Network’s payment functionality to enable the first payment solution from Money Fellows, the leading money circles app

CAIRO, Egypt, January 8, 2025/APO Group/ — 

Network International (Network) (www.Network.ae), a leading enabler of digital commerce in the Middle East and Africa, has partnered with Money Fellows, the leading money circles app, to power a new solution that will leverage its best-in-class payment functionality.

Under the partnership, Network will provide Money Fellows with its ‘Digital Payments as a Service’ platform with value added services including advanced fraud prevention, fully secure payment functionality, as well as a full suite of back office managed services. This platform will enable Money Fellows to enhance the app’s versatility and user experience. Utilising its pan-regional experience, Network will support Money Fellows’ expansion across the Middle East and Africa region.

This collaboration signifies a major milestone in the fintech sector in the country that is currently experiencing rapid growth, aligning with the Egypt National Vision 2030 plan

Dr. Reda Helal, Group Managing Director – Processing, Africa & Co-Head Group Processing at Network International, said: “We are pleased to partner with Money Fellows to enhance their market offerings and competitiveness, while supporting the company’s expansion into new markets in the Middle East and Africa. This collaboration signifies a major milestone in the fintech sector in the country that is currently experiencing rapid growth, aligning with the Egypt National Vision 2030 plan.”

Ahmed Wadi, CEO & Co-Founder of Money Fellows, said: “We are thrilled to collaborate with Network International on this significant milestone for our company. We are taking this step with confidence, knowing we have the right partner in Network International to ensure the payment functionality and security that our users deserve. This launch marks a pivotal moment in our journey, reinforcing our leadership position in the market and setting the stage for our regional expansion.”

Distributed by APO Group on behalf of Network International.

The plant avoids the usual practice of burning rice straw, which is a by-product of rice cultivation, and ensures its sustainable use by repurposing it into MDF

LONDON, United Kingdom, January 8, 2025/APO Group/ —

• Egyptian Wood Technology Company (WOTECH) relies entirely on mtu island solution for energy supply
• Factory is the second of its kind in the world and the first in Africa, and reduces air pollution and CO2 emissions

Working with INDE and EMC, we were able to deliver a power solution that met all the customer requirements

Rolls-Royce (www.Rolls-Royce.com) has commissioned ten mtu gas gensets in the Beheira province in northern Egypt to supply the Egyptian Wood Technology Company’s (WOTECH) production plant with electricity. Since there is no access to the public grid, WOTECH relies entirely on the 20-cylinder mtu gas gensets, which together have a total output of 25 megawatts.

The factory produces medium-density fibreboard (MDF) from rice straw, which is used for furniture and buildings. Supported by Egypt’s petroleum ministry, the plant avoids the usual practice of burning rice straw, which is a by-product of rice cultivation, and ensures its sustainable use by repurposing it into MDF. The factory is the second of its kind in the world and the first in Africa. It significantly reduces air pollution and CO2 emissions in Egypt. The rice straw replaces traditional wood as a raw material in medium-density fibreboard, which is used to make cabinets, doors, furniture and commercial and residential buildings.

Rolls-Royce worked with local partner Engineering for Industries Co. (INDE) and the Egyptian Maintenance Company (EMC), a provider of engineering support services in the region, to supply the mtu Series 4000 L64 FNER gensets, controls and accessories for the WOTECH project, which was established with full Egyptian capital from the oil sector.

Tobias Ostermaier, President Stationary Power Solutions at Rolls-Royce, said: “When supporting a project such as the WOTECH facility, where there is no access to the grid utility, the dependability of our mtu gas-powered gensets is paramount. Working with INDE and EMC, we were able to deliver a power solution that met all the customer requirements – being efficient, reliable and offering the combination of best-in-class power density with low emissions.”

Each of the 10 mtu gensets has a rated power of 2,500 kW and an operational lifetime of up to 84,000 hours before needing major overhaul (TBO).

Distributed by APO Group on behalf of Rolls-Royce.