HONG KONG SAR – Media OutReach – 30 August 2022 –The 2nd International Property Management and Procurement Expo (” PropEx” ) opens today at the Hong Kong Convention and Exhibition Centre and is held until 1 September. Organised by Comasia Limited, the three-day expo has a robust lineup of exhibitors. 445 booths showcase an array of IoT, Big Data and Artificial Intelligence property management products and services, ranging from comprehensive environment and hygiene solutions, smart security system to solutions for green and energy conservation, building and facilities treatment, etc.
HONG KONG SAR – Media OutReach – 30 August 2022 – Kerry Logistics Network Limited (‘Kerry Logistics Network’ or together with its subsidiaries, the ‘Group’ or ‘KLN Group’; Stock Code 0636.HK) today announced the Group’s interim results for the six months ended 30 June 2022.
Group’s Financial Highlights
Revenue increased by 39% year-on-year to HK$48,034 million (2021 1H: HK$34,654 million*)
Core operating profit increased by 74% to HK$3,461 million (2021 1H: HK$1,993 million*)
Core net profit jumped by 96% year-on-year to HK$2,372 million (2021 1H: HK$1,212 million*)
Profit attributable to the Shareholders for 2022 1H was HK$2,377 million, which represents a year-on-year growth of 118% (2021 1H: HK$1,092 million*). Year-on-year drop is 30% if profit from discontinued operations in 2021 1H is also included
Integrated Logistics (‘IL’) business recorded a segment profit of HK$717 million (2021 1H: HK$560 million), which represents an increase of 28%
E-commerce and Express (‘E&E’) business recorded a segment loss of HK$393 million (2021 1H: profit of HK$209 million)
International Freight Forwarding (‘IFF’) business recorded a segment profit of HK$3,398 million (2021 1H: HK$1,416 million), which represents an increase of 140%
Interim dividend of 28 HK cents per Share to be payable on or around Friday, 30 September 2022
* Excluding discontinued operations
William MA, Group Managing Director of Kerry Logistics Network, said, “Despite ongoing uncertainty in the wider global economy and stress within the supply chains, KLN Group reacted quickly and provided innovative solutions to meet our customers’ needs. We had also taken advantage of the opportunities arising from global supply chain reshuffling and delivered another record set of results. Comparing continuing operations, the Group’s revenue and core operating profit registered growth of 39% and 74%, respectively. Our core net profit almost doubled from HK$1.2 billion to HK$2.4 billion.”
Segmental Reporting
During the period, the Group adopted a new segmental reporting by carving out the E&E related business from the IL division as a standalone business segment, reflecting the internal management and different strategies of the two segments. The new reporting will provide a clearer picture for stakeholders to review the performance of different operations within the Group.
Integrated Logistics
The segment profit of the IL division in Asia reported strong growth on the back of reopening of borders across countries, easing of COVID-19 restrictions and a pickup in manufacturing and domestic consumption in 2022 1H. Nevertheless, the pandemic prevention and lockdown measures in the Mainland of China have curtailed manufacturing activities, causing an 11% drop in IL business segment profit in the Mainland of China during the period.
E-commerce and Express
Performance of the E&E segment contracted as Kerry Express Thailand (‘KETH’) in Thailand was caught in a price war during 2021 2H and 2022 1H. Nevertheless, losses have started to narrow since May 2022 and KETH is expected to come close to breakeven by the end of 2022.
International Freight Forwarding
The IFF segment remained as the growth driver of KLN Group and delivered a segment profit growth of 140% in 2022 1H. Greater China, including Hong Kong, contributed 28% and ex-Greater China contributed 72% of the total segment profit. The core base of the IFF business maintained its focus on Asia’s export market. The segment also added Topocean as a new member of the Group in April 2022, further strengthening the Group’s capabilities to capture new growth in the Trans-Pacific trade lane.
William Ma concluded, “The pandemic’s knock-on impact continues to weigh on the global economy while geopolitical tensions had already been dragging down consumer confidence and production. Due to ongoing uncertainty, we expect to face a tougher second half year. However, we remain optimistic about the Group’s full-year performance for our continuing operations. Thanks to our strong Asia-based position as well as customised and comprehensive logistics solutions, we have proven our ability to turn crises into opportunities and enable our clients to adapt to new challenges. Moreover, the momentum we have created with S.F. Holding allows us to enter new markets and capture cross-selling opportunities. Going forward, KLN Group’s business is expected to benefit in terms of scale, coverage and capabilities through further integration and synergies between the two companies.”
Hashtag: #KerryLogisticsNetwork
The issuer is solely responsible for the content of this announcement.
About Kerry Logistics Network Limited (Stock Code 0636.HK)
Kerry Logistics Network is an Asia-based, global 3PL with a highly diversified business portfolio and the strongest coverage in Asia. It offers a broad range of supply chain solutions from integrated logistics, international freight forwarding (air, ocean, road, rail and multimodal), industrial project logistics, to cross-border e-commerce, last-mile fulfilment and infrastructure investment.
With a global presence across 59 countries and territories, Kerry Logistics Network has established a solid foothold in half of the world’s emerging markets. Its diverse infrastructure, extensive coverage in international gateways and local expertise span across the Mainland of China, India, Southeast Asia, the CIS, Middle East, LATAM and other locations.
Kerry Logistics Network generated a revenue of over HK$81 billion in 2021 and is the largest international logistics company listed on the Hong Kong Stock Exchange.
SHENZHEN, CHINA – Media OutReach – 30 August 2022 – Global leading technology company OPPO today announced a new partnership with popular audio streaming platform Spotify, to create an all-new simple and customizable music experience on OPPO smartphones through its latest ColorOS 13 Android-based Operating System.
In-built Spotify Card in Shelf in ColorOS 13
Home Screen Widgets: The Spotify widget can also be added to the ColorOS 13 home screen to provide quick and easy access to the Spotify app.
Spotify alarm integration in the ColorOS 13 Clock app
“Our partnership with Spotify represents a new exploration into the possibilities of smartphone operating systems,” said Gary Chen, Head of OPPO Software Product. “Through smart, convenient, and human-centric features developed with our partners, we are bringing a more intelligent and efficient operating system to users, enabling them to spend more time enjoying music and the other most-loved features on the OPPO smartphones.”
Ian Geller, Global Head of Consumer Business Development at Spotify said, “At Spotify, we’re always working to offer our users the best listening experience out there. Through our partnership with OPPO, we aim to elevate the Spotify experience through OPPO ColorOS 13’s smart and human-centric features, delivering value for existing and new consumers of both brands”.
ColorOS 13 is the latest Android-Based Operating System from OPPO. Designed for simplicity and comfort with its Aquamorphic Design, ColorOS 13 features a series of smart and intelligent features that include Multi-Screen Connect, Meeting Assistant, Smart AOD, and Home Screen Management. Based on the Android Operating System, ColorOS provides exclusive, intelligent and user-friendly experiences to over 500 million global monthly active users. It is available in 67 languages, including English, French, Spanish, and Hindi.
[1] Spotify alarm integration in the ColorOS 13 Clock app will be available with further OTA updates after September 15th.
Hashtag: #OPPO
About OPPO
OPPO is a leading global smart device brand. Since the launch of its first mobile phone – “Smiley Face” – in 2008, OPPO has been in relentless pursuit of the perfect synergy of aesthetic satisfaction and innovative technology. Today, OPPO provides a wide range of smart devices spearheaded by the Find X and Reno series. Beyond devices, OPPO also provides its users with ColorOS operating system and internet services such as OPPO Cloud and OPPO+. OPPO has footprints in more than 60 countries and regions, with more than 40,000 employees dedicated to creating a better life for customers around the world.
About Spotify
Spotify transformed music listening forever when it launched in 2008. Discover, manage and share over 80 million tracks, including more than 4 million podcast titles, for free, or upgrade to Spotify Premium to access exclusive features for music including improved sound quality and an on-demand, offline, and ad-free music listening experience. Today, Spotify is the world’s most popular audio streaming subscription service with 433m users, including 188m subscribers, across 183 markets.
BANGKOK, THAILAND – Media OutReach – 30 August 2022 – AOC reinforces its position as the No. 1 market share for gaming monitors (100Hz and above) for the third consecutive year in the IDC Quarterly Gaming Tracker Q4 2021 Global Rankings. First to take the top spot in 2019 and and have remained a leader for the past 3 years. Rise up in the battlefield of AOC Masters Allstar 2022, a phenomenon between KOLs versus Influencers from 12 countries and regions, including Australia and New Zealand,Taiwan, Singapore, Thailand, Philippines, Malaysia,Indonesia, Japan, Korea, Hongkong and Vietnam will come to fight with the game Apex Legend. This event, the audience will meet famous KOLs and Influencers such as ‘Judyxlive’ and ‘Nutsurusama’ from Thailand, ‘Schaa Channel’ and ‘Buzz Da Great’ from Malaysia, ‘Dewa United’ and ‘Salvatorez’ from Indonesia, including ‘RebelsSquad’ and ‘Wolfsbanee’ from Singapore.
www.facebook.com/AOCMonitorAsiaPacific/.
2,000 digital specialists across Asia Pacific in place to support client demand for digital first services and innovation
SINGAPORE – Media OutReach – 30 August 2022 –NCS today announced that NEXT, its digital services arm which offers clients deep-tech capabilities and end-to-end digital services, has grown to scale in key markets in the two years since embarking on its growth strategy to regionalise and expand its business beyond Singapore. With a fivefold increase in headcount since 2019, NEXT has become a 2,000-strong team of digital specialists across 18 specialisations in Asia Pacific, well-placed to help clients accelerate digital transformation and leverage emerging technologies such as metaverse and responsible artificial intelligence (AI) for innovation breakthroughs.
Grey (https://Grey.co), a fintech started by two Nigerians to simplify sending and receiving foreign payments for Africans, has raised $2 million in seed funding. The service offered by Grey enables its customers to have virtual international bank accounts for free and enjoy a seamless foreign payment process.
“Grey (https://Grey.co) was founded in 2021 to empower people to live a location-independent lifestyle,” CEO of Grey, Idorenyin Obong, says. “I believe that the least of your worries as a freelancer, remote worker, or digital nomad should be sending or receiving payments, so we’ve made it easy. We like to say that we’re on a mission to make international payments as easy as sending an email. We want to do impactful work to improve how Africa as a continent interacts with money across its borders. I am delighted that we’ve acquired an extensive and fiercely loyal user base.”
On Grey, you can create a foreign USD, GBP, and EUR bank account for free, send money to the UK and Europe, and receive payments from over 88 countries. The company also offers conversion directly to your local currency so that you can spend it easily on the app. Grey allows users to receive foreign payments in their preferred foreign currency and withdraw directly to mobile money or their local bank account.
In addition to the funding announcement, Grey also announced Its expansion into East Africa, starting with Kenya, and partnerships with payments giant Cellulant and ed-tech leader Moringa. Traveling to Kenya is much easier with Grey (https://bit.ly/3Q5bCyY) because you can pay vendors directly to M-pesa.
For example, suppose you’re a traveller on a trip to Nairobi. In that case, you can convert any supported currencies to Kenyan Shillings and pay for services directly to M-Pesa, or other mobile money accounts. Grey is the easiest way to send money abroad and between African countries. The company plans to expand into more East African countries in the coming months. It has included support for Ugandan Shillings on the app, bringing the total number of supported currencies to six. This addition means that Grey customers in Nigeria and Kenya can send money to mobile money accounts in Uganda.
The company has also privately launched Grey Business to several companies. COO Femi Aghedo says, “Sending money worldwide is not just an individual problem; it affects African businesses too. Over the last two months, we’ve onboarded several African businesses to our private beta. Honestly, when I listen to the feedback about how much we’ve simplified a previously complex process, it pushes us to do more.”
Grey’s seed funding round included participation from Y Combinator, Soma Capital, Heirloom Fund, True Culture Fund, angel investors Alan Rutledge, Samvit Ramadurgam, Karthik Ramakrishnan, and other high-profile investors.
According to the CEO, Idorenyin Obong, with this new round of capital, they plan to launch into new markets and extend their product suite to include not just remittances but also person-to-person and business-to-business payments so every African can enjoy seamless cross-border payments with low fees.
HONG KONG – Media OutReach – 30 August 2022 –Hong Kong welcomes a new title today in the city’s luxury media market. With the launch of Robb Report Hong Kong and its official website, Nexus Media Limited will publish the esteemed print magazine annually alongside daily digital content, presenting a definitive guide to lifestyle and luxury.
Robb Report carries an unrivalled global reputation for reporting on lifestyle with authority and discernment. Robb Report Hong Kong is dedicated to featuring all aspects of luxury, primarily focusing on automobiles, aviation, and boating, alongside coverage of real estate, travel, dining, whiskies, wine, watches, jewelry, and fashion.
Above and beyond any other luxury enterprise or venture, Robb Report is known for its grand events, creating tailor-made experiences for its VIP readers and clientele. From first-look previews to private evenings and sojourns, Robb Report readers are provided with unparalleled access and benefits that truly speak to living life to the fullest.
“Robb Report Hong Kong is unlike any other magazine you’ll see on newsstands,” says Tak Man, Chief Executive Officer and Director at Nexus Media Limited, who brings the title to market. “We are about creating unique experiences, hand-picked from around the globe to feature only the very Best of the Best—an integral theme in our magazine. What’s extraordinary about this launch in Hong Kong is that our readers will get to experience tailored, specially curated events, the likes of which many have never seen or experienced before.”
Robb Report Hong Kong’s print magazine, Best of the Best, is an annual publication that promises to be the definitive tome on luxury and lifestyle in Asia. With a massive online and social media presence, the signature events that complement the features on the official website and print magazine makes this an exciting venture like no other in the region, staying true to its motto: Luxury without Compromise.
Be it Signature Events or Tailored Events, join Robb Report Hong Kong as we travel to exotic destinations for unparalleled experiences.
Car of the Year has been a staple in Robb Report’s calendar for the past two decades. Each year, readers participate in a fresh experience at a new location with extraordinary cars of the moment. A carefully selected and well-informed panel of judges will shortlist the supercars as nominees for Car of the Year, and our event will be capped off with a grand gala dinner featuring an exclusive VIP guest list and the announcement of the Car of the Year nominees. This lavish event will premiere in Hong Kong in the first quarter of 2023.
Ultimate Drive takes readers on an annual pilgrimage that will appeal to the most passionate of auto enthusiasts. To add to the beautiful displays of automotive excellence, participants are treated to behind-the-scenes tours and access, exclusive drive experiences, and model previews with the top automotive marques in the world, as well as private celebrations with superlative luxury brands that only Robb Report can provide. This multi-day extravaganza is one that true auto enthusiasts and collectors mark on their calendar every year.
Each year, Robb Report bestows its Best of the Best awards on the very finest luxury products, services, and experiences that the world has to offer. A select group of readers will gather together for a private celebratory dinner to toast the Best of the Best winners.
For the epicurean, the hottest ticket in town is Culinary Masters. Join Robb Report and an incredible line-up of Michelin-starred luminaries for an unforgettable weekend of gourmet dining experiences, exquisite wine pairings, intimate culinary classes, and a friendly golf tournament with your favorite chefs, all surrounded by magnificent views.
And finally, the year is capped off with Dream Machines. Robb Report’s Dream Machines: Land & Air makes its debut in Hong Kong, presenting readers with an elite experience featuring the latest machines, wings, and wheels for a fun, adrenaline-driven adventure. Test-drive the newest luxury cars, enjoy epic helicopter tours over the city, and indulge in exceptional dining, world-class wines, and fabulous accommodations.
In Hong Kong, a hybrid of both curated experiences and programmes will be created for Robb Report readers on an international scale.
A Brief History
The first edition of Robb Report hit newsstands in the United States back in 1976, originally devoted to advertisements for new and vintage Rolls-Royces by founder Robert L. “Rusty” White. The original “Robb” distributed his newsletter to members of the Rolls-Royce Owners Club, and he provided a suede three-ring binder to paying subscribers, setting a standard of effortless elegance from the get-go.
The brand evolved over the course of four decades to become what it is today: the single most influential journal of living life to the fullest, with 18 international editions in 10 languages spanning 28 countries across the globe.
The Hong Kong edition is the nineteenth title in the franchise, highlighting not only the finest aspects of life and luxury in the world, but putting a spotlight on what’s rising from the East, consumers of note, cognoscente of luxury, and experiences like no other.
For all of the changes that have taken place in the years since Robb Report first hit newsstands all those years ago, the standards of exceptional quality, beauty, and precision have remained constant in the hearts and minds of true connoisseurs who have subscribed to the publication since its nascent stage.
In Hong Kong, the publication of its annual, Best of the Best, is anticipated to hit newsstands in the first quarter of 2023. A mighty tome limning the finest products and services, Best of the Best will be accompanied by the official website, dedicated to providing daily updates on what’s happening in the world of luxury across all digital platforms.
Robb Report is the leading voice in the global luxury market, synonymous with affluence, luxury, and the best of the best. Its discerning audience around the world has a shared appreciation and desire for quality, exclusivity, heritage, taste, and fine design. It is the brand the most successful people rely on to discover the ideas, opinions, products, and experiences that will matter most to them.
Robb Report: Luxury Without Compromise.
Hashtag: #RobbReportHongKong
About Robb Report Hong Kong
Robb Report Hong Kong is part of Nexus Media Group, a company celebrating its tenth year in Hong Kong. The bold title joins a roster of expert curated content creation platforms and media titles that includes Nexus Media, Localiiz, WeeGo, MyLocals, and Nexus Digital.
SINGAPORE – Media OutReach – 30 August 2022– New global research by Harvard Business Review Analytic Services commissioned by SAP SE (NYSE: SAP) has found that more than nine in ten (92%) of businesses in Asia Pacific (APAC) say that an adaptive culture and continuous employee upskilling is very important, though only 30% say their organisation is very prepared for unexpected changes or disruptions.
This is particularly important as APAC businesses increase their investment in people (62%), business processes like innovation or services (69%), and operations (43%) over the next year.
“Rarely in the course of history have so many disruptions affected so many businesses at the same time,” said Cathy Ward, Chief Operating Officer, SAP Asia Pacific and Japan. “Unforeseen challenges and new priorities, from supply chain resilience to sustainability, are putting pressure on companies to adapt. What this report shows is that, while agility and resilience are critical to prepare for the future, there’s still no single way to anticipate the changes the future will bring.”
These insights have been revealed in a new report released today, which explores the impact of planning and anticipation of the future on business success. The report, ‘Anticipating the Future for Growth and Innovation‘, surveyed 442 global organisations across Asia Pacific, North America, and Europe.
Strategic planning focused on short-term horizons
Globally, businesses are strongly focused on strategic planning, many are working to relatively short-term horizons. Almost three quarters (73%) of organisations say they plan for between one and five years into the future. Just one in five (20%) of respondents say their planning horizon is more than five years out.
The research also found that organisations share a few common priorities when planning. The top four priorities respondents selected were revenue growth and improving profit margins (55%), finding new customers, markets, and growth areas (51%), product and service innovation (47%), and retaining and attracting talent (46%). While APAC and other respondents across the globe are mostly aligned on priorities, one difference is in building a more resilient business ecosystem which was selected by more APAC respondents (42%) than respondents from the rest of the world (29%).
Agility and talent are key obstacles to anticipating the future
Despite the priority on anticipating the future, there remain critical challenges many businesses face when planning. Slow decision-making was identified as the biggest challenge by APAC respondents (38%) when anticipating the future, while attracting the right talent (36%) and retaining staff (36%) were both raised as key issues.
Another problem identified by many APAC companies was a hierarchical disconnect when it came to planning. A third (32%) of businesses said that lower-level employees not being involved in planning was a core problem. That may be because the more senior a role, the more they’re encouraged, and rewarded, to have a proactive mindset and think about the future.
“Executives in APAC are much more encouraged (80%) and rewarded (55%) to have a proactive mindset about the future than most other roles,” continued Ward. “But while leaders are integral to building a future-ready business, they cannot do it alone. That’s why one of the most important steps a leader can take as they move towards becoming what we call the Chief Anticipation Officer is creating a culture of collaborative planning and forward-thinking mindset across the organisation.”
Investment in organisational culture is essential to plan for multiple different futures
The culture a business nurtures and maintains has a disproportionately large role on success in planning for the future. Globally, more than half (57%) of respondents said that creating a culture that embraces change is an important organisational factor in anticipating the future – the most-selected response.
But building that culture requires a focus on talent acquisition, engagement, and upskilling. Organisations are placing high importance on the ability to attract new talent with needed skills (globally at 59%), aligning employee skill sets with the right roles and responsibilities (59%), and the ability to upskill current employees (56%).
The survey also found that technology and digital infrastructure are on the minds of many executives, though they may not be organisations’ top focuses. Strong digital infrastructure and cybersecurity skills (42%) was noted as the fourth most-cited answer when asked which skills and competencies most help organisations plan for the future. Additionally, lacking the technology an organisation needs for the future is also an important challenge to anticipate the future for APAC respondents (32%).
“This moment in time is an incredible opportunity for businesses to look to the future,” concluded Ward. “Continuous change demands flexible, forward-thinking action in three critical areas: how people will work, how we will do business, and how we will operate our organisations. By focusing on these areas, we can break away from traditional methods, better anticipate what’s coming next, and begin to drive new, successful outcomes in the future.”
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About SAP
SAP’s strategy is to help every business run as an intelligent, sustainable enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: SAP customers generate 87% of total global commerce. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers’ businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want – without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people’s lives. For more information, visit www.sap.com.
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The government of Japan and the African Development Bank have announced a $5 billion financial cooperation under the fifth phase of the Enhanced Private Sector Assistance for Africa initiative (EPSA) from 2023 to 2025.
The announcement was made at the Eighth Tokyo International Conference on African Development (TICAD8) held Sunday 28 August 2022 in the Tunisian capital, Tunis.
The funds consist of $4 billion under the existing window, and an additional up to $1 billion that will be provided under a new Special Window. Japan will establish this Special Window to support countries that are making progress in the enhancement of debt transparency and sustainability, and other reforms, thereby making steady and significant improvement in their debt situations.
Given the importance of food security, Japan and the African Development Bank will add agriculture and nutrition as a priority area under EPSA 5. As a result, EPSA 5 will cover 1) electricity, 2) connectivity 3) health, 4) agriculture and nutrition as priority areas in order to address key challenges in Africa.
At the EPSA 5 launch ceremony, Japan’s Vice-Minister of Finance for International Affairs, Mr. Masato Kanda, said his country is committed to supporting African countries while respecting their own initiatives.
The President of Japan International Cooperation Agency (JICA) Dr. Akihiko TANAKA said, “Under the severe situation caused by multiple crises, enhancing resilience and promoting human security are critical components of Japan’s support for Africa. EPSA is an essential element of our partnership with the African Development Bank to tackle social and economic challenges facing the continent. JICA commits to work with EPSA to create a bright and prosperous future.”
The African Development Bank Group President Dr. Akinwumi Adesina said, “EPSA 5 is the kind of cooperation Africa and the world needs. Escalating climate change impacts, the Covid-19 pandemic, and the war in Ukraine means that we must do even more than we already have done, to mobilize the private sector and create job opportunities in Africa. The newly signed initiative will positively impact millions of lives across Africa.”
Japan and the African Development Bank will join forces to support countries that address enormous challenges, including food security, climate change, health, digitalization, and debt issues.
Anchor a banking-as-a-service (BaaS) platform making it possible to seamlessly build financial products in Africa announces its public beta launch. The startup was also accepted into Y Combinator Summer 2022 Batch as the first African BaaS and embedded finance platform.
In recent years, there have been several reports about the size of the Africa financial inclusion opportunity , particularly in reference to the provision of digital financial services.
These reports have brought about a spike in the number of companies and amount of investment activities in the fintech space in Africa. Yet, two things stand out; the minimal impact on financial inclusion, and the persisting difficulty in building and launching a fintech company on the continent.
For context, financial exclusion in Nigeria decreased by only one percent, from 37% in 2018 to 36% in 2020. Also, today, across Africa it takes an average of $500,000 and 18 months to build and go-to market with financial products. This is because companies need to go through the hurdles of rigorous licensing and compliance processes, multiple integration layers, complex banking and third-party relationships, and invest in complicated core-banking infrastructure.
Anchor is launching its public beta API infrastructure to make it easier for African businesses to build, embed and launch financial products, starting in its first market, Nigeria.
Founded by Segun Adeyemi, ex-CEO of Amplifypay, Olamide Sobowale and Gbekeloluwa Olufotebi, Anchor provides API for offering accounts, money movement, savings and card products.
“We built Anchor to abstract away the complexities in building financial products, so businesses can get started in five minutes with a few lines of code”, says Anchor’s CEO, Segun Adeyemi.
In May, Anchor released its private beta working with innovative start-ups like Outpost Health, Dillali, and Pivo. The BaaS platform has transacted millions, growing over 200% MoM, and is now set to launch its public beta for African businesses to embed finance into their offerings and for fintechs to build banking products. Already, the company has more than 40 other startups on its waitlist.
Anchor has raised over $1 million in pre-seed funding from Byld Ventures, Y Combinator, Luno Expeditions, Niche Capital, Mountain Peak Capital, and a host of angel investors including Emmanuel Okeleji (CEO, SeamlessHR), Ado Oseragbaje, Yinka Odeleye, and Sanmi Famuyide.
According to Ashutosh Desai, a Partner at Y Combinator, “Anchor’s embedded finance platform enables technology companies in Africa to build products that can rapidly expand access and improve quality of financial services. We’re excited to back Segun, Olamide, and Gbeke – a highly technical and experienced team – in building financial infrastructure that’s essential for Africa’s economic growth.”
“I believe BaaS will play a prominent role in the distribution of financial services in Africa. As a full stack baas provider, Anchor demarcates customer engagement from infrastructure – enabling its customers to focus on building differentiation as opposed to commodity infrastructure. We are really excited to be working with this determined and experienced team”, Founder of Byld Ventures, Youcef Oudjidane.
Anchor is a solution birthed by the insights garnered from the founders’ experience building and working with fintechs across Africa. The CEO, Segun Adeyemi founded Amplifypay; a payments company which he exited to Carbon (FKA OneFi/Paylater) in 2019. Segun proceeded to work with JUMO—a company that offers credit infrastructure to large mobile money operators across Africa.
Olamide, the CTO and co-founder, has worked at AppZone, TeamApt, Kuda, & Carbon. While at TeamApt he functioned as a Fullstack Engineer in the team that built the first virtual payments product in Nigeria. Gbeke, the Engineering Lead and co-founder, has been an IT Consultant and entrepreneur in Nigeria for over 10 years before joining Booking.com where he built financial operations software.
“We have seen first-hand the painful process of closing banking partnerships, negotiating third-party contracts, and obtaining regulatory approvals. And more generally, the extensive time and effort required to launch financial products,” Segun said.
He added that “considering the similarity in the underlying infrastructure, irrespective of the unique value propositions, companies should not have to wait for years and spend millions to go-to-market. That’s why we are excited to get Anchor into the hands of many more businesses via our public beta launch.”
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