PalmPay named fastest-growing financial services firm in Africa by Financial Times and Statista 2025. (Image source: PalmPay)

PalmPay, a leading digital finance and neobank platform serving emerging markets, has been named the fastest-growing financial services company in the Financial Times’ Fastest-Growing Companies in Africa 2025 list

Compiled in partnership with Statista, the list placed PalmPay at #2 overall out of 130 ranked companies.

The annual list highlights Africa-based firms that demonstrate strong performance across key metrics such as revenue growth, user base expansion, and operational scale. Between 2020 and 2023, PalmPay posted a compound annual growth rate (CAGR) of 583.6%, driven by its rapidly scaling suite of technology-driven financial services in Nigeria.

As of 2025, the platform has surpassed 35 million registered users, processing up to 15 million transactions daily, solidifying its role in driving the continent’s digital financial evolution.

“The Financial Times’ recognition of PalmPay as Africa’s fastest-growing fintech is a powerful validation of our approach to closing financial access gaps in underserved markets,” said Sofia Zab, founding chief marketing officer at PalmPay. “We’ve combined cutting-edge technology with localised innovation and distribution to build a leading neobank used by tens of millions to access payments, credit, savings, insurance and more. As we expand our ecosystem and enter more markets, we’re excited to continue supporting our users to achieve their financial goals, while accelerating growth for our partners.”

PalmPay’s model blends a user-centric digital financial superapp with a robust offline infrastructure of over one million merchants and agents, ensuring wide-reaching access even in traditionally underbanked regions. Its diverse offerings span money transfers, credit, merchant payments, savings, investment tools, insurance, and business services for MSMEs. It also supports B2B payment flows, easing collections and disbursements for African and global merchants serving the continent.

“Our growth is propelled by a clear vision: to empower businesses and individuals with frictionless, reliable financial tools,” remarked Jiapei Yan, group chief commercial officer at PalmPay. “We’re deepening partnerships across the fintech ecosystem to enhance payment infrastructure and foster a more connected African economy. As we scale, we remain focused on accessibility, innovation, and regional collaboration to drive the growth of digital economies in emerging markets.”

Since launching in 2019, PalmPay has played a transformative role in boosting financial inclusion and supporting the adoption of digital, cashless payments. On average, its customers perform over 50 transactions per month, engaging with both everyday payments and more long-term financial products, such as savings and insurance services. Notably, 25% of PalmPay’s users opened their first-ever financial account on the platform, marking its strong performance in integrating previously excluded communities into the formal financial system while maintaining frequent user engagement.

A comprehensive offering should provide durable labels and efficient printing options tailored to the specific needs of solar installations. (Image source: Brady Corporation)

Clear and durable component labelling on solar farms isn't just a regulatory tick-box; it's fundamental for passing inspections, ensuring on-site safety, and enabling efficient maintenance

Non-compliant or illegible labels can lead to failed inspections, delays in critical repairs, and increased risks for personnel.Adhering to standards like IEC 62548-1:2023, IEC 61730-1:2023, and IEC 62109-1:2010 is crucial for smooth project handover and long-term operational integrity. Brady brings to the market labels that are tested and verified to not only comply with applicable standards, but also withstand the conditions they are exposed to in installations over the long term.

Reliable identification solutions streamline your workflow and ensure compliance. Properly labelled PV modules, inverters, junction boxes, and cabling allow for quick identification during inspections, saving time and preventing potential roadblocks.

Clear labelling also enhances safety by providing immediate information for lockout/tagout procedures and troubleshooting. Furthermore, well-identified components enable maintenance teams to locate and address issues rapidly, minimising downtime and maximising system performance.

The reliability of your identification system should never be compromised.

All compliant solar farm identification labels are printed on Brady’s durable label materials, engineered to remain attached and legible for years, especially in demanding outdoor environments. These materials are designed to resist fading and peeling, ensuring long-term readability. Brady’s solar farm identification labels have undergone rigorous testing in their laboratories, including the IEC 61730-2:2023 durability test, confirming their resilience.

Choosing the right identification partner simplifies this critical aspect of solar farm development. Opting for solutions designed for the harsh outdoor environment ensures longevity and legibility of labels, even under extreme conditions.

A comprehensive offering should provide durable labels and efficient printing options tailored to the specific needs of solar installations.

By implementing compliant and robust identification practices, electricians and contractors can ensure successful project completion, improve site safety, and facilitate efficient long-term maintenance of solar farms.

Investing in durable and regulation-adhering labelling is a direct investment in the project's success and operational efficiency.

Download our free Guide to compliant solar farm identification for practical insights into effective solar farm labelling.This guide illustrates where specific identification labels should be applied and presents solutions for fast and accurate labelling in the field. Discover how to easily provide the right information to inspectors, first responders, and maintenance teams with compliant and reliable solar farm identification labels.

Discover more about identification solutions for Solar farms now.

EU and Botswana partner to boost digital skills, governance, and inclusion through strategic collaboration

The European Union (EU) and the Government of Botswana are set to formally launch the Digital Transformation Support Programme, a major initiative aimed at advancing Botswana’s transition into a knowledge-based economy

This initiative is part of the EU’s broader Global Gateway strategy, which seeks to strengthen smart, clean, and secure connectivity across the digital, energy, and transport sectors globally, while also enhancing systems in health, education, and research. Aligned with Botswana’s own digital ambitions, the programme underscores the robust and evolving partnership between Botswana and the EU.

The official launch, scheduled for May 6, will showcase key milestones already achieved through the EU-Botswana digital collaboration. It will also present the programme’s strategic goals: building digital skills and entrepreneurship, improving digital governance, and ensuring inclusive access to digital public services—especially for youth, women, and marginalised communities.

Drawing from Europe’s experience in digital governance, regulatory transformation, and entrepreneurial innovation, the programme has been tailored to align with Botswana’s specific development goals. Its implementation will be supported by Team Europe partners—France, Estonia, and Finland—who will provide technical know-how and investment to help power Botswana’s digital future.

The launch event will bring together high-level participants, including the ministers for state president, communication and innovation, senior government representatives, EU and Team Europe delegates, civil society actors, and private sector stakeholders—demonstrating a whole-of-society commitment to Botswana’s digital transformation journey.

James Saruchera, co-founder of Afrik. (Image source: Afrik)

As Africa races to position itself within the Fourth Industrial Revolution, the continent’s energy deficit continues to stall progress

While AI, cloud infrastructure and smart industry capture headlines, it is energy – reliable, accessible and decentralised – that underpins the viability of every digital innovation.

“Energy is no longer just a utility – it’s the bedrock of sovereignty in a digital world,” said James Saruchera, co-founder of Afrik, a decentralised finance infrastructure built to fund real-economy projects across Africa.

“We cannot talk seriously about AI readiness or smart manufacturing without first addressing the bottlenecks in energy access and financing.”

Saruchera, who recently attended the Global AI Summit on Africa in Rwanda, pointed to a growing consensus among African policymakers and innovators: without a radical rethink of how energy infrastructure is funded, the continent risks falling behind in the very technologies it seeks to lead.

Despite holding one of the world’s richest renewable energy profiles – including vast solar, hydro and geothermal potential – Africa remains hampered by traditional, centralised financing models that often prioritise external interests and short-term returns.

“The capital is out there. The technology is out there. What’s broken is the pathway between the two,” Saruchera said.

“Right now, we’re relying on legacy systems of financing that don’t match the speed or structure of our economies. They’re too slow, too opaque and too extractive.”

Afrik’s response has been to re-engineer the infrastructure around infrastructure.

By building a blockchain-based platform to facilitate secure, transparent investment into vetted energy and digital projects, Afrik enables both institutional and citizen investors to back infrastructure in a way that’s traceable, compliant and locally anchored.

“The premise is simple,” said Saruchera. “Africans should be able to invest in and benefit from the systems that will define their future. We’re not just solving for capital – we’re solving for trust, for ownership, and for longevity.”

Afrik’s model moves away from debt-heavy, donor-led development and towards pooled, participatory finance – where individuals, communities and institutions can collectively fund projects with full visibility over how money is spent and impact is delivered.

Crucially, Saruchera sees this as more than a tech play. It’s a policy tool.

“Afrik is already receiving strong engagement from innovation ministries, regulators and institutional funds that understand the need for alternatives,” he said.

“They know we need mechanisms that are fast, auditable and scalable – especially for midsize and off-grid projects that aren’t attracting enough traditional capital.”

Afrik’s pilot pipeline includes solar mini-grids, community-level battery storage and digital infrastructure – selected not for their PR value, but for their replicability and ability to bridge energy and data needs at the same time.

“We’re focusing on real utility, not vanity,” said Saruchera. “These are the kinds of projects that can support AI labs in Kigali, keep rural clinics online in Malawi, or power last-mile logistics in Lagos.”

Asked about the pace of adoption, Saruchera is pragmatic but optimistic.

“We’re not saying this replaces traditional finance overnight – but it complements it, fills gaps and builds systems of resilience from the ground up,” he said.

“What we’re proving is that Africa doesn’t have to wait for the world to catch up. We can build financing infrastructure that’s modern, agile and fundamentally designed for our own economic architecture.”

In an era where development models are being reimagined across the Global South, Afrik’s emergence reflects a broader shift: from dependency to design, from charity to capital, from exclusion to participation.

“Africa’s energy future will not just be green – it must be governed, funded and owned differently,” said Saruchera. “If we can fix how we finance our future, the rest will follow.”

Also read: Afrik ignites Africa’s borderless finance revolution with AI