Latest news with #digitalecosystem
Zawya
7 days ago
- Business
- Zawya
Senegal's tech ecosystem thrives as tech hub evolves
OPTIC, Senegal's leading organization for tech professionals, has worked for three years with the Netherlands Trust Fund (NTF) V project at ITC to improve its services. Together we've improved Senegal's entire digital ecosystem by investing in new skills and opportunities. Positive spin-offs for Senegal's digital ecosystem OPTIC, the Organisation des Professionnels des Technologies de l'Information et de la Communication, has a long-standing and fruitful collaboration with ITC. They've worked with the current NTF V project, which is now winding down, as well as the previous NTF IV project. The project supports Senegal's efforts to grow its economy with digital technology. That includes both information technology (IT) companies, and business process outsourcing (BPO) firms that offer back-office services to international businesses. 'NTF's support has enabled us to establish our legitimacy and intensify our efforts in the Senegalese tech ecosystem,' said Antoine Ngom, President of OPTIC. 'Dozens of IT and BPO start-ups have benefited from this initiative, not to mention the indirect spin-offs that have benefited the entire tech economy.' OPTIC has set itself several goals: to create a regulatory environment conducive to growth and innovation; to improve the skills and competitiveness of players on international markets; and to foster partnerships. 'Our members have been able to seize international development opportunities thanks to personalized coaching sessions, as well as work on their pitch and sharpen their fund-raising skills through specialized training courses. Participation in leading B2B events, both national (SIPEN) and international (VivaTech, Africarena, GITEX International), considerably increased their visibility and expanded their professional network. A 360° diagnosis helped them to identify levers for improving their company's performance, while certification support opened doors to national and international public procurement markets, synonymous with new growth prospects. The agritech community also benefited from a number of thematic meetings and a mapping of solutions.' Strengthen achievements and maintain regional influence OPTIC also received comprehensive, structuring support from the NTF V Project. After a performance diagnosis, OPTIC restructured its governance, revised its fundamental texts, and defined its recruitment needs for the permanent secretariat. 'Cooperation between OPTIC and the NTF V project has also helped to make the SIPEN trade show a major focal point for players in the African digital economy. And that's not counting the technical support we've provided for workshops, digital mornings and other ThémaTIC breakfasts that benefit Senegal's Tech community,' said Ngom. All these initiatives have contributed to the emergence of the Digital Senegal consortium and to the realization of promising partnerships with players such as Sen Startup. 'There's no doubt that the NTF V project has helped OPTIC to strengthen its leadership capabilities and increase its regional influence. We've seen a significant increase in membership over the past few years,' added Ngom, who hopes to build on this positive impact over the long term. Now that the trade organization has secured a plot of land on which to build its future head office, achieving financial autonomy is a new challenge. 'We want OPTIC to reinforce its position as a key digital player in Senegal and more widely in West Africa. To achieve this, we plan to boost our regional cooperation and support dialogue with public authorities more than ever. To continue our work, diversify our best practices and develop profitable activities, we are launching an appeal to national and international partners,' he said. Ngom hopes a future NTF VI project will be part of that. About the project The Netherlands Trust Fund V (NTF) programme (July 2021 – June 2025) is based on a partnership between the Netherlands Ministry of Foreign Affairs and the International Trade Centre. NTF V supports SMEs in the digital technology and agribusiness sectors in Benin,Côte d'Ivoire, Ethiopia, Ghana, Mali, Senegal and Uganda. Its ambition is to contribute to an inclusive and sustainable transformation of agri-food systems partly through digital solutions, to improve the international competitiveness of local tech start-ups and to support the implementation of the export strategy of IT&BPO companies. Distributed by APO Group on behalf of International Trade Centre.
Yahoo
23-05-2025
- Business
- Yahoo
Halyk Bank of Kazakhstan JSC (STU:H4L1) Q1 2025 Earnings Call Highlights: Strong Net Interest ...
Release Date: May 20, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Halyk Bank of Kazakhstan JSC (STU:H4L1) reported a 30% year-on-year increase in net interest income for Q1 2025. The bank's digital ecosystem, particularly the Helix Superra app, saw significant growth with a 30% increase in transaction volume and 7.7 million monthly active users. Halyk Bank holds a strong market position with a 28.8% market share in deposits and a 20% market share in retail loans in Kazakhstan. The B2B segment showed robust performance with a 22.4% growth in the corporate loan book and a 29% increase in the number of payments processed. The bank's net interest margin improved to 7.5% in Q1 2025, up from 7% in Q1 2024, indicating efficient interest income management. There was a slight increase in non-performing loans (NPLs), which rose from 6.3% to 6.8% due to a moratorium on selling problem retail loans to collection agencies. The bank faces potential impacts from a new tax code, including a proposed 10% tax on excess profits, which could affect future earnings. Operating expenses increased by 22.2% year-on-year, driven by salary indexation and employee benefits, impacting the cost-to-income ratio. Retail loan growth was slower in Q1 2025 compared to previous years, partly due to economic challenges and inflationary pressures. The bank's ability to manage retail NPLs is constrained by regulatory restrictions, potentially affecting the NPL ratio and cost of risk. Warning! GuruFocus has detected 5 Warning Signs with STU:H4L1. Q: Can you give us a sense of the impact of the new tax code on your SME loan book growth and quality? A: The new tax code discussions are ongoing, with some changes potentially affecting 2025 results, but most changes will impact from 2026. A proposed 10% tax on excess profits, including state securities and repo transactions, is being discussed. The exact impact is unclear, but it's expected to be immaterial in the context of overall bank results. (Unidentified_4) Q: Do you see a need to revise your guidance for this year given the changes to the tax regime? A: We typically update guidance after publishing six-month results. Current tax code discussions are ongoing, and without final wording, updating guidance is premature. Broader tax code changes will be implemented from January 1, 2026, affecting operations from 2026, not 2025. (Unidentified_4) Q: Why did the regulator impose a ban on selling retail NPLs to collection agencies, and how does it affect your NPL ratio and cost of risk? A: The moratorium was implemented on April 1, 2024, lasting until April 1, 2026, complicating NPL management by delaying cash flow realization. This has impacted the NPL ratio, but we do not see deterioration in portfolio quality. We expect future retail loans to have higher quality due to tightened credit policies. (Unidentified_9) Q: Are you experiencing more competition for retail deposits compared to a year ago? A: Yes, competition for retail deposits has increased, leading to interest rate hikes by several banks. Despite this, our retail deposits have performed well, with minor reductions attributed to currency appreciation. (Unidentified_4) Q: What is the impact of the excess profit tax on state securities, and how does it affect your effective tax rate? A: The excess profit tax on state securities and potentially repo transactions is expected to be relatively immaterial. The effective tax rate for this year is uncertain due to ongoing discussions and potential changes in regulation. (Unidentified_4) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Trade Arabia
17-05-2025
- Business
- Trade Arabia
Astra Tech, 7X in deal to advance digital financial services
Astra Tech, the leading consumer technology holding group behind Botim, has announced a strategic partnership with 7X, the investment holding group in trade, transport, and logistics. The agreement, formalized during the Dubai FinTech Summit (DFS), sets the stage for an integrated digital ecosystem that combines financial services, logistics, and last-mile delivery, advancing the UAE's vision for a connected, inclusive, and innovation-driven economy. The collaboration will enhance access to secure, compliant, and customer-centric services by embedding remittance capabilities, salary processing via both Wages Protection System (WPS) solutions through the innovative Botim Salary Card, and digital payment tools into everyday platforms, said the statement from Astra Tech. It also catalyzes future enhancements, including AI-powered address verification, last-mile delivery integration, and expanded payment acceptance points. Astra Tech's WPS solution, the Botim Salary Card, will be rolled out to FINTX's (the fintech arm of 7X) extensive customer base, marking a significant expansion in salary disbursement capabilities across businesses' clientele through a trusted and compliant delivery network. FINTX plays a central role in this collaboration, reinforcing its mandate as a trusted financial enabler and expanding the reach of UAE-born fintech capabilities across all user segments and geographies. In addition, the agreement also explores new avenues to expand Botim's international remittance services through FINTX's global financial network, connecting users to agent locations worldwide. By embedding this infrastructure into the Botim app, users will be able to send and receive cross-border remittances quickly and securely from within the platform they already use every day. This expansion positions Botim as a comprehensive financial services platform meeting the everyday needs of both domestic and international users. The collaboration also lays the groundwork for a broader range of fintech and logistics innovations. These include wallet top-ups and eKYC services at FINTX's Wall Street Exchange branches, enabling Botim Wallet payments at 7X retail locations, deploying point-of-sale systems to support SME digitization, and improving last-mile delivery logistics. Other areas under exploration include address verification powered by the WAYN platform, UAE's Digital P.O. Box, to support verified deliveries and secure digital identities. WAYN's integration will enable more secure, reliable communication and transactions across Botim's user base, contributing to the national digital infrastructure. It will also explore corporate payment integrations via WASLAH, the comprehensive logistics platform by 7X. On the deal, COO Ahmed Mourad said the partnership with 7X represents a major leap forward in Astra Tech's mission to redefine access to digital finance across the region. He noted that embedding financial tools into everyday digital experiences is not only about convenience but about building a sustainable infrastructure for long-term financial empowerment. Tariq Al Wahedi, Acting Group CEO of 7X, said: "This partnership reflects our unwavering commitment to shaping a future where finance, logistics, and technology converge to serve people better. By joining forces with Astra Tech, we are advancing our shared commitment to supporting national priorities in digital transformation and empowering communities through accessible, integrated, and secure financial and last-mile services." "This collaboration is a pivotal milestone in our roadmap to position 7X as a regional force in digital finance and smart trade infrastructure. We will be unlocking new opportunities to simplify how people move money, goods, and services, laying the foundation for a seamless, customer-centric ecosystem that is built for scale, inclusion, and innovation," he added.- TradeArabia News Service
Arabian Business
14-05-2025
- Business
- Arabian Business
Dubai free zone launches 60-minute business licence service
A free zone in Dubai is offering entrepreneurs an express business licence service to get up and running in one hour. Meydan Free Zone officially launched Fawri, a new service that enables entrepreneurs to obtain a complete business licence in just 60 minutes. Meydan Free Zone says the platform redefines the speed and simplicity of company formation in Dubai, empowering founders to launch their businesses with unprecedented efficiency. Dubai free zone licence Fawri is a fully digital, all-in-one licensing solution designed specifically for solo entrepreneurs. With a seamless application process, eligible individuals can receive all core legal documents in an hour, including Business licence Certificate of formation Share register Memorandum and articles of association Lease agreement Mohammad Bin Humaidan Al Falasi, Strategic Director of Free Zone Licensing at Meydan Free Zone, said: 'Fawri is more than a product — it's a statement of intent. It reflects our deep belief that the entrepreneurial journey should begin with clarity, speed, and confidence. 'With Fawri, we are setting a new benchmark for business setup in the UAE — one that is digital, founder-first, and globally competitive. Upon issuance of licence under 60 minutes, entrepreneurs can immediately begin the visa application and corporate bank account setup process through Meydan Free Zone's integrated digital ecosystem. 'Fawri ensures that business owners are not just licensed but operational within the same day.' Available for more than 1,800 approved business activities across diverse sectors such as e-commerce, consulting, trading, education, and fintech, Fawri provides unmatched flexibility. Entrepreneurs can combine up to three activity groups under one licence, with the freedom to operate across different industries. Built for speed, simplicity, and security, Fawri includes automatic eligibility checks and a transparent pricing model with no hidden fees. Priced at AED15,000 ($4,100), the license includes one complimentary amendment in the first year, giving entrepreneurs room to evolve as their business grows. Fawri also offers 100 per cent foreign ownership, zero paid-up capital requirements, full repatriation of capital and profits, and freedom to lease office space anywhere in Dubai with DET approval. Meydan Free Zone's offers excellent service and a time-bound money-back guarantee — a first in the region. The launch of Fawri reinforces Meydan Free Zone's commitment to driving digital transformation, enabling founder-led businesses, and making Dubai the destination of choice for global entrepreneurship.
Entrepreneur
13-05-2025
- Business
- Entrepreneur
Billdesk's M N Srinivasu Elected IAMAI Chairman for 2025–2027
Joining him on the executive council are Harshil Mathur, CEO and Co-founder of Razorpay, as Vice Chairman, and Sameer Nigam, Founder and CEO of PhonePe, as Treasurer. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. The Internet and Mobile Association of India (IAMAI) has announced the results of its biennial governing council elections. M N Srinivasu, Co-founder of Billdesk, has been elected the new Chairman, taking over from Harsh Jain, Co-founder and CEO of Dream Sports. Joining him on the executive council are Harshil Mathur, CEO and Co-founder of Razorpay, as Vice Chairman, and Sameer Nigam, Founder and CEO of PhonePe, as Treasurer. They succeed Rajesh Magow, Co-founder and Group CEO of MakeMyTrip, and Satyan Gajwani, Vice Chairman of Times Internet, respectively. The new executive leadership—Srinivasu, Mathur, and Nigam—will serve alongside IAMAI President Dr Subho Ray, who continues as the ex officio member. Together, they will lead the Association's 24-member governing council for the 2025–2027 term. The official handover will take place at IAMAI's upcoming annual general meeting. IAMAI, a not-for-profit industry body with over 600 members including major Indian and global digital firms, has played a key role in advancing India's digital ecosystem. It promotes fair competition, progressive regulation, startup growth, consumer safety, and digital trust. With its new leadership, the Association aims to further strengthen its efforts in policy advocacy, research, and industry collaboration to support India's evolving digital economy.
