Markets mea MEA Markets- Q4 2024 Featuring:
News All industries have seen a plethora of changes in recent years, especially as technology drives change and helps businesses to produce results, and 2024 has been a year of technological advancement. There is no set way to utilise progressive technology as every business and client are different, but, here, we explore those award-winning companies making a positive impact in such a rapidly evolving landscape whether they use new technology or push for a more traditional approach. With their many talents and skills, our awardees are predicted to have the upper hand for the beginning of 2025 – especially as they ensure their contributions to the Middle East and Africa continue to move with the needs of their clients and customers. I hope you enjoy perusing this issue and I wish you a successful quarter ahead. I look forward to welcoming you back again soon for the Q1 2025 issue of MEA Markets magazine. Welcome to the Q4 issue of MEA Markets magazine. As always, we are dedicated to providing our readers with all the latest news and features from across the Middle East and Africa. AI Global Media, Ltd. (AI) takes reasonable measures to ensure the quality of the information on this web site. However, AI will not assume any legal liability or responsibility for the accuracy, correctness or completeness of any information that is available through this web site. If errors are brought to our attention, we will try to correct them. The information available through the website and our partner publications is for your general information and use and is not intended to address any particular finance or investment requirements. In particular, the information does not constitute any form of advice or recommendation by us or any of our partner publications and is not intended to be relied upon by users in making or refraining from making any investment or financial decisions. Appropriate independent advice should be obtained before making any such decision. Any arrangement made between you and any third party named in the site is at your sole risk and responsibility.
News Contents 4. News 6. Priority Solutions Ltd: Most Creative Marketing & Communications Strategists 2024 - Sierra Leone 8. OneConnect Technologies East Africa Limited: Best Agribusiness Communications & IT Solutions Company 2024 - East Africa 9. Masdar and Presight Sign Agreement to Develop AI Asset Management Tool 10. Distressed Retailers: Why Private Equity Funds Should Come to the Rescue in South Africa 12. Bridging the Digital Gender Divide Through Mentorship and Collaboration in Africa 13. The Game-Changing Benefits of Cloud-Based ERP Systems 14. How the Digital Revolution in the Middle East and Africa is Opening the Global Trading World Through Online Trading Platforms 8. 6.
News Rolls-Royce Motor Cars announces new Regional Director Middle East & Africa Rolls-Royce Motor Cars has announced that James Crichton will take up the role of Regional Director Middle East & Africa from 1 November 2024. James has held a variety of senior roles at RollsRoyce Motor Cars since 2010. For the last six years, he has worked as General Manager, Global Sales Operations, based at the Home of Rolls-Royce, and prior to this he was Regional Director, Europe & Central Asia. Born in South Africa, James joined BMW Group in 1999 as a National Sales Manager at the Johannesburg office. For a short time, he was based in Munich before moving to Dubai in 2007 where he was Sales and Marketing Director for BMW and MINI. In 2011, he established the Rolls-Royce Motor Cars regional office in Dubai, before moving to the UK in 2012. The Middle East & Africa is a strategically important region for Rolls-Royce Motor Cars; it is home to the first Rolls-Royce Private Office established outside Goodwood and the source of many of the company’s most elaborate and extensive Bespoke commissions. James is excited to be returning to the region and taking on the leadership of the strong and successful team based there. He succeeds César Habib, who has left the company to pursue alternative business interests. “I am delighted to welcome James Crichton to his new role as Regional Director Middle East & Africa. James has more than 14 years of experience with Rolls-Royce Motor Cars and has held several leading positions in the company during this time. This latest move to Dubai reunites him with the regional office he was asked to establish in 2011. Middle East & Africa is a hugely important region for our business, and I wish James continued success in his role leading the excellent team which serves the region.” Julian Jenkins, Director of Sales & Brand, Rolls-Royce Motor Cars • James Crichton takes up position as Regional Director Middle East & Africa • Crichton has been with Rolls-Royce Motor Cars for more than 14 years, serving as General Manager, Global Sales Operations at Goodwood the last six years • He assumes his new role from 1 November and will be based at the regional office in Dubai
News Nayyer Group Establishes its Manufacturing in Ras Al Khaimah to Serve Global Markets Nayyer Group, a leading geotextile and carpet producer from Pakistan, is establishing its subsidiary—Nayyer Carpets—with a state-of-the-art manufacturing unit in Ras Al Khaimah. Spanning 57,000 m2, this new facility in RAKEZ Al Ghail Industrial Zone is set to manufacture a variety of products, including carpets, needle loom felt, geotextiles, wall-to-wall carpets, and grass carpets with an initial workforce of 40 employees. With a production capacity exceeding 50 million m2 annually, Nayyer Carpets is poised to serve markets across the Gulf Cooperation Council (GCC) countries, Africa, India, and Pakistan. The company’s expansion strategy includes plans to double both its production output and workforce every year as it scales its operations. Adding to this, Nayyer Group Chairman Chaudhry Nayyer Hussain said, “This expansion into Ras Al Khaimah is significant for us. We are confident that our investment here will allow us to tap into new markets, while also contributing to the emirate’s industrial growth. Our vision is to make Nayyer Carpets a globally recognised brand and Ras Al Khaimah’s strategic location, combined with the support provided by RAKEZ, gives us the perfect platform to achieve that.” Nayyer Group Board Member Saleem Karsaz said, “Ras Al Khaimah is a readily accessible and viable place for our business operations connecting us to key markets, which is important as we grow. Add to that, its existing industrial infrastructure and the availability of a skilled workforce. What really stood out for us was its existing infrastructure and the access to a skilled workforce. The team at RAKEZ made our setup process smooth, ensuring we had everything we needed on the journey to getting our facility up and running quickly. We are excited about what’s ahead.” RAKEZ Group CEO Ramy Jallad said, “Nayyer Carpets’ expansion into Ras Al Khaimah reflects the growing appeal of our emirate as a strategic hub for ambitious industrial players. We are focused on providing the right environment and infrastructure to support businesses in reaching new markets and achieving long-term success. Our vision is to create an ecosystem where companies can innovate, scale, and become leaders in their industries, leveraging the advantages Ras Al Khaimah offers in terms of connectivity, talent, and streamlined processes. We look forward to seeing this partnership thrive and contribute to shaping the future of manufacturing here.” RAKEZ is already a key destination for Pakistani investors, with companies like Solar X, Crimson Middle East, and SM Pumps choosing the emirate as a strategic base for their regional and global operations. As more businesses like Nayyer Carpets take advantage of RAKEZ’s infrastructure, support, and connectivity, the emirate’s position as an industrial hub continues to strengthen, fostering long-term growth and innovation across diverse sectors.
MEA | Q4 2024 One of Sierra Leone’s leading advertising and PR agencies, Priority Solutions Ltd is proud to be a sub-regional powerhouse when it comes to the field of marketing and communications. Specialising in through-the-line execution strategies, which are those that encompass both above-the-line and below-the-line strategies so as to reach a wider audience whilst also remaining personalised and targeted, this company’s almost 15 years of experience have resulted in it building an esteemed reputation throughout its home country, as well as in Ghana and Liberia. At the very heart of Priority Solutions Ltd is a steadfast commitment to deliver a high standard of bespoke marketing and communication solutions that work, every time. In this, the rapidly evolving economic landscape of Africa today, businesses and brands can find it difficult to get their voices heard, and this is where the team at Priority Solutions come in. Through the trifecta of impactful storytelling, effective campaigns, and strategic branding, this team are aligned with Africa’s calls for transformation and economic inclusion through marketing and communications. Renowned for its consistent delivery of impactful brand and business solutions across several key territories in West Africa, Priority Solutions is immensely proud to work with a client base that is as diverse as they come, comprised of telecommunications giants such as Orange Sierra Leone – a brand that the company has carried out a number of diverse projects for ranging from launch events to TV spots – through to such businesses as Sub-Saharan satellite service DStv and nongovernmental organisation Sightsavers, to name just a few. The array of companies seeking out Priority Solutions do so for its comprehensive range of services, which includes advertising, marketing, PR, and event management, as well as broader communications strategies, all of which are entirely tailored to the diverse needs of the client. Although the specifics of these services may vary drastically from client to client, one thing that remains steadfast is the company’s adherence to its core values of dedication, honesty, teamwork, and dependability, the four cornerstones of its operation. As the company’s own Ebenezer Palm explains: “We prioritise a client-centric approach, ensuring transparency and collaborative teamwork. These values are embedded in every project, guaranteeing that we consistently deliver effective results that align with our clients’ goals.” Further underpinning the effectiveness of the company’s strategies are data-driven insights, with these spanning everything from general market research to consumer behaviour, guaranteeing that every solution is equal parts innovative and practical. Out of all of the recent projects that Priority Solutions has carried out, its ‘Be Sure Be Aware’ Consumer Protection campaign is certainly one of the standouts, with this being carried out on behalf of the Bank of Sierra Leone as a part of its wider aim to educate customers across the country about their financial rights. Through this initiative, not only was confidence in the country’s banking sector strengthened significantly, but substantial progress was also made concerning the entire country’s financial inclusion levels. “Another notable project was the successful rebranding of Airtel Sierra Leone to Orange Sierra Leone, which helped to establish a new era in telecommunications for the country”, adds Ebenezer. Just like with the financial initiative discussed above, this project solidifies the company’s ongoing and far-reaching impact on Africa’s economic growth, something that it ultimately achieves by driving innovation and promoting working in a transparent and ethical manner, regardless of the specific industry a client is based in. Just like with every project it undertakes, Priority Solutions’ success here has been made possible by the textbook internal culture it has running through its veins, built on the twin pillars of dynamism and support. Alongside a consistently strong output when it comes to client projects, the strengths of this working environment manifest themselves further through ongoing professional development, which sees staff afforded the means to continuously hone their skills across the fields of marketing, digital media, and communications. Be it through regular hands-on training, mentorships, or collaborations carried out both internally and externally, the emphasis on development that permeates this agency at every level results in a workforce thriving at the cutting edge of the industry. Beyond this, a commitment to these areas also results in Priority Solutions attracting top industry talent, with individuals drawn to the company on the back of its well-deserved reputation for excellence and the training/ progression opportunities available within its internal infrastructure. Having assembled such a stellar staffing team, Priority Solutions is distinguished as a result of its intricate and unique understanding of West African markets, allowing it to effortlessly combine deep local insight with global best-in-class precision to create strategies that resonate with the intended audience every time. For Ebenezer, “our track record of successful brand-building campaigns, including our partnerships with international agencies like M&C Saatchi and Publicis, is a testament to our ability to deliver results that work.” “As a company at the forefront of West African communications, we pride ourselves on being adaptable and responsive to the everchanging market dynamics. Our success lies in our ability to seamlessly blend creativity with data-driven insights, ensuring that our clients’ goals are met.” Aside from ensuring they deliver a significant lasting impact for client businesses; Priority Solutions also measures the success of its strategies and solutions based on their adherence to sustainable practices and community impact. Some examples of the company’s community-specific projects include working on a COVID-19 awareness campaign to promote public health, as well as launching a drug awareness drive consisting of both treatment stations and initiatives to teach people about the inherent dangers of illegal drug use. Most Creative Marketing & Communications Strategists 2024 - Sierra Leone
7 Most Creative Marketing & Communications Strategists 2024 - Sierra Leone Finally, looking ahead to the future, Priority Solutions remains dedicated to expanding its services to both new and existing markets alike across West Africa, delivering PR and communications excellence to businesses throughout Sierra Leone and beyond. As for more short-term goals, a number of its signature campaigns are set for release in the final weeks of 2024 and the first few weeks of 2025, as too is the introduction of several new marketing technologies for the purposes of further boosting client engagement. As the premier, 360-degree, strategic advertising agency in Sierra Leone, the creativity innate within Priority Solutions ultimately boils down to its fresh ideas, refreshing commitment to transparent communication, and a world-class team whose abilities and dedication both know no bounds. With an ability to turn ideas and potential into golden opportunities, Priority Solutions Ltd is a company more than deserving of being recognised as the Most Creative Marketing & Communications Strategists 2024 - Sierra Leone. Company: Priority Solutions Ltd Web Address: prioritysolutions.co/
MEA | Q4 2024 8 Best Agribusiness Communications & IT Solutions Company 2024 - East Africa At its core, OneConnect Technologies East Africa Limited (OneConnect), is a compliant and multifaceted technology company that is headquartered in South Africa but has offices in Nairobi, Kenya and Maputo, Mozambique. With more than 15 years of providing turnkey technology services and solutions to business of all shapes and sizes across the continent to its name, OneConnect is one of the region’s leading communications and IT solutions providers. he strength of OneConnect is reflected in a dynamic team which is comprised of technology specialists, professionals whose knowledge encompasses everything from architecture and design to application development, integration, maintenance, and additional support across a variety of technologies, all of which are delivered impeccably to valued clients across Africa. Across this suite of products and services, the team behind it offer excellence every step of the way, including a robust post-sale service and ongoing support. As a result of this, OneConnect operates atop a track record of outstanding results, having clearly helped a range of clients to digitise and transform their businesses from the inside out. It has accomplished this feat by striking the balance between great processes and systems and ever better people, leading to effective, experience-boosting decisions being made that are backed by accurate data. What follows is that many of these African companies then have the tools they need to succeed on an international stage. Exploring further the specific services and solutions that OneConnect provides and who it provides them for, beginning with the former, its technologies span everything from system integration and enterprise service applications to project and release management, content development, and even HR consulting. These services are then provided across six key areas, spanning enterprise integrated solutions, enterprise business solutions, education technology, placement solutions, marketing solutions, and finally, industries. When it comes to enterprise integrated solutions, these complete offerings are delivered in such forms as packaged solutions, software licences, and other managed services across five distinct categories – cloud-based services, DevOps services, cybersecurity, AI and IOT, and business unit processes. In a similar vein, when it comes to enterprise business solutions, OneConnect’s status as an SAP GOLD Partner sees it transform client operations through such innovations as the cutting-edge SAP ERP system. This system in particular is having a transformative impact on organisations across Africa, including KTDA Holdings Ltd, a farming company that has invested considerably in Kenya’s tea industry and subsequently become one of the largest tea-producing businesses on the planet. With more than 71 factories, 600,000 farmers, and 10,000 employees to its name, bringing consistency and strong decision-making capabilities to the table was no easy task, and this is why the company sought to totally transform its end-to-end systems. Bringing all of these factories under the umbrella of one encompassing system, the SAP ERP has demonstrably streamlined every element of KTDA’s operation, from production planning and quality management right through to payroll-enhancing operational efficiencies. Concerning this final point in particular, every one of the farmers working for the company is now paid using this innovative SAP system, which has successfully reduced payment processing times by upwards of 80% since the rollout began. Other speciality areas for the business include EdTech, where, through OneConnect Education, its products span everything from learning management systems and digital classrooms to online assessments and teacher training, ensuring everybody is afforded access to education and a connected support system. A similarly broad range is available in the realm of marketing, where OneConnect carries out brand strategy, web/ app design, and SEO, as well as email and social media marketing and other such content development services. Covering all of the bases, just some of the industries benefiting from this comprehensive approach, alongside farming and agriculture of course, include manufacturing, banking, education, and logistics. Thus, across the areas discussed above, OneConnect has partnered with such worldleading organisations as TeamViewer, SPAR, Amazon Web Services, and Telkom, along with countless smaller and more niche companies operating in the heart of East Africa and beyond. Named as the Best Agribusiness Communications & IT Solutions Company 2024 - East Africa, the success of OneConnect Technologies East Africa Limited can largely be attributed to its method, which sees its project-centric experts pull together to enhance a business through a model akin to the ‘Scrum Framework’. The results are reduced costs, quick turnarounds, and region-specific solutions, cementing this business as a standout in its area of operation and a worthy winner of this award. Contact: Patrick Kinsanya Web Address: https://oneconnect.co.za/ T
MEA | Q4 2024 9 • Memorandum of Understanding seeks to establish joint venture to build AI asset management tool • AI will provide analytics and insights from billions of data points across Masdar renewable energy projects • Masdar will use tool to enhance efficiency, reduce downtime and anticipate upcoming failures Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, has signed an agreement with Presight, the region’s leading big data analytics company powered by generative artificial intelligence (AI), to develop an asset management tool for its renewable energy projects around the globe. Masdar’s renewable projects generate billions of data points every day from the equipment they use, such as solar panels, inverters and wind turbines. This vast amount of data can be analysed and evaluated to generate valuable insights and enable data-driven decision making. By developing an AI-based asset management tool, Masdar is seeking to digitize its operations worldwide, moving from a reactive model to a predictive approach where it can analyse data and operational patterns to anticipate issues in advance, enhance efficiency, address failures before they occur, reduce downtime, and ultimately boost energy production. As the UAE’s clean energy pioneer, Masdar has been at the forefront of innovation and development in the renewable energy sector. Through its agreement with Presight, it is applying the same innovative approach through the inclusion of AI technology to make its energy supply smarter. AI is viewed as having a significant role to play in the energy sector, boosting efficiency and operational patterns while applying predictive analytics to optimize energy grids and increase resilience. It can help support the seamless integration of renewable energy and other energy sources. Masdar Chief Executive Officer Mohamed Jameel Al Ramahi said: “With our history of developing projects using cutting-edge clean energy technologies, it was a natural progression for Masdar to explore the potential for deploying AI across energy systems to enhance efficiency and deliver data-driven decision-making. The integration between AI and energy is a game-changing economic opportunity that will enable us to build a bridge to a low-carbon, high-growth future. We are pleased to announce this agreement between two UAE-based pioneers that will help to achieve this goal.” Thomas Pramotedham, CEO of Presight, said: “Clean energy has a number of specific operational needs, from managing shifting supply throughout the day to efficiently merging with other forms of energy in the grid. As a global clean energy leader, Masdar generates billions of data points across its extensive portfolio. This partnership therefore represents a unique opportunity to develop a bespoke tool that consolidates all that information, uncovers hidden insights and takes action to improve efficiency, predict maintenance needs, and ultimately increase the supply of renewable energy. This will be transformational for the sector, and so I’m looking forward to seeing this collaboration progress.” AI promises to have a far-reaching, transformational impact on the energy transition and is projected to add USD7 trillion to global GDP over the next ten years. It has the capability to change the pace of progress by maximizing energy efficiency and minimizing emissions at scale. Since its establishment in 2006, Masdar has been a key enabler of the UAE’s vision as a global leader in sustainability and climate action. The company has developed and partnered in projects in over 40 countries, with a mandate to increase its renewable energy portfolio capacity to 100GW by 2030 and to become a leading producer of green hydrogen by the same year. Masdar and Presight Sign Agreement to Develop AI Asset Management Tool
MEA | Q4 2024 he retail sector in South Africa has experienced significant distress in the last year, with several high-profile retail businesses entering business rescue proceedings. Retail giants like AutoZone, West Pack and Cross Trainer, for example, have all recently entered business rescue, highlighting the growing financial pressures faced by companies in the sector. Every challenge is also an opportunity and private equity firms are uniquely placed to step in and acquire distressed assets at attractive valuations, assisting to turn them around in the process. According to statistics by Trading Economics, consumer spending in South Africa amounted to R3.09bn in the first quarter of 2024, down slightly from R3.1bn in the fourth quarter of 2023. Factors such as high inflation and interest rates, increasing unemployment, global geopolitical challenges and resultant supply chain constraints have continued to dampen consumer confidence, leading to decreased sales and heightened financial stress for retailers. South African retail businesses such as AutoZone, the auto parts retailer, have struggled under heavy debt, demonstrating the vulnerability of niche markets within the sector. West Pack Lifestyle, despite being a popular household name, recently entered voluntary business rescue, indicating that even well-established brands are not immune to the current economic climate. Cross Trainer, an athletic and footwear retailer, has also faced financial distress, highlighting how shifts in consumer preferences and financial constraints are impacting even specialised retail sectors. Benefitting from high interest rates New numbers released in August 2024 by StatsSA, however, show a slight increase in consumer spending, with retail sales increasing by 4.1% year-on-year in June, up from the 1.1% increase recorded in May. And while global high interest rates have slowed growth around the world, PE funds have benefitted from the higher rates, with dry powder that was not deployed in challenging market conditions accumulating at record levels. A recent study by the South African Venture Capital and Private Equity Association also puts private equity fundraising in South Africa at a 13year high in 2023, with funds being raised in excess of R28bn, a 43% jump from 2022. With interest rates expected to decrease in the months ahead and consumer spending likely increasing as a result, PE firms are well placed to acquire, and have in many instances been specifically seeking out, investments in the retail sector. Distressed Retailers: Why Private Equity Funds Should Come to the Rescue in South Africa T The current economic conditions have also created opportunities for take-private transactions in the retail sector, particularly for listed companies with small-to-mid market capitalisations that are trading at discounts to their net asset values. In 2023, the JSE recorded 12 delistings, with 13 recorded in 2022. Many small to mid-cap listings on the JSE have also struggled with the administrative burden and significant costs relating to being listed, which the JSE is addressing via an ongoing simplification of its listing requirements. Certain companies have dealt with share prices that value them at a significant discount to their net asset value. In these scenarios, existing majority investors may be of the view that there is more value to be found by taking the company private. Kenya The same trend is evident in Kenya, where businesses in the retail sector are partnering with PE firms to enhance their business offerings, improve efficiency and grow into new markets. According to the Boston Consulting Group (BCG), PE investment funds can find opportunities to provide capital and management expertise that will enable local modern retail chains to scale up in new cities. In Kenya, PE funds are playing an important role in backing local, modern chains, such as Naivas and Quickmart, that target middleincome areas in major cities. In 2022, BCG noted in its Future of Traditional Retail in Africa report that investment funds were looking
11 Distressed Retailers: Why Private Equity Funds Should Come to the Rescue in South Africa for opportunities to provide capital and management expertise so that local businesses in Kenya could scale up. Africa Across Africa, there is growing interest in Africa’s retail sector, driven by an expanding middle class and a rise in consumer spending. In addition, the African Continental Free Trade Area is expected to begin providing real benefits to retail companies in Africa in the next decade, as trade across the continent becomes easier. Many African countries are scaling up production facilities, investing in transport and utilities infrastructure and streamlining customs processes to be able to take advantage of continental free trade. Retail companies trading across the continent will be major beneficiaries of streamlined intra-African trade. PE capabilities The retail sector’s need for fresh capital, restructuring and strategic realignment is a good fit with the capabilities on offer from certain PE funds. Some potential areas of focus for PE firms when assisting distressed African retail companies include leveraging their expertise in operational efficiency to streamline distressed retailers, reducing costs and improving profitability in the process. PE firms can also assist distressed companies to consolidate market share and drive growth through strategic acquisitions and mergers. Digital transformation strategies, which include investments in digital infrastructure and e-commerce capabilities, can help struggling retailers adapt to changing consumer behaviour and capture market opportunities. PE firms can assist in the implementation of innovative payment solutions, enhanced digital security and blockchain for supply chain transparency, for example. With the rise of artificial intelligence, augmented and virtual realities, and personalisation through data analytics, PE companies that are at the forefront of these technological advancements are able to assist retail companies to adapt to evolving market conditions. Sustainable alternatives The growing demand for sustainable products could also be a way for PE companies that focus on ESG principles to add value to distressed companies by creating strategies that prioritise environmentally friendly alternatives. Other ways PE companies could assist distressed retailers include advising on product ranges, enhancing the logistics and supply chains of the businesses, opening up new market segments and assisting to upgrade infrastructure. While exercising caution, PE firms are able to leverage distressed retail companies to grow their portfolio in the sector. This will enable PE firms to capitalise on improving consumer buying trends and economic conditions going forward. Despite current macroeconomic challenges, investors willing to take on the risk of purchasing distressed assets through business rescue could see significant returns and breathe new life into the distressed retail sector in the process.
MEA | Q4 2024 12 Jul23190 Bridging the Digital Gender Divide Through Mentorship and Collaboration in Africa Sumaiyya Nyansige, who secured her current position as a Security Consultant, credits her success to her involvement in the African Girls Can Code Initiative (AGCCI) during its 2nd cohort. She shared that the skills she gained through the program expanded her network and connected her with potential employers who recognized her qualifications. This aligns with the theme discussed in the recent webinar, ‘How Women are Shaping the Future of Technology,’ organized by UN Women and Safaricom.” With over 200 participants, the two-hour webinar brought together key stakeholders, industry leaders, and experts to discuss the critical role women play in driving technological innovation and fostering inclusive growth. A sobering statistic revealed during the webinar was that on a global scale, 69% of men are using the Internet compared to just 63% of women as of 2022. This translates to 259 million more men than women using the Internet. In her remarks, the outgoing UN Women Kenya Country Representative, Ms. Anna Mutavati, underscored the importance of amplifying women’s voices within the ICT sector. She recognized that platform like webinars provide invaluable opportunities for women leaders in technology to share their experiences and inspire future generations. Other keynote speakers included Donna Rege, Senior Manager, IT Business and Governance Head, Women in Technology at Safaricom and Wanja Murekio, Regional Project Portfolio Manager, Old Mutual who served as the event’s Chief Guest. Bridging the digital gender divide is vital for advancing an inclusive digital future. Collaboration among stakeholders and the sharing of knowledge are critical to driving meaningful change. The webinar’s panel discussion, Why Inclusivity Must Be at the Heart of Innovation and Technology, featured insights from Mumbi Ndungu (Executive Director, Power Learn Project), Anie Akpe (Founder, African Women in Tech), Queenie Meria (Programme Associate, UN Women), Catherine Wangari (Senior Product Manager, Turaco), and AnnMaria Kerubo (AGCCI Graduate). Barriers to Participation Despite progress in technological development women and girls continue to face significant barriers to participation, such as limited access to education and exclusion from decisionmaking spaces. Addressing these challenges will ensure that women not only participate in the digital space but also take on leadership roles in shaping its future. Initiatives and Programs Making Impact UN Women is actively creating pathways for women and girls to access the technology world. In partnership with the African Union Commission, International Telecommunication Union, and Siemens, UN Women runs the AGCCI Initiative which targets girls in the age bracket of 17 to 25 years. AGCCI takes a wholistic approach focusing on 3 key areas: • Skills Development – The program equips girls with digital literacy, coding, robotics, and other technical skills to prepare them for careers in technology. • Access to Equipment – Upon completing the AGCCI coding camp, each graduate receives a laptop and six months of internet access to kickstart their journey in innovation and technology. • Mentorship and Networking – The Siemens EmpowerHer Program provides six months of mentorship, offering both technical and life skills to help the girls thrive in the workforce. In 2023 alone, the program has trained 112 girls from across Kenya’s 47 counties. Each participant received a laptop, internet access, and a six-month mentorship after graduation. “The fulfilment of SDG 5, Gender Equality, requires commitment to mentorship, which creates a ripple effect that will last for generations,” said Catherine Wangari. Betty Mwende, an alumnus of the African Girls Can Code Initiative (AGCCI), has made a significant impact by imparting basic digital literacy to fifth and sixth graders in Meru County, thanks to a $1,000 award from the Mastercard Foundation. ‘Watching these kids engage with computers for the very first time is nothing short of magical,’ she shared.” Way Forward “It will take a collaborative effort to create a conducive environment where both girls and boys can thrive in ICT,” said Donna Regge. Anie Akpe reiterated that sustained consultations among stakeholders are essential for defining the pathway toward segmented investments and inclusive policies that empower women in ICT. Anna Mutavati emphasized the need for fostering an environment that encourages participation and provides necessary resources, striving for a future where women not only participate in technology spaces, but lead from the front. “By embracing persistence and the desire to change the status quo, you earn a seat at the table,” concluded Wanja Murekio.
Jul23121 MEA | Q4 2024 13 The Game-Changing Benefits of Cloud-Based ERP Systems he truth of the matter is – if you want to stay ahead of the competition – you need to be more efficient, and more adaptable, than they are. One of the most game-changing tools available to businesses today is cloud-based Enterprise Resource Planning (ERP) software. Unlike traditional ERP systems that need heavy on-site infrastructure and constant upkeep, cloud-based ERPs offer a flexible, scalable, and cost-effective solution that can significantly boost your profitability and productivity. In this article, we’ll go into a little detail about the incredible benefits of cloud-based ERP systems, why outdated ERP systems and patchwork solutions drag your business down, and the unique advantages of using QuickEasy ERP in South Africa. Why Legacy ERP Systems and Patchwork Solutions Hold You Back 1. They’re inflexible, and expensive Legacy ERP systems, typically hosted on-premises, come with significant upfront costs for hardware, software licences, and IT infrastructure. On top of that, these systems need constant maintenance, updates, and patches, all of which require a dedicated IT team. This results in high operational costs and a lack of flexibility. As your business grows or your needs change, scaling an on-premise ERP system is both challenging and expensive, limiting your ability to respond swiftly to market changes. 2. Your systems can’t or won’t talk to each other If you rely on a patchwork of different software tools and manual processes, you’re likely dealing with data silos. This is where information is trapped in different departments or systems and isn’t easily accessible across your organisation. This fragmentation leads to inefficiencies, as your team spends valuable time manually consolidating data from various sources, increasing the risk of errors. The lack of integration also hampers real-time visibility into your operations, making it harder for you to make quick, informed decisions. 3. They’re heavy on manual admin and you have no clarity Despite the digital age, some businesses still rely heavily on paperwork for record-keeping, invoicing, and other crucial processes. Paper-based systems are not only slow but also prone to errors, loss, and damage. Relying on physical documents also makes it tougher to stay compliant with regulations, especially in industries where record-keeping standards are strict. More importantly, they provide little to no visibility into your current operations. This slows down your decision-making processes and negatively impacts customer service. The truly amazing benefits of cloud-based ERP systems Cloud-based ERP systems solve the problems of legacy and patchwork systems. They give you a unified, scalable, and efficient platform to manage all aspects of your business. Here are some of the compelling benefits to think about when you choose an ERP system. 1. They’re cost-effective and have a Lower Total Cost of Ownership (TCO) One of the biggest advantages of cloud-based ERP systems is their cost-effectiveness. Unlike on-premise systems, cloud-based ERPs don’t require large upfront investments in hardware and infrastructure. The cloud provider takes care of the software, servers, and data storage, which significantly cuts down maintenance costs. You typically pay a subscription fee based on usage, which can be scaled up or down as needed. This flexibility allows you to better manage your budget and reduce the total cost of ownership over time. 2. They are way more flexible and scalable Cloud-based ERPs offer unmatched scalability. As your business grows, your ERP needs will evolve too. Cloud solutions allow you to increase or decrease usage based on demand, without the need for major capital investments or lengthy deployment times. This flexibility is a major advantage for businesses experiencing rapid growth or operating in highly dynamic markets. With cloud-based ERP, you can quickly adapt to changes in demand, market conditions, or organisational structure. 3. You have real-time clarity, and it’s so much easier to collaborate Cloud-based ERP systems are accessible from anywhere with an internet connection. This is a huge plus in today’s increasingly remote and hybrid work environments. Your employees, managers, and stakeholders can access real-time data and insights from any location. This encourages better collaboration and more informed decisionmaking. This level of accessibility isn’t possible with traditional onpremise ERP systems, which are usually limited to specific locations and networks. 4. You have peace of mind with better data security and compliance Cloud-based ERP providers invest heavily in data security and compliance, often surpassing the capabilities of many on-premise IT departments. These providers use advanced security measures such as encryption, multi-factor authentication, and regular security audits to protect your sensitive data. Additionally, cloud ERP solutions are often compliant with industry standards and regulations. This helps you avoid costly fines and reputational damage associated with non-compliance. 5. Effortless, automatic updates and continuous innovation A major drawback of legacy ERP systems is the need for manual updates and upgrades, which can be time-consuming and expensive. Cloud-based ERP systems, on the other hand, are continually updated by the provider. This means you always have access to the latest features, security patches, and technological advancements without needing disruptive and costly upgrades. Automatic updates ensure your business can continuously innovate and stay ahead of the competition. Switching to a cloud-based ERP system presents a massive opportunity for you to boost your efficiency, scalability, and profitability. By moving away from outdated systems, patchwork solutions, and paperwork, you can take advantage of the flexibility, cost savings, and innovation that cloud-based ERPs like QuickEasy offer. Whether you’re a small business looking to streamline operations or a larger enterprise aiming to stay competitive in a dynamic market, the benefits of cloud-based ERP systems are clear. By carefully considering your specific needs and evaluating the options available, you can make an informed decision that sets your business on the path to sustained growth and success. T
MEA | Q4 2024 14 How the Digital Revolution in the Middle East and Africa is Opening the Global Trading World Through Online Trading Platforms nline trading has been adopted by markets around the globe, including the Middle East and Africa regions. With digital financial markets becoming more accessible, individuals in these regions can get direct access to the global trading world, and access tools and materials for investments and managing finances. As online trading platforms and mobile apps continue to become more and more accessible, more people are exploring to leverage online trading offers. The rise of online trading in the Middle East and Africa The financial markets in the Middle East and Africa are experiencing transformations driven by technological advancements and increasing internet penetration in these regions. According to the World Bank, over 160 million African gained broadband internet access between 2019 and 2022, with similar increasing trends in the Middle East. It is the surge in connectivity that is driving the growth of online trading in both regions. With online trading, individuals can buy and sell financial instruments through digital platforms. These include stocks, currencies, commodities, and indices. There are various advantages with this format, including accessibility, real-time trading, and lower transaction costs for traders. It is especially the accessibility factor that has been a key driver, as it democratizes trading, making it possible for anyone with an internet connection and a small capital to participate in the global financial markets. An introduction to trading accounts To get started with online trading, opening a trading account is the crucial first step. To put it simple, a trading account is the platform on which individuals can execute trades and manage their investments. With various types of trading accounts, it is possible to set up accounts catering to different needs and preferences. One type of account is a cash account, which requires the full payment of the purchase price of securities before one can finish the transaction. This type of account is great for beginners looking for a simple and straightforward trading process. A margin account is an account where it is possible for traders to borrow money from the brokage to trade larger amounts than their current account balance. This is a great opportunity for people with little capital to get started in trading, however even though it can amplify profits, it can also increase the risk of losses. The significant Muslim population in the Middle East and parts of Africa has led to many brokers offering Islamic accounts. These accounts comply with Sharia law and are an option for anyone who wants to remain halal in their trading practice. Lastly, there are demo accounts, which are the best way for newcomers to start: These demo accounts offer risk-free practicing of trading, since they simulate real market conditions, but allow the trader to use virtual money. Selecting a trading app A vital tool for modern traders is trading apps, which provides a convenient way to manage investment portfolios whenever and wherever. There are several factors to consider when choosing a trading app, with the main one being looking at the user interface. It is important to find a user-friendly interface to make trading more efficient, since the app should be intuitive and easy to navigate. A good trading app should also contain a range of features such as real-time market data, technical analysis tools, and news updates. Other tools that can enhance trading experience include advanced charting tools and automated trading options. A paramount part of online trading is security. When choosing an app, look for apps that use encryption and other security measures, to ensure your personal and financial information is protected. It is also worth choosing an app with reliable customer support, so you can gain support in resolving issues and getting assistance when needed. The impact of regional factors There are several regional factors that influence online trading in the Middle East and Africa. One example is from the Middle East, where economic diversification efforts in Saudi Arabia and the United Arab Emirates (UAE) have resulted in greater investment opportunities and a growing interest in financial markets. In Africa, the rapidly growing tech sector and increasing mobile penetration are both paving the way for new avenues for online trading. Another important aspect in these regions is geopolitical stability and regulatory environments. Investors tend to be more attracted to countries with stable political climates and well-defined regulatory frameworks. Ine example is the financial markets of the UAE which are well-regulated, making it a safe environment for traders. Considerations and challenges in trading There is no doubt about the endless opportunities that online trading holds. However, as with so much else in life, these positive sides also come with a negative backside. It is worth remembering that financial markets can be highly volatile in emerging economies, which means traders should be prepared for rapid changes in market conditions. In addition, regulatory environments vary between countries, which adds responsibility to traders to understand trading activities in their own region. However, the digital transformation is shaping the financial markets in the Middle East and Africa, providing new opportunities for individuals which were not possible before. With a trading account on a reliable trading app, any individual in these regions can take part in the global financial markets. O
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