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IFC Supports $400m Seven Energy Bond Issuances for Nigeria

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Jin-Yong Cai, Executive Vice President and CEO of IFC
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IFC, a member of the World Bank Group, has subscribed to $50 million of notes in the inaugural bond issuances by Seven Energy International Limited, one of the few companies developing and commercializing stranded gas that is critical for expanding Nigeria’s power generation.

Seven Energy is Nigeria’s first unlisted oil and gas company to tap the international capital markets.

The company’s bond issuances raised a total of $400 million. Part of the proceeds will fund the construction of the Oron‐Calabar pipeline which will provide much needed gas for power projects in the city of Calabar in southeastern Nigeria.

“Seven Energy welcomes and values the continued support of IFC in the development of its business in Nigeria. Seven Energy’s objective is to be Nigeria’s dominant integrated gas developer and supplier, with a reputation for reliability and operating to the highest international standards,” said Phillip Ihenacho, CEO, Seven Energy.

Lance Crist, IFC global head of Oil and Gas, said, “This inaugural bond complements Seven Energy’s funding strategy as it expands operations to help address Nigeria’s urgent energy needs. It has also attracted a new class of investors to the sector, showcasing the critical role of capital markets in connecting international and domestic savings to a country’s private sector financing needs.” 

Earlier this year, IFC made an equity investment of $75 million in Seven Energy. The IFC African, Latin American and Caribbean Fund also invested $30 million in equity in the company.

IFC’s investment in Seven Energy supports the World Bank Group’s Nigeria Energy Business Plan to double power capacity in Nigeria within 5 years by addressing all points of the energy value chain. IFC is also working on a wide range private sector projects in Nigeria’s gas supply, power generation and distribution sectors.

As part of its efforts to support the development of capital markets, IFC helps private sector companies in emerging markets to access international and domestic bond markets.


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Ghana Shines as Host of QNET’s Groundbreaking V-Africa 2025 Event

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Ghana took center stage as the host of QNET’s highly anticipated V-Africa 2025, a regional edition of the company’s flagship convention.

From February 20 to 23, 2025, the Accra International Conference Centre welcomed over 4000 participants from across the Sub-Saharan Africa region to experience four days of empowerment, networking, and innovation.

The convention spotlighted QNET’s exclusive product offerings, which provide immersive entrepreneurship training and contribute significantly to Ghana’s tourism and economic growth. V-Africa 2025 showcased Ghana as a hub for entrepreneurial excellence.

Trevor Kuna, Chief Marketing Officer for QNET, expressed his enthusiasm: “Hosting V-Africa 2025 in Ghana is a testament to our commitment to supporting entrepreneurs in Africa.

This event isn’t just about showcasing our brand—it’s about empowering individuals to achieve their dreams while contributing meaningfully to local economies. We look forward to welcoming media representatives to witness QNET’s transformative impact firsthand.”

Empowering Entrepreneurs, Celebrating Culture

The itinerary for V-Africa 2025 included product workshops, dynamic training sessions on business building and entrepreneurship, and an exhibition featuring QNET’s signature product brands, such as HomePure range of home care products, Amezcua’s wellness range, Swiss watch brand Bernhard H. Mayer’s new Collection, and more.

Attendees gained invaluable insights into QNET’s ethos of wellness, sustainability, and entrepreneurship, setting the stage for lasting business growth.

Biram Fall, QNET’s Regional General Manager for sub-Saharan Africa, elaborated on the event’s local significance: “V-Africa 2025 will leave a lasting legacy by empowering Ghanaian entrepreneurs and supporting Ghana’s tourism industry.

“This is more than a business convention—it’s a platform for connection, growth, and transformation.”

Driving Tourism and Economic Growth

As one of the largest events of its kind in Ghana, V-Africa 2025 attracted participants from 25 countries, providing a boost to the local hospitality, transportation, and tourism sectors.

QNET’s commitment to Ghana includes partnering with local stakeholders to ensure the event delivers long-term benefits to the community.


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FlashChange CEO Seeks Regulatory Clarity in the Blockchain and Cryptocurrency Industry

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L-r: Chief Executive Officer, FlashChange, Bidemi Oke; Chief Executive Officer, Eventhive and convener of Lagos Tech Fest, Jamiu Ijaodola; Head, Corporate Communications, FlashChange, Ememobong Udofot and Chief Marketing Officer, FlashChange, Jesujoba Ojelabi, during the Lagos Tech Fest event held recently in Lagos.
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FlashChange, a forward-thinking financial service company that is redefining how digital assets are traded and managed has recently participated at the Lagos Tech Fest, a two-day event that brought together key stakeholders, industry leaders, and tech enthusiasts to discuss the future of technology in Africa.

The CEO of FlashChange, Bidemi Oke made a strong argument for more transparent regulations in the blockchain and cryptocurrency industry at the event, where he stressed the necessity of structured legislation to promote innovation, safeguard investors, and propel economic progress.

Speaking during a panel discussion alongside other panelists on Crypto in Nigeria: Fintech Integration, Real-World Applications and Opportunities, Oke emphasised the difficulties companies encounter because of legislative ambiguity. He urged legislators to work with industry players to create rules that promote responsible expansion while guarding against abuse.

“The potential for blockchain and cryptocurrencies to transform finance and promote financial inclusion throughout Africa is enormous. However, companies and investors continue to have doubts about the industry’s future in the absence of clear regulations. We must develop a framework that strikes a balance between innovation and consumer protection,” Oke remarked.

As one of Nigeria’s top cryptocurrency exchange platforms, FlashChange, has been leading the charge to encourage secure and effective digital asset transactions. While maintaining adherence to international standards, the business keeps pushing for laws that encourage the expansion of the sector.

The Lagos Tech Fest provided a forum for thought-provoking conversations about how technology, finance, and regulation interact in Nigeria. Many industry participants who agreed that a methodical and forward-thinking approach to blockchain governance was necessary found resonance in Oke’s support for regulatory clarification.

 


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Visa Enhances Digital Wallet Experience with Tap to Add Card in CEMEA

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Visa has announced the launch of its new Tap to Add Card feature in Central Europe, the Middle East, and Africa, marking a significant advancement in digital wallet provisioning.

This innovative technology allows cardholders to add their Visa contactless cards to digital wallets with a simple tap on their mobile device, addressing the growing need for secure and streamlined digital payment solutions.

Tap to Add Card enhances security and convenience by eliminating the manual entry process, which is prone to errors and vulnerable to fraud.

The tap generates a unique, one-time code validated by Visa’s Chip Authenticate service, ensuring secure provisioning of card credentials and offering a significantly faster and more secure alternative to traditional methods.

“We are excited to bring the enhanced security and simplicity of Tap to Add Card to West Africa,” said Andrew Uaboi, Vice President and Head, Visa West Africa. “The solution provides cardholders with greater peace of mind when adding a card to a digital wallet, knowing their information is protected by advanced security measures.

“We believe that Tap to Add Card will be instrumental in driving further adoption of digital wallets in West Africa by addressing key security concerns and simplifying the user experience.”

Global Momentum and Regional Impact

The Tap to Add Card feature has quickly gained traction worldwide since its introduction last September by Visa, as part of its suite of new services aimed at enhancing digital payment experiences.

Benefits for the Ecosystem

Tap to Add Card is designed to benefit all stakeholders in the payments ecosystem. Cardholders can enjoy a faster, more convenient, and more secure way to add cards to their digital wallets, encouraging greater adoption of digital payments. For issuers, Tap to Add Card can help reduce the risk and associated costs of provisioning fraud, simplify the add-to-wallet process, leading to fewer customer service inquiries, and improve transaction approval rates.

Similarly, for digital wallets, Tap to Add Card follows Visa security standards, reducing the risk of card compromise and promising a potentially higher token provisioning rate due to fewer card entry errors, while also presenting the opportunity to introduce new customer experiences.

The technology is supported by digital wallets globally, ensuring seamless integration with existing digital wallet experiences.


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