Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Fintech PR

EMpact launches its venture studio in Central America, heralding a new approach to impact investing in frontier markets

Published

on

empact-launches-its-venture-studio-in-central-america,-heralding-a-new-approach-to-impact-investing-in-frontier-markets

Plans underway for subsequent launches in Africa and Central Asia

ANTIGUA, Guatemala  , Oct. 1, 2023 /PRNewswire/ — Today witnessed the launch of EMpact, a venture studio focused on nurturing talent and accelerating startups to serve critical value chains, focusing on frontier markets in Central America, West Africa, and Central Asia. The first studio is a collaboration between EMpact and Fundación Génesis Empresarial (Genesis), the largest development microfinance institution in Guatemala. The studio will promote entrepreneurship and capacity building across the Central America region through the “Innovation and Entrepreneurship Hub” of Genesis and Universidad Francisco Marroquín – (UFM) a leading academic institution in the country, which promotes free market principles and entrepreneurship.

“The issues facing humanity and our planet are interlinked, and a big part has to do with how we access, cultivate, and sustain natural resources, including agriculture and forestry”, said Sami Lahoud and Prateek Shrivastava, co-founders of EMpact. “Catalyzing innovations in agriculture value chains, through entrepreneurship, creates stability and opportunity in frontier markets while sustaining the global economy and restoring our planet through sustainable practices”, they added.

The studio addresses the most critical issue facing entrepreneurship in frontier markets, which is the upskilling of talent. Individuals are invited to apply to become “EMpact fellows” who will be coached in innovation and entrepreneurship. Then, the studio will help fellows design digitally enabled solutions that address the needs and pain-points of its corporate partners. And finally, incubated businesses will graduate into a startup accelerator that will help each team turn their solutions into investment-ready businesses through mentorship, access to essential shared services, and opening doors to additional corporate partners.

The EMpact model also allows for winning solutions, whether incubated by EMpact or operating independently, to be replicated by fellows in other markets or verticals. The first such portfolio company is Climatica, a solution that accelerates financial inclusion of small holder farmers through climate smart agriculture.

“Fighting poverty through empowerment and improving food security in the face of climate change are daunting and expensive undertakings”, said Lars Saquero Møller, Managing Director of Ingemann Data, that operates Climatica. He added “EMpact provides a framework to scale the outreach of innovative solutions, such as ours, to address these challenges. Their fresh approach and value proposition are needed to disrupt the traditional system.”

The design of the EMpact venture studio has been inspired by the pioneering work of CK Japheth, Founder of The Innovation Village in Uganda and a member of the EMpact Advisory Board, who said “We recognized that embracing models tailored to mature markets would not work for us, so we embarked on a journey of unbridled innovation, fueled by a relentless passion to make a difference. Every lesson we’ve gathered has led us to this vibrant collaboration with EMpact”.

Advertisement

The EMpact studio in Guatemala will ultimately serve the Latin American region. In parallel, the founders of EMpact are preparing for the launch of EMpact Africa from a studio in Côte d’Ivoire serving the Francophone West Africa region. At a later stage, the plan is to include additional frontier markets such as the ones in Central Asia, and to start interconnecting these markets, capitalizing on their organic similarities and complementarities.  

Media Contacts

Sami Lahoud, +1 914 393 5711, [email protected] 

About EMpact

EMpact is a venture studio serving critical value chains in frontier markets by addressing chronic issues afflicting these markets and affecting our planet. EMpact drives change through the incubation of talent, then creating and incubating businesses that address the needs of key players in these value chains with focus on agriculture. The final step in this venture studio model is to extend pre-seed equity funding to the budding startups, handhold them through the initial phase of their growth journey, and then – over time – hand them over to later stage investors. 

www.empact.studio 

Photo: https://mma.prnewswire.com/media/2236106/EMpact.jpg
Logo: https://mma.prnewswire.com/media/2235664/EMpact_Logo.jpg

Cision View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/empact-launches-its-venture-studio-in-central-america-heralding-a-new-approach-to-impact-investing-in-frontier-markets-301943818.html

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Fintech PR

President Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB

Published

on

president-emmerson-mnangagwa-met-this-week-with-zambia’s-former-vice-president-and-special-envoy-enoch-kavindele-to-discuss-sadc’s-candidate-for-the-afdb

President Mnangagwa, who is SADC Chairperson, reaffirmed his own country’s and SADC’s enthusiastic support for Zambian candidate Sam Maimbo

LUSAKA, Zambia, Dec. 20, 2024 /PRNewswire/ — Special Envoy Kavindele released the following statement following the meeting:

“I am elated to witness the growing success and momentum of Sam Maimbo’s candidacy to become the next President of the African Development Bank. I am filled with gratitude to our friends across both SADC and COMESA for their continued support and good wishes.

Sam has garnered such wide consensus due to his being uniquely qualified to deliver the transformative change and empowerment our continent needs. Sam’s 30 years in development work is defined by driving outcomes, improving processes, and investing in people. The AfDB needs a hands-on leader who is laser focused on delivering results and who is unafraid of making tough decisions in order to best serve our continent. Sam is that leader. Sam has the track record and experience to drastically enhance the pace, scale, and impact of the Bank’s work in service of the people and governments of Africa.

Our region has a proud history of supporting fellow Southern Africans. For example, we all recall Lusaka’s role in hosting the African National Congress’ headquarters during the dark days of Apartheid oppression.

It therefore gives me no pleasure to observe my South African brothers, who have themselves leant on Zambia’s steadfast friendship over many decades, fail to rally behind both SADC and COMESA’s chosen candidate for the AfDB. Africa’s urgent economic development challenges demand transformational leadership at the AfDB, it is all of our responsibility to put forward the best candidate for the job. This is not the time or place for a government to act with narrow self-interest, we all must act in the continent’s and AfDB’s best interest.

I thank Sam Maimbo for his lifelong service to our entire continent, and I am eager to witness his enormous impact as President of the AfDB.”

View original content:https://www.prnewswire.co.uk/news-releases/president-emmerson-mnangagwa-met-this-week-with-zambias-former-vice-president-and-special-envoy-enoch-kavindele-to-discuss-sadcs-candidate-for-the-afdb-302337613.html

Continue Reading

Fintech PR

Stay Cyber Safe This Holiday Season: Heimdal’s Checklist for Business Security

Published

on

stay-cyber-safe-this-holiday-season:-heimdal’s-checklist-for-business-security

LONDON, Dec. 20, 2024 /PRNewswire/ — Heimdal Security shares a practical holiday cybersecurity checklist, offering expert insights to help businesses safeguard against cyber threats this festive season.

With reduced staffing, remote work setups, and a surge in online shopping creating heightened vulnerabilities, this guide offers actionable tips to enhance business security.

Going beyond basic advice, the checklist also highlights the most common holiday scams and features videos showcasing real-life examples of Christmas-themed cyber scams and effective prevention strategies.

Key Tips to Protect Businesses This Holiday Season:

  1. Strengthen endpoints: Ensure devices are updated with antivirus and endpoint protection software; consider Endpoint Detection and Response (EDR) and application whitelisting.
  2. Prepare for phishing spikes: Train staff to identify suspicious emails, enforce robust email filters, and establish protocols for reporting unusual activity.
  3. Secure remote access: Mandate VPN usage, monitor unusual logins, and deactivate inactive accounts temporarily.
  4. Segment and shield networks: Isolate sensitive areas, deploy DNS security and advanced firewalls, and maintain full visibility over network traffic.
  5. Apply timely patches: Regularly update all systems and test patches in a controlled environment to minimize disruptions.
  6. Mitigate supply chain risks: Assess vendors thoroughly and limit their access to essential systems.
  7. Have a response plan ready: Tailor incident protocols for the holidays, create an on-call rotation for the IT team, and enable rapid action against suspicious activity.

Cybercriminals thrive on holiday distractions, but with proactive measures like phishing training, secure endpoints, and network segmentation, businesses can stay ahead of potential threats,” said Alex Panait, System Administrator at Heimdal Security.

Common Holiday Scams That Businesses Should Watch For:

Cybercriminals often tailor their tactics to exploit the festive season. The most common scams include:

  • Spear phishing: Emails disguised as holiday bonuses or event invitations that steal credentials or spread malware.
  • Malicious holiday E-Cards: Festive greetings that contain links deploying ransomware or spyware.
  • Fake E-Commerce sites: Fraudulent websites offering discounts to steal payment information.
  • Insider threats: Distracted or disgruntled employees mishandling or exploiting sensitive data.
  • Corporate travel scams: Fake booking platforms targeting business travelers.
  • Business email compromise (BEC): Fraudulent requests for urgent wire transfers during year-end financial rushes.

For more, read the full article here or watch the video on YouTube to see how these threats unfold and learn actionable prevention strategies.

About Heimdal:
Established in Copenhagen in 2014, Heimdal® empowers CISOs, security teams, and IT administrators to improve their security operations, reduce alert fatigue, and implement proactive measures through a unified command and control platform.

Heimdal’s award-winning cybersecurity solutions span the entire IT estate, addressing challenges from endpoint to network levels, including vulnerability management, privileged access, Zero Trust implementation, and ransomware prevention.

For further press information:

Madalina Popovici
Media Relations Manager
[email protected] 

Advertisement

 

View original content:https://www.prnewswire.co.uk/news-releases/stay-cyber-safe-this-holiday-season-heimdals-checklist-for-business-security-302337465.html

Continue Reading

Fintech PR

According to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004

Published

on

according-to-tickmill-survey,-3-in-10-britons-in-economic-difficulty:-purchasing-power-down-41%-since-2004

The people who have the most problems are women (30%) and are between 35 and 49 years old (39%)

ROME, Dec. 20, 2024 /PRNewswire/ — The purchasing power in the UK has dropped by 41% over the last 20 years. Today, £100,000 left in a bank account since 2004 without being invested would now be worth £59,021.

This figure is one of the findings from a study conducted by Tickmill, an international online trading broker that compared the economic situation in the UK and the European Union through the infographic “Purchasing Power and Cost of Living: UK vs EU”.

The analysis reveals a slight decline of 0.4% in the UK’s purchasing power, which currently stands at £41,573. In contrast, the European Union has seen a modest rise of 0.1%, reaching £40,874.

Why is purchasing power declining in the UK? One key factor is the cost of living. If the UK were still part of the European Union, it would rank as the fifth most expensive country, behind Ireland, Luxembourg, Denmark, and the Netherlands.

Unsurprisingly, 3 in 10 Britons are struggling with the cost of living. Women (3 in 10, compared to 25% of men), those aged between 35 and 49 (4 in 10), households earning less than £15,000 (6 in 10), and single parents (1 in 2) are among the most affected groups.

Among UK nations, Northern Ireland is the hardest hit, with 34% of its population facing financial difficulties, followed by Wales (31%), England (28%), and Scotland (22%). In England, the North East has the highest percentage of people struggling, with 4 in 10 residents affected. Even in London, the high costs impact 1 in 4 adults.

Advertisement

In response to these challenges, Britons are making significant adjustments:

  • 53% have cut back or delayed spending on smaller items like eating out, entertainment, subscriptions, clothing, toys, books, etc.;
  • 52% have reduced household energy consumption;
  • 48% have decreased their grocery spending;
  • 41% have scaled back or postponed major expenditures, such as holidays, cars, and weddings;
  • 26% are working longer hours, taking on overtime, or pursuing additional jobs to earn extra income.

The British also made changes on the financial side. One in four adults has been forced to dip into their savings or investments to cover daily expenses. Moreover, 44% have stopped saving or investing entirely or have reduced their savings and investments—a 4% increase compared to 2023.

The lack of investment is another critical factor contributing to the decline in purchasing power. It is estimated that 13 million UK residents hold £430 billion in cash deposits but do not invest. The reasons? Seventy-four percent say they cannot compare investment products effectively, and 43% are afraid of losing their money.

A lack of knowledge and fear are preventing many savers from taking advantage of an important opportunity: preserving or increasing their purchasing power in the long term.

Photo: https://mma.prnewswire.com/media/2586123/Tickmill.jpg
Logo: https://mma.prnewswire.com/media/2586129/Tickmill_Logo.jpg

Cision View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/according-to-tickmill-survey-3-in-10-britons-in-economic-difficulty-purchasing-power-down-41-since-2004-302337354.html

Continue Reading

Trending