CAIRO – 23 December 2018: Egypt and Germany signed two technical and financial cooperation agreements worth €150.5 million.
The agreements were signed by Egypt’s Minister of Investment and International Cooperation Sahar Nasr and the German Ambassador to Cairo, Julius Georges Lowe.
Nasr clarified that the first agreement is for technical cooperation through a grant of €48 million in the education sector in support of the initiative of President Abdel Fatah al-Sisi to invest in human resources, in addition to supporting the sectors of infrastructure and environment, agriculture, water and sanitation.
She added that the second agreement is a financial cooperation agreement agreed between the two sides to finance a number of projects worth €102.5 million in the electricity sector, new and renewable energy, energy efficiency and agriculture as well as small and medium enterprises.
The Minister stressed that the priority goes for the neediest areas within the grants to support small and medium enterprises, so as to benefit women and young people, noting that during the negotiations of the agreements, they agreed that the deals to be linked to the training of young people on various skills and benefit from German expertise in the manufacturing sector.
She referred to Egypt’s keenness to intensify and diversify its economic, development and investment cooperation with Germany as part of the implementation of the agreement between Egypt’s president and German Chancellor Angela Merkel during their recent meeting in Berlin.
CAIRO – 28 August 2018: Following June 30 revolution against the Muslim Brotherhood-affiliated former President Mohamed Morsi, Egyptian relations with Germany, along with many other countries, were strained. However, diplomatic, and subsequently economic relations with Germany have been restored in a short time. President Abdel Fatah al-Sisi arrived in Berlin on Sunday, Oct.
Nasr stressed on the importance of increasing German investments under the strategic relations between the two countries, stating that Germany’s investment in Egypt is about $641.4 million, with a number of 1103 companies in the sectors of chemicals, oil, telecommunications, gas, automobile industry, iron and steel.
CAIRO – 31 October 2018: Egypt and Germany signed a number of bilateral agreements on the sidelines of President Abdel Fatah al-Sisi’s four day visit to Berlin, which started on Oct. 28. The two officials signed a protocol of economic cooperation worth €129 million ($146.47 million) during the meeting of Egyptian-German cooperation committee, presidency spokesman Bassam Radi said.
For his part, the German ambassador to Cairo praised the cooperation with Egypt, pointing out that these agreements come in the framework of strengthening relations between the two countries, and indicates the current strategy of cooperation between Egypt and Germany, stressing his country’s keenness to increase its support to Egypt during the next stage on the economic level.
He also praised the economic reform measures that the Egyptian government is working on, which reflects positively on the development cooperation between Egypt and Germany and improving the investment environment which encourages German companies to increase their investments in Egypt, stressing the strategic and deep relationship between Egypt and Germany.
He honored the improvement of the Egyptian economy, stressing that the German Construction Bank and the German Agency for International Cooperation have the ability to provide more expertise and capabilities to serve the economic and development cooperation of the two countries after the establishment of two offices in Cairo.
Minister of Trade and Industry Amr Nassar said that Egypt’s exports to Germany marked an increase of 9.5 percent during the first half of 2018, reaching €717 million, compared to €654.6 million during the same period of 2017.
CAIRO – 20 September 2018: Egypt’s exports to Germany marked an increase of 9.5 percent during the first half of 2018, reaching €717 million, compared to €654.6 million during the same period of 2017, according to Minister of Trade and Industry Amr Nassar.
Trade exchange between Egypt and Germany rose 5 percent in 2017, reaching €5.81 billion, compared to €5.57 billion in 2016, Nassar said earlier.
Total Egyptian investments in Germany recorded $35.5 million in the fields of finance, medicine, furniture, appliances, medical supplies, tourism and trade, the minister added.
CAIRO – 21 June 2018: Trade Exchange between Egypt and Germany rose 5 percent in 2017, reaching €5.81 billion, compared to €5.57 billion in 2016, according to Minister of Industry and Foreign Trade Amr Nassar. The minister clarified that the current German investments in Egypt amount to $641 million through 1080 projects in the fields of industry, services, agriculture, construction, communications, information technology and finance.
– EGYPT TODAY
Acronis, Cyber Protection Leader appoints Technology Veteran Paul Maritz, as Chairman of the Board
Acronis Board Chairman, Paul Maritz (Image: Supplied)
Acronis, a global leader in cyber security and data protection, today announced that Paul Maritz has been appointed as the Chairman of the Board of Directors, effective September 21, 2021. Maritz will be responsible for the governance and leadership of Acronis as it strengthens its position in the service provider market preparing for significant growth in the future.
Earlier this year, Acronis raised $250M at a $2.5B valuation, and announced former GoDaddy’s partners business president, Patrick Pulvermüller, as the new chief executive officer. The strengthened management team will use the momentum to provide Acronis’ partners with the tools that they need to deal with a rapidly changing digital world.
The challenge of providing MSPs with effective tools to manage the environments of their customers is becoming increasingly complex, particularly in a world where security is becoming an overwhelming issue. Security can no-longer be handled by having an SMB end customer put together a plethora of individual tools. Modern threats have exposed the need for an integrated approach and automated cyber protection that solves the safety, accessibility, privacy, authenticity, and security (SAPAS) challenges of the modern digital world.
Acronis Cyber Protect provides all the management tools of the future that service providers need to do an effective job for their customers to help them grow their business. As well as developing its own technology, Acronis will continue to make acquisitions to become one of the world’s major players of providing the most innovative backup, security, and management tools on the market. Over 12,000 service providers trust Acronis Cyber Protect to manage over 2,000,000 workloads around the world, positioning Acronis for even more company growth in the future.
“Paul brings a wealth of experience developing products to meet market demands and take companies to the next level. His becoming Chairman represents another step forward for Acronis in solidifying its position as a global leader in cyber protection. Paul’s experience with innovations at scale will help us to continue delivering easy, efficient, and secure cyber protection to service providers and their customers of any size,” said Patrick Pulvermüller, Acronis CEO.
“With its strength in backup and security, Acronis is well positioned to build a platform for a comprehensive list of management tools, helping service providers deliver modern cyber protection to their customers today and in the future. Acronis Cyber Protect is a great example of what can be done. Acronis will continue extensive research and development in this direction, helping partners optimize their operations and stay ahead of the competition,” said Paul Maritz, Acronis Chairman of the Board.
Maritz first joined the Board of Directors in May 2021, bringing 40 years of experience in computer science and software to the cyber protection company.
In his previous executive roles, Paul served on the Executive Staff of Microsoft, was the CEO of VMware, and was CEO and Founder of Pivotal Software. Paul currently is an active investor and serves on the Boards of several start-up technology companies.
Paul graduated with a degree in Mathematics and Computer Science from the Universities of Natal and Cape Town. He is active in the nonprofit world, served for 10 years on the Board of the Grameen Foundation, which supports financial inclusion and technology in the developing world, and supports conservation efforts in Africa.
Paul Maritz replaces René Bonvanie, whose leadership helped Acronis develop an effective strategy to expand global presence and deliver easy, efficient, and secure cyber protection to customers of any size. Acronis wishes to thank René Bonvanie for his contribution to the company development and growth.
ILLA, an African asset-light FMCG Logistics Company Raises $2M Investment Round
ILLA Team (Image: Supplied)
Cairo-based FMCG Logistics company ILLA secures a $2M investment round to boost its growth in the market and diversify its offering to the FMCG value chain. The round was co-led by Watheeq Financial Services and Golden Palm Investments. The round saw participation from Loftyinc Capital Management, Kepple Africa Fund, Cubit Ventures, AUC Angels, Oqal Angel Network and FLat6Labs Cairo doubling down on its investment in ILLA for the third time
Founded in 2019 by Mahmoud Elzomor, Alaa Jarkas, Ahmed Sakr, and Hossam Saraya, and shortly joined by a well versed management team with Mohamed Emera as Director of Growth, Mohamed Kamal as CFO, and Khaled Elzomor as Commercial Director ILLA aims to optimize post-production supply chain activities for FMCG brands, starting with middle-mile delivery services, being the most fragmented part of the value chain.
By focusing exclusively on the FMCG market, ILLA was able to capture the business and trust of over 65 clients in its portfolio, with household names to the likes of Coca-Cola, P&G, Danone, Nestle, Juhayna, and Pepsico.
Since 2019, ILLA has been delivering on its core promise of moving goods with efficiency on behalf of FMCG brands, spanning over 5,000,000 KM and completing over 250,000
transactions, across 27 governorates in Egypt leveraging its tech platform to power delivery
Before ILLA, FMCG brands had to rely on a variety of owned and outsourced assets to manage their delivery operations, and that adds to the pain of a fragmented logistics cycle, which gave way to the value offering of ILLA to those brands; a streamlined value chain with visibility, control and growth potential for each individual brand, with ILLA acting as an asset-light logistics company, leveraging its tech platform and operational intelligence to deliver an unparalleled experience to FMCG brands.
“ILLA will use the funds to fuel its expansion and growth in Egypt and disrupt the traditional route to-market for FMCG companies and SMEs, while building more around its tech platform to deliver more value to its clients and drivers alike”, says Mahmoud ElZomor, Co-Founder and CEO of ILLA
“Mahmoud and the team are tailor-made for ILLA, bringing decades of diversified experience to help drive efficiency into the $15 trillion global FMCG market. With the onset of covid, the global supply chain management industry is suitable for modernization, and ILLA is uniquely positioned as an end-to-end execution platform. In addition, ILLA’s smart logistics solutions also play a crucial role in providing a full stack of operational solutions that will disrupt the sector, and will change the behavior for all stakeholders within the FMCG market,” said Khaled Zaidan of Watheeq Financial Services.
“Middle-mile logistics is one of the most underinvested segments of the global supply chain market. ILLA has identified this massive opportunity in MENA and is offering a full-stack B2B supply chain management platform enabling FMCG brands to reach retailers directly at the lowest cost per case. Mahmoud and team are utilizing the trucking logistics shared economy and tech automation to innovate within a large and fast-growing market.” – AJ Okereke, Partner, Golden Palm
Africa’s CEOs to empower youth for the digital age at the All4Youth Regional Alliance flagship event
All4Youth Regional Alliance Senior leaders (Image: All4Youth SSA)
We aim to support 1 million young people to find work and plan their transition to the digital economy between now and 2022 through a flagship event of All4Youth Regional Alliance, “CEO & Youth Connect”. A collaborative intervention led by various multinational companies dedicated to reduce youth unemployment across Sub-Saharan Africa. Senior leaders from the alliance will meet on November 8, 2021, to discuss skills of the future required in their organizations as well as share programs, training, and initiatives designed to prepare youth for the digital era.
The COVID-19 pandemic has created an economic crisis, forcing tens of millions of people out of work. As economies continue with the reopening journey, some jobs may not come back, yet we continue to see a rise in the number of youth joining the job market. “We have therefore put the best of our resources to support this recovery, including using data to understand the most in-demand roles, supporting with skilling and reskilling needs for job seekers and job creators. Partnerships such as this will play a critical role and will support us to scale us to more youth and increase the impact across the African continent” noted Ghada Khalifa, Director for Microsoft Philanthropies for Middle East and Africa.
Bruno Olierhoek, Chairman and Managing Director at Nestlé East and Southern Africa Region emphasized the importance of senior leaders taking keen interests in the development and ultimate successes of the youth. “We are driven by our inspiring purpose that is so relevant in our East and Southern Africa Region (ESAR) and we want to do good by addressing societal challenges such as climate change, sustainability and youth unemployment. To help contribute to these major challenges, we realize the need to work in an ecosystem which is entrenched around long-term thinking, with immediate actions. Through our involvement in different programmes supporting the youth in Employment & Employability, Entrepreneurship and Agri-preneurship we are committed to continuously define projects that are fully integrated in our value chain for them to be viable over the long term and be able to make a real meaningful impact for the community and us.”
“The youth of today are the builders and leaders of tomorrow. As Adcorp we know that enabling agility, focus and skill in the youth of today is the key to unlocking their potential for tomorrow ‘’ highlighted Dr John Wentzel, Chief Executive Officer, Adcorp Group.
In the last two years, alliance partners have reached over 150,000 young people, empowered over 3000 young people through employability and mentorship programmes. Giving high potential young talent access to a network of high performing industry professionals that accelerate opportunities, career and personal development goals.
We encourage young people to register for the upcoming event to click here and learn more about in-demand skills, insights to future of work and opportunities alliance partners have available for youth.