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As we enter the final quarter of the year 2021, what is also called the ‘Golden Quarter’, there seems to be optimism spread everywhere. This is very good news considering the fact that the world was under a dire condition thanks to the Covid-19 pandemic in 2020. It was during this quarter that we saw a lot of acquisitions and mergers of companies across the continents. One such M&A that really stood out was the one between Uniphore and Jacada that aims to further enable enterprises to transform customer experiences. Huawei also announced its collaboration with AppGallery. Another big announcement of the quarter was the tie-up between Etisalat and Microsoft Azure to leverage 5G technology. Technology was explored to the core as the severity of the pandemic reduced. Be it in education, logistics, leisure or luxury. In this edition of International Business Magazine, you will find luxury brands and education groups talking about the market in Asia, particularly in India. There is also a special feature on the new initiative taken by the Abu Dhabi government to promote foreign investments in the country. As we enter the final quarter of 2020, it is essential for organizations and individuals to develop a strong foresight in various sectors so as to predict the next big opportunity. The one big thing that the pandemic has taught us all is the importance of financial stability and sustaining innovation even in the grimmest conditions. Author Damien Troy reveals some exclusive insights on loan procurement for retired individuals. With the ongoing festive season in the month of November and December, it needs to be seen as to how the uptick in retail sales and an optimistic consumer could pull the global economy out of the murk of another recession. The markets across the globe are appreciating the capital inflows from the government that is boosting the trade and the manufacturing sector. The service sector is facing another jolt with massive organizational restructuring and this is leading to some of the best human resource management overhauls in decades. Ujal Nair Editor
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Content... Corporate
06-15
Etisalat-Microsoft Azure alliance drives 5G Enterprise Multi-access Edge Computing Advanced Electronics Company at GITEX 2021 boosting Saudi Cocolife Empowering the Philippines through Goodwill
Education
16-19
Money and Location should not stunt your child’s academic growth - Priyavrata Mafatlal, Uniform Junction
Finance
20-21
5 Ways To Borrow When Retired
Investment
22-25
100% Foreign Investment Law is part of Abu Dhabi’s 50 year strategy: HE Mohammed Ali Al Shorafa Al Hammadi of ADDED
Insurance
26-35
Young customers, young leaders drive the next disruption in insurance Modern Insurance companies excelling at securing health and wealth
Interview with Cocolife
36-41
Lifestyle
42-45
‘Around 40 percent Indians could be Zippo consumers’ - Lucas Johnson of Zippo
Logistics
46-49
DHL’s latest logistics hub unveiled at Abu Dhabi International Airport
Technology
50-53
Uniphore acquires Jacada for a new platform in conversational automation Huawei announces alliance with AppGallery at the Huawei Developer Conference 2021 The Grid unveils NFT podium bridging physical artifacts, digital world Leonardo drive Lunar Space Economy as focal point at Italian Pavilion
Corporate
Etisalat-Microsoft Azure alliance drives 5G Enterprise Multi-access Edge Computing
6 | 2021
Corporate
E
tisalat in tandem with an alli-
Khaled Al Suwaidi, Vice President
range of distributed applications
ance with Microsoft have re-
Fixed and Mobile Core at Etisalat,
with a common and consistent
cently unveiled as a part of their
commented that, “Etisalat Edge
architecture for Enterprise cus-
strategic partnership, unveiling
Computing solutions will help
tomers.”
of a latest 5G modules with the
customers transform the way
leveraging of Microsoft’s Azure
they operate, especially trans-
He also further added out that,
backed Multi-access Edge Com-
portation, smart manufacturing,
“Azure MEC offers service provid-
pute innovation and technology.
logistics, and Oil & Gas.”
ers and customers the same set of tools to build and manage their
The alliance also announced that
He also further added that “This
it will also leverage the power of
drastically increases the value
both Etisalat’s Core Orchestra-
for traditional networks to transi-
tion and Azure’s ARM resourc-
tion into 5G to develop intelligent
es, offering a 5G edge compute
and autonomous next generation
plug-and-play infrastructures for
technology that unlocks potential
enterprises to run industry solu-
opportunities to our customers.”
tions. The Regional Director for Enter-
cloud infrastructure. Our customers can maximize their efforts by employing a “build once and deploy many” strategy to optimize their investments.” The firms in a joint statement stated out regarding the latest collaboration is in tandem with the previous year’s successful
This Edge powered computing
prise and Partner Group (EPG),
technological scenario will be
Microsoft UAE, Naim Yazbeck,
setting reforms for a huge group
also promptly stated regarding
powering the initial public cloud
of industries, curbing out latency,
the alliance that, “We are proud
strategy via a digital transforma-
as well empowerment of whole
of the synergy achieved between
tion program that empowered
host of applications for delivering
Etisalat’s advanced 5G capabili-
the telecommunications provider
swifter, secured 5G, IoT, AI appli-
ties and our Azure Edge and MEC
to shape a platform infused with
cations.
services to unlock a whole new
automation and AI.
partnership, when the Etisalat teamed up across Microsoft
7 | 2021
Corporate
8 | 2021
Corporate
Advanced Electronics Company at GITEX 2021 boosting Saudi Arabia ICT prospects
9 | 2021
Corporate
During the concluding part of the
Diode, and Cloud based services,
large
GITEX Global, a huge technology
thus
Industry-
even comprising of VIPs and
sourcing, networking event held
powered
from
leading delegates from across
globally recently at the Dubai
electronics, technology as well as
the technology industry. Few
World Trade Centre, Dubai, from
manufacturing arena.
amongst them comprised, H.H.
displaying
its
prospects
Saudi Arabian Military Industries (SAMI) owned firm assured its stance as core enabler for the Kingdom’s technology innovation and digital shift.
of
visitors,
Prince Bandar bin Abdullah Al-
17 to 21 October, Advanced Electronics Company (AEC), a
number
The firm also announced signing up of latest strategic partnership agreements
at
the
event
comprising of: – an agreement with the Malaysian firm Seeloz to boost AEC’s supply chains utilizing the AI, an agreement with
During the GITEX Global event,
the Estonian firm Talgen to boost
the firm announced displaying
AEC’s cybersecurity prospects,
their unique set of merchandizes,
and a collaboration with Saudi
solutions that comprised of: –
firm Easy technology to develop smart solutions, comprising of Smart Parking.
Mishari Al Saud, Saudi Arabia’s Assistant Minister of Interior for Technology Affairs, Dr. Khaled Al-Bayari, Assistant Minister for Executive Affairs, Ministry of Defense, Mr. Badr Al-Qahtani, Saudi Cultural Attache in the UAE, H.E. Mr. Jaan Reinhold, Ambassador of the Republic of Estonia to the UAE. It also comprised few other visitors
comprising
of
Dr.
Abdulrahman Al Jadhai, CEO of
“Bariq”
Drones,
Managed
Services,
Security
Operations
The firm also reported that,
ELM, Mr. Sami Al Shafan, CIO
Center (SOC), Sandboxing, Data
its booth was able to capture
National Guard Saudi Arabia, Mr.
10 | 2021
Corporate
security, and energy sectors.
Ayman AlFallah, CEO of THIQA,
He further added that “Through
and a delegation from the Saudi
these global platforms, we aim to
Data and Artificial Intelligence
further strengthen our expertise,
The firm also reported that it
Authority headed by Eng. Amer
accelerate
of
offers out employment prospects
Al-Qahtani, CEO of Business
innovation, and consolidate our
for in excess of 2,200 workforces,
Development.
position as a tech leader and a
85 percent of whom are Saudis,
fundamental supporter of Saudi
who comprises of over 800
Vision 2030.”
highly skilled and certified male
Eng.
Ziad
Al-Musallam,
CEO
our
process
and female engineers occupied
of AEC, promptly commented regarding the firm’s participation
AEC, a Saudi Arabian Military
for 17th time in GITEX Global,
Industries owned firm, was formed
stating that, “We are proud
in 1988 and is headquartered
of
success
in Riyadh, is a global pioneer
at various global events and
in the space of electronics,
exhibitions,
our
technology, and manufacturing
regional
arena. The firm designs out,
AEC’s
growing leader
continued
strengthening
role in
as
a
Information
and
develops
out,
maintains and repairs advanced
(ICT) and a key enabler of the
systems and merchandize in the
Kingdom’s
defense and aerospace, data and
ambitious
transformation journey.”
digital
communications
The AEC’s 17th year participation is also highlighted previously ezxclusively on our webpage.
manufactures,
Technology
Communications
in various fields.
technology,
11 | 2021
Corporate
12 | 2021
Corporate
Cocolife Empowering the Philippines through Goodwill
13 | 2021
Corporate Cocolife’s commitment to service
erism pitch. Cocolife shares a
• Cocolife’s initiative to extend
and strengthening the lives of the
major credit with its committed
humanitarian consideration to
Filipino citizens have been carved
workforce for building its current
their insured for Covid relat-
on efficiency that is being provid-
legacy and in paving the way for
ed through their products as a
future endeavors.
ed cases, made the company
part of necessities. Holding onto an ethical base of service that is being provided proves Cocolife to be a stable, reliable and quality driven company where their corporate structure is functioned on a moral structure base.
Their CSR programme has been providing medical missions and scholarship to the children of coconut farmers from the time of its initiation. This showcases the ease of access for all their services. Their corporate goal is stated as “believing in the fili-
to cover Php 140M- worth of healthcare assistance.
Cocolife’s Annual report 2020 has listed the following CSR activities:
• Cocolife has held an event as the first ever Coco Conglomerate which was attended by 2000 runners where participants have teamed up to raise
• Adoption of payout channel innovations,
that
facilitates
customers to receive their proceeds from maturities and policy loans into their bank accounts in less than a day.
funds for Cocolife’s Foundation. Inc, and operation smile.
Various activities related to Corporate
• Took part in Covid-19 Donation drive where the frontline workers received essentials
Social
Responsibility
of Cocolife includes Promoting good health and improvement in livelihood by infusing welfare aspects, popularizing environ-
pino”, that states their motive of
mental awareness to uphold
strengthening the faith of the cit-
• Cocolife donated one real time
izens in them. This in turn, has
polymerase chain reaction ma-
helped them maintain a robust
chine to the UP Manila Nation-
business platform for its part-
al Institute of Aid of Filipino to
ners.
fight against Covid by increas-
communities across the world.
ing testing capacity.
Cocolife’s initiative to extend hu-
sustainability, and as a community-oriented
organization,
it enhances its support for the
manitarian consideration to their
The concept of CSR in Cocolife
insured for Covid related cases,
affirms the ministration involved
• 3 core relief operations took
in the initiatives that are vital in
place through Cocolife are
made the company to cover Php
nature. Their strategies state
Davo Relief Operation, Ulyss-
140M- worth of healthcare assis-
their long run capability of pro-
es Typhon Operation and Taal
tance. It has also innovated pay-
viding its clients the satisfactory
Eruption Relief operations.
out channel, that facilitates customers to receive their proceeds
aspects to be a partaker with Cocolife. Outcome emerging from
• Providing 50,000 Filipino fami-
from maturities and policy loans
Cocolife influences its supply
lies with about Peso 1 billion in
into their bank accounts in less
effects which portrays consum-
Covid-19 related claims.
than a day.
14 | 2021
Corporate Building a better tomorrow for
“Without a doubt, each one of
solutions to its clients and to
the Philippines
us stepped up and gave our best
meet their demands as a majority
because we were motivated
of the population were vulnerable
The board that is set up for the
by our vow to serve others. We
to the pandemic situation. As a
formulation of policies helps in
have been able to prove – that
part of their digitization goal, Co-
achieving
a team composed of purely
colife launched their first online
efficient
Corporate
Social Responsibility activities,
application form. It also set up
as it is responsible for the
a data loss prevention system,
functioning of good governance.
along with a new firewall. As they
This systemised board helps in
were headed to off-site activities
creating a path to attain welfare
and online transactions, risk man-
prospects.
aims
to
agement and compliance driven
standards
of
governance, initiatives were built
corporate governance through
based on profitability, capital effi-
achieve
Cocolife
higher
initiatives structured on the base of rules, guidelines and laws that pertain to the activities taken. “Everything pre-pandemic feels like a lifetime ago. Going over my 2019 report, I was reminded of the challenges and obstacles the new management team had to surpass for Cocolife to meet its goals and have a successful year. However, nothing prepared us for
Filipino talents, Filipino skills and Filipino dreams – was able to revive and recreate this great institution. Although grand, the challenge continues. As long as we remain committed to the values of excellence and integrity, as long as we respond to the exigencies of the company with creativity – all of these goals will be within reach. Cocolife has a
ciency, financial and operational risk management. The main aim of Cocolife is to construct a nation to empower the Philippines and its citizens with financial freedom. They own a systemized set of quality insurance products, built on the core values of reliability, excellence, teamwork, integrity and empathy. Thereby Cocolife is a
a pandemic where the challenge
continuing obligation to improve,
to us was to literally survive. But
to transform, to continue to keep
we forged ahead. We did not
the faith and belief. Cocolife is
lose heart. We fought and we
nothing without its people – the
continue to fight strong. This is
people we serve. What use is
the livelihood of its customers. It
the reason why I am immensely
there to count profits and gains
has created a niche among the
proud of Team Cocolife. I never
if not for the lives we change for
insurance sector by addressing
once doubted that we will be
the better?”
the social welfare of its custom-
able to cope in this situation,
life insurance company that not only functions on materializing its goals, but it is also present to deal with the problems arising in
ers while also functioning as a
but each stakeholder worked
The president’s message gave a
beyond the call of duty” said
brief about their core initiatives.
Atty. Jose Martin A. Loon,
These initiatives are intended for
President & CEO of Cocolife.
a larger mass to find grievance
profit oriented organization.
Article by Ramya. S 15 | 2021
Education
Money and Location should not stunt your child’s academic growth - Priyavrata Mafatlal Uniform Junction
16 | 2021
Education It is evident that the e-commerce
that this sector was always
courses, the STEM learning and
sector
boom,
present in India, the pandemic
other talent-based learnings. The
especially with the acceptance
just made it more popular and
online portal is also equipped with
of the traditional buyers who
accessible.
a career guidance counsel with
has
seen
a
once preferred the brick and mortar
model
for
even
the
smallest school education items. Priyavrata reminds us of the condition in the rural and semiurban regions where parents travel long distances to buy their children’s school uniforms and that is what Uniform Junction is promising to tackle – customized, value
added,
home-delivered
school uniforms and other items. He aims to make it a one-stop support system for schools with the click of a button.
over 300 different career choices. Priyavrata comments, “We did not
Through this style of learning,
expect to do so many things that
a child who has the aptitude for
we managed to do overnight. I
physics but is interested in music
think the word adaptation comes
can be mentored for a career in
close to the boom of Edtech
sound engineering.
and it is here to stay in some form or the other.” He believes that its future will depend on the educators who would explore the hybrid models. Being part of the 116-year old iconic Arvind Mafatlal Group has certainly helped in accessing the right doors and the right clients
What started as a concept idea to take the offline business online, the pandemic really pushed the company to take a more holistic approach in the education sector. It is an ecosystem where every market player has a role to play in addressing the issues of the schools and children.
In an exclusive interaction with
and today it is building a brand
Priyavrata
co-
value of its own. Uniform Junction
founder and director of Uniform
is focused on being the curated
Junction, we learn about his
marketplace that allows users to
ambitious plans and strategies
select or limit their choices rather
of bringing quality education to
than getting lost in the whole
the Tier 2,3,4 and 5 cities of India
jungle of offerings available. It
Appreciating the initiative taken
and making Uniform Junction the
takes the advantage of being able
by the Indian government in
go-to platform for online learning
to scan the entire globe and offer
introducing the new NEP (New
and school education products.
the best education services to its
Education
audience. Uniform Junction has
Priyavrata commented that the
an inhouse team that curates,
entire thesis of the new policy is
evaluates and determines what
based on replacing the concept
works from the student’s point of
of rote learning with experiential
view.
learning and learning through
Mafatlal,
the
Catering to the need of the hour Priyavrata rightly proclaims that online education is not just the
Tapping into the new Trends in Education
other
edtech companies. It is as simple
Policy)
avenues.
in
He
2019,
further
as providing the devices or giving
It is dispensing life skills along with
reveals that Uniform Junction
the kids the ability to learn in
the K-12 curriculum and actively
is equipped to assist the state
remote areas. Priyavrata believes
promotes non-curriculum-based
as well as the CBSE boards to 17 | 2021
Education
become accustomed accustomed with the new
the business point of view, x10ed is aggregating
policy structure.
programs from Israel, the way Uniform Junction does in India.
He further explains that Uniform Junction is not a core content creator but a content aggregator.
Priyavrata has clarified that the curriculum-
It caters to the needs of the educators and meets
based K-12 courses would be very India centric at
their demand by bringing on board suitable service
Uniform Junction but the non-curriculum-based,
providers. He explains, “Today, coding has become
the STEM learning and other talent-based learnings
a trending subject and not many schools are
are developed to cater for a global audience. He
equipped to deliver it to their students. That is where
personally does not believe in getting into content
we provide our assistance by connecting them with
development because he believes that with the
a suitable service provider.”
aggregation process he is able to offer new and better contents to the students.
x10ed beyond boundaries and conventions Priyavrata explains, “If there are, suppose. 200 X10ed, an Israel-based analytics solution provider, recently extended its support to Uniform Junction. x10ed is the kind of program that provides programs like Chess, comedy, acting and many more from some of the masters of their respective fields. From
18 | 2021
platforms to teach coding, then our team would scan through them all and list out 7 or 8 out of it. The selection process is based on both technical and non-technical aspects of those service providers.”
Education
He further adds,”STEM is a great program, where,
85 percent control over the organized sector in the
although it is not part of the curriculum, you need
uniform dress business, Priyavrata, the MD and CEO
to be very well connected to what is happening with
of Mafatlal Industries, is looking to address some of
Maths and Technology today. Similarly, if you have
these issues using his e-commerce platform.
hobbies then they need to be encouraged and that is where a School of Music or Arts or Amar Chitra Katha or Legos comes in. We are ensuring life skills along with the curriculum. We are able to meet aspirations that extend from learning English to
“Financial
background
or
your
geographical
background should not limit the personal growth of a person.” explains the co-founder.
preparing for IIT. So some of our programs are not directly involved with the curriculum but they help
Priyavrata accepts the fact that being aligned with
in developing your life skills and become a better
the Arvind Mafatlal Group has opened many doors
human being. We intend to go from 300 to 1,000
for him. But he is not disillusioned by the notion
courses this year.”
that the group name will take it forward. That is why it is called the Junction, he explains. It is old
Aspirations beyond boundaries and economies
values meeting the new economy. Old mindsets meeting new opportunities. It has the advantage of being under the aegis of a big umbrella but is also
Uniform Junction is currently catering only to the
responsible for building up its own brand value.
private schools in the tier-2,3,4 cities for now because there are very few players who have actually cracked the supply chain there. With the Mafatlal group’s
Article by Ujal Nair 19 | 2021
Finance
5 Ways To Borrow When Retired Once you have retired, this should
consolidate debt, as the name
Whether it is a secured loan or
be the time of your life where you
suggests. This will generally
unsecured loan, retirees who
can relax, forget about financial
mean that the debt is paid off
receive their monthly income
worries of the past, and enjoy
over a longer period. Additionally,
from the government can take
your golden years. Unfortunately,
the interest rate may well be
out a payday loan, only repaying
pensions all too often don’t cut
lower tan any current debts you
it when their next influx of cash
it, and you may find yourself in
have, which is a huge benefit.
comes
a position where you need some extra cash to tide you over. But what can be done? Thankfully, there are a variety of solutions available to you, so you can live life once you have retirement without having to hold onto financial worries of the past. Listed are some of the very best options for you to access funding when you need it the most.
Car Loan Car loans can be a great option for those who have retired and need funding fast. This is easy to do as it is secured by the vehicle that you are purchasing. Paying this in cash can also help to save
in.
You
should
only
consider a loan such as this if you
Unsecured Loans
know you are receiving adequate funds to repay it. Never borrow
Unsecured loans are a great form
money if you think it will put you
of lending when retired. This will
in a worse position in the loin run,
not put any of your valuable assets
causing further financial damage
at risk, so it is certainly something
and stress to you.
to consider if you need cash fast. You can take out a loan, and pay
Mortgage Loans
it back over monthly repayment, often within a timeframe that
Mortgage loans are extremely
suits you. Additionally, many bad
common and are accessible to
credit direct lenders in the UK,
anyone who owns property. This
meaning you can access money,
type of loan uses your home
even if you have not been able to
as collateral when you borrow
maintain a perfect credit score in
money. This is great if you need
the past.
cash fast to tide you over in the short term. If you think you
Payday Loan
cannot pay this back due to a lack of income, then do not go down
interest but only works if it doesn’t Although you may not be working
this route. However, for many this
anymore, payday loans are not
is an ideal route and to take out a
exclusively available to those
mortgage loans can help you get
who are expecting a next payday.
the cash you need to cover any
This is a type of loan that
Almost anyone can get payday
emergency cost that have come
is
loans, and this includes retirees.
into your life.
delete your savings entirely!
Debt Consolidation Loan
specifically
20 | 2021
designed
to
Finance
21 | 2021
Investment
22 | 2021
Investment
100% Foreign Investment Law is part of Abu Dhabi’s 50 year strategy: HE Mohammed Ali Al Shorafa Al Hammadi of ADDED
23 | 2021
Investment The largest and the wealthiest
operations for 100-percent for-
for the rollout of the Foreign Direct
emirate in the UAE with 95 per-
eign-owned companies in all
Investment Law that introduces
cent of the total oil production
economic activities, except 85, of
100 percent foreign ownership.
coming from it, Abu Dhabi has
Abu Dhabi. The amended Com-
HE Mohammed Ali Al Shorafa
been attracting foreign invest-
mercial Companies Law came
explains that the 100 percent for-
ments for a long time now. The
into effect on 1 June 2021.
eign ownership law has not only attracted foreign investments but
Emirate has state-of-the-art infrastructure and proximity to Af-
International
Maga-
has also supported the Emirate’s
rica, Asia, Southern and Eastern
zine had approached Abu Dhabi
capability to hire competencies,
Europe and of course the Middle
Department of Economic De-
motivate economic growth and
East markets.
velopment (ADDED) to further
boost the investor’s confidence.
Business
understand the purpose of this Abu Dhabi has always been a
decision and how organizations
The revised laws are expected
haven for the working profes-
across the globe were acknowl-
to especially benefit business-
sionals with permissible tax-free
edging this new move from the
es in next-generation, innova-
incomes and high employment
Emirate.
tion-focused sectors that need to move quickly and decisively.
standards. The Free zones are proving to be the perfect incu-
Sharing his insights with us, His
Streamlining the setup process
bation points for the startups.
Excellency (HE) Mohammed Ali
and
Amidst all this comes the an-
Al Shorafa Al Hammadi, Chair-
helps companies be more com-
nouncement of the new 100%
man of ADDED, established at
petitive, thereby strengthening
Foreign Ownership Law that
the first instance itself that this
Abu Dhabi’s value proposition
permits the establishment of
move is aimed to contribute to
for investors. Abu Dhabi has also
100-percent foreign-owned com-
the flow of foreign investments in
launched the “Thrive in Abu Dha-
panies in Abu Dhabi. It is in line
Abu Dhabi.
bi” Programme, which helps in-
shareholder
requirement
vestors obtain the Golden Visa,
with the Federal Decree-Law No. (26) of 2020 amending the pro-
The making of a foreign invest-
and contribute to promoting and
visions of Federal Law No. (2) of
ment hub
boosting the private sector’s con-
2015 on the Commercial Com-
tribution to the development pro-
panies Law and its amendments
The Emirate of Abu Dhabi has
by adding articles that permit
been established based upon the
the establishment of 100% for-
standards and practices of open-
Diversified investment opportu-
eign-owned companies in Abu
ness, which in turn led to promot-
nities
Dhabi.
ing the leading and significant
cess.
role of the private sector. This is
ADDED has revealed that a series
The Abu Dhabi Department of
linked to boosting the private sec-
of incentives and programs in
Economic Development had also
tor’s contribution to the GDP, and
support of vital industries, official
unveiled a list of registered com-
in line with the economic diver-
statistics show that FDI stock in
mercial and industrial activities
sification policies that helped in-
manufacturing
that were open for ownership
crease the non-oil sectors’ contri-
percent in 2020 from overall FDI
by natural and legal non-citi-
bution to the Emirate’s GDP. This
Stock in Abu Dhabi, compared
zens.This basically permits the
was cited as one of the reasons
with 7.7 percent in 2007. Abu
24 | 2021
recorded
16.7
Investment Dhabi has established partner-
the pandemic, the Abu Dhabi gov-
wards the realization of the wise
ships and garnered investments
ernment took several initiatives
leadership’s vision that aims to
from oil, gas and the hydrocar-
including allocation of AED 5 bil-
promote the Emirate’s competi-
bons sector. It has also revealed
lion to support water and electric-
tiveness globally. The new 100%
that the mining and quarrying
ity for citizens, commercial and
Foreign Investment Law enhanc-
captured almost 19 percent of
industrial sectors, AED 3 billion
es the openness and resilience of
Abu Dhabi’s overall FDI stock in
for credit guarantee programme
the economic climate by adopt-
2020 compared with 6 percent in
to stimulate the financing of
2007.
SMEs, AED 1 billion for financial
ing the best modern practices in
markets and enacting resilient inHE Mohammed Ali Al Shorafa Al
vestment laws.
Hammadi clarified that the proposed list of business activities
In May 2021, the Abu Dhabi Ju-
was confined to a limited number
dicial Department extended the
of sectors and activities so that
scope of use of interactive bilin-
it could adhere with the national
gual claim forms to cases before
security and national interests of
the Courts of Appeal, allowing
the state. The Abu Dhabi Invest-
foreign litigants to easily familia-
ment Office (ADIO), the central
rise themselves with court proce-
government hub, was estab-
dures. This builds on other busi-
lished to support global investors
ness-friendly reforms to meet
looking to grow in the Emirate.
the needs of Abu Dhabi’s large
Any foreign expat can reach out
multinational community, includ-
via ADIO’s webpage.
ing the digitalization of almost all procedures and the appointment
With the entrepreneurs, for the
of foreign judges.
entrepreneurs ADDED reports that the pandem-
the investment areas, and aligned with Abu Dhabi’s economic strategy for the next fifty years.” Abu Dhabi is continuously working to ease and simplify doing business in the emirate, with an objective to strengthen the private sector, increase collaboration among the stakeholders and provide world-class services. The decision to offer a 100% Foreign Ownership scheme in Abu Dhabi comes to encourage foreign and global companies to open their businesses and shift their headquarters to the UAE. Such a move will boost the overall Abu Dhabi economy and
Along with large corporate hous-
ic has brought the limelight over
es, Abu Dhabi is also promoting
the ICT (Information and Com-
small and medium enterprises
munications Technology) sector
by launching programmes, initia-
and therefore, the cumulative FDI
tives and incentivizing packages
in the sector has increased con-
such as Ghadan21 and Abu Dha-
siderably in Q1 of 2021. It further
bi Accelerator Programme. HE
claims that with the new law, en-
Shorafa revealed to INTLBM that
terprises and entrepreneurs are
these initiatives and stimulus
able to procure their commercial
conditions they need to operate.
packages helped the entrepre-
licenses within a few minutes.
Investors from all over the world
In order to alleviate the stress of
ty in the Emirate. The move promotes an open, flexible and business-friendly environment across sectors, demonstrating the government’s commitment to providing companies with the optimum
can establish, own and operate in
neurs to overcome the aftermath of the COVID-19 crisis.
guarantee business sustainabili-
HE Mohammed Ali Al Shorafa
one of the region’s most compet-
Al Hammadi concludes, “It is
itive markets with greater clarity
considered a significant step to-
and certainty. 25 | 2021
Insurance
Young customers, young leaders drive the next disruption in insurance
Rico Yan, Julie Vega, Puneeth Rajkumar, Sidharth
among the younger generation. It is being reported
Shukla, Abir Goswami, Raj Kaushal, Amit Mistry, Brit-
that many of the new fund investors and insurance
tany Murphy, Heather O’ Rourke all have something
clients in 2021 belong to the 25-30 age group. An
in common between them. They were all talented,
age where, either they are starting a new job or plan-
very popular in their respective segments and they
ning to start a new family. A group of young talents
all died of cardiac arrest. The heartbreaking part of
who have already begun securing the future for
their stories is that they were at the prime of their ca-
themselves and for their family.
reer when the tragedy struck. These tragedies have made the common folks realise the vulnerabilities of our health. How delicate our body is and how grateful we should be for each of the days we wake up and go to sleep. The Covid-19 pandemic has given a reality check of our existence, the importance of time and the value of relationships. The pandemic has given a new realm of perspective towards financial security and a healthy lifestyle. It has driven many towards financial planning and this is increasingly being observed 26 | 2021
Insurance
Empowering the youth with security People who are at the autumn of one’s life have the capital and the resources but little or no liabilities or responsibilities in their family
but a young adult who has limited income capacity has the largest number of liabilities and responsibilities. A young adult, typically in the 25-30 age group has to calibrate his/her income to take care of his elderly parents and most probably an infant child. Tapping on this strenuous situation, many of the insurance companies are tailoring their products and services towards these young breadwinners. The recent Covid-19 pandemic just pushed the cynical ones as well. 27 | 2021
Insurance While scanning through several insurance schemes of several companies, you are bound to come across Cocolife, a Philippine-based insurance company. It is one of the first insurance companies in the Philippines to be certified by ISO 9001:2008 certification and regulated by the insurance commission. Here are some
of the healthcare products offered by Cocolfe today.
secures his/her family’s financial well being in the
Cocolife has something called HMO program that
event of any untoward incident. The company also
requires fixed premium per enrollee for convenient
has an insurance plan that allows an individual
access to cashless medical treatment through a
to insure and invest for all kinds of needs, be it a
network of hospitals and clinics across Philippines. The company provides a customizable and flexible program to cover in-patient care, out-patient care, emergency
services,
preventive
care,
annual
checkup, dental coverage, and financial assistance in the event of an accidental or natural death. It also has a program that assists an individual with financial support in the event of hospitalization due to an illness or accident.
lavish wedding, new house or car and subsequently, children’s education. Cocolife has made provisions for customizations to accommodate an individual’s retirement plans. The company is aggressively promoting a new product called the ‘Zenith Med’ that allows access to high investment returns and exclusive access to a wide network of accredited hospitals. The company reveals that the plan can be used for any kind of medical needs including
Cocolife also provides a set of services that
pregnancy, critical illness, major hospitalization and
protects not only an individual’s income but also
emergency cases.
28 | 2021
Insurance Young Turks bear the flag to the future With the insurance sector getting a wider acknowledgement on a global scale from the younger generation, it is imperative for the companies to hand over the baton to the age group that understands the new age demands. Board members at Cocolife have appreciated and welcomed the contributions of its younger members and thus, have appointed them at the helm of affairs for some key portfolios.
Atty. Martin A. Loon
President and CEO of Cocolife
Atty. Darren De Jesus
President of Cocogen Insurance company
Atty. Julio Bucoy
President of Cocolife Asset Management company and Atty
Josine Alexandra S. Gamboa President of Cocoplans
Cocolife appointed a slew of young bloods to chart a new path in the market. This includes president and CEO, Atty. Martin A. Loon. Cocogen Insurance company, a subsidiary of Cocolife, has also appointed a new president, Atty. Darren De Jesus. Atty. Julio Bucoy was appointed the president of Cocolife Asset Management Company, another subsidiary of Cocolife. Another subsidiary worth mentioning is Cocoplans, a company that offers a suite of pension plans and education plans. It is headed by Atty. Josine Alexandra S. Gamboa.
29 | 2021
Insurance A glimpse of some of the achievements of Cocolife under the stewardship of the new young president and CEO, Martin Loon, • Due to the swift digitalization process before the pandemic ,the entire workforce was able to transition to a work from home model. • Ensured reduced processing time of all COVID-19 claims alongwith 24/7 accessible hotlines. • Cocolife impacted 50,000 Filipino families with about P1 billion in Covid-19 related claims • Cocolife marked one of its highest income in 2019, despite the pandemic • The Customer Experience team expanded its servicing capabilities from 5 to 7 days a week. • Servicing more than 81,000 insurance-related concerns in 2019, an increase of 450% from 18,000 in 2018. • Increased client retainship by at least 5 percent. • Cocolife launched its first online application form. • Set up of a new Data Loss Prevention system, a new firewall and a new virtual private network for data protection.
30 | 2021
Insurance Cocolife is looking up to these ‘millennial’ leaders
pace for the post-pandemic era.
to tackle the new disruptions in the ever-evolving insurance and finance sector. The new gens are
Young leaders today bring with them the exuberance
poised for a fresh approach for the company that
and the agility to meet the evolving demands and
could lead them through the new digitalization
the knowhow for tackling the new disruptions. It is
wave and stay relevant to the latest generation of
being observed that the whole new technological
customers. The agile and adaptive thought process
capabilities at the disposal of the current generation
of the young and the mentorship from the more
is enabling bolder risks and faster decisions.
experienced board members is expected to set the
Young leaders like President Martin Loon have significant advantages. They exhibit boundless concepts and skills at presenting their goals. They are dynamic and have the courage to take risks. They are full of optimism about their proposals for variations. With the unrelenting progress of Cocolife, Atty. Martin Loon has proven that he is indeed a good leader. He has an open mind and takes into consideration others’ ideas and points of view. He makes good leaders as well. He initiates good examples and motivates his subordinates to excel in their craft.
Mincing words from Cocolife chairman Justice Bienvenido Reyes
Bienvenido Reyes Cocolife chairman
31 | 2021
Insurance
Modern Insurance companies excelling at securing health and wealth
32 | 2021
Insurance
33 | 2021
Insurance
W
ith a net worth of around
Today,
portfolio
one’s investment and insurance
366.8
includes Healthcare, Individual
plans to help grow money. It also
pesos in 2020, the insurance
insurance,
aids in a comfortable retired life.
industry in the Philippines is
Bancassurance and more.
billion
Philippine
its
product Group
insurance,
In the same scheme of things
reported to account for 1.4 percent
is Cocolife’s Zenith Med that
of the gross national income. As
Delving
per a report, the industry has
portfolio,
a
returns and exclusive access to
actually posted a decline of 8.6
Health insurance program that
the widest network of accredited
percent as compared to the
provides
hospitals.
2019 figures. However, the 2021
flexible
figures are turning out to be quite
a vast network of accredited
Cocolife
positive on a YoY basis. Where
service providers and facilities
innovative
the expenditures on leisure and
nationwide with prompt and ready
packages to meet the needs of
luxury items are going down,
assistance through their 24-hour
an organization. Cocolife has a
items pertaining to health and
medical helpline. Cocolife also
group term insurance that pays
finances have marked a strong
provides ‘Daily Hospitalization
the creditors the outstanding
growth in the financial year of
benefit’, ‘Medical Reimbursement
loan balance in case of insured-
2020-21. This is largely credited
program’
party
debtor’s death. The ‘Group Yearly
to the pandemic.
administration program’. While
RenewableTerm Insurance’ pays
the daily hospitalization benefit
the beneficiaries of the deceased
Preparing for the next financial
lends financial support to those
and provides a flexible coverage
meltdown
who are hospitalized for some
option based on the salary and
sickness or accident, the medical
the tenure.
into
its
insurance
Cocolife
has
customizable coverage,
and
and
access
‘Third
allows access to high investment
to
It is not just in the Philippines,
reimbursement program helps to
but across the globe, people
cover the expenses incurred.
has introduced some Group
Insurance
Major insurance service providers
have realised the importance
have tied up with financial houses
of savings and a good health
Cocolife has a whole set of
to
insurance
products
the
Cocolife has designed insurance
something that has been echoed
individual needs. From financial
products designed exclusively
by some of the leaders of the
coverage for injury, disability
for UCPB clients. There is one
insurance industry in the country.
or
customized
product that ensures capital
One of them being, Cocolife.
investment and insurance plan
growth and protection by offering
Awarded,
Outstanding
that could be tailored as per the
an interest rate that is claimed
Life Insurance Company in the
goals in life. The firm’s ‘FLEXI
to be higher than any ordinary
Philippines’,
Education’ program is designed
savings product. The company
Cocolife
to support the child’s education
has also designed a single-pay
has been serving the Philippines
in all circumstances. FLEXI from
variable life investment product
market for the past 43 years.
Cocolife allows one to design
with an increasing death benefit.
Business
34 | 2021
cover.
‘Most by
This
is
International
Magazine,
death
that
to
cater
a
to
provide
Bancassurance.
Insurance Under this plan, Cocolife invests
Many companies have ventured
was telling them how we respond
the investors’ money in six
into the smartphone ecosystem
to the pandemic will really define
fund options based on the risk
with their own apps and Cocolife
how the future generations of
appetite. There is another single-
is a prime example of it. It was
Filipino
pay product called the ‘Zenith’
recently reported that Cocolife
Cocolife will remember us. I don’t
that allows one to build wealth
signed a virtual contract with
want to be remembered as an
with high returns on investment.
Questronix
to
insurance company that shirked
develop its own mobile app.
from the responsibility that came
Through
smartphone
out of this pandemic. I want to be
platform, Cocolife intends to offer
remembered as a company that
There was a trend towards digital
its users seamless transactions
really was there, was consistently
transformation in 2018-19 in
and 24/7 access to policy details.
there.”
Expanding to the digital horizon
the banking, healthcare, finance and even the insurance sector. The pandemic accelerated the whole transformation process and today there is a visible difference in the way we conduct our daily shopping, experience entertainment, perform our tasks at work and the way children study. The
whole
digital
revolution
among the common masses has led to a rise in online payments with many opting for cashless transactions. This new disruption is
also
promoting
operation
efficiencies, business continuity and
enhanced
emphasis
on
information security. The digital platform has proved to be one
Corporation this
insurance
clients
of
The new mobile app is also meant to provide customer support and
Insurance is meant to help people
digital claims.
continue living their lives, keeping the
transactions
open
and
According to Cocolife President
keeping the flow of income alive.
and CEO Atty. Martin Loon
The internet and smartphone-
(pictured
based
above),
transformation
has
the
digital
extended
insurance
proving
to
be
market a
is
smoother
in the backend of its business
customer
operations as well. Since this
leading to a rise in the support
initiative was taken even before
and faith towards the insurance
the onset of the pandemic, it
industry. Companies like Cocolife
enabled its entire workforce to
have garnered good faith among
manage the internal processes
the insurers across the globe and
from the comfort of their homes.
this trust factor is going to help
A point to note here is that with
the insurance industry remain
the new work norms in place
robust in all future adversities.
experience,
thus
during the pandemic, Cocolife was able to pay out P1 Billion in Covid claims. Martin claims that his sales team was actually able to sell out more policies by
of the best tools against all
leveraging the new opportunities.
future disruptions. The story has
The president adds, “The board
turned out to be the same in the
readily agreed when we gave the
insurance industry.
rationale for that decision. And I
35 | 2021
Interview
36 | 2021
Interview
A
n average human being, especially the one who
pected to cross over 6,390 billion USD by 2025. The US
earns a monthly salary, tends to hoard his earnings
holds the biggest market share for the insurance industry,
instead of investing them for wealth generation. This is
followed closely by China and subsequently by some of
mostly due to a lack of confidence in most of the finan-
the European countries. So, a rising market leader in Asia
cial schemes or due to general anxiety. Insurance has
does tend to grab the attention of the world. International
traditionally been one mechanism that not only provides
Business Magazine came across Cocolife, a leading in-
safety and security but also promotes economic growth
surance solution provider in the Philippines, which is said
along with savings.
to be the number one Filipino-owned stock life insurance company and Group insurance provider. The company
With most of the health organizations across the globe
won ‘Most Outstanding Life Insurance Company, Philip-
declaring that the worst of the pandemic is behind us, the
pines 2021’ and ‘Most Outstanding Healthcare Provider,
global economic recovery is imminent in 2022. According
Philippines 2021’ titles. It is the first ISO-certified Filipino
to a report by Moody, the global life insurers’ investment
life insurance company.
margins will remain squeezed despite rebounding bond yields. The same report claims that the social issues and regulatory changes will gradually reshape insurance demands and sales practices.
To learn more about the services and solutions from the insurance organization, we spoke to Atty. Martin Loon, president and CEO of Cocolife. Following are the
The global market size for the insurance sector is ex-
excerpts of the interaction -
Atty. Martin A. Loon
President and CEO of Cocolife
Atty. Julio Bucoy
President of Cocolife Asset Management company and Atty
Atty. Darren De Jesus
President of Cocogen Insurance company 37 | 2021
Interview
How was Cocolife able to garner its highest income, despite the pandemic? First, it would be the implementation of cost-saving initiatives that have lowered the overall expenses of the
company’s operations. Even before the pandemic, the management explored the options of creating a work from home set up that would not only lower overhead costs but would also increase employee morale. Second, credit must be given to the exemplary performance of Cocolife employees. When management initiated the work from home set up, it ensured that the Cocolife employees were equipped with the necessary tools to be able to provide improved and efficient service from the safety of their homes. Aside from this, we emphasized employee welfare by implementing efficient systems that allowed our employees to excel while assuring that all employees would retain their positions despite the economic downfall caused by the pandemic. Third, the management focused its efforts on improving customer servicing. Thus, resulting in goodwill with our clients. Cocolife has been able to cover almost a billion pesos and counting for Covid-related hospitalization and death claims. While pandemics are exceptions for coverage, my team and I believed that servicing human lives matters over profit. Moreover, during the pandemic the operations of Cocolife shifted to a 24/7 around-the-clock model in order to be available to clients at any time of the day.
Describe business operations at Cocolife before the pandemic hit, during the pandemic and in this post-pandemic period? Prior to the pandemic, the gauge of customer satisfaction was different. Our day-to-day activities would focus on ensuring the happiness of our clients in our branch operations. This changed during the pandemic because our capacity to physically interact with our customers was replaced by virtual communication platforms. During the pandemic, our consumers needed more flexibility with physical documents and we have addressed these gaps by adjusting our processes to accommodate virtual transactions. We saw an increase in our website payment registration and we have also implemented a virtual payment set-up. When the severity of the pandemic decreases, Cocolife is looking at continuing the adjustments the company has made during the pandemic. We have seen the benefits and opportunities of our new systems and we’re excited to leverage the experience and proficiencies we’ve gathered during the last 2 years.
38 | 2021
Interview
How is Cocolife incorporating the latest digitalization tools in Insurance, Healthcare, and other business lines? With the new normal brought about by the pandemic, digitalization is rapidly becoming the standard in the insurance industry. Cocolife has embraced this shift to digitalization. We are looking towards a customer-centric strategy that will further improve client satisfaction and encourage others to pursue their own policies through our platform. It should be noted that prior to the official launch of our digitalized services, our company had already moved the majority of our transactions with our customers online in order to ensure the safety and welfare of our clients in the light of the pandemic. Cocolife has already made its products and services accessible through its own online platforms. Its B2C app and website will soon be the primary tools and platforms that will provide the best possible customer experience for our clients. We took note of the increasing trend for digital services in the country even before the pandemic hit and quickly addressed this need by creating its own app. Cocolife is only beginning to scratch the surface when it comes to digitalization as more innovations for the company in this field will continue to expand.
What are the core USPs of Cocolife in the Filipino market? The company prides itself in offering a comprehensive suite of financial products: from traditional life, variable life, group life, health, motor, fire, accident, liability, and other insurance products to mutual fund investments— everything you will need to protect and ensure you and your loved ones’ financial security — Cocolife has it.
39 | 2021
Interview
Please describe the unique features of your subsidiaries - Cocoplans, COCOGEN insurance, Ultra Security Services and Cocolife Asset Management. COCOGEN Insurance offers a wide array of quality and innovative insurance solutions designed to protect everything a Filipino values, from tangible, hard-earned assets such as one’s home, business, and personal vehicle, to something as priceless as loved ones and our self. What sets COCOGEN apart is our commitment to always stand by our clients’ side. We have created new insurance products to cater to the new needs of the market. These include the ‘COVID-19 Assist+’ to help maintain peace of mind during the pandemic. Our Pro-Tech insurance helps protect our client’s main tools while working from home or learning online in this new normal. Parcel Protect is meant for deliveries during the quarantine period. Amidst the challenges brought about by the pandemic, COCOGEN strengthened its relationship with its clientele through swift issuance of policies for all the product lines as well as incorporating fast processing and evaluation of claims. We have also kept our producers in mind. Our agents were given the option to accept their commissions through fund transfers in their desired banks and we also prepared monthly training and refresher sessions for them to be better equipped in the ever-changing business landscape. Cocoplans takes to heart its mandate of serving the Filipino people by consistently finding ways to better the delivery of our services. When lockdown restrictions were put in place to quell the spread, Cocoplans was quick to pivot by the provision of online banking facilities and an online service interface to continue servicing its clients. We also have our 24-hour Family Assistance facility to meet the needs of our OPTIMAX clients, especially during the pandemic. We also recognized the fact that we have clients who do not have access to online facilities, and when lockdown restrictions were eased and our industry was allowed with limited operations,
40 | 2021
we had frontliners stationed at our Corporate Business Center to cater to the needs of our walkin clients. We also continue to accommodate online deposits of benefit pay-outs to ensure that our plan holders are able to receive their benefits during the pandemic. All these with our goal in mind of servicing the Filipino people better. Ultra Security Services provides a variety of security services with specializations in asset and perimeter protection. Under the guiding values of the parent company, Ultra Security Services promises to provide the best service to their clients by employing industry professionals and by providing comprehensive training to any person prior to any deployment. Cocolife Asset Management is the investment manager and principal distributor of three Mutual Funds: United Fund, Inc. (UFI), Cocolife Fixed Income Fund, Inc. (CFIFI), and Cocolife Dollar Fund Builder, Inc. (C$FB). United Fund Inc. is a growth-oriented mutual fund, which seeks to maximize income and maintain the liquidity of investments. It focuses on medium to long-term capital appreciation through substantial investment in blue chips and growth stocks listed in Philippine Stock Exchange. Cocolife Fixed Income Fund, Inc. is an income-oriented mutual fund, which seeks to generate regular and steady interest income, consistent with its policy to preserve capital and to maintain liquidity of its investments through a diversified portfolio of corporate bonds, government securities, and other fixed income institutions. Cocolife Dollar Fund Builder, Inc. is a growth and income-oriented mutual fund, which aims to provide investors with long-term capital appreciation. The fund seeks to generate long-term total returns from interest income and capital growth by investing in a diversified portfolio of US dollar-denominated fixed income and equity investments.
Interview
Enlighten us about the corporate social responsibilities undertaken by Cocolife. In line with Cocolife’s motto of ‘Believing in the Filipino’, the company’s corporate social responsibilities have been geared towards giving back to the sectors that need it the most. We have continued our program of providing free insurance to Filipino farmers. It focused on championing humanitarian efforts by donating to various institutions such as the Tanging Yaman Foundation during the height of the pandemic. Cocolife was among the first companies to donate to the UP National Institute of Health for the purchase of a Real Time-Polymerase Chain Reaction (RT-PCR) machine for Covid testing that was urgently needed in the early months of the pandemic. Cocolife provided legal assistance to non-government agencies like the Purple Center Foundation and the Tondo Community Initiative; both of which serve the urban poor and provide livelihood assistance and education to out-of-school youth and children living in dumpsites.
As a leader of the Filipino Insurance sector, we would like to know your insights about the current scenario of the industry and the potential it holds in the next 5 years. Currently, the Insurance industry has been in a process of adjustment to rapidly meet the needs of clients since the pandemic began. Simply put, everyone is in the process of adjusting to this pandemic. The negative externalities brought by the pandemic to both the income streams and the health of the clients have caused the insurance industry to further innovate and pursue client-centric practices which we are seeing today through digitalization. In the next 5 years, we can expect the industry to grow with the general public realizing the importance of insurance due to the impact of the pandemic. A recent study conducted by our online research panel, the COCOLIFE IDEA HUB, showed that while the majority of respondents realized the importance of insurance, purchase decisions have also been hindered due to financial constraints brought about by the pandemic. To bridge this gap, Cocolife is
aggressively developing products that address the realistic needs of Filipinos across all economic groups and are adaptive to their life stages. Cocolife recently launched its new line of protection plans: the Cocolife Protect and Protect Plus and Cocolife Term Shield, a renewable and convertible term life insurance plan. These comprehensive plans with affordable premiums are designed to provide maximum financial protection for Filipinos to feel more secure especially during these trying times. We can also expect the emergence of ‘personalized insurance’ plans that are created and implemented through the use of advanced data analytics. Moreover, the pandemic has emphasized the importance of business continuity plans for insurance companies and the importance of continuous innovation to further client welfare and satisfaction by moving towards contactless transactions that ensure the safety of our clients.
41 | 2021
Lifestyle
42 | 2021
Lifestyle
The festive season is upon us all and the excitement
new distribution partner, Bhawar, to expand in the
for a perfect gift to our loved ones is looming around
market.
the corner. The e-commerce websites are filled with the discount offers, sales periods and price drop no-
Ujal Nair, the editor for International Business
tifications. This is exactly the period when a gifting
Magazine, had an interesting early morning chat
item like a lighter catches our eyes. And this is that
with Lucas Johnson, Associate Vice President
spark in a buyer that Zippo, a global leader in lighters
Zippo Global Marketing and learnt about the future
is looking to kindle in this festive season.
roadmap of the Zippo brand. In this interaction, he revealed some brief details about his partnership
Zippo, the US-based lighter brand, opened its first
with Amazon.in, Myntra, Tata Cliq Luxury and other
ever wholly owned subsidiary in India, Zippo Light-
e-commerce platforms to strengthen the overall
ers India Pvt. Ltd. in 2020. It is now working with a
brand value in India. 43 | 2021
Lifestyle Here are the excerpts from the
There are the flint ones, the non-
necessarily look at the most
interaction with Lucas –
flint ones, the refillable ones and
popular style of lighters right
the non-refillable ones but it is
now. Your input and your tastes
What are your plans for the
more of a personal preference.
in particular, what you are doing
Golden Quarter of 2021?
We largely see that the interest
with the lighter, what character-
is shifting more towards the re-
istics you are looking for is what
We have a lot of things going
fillable. This is largely due to the
counts. However, we have no-
on this year for the October, No-
product quality, the longevity of
ticed that there is a big appetite
vember and December months,
the lighters and the increased
for the refillable style, flint style
as you said, the golden quarter
concerns about the environmen-
lighters.
of the year. We have particular-
tal impact. The increasing shift
ly a lot to look up to in India. We
towards the flint and wick style
Zippo lighters were present in the
recently did some consumer re-
lighters is mostly due to the envi-
Indian market for the past several
search in India to understand our
ronmental concerns.
years, only through the third party distributors. About 10 years ago,
consumer base and now we are utilizing that information for the
What are your expectations from
we had some decent business in
festive season. Zippo lighters are
the APAC regions?
India through these channels but there were some misconceptions
a great gift and it is something that the people really cherish, al-
Our brand is nowhere near ‘es-
going around about our products.
most synonymous to having a
tablished’ in many of these mar-
There were a lot of dirty distribu-
badge of honour.
kets and as a marketer it gives
tion channels and parallel mar-
me the opportunity to convey the
keting and exporting all over the
We want to educate our consum-
rich heritage the brand has. We
world. We had a really concerted
ers in India about authenticity.
are confident that we would be
effort to clean up the issue and
We are tackling some of the chal-
able to do some really good busi-
really understand where our busi-
lenges with counterfeit as well.
ness in many of these markets.
ness really is.
In India, for example, we have How big is the lighter industry
doubled our sales in the last 12
Counterfeits and lookalikes are a
globally?
months and we look forward to
big issue for us in several parts
doubling it further in the coming
across the world and that tells
The overall US lighter industry is
12 months as well. We believe
us about the desirability quotient.
close to half a billion units a year.
that we can sustain the rapid rate
We analysed the socio-econom-
The market is currently led by
of growth for some time now giv-
ic profiles of the population to
Zippo and Bic. From the geogra-
en the information that we have
understand the consumers who
phy perspective in the US, in gen-
with us.
would be interested in buying our lighters. That is when we un-
eral, the sales are evenly distributed. From an age perspective,
Coming to India, what are the
derstood that in India, we have
it is majorly the millennials that
preferences of your Indian con-
around 40 percent of the popu-
comprise our consumers.
sumers? What is your strategy
lation that could be Zippo con-
based on it?
sumers. So India knows about
What are people’s preferences when it comes to lighters? 44 | 2021
Zippo as a brand and it gave us a Our consumer research did not
new opportunity to educate them
Lifestyle about the counterfeits and looka-
What are your strategies to com-
educating the customers. We
likes in the market. That is how
bating the counterfeits?
showcase to them that nothing comes close to the authentic Zip-
we started our own subsidiary company in India, Zippo Lighters
We have a three-pronged strat-
India Pvt Ltd.
egy to combat the counterfeits.
po lighters experience.
We have hired private investiga-
What are the opportunities for
We are actively looking to hire
tive firms to work in India with
Zippo lighters in the Middle
more people in the coming 12
local law enforcement, local cus-
East?
months as we actively look to
tomer agents,
add more resources to our dis-
then to enforce action against
tributors.
counterfeiters who are producing
to identify and
counterfeit products in India. So What are your strategies for the
we are trying to cut off the sup-
Indian market in the coming few
ply of these counterfeits at the
months?
source, into and within India. We have been very successful with
We work with a number of different distributors in the Middle East. So there is opportunity there as well. However, for this year, we are more focussed on the Indian market than the Middle East but we have our eyes set on that
There is the brand marketing ac-
this strategy with other markets
tivity. Our marketing activity really
like China. We had several raids
kicked in here during the festive
in China where we shut down a
season. We are positioning Zippo
number of counterfeiters.
As the leader of a premium glob-
casion. It is not just for smoking
The second part is educating the
keep in mind for a strong brand
but for many other occasions. It
retailers about the issue. We are
following?
makes up for a lot of interesting
educating them about intellectual
use cases and we see our sales
property infringement. We have
The Founder and the inventor of
spike during the gifting season. It
been taking strict actions against
the Zippo lighters, George Grant
is gifted in particular to reflect and
the culprits.
Blaisdell, had a very inspiring
lighters as the lighter for any oc-
showcase the particular tastes and interests in the individual. On
We are working with some of
the other hand there are some
the e-commerce retailers to help
promotional activities where we
them identify other products that
are working with some of the
infringe our intellectual property.
e-commerce platforms. Our up-
They want to do the things that
coming activities are targeted for
are right and do the legal thing
Flipkart and their ‘Big billion days’
and that is why we had good
and Amazon and ‘Black Friday
success in working with Tata
Sales’. Tata Cliq is a great partner
and Amazon. These e-commerce
we started to work with. There
websites have helped us to take
are some promotional activities
down products that are infringing
and offers planned for their Diwa-
upon Zippo’s intellectual property.
li sales. There is also one planned with Myntra.
The third part of the strategy is
market as well.
al brand, what are the aspects to
quote that stays strong in this family business – ‘Build your brand with integrity, stand behind it 100% and success will follow.’ So while the entrepreneurs and the retailers may not be building the product, they stand strong with the brand. Stand with a great brand to support you and success will follow.
Article by Ujal Nair 45 | 2021
Logistics
46 | 2021
Logistics
47 | 2021
Logistics DHL Express, a global leading
which is fast growing as a global
Shareef
express as well as logistics
trade and e-commerce hub. By
Executive Officer of Abu Dhabi
provider, has further strengthened
establishing our presence at the
Airports,
the UAE presence with building
Abu Dhabi International Airport,
Express’
up a latest logistics hub at the
we reiterate our commitment
is an exciting and welcomed
Abu Dhabi International Airport
to
new addition to Abu Dhabi
(ADIA). The firm stated that it
growth plans and aligning to its
International
is a 15,000 Sqm facility, on a
ambitious 2050 economic vision,
Cargo offering which strengthens
30,000sqm
airside/landside
while simultaneously providing
our presence as a facilitator of
plot, positioned within the ADIA’s
a primary location to facilitate
global trade and bolsters Abu
Future Cargo Area.
DHL’s Middle East Road Network
Dhabi’s position as an important
operations, connecting the UAE
regional and international hub for
The firm also announced that,
seamlessly across the GCC &
air freight.
it is being developed in alliance
Levant countries.”
supporting
Abu
Dhabi’s
with Abu Dhabi Airports Free
Al
Hashmi,
commented: new
logistics
Airport’s
Chief “DHL hub
Future
Al Hashmi further added that,
Zone Authority (ADAFZ) – a
The firm also added out that,
“As a leading logistics provider
wholly owned subsidiary of Abu
the latest facility features a
and one of our valued strategic
Dhabi Airports – and Middle East
10,800sqm built-up area, with
partners,
General Enterprises (MGE).
future expansion potential to
hub is sure to further augment
increase capacity by an additional
value-added logistics and supply
50%.
chain services in the emirate and
As per the announcement by logistics pioneer, its latest airport
DHL
Express’
new
accelerate trade flows moving in
facility creates the firm’s latest
The facility will be well equipped
investment in firming up the
to handle up to 3,600 inbound
global trade links of the UAE’s
and outbound/ transit shipments
The firm also announced that
capital as well as acts in a
per hour, amounting to 86,400
the DHL’s Abu Dhabi operations
consolidated hub inclusive of an
shipments a day, with the ability
have grown significantly over
Import & Export Gateway, Service
to service customers in the
the years; from a facility at AUH
Centre, Logistics Centre, Road
Emirates of Abu Dhabi and Al
Cargo Village, before moving to a
Network, with an initial head
Ain, as well as supporting other
bespoke integrator operation of
count of 210 employees.
countries of DHL network and
more than 4,300m² in the Airport
providing
Logistics Park.
Commenting on this milestone,
solutions
that
will
and out of the UAE.”
improve their efficiency.
Geoff Walsh, Country Manager
As part of the ongoing investment
of DHL Express UAE stated:
It will additionally follow the
plan, a 30,000m² plot of land in
“We are proud to be adding yet
most up to date TAPA security
the Midfield terminal with both
another solid foothold to our
regulations, employing the latest
airside and landside access has
extensive network in the UAE,
technologies across all f the
been leased and the new hub
and specifically in Abu Dhabi
operation.
is starting construction, with
48 | 2021
Logistics completion expected in late 2022. As per the DHL Express UAE statement,
the
development
paves the way and aligns fully with the goals of the Abu Dhabi Strategic Logistics Plan to provide enhanced
infrastructure
and
enable express cargo companies to expand their operations at Abu Dhabi Airports. Saeed Abdulrahman Ghanim – Vice Chairman of Middle East General
Enterprises
(MGE),
stated: “As the world relies more heavily
on
e-commerce
and
smarter supply chains, Abu Dhabi is becoming a key destination and redistribution hub in the region. DHL’s new facility has been established to cater to this growing trend, helping the UAE to become a connecting point to the entire region and the world. We are proud to be part of a vital project designed to help achieve the
UAE’s
outstanding
2050
goals.”
Press Release received on Mail
49 | 2021
Technology
Uniphore acquires Jacada for a new platform in conversational automation
50 | 2021
Technology
51 | 2021
Technology
U
announced re-
automation empower agents
The UX reportedly allows busi-
cently that it has complet-
with the most comprehensive
ness users to use the same
ed its acquisition of Jacada
agent-assist solution,
U-As-
business logic and call flows to
and is unveiling a comprehen-
sist. With U-Assist, agents are
rapidly develop and implement
sive platform that will further
guided in real-time during calls
self-service and agent-assist-
enable enterprises to trans-
with next-best action based
ed applications.
form customer experiences.
on customer intent, conver-
niphore
As per reports, Uniphore’s integrated Automation
Conversational platform
now
combines Conversational AI, workflow automation, Robotic Process Automation (RPA), low-code/no-code capabilities and a business user-friendly UX to transform and democratize customer experiences. This is meant to empower contact center agents to deliver highly effective, personalized and empathetic interactions. Digital transformation is key to contact centers providing the ultimate modern day customer service experience and how conversations
are
handled
during the entire customer journey — pre, during and post
sation content, sentiment and emotion. After the call, agents’ promises made during the call are registered and automation is used to ensure their fulfillment. This merger adds a new level of best-in-class automation to real-time agent-assisted interactions, and a superior agent performance and customer experience.
business user-friendly UX that drives both self-service and interactions
with Uniphore’s industry-leading CA platform bridges the gap between legacy systems of
contact center process
automation and modern-day automation powered by AI.
interaction.
This is said to empower busi-
As per claims, Uniphore’s ad-
rapid development and quick
vanced conversational AI for sentiment, intent and emotion analysis, together with Jacada’s workflow and desktop 52 | 2021
versational self-service solution is enhanced with the addition of Jacada’s multimodal and visual IVR (Interactive Voice Response) capabilities. With the enhancement, customers reportedly are able to approach self-service routine interactions with minimal friction across all channels and leverage digital capabilities on
The integration of Jacada’s
agent- assisted
Uniphore’s U-Self Serve, a con-
ness users to accelerate the
IVR interactions. Uniphore claims that the availability of both attended and unattended RPA increases agent efficiencies with knowledge base integration during in-call with customers to improve accuracies and productivity. The availability of both attended and unattended RPA capabilities could help improve automation of agent interactions (both intelligent virtual agents
implementation of next-gen
and human agents) during
customer experience applica-
the call as well as post call to
tions across self-service and
help drive better customer and
agent-assisted interactions.
agent experience.
Technology “I’m extremely proud of the work that the teams at Uniphore and Jacada have done to make the integration of the Jacada platform into ours smooth and seamless,” said Umesh Sachdev, CEO and Co-founder of Uniphore. “The power of the two platforms coming together, along with our future innovations in the conversational
automation
space will truly transform the customer experience in a range of industries, from sales and marketing, to education, HR, healthcare and beyond.” Dan Miller, Lead Analyst and Founder at Opus Research said, “Conversational Automation really is the next frontier in digital transformation. Organizations have an urgent need for platforms that provide end-to-end support for the customer experience. With the acquisition of Jacada and the integration of its low-code/nocode interface and unattended RPA capabilities, the potential for Uniphore’s platform will grow beyond contact centers and customer service to truly enterprise-wide applications.” Report received from Uniphore.
53 | 2021
Technology
Huawei, recently announced a new partnership at its annual Huawei Developer Conference 2021, for innovating in the financial services via the open banking prospects with partners AppGallery. Business representatives joined Huawei experts to discourse innovative ideas for AppGallery, with attention on client safety. Siri G. Borsum, vice president ofglobal vertical eco-development, financial partnerships at Huawei Consumer Business Group, stated out that, “We are delighted to share our plans for the AppGallery financial services segment. Opportunities in this area have increased lately,
Huawei announces alliance with AppGallery at the Huawei Developer Conference 2021
54 | 2021
Technology and soon we will be welcoming new fintech players who want to make a splash by innovating.” Latest Open Banking Prospects for Financial Security As per the firm’s statement, AppGallery has a global audience of 730 million and with alliance with the Huawei, the firm stated that it is committed to offer them with access to the latest banking and payment applications via the utilization of latest technologies with the aid of their partners. The firm also announced that Noffe is a latest addition to the AppGallery, in the application, open banking technologies are utilized to instil savings habits in Norwegian children. Bluecode offers its European clients a convenient payment solution utilizing out the AppGallery’s QR codes and NFC prospects.
As before, Huawei cares about the financial safety of its clients, is overviewing for partners among FinTech firms to meet the hurdles. Huawei publishes tips for users on how to utilize the open banking to better control their finances. AppGallery powers innovation along with the partners AppGallery announced that they have formed alliance with the Brett King (Brett King), author of the book The Rise of Technosocialism. host of the popular podcast FinTech Breaking Banks, Siri G. Borsum spoke about current variations in buyer behaviour, aimed at enlightening the usability of products. In 2020, the overall account of clients of banking applications upsurged by 45%, which specifies latest prospects for developers.
“Given the changes in the financial services industry, there is tremendous innovation potential in this industry,” Brett King stated. “Today, the largest financial institutions around the world tend to be digitaloriented.” With AppGallery, Huawei hopes to power innovation aiding out the FinTech app developers comprehend their potential while generating revenue. Ms Bersum spoke about the security and protection system created by Huawei. It provides a developer verification procedure, a four-step verification process, additional protection when downloading and installing applications, and a fraud prevention mechanism to ensure the safe operation of applications.
55 | 2021
Technology
56 | 2021
Technology
The Grid unveils NFT podium bridging physical artifacts, digital world
57 | 2021
Technology
T
he Grid, unveiled latest NFT Platform, that will be empowering the clients for the collection of NFTs that act as a bridge for globalized rare physical artifacts
recently. The Grid is also the initial NFT podium for connecting the curation, authentication, blockchain technology for building up a connection to culturally relevant artifacts via NFTs. The firm also announced that, its initial release is all scheduled within November 2021. As per the announcement by the firm, the Grid is a gamified platform that certifies the provenance, ultimately building out a digital “Grid” of collectables while assigning unique NFTs that characterize a snapshot of a physical space of the artifact. The firm also stated that all items are curated, authenticated, assigned source via a blend of photo matching, AI, CV/ML, and blockchain technologies. Post its distribution, the Grid adds incentive instruments to let collectors buy/resell their NFTs strategically in pursuit of the appropriate percentage of NFT’s to redeem the physical artifact. Sher Chaudhary, Co-Founder of Nostalgia Labs, creator of The Grid, the brain behind the LaMelo Ball NFT collection, perceived there was a prospect to build out NFTs connected to a rare physical artifact post sighting a tremendous demand for a NFT tied to LaMelo Ball’s game worn sneakers from a record breaking triple double performance.
58 | 2021
Technology
Sher Chaudhary, Co-Founder of Nostal-
ments are what I call GOAT moments,”
gia Labs, creator of The Grid, stated out
said Karvin Cheung, who will be over-
that, “We’re thrilled to launch The Grid
seeing the creation of NFTs for The
where fans can finally collect real life
Grid.”
memorabilia from ground-breaking performances – and build that collection
He further added that, “I am excited to
digitally, using NFTs.”
work on this project as an opportunity to story tell through NFTs.” Karvin
He further added out that, “The Grid will
is known for the creation of the Upper
break down the barrier to high-end mem-
Deck Exquisite Collection, which has
orabilia through a strict curating process,
received individual trading card he cre-
and directly connect everyday fans to
ated sell for a record $5.2 Million in the
some of the most illustrious pieces in
past year, with certain limited edition
history. We’ll be heavily focused on dis-
sets of cards he created reaching in
tributing the world’s rarest game-worn
excess of a $150 Million market cap-
and music related artifacts on the block-
italization.
chain. The power of The Grid is that it allows us to program the history, owner-
The Grid is Karvin’s NFT debut. “Karvin
ship, and value of historic artifacts.”
is an icon in the hobby. It will be exciting to watch him do what he does best
“The Grid has secured artifacts that are
as this platform grows; his vision for
extremely historic considering the mo-
the collecting community is tremen-
ments that they took place in. These mo-
dous,” Chaudhary stated out further.
59 | 2021
Technology
60 | 2021
Technology
61 | 2021
Technology
Italian centred high-technology firm Leonardo had recently organized a global conference The lunar space economy. The first steps towards an interplanetary generation, on October 19th. This was in tandem with the Italian Pavilion event dedicated for Expo 2020 Dubai’s Space Week. As per the Leonardo’s report, core theme of the event was Moon exploration, the frontier core step for space agencies around the world as well as for private entrepreneurs. The return to the lunar surface is a vital factor in the progression of interplanetary generation, that will shield humanity on Earth and in the future could also be called to guide us towards new places to live in outer Space. As displayed from Leonardo’s CEO, Alessandro Profumo, “Our collective ambitions in space also matter to our own planet and its future.
62 | 2021
Technology Making interplanetary exploration more sustainable
creation of a sustainable “Moon village”. Robotic
by using lunar resources is one aim. But there is a
arms and drills will help build structures, dig and
second goal: to improve our quality of life on Earth”.
extract resources from underground.
He also added that, “Space could, in fact, offer fundamental resources that will be scarce or costly to Earth’s environment. “Think about rare-Earth elements for electronic devices, for example – added Profumo –. There are also opportunities to advance science and technology in areas like power generation, energy storage, recycling, and advanced robotics.”
having already developed the drills for the Rosetta missions, ExoMars 2022, and now PROSPECT, for the Luna27 mission, and designing robotic arms for the Mars Sample Return programme. Finally, Telespazio (Leonardo 67%, Thales 33%) has been recently selected by ESA for the study of an infrastructure for telecommunications and lunar navigation.
Further the firm also added few more pointers regarding the Lunar space economy stating that, the exploration, mining and recovering technologies, potential solutions for a living habitat on the Moon are few of the themes covered at the event by agencies and institutions, academia, industries and astronauts, who discussed how to create synergies to make the equation 2+2=5 work.
artificial
intelligence,
Other speakers at the Leonardo event included: Bill Nelson, Administrator at NASA; Josef Aschbacher, Director General of ESA; Giorgio Saccoccia, President of ASI; Hazza Al Mansouri, the first Emirati astronaut on board the International Space Station, who spoke in a panel together with Italian astronaut Luca Parmitano; Sara Al Maeeni, Project scientist and communication engineer of the Emirates Lunar
As per the firm sources, for the great lunar adventure, infrastructure,
Leonardo holds a leadership role in space robotics,
robotics,
connectivity, services and operations are needed, all skills that Leonardo Group can make available.
Mission; Paolo Glisenti, General Commissioner’s office of Italy for Expo 2020 Dubai; researchers from MIT, INAF and Colorado School of Mining; professionals from mining companies.
Leonardo’s joint venture Thales Alenia Space (Thales 67%, Leonardo 33%) is contributively to the construction of the Lunar Gateway of the NASA
Press Release Received on Mail
Artemis mission and is building critical systems of Orion, the spacecraft for astronauts. As per the firm statement, its robotic systems, equipped with advanced algorithms and artificial intelligence, will provide great support for the
63 | 2021
2021 Award Winners
AWARDS WINNERS 2020 Country
Name of the Company
Category
Africa
AfricaDev Consulting
Best Financial Consultancy Africa 2021
Africa
African Elite Group
Leading PR Agency in Africa 2021
Africa
Africa50 Infrastructure Fund
Best Infrastructure Investment company Africa 2021
Africa
SuperForex
Best ECN Forex Broker Africa 2021
Africa
Infracredit
Most Innovative Infrastructure Finance Company Africa 2021
Africa
CITITRUST Holdings PLC
Excellence in Financial Services Africa 2021
Africa
CITITRUST Holdings PLC
Leading Investment Holdings Company in Africa 2021
Africa
Nedbank Africa Regions (NAR)
Best Mobile Banking Africa 2021 (Technology Division)
Africa
Nedbank Africa Regions (NAR)
Best Internet Banking Africa 2021 (Technology Division)
Africa
Nedbank
Best Internet Banking Africa 2021 (Banking Division)
Africa
Youssef Fassi Fihri(CEO – SCR Société Centrale de Réassurance)
Best Reinsurance CEO Africa 2021
Africa
SCR Société Centrale de Réassurance
Best Reinsurance in Africa 2021
Botswana
Botswana Stock Exchange
Best Economic Impact Securities Exchange Botswana 2021
Cameroon
Zenithe Insurance
Best Online Insurance Provider Cameroon 2021
Cote d’Ivoire
Ora Bank
Best Commercial Bank Cote d’Ivoire 2021
Ghana
Zenith Bank
Best Corporate Bank Ghana 2021
Ghana
ZeePay
Fastest Growing FinTech Company Ghana 2021
Ghana
CalBank PLC
Best Banking Solutions Provider Ghana 2021
Ghana
CalBank PLC
Most Innovative Mobile Banking App Ghana 2021
Ghana
Zaina Lodge
Most Eco-Friendly Safari Lodge in West Africa 2021
Kenya
Centum Investment Company Plc
Best Investment Management Company Kenya 2021
Kenya
CIC Insurance Group
Best Asset Management Company Kenya 2021
Kenya
CIC Insurance Group
Best Life Insurance Company Kenya 2021
Kenya
CIC Insurance Group
Best General Insurance Company Kenya 2021
Kenya
Credit Bank Plc
Best Internet Banking Bank Kenya 2021
Kenya
Credit Bank Plc
Best Mobile Banking Kenya 2021
Kenya
Credit Bank Plc
Best Digital Bank Kenya 2021
Kenya
Credit Bank Plc
Most Innovative SME Bank Kenya 2021
Kenya
Gulf African Bank
Best Bank In Islamic Banking Kenya 2021
Kenya
Stephen Kabungo (CEO – Ilani Concepts)
Entrepreneur of the Year Kenya 2021
Kenya
Ilani Concepts
Best IT Company Kenya 2021
64 | 2021
2021 Award Winners Country
Name of the Company
Category
Kenya
Kenbright Actuarial & Financial Services Limited
Best Risk and Financial Advisory Solutions Provider Kenya 2021
Kenya
Kenya Women Microfinance Bank
Best Micro Finance Bank Kenya 2021
Kenya
Kenya Women Microfinance Bank
Best Mobile Banking Kenya 2021
Kenya
Upesi Money Transfer
Best Remittance Company of the Year Kenya 2021
Kenya
Kwale International Sugar Company Ltd
Best CSR Company Kenya 2021
Kenya
National Bank of Kenya
Best Bank In Customer Service Kenya 2021
Kenya
National Bank of Kenya
Best Islamic Window Kenya 2021
Kenya
National Bank of Kenya
Most Innovative SME Bank In Kenya 2021
Kenya
Standard Chartered Bank Kenya
Best Consumer Digital Bank Kenya 2021
Kenya
Standard Chartered Bank Kenya
Best Corporate Bank Kenya 2021
Kenya
Standard Chartered Bank Kenya
Best in Corporate Governance Kenya 2021
Kenya
Takaful Insurance of Africa Limited
Most Innovative Takaful Company Kenya 2021
Kenya
Sumayya Hassan (CEO – Takaful Insurance of Africa Limited)
Best Takaful CEO of the Year Kenya 2021
Maldives
Ooredoo
Best 5G Broadband Service Provider Maldives 2021
Mauritius
Bank of Mauritius
Best Regulatory Authority 2021
MWauritius
Bank of Mauritius
Best Central Bank Indian Ocean Region 2021
Mauritius
Benor Capaital Ltd. (TrioMarkets Mauritius)
Best Stocks Provider Mauritius 2021
Mauritius
Benor Capaital Ltd. (TrioMarkets Mauritius)
Most Innovative Trading Technology Mauritius 2021
Mauritius
Benor Capaital Ltd. (TrioMarkets Mauritius)
Best Algorithmic Trading Software for Asset Management Mauritius 2021
Mauritius
MauBank Ltd
Best Mobile Banking Application Mauritius 2021
Mauritius
Mauritius Union Assurance Group
Insurance Company of the Year Mauritius 2021
Mauritius
Sunibel Corporate Services Ltd
Best Financial Services Firm Mauritius 2021
Mauritius
Sunibel Corporate Services Ltd
Best Financial Advisory Firm Mauritius 2021
Mozambique
Moza Bank
Best Regional Bank Mozambique 2021
Namibia
Bank Windhoek Limited
Best Corporate Bank Namibia 2021
Namibia
Ms. Baronice Hans (Managing Director Best Banking CEO Of The Year Namibia 2021 – Bank Windhoek Limited)
Nigeria
DLM Capital Group
Best Development Finance Institution Nigeria 2021
Nigeria
C&I Leasing Plc,
Best Telematics Service Provider Nigeria 2021
Nigeria
FXTM
Most Trusted Broker Nigeria 2021
Nigeria
FXTM
Best Forex Education Provider Nigeria 2021
Nigeria
FXTM
Best Trading Experience Nigeria 2021
Nigeria
Infinity Trust Mortgage Bank Plc
Most Innovative Mortgage Bank Of The Year Nigeria 2021
Nigeria
Korede Adedayo (CEO – FirstTrust Mortgage Bank)
Best Mortgage Bank CEO of the Year Nigeria 2021
Nigeria
AMarkets Ltd
Best Copy-Trading Platform Nigeria 2021
Nigeria
AMarkets Ltd
Best Affiliate Program Nigeria 2021
Nigeria
Anchor Insurance
Fastest Rising Insurance Company Nigeria 2021
Nigeria
AIICO Insurance Plc
Best Auto Insurance Nigeria 2021 65 | 2021
2021 Award Winners Country
Name of the Company
Category
Nigeria
Babatunde Fajemirokun (CEO – AIICO Insurance Plc)
Insurance CEO of the Year Nigeria 2021
Nigeria
Cooperative Mortgage Bank
Fastest Growing Mortgage Bank Nigeria 2021
Nigeria
FBNQuest
Best Investment Banking Company Nigeria 2021
Nigeria
FBNQuest
Best Asset Management Company Nigeria 2021
Nigeria
First Bank Nigeria
Best CSR Bank Nigeria 2021
Nigeria
First Bank Nigeria
Best Internet Banking Nigeria 2021
Nigeria
First Ally Capital
Fastest Growing Financial Services Firm Nigeria 2021
Nigeria
First Registrars and Investor Services Limited
Leading Capital Market Registrars Company Nigeria 2021
Nigeria
Heirs Insurance
Best Digital General Insurance Company Nigeria 2021
Nigeria
Heirs Life
Best Digital Life Insurance Company Nigeria 2021
Nigeria
Heirs Insurance
Most Recommended Insurance Company Nigeria 2021
Nigeria
Identitypass
Most Innovative Verification Company Nigeria 2021
Nigeria
Nem Insurance PLC
Best Marine Insurance Provider Nigeria 2021
Nigeria
Nem Insurance PLC
Best Motor Insurance Provider Nigeria 2021
Nigeria
Stanbic IBTC Bank
Most Innovative Mobile Banking App Nigeria 2021
Nigeria
Stanbic IBTC Pension Managers
Best Pension Fund Administrator in Nigeria 2021
Nigeria
Stanbic IBTC
Leading Custodial House in Nigeria 2021
Nigeria
WEMA Bank
Best Commercial Bank Nigeria 2021
Nigeria
WEMA Bank
Best Digital Bank Nigeria 2021
Nigeria
Rosabon Financial Services
Best Non-Banking Financial Institution Nigeria 2021
Rwanda
Ms. Christine Baingana (CEO – Urwego Bank)
Banking CEO of the Year Rwanda 2021
Somalia
RA International FZCO
Best Integrated Facilities Management Company Somalia 2021
South Africa
A2X Markets
Fastest Growing Stock Exchange South Africa 2021
South Africa
CAPEX.com
Best New Trading Platform for Cryptocurrency South Africa 2021
South Africa
Globex360
Fastest Global Expanding Broker South Africa 2021
South Africa
Globex360
Best Customer Service South Africa 2021
South Africa
Globex360
Most Innovative Broker South Africa 2021
South Africa
Forex Masters
Best Forex Training Company South Africa 2021
South Africa
McD Squared (Pty) Ltd
Best PR and Communications Agency South Africa 2021
South Africa
McD Squared (Pty) Ltd
Best Telecommunication Marketing Agency South Africa 2021
South Africa
Mastercard
Most Innovative Payment Solutions Provider South Africa 2021
South Africa
Mukuru Africa (PTY) Ltd
Most Innovative Financial Services Provider South Africa 2021
South Africa
Nedbank Retail and Business Bank (RBB)
Best Mobile Banking South Africa 2021 (Banking Division)
South Africa
Nedbank Retail and Business Bank (RBB)
Best Internet Banking South Africa 2021 (Banking Division)
66 | 2021
2021 Award Winners Country
Name of the Company
Category
South Africa
Dietlof Mare (Vumatel)
Telecom CEO of the Year South Africa 2021
South Africa
DDP South Africa
Best Property Valuers South Africa 2021
South Africa
Outsource Hub
Best Financial Outsourcing Company South Africa 2021
South Africa
Simply Financial Services
Best Disruptive Digital Life Company South Africa 2021
South Africa
Vumatel
Best Broadband Provider South Africa 2021
Tanzania
ABSA Bank Tanzania Limited
Most Innovative Digital Bank Tanzania 2021
Tanzania
Guaranty Trust Bank (Tanzania) Ltd
Most Innovative Bank 2021
Tanzania
Guaranty Trust Bank (Tanzania) Ltd
Best Digital Bank Tanzania 2021
Tanzania
The Jubilee Insurance Company Of Tanzania LTD
Best General Insurance Company Tanzania 2021
Tanzania
NMB Bank PLC
Best Retail Bank Tanzania 2021
Tanzania
Tandahimba Community bank PLC
Most Innovative Retail Bank Tanzania 2021
Zimbabwe
BancABC Zimbabwe
Most Innovative Retail Bank Zimbabwe 2021
Zimbabwe
Steward Bank
Most Innovative Banking Technology Implementer Zimbabwe 2021
Zimbabwe
Zimnat Group
Best Financial Services Group Zimbabwe 2021
Zimbabwe
Zimnat Group
Most Innovative Financial Services Company Zimbabwe 2021
East Africa
Tracom Services ltd
Best Digital Payment App East Africa 2021
Globe
Hotforex
Best Client Fund Security Global 2021
Anguilla
National Commercial Bank of Anguilla Best Bank in Financial Literacy Anguilla 2021
Anguilla
National Commercial Bank of Anguilla Best Retail Bank Anguilla 2021
Anguilla
National Commercial Bank of Anguilla Best CSR during Pandemic 2021
Bahamas
BankPro
Best Digital Bank Bahamas 2021
Bahamas
BankPro
Best Mobile Banking Bahamas 2021
Bermuda
Equilibria Capital
Best Multi Strategy Fund Bermuda 2021 – For Fund Advance Global
Brazil
Ana Karina Bortoni Dias (CEO – Banco Banking CEO of the Year Brazil 2021 Bmg)
Brazil
Banco Bmg
Best Mobile Banking App Brazil 2021
Brazil
Minerva Foods
Best ESG Processing Plant Investment Partners Brazil 2021
Canada
Armour Insurance Brokers Ltd
Insurance Broker Of The Year Canada 2021
Canada
Armour Insurance Brokers Ltd
Best Auto Insurance Canada 2021
Chile
Banco Internacional
Best SME Bank Chile 2021
Chile
Mario Chamorro Carrizo (Banco Internacional)
Best Banking CEO Chile 2021
Central America
Caye International Bank
Best International Private Bank Central America 2021
BTG Pactual National Commercial Bank Jamaica National Commercial Bank Jamaica NCB Financial Group Limited
Best Investment Bank in Colombia 2021
Colombia Jamaica Jamaica Jamaica
Best Banking Group Jamaica 2021 Best Commercial Bank Jamaica 2021 Best Financial Services Group Jamaica 2021
67 | 2021
2021 Award Winners Country
Name of the Company
Category
Peru
Pacifico Seguros
Best Insurance Company Peru 2021
St. Vincent & the Grenadines
Prime Point LLC
Most Innovative Affiliate Program St. Vincent & the Grenadines 2021
St. Vincent & the Grenadines
Prime Point LLC
Best New CFD Broker St. Vincent & the Grenadines 2021
St. Vincent & the Grenadines
Prime Point LLC
Fastest Growing CFD Broker St. Vincent & the Grenadines 2021
United States
Ethica Institute of Islamic Finance
Best Islamic Finance Certification Provider US 2021
United States
Global Touch
Best Go-to Market Transformation Consulting Firm US 2021
United States
Global Touch
Most Reliable Strategic Planning Services Provider USA 2021
United States
Global Touch
Most Innovative Partner Success Application USA 2021 (The Global Touch-Partner Profitability Calculator)
United States
Global Touch
Best Leadership and Brainstorming Services Provider USA 2021
United States
Ms. Denise Sangster (CEO – Global Touch)
Best FinTech CEO of The Year USA 2021
United States
GrowthChannel AI solution
Fastest Growing MarTech Startup USA 2021
USA
Maidan Holding
Best International Holding USA 2021
USA
Nucleus195
Best Global Investment Research Marketplace USA 2021
USA
Ran Aroussi (CEO – Tradologics)
Best New CEO of the year in the Fintech sector USA 2021
USA
Tradologics
Best New Trading Operations platform USA 2021
Afghanistan
Ghazanfar Bank
Best Commercial Bank Afghanistan 2021
Asia
Forex4You
Best Trading Conditions Asia 2021
Asia
DeeMoney
Most Innovative Payment Platform APAC 2021
Asia
Mr. Khairul Hazmin (COO – Xero Capital Markets Ltd)
Best Forex COO of the Year 2021 Asia
Asia
Mr. Khairul Hazmin (COO – Xero Capital Markets Ltd)
Best COO of Financial Industry in Asia 2021
Asia
Justforex
Best Forex Trading Platform Asia 2021
Asia Pacific
Anzo Capital
Best Forex Client Support Asia Pacific 2021
Asia Pacific
Anzo Capital
Best MT4 Forex Broker Asia Pacific 2021
Asia Pacific
CXM Direct LLC
Best Broker for EA Trading Asia Pacific 2021
Asia Pacific
Fullerton Markets
Best Forex Broker Asia Pacific 2021
Asia Pacific
Fullerton Markets
Best Copy-Trading Platform Asia Pacific 2021
Asia Pacific
Pacific Risk Advisor
Best ESG Risk Advisory Firm APAC 2021
Australia
AIA
Leading Life Insurance Provider Australia 2021
68 | 2021
69 | 2021
70 | 2021
71 | 2021