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2018 TEI Indonesia: 6 Egyptian companies ink deals with Jakarta



The 2018 TEI Indonesia – Samar Samir/Egypt Today


BANTEN, Indonesia – 24 October 2018: Six Egyptian companies signed a number of agreements, worth at $67.5 million, with Indonesian governmental and private companies to import food and beverage products and tires this year.

Egyptian Baraka Contracting and Trading Company signed a deal with Indonesian PT Gajah Tunggal for importing tires at a cost of $20 million.

Egyptian Haggag Company for Import and Export reached a deal with PT Asal Jaya to import coffee beans for $30 million.

El Hamad Co. for Import and Export signed a deal with PT Global Coconut, PT Global Vision for Spices and PT Van Aroma for fragrance oils worth $8 million.

Stella Co inked a deal worth $2 million with Indonesian PT Orson Indonesia to import manufacturing products of soap and noodles.

The Egyptian company also sealed an agreement with the Indonesian state-owned PTPN for importing Ethanol and glycerin for $5 million.

Egypt’s Awlad Abdel Sanad Co. signed a contract with PT Agrorina to import nutmeg, coffee beans, and spices for $2.5 million.

The deals were inked on the sidelines of the 33rd Trade Expo Indonesia (TEI) 2018 at the Indonesian Convention Exhibition in BSD City in Banten on Wednesday, Oct. 24.

“We have had problems for years that we cannot solve,” said Indonesian President Joko Widodo (Jokowi) in his speech during the inauguration of the exhibition.

“Indonesia is currently suffering a $3 billion trade deficit. Back to 2017, the deficit was $17.3 billion,” said President Jokowi. He added that the figures showed that exportation was greater than importation, “however, we still suffer deficit.”

The president continued that Indonesian exports from January to September recorded $122 billion with a 9.2- percent growth, compared to the same period of the last year, voicing his hope that the surplus continues in the last quarter of 2018.

“The exportation goes better and the government continues to support the incentives,” said Indonesian Minister of Trade and Industry Enggartiasto Lukita in his speech at the opening session of 2018 TEI.

During the 2018 TEI, Indonesia signed a total of 65 contracts worth $0.5 billion with 25 countries, mainly Egypt, Saudi Arabia, and Italy, Lukita said.

Egypt ranked number four among the top five countries that signed trade contracts with Indonesia in 2018, the minister added.

The signed contracts with China are worth $4.5 billion, while transactions with Thailand recorded $242 million, he said, adding that contracts worth more than $140 million have been inked with Saudi Arabia, while contracts worth $65 million and $41 million have been inked with Egypt and Italy respectively.

The minister announced the Indonesian support to Palestine, saying “upon the president’s instructions, we have provided Palestine with our full support and all the facilities to enhance the relation.”

In response to Australia’s decision to move its embassy from Tel Aviv to Jerusalem, Indonesia threatened to hold on an imminent deal with Australia, announcing that the decision could strain the bilateral relations.

The TEI tradeshow was attended by a total of 70 Egyptian businessmen. Six of them will be granted the Primaduta Award, which is an Indonesian program that aims to increase the growth of Indonesian exports worldwide.

Indonesian Ambassador to Cairo Helmy Fawzy receives Primaduta Award on behalf of Egyptian businessmen at 2018 TEI Indonesia- press photo

1- Baracka Contracting and Trading group for Tires
2- AlMalek Faisal Co. for Trading Tires and Batteries
3- Afia International Co. for importing palm oil products
4- Ibrahim M. Mostafa and Partners (AlRehab) for importing Robusta and Arabica Coffee beans
5- AlGaras for Spices and Herbis Industry in Alexandria for importing Robusta and Arabica coffee beans
6- Al Nada Co. in Alexandria for importing Robusta and Arabic coffee beans

Egypt comes in the first place among the countries that were granted Primaduta Awards, while Holland comes in the second rank. Saudi Arabia and China ranked number three as three awards will go for three companies each.

The TEI was inaugurated under the theme “Creating Products for Global Opportunities” by the Directorate General for National Export Development (DGNED), affiliated with the Indonesian Ministry of Trade. It serves to be a platform for business discussions.

The exhibition featured various products such as food, beverages, manufacturing products, property, biofuel, automotive components, premium handicrafts, and furniture. The number of visitors reached 28,000 from 125 countries.

The trade transactions conducted in 2016 were estimated at $1.02 billion, according to the TEI official website.

The TEI was inaugurated a day after the opening of the 2018 Indonesia-Middle East Annual Gathering on Economy (IMAGE) on Monday, Oct. 22 in the city of Yogyakarta, Central Java.

The three-day gathering, held at Yogyakarta Industry and Trade Directorate, was attended by several business delegations from Egypt, Morocco, Yemen, Syria, Kuwait, Iraq, Saudi Arabia, and the UAE.

In case you missed it…

Eighth Indonesian-Middle East Annual Gathering kicks off

YOGYAKARTA, Indonesia – 22 October: The 2018 Indonesia-Middle East Annual Gathering on Economy (IMAGE) kicked off on Monday, Oct. 22 in the city of Yogyakarta, Central Java. The three-day gathering, which is held at Yogyakarta Industry and Trade Directorate, was attended by several business delegations from Egypt, Morocco, Yemen, Syria, Kuwait, Iraq, Saudi Arabia, and the UAE.

Trade volume between Egypt and Indonesia reached $203 million in 2018, compared to $75 million in 2017 with an increase of 169.65 percent, according to Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS), said Indonesian Ambassador to Cairo Helmy Fawzy during the National Day of Indonesia on October 1.

From January to June 2018 the trade volume increased by $561 million (12 percent), compared to the same period of 2017, according to CAPMAS.

According to the IMF World Economic Outlook, Indonesian annual GDP growth is projected at 5.1 percent.


Press Release

Insurpass Partners AXA Mansard To Provide Easy Access To Health Insurance Coverage For More Nigerians



Insurpass, an insurance technology company has partnered with AXA Mansard, a leading player in the insurance and asset management sector to provide access to affordable insurance coverage for emerging customers in Nigeria.

The partnership will leverage Insurpass’ Open Insurance API to provide easy access to AXA’s health insurance products such as Malaria-care, Malaria-care plus, Easy Care, and so on.  AXA’s Malaria-care provides quality malaria test and treatment to customers at various accredited partner pharmacies nationwide. Malaria-care plus provides cashback on customers’ hospital expenses when placed on admission for 2 or more nights and pays life insurance benefit to the customer’s beneficiary in an event of a customer’s death. Easy Care provides comprehensive health coverage and gives customers access to over 1000 hospitals nationwide.

Insurpass, in its drive, to deepen insurance penetration, increase financial inclusion and break the barrier to accessing insurance coverage in Nigeria. Through its plug-and-play API infrastructure and embedded insurance model will enable other service providers ranging from Banks, Health-techs, Edu-techs, and various point-of-sale agents to enroll customers for this health insurance scheme. The company also promises coverage to the base-of-the-pyramid consumers who live in rural areas. And do not have access to smartphones or internet service, as it will enable them to access healthcare insurance. Through thousands of point-of-sales agents who already carry out mini-financial activities around their neighborhoods.

Speaking about the partnership with AXA Mansard, Gloria Agboifoh, Head of Partnership and Business Development at Insurpass stated that, “Insurpass at its core is committed to breaking the barrier to inclusive insurance in Nigeria and bringing innovative and affordable insurance closer to the very people that needs it the most and this partnership goes a long way in bringing the company closer to its goal of democratizing access to insurance coverage starting with health insurance”.

In the same vein, Mr. Alfred Egbai, Head, Emerging Customers and Digital Partnerships Group at AXA Mansard, stated that “our aim is to create innovative products that cater for the needs of our customers. We will therefore continue to strive to ensure that these products are easily accessible, this is why we have partnered with Insurpass to achieve this objective”.

Insurpass, provides an API-driven insurance infrastructure-as-a-service solution that enables companies across various sectors to embed insurance products and back-end insurance components into any web, mobile app, or USSD channel through its Open Insurance API.

AXA Mansard is registered as a composite company with the National Insurance Commission of Nigeria (NAICOM). The Company offers life and non-life insurance products and services to individuals and institutions across Nigeria whilst also offering asset/investment management services and health insurance solutions through its two subsidiaries – AXA Mansard Investments Limited and AXA Mansard Health Limited respectively. The parent company was listed on the Nigeria Stock Exchange in November 2009.

Customers can also access affordable insurance products on their devices when they log on to BimaCred an online platform powered by Insurpass.



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Press Release

Wärtsilä reaches 7GW installed power capacity milestone in Africa



Wärtsilä’s Energy system integration night (Image: Wärtsilä)

With over 600 power plants commissioned in 46 African countries, Wärtsilä confirms its position as a leading provider of power generation solutions in the continent

The technology group Wärtsilä first began its Africa operations in Tanzania back in 1975. Since then, the group has delivered more than 600 installations, supplied power plants in 46 countries, generating 25% of the national electricity supply in over 25 countries. Total installed capacity now exceeds 7.4 GW of which one-third is covered by operation and maintenance contracts. Today, Wärtsilä is the undisputed leader in the medium-speed power engine market in Africa.

This strong track record, built up over decades, has its roots in a dedicated local presence combined with the capability to bring together international expertise to build groundbreaking energy solutions.

Wärtsilä’s Industry Firsts in Africa

With more than 650 employees and service hubs located in Kenya, South Africa, and Senegal. Wärtsilä is proud to have contributed to many industry firsts. These include Africa’s largest gas engine power plant on the Kribi coast of Cameroon with 216MW capacity, as well as Africa’s highest installation, the 175 MW power plant in Sasolburg, South Africa, sitting at 1,700 meters above sea level.

Another first, the KivuWatt power plant in Rwanda, is the first ever power plant to use the naturally occurring methane from lake Kivu to generate electricity and reduce the environmental risks associated with such high concentrations of gas. Today’s power output is 25 MW but future planned expansions to this project will increase capacity by an additional 75 MW.

Wärtsilä’s reciprocating gas engine technology and innovative energy management systems play an important role in response to Africa’s growing demand for flexible and reliable electricity. Small to medium size projects can be used to establish microgrids in remote regions. Their flexibility means that they can work hand in hand with renewable energy resources. Output can be ramped up at the same rate as wind or solar output fluctuates. One example is the 15 MWp hybrid engine-solar PV power plant for the Essakane gold mine in Burkina Faso: The combination of low-cost renewables with flexible engine solutions enables energy intensive industries to enter an era of more cost efficient and climate friendly operations.

Africa’s Future, Beyond Energy

No single project is the same. As a leading international EPC (Engineering, Procurement and Construction) company, Wärtsilä has a history of providing unique power solutions to meet the specific challenges of its clients. As well as to extend educational and economic benefits to local communities when delivering on projects such as Tasiast in Mauritania and Ndola in Zambia

For Wärtsilä, EPC also means Experience, Proven and Compliant. These projects have helped several nations accelerate their development and increase their standard of living, not to forget the many jobs created across the continent. At the heart of each project is local engagement, training and transmission.”, said Fabien Cadaut, Marketing & Communications Manager, Africa, Wärtsilä Energy.

This is why Wärtsilä has proudly joined forces with Ambitious.Africa, an initiative working to connect the youth of African and Nordic countries. To foster upcoming talent and co-create a more equal and sustainable future. Through this association, Wärtsilä can actively connect students, entrepreneurs, start-ups, financiers, and other stakeholders from across two continents. And provide them with the knowledge, skills and training they need to bring about real and lasting change.

As another example, Wärtsilä provides local institutions in Senegal with hands-on training and support for talented students often struggling to find their place in working life. This is part of its corporate social responsibility efforts. Another recent contribution was made in support of solar energy unit installations in informal settlements in the Western Cape. The households in these settlements are either connected to an illegal and unsafe electricity source or have no access to basic electricity.

As recent contracts such as the 120 MW power plant project in Gabon. The 90 MW gas conversion project in Senegal, and renewed O&M contracts in Nigeria demonstrate, Wärtsilä is committed to accelerate broad-based electrification across Africa.



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Asilimia secures $2 million to build the financial infrastructure of Africa’s informal economy



Asilimia founders and employees (Image: Asilimia)

Asilimia, a startup that is building the digital infrastructure to connect African MSMEs to the formal financial economy, has secured $2 million. To grow its team, deliver new services and expand into new markets in East Africa. The startup raised $1 million in pre-seed funding from a wide range of investors, including two-time unicorn founder, Fredrik Jung Abbou (co-founder of Kry and Lendo), Norrsken Impact Accelerator and other prominent founders from across Europe.

It also raised $1 million in a debt round that included Bpifrance and GreenTec Capital Partners. The pre-seed funding will support team growth and expansion while debt funding will enable Asilimia to extend credit to MSMEs, providing much-needed financing to help them scale their businesses.

Asilimia is on a mission to build the digital financial infrastructure of Africa’s highly fragmented and paper-based informal economy, and address the $360 billion credit gap that is impacting the continent’s 150 million MSMEs. Despite contributing approximately 38 percent of Sub-Saharan Africa’s GDP, lack of consolidated data means MSMEs are considered as high risk, leaving them locked out by traditional financial institutions.

And even in a country like Kenya that has a higher financial inclusion rate than most of the continent due to the advent of M-Pesa, most MSMEs still use pen and paper to record their transactions, and 30 percent of their profit is spent on mobile money transaction fees.

Asilimia has built an affordable and easy to use digital platform that formalises payments, revenue collection and accounting for business owners. Making it easier to monitor their business activities in one place. Using just their mobile phones, business owners can record their expenses and sales. Track pending payments and gain financial insights through a simple dashboard that is more efficient than using pen and paper. They can also connect their personal mobile money accounts and save up to 90 percent on transaction fees.

This consolidated and verifiable business data de-risks business owners. Making it easier for them to access a range of financial services, including insurance, savings and loans to meet their specific needs, accelerate their growth and support development in their communities. The startup is growing at 30 percent week on week, and the app is used an average of 90 times per month per customer.

According to Tekwane Mwendwa, CEO and co-founder of Asilimia, “Africa’s informal businesses are the backbone of its economy and we want to unlock their GDP to drive further growth and development across the continent. Our focus over the last few years has been to build a solution that works and this new funding will enable us to take it into new markets and impact the lives and livelihoods of more business owners.”

Asilimia was founded by Tekwane Mwendwa and French entrepreneur Morgane Kablan to build the first financial infrastructure of the informal economy in Africa. The startup was incubated in the prestigious Station F programme in Paris. And it has also been through the Norrsken Impact Accelerator programme.

Funda Sezgi, co-founder and Managing Director at Norrsken Impact Accelerator said, “MSMEs play a vital role across Africa and making it easier for them to succeed is great for the continent as a whole. Tekwane and the team have built a solution that works and we are delighted to be supporting them as they drive prosperity in a key sector for the African economy.”



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