Fintech PR
ewpartners Highlights Case for Investment into MENA Region at SuperReturn Asia
SINGAPORE, Sept. 25, 2024 /PRNewswire/ — ewpartners, the first international private equity firm to establish an Asian-Saudi cross boarder investment platform, will use its speaking appearance at SuperReturn Asia this week to outline the significant investment potential of the Middle East for APAC investors searching for diversified risk-adjusted returns.
Mr. Cliff Chau, Managing Partner at ewpartners, will be speaking on Thursday 26th September on the cross-border investment opportunity between Asia and the Middle East and North Africa (‘MENA’) region. ewpartners was founded in Riyadh in the Kingdom of Saudi Arabia in 2017 and has witnessed the incredible growth of the Kingdom over the past seven years. Through its funds, ewpartners invests across three key themes: digital infrastructure & solutions, advanced manufacturing & energy transition, and logistics & consumer enablement. Its first-mover advantage and local knowledge of the region is a crucial benefit for APAC investors.
To exemplify the MENA region’s progress, Mr. Chau will discuss Saudi’s Vision 2030 as a primary example of how the Kingdom is encouraging foreign investment as part of its wider blueprint to diversify its economy. Launched in 2016, the project is just past its halfway point, prompting an ideal moment to reiterate the progress the Kingdom has made in shifting their economy away from oil dependence and towards a more vibrant environment for both citizens and investors.
Over the past eight years, Saudi Arabia has launched $1.3 trillion into real estate and infrastructure projects to craft the country into a more attractive place to work, live and travel. At the same time, the Kingdom has become a leading fintech hub with the establishment of Fintech Saudi. Over $1 billion has been invested into the industry, and a regulatory environment created which is supportive of growth and innovation.
Mr. Chau will highlight how this transformation into a wider economic base offers unparalleled opportunities for investors who are looking for long term projects that align with their strategic objectives.
As Saudi has opened its doors and expanded business opportunities, countries have risen to the occasion. MENA countries have effectively communicated their commitment to mitigating perceived risk association in the region whilst simultaneously revising investment legislation, easing market entry and strengthening investment promotion agencies. Mr. Chau will speak directly to APAC investors on how these advancements have resulted in a drastic rise of Foreign Direct Investment into MENA from $57 billion in 2020 to $103 billion in 2023[1].
The growing foreign investment landscape in the MENA region is largely driven by players such as the United States, European countries and China, presenting a unique opportunity for investors from the global market to expand their presence, particularly in the region’s non-oil sectors. Areas such as renewable energy, technology, logistics, and tourism are becoming key areas of investment. Saudi Arabia’s Vision 2030 has attracted over $12 billion in green energy investments, and the UAE is set to increase its FDI in the tech sector by 7% annually. MENA countries continue diversifying their economies away from oil, and Asian nations, with their growing expertise in industries like technology, renewable energy, and manufacturing, are well-positioned to capitalize on these opportunities. Strategic investments from Asia can help accelerate the MENA region’s economic transformation while fostering deeper economic ties and partnerships.
Rebranding
Since its launch in Riyadh in 2017, ewpartners has raised and fully deployed 400 million USD for its Fund I and is targeting 1 billion USD for its Fund II as a direct response to strong investor interest. The company, previously known as eWTP Arabia Capital, recently re-branded to ewpartners to symbolise a broadening out of its initial focus to include investments into the wider MENA region. The ‘east west’ wording incorporated into ewpartners symbolises the transfer of knowledge and investment that the company facilitates between Asia and the Middle East.
ewpartners has successfully built companies that not only create significant value for APAC investors but also contribute meaningfully to key industries in the MENA region, achieving exceptional business growth. A prime example is Saudi Cloud Computing Company (SCCC), which ewpartners have built up to drive digital infrastructure in the region, benefiting consumers, companies, and investors alike. Additionally, ewpartners supported J&T Express, a last-mile delivery service operating across Saudi Arabia, in achieving top-tier ranking in delivery efficiency and securing a place among the top three companies in the industry by average daily order volume. This not only highlights ewpartners’ role in driving growth and operational excellence in critical sectors like logistics but also demonstrates how upgrading the logistics industry has fueled the growth of the e-commerce market, unlocking the high purchasing power of the Middle East region.
Speaking at an event held at ewpartners offices in the King Abdullah Financial District (KAFD) in Riyadh to celebrate the new brand, ewpartners Founder and Managing Partner Jessica Wong said:
“We were the first cross–border investment platform to establish ourselves in the Kingdom of Saudi Arabia and our first-mover advantage has meant the last seven years has been a period of great success for us. As we launch our new brand here in the KAFD we are excited to renew our commitment to the Kingdom, as well as signal our intention towards the wider Middle East. We have already identified a pipeline of opportunities, and we look forward to acting on that as we contribute towards the region’s vision of connectivity, growth, and global prominence.”
Mr. Chau’s panel at SuperReturn Asia will dive deeper into ewpartners’ role in developing the MENA region into a future hub of innovation and how APAC investors can rely on them to facilitate trans-border investment.
About ewpartners
ewpartners (formerly eWTP Arabia Capital) is an international investment firm specialising in cross-border investments between Asia and the MENA region. Backed by the Public Investment Fund (PIF), the firm has been active in Saudi Arabia since 2017 and was the first investment firm to launch a cross-border platform between the Kingdom and China.
Headquartered in Riyadh, ewpartners focuses on building value across borders by establishing strategic partnership with exceptional companies. Our team’s expertise in shaping innovative conducive policy frameworks can support governments in fostering economic transformation and diversification driven by innovation and technology.
We are committed to investing in, supporting, and growing successful businesses across the Asia and MENA regions, with a focus on key industries and themes such as digital infrastructure & solutions, advanced manufacturing & energy transition, and logistics & consumer enablement.
For additional information, please visit https://ewpartners.fund/
[1] Source: World Bank Group, 2023: https://data.worldbank.org/indicator/BX.KLT.DINV.CD.WD?locations=ZQ
View original content:https://www.prnewswire.co.uk/news-releases/ewpartners-highlights-case-for-investment-into-mena-region-at-superreturn-asia-302258856.html
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
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.”
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:
- Strengthen endpoints: Ensure devices are updated with antivirus and endpoint protection software; consider Endpoint Detection and Response (EDR) and application whitelisting.
- Prepare for phishing spikes: Train staff to identify suspicious emails, enforce robust email filters, and establish protocols for reporting unusual activity.
- Secure remote access: Mandate VPN usage, monitor unusual logins, and deactivate inactive accounts temporarily.
- Segment and shield networks: Isolate sensitive areas, deploy DNS security and advanced firewalls, and maintain full visibility over network traffic.
- Apply timely patches: Regularly update all systems and test patches in a controlled environment to minimize disruptions.
- Mitigate supply chain risks: Assess vendors thoroughly and limit their access to essential systems.
- 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]
View original content:https://www.prnewswire.co.uk/news-releases/stay-cyber-safe-this-holiday-season-heimdals-checklist-for-business-security-302337465.html
Fintech PR
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.
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
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
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