Connect with us

Business

Azentio Software’s iMAL is now live at Rammis Bank, Ethiopia

Published

on

Azentio

The solution will enable rapid time-to-market for new digital Sharia-compliant products

SINGAPORE, Singapore, May 25, 2023/APO Group/ — 

Azentio Software (“Azentio”) (https://www.Azentio.com/), a Singapore-headquartered technology firm owned by funds advised by Apax Partners (https://www.Apax.com/), today announced that the latest version of its Islamic banking solution – iMAL (https://apo-opa.info/43kqHU6), has gone live at Rammis Bank, a newly launched financial institution in Ethiopia specializing in Sharia-compliant products and services.

iMAL, the industry-leading digital Islamic core banking platform, is also the first and only certified suite by the renowned Sharia certifying body, the Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI).

The go-live milestone was achieved on 25 March, after an ambitious 30-day timeframe that saw the smooth implementation of Phase 1 modules including Branch Automation and Retail Banking. The new system will allow Rammis Bank to open its doors for business and start operations.

Thanks to the diligent efforts and absolute commitment of the Azentio team and Rammis Bank team, the iMAL implementation project was completed within just 30 days

Ali Ahmed, Chief Executive Officer at Rammis Bank, commented, “Thanks to the diligent efforts and absolute commitment of the Azentio team and Rammis Bank team, the iMAL implementation project was completed within just 30 days, allowing us to commence operations much earlier than we expected. Though we are a new entrant in the country, with iMAL’s globally proven capabilities and Azentio’s enviable track record in Sharia-compliant technology, we are confident of carving out a niche in the interest-free segment in a short span of time.”

The implementation of the multi-award winning iMAL will enable Rammis Bank to fulfill several critical technological prerequisites necessary for its envisioned business growth. These prerequisites include accelerating time-to-market for innovative products, streamlining processes through the integration with various channels and third-party systems, and enhancing customer experience. In addition to the expected operational benefits, Rammis Bank looks forward to meeting its strategic objectives of gaining a foothold in the Islamic banking marketplace and increasing capacity to manage the demands of its evolving business.

Krish Narayanaswami, Managing Director – Banking, Financial Services, and Insurance at Azentio Software, said, “We are very excited to be partnering with an institution like Rammis Bank, keen on innovating and providing interest-free products to its customers and efficiently managing their customers’ digital banking experiences. We look forward to meeting their strategic objectives with iMAL, which has consistently proved its merit in blending effective digitalisation with the highest standards of Islamic banking operations’ ethics.”

Phase 2 of the iMAL implementation at Rammis Bank will cover Islamic Financing, Islamic Pool Management, Treasury, Investments, Trade Finance, SWIFT Payments, ATM, Facility Management, and Digital Banking modules.

Distributed by APO Group on behalf of Azentio Software Private Limited.

Business

HELI Aims for #1 Position in Middle East and Africa with New Forklift Models and Strategic Investments

Published

on

HELI

Company Expands Regional Footprint, Hosts 40 Regional Partners at Exclusive Distributors’ Conference in Dubai

DUBAI, United Arab Emirates, November 22, 2024/APO Group/ — 

HELI (www.HELIChina.net), China’s leading forklift manufacturer and a global player in the material handling industry, has unveiled three new forklift models at the opening of its UAE distributor Hala’s state-of-the-art showroom and workshop in Dubai Industrial City.

This launch marks another significant step in HELI’s ongoing expansion in the Middle East and Africa (MEA) region, as the company continues its drive to become the leading forklift brand across the region.

HELI’s mission, Lifting the Future, is driven by a vision to become a global leader, and a singular aim to be ranked among the world’s Top 5 forklift manufacturers. Founded in 1958, HELI has consistently delivered innovative, intelligent logistics solutions, establishing itself as a global first-class integrator of industrial vehicles and intelligent logistics systems. With a people-oriented approach and a commitment to repaying society through high-quality products, HELI’s brand proposition—Empower the World—reflects the company’s dedication to empowering industries worldwide.

Ranked among the top ten forklift manufacturers globally since 2006, HELI’s streamlined strategies in capital, industrial, and innovation chains have fueled rapid growth. Today, HELI’s products are sold in over 150 countries, and in the MEA region, the company has already secured the leading position in 15 African countries, with an expanding presence in the Middle East. With continued investment in new product launches and strategic partnerships, HELI is on track to achieve its ambitious goal of becoming the leading forklift brand across the region.

The new HELI G Series 2.0-ton lithium battery forklift, specifically engineered for the beverage industry, was also introduced at the event. Building on the proven reliability and advanced technology of HELI’s G Series, this model incorporates several innovative features tailored to the unique demands of beverage logistics. These include a flexible adjustable cab height for enhanced operator visibility and safety, an intelligent steering system that prevents sharp turns for smoother operations, and an active safety protection system that decelerates or brakes when personnel approach danger zones, reducing workplace risks. Designed with beverage industry needs in mind, it includes features like single/double pallet forks and a 360-degree vision optimization system for better maneuverability.

The G3 Series forklifts, available in 2-3.5 Ton and 5-10 Ton models, offer key shared advantages that enhance efficiency, safety, and performance. Both models are energy-efficient, with the 2-3.5 Ton version reducing consumption by 15% and the 5-10 Ton featuring a low-noise system. They incorporate advanced safety features, such as pedestrian detection, AI-powered collision warnings, and an optional reversing camera, ensuring a safer work environment. Designed for high performance and reliability, both models require minimal maintenance and are built to handle demanding industrial tasks. The 2-3.5 Ton version offers an enhanced load capacity up to 4.5 meters, while the 5-10 Ton excels in climbing performance. Additionally, ergonomic features like reduced steering effort and low-noise operation improve operator comfort and productivity.

With the increasing focus on electrification, we are providing customers with clean energy alternatives that align with global sustainability goals

Together, the G3 Series forklifts deliver a reliable, cost-effective solution for businesses seeking safety, efficiency, and durability in their material handling equipment.

“These new models reflect HELI’s commitment to addressing the growing demand for sustainable and efficient material handling solutions in the region. With the increasing focus on electrification, we are providing customers with clean energy alternatives that align with global sustainability goals and empowering our partners to achieve #1 status in their respective markets,” said Guan Lei, General Manager of HELI Middle East FZCO.

During the showroom opening, Mathew Abraham, Managing Director of Hala, HELI’s UAE distributor, emphasized the potential of the partnership, noting, “With HELI’s world-class technology and our deep understanding of the regional market, we are well-positioned to offer comprehensive solutions, ensuring the highest standards of after-sales support and sustainability.”

HELI’s growth in the region is underscored by its ongoing investment in infrastructure. The company is currently leasing between 6,000 and 8,000 square meters of space in the Middle East to expand its service capabilities and provide quicker, localized support. These efforts are aligned with HELI’s strategic goals and reinforce its position as a key player in the material handling and logistics sectors.

At a closed-door distributors conference held this week, 40 partners from across the region gathered to discuss HELI’s product innovations and regional growth strategies. The conference highlighted the company’s vision for the future and its strong partnerships with regional distributors. The theme of the conference, “Together We Thrive, Limits We Defy,” reflected the shared ambition to work harder with determination, pushing past boundaries and striving for excellence.

Recent industry data from the World Industrial Truck Statistics (WITS) shows HELI’s growing presence in the UAE, where it is now the second-largest forklift brand. This growth, coupled with a rising shift toward electrification, further positions HELI as a leader in the MEA region. The company’s success in Africa, where it holds the #1 position in 15 countries, demonstrates the strength of its offering and its ability to meet local market needs.

Chen Xianyou, Vice General Manager of Anhui HELI Co., Ltd, emphasized, “Our continued investment in the MEA region is a testament to our long-term vision. We are focused on achieving sustainable growth, backed by our strong after-sales service network, and building lasting relationships with our regional partners.”

With its leadership position in China for 33 consecutive years and a growing footprint in the Middle East and Africa, HELI is poised to become a globally recognized brand in the material handling industry.

Distributed by APO Group on behalf of HELI.

Continue Reading

Business

West Africa Deal Summit 2024 calls for regional collaboration to unlock catalytic capital, rewards outstanding organisations

Published

on

West Africa Deal Summit

The summit closed with an invitation to the Africa Impact Summit 2025 scheduled for June 11-12, 2025, in Accra, Ghana

LAGOS, Nigeria, November 22, 2024/APO Group/ — 

The 2024 West Africa Deal Summit (WADS) (www.WestAfricaDealSummit.org) concluded on Wednesday, with a call for more regional collaboration to mobilise catalytic capital to address West Africa’s unique socioeconomic challenges. The two-day event attended by over 400 investors, entrepreneurs, government representatives, and thought leaders, focused on building innovative financing mechanisms. 

The summit themed “Actions to Deepen Catalytic Capital in West Africa” organised by the Impact Investors Foundation, Impact Investing Ghana alongside impact investing taskforces in Burkina Faso, Senegal and Cote d’Ivoire highlighted several other priority actions in a joint statement issued at the event’s close. 

One of the highlights of the summit was the launch of two transformative reports – Catalytic Capital in Nigeria (https://apo-opa.co/3ZiaMGL) and Context Mapping and Market Landscape for Catalytic Capital in Nigeria (https://apo-opa.co/3CCKEO7),  that identified organisations deploying catalytic capital in Nigeria; spotlighted the types of investments they make and their impact; and mapped the spectrum of capital used in Nigeria. 

Catalytic capital, strong governance, regional collaboration, and innovative financing mechanisms are essential for leveraging West Africa’s potential

At the end of the two-day summit, the Impact Investors Foundation in partnership with LEAP Africa also celebrated trailblazing organisations for their meaningful contributions to environmental and social causes. Alitheia Capital Management bagged the Impact Investor of the Year 2024, FAMASI Limited was conferred with the Social Enterprise of the Year 2024 while Centre for Legal Support and Inmates Rehabilitation (CELSIR) bagged the Innocent Chukwuma Award for Social Impact, 2024.  In the Social Innovators Programme Award categories by LEAP Africa, FarmSpeak Technology and Power Wheels Electricals received the Outstanding Fellow Award; the Seyi Bickersteth Award for Financial Accountability 2024 recipient was Read To Learn Foundation while Natal Cares bagged the Innocent Chukwuma Award for Youth and Gender Empowerment 2024. 

The IIF and Nigeria Office for Philanthropy and Impact Investing (NPO) also jointly awarded the Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Kalu with the Policy Champion for Philanthropy and Impact Investing award for his role in championing Nigeria’s first-ever legislation on impact investing and philanthropy. 

Etemore Glover, CEO of the Impact Investors Foundation, highlighted the collective commitment of summit participants to accelerating efforts in building national and regional ecosystems that drive resilience and sustainable growth. 

“We, the impact investing community, commit to building national and regional ecosystems that foster sustainable growth and resilience. Catalytic capital, strong governance, regional collaboration, and innovative financing mechanisms are essential for leveraging West Africa’s potential,” she said. 

The joint statement was issued by Mirabelle Moreaux, Board Vice Chair, Impact Investing Ghana (IIGh); Etemore Glover, CEO, Impact Investors Foundation; Amma Lartey, CEO, Impact Investing Ghana; Yacouba Ouedraogo (PhD), Member, Burkina Faso Impact Investing Taskforce and Co-founder, Africa Impact Investing Partnerships Centre and Bowel Diop, Member, Senegal Impact Investing Taskforce. 

Key initiatives outlined in the joint statement include strengthening regional collaboration and Knowledge Exchange; Mobilising Local Capital; Encouraging Innovation and Collaboration for Systemic Change; Strengthening Good Governance and Capacity-Building for MSMEs; and promoting Data-Driven Design and Execution. The summit closed with an invitation to the Africa Impact Summit 2025 (https://apo-opa.co/3OleFV3) scheduled for June 11-12, 2025, in Accra, Ghana. 

Distributed by APO Group on behalf of West Africa Deal Summit.

Continue Reading

Business

How 5G Transforms Life: A Foreigner’s Journey Through East China’s Digital Revolution

Published

on

World Internet Conference Summit

HANGZHOU, CHINA – Media OutReach Newswire – 22 November 2024 – As the 2024 World Internet Conference Summit opened in Wuzhen, Zhejiang province on November 20, showcasing China’s latest achievements in artificial intelligence and digital technology, a foreigner who has called China home for 15 years witnessed firsthand how one particular technology – 5G – is revolutionizing everyday life in this eastern province.

Yegor Shyshov, who has lived through China’s digital transformation, found himself amazed by the practical applications of 5G technology beyond mere phone services. From smart manufacturing to autonomous vehicles and remote healthcare, his journey through Zhejiang province revealed how the technology showcased at Wuzhen is already improving lives in neighboring cities.

“These applications are not just exhibition pieces – they’re already changing how people work and live,” said Shyshov, as he toured various 5G-enabled facilities across the province.

In Zhejiang’s Yiwu city, blankets are being weaved in bulk by Truelove, one of China’s leading blanket makers, under the custody of 5G-empowered AI system.

“The inspection for broken threads used to be the toughest job,” Zhang Xiaomao, a chief engineer at Truelove’s smart manufacturing sector, told Shyshov. “In cooperation with China Mobile, we rolled out the 5G+AI visual quality monitoring system, after 18 months of testing.”

The system is able to monitor the threads while they are being weaved, Zhang said, adding that it could stop a warp knitting machine when a broken thread is detected, ensuring accurate quality control.

“There are 24 cameras installed on a warp knitting machine, in short, we have installed ‘electronic eyes’ on our machine, which can realize real-time monitoring of 8,000 threads,” he said.

Upon detection of broken threads, the system automatically halts production, reducing defects by 90% while processing 40 million images daily. The efficiency gains are remarkable: one worker can now manage 12 machines, triple the previous capacity of four.

While the 5G buildout brought revolution in industries, it can be better felt in people’s daily life, as phone service has long become a modern necessity. However, 5G is ready to make big changes in areas beyond that little plate of screen.

Some self-driving mini shuttle buses are currently on its trial operation around the Jinyi Lake in Jinyi New District, Jinhua city.

Shyshov went to take one of the buses — the 5.8-meter-long vehicle has eight passenger seats and can travel at a speed of 20 km/h. It is installed with five LIDAR (Light Detection And Ranging) and five cameras, which enable it to give way to pedestrians if detected, and bring itself to halt upon reaching designated stops.

While the vehicle drives itself, a safety staff sits at the driver’s cab to ensure safe operations. These vehicles are currently on trial service for now, providing transport between seven stops along a 6.5-kilometer-long loop within a limited area

Continue Reading

Trending