ITC, UNCDF To Unlock Financing For MSMEs

The International Trade Centre (ITC) and the UN Capital Development Fund (UNCDF) today strengthened their partnership to promote sustainable finance solutions for micro, small and medium-sized enterprises (MSMEs).

 

ITC and UNCDF will focus on supporting businesses in frontier markets, emerging economies and least developed countries.

The heads of the two organizations signed a Memorandum of Understanding in Geneva, Switzerland, on the sidelines of the Building Bridges Summit, which aims to advance sustainable finance in Switzerland and across the globe.

The organizations will work together to unlock finance for MSMEs to help advance the UN Sustainable Development Goals. Priority areas include women’s economic empowerment through access to innovative financing, investment and markets; support of youth entrepreneurship, employment and vocational skills through investments and technical assistance; and boosting MSMEs’ ability to compete in local, regional and global markets. This last area will focus on innovation, digitalization and private sector development.

More on the partnership

The partnership looks to leverage the economic and financial capabilities of two United Nations entities. ITC supports sustainable and inclusive development by boosting the competitiveness of MSMEs, placing trade-led growth at the centre of public policy and building supportive business ecosystems in developing countries. For more information on innovative ITC partnerships, such as this one, see the ITC Partnerships4Purpose webpage.

UNCDF will leverage its singular role in the UN Development System as a hybrid development agency/development finance institution, offering a suite of finance capabilities, including grants, technical assistance, loans, guarantees, bonds and blended finance instruments.

Other areas of collaboration include supporting the UN Sustainable Development Cooperation Frameworks, which are instruments to plan and implement UN development activities at country level. ITC and UNCDF will also engage in joint resource mobilization efforts, especially at country level, to boost development support and investments in MSMEs.

Quotes

“Lack of access to finance is one of the top challenges that small businesses face – and that’s especially true in developing countries. Through this partnership with UNCDF, we’re targeting that challenge, so women and young entrepreneurs across the world have a chance to grow their businesses and enter new markets.” Pamela Coke-Hamilton, Executive Director, International Trade Centre

“UNCDF and ITC have already been partners in the areas of youth economic empowerment, confronting climate change and impact investment. This MoU is a natural extension of our previous work, and we are proud to work so closely with our sister UN entity. MSMEs are not only recipients of sustainable finance. They can also be engines of sustainable finance as well; for youth, for women, and for communities in frontier markets, emerging economies and LDCs. ITC and UNCDF are each distinctly capable of supporting Member Countries on their pathways to the SDGs. Together, we will make sure that impact capital for development will be on full display.” Preeti Sinha, Executive Secretary, UNCDF

REVEALED! How Dangote Wanted ‘Discreet Talks’ On Illegal Acquisition Of Obajana Plant

The Kogi State government has revealed how Dangote Group wanted discussions on the alleged illegal acquisition of Obajana Cement plant to be treated secretly. 

Recall that on Wednesday, the Kogi State Internal Revenue Services (KGIRS) sealed the Dangote Cement Factory, Obajana, following agitation by Kogi indigenes on the questionable circumstances surrounding the acquisition of the company.

The Kogi State House of Assembly ordered the closure of the company after its investigation into the cement factory’s operation allegedly revealed that no valid acquisition took place for the company.

The state House of Assembly alleged that Nigerian business magnate, Aliko Dangote, upon invitation by the State House of Assembly, requested for more time but did not appear at the house to show any evidence to the contrary.

Kingsley Fanwo, Commissioner for Information in Kogi State was quoted to have said: “Pursuant to the constitutional authorities of the Kogi State House of Assembly, and upon petition by the people of Kogi State, an investigation was carried out on the acquisition of Obajana Cement Company by Dangote Company.

“It was found that no valid acquisition took place, as Dangote could not show evidence of what was paid as consideration for the acquisition.

“The legislators invited the chairman of the company, Aliko Dangote, before the house for explanations but he failed to appear before the state assembly, giving excuses.

“The House of Assembly, therefore, ordered the closure of the company pending when they are able to present it with credible evidence of a valid acquisition.”

It is understood that the external solicitor of Dangote Cement Company, Leeman Salihu, had submitted some documents, which are a Certificate of Incorporation and an agreement signed in 2002 and 2003 but craved the indulgence of the house to allow other discussions on the issue to be out of the public glare.

He pleaded that the house should allow the company to engage in further conversation with it and the state economic team. The request was, however, declined.

The house insisted that Kogi State Cement Company could not have been transferred to Obajana Cement Company and then Dangote Cement Company 100 per cent without any consideration.

The Great Resignation: The Impact on APAC’s CXOs

75% of APAC’s business leaders will be looking for new career prospects in the following months

SINGAPORE – Media OutReach – 6 October 2022 – Sparked by the global pandemic, the Great Resignation has already been happening among the C-suite in Asia Pacific for the last 2 years. In latest studies from The Page Executive Asia Pacific Talent Trends 2022 Report – The Great X, there has been a wave of resignations amongst senior leadership in Asia Pacific as over one-third of leaders polled (36%) have been at their current jobs for not more than two years. Our research also found that 75% of leaders will be looking for new career prospects over the next few months. We have to prepare for the wave of resignations to intensify with the clear majority indicating a major talent migration event is upon us in coming months.

While salaries, bonuses and rewards are still top attraction motivators for all candidates, including those in leadership roles, our survey shows a big swing towards non-monetary motivators. These are becoming increasingly important to candidates when deciding on the company to join.

Shakura’s Miroko® Whitening Treatment is A 3rd Time Winner Of HerWorld Spa Awards

SINGAPORE – Media OutReach – 6 October 2022 – The Miroko® Whitening Treatment by Shakura has been crowned the Best Anti-Pigmentation Facial in Singapore 2022. This marks the third time it has won the coveted award from HerWorld since 2018.

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Sahir Berry, Bags Fintech Leader Of The Year Award

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Sahir Berry, CEO and Co-founder of NowNow Digital Systems, has emerged as the ‘Fintech Leader of the Year’ at the recently concluded 2022 Leaders in Fintech Awards.

 

Organized annually in Dubai by Entrepreneur Middle East, a leading market intelligence organization, the award recognizes top companies, technologies, and products in the global fintech market that have proven exceptional in areas of innovation, creativity and hard work.

 

Mr Sahir Berry was awarded the highest honour in acknowledgement of his innovative and leadership skills that have driven NowNow to deliver high-capacity services through its digital payments services, security innovation, and SME ‘Business in a Box’ solution; with the goal of boosting financial inclusion across Africa.

 

Expressing his gratitude and appreciation for being awarded such a prestigious honour, Sahir Berry said: “It brings me immense pleasure and honour to receive this distinguished award, on behalf of not only myself but the entire NowNow team. Since we began our journey, NowNow has championed innovation and operational excellence, working relentlessly to carefully construct a dynamic ecosystem of financial solutions, products, and services for our consumers.

           

We are thrilled to see our work and achievements being honoured for its innovative technology solutions, a clear testament to how much NowNow resonates with consumers, enterprises, and agents in pushing the boundaries of financial inclusion. As we go on, we promise to continue creating solutions spanning digital banking, personal finance, lending, payments, and investments that revolutionise our financial ecosystem,” he concluded.

 

The award comes a year after NowNow’s emergence as the “Best Mobile Fintech Solution” at the 2021 Leaders in Fintech awards, in recognition of its exceptional results in helping the financial services industry move forward through innovations with proven fintech solutions.

 

NowNow Nigeria is a mobile payment solution whose mission is innovating and creating the largest fintech ecosystem in Africa. NowNow seeks to bridge the gap between the banked and unbanked and to see that the use of cash and leather wallets are completely eliminated. NowNow is advocating and re-enforcing the need to use e-wallets as the wallet for the future, available on iOS and Android.

Deep Impact Hosts ‘Small Steps to Big Changes | 2-Day Event for Leaders’, Aimed to Equip Individuals with Effective Leadership Skills

SINGAPORE – Media OutReach – 6 October 2022 – Deep Impact will host ‘Small Steps to Big Changes | 2-Day Event for Leaders‘, a leadership and development training event, from 31st October 31 to 1st November 2022. The event features interactive activities and a panel discussion with industry expert Kenneth Kwan to equip attendees with the tools they need to grow as leaders.

The physical event is centred on ‘Small Steps to Big Changes’, a practical book that educates individuals on attaining success in both their professional and personal lives. Targeted at corporate professionals, attendees will discover strategies for achieving extensive results and creating the ideal life, team, and organisation. Attendees will also learn about their biases and how to deal with them to create a more inclusive workplace through a series of interactive exercises and discussions.

The training event led by Kenneth Kwan, the founder-cum-speaker, aims to drive change in professionals by collaborating with participants to develop quick strategies and practical solutions. The approach capitalises on the positive drivers of change by emphasising constructive goal orientation and what is currently effective. It also aims to foster possible thinking and enables individuals to move swiftly in that direction.

Having worked with a diverse clientele from varying countries and industries, Kenneth Kwan is a professional leadership speaker, high-performance strategist and consultant and advocate of success-oriented thinking for driving long-lasting transformation. With the speaker’s experience and knowledge, numerous virtual corporate conferences and training were conducted successfully. The book ‘Small Steps To Big Changes’ is the culmination of his client work for over a decade.

The event will be hosted by Deep Impact, a training provider based in Singapore that assists organisations in assembling high-performance teams through executive coaching and corporate training programs. Since 2007, they have been developing and deploying solutions that deliver positive outcomes. They also collaborate with clients to resolve practical business challenges and drive prolonged development. This is accomplished through their proprietary 5D Framework, in which they systematically identify and document organisational outcomes. The result is a detailed action plan and a collaboration with stakeholders to track and refine the program’s progress.

With ‘Small Steps to Big Changes | 2-Day Event for Leaders’, Deep Impact aims to equip individuals and teams to make small changes in their behaviour, which will lead to a big transformation in how they work. Tailored to Managers, Heads of Departments and Senior Leaders, the event will equip participants with the skills and resources needed to lead their team in achieving company goals and staying ahead of the competition.

For more information, please visit https://deepimpactonline.com/, and for more details on the book “Small Steps To Big Changes”, please visit https://smallstepstobigchanges.com/.

Hashtag: #DeepImpact

The issuer is solely responsible for the content of this announcement.

Daily Update: Amazon vs. Regulators – A Shifting Battlefield

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Amazon launched in 1995 as a startup with an unusual business plan – sell books online, rather than through bookstores.

The scrappy underdog has since transformed into a world-beating conglomerate and has drawn the attention (and occasionally the ire) of antitrust regulators. Amazon has responded to potential regulation much as it might respond to a challenger of its e-commerce or cloud hosting business — with energy and focus.

Now, the regulatory battles are shifting to the state level and Amazon is pivoting to meet the new challenge.

For years, Amazon has had a reputation as an unstoppable force that swallowed competitors and entire markets between quarterly earnings calls. The company has always disputed this characterization, attributing its success to low prices and a range of products to meet customer needs.

Regulators, responding to complaints from some of Amazon’s competitors, have taken a hard look at the company from an antitrust perspective. The key anti-competitive claim, according to S&P Global Ratings, is that Amazon’s private-label sales compete against and undercuts third-party sellers in its marketplace. Amazon has visibility into third-party seller data and uses it to inform its own private-label brand strategy.

In 2021, S&P Global Market Intelligence analyzed Amazon’s lobbying expenditure, finding that its lobbying costs had increased steadily every year since 2011. During the first quarter of 2021, Amazon spent an estimated $5.1 million on lobbying, according to the Center for Responsive Politics, a Washington, D.C.-based nonprofit that tracks money in politics.
“They know they are going to be regulated,” Alex Petros, policy counsel for nonprofit public interest group Public Knowledge, said at the time. “They are trying to grow, and at the same time, Congress is waking up to the power of dominant digital platforms.”

The American Innovation and Choice Online Act, a bill sponsored by Sen. Amy Klobuchar, D-Minn., and Sen. Chuck Grassley, R-Iowa, has stalled short of a vote on the Senate floor.

If the U.S. House of Representatives switches to a Republican majority during the upcoming midterm elections, it is unlikely that the bill will come to a vote. While Republicans are ambivalent toward Big Tech, their criticisms center on censorship rather than antitrust concerns.

With a divided federal government looking likely, state politicians are increasingly looking to their own laws and resources to take action, according to S&P Global Market Intelligence. California Attorney General Rob Bonta filed a lawsuit in September alleging that Amazon violated California business competition laws in requiring third-party sellers and wholesalers to offer the lowest prices for their products on Amazon.

Texas, New York and Colorado are also considering cases against the e-commerce giant.
Amazon has contested the claims in the California lawsuit. But it is looking increasingly like Amazon may be fighting a multifront and multistate battle with regulators.

Today is Thursday, October 6, 2022, and here is today’s essential intelligence.

– Written by Nathan Hunt.

Trend Micro Drives Double Digit Growth with Microsoft Azure

Cloud co-selling generates new growth opportunities in 2023 and beyond

HONG KONG SAR – Media OutReach – 6 October 2022 – Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, today announced strong growth momentum across multiple areas of collaboration with Microsoft Azure.

Kevin Simzer, Chief Operating Officer (COO) at Trend Micro, said, “We are a pioneer in cloud security and a trusted partner of Microsoft for 25 years, so we’re always looking for new ways to add value for our joint customers. As we continue to innovate, our collective mission to make the connected world more secure will help organizations manage cyber risk more effectively as they digitally transform.”

The cloud industry continues to see strong growth momentum. Trend Micro assesses its year-on-year opportunity growth on the Microsoft Azure platform to be 70% in 2022.

Jay McBain, Chief Analyst at Canalys: “Microsoft Azure is the fastest growing of the top public cloud providers, with a Q2 2022 growth of 40%[1]. As many organizations continue their digital transformation, cybersecurity is integral to that journey. Organizations must recognize the priority and invest in native cloud securities or partner services to ensure efficient and secure business operations.”

Thomas Grane, CIO/CHRO, Director of Technology and Organization, Matas, said, “I like to be ahead of the game, so as a company, we think about security very early. Trend Micro fits into that strategy well. Trend Micro puts much effort into connecting with us. That’s a very strategic move because that’s the only way to build a strong relationship.”

Trend Micro is a Microsoft Strategic 500 Customer and Global Gold ISV, with a strategy announced last year of building cloud-based security solutions on Microsoft Azure and generating new co-selling opportunities.

The latest such growth and collaboration areas include:

  • Enhanced capabilities for better visibility and attacked surface management through Trend Micro Vision One and Microsoft Sentinel integration.
  • Strong network security in both on-premises and cloud scenarios continues to provide excellent opportunities for co-selling.
  • Build on Microsoft Sentinel and Dynamic 365, Trend Micro Managed Service is set to list on Azure Marketplace and be ready for IP co-selling.
  • Streamlined industry solutions provide robust, streamlined cloud security to mitigate risk and support compliance across government, healthcare, finance, and manufacturing sectors.

Trend Micro currently has 12 listings on the Azure Marketplace, including seven IP co-sell ready, four transactable, and two MACC-eligible products.

Hashtag: #TrendMicro

About Trend Micro

Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro’s cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, the platform delivers a powerful range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 65 countries, Trend Micro enables organizations to simplify and secure their connected world.

eWTP Arabia Capital – Bridging Growth between China and MENA

SINGAPORE – Media OutReach – 6 October 2022 – eWTP Arabia Capital (eWTPA), a leading Saudi Arabia and China-based growth stage venture fund, invited Southeast Asia based LPs to a closed-door breakfast sharing session at the DealStreetAsia’s Asia PE-VC Summit 2022.

Asia PE-VC Summit one of the most popular events among the investment and startup communities. The Summit has attracted over 600 attendees from all over the world, who are all eager to explore new trends and sectoral bets in Asia’s constantly evolving markets against the pandemic backdrop.

Taking this opportunity, eWTPA has curated its closed-door high-level LP-only fireside chat session, together with Dealstreetasia.

Founded in 2019, eWTPA launched its first fund (Fund I) in same year, which is backed by the sovereign wealth fund of Saudi Arabia, Public Investment Fund (PIF) and eWTP Capital (Alibaba Group and Ant Finance Group). Within a short period of time, this US$400-million-fund has already invested into 16 companies across of digital infrastructure, core technology and platform, consumer and enterprise services which span enterprise services, cloud services, cyber security, fintech, cross-border supply chain, retail and consumer, e-commerce, logistics and digital entertainment and others, which are to work together and build a unique digital ecosystem in the Middle East and North African (MENA) region.

“When we first setup our base in MENA, Saudi Arabia is just opening its gate, as the country looks to transform from ‘an oil economy’ and to bring in technologies from the other side of the world, including China, where entrepreneurs and companies are seeking to expand globally,” said Mr. Jerry Li, Founding and Managing Partner of eWTPA.

Since eWTPA set foot at Saudi Arabia, its main goal is to build a healthy local corporate ecosystem in the country. When the country was first opening up, there was no infrastructure and no transparency. This is why eWTPA saw the gap that could be easily bridged up by bringing in matured Chinese technologies, enterprises and capital. The same apply to matured solutions in Southeast Asia.

“It is truly a golden time to invest in the MENA region,” said Mr. Li, who targets to help bridge the two economies with the support of LPs such as Alibaba Group and Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF). “Though regulatory challenge is one of the most difficult barriers for all companies that are looking to enter the MENA market, our expertise support and local knowledge will be able to help corporates build and grow their base in this growing market.”

Saudi Arabia is with rapid GDP growth of over 10% annually since the opening up of the country a few years ago. Since it is still a relatively young economy, it would require import of a lot of technologies to help build necessary infrastructure and a mature ecosystem. “Currently, the opportunities are primarily for large-scale corporates with more mature products and solutions, especially those that can benefit local governments and corporate clients,” Mr. Li concluded.

eWTPA brought in cloud and other technologies to help strengthen infrastructure locally. The company is also negotiating for free trade zones with the government with an aim to establish a healthy base for further future expansions.

Hashtag: #eWTPArabiaCapital

The issuer is solely responsible for the content of this announcement.

About eWTP Arabia Capital

eWTP Arabia Capital (“eWTPA”) is a growth stage venture fund based in Saudi Arabia and China backed by marquee investors – eWTP Capital and the sovereign wealth fund of Saudi Arabia, Public Investment Fund (PIF). eWTPA is focused on building a local digital ecosystem in MENA by partnering with market leading Chinese businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. eWTPA takes pride in its ability to offer comprehensive support to its portfolio companies, empowering them to explore and succeed in strategic markets across the MENA region.

Established in 2019, eWTPA is now the preferred partner for Chinese technology giants seeking to enter the MENA region. Through its US$400 million Fund I it has invested in 16 companies in the digital sector, 13 of which have already established themselves successfully in Saudi Arabia. Investments include the hugely successful Saudi Cloud Computing Company (“SCCC”) the kingdom’s leading provider of cloud Services and J&T Logistics, which is now the fastest growing logistics provider in the country.

The fund’s core investment strategy is to transfer the latest technology and proven business models from China and Asia more broadly in order to fill a clear gap in its target MENA market. eWTPA focuses on the sectors of digital infrastructure, core technology and platform, consumer and enterprise services which span enterprise services, cloud services, cyber security, fintech, cross-border supply chain, retail and consumer, e-commerce, logistics and digital entertainment. To eWTPA, success is the ability to drive capital appreciation and to help elevate the digital eco-system in the MENA region.

Epicor Acquires MES Provider eFlex Systems, Expanding Industry 4.0 Capabilities to Modernize Manufacturing Production Processes

HONG KONG SAR – Media OutReach – 6 October 2022 – Epicor, a global leader of industry-specific enterprise software to promote business growth, today announced it has acquired eFlex Systems, a provider of cloud-based Manufacturing Execution System (MES) technologies. The acquisition expands the Epicor portfolio of Advanced MES capabilities to help manufacturers increase productivity by modernizing their production environments through digital work instructions, advanced process control, and real-time visibility. Financial terms were not disclosed.

“I am thrilled to bring eFlex Systems into the Epicor family! Shop floors are a complex intersection of people, machines, robots, and materials, and it’s critical they work seamlessly together,” said Epicor CEO Steve Murphy. “People will continue to be at the heart of manufacturing, and our acquisition of eFlex Systems extends our ability to give Epicor customers the information they need to improve the user experience and unlock new levels of productivity.”

The eFlex Systems Manufacturing Integrated Platform (MIP®) enables manufacturers to manage and visualize global operations in real time, connecting devices, sensors, and machines with people to help operators build the right part, with the right tool, at the right setting in a safe and repeatable way. This helps manufacturers solve labor challenges by simplifying tasks and extending workers with connected devices which improves productivity.

Epicor customers will be able to digitize processes through operator guidance, alerts, traceability, and data collection at the individual task level. Workstations can be configured and connected to their environments through open protocols and tools such as RFID, MQTT, and Node-RED, enabling operators to seamlessly leverage IoT devices such as DC tooling, barcode readers, weight scales, pick lights, PLC’s, and others to complete the task at hand.

“We’ve always been focused at eFlex Systems on helping customers reimagine manufacturing through sustainable, world-class production processes,” said eFlex CEO Dan McKiernan. “By joining with Epicor, we’re furthering our mission to modernize manufacturing and bridge the data gap with cost-effective, easy-to-use solutions that drive efficiencies and throughput.”

Hashtag: #Epicor

About Epicor

Epicor Software Corporation equips hard-working businesses with enterprise solutions that keep the world turning. For nearly 50 years, Epicor customers in the automotive, building supply, distribution, manufacturing, and retail industries have trusted Epicor to help them do business better. Innovative Epicor solution sets are carefully curated to fit customer needs and built to respond flexibly to their fast-changing reality. With deep industry knowledge and experience, Epicor accelerates its customers’ ambitions, whether to grow and transform, or simply become more productive and effective. Visit for more information.

Epicor and the Epicor logo are trademarks of Epicor Software Corporation, registered in the United States and other countries. Other trademarks referenced are the property of their respective owners. The product and service offerings depicted in this document are produced by Epicor Software Corporation. Results are not guaranteed, and each user’s experience will vary.