalmPay to more emerging markets, including Tanzania and Bangladesh, our focus remains on closing financial access gaps for everyday consumers and businesses, while expanding the partner ecosystem that fuels our reach and impact.' As part of its broader expansion strategy, PalmPay recently launched operations in Tanzania and Bangladesh through a smartphone device financing model, which serves as a digital entry point for financially underserved users. The company is also scaling its POS and API-based B2B solutions, aimed at small merchants and enterprise clients in need of reliable payment infrastructure. 'PalmPay is building a neobanking platform tailored to the realities of emerging markets,' said Jiapei Yan, Group Chief Commercial Officer at PalmPay. 'We are creating the infrastructure for a connected digital economy — where people and businesses can thrive through reliable, inclusive financial tools. This recognition from CNBC and Statista affirms our progress and also the scale of the opportunity ahead. As we expand across more emerging markets, we are committed to creating lasting value for our users, partners, and the communities we serve.' Growth, reach, recognition PalmPay's recognition by CNBC and Statista follows another major accolade earlier this year: the company ranked #2 overall and #1 in the financial services sector on the Financial Times – Africa's Fastest-Growing Companies 2025 list. This ranking, based on revenue growth from 2020 to 2023, reinforces PalmPay's momentum as one of the continent's fintech frontrunners. Currently active in Nigeria, Ghana, Tanzania, and Bangladesh, PalmPay continues to expand its footprint across Africa and Asia, with a focus on device financing, digital banking, and merchant solutions. Backed by a partnership-led approach and a scalable tech platform, the company is poised to shape the next chapter of inclusive financial growth in high-potential markets around the world. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Bloomberg
14 hours ago
- Business
- Bloomberg
Multibillion Dollar Hopes for Gas Riches Fuel Mozambique's Bonds
Mozambique's bonds have generated three times the average return from emerging markets since April, boosted by the conflict-rattled nation's plan to revive a multibillion-dollar gas project. Bondholders have made more than 23% gains from the country's restructured 2031 dollar note since April 9, versus a 6.5% total return on Bloomberg EM Sovereign Index. That's helped it escape an indicator of debt distress, with yield premiums over US Treasuries falling under 1,000 basis points.
Bloomberg
a day ago
- Business
- Bloomberg
Fund Giants Put Faith in ‘Trump Put' to Keep Stock Rally Rolling
By A cohort of the world's largest asset managers is leaning harder into the rally in risk assets as US stocks push to fresh highs, defying persistent trade and geopolitical tensions. Firms such as Invesco Ltd., Fidelity International Ltd. and JPMorgan Asset Management are reinforcing bullish bets across technology shares from the US to Asia as well as on emerging-market assets. The high-octane wager is that while President Donald Trump is threatening to disrupt the economic order anew, he will step back from the brink.
Reuters
2 days ago
- Business
- Reuters
India's UltraTech Cement beats first-quarter profit view
July 21 (Reuters) - UltraTech Cement ( opens new tab, India's largest cement-maker by capacity, posted first-quarter profit above market expectations on Monday, helped by a slight uptick in prices in a seasonally weak quarter. Consolidated net profit was at 22.26 billion rupees ($258.11 million) - including gains from its acquisition of India Cements ( opens new tab - for the quarter ended June 30, topping analysts' average estimate of 21.56 billion rupees, according to LSEG data. ($1 = 86.2425 Indian rupees)
National Post
2 days ago
- Business
- National Post
500 Global Taps UN SDG Architect, Dr. Alaa Murabit, to Launch Firm's New Offerings in Sustainable Growth
Article content Dr. Alaa Murabit, TIME100 honoree, Gates Foundation Alum, and global security leader, will lead 500 Global's Sustainable Growth practice in emerging markets, advancing the firm's commitment to increase blended finance and public-private investment models that unlock innovation and inclusive economic development. Article content SAN FRANCISCO — 500 Global, one of the world's most active venture capital firms 1, today announced the appointment of Dr. Alaa Murabit as Managing Partner of Sustainable Growth. She will oversee the firm's Sustainable Growth practice created to accelerate economic resilience by mobilizing capital and capabilities across climate, health and human development in frontier and emerging markets. Article content 'Too often, global capital reaches communities late — or not at all. We need to redesign financing systems that prioritize local innovation, share risk more equitably, and align investment with sustainable, inclusive outcomes.' 500 Global's Sustainable Growth practice aims to create financing strategies, educational programs, advisory platforms, and catalytic initiatives that bring together public, private, and philanthropic capital to deliver sustainable economic results. Article content A globally recognized expert in health, climate, sustainable development, and inclusive security, Dr. Alaa Murabit has shaped policies and financing that have impacted 193+ countries, played a pivotal role in the creation of the United Nations Sustainable Development Goals and mobilized over $25 billion in financing for global health, sustainability, and security. Dr. Alaa Murabit led Phase Minus 1, was CEO of IMPACT2030, and, most recently, created two innovative financing platforms and directed a $300M/year global portfolio at the Gates Foundation, leading maternal and child health, climate and health security, and innovation. Article content 'Economic development has always been an impact of the investments 500 Global has made, and we're delighted that Dr. Alaa Murabit has joined us to multiply that impact. Her appointment reinforces the growing global consensus that venture capital, when aligned with national priorities and de-risked through blended finance and public-private partnerships, can serve as a catalytic engine for inclusive growth and long-term development impact.' – Courtney Powell, COO & Managing Partner, 500 Global In an era marked by climate shocks, geopolitical volatility, and rising inequality, the need for resilient, inclusive economic systems has never been greater. Dr. Alaa Murabit's appointment signals a strategic shift in emerging markets: from fragmented, short-cycle investments to long-term value creation through blended finance, public-private alignment, and co-created national innovation infrastructure. Her leadership will expand 500 Global's ability to work with sovereign funds, governments, development finance institutions, and philanthropies to scale inclusive economic growth by de-risking investment and innovation. She will be based in Abu Dhabi, United Arab Emirates. Article content 500 Global has been committed to ecosystem development since 2010. Working closely with national allocators like Georgia's Information and Technology Agency and Sanabil Investments (a wholly owned subsidiary of Saudi Arabia's Public Investment Fund), the firm has embedded and developed its investment thesis by co-creating localized venture capital infrastructure to address local challenges and scale solutions globally. Article content In 2023, they launched the Rise Report, which highlighted 30 rise economies – the 30 largest, fast growing economies outside of the US and China – inclusive of Mexico, Egypt, Saudi Arabia, India, South Korea and more where 500 has had an ongoing presence. This report examined potential venture funding gaps; inviting allocators and policymakers to join forces toward the goal of accelerating global venture ecosystems that drive national development, economic growth and resilience. Article content With Dr. Alaa Murabit's appointment, 500 Global is doubling down, replacing fragmented development efforts with scalable public-private finance strategies, and building the enabling environment for sustainable economic transformation. Article content 'Too often, global capital reaches communities late — or not at all. We need to redesign financing systems that prioritize local innovation, share risk more equitably, and align investment with sustainable, inclusive outcomes. 500 Global is showing what's possible when we reimagine how capital serves both people and planet. I'm excited to lead and advance that vision globally.' – Dr. Alaa Murabit, Managing Partner, Sustainable Growth, 500 Global About 500 Global 500 Global is a multi-stage venture capital firm with $2.1B in assets under management 2 that invests in founders building fast-growing technology companies. We focus on markets where technology, innovation, and capital can unlock long-term value and drive economic growth and development. We work closely with key stakeholders and advise governments on how best to support entrepreneurial ecosystems and economic development in emerging markets. 500 Global has backed over 5,000 founders representing more than 3,000 companies operating in 80+ countries. We have invested in more than 35+ companies valued at over $1 billion and 150+ companies valued at over $100 million (including private, public, and exited companies) 3. Article content THE CONTENT IN THIS PRESS RELEASE IS PROVIDED FOR GENERAL INFORMATIONAL OR EDUCATIONAL PURPOSES ONLY. 500 GLOBAL MAKES NO REPRESENTATIONS AS TO THE ACCURACY OR INFORMATION CONTAINED HEREIN AND WHILE 500 GLOBAL HAS TAKEN REASONABLE STEPS TO ENSURE THAT THE INFORMATION CONTAINED HEREIN IS ACCURATE AND UP-TO-DATE, NO LIABILITY CAN BE ACCEPTED FOR ANY ERROR OR OMISSIONS. UNLESS OTHERWISE STATED IN THIS PRESS RELEASE, ANY PREDICTIONS, FORECASTS, CONCLUSIONS, VIEWS OR OPINIONS EXPRESSED REPRESENT THE CURRENT VIEW AND THINKING OF 500 GLOBAL WITH REGARD TO THE SUBJECT MATTER THEREIN BASED ON INTERNAL DATA AGGREGATED ACROSS ALL 500 GLOBAL FUNDS AS OF MARCH 31, 2025 AND/OR ANALYSIS WHICH HAS NOT BEEN INDEPENDENTLY VERIFIED, AND WHICH IS SUBJECT TO CHANGE AT ANY TIME. Article content UNDER NO CIRCUMSTANCES SHOULD ANY OF THE CONTENT IN THIS PRESS RELEASE BE CONSTRUED AS LEGAL, TAX OR INVESTMENT ADVICE FROM 500 GLOBAL OR ANY OF ITS AFFILIATES. 500 GLOBAL DOES NOT GUARANTEE ANY FUTURE RESULTS FOR ANY DECISIONS MADE BASED IN WHOLE OR IN PART ON THE CONTENT OR INFORMATION CONTAINED HEREIN. ALL READERS OF THIS PRESS RELEASE SHOULD CONSULT WITH THEIR OWN COUNSEL, ACCOUNTANT OR OTHER PROFESSIONAL ADVISORS BEFORE TAKING ANY ACTION IN CONNECTION WITH THIS PRESS RELEASE. Article content UNDER NO CIRCUMSTANCES SHOULD ANY INFORMATION OR CONTENT IN THIS PRESS RELEASE, BE CONSIDERED AS AN OFFER TO SELL OR SOLICITATION OF INTEREST TO PURCHASE ANY SECURITIES ADVISED BY 500 GLOBAL OR ANY OF ITS AFFILIATES OR REPRESENTATIVES. FURTHER, NO CONTENT OR INFORMATION CONTAINED IN THIS PRESS RELEASE IS OR IS INTENDED AS AN OFFER TO PROVIDE ANY INVESTMENT ADVISORY SERVICE OR FINANCIAL ADVICE BY 500 GLOBAL. UNDER NO CIRCUMSTANCES SHOULD ANYTHING HEREIN BE CONSTRUED AS FUND MARKETING MATERIALS BY PROSPECTIVE INVESTORS CONSIDERING AN INVESTMENT INTO ANY 500 GLOBAL INVESTMENT FUND. UNDER NO CIRCUMSTANCES SHOULD ANY CONTENT BE INTERPRETED AS TESTIMONIALS OR ENDORSEMENT OF THE INVESTMENT PERFORMANCE OF ANY 500 GLOBAL FUND BY A PROSPECTIVE INVESTOR CONSIDERING AN INVESTMENT INTO ANY 500 GLOBAL FUND. Article content Article content Article content Article content Media Contacts Article content Article content Article content
