Fintech PR

NESPRESSO WILL INVEST 20 MILLION USD IN DRC TO SUPPORT THE COFFEE GROWING COMMUNITY AND THE REVIVAL OF THE SPECIALTY COFFEE

Published

8 months ago

March 27, 2024

nespresso-will-invest-20-million-usd-in-drc-to-support-the-coffee-growing-community-and-the-revival-of-the-specialty-coffee

Focusing on an increased sourcing of high-quality coffee, as well as implementing regenerative practices, gender equality programs and projects to increase access to healthcare and clean water.

VEVEY, Switzerland, March 27, 2024 /PRNewswire/ — Nespresso aims to continue to support the local community and economy by investing 20 million USD spent across coffee purchases, price premiums and technical assistance, by 2026 in the Democratic Republic of Congo (DRC), helping to give coffee farmers access to the global markets. The ambition is also to help support fund raising of an additional 20 million USD to support the coffee growing communities in Kivu. This initiative is part of the unique Nespresso Reviving Origins program, founded 10 years ago, aiming to restore coffee agriculture in regions where it is under threat.

In 1980, coffee was the second most important export for DRC and ranked among the world’s finest but declined in the early 2000s due to years of instability that had a devastating impact on the industry.

Since the launch of the Nespresso Reviving Origins program in DRC in 2020 it has enabled the production of the exquisite coffees from the Lake Kivu region, where the once-thriving coffee farming community has been, and still is, devastated by decades of political and economic instability, that continue to rise today.

Guillaume Le Cunff, CEO Nespresso says, “Kivu has the potential to be among the world’s great coffee regions but has faced extremely challenging conditions in recent years. Through our Reviving Origins program, we work closely with Congolese farmers, and we have joined forces with partners including, Eastern Congo Initiative (ECI)/ASILI, TechnoServe, the U.S. Agency for International Development (USAID), The Global Environment Facility (GEF), Clarmondial, International Union for Conservation of Nature (IUCN), and Virunga Coffee to restore and revitalize Kivu as a leading source of high-quality, exceptional Arabica coffee. In the context of escalating violence in eastern DRC where access to water is becoming insufficient, water-borne illnesses have resurfaced, and daily life is under significant upheaval, it is even more critical to help build community resilience, access to health care and clean water as well as support farmer livelihoods by continuing to give them access to the global market and empowering them in their agricultural transition.”

With the continued investment of 20 million USD in the region, as well as with the ambition to support to raise funds of another 20 million USD, Nespresso aims to continue the work to back the revival of the DRC coffee sector.

“Nespresso’s deep commitment to Kivu is creating lasting change in communities across the region. In our work together equipping farmers with the knowledge and market connections they need to thrive, we have seen the transformative impact that coffee can have in Kivu,” said TechnoServe CEO William Warshauer. “We believe this initiative will help inspire other companies to invest there.”

Abraham Leno, Executive director of ECI says, “Since we started working together, we have built a large health center and an entire water system in the farming community of Minova. Today, our medical team provides safe deliveries and gets hundreds of kids ready for school. More than 22,000 people from the local community have access to clean water, and as displacement soars, we are a primary source of water for thousands of families fleeing violence. With the continued support from Nespresso, we aim to continue this work, expanding dignified and sustainable access to clean water and healthcare.”

Nespresso’s unique sustainable green coffee sourcing program, the Nespresso AAA Sustainable Quality™ Program, provides the foundation for the work in the Reviving Origins program. For 20 years, the AAA Program has built strong relationships with coffee farmers across the world to protect the nature and life in landscapes where coffee is grown and to strengthen communities’ resilience. When supporting to rebuilding and reviving the coffee sector in DRC, Nespresso will further deploy the AAA Program and support the farmers in implementing regenerative practices such as crop diversification, stumping, soil health improvement, agroforestry etc. Via the AAA Program Nespresso will also implement a biodiversity tracking tool using DRCs unique birdlife.

Other important projects within the AAA Program in DRC are gender equality trainings. By advancing gender equality this can have a significant impact on coffee quality and productivity and the livelihoods of coffee farming communities. To date concrete examples of actions to reduce gender disparities and increase women´s empowerment includes the increase of women agronomists, currently in DRC 42% of the agronomists are female, trainings for farmers that increase women’s empowerment, such as financial literacy, household nutrition, “Safe Spaces” gender training and women’s leadership.

Finally, since 2020 Nespresso have been collaborating with an impact digital start-up to verify and trace the coffee by harnessing the power technology. The platform will automatically verify that farmers receive the right payment (including the Nespresso AAA Sustainable Quality™ Program premium) for the high-quality coffee they produce.

About Nestlé Nespresso SA

Nestlé Nespresso SA is the pioneer and reference for highest-quality portioned coffee. The company works with more than 150,000 farmers in 18 countries through its AAA Sustainable Quality™ Program to embed sustainability practices on farms and the surrounding landscapes. Launched in 2003 in collaboration with the NGO Rainforest Alliance, the program helps to improve the yield and quality of harvests, ensuring a sustainable supply of high-quality coffee and improving livelihoods of farmers and their communities.

In 2022, Nespresso achieved B Corp™ certification – joining an international movement of over 7,900 purpose-led businesses that meet B Corp’s high standards of social and environmental responsibility and transparency.

Headquartered in Vevey, Switzerland, Nespresso operates in 93 markets and has 14’000 employees. In 2023, it operated a global retail network of 791 boutiques. For more information, visit the Nespresso corporate website: www.nestle-nespresso.com.

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Fintech PR

Joe Depa named as EY Global Chief Innovation Officer to lead its global innovation strategy

Published

3 hours ago

November 26, 2024

CISION (PR Newswire)

joe-depa-named-as-ey-global-chief-innovation-officer-to-lead-its-global-innovation-strategy

Depa will lead on the discovery and deployment of emerging technologies to help address business challenges and shape the future with confidence
Brings deep experience in identifying new ways that can practically help business transformation through an innovation mindset and culture shift

LONDON, Nov. 26, 2024 /PRNewswire/ — The EY organization announces today the appointment of Joe Depa as the new EY Global Chief Innovation Officer, effective immediately. Within this role, he will spearhead applied innovation to help improve service delivery and guide EY teams to address and solve business challenges.

Depa joins the EY organization at a pivotal moment, as a range of emerging technologies are reshaping businesses and industries, creating a multitude of new challenges and opportunities. To keep pace, the EY organization is continuing to make significant investments in areas such as artificial intelligence (AI), quantum computing and blockchain, and most recently formed the EY.ai Global AI Advisory Council.

In his new role, Depa will be leading the organization’s global innovation strategy. This will include overseeing efforts to successfully implement emerging technologies for tangible business applications, both internally and across work of EY member firms with clients.

Raj Sharma, EY Global Managing Partner of Growth and Innovation, says:

“At this time of constant disruption, success would require a forward-thinking approach and willingness to make bold decisions, which are at the heart of an innovative mindset. We’re thrilled to have Joe’s deep experience and knowledge around AI and data to lead on our strategic approach to innovation so that EY teams can help clients shape their future more confidently.”

Throughout the last decade, Depa has worked closely with C-suite leaders and boards to bring innovative products and services to market, improve client and employee experiences, and help enhance operational efficiencies through technology. Most recently, he served as the inaugural Chief Data and AI Officer at a leading university and health care organization. At the university, he helped to promote AI literacy, launch a responsible AI governance program and enable a secure data foundation. Prior to that, he acted as Senior Managing Director and Global Lead for Data and AI at a global multinational professional services company, where he led a team of AI strategists and data engineers in developing and implementing new products and services.

Joe Depa, EY Global Chief Innovation Officer, says:

“I’m truly excited to join an organization that is ‘All in’ on its commitment to the transformative potential of emerging technologies. I look forward to working with the EY teams and clients to help empower them to apply innovation in bold, new ways that help create value for clients through data, AI and emerging technologies to make the world a better place.”

A renowned thought leader in the field of AI, Depa has been recognized as one of the “Top 50 Global Leaders” by World Summit AI and has received Fast Company’s “World Changing Idea” award, among other accolades.

For more information, visit: ey.com.

About EY

EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets.

Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.

EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.

All in to shape the future with confidence.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.

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Fintech

Fintech Pulse: A Daily Dive into Industry Innovations and Developments

Published

5 hours ago

November 26, 2024

Peter Tolan

fintech-pulse:-a-daily-dive-into-industry-innovations-and-developments

The financial technology sector continues to evolve at a rapid pace, offering innovations that disrupt traditional paradigms. Today’s briefing underscores fintech’s diverse growth avenues: from substantial venture capital plays and strategic partnerships to groundbreaking implementations in lending. Here’s a closer look at recent developments shaping the landscape.

Synapse’s Comeback and Andreessen Horowitz’s Strategic Bet

Source: Axios
Synapse, a financial infrastructure company previously embattled by controversy, is staging a remarkable comeback, backed by none other than venture capital heavyweight Andreessen Horowitz (a16z). With this new infusion of funds, Synapse aims to consolidate its position as a premier platform for building financial services tools.

This resurgence demonstrates the resilience of the fintech ecosystem, where innovation often prevails over turbulence. Synapse’s renewed vigor also signals that top-tier investors remain bullish on infrastructural solutions pivotal to the future of digital finance. Andreessen Horowitz’s participation not only validates Synapse’s model but also underscores the VC giant’s enduring interest in fintech infrastructure, even amid global economic uncertainties.

Analysis:
This partnership exemplifies the dynamism within fintech, highlighting the interplay of innovation, capital, and resilience. It also raises questions about the broader implications of giving second chances to firms with turbulent histories. While Synapse’s evolution could inspire others, it also places a spotlight on governance and accountability in high-growth sectors.

Israel’s Fintech Scene Gets a Boost with Investment in Finova Capital

Source: Calcalistech
Israeli fintech startup Finova Capital has raised an impressive $20 million in a funding round led by prominent institutional investors. This marks a significant milestone for the company as it seeks to expand its suite of financial solutions aimed at underserved markets.

Israel’s fintech ecosystem has long been recognized as a hub of innovation, and this latest investment only reinforces its global standing. Finova Capital’s focus on empowering smaller businesses and fostering financial inclusivity aligns with emerging trends where tech-driven solutions bridge critical gaps in financial services.

Analysis:
With this funding, Finova is poised to enhance its technological offerings while contributing to economic inclusion. However, the broader fintech industry will watch closely to see how the company leverages this capital amid increasing competition from regional and global players.

India’s Yubi Plans a Fundraising Push

Source: Bloomberg
Yubi, a prominent Indian fintech platform backed by Insight Partners, is reportedly preparing for a new fundraising round. Having already established itself as a leader in credit infrastructure, Yubi aims to bolster its offerings and expand its market footprint.

India’s fintech landscape is witnessing explosive growth, with platforms like Yubi playing a critical role in the credit ecosystem. Yubi’s planned fundraising reflects the broader appetite for scaling solutions that streamline credit access, particularly in emerging markets where traditional lending models often fall short.

Analysis:
This development highlights two key trends: the increasing reliance on credit platforms in high-growth economies and the strategic role of international investors like Insight Partners in driving fintech innovation. Yubi’s expansion plans could set a precedent for other regional fintech players seeking to scale amid global economic headwinds.

Provenir and Hastings Financial Services Win Global Recognition

Source: Business Wire
In a testament to the transformative power of digital lending solutions, Provenir and Hastings Financial Services have been jointly recognized for the Best Digital Lending Implementation at the IBSi Global Fintech Innovation Awards. This accolade underscores the success of their collaboration in modernizing the lending process through cutting-edge technology.

Provenir’s advanced decision-making platform and Hastings Financial Services’ lending expertise have delivered a solution that significantly enhances user experience, operational efficiency, and risk management. Such innovations highlight the increasing role of partnerships in advancing fintech’s digital transformation.

Analysis:
This recognition not only validates the efficacy of digital lending but also emphasizes the importance of partnerships in driving innovation. It signals to the industry that collaboration can be a powerful tool for staying ahead in a rapidly evolving marketplace.

Microf and Quantum Financial Technologies Forge New Alliances

Source: PR Newswire
Microf, a financial solutions provider, has announced a strategic partnership with Quantum Financial Technologies. This collaboration aims to expand lending solutions for contractors, providing streamlined access to capital for businesses in need of flexible financing options.

This partnership is a timely response to the growing demand for specialized financial products in niche markets. By leveraging Quantum’s technology, Microf can now offer more tailored solutions, particularly to contractors navigating complex financial requirements.

Analysis:
This development reflects a growing trend: the diversification of fintech offerings to serve specific market segments. As competition in mainstream fintech intensifies, targeting underserved niches could become a defining strategy for success.

Key Takeaways for the Fintech Ecosystem

Resilience in Fintech Funding: Despite economic uncertainties, venture capital continues to fuel innovative fintech players like Synapse and Finova Capital.
Regional Growth Stories: From Israel to India, fintech ecosystems are thriving, attracting global attention and investment.
Collaboration as a Catalyst: The success of partnerships like Provenir-Hastings and Microf-Quantum underscores the importance of strategic alliances.
The Power of Recognition: Awards like the IBSi Fintech Innovation Awards validate industry achievements, inspiring others to push the envelope.
Focus on Inclusion: Whether through credit platforms or lending solutions, fintech is playing a pivotal role in fostering financial inclusivity worldwide.

Looking Ahead: Challenges and Opportunities

The fintech sector’s journey is far from linear. Regulatory complexities, technological disruptions, and market volatility remain persistent challenges. However, as seen in today’s developments, the opportunities far outweigh the risks. By prioritizing innovation, collaboration, and inclusivity, fintech players can navigate the complexities of the global financial landscape.

This moment in fintech history is pivotal. It’s a time for bold decisions, strategic partnerships, and a commitment to bridging financial divides. As industry players rise to the occasion, the road ahead promises a future where technology and finance intertwine to empower individuals and businesses alike.

The post Fintech Pulse: A Daily Dive into Industry Innovations and Developments appeared first on News, Events, Advertising Options.

Fintech PR

BIZCLIK MEDIA LAUNCHES DECEMBER EDITION OF FINTECH MAGAZINE

Published

6 hours ago

November 26, 2024

CISION (PR Newswire)

The December edition of FinTech Magazine includes interviews with leading experts and executives from Alipay+, Marqeta & Flyfish

LONDON, Nov. 26, 2024 /PRNewswire/ — BizClik, the UK’s fastest-growing publishing company, has released the latest edition of FinTech Magazine.This publication is highly regarded by voices within the Financial Sector for its in-depth reports and interviews with prominent figures in the industry.

FinTech Magazine

This month’s edition features an exclusive lead interview with Flyfish C-Suite, Savvas Pashias, Shay Merary and Michael Zetser on how they have developed a platform for SMEs to access banking services, as traditional infrastructure struggles to meet increasing cross-border needs.

“The UniFi platform is inherently scalable, designed to growin line with a company’s expansion and service requirements” – Michael Zetser, CEO, Flyfish

The edition also contains extensive interviews with key thought leaders from Marqeta, Sidekick, PayU and more. Plus the Top 10: Decacorns

You can visit FinTech Magazine for daily news and analysis of the ever-changing financial industry.

About BizClik

BizClik is one of the fastest-growing digital media companies in the UK, host to a growing portfolio of industry-leading global brands and communities.

BizClik’s expanding portfolio includes Technology, AI, FinTech, InsurTech, Supply Chain, Procurement, Energy, Mining, Manufacturing, Healthcare, Mobile, Data Centre, Cyber, and Sustainability.

For more information, please visit our website.

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