Victor Buck Services - 20 Years of Experience in Outsourcing Services: A Strong and Flexible Global Partner for the Financial, Healthcare, Insurance and Telco Industries

[caption id="attachment_18613" align="alignright" width="300"] Victor Buck Services CEO: Edith Magyarics[/caption]

Since its foundation, Luxembourg-based Victor Buck Services has been providing solutions that allow customers to simplify their communication channels.

The company provides scalable and flexible solutions including outsourced printing, mailing, archiving and scanning. For the past 20 years, it has gained recognition as a strong outsourcing partner, asserting its values and demonstrating its ability to meet customers’ current and future needs.

Victor Buck Services, a subsidiary of POST Luxembourg Group, has changed considerably since it was founded in 2000. The company now employs 220 people, and the services in its portfolio have evolved and diversiﬁed over the years.

The company has three main areas of expertise in the outsourcing field: Customer Communication Management, to cover a complete value chain of information/data exchange between various entities, companies and their customers; Content Services for managing the entire lifecycle of information, from initial publication to storage and legal archiving; and Document Outsourcing Services, including digital mail rooms enabling companies to free-up internal resources and focus on their core business.

Victor Buck Services Certifications and Expertise

Victor Buck Services holds ISO 27001 certification and PSF accreditation (Professionnels du Secteur Financier). This is the Luxembourg scheme that ensures secure and confidential data processing in the financial sector, subject to the same regulator supervision and scrutiny as banks.

Its customers include large corporations and companies in the financial sector. Its clients are mainly investment funds, public utilities, telecommunications providers, insurance companies, healthcare providers and other major organisations from public and private sectors.

Expertise, Innovation & Sustainability

Victor Buck Services offers its customers a complete value chain solution designed to optimise the management of data over multiple communication channels.

“We offer security, and control the dissemination and accessibility of data,” explains Arnaud Wulgaert, the firm’s COO. “We strive to create long-term value for our customers by constantly improving our understanding of their business environment — and their strengths.”

It is also an innovator in the field of electronics, and has developed cutting-edge technology that enables the printing of circuits boasting RFID or NFC chips on recyclable paper. Based on recyclable substrates and produced using a low-waste process, this made-in-Luxembourg, environmentally friendly technology is very much part of the company’s CSR initiative.

The company’s operations are directed from its head office in Luxembourg and its Singapore subsidiary. It also works with service providers in Australia, Hong Kong and the United Kingdom. The existing model allows it to leverage expertise in digital distribution across the globe, and partner with local entities for physical delivery.

Anticipation of Future Needs

In an ever-changing and challenging world, Victor Buck Services relies on its agility and integrity to satisfy its customers and continue its expansion. “Our aim is to pre-empt our partners’ requests and anticipate their future needs,” explains CEO Edith Magyarics, “so we can offer them the best possible service quality in very short timescales.”

Thanks to the company’s use of top-shelf technology and its exceptional governance, depth of expertise and 24/7 service, Victor Buck Services is confident that its customers enjoy consistently high standards of quality and security — wherever they are in the world.

[caption id="attachment_18614" align="aligncenter" width="1000"] Victor Buck Services customers cover various segments[/caption]


Kathrein Privatbank: US Election Outcome is a Reason for Fresh Optimism, says Austrian Responsible Investment Specialist

Austrian financial institution Kathrein Privatbank believes that the sustainability mega-trend is still in its infancy, and that more positive performance potential is sequestered there.

[caption id="attachment_18622" align="aligncenter" width="900"] From left: Harald P Holzer Member of the Board Wilhelm Celeda Chairman of the Board Stefan Neubauer Member of the Board[/caption]

There will be on-going support from the European regulatory authorities — and the bank is heartened by the results of the recent US elections. Joe Biden’s success will, it believes, bring more diplomacy, predictability and stability to American domestic and foreign policy.

That is good for trade relations with China and Europe, and should help to contain the “protectionist spiral”. Cross-continental co-operation on health via the World Health Organisation — and sustainability, through the Paris Agreement — also stand to benefit.

A look at the election platform of the US president-elect clearly shows that attention is being paid to the issues of climate change and the phase-out of fossil fuels and electric mobility. Ambitious goals have been set, and there is massive potential for sustainable companies, as implied by the following points:

A far-reaching ban on fracking and methane

Limits on oil and gas production will be introduced

By 2035, all new cars sold should emit zero emissions

By 2050, the entire economy should be carbon-neutral

A 50 percent reduction of the carbon footprint of all buildings

Some $400bn earmarked for clean energy research

Company commitment to publish the financial risks related to the Climate Exposure Finance Statement.

Another reason for optimism, says Kathrein Privatbank, is that sustainable companies are likely to be granted more favourable financing conditions.

Kathrein Privatbank has been focusing on the topic of sustainable investment since 2011. Almost 50 percent of the assets it manages are invested according to sustainable guidelines.

Its range of sustainable funds includes pure equity and bond funds, as well as various mixed funds, certified by external sustainable quality seals such as the Austrian Ecolabel. Kathrein also offers the possibility of customised sustainable asset management. The selection of companies is always based on the evaluation of key company figures and sustainability criteria.

As much as 70 percent of current energy consumption is still produced from fossil fuels, but there will be a switch to emissions-free energy sources such as nuclear, wind, hydro and solar power. The switch to electromobility is expected to triple the demand for sustainable electricity generation.

The topic of sustainable investment is receiving a fresh tailwind in the US — the world's largest economy, with the most profitable companies.

Kathrein Privatbank is constantly developing innovative fund concepts. Since August 2020, a new “North Star” — the Kathrein Sustainable EM Local Currency Bond — has been guiding sustainable funds at Kathrein Privatbank. The concept is to invest in emerging market currencies via bonds issued by multinational development banks to pursue attractive — and responsible — returns.


Check Creditworthiness in Seconds: SCHUMANN Has the Tech to Do It

[caption id="attachment_18625" align="alignright" width="300"] Managing Director: Martina Städtler-Schumann[/caption]

Blocklists, customers with weak creditworthiness, important limit decisions — the economic consequences of the pandemic has made it vital to take a closer look at customers.

This is possible, and easier than ever, thanks to software products from the German company SCHUMANN.

During recent years of steady economic growth, few companies placed such a strong emphasis on reducing risk. This will change dramatically in the current crisis, the firm warns.

The best way of dealing with the expected economic developments are the focus of experts around the world. The managing director of SCHUMANN, Martina Städtler-Schumann, is certain: "We need early-warning systems that inform us automatically when customers or suppliers get into economic difficulties."

Digitalisation in Credit Management

The search for new ways of doing things affects all industries, from insurance, through financial services, to industrial and trading companies. The pandemic can be seen as an accelerator of innovation.

“This means that right now, we need to question our traditional practices and update them, if necessary, with new investments,", Städtler-Schumann believes. Choosing the right technology is decisive for the success of the operative and strategic digital transformation of processes in credit risk-management.

Software Made in Germany

Highly qualified software development and consulting specialists are working on this technology for SCHUMANN, which started in 1997 with just four members of staff. These days, it has more than 160 employees — and continues to grow.

The company from Göttingen plays an important global role in credit and surety. This is where the company's history began. "Our first customers were credit insurance companies with whom other companies can insure themselves against default on payments," says Städtler-Schumann, who holds a doctorate in economics.

The second large customer base is the financial service providers — mostly leasing and factoring companies. Industry and wholesale is the third group, who evaluate the value or the creditworthiness of their own customers using SCHUMANN software.

Minimising Risks

The software delivers an evaluation from which the risk of credit default and recommendations for payment conditions can be determined in seconds. SCHUMANN's customers decide which information should be considered when making the evaluation. There are many interfaces and sources of information from which the data can be evaluated. By combining internal and external data, the software can check the creditworthiness of business partners and monitor them, automatically and online.

Liquidity Simulation

For creditworthiness estimation, balance sheets are often analysed. "But balance sheets from 2019 are currently almost useless if you want to investigate the current situation of business partners to predict your own economic development", says Städtler-Schumann. The company has a solution for this: automated simulation of business development on the basis of target figures.

She explains: "If a customer, for example, introduces short-time working for his employees or takes out a large loan, this information can be recorded. Our software then automatically provides a new rating. This enables various scenarios for the development of the company to be simulated."

The automated evaluation of these scenarios makes balance sheets from 2019 usable once more. It is then possible to predict whether suppliers can reliably deliver, and whether customers can pay their invoices for 2020 and 2021.


Scaling Europe’s Top-Performing Tech Companies: A Challenge and a Mission that 3VC Accepts

3VC is a Vienna-based venture capital fund that invests in a hand-picked group of European technology startups with global ambition.

From seed to growth, 3VC’s entrepreneurial team provides tireless support and access to an international co-investment network of VC partners. 3VC’s portfolio includes category leaders such as Assaia, Authenteq, Kaia Health, Lokalise, PicsArt, and Storyblok.

[caption id="attachment_18630" align="aligncenter" width="1000"] 3VC Team[/caption]

European start-ups have trouble raising smart money from investors who have the bandwidth and connections to help them grow globally.

There is a massive deficit of venture capital in Europe, particularly in the GSA and CEE region. An increasing number of European scale-up companies is growing towards global market leadership, fueled mostly by American VCs. Also, there are strong macro-economic benefits for European founders. These include access to the best talent at lower operating costs, meaning investments last longer and create more impact.

“Talent is not enough, it’s about exercise and guidance,” says co-founder and general partner Peter Lasinger. “That’s why Roman and I created 3VC: a venture catalyst that unites the best entrepreneurs, resources and supporters in a mission to help create sustainable organisations that drive humanity forward.”

This is why Roman Scharf and Peter Lasinger founded 3VC in 2017, launching with a three-person team and a first fund of $50m and bringing Valley-style venture capital to the region. It invests in European tech start-ups with global ambition — at any stage of their journey (Series A and beyond).

3VC Building Bridges

3VC works with an extensive network of trusted local partners throughout the GSA and CEE regions. It joins or leads investment syndicates with top international investors such as Sequoia Capital, Index Ventures or Floodgate. Scoring an investment from this “glocal” syndicate, European companies are on the global success track. 3VC supports the teams with daily hands-on advice, the US co-investors contribute proven playbooks and a blitz-scaling attitude, and portfolio companies can attract and retain top talent as sought-after employers.

“European founders deserve courageous investors with a more hands-on approach and the ability — as well as intention — to stand by them, to listen, to motivate and to help out,” says Roman Scharf, co-founder and general partner. “We don’t know all the answers, but we know the people who do. We want founders to feel they are not alone. We are here, and through our team, our partners and our allies, we have many ways to make a difference.”

Focus on Quality, Not Quantity

The 3VC team is highly selective in its approach to partnerships, and always optimises for quality instead of quantity. Over the past three years, the fund has invested in just a handful of companies, averaging three to four investments per year. This approach allows 3VC to work closely with founder and executive teams, and be there when help is needed.

“Talent is not enough, it’s about exercise and guidance,” says co-founder and general partner Peter Lasinger. “That’s why Roman and I created 3VC: a venture catalyst that unites the best entrepreneurs, resources and supporters in a mission to help create sustainable organisations that drive humanity forward.”

Entrepreneurial and Diverse 3VC Team

Based in the historical East-West-hub of Vienna, 3VC has an entrepreneurial team of driven individuals partnering-up with GSA and CEE tech companies. The region is home to world-class engineering talent. 3VC works closely with a selected team of venture partners: entrepreneurs and leaders, complementing the core team and supporting 3VC’s portfolio founders with knowledge, experience and a valuable network.

A Portfolio of Category Leaders

3VC’s approach to selecting portfolio companies is clear-cut: precise investment criteria in combination with a strong selection process that includes joint due-diligence with top VCs and fund arithmetics to optimise ROI.

3VC is driven by its belief in entrepreneurs with big ideas, and its determination to drive humanity forward — a vision shared by its three stakeholder groups of entrepreneurs, fund investors and partner VCs. It is reflected in a portfolio that includes AI-enabled solutions for airports by Assaia, automated ID verification by Authenteq, Digital Therapeutics by Kaia Health, the leading localisation platform Lokalise, the creative photo and video editing platform PicsArt, and the headless CMS by Storyblok.

3VC supports its portfolio companies along the way — all the way — to grow beyond Europe and go global. Two of its portfolio companies, DeepCode and Gamee, have already been acquired by industry leaders.

Going forward, 3VC will continue to stand out in the European venture capital ecosystem with its strong entrepreneurial DNA, its high-conviction investment strategy, and an emphasis on focus on quality, not quantity, with a diverse team acting as one.

Peter Lasinger

Peter Lasinger co-founded 3VC (formerly capital300) with Roman Scharf in 2017, raising $50m for the new venture fund.

Prior to that, he helped establish and manage Austria’s most active seed fund with $80m under management. Peter has been responsible for several successful transactions and exits. Before going into venture capital, Lasinger was a manager at Accenture’s IT strategy and M&A practice, advising international corporations on strategic technology decisions, governance and sourcing strategies, and supporting large M&A transactions.

He has worked for Lufthansa in New York City, establishing online sales, and started a SaaS company during his studies. Peter Lasinger holds a PhD in Business Administration and Information Technology (summa cum laude) from the Vienna University of Business and Economics (WU Wien). He also holds an MSc in Business Administration and Information Technology from the University of Linz (Austria) and the Richard Ivey School of Business (University of Western Ontario, Canada).

Lasinger speaks German, English, and basic French.

He has established two venture capital funds with a total of more than $130m under management and led 30+ transactions with international co-investors, including four exits.

He holds board and supervisory board positions in several technology companies.

Roman Scharf

Roman Scharf co-founded capital300 with Peter Lasinger in 2017. He is a serial entrepreneur and business “angel”. He is the founder and CEO of Talenthouse Inc, a leading global marketplace connecting brands and creatives (currently valued at $100m and having raised $30m so far).

Prior to that, he was co-founder, executive director and president of Jajah Inc, a Voice-over-IP company that raised $32m from investors like Sequoia, Intel Ventures and Deutsche Telekom and was sold to Telefonica for $207.6m.

Scharf was a partner at Ecotech Software, which was sold to Rockwool International AS. He has worked as a consultant for an Austrian environmental management consultancy and the European Commission. He holds a MSc in business administration from the Vienna University of Business and Economics.

The German native speaks fluent English and Russian.


Svenska Cellulosa Aktiebolaget SCA: Growing Forests and Renewable Products to Fight Climate Change

With 2.6 million hectares of forest in northern Sweden and 50,000 in Estonia and Latvia, SCA is Europe’s largest private forest owner.

[caption id="attachment_18634" align="aligncenter" width="1000"] Sustainable forest management is the core of SCA’s operations. In the Bogrundet forest nursery north of Sundsvall, it produces more than 100 million new trees per annum.[/caption]

SCA, whose head office is located in Sundsvall, was founded in 1929 from the merging of a number of older forest-product companies in northern Sweden, some of them with a history stretching back to the 17th Century.

Forests are the core of SCA, and around this unique resource it has built a well-invested industrial value chain with the aim to create the highest possible value.
Located close to the forest are five large and competitive sawmills — the world’s largest production line for softwood kraft pulp — and two kraftliner mills. Kraft pulp is dark cellulose material commonly used in paper manufacture.

Residue streams are used for energy production, in SCA’s own mills and for external customers. Since the company’s forest land features plenty of good windpower sites, SCA is developing that renewable technology with partners.

SCA is involved in all links of the value chain, including the transport of raw material and forest products. “We’re always trying to fine-tune our industrial ecosystem,” says communications officer Björn Lyngfelt, “enhancing the combined value it can bring in, and from, the forest.

“We have recently finished and brought into operation a €700m investment in expanding our kraft pulp mill. And right now we are investing another €700m in increasing our production of kraftliner, paper for corrugated packaging. We’re also investing in forest land in the Baltics and are researching liquid biofuels based on forest and forest industry residues.”

Sequestering Carbon Dioxide

Climate change is a focal point in national and European policies. The new European Commission has put up its Green Deal, where combatting climate change is a key focus, and at the top of the agenda. And forests are vitally important to the climate change debate.

Some want to claim forests for carbon sinks, while others want to bring out the substitution potential from the forest value chain. Renewable raw material from well-managed forests can be substituted for products with a higher carbon footprint, keeping fossil carbon in the ground. The outcome of this debate will have a major impact on European forests and forest owners.

Growing forests sequester carbon dioxide from the atmosphere. The difference between forest growth and harvesting and natural losses brings a net reduction of carbon dioxide. Harvested timber is used for products and materials that can replace concrete, steel, plastic packaging and even fossil fuels. In this way, fossil carbon remains in the ground.

Forestry, production and transport still lead to some carbon dioxide emissions, and SCA strives to keep these to a minimum.

[caption id="attachment_18635" align="aligncenter" width="1000"] In the Obbola paper mill outside of the city of Umeå, SCA is investing €700m to increase the production of kraftliner paper for packaging from 450,000 to 725,000 tonnes per annum.[/caption]

Positive Climate Effect

SCA has developed a model for calculating the climate effects of company’s operations. This model has been adopted by other companies, countries and stakeholders, and comprises all the elements mentioned above.

The net sequestration in the SCA forests amounted to 5.4m tonnes of carbon dioxide in 2019. The substitution effect amounts to six million tonnes of carbon dioxide — and the emissions from SCA’s entire value chain amounts to 0.9m tonnes. These figures — the sum of the first two minus the third — provide a record of SCA’s climate benefit: the figure is positive. For 2019, this benefit was 10.5m tonnes of carbon dioxide — corresponding to the emissions from all passenger cars in Sweden.

“We believe that working with the full forest value chain brings both the best value-creation over the long term, and the best contribution to society in the form of renewable raw materials and products and in combatting climate change,” says Lyngfelt.

SCA has 4,000 employees and its turnover for 2019 stood at SEK19.6bn (€1.92bn).

For more information, please visit www.sca.com


Crédit Mutuel Asset Management: Clients’ Trust is Our Finest Reward

With more than 30 years of expertise in asset management and a complete range of funds combining simplicity with transparency, Crédit Mutuel Asset Management has evolved to take up a sector-leading position.

Its funds are primarily based on finding a balance beween the unending search for performance and comprehensive risk management.

Crédit Mutuel boasts all the advantages of a “human-scale” structure despite its impressive team of 250 professionals dedicated to asset management. The firm remains agile enough to combine flexibility and responsiveness and build lasting partnerships.

"Crédit Mutuel Asset Management’s operations are based on fundamental analysis, framed by a structured process. Risks are calibrated to promote performance readability."

Its transformation goal was to become fully responsible and provide sustainable finance based on socially responsible investing (SRI) and ESG principles. For more than 15 years, Crédit Mutuel Asset Management has been a committed player in sustainability, with technical skills adapted to its evolution. Attention is paid to risk monitoring, regulatory, financial and operational controls, and its information systems feature cutting-edge technological tools, frequently updated standards, and performance attribution.

The firm offers service valuation, administrative and the legal management of funds on behalf of external management companies. Its wide range of dedicated, multi-company FCPE funds is based on consistency and expertise.

An allocation committee defines the monthly portfolio allocation according to a top-down approach (based on economic analyses) and is enriched by the market experience — and the bottom-up knowledge of the various asset classes. The committee decides on diversifications (management, thematic, commodities, credit), increases or decreases in the respective classes. It is comprised of the heads of management divisions and experts from Crédit Mutuel Asset Management.

Weekly rate-management meetings are held to define the main areas of portfolio exposure and drive management dynamics. This provides a detailed review of the markets — interest rates, currencies and credit — carried out jointly by managers and credit analysts. Internal ratings are applied with a rigorous monitoring protocol.

Crédit Mutuel Asset Management’s operations are based on fundamental analysis, framed by a structured process. Risks are calibrated to promote performance readability.

When it comes to equity management, Crédit Mutuel has the quality of stock-picking at its heart, divided into geographical areas, capitalisation sizes, and themes. The criteria for selection of securities is based on regular contact between its managers and the directors of large companies. Factors under consideration are quality of the company, valuation adapted according to the sector, and evolution of the company.

The Multigestion Alliance of strategies optimises the risk/return ratio for clients, with recognized expertise in diversified management and fund assembly. There is a rigorous quantitative and qualitative process for selecting internal and external funds.

Profiled management is based on decisions made by the allocation committee. Based on benchmarks, the team selects funds in different asset classes. Multi-strategy management (based on absolute performance) combines different strategies for risk diversification.

Structured management is optimised via mathematical models. Hedged or unhedged index funds are evaluated in relation to the underlying currency of the country of the index. Cushion funds are managed using portfolio insurance techniques, offering capital protection for investors.


Hydropower and its Prospects

Alternative energy sources, and hydro in particular: CFI.co interviews Wolfgang Kröpfl, CEO of enso GmbH, Gilbert Frizberg, CEO of eHydro500 GmbH, and Günther Rabensteiner, CTO of eHydro500 GmbH.

Mr Kröpfl, how has hydropower developed as an asset class for investors?
Wolfgang Kröpfl: The years after the financial crisis, and especially in the phases of the "Energiewende", were characterised by low electricity prices. Due to the highly subsidised energy transition, massive capacity was fed into the European market at zero cost. Since the old subsidy regime expired, the markets have been showing a price recovery for some time. That has collapsed again in the short-term due to the Covid-19 pandemic.

The electricity futures point to a clear recovery. Hydropower is economically competitive without subsidies, and with a lifespan of over 80 to 100 years, it is a stable and sustainable — a real asset.

The development and the prospects have induced enso GmbH, with partners, to found eHydro500 GmbH, which acts as the exclusive investment advisor to the NIXDORF Climate Endowment Hydropower Fund, which was set up in Luxembourg. With this impact investment, investors are offered an evergreen fund for long-term investments in this asset class.

What role does hydropower play?
Gilbert Frizberg: Hydropower contributes 16.4% of global electricity production, and is therefore a mainstay. With a share of 62%, it is the undisputed number one among renewable electricity sources. The marginal costs of hydropower plants are almost zero; that, combined with a life cycle of over 80 to 100 years, makes investing in hydropower attractive. Hydropower has the lowest electricity production costs (LCOE) among renewable energy sources and, along with water storage, also offers the cheapest option for energy storage. Hydropower also has by far the highest efficiency of all power sources.

What do the Paris Agreement and the European Green Deal mean for hydropower?
WK: The Paris Agreement’s goal of keeping global warming below 2°C is an essential step towards securing the future. We are directly confronted with long-term changes in environmental conditions, and we notice them in our records of relevant parameters. The steps that are taken with a Green Deal are imperative. In this context, hydropower — as the oldest and most established renewable electricity source — plays a significant role in the transformation of electricity production. After the fossil and nuclear power plants have been shut down, a replacement is needed to offer a stable supply even in "dark times" (no wind and no sun).

What does this mean for the future energy landscape?
GF: The World Energy Outlook 2019 of the IEA (International Energy Agency) predicts that by 2040 electricity will have overtaken fossil fuels in importance. This means an increase to some 160% by 2040. This is driven on the one hand by the need for replacement capacity from previously fossil-fuel power plants, and on the other by the increasing consumption of increasing electrification (e-mobility, automation and technological change such as IoT and 5G).

IRENA studies from 2020 show that in order to achieve the 2050 goals of decarbonisation, hydropower with an additional capacity increase of 850 GW worldwide is necessary.

What are the technological advantages of hydropower?
Günther Rabensteiner: Hydropower is technology that is economically capable of supplying a base load and, in connection with water storage, can react flexibly to requirements. Water storage is by far the cheapest form of energy storage in the long run.

The good predictability and relative steadiness of the water flow make hydropower a renewable source of electricity that can be easily planned. The production profiles of solar and wind have a low statistical correlation with hydropower, which means that the technologies complement each other.

Hydropower is black-start capable, which means that even in a blackout scenario, it can be used to restart the electricity grid.

Who invests in hydropower?
GF: Hydropower is a suitable asset class for long-term investors because of its lengevity. Past and current crises have clearly shown that hydropower is part of the infrastructure that is relevant to the system. The aim of the fund is to offer institutional and professional investors a stable long-term investment. Hydropower does not lose value over its service life and has a constant production profile that does not decrease in efficiency. From the current perspective, the product electricity cannot be substituted and can be sold and traded internationally via the networked markets, regardless of location.

What are you aiming for with your new Climate Endowment Hydropower Fund initiative?
WK: The fund strives for an initial target of €500m in AUM. The structure as an evergreen fund leaves room for future expansion. It is important that we achieve a dual goal with the investments: a positive impact and climate sustainability as well as a sustainable stable financial return for investors.

What are the criteria for the investments?
GR: In addition to economic factors, complexity and sustainability in the social and environmental context must be considered.

We base our actions on the UN-ESG goals. We focus on investments in hydropower plants up to 50 MW. With a balanced mix of plants in operation that need upgrading and refurbishment (brownfields) and hydropower plants yet to be built (greenfields), we create cash flows and additional production from the start.

In the first phase of the fund, investments will focus on the target region of Europe. A balanced diversification of northern, southern and eastern Europe ensures the balance of the hydrological and macro-economic situation. Seasonal and annual fluctuations in the total production of the portfolio can be balanced out. Regions outside of Europe such as Asia can later be added.

We focus on power plants where we, as asset managers, can bring additional value. This happens through our experience in evaluating potentials in the course of the acquisition process, and through our optimisation know-how in refurbishment.

What are the challenges?
WK: The main challenges are to be seen in the uniqueness of each hydropower investment, as well as our claim to optimal implementation in the overall context of our impact goals. This includes technical and social, environmental and economic competence.

In addition to the experience from the operation of 35 hydropower plants that are currently under our management, we rely on innovative solutions in order to be optimally prepared for the challenges of future paradigm shifts in the industry. Storage and the use of complementary technologies at existing locations are just two examples.

With Günther Rabensteiner, long-time technical director of the Austrian Verbund AG (second-largest hydropower operator in Europe) and Gilbert Frizberg, long-time chairman of the supervisory board of the Austrian Verbund AG, we have been able to gain market access and transaction competence on an international level, as well as enormous energy market know-how.

Clean Power

eHydro500 GmbH, a subsidiary of fund manager enso GmbH, offers investment opportunities into the most efficient renewable energy: hydropower.

Climate change is an undeniable fact, and the protective measures taken by the EU with the Green Deal are inevitable. Efforts towards significant CO2 reduction must be improved to keep track on the 2° global warming target.

The use of fossil fuels must be drastically reduced. In addition to increasing energy efficiency, this can only be achieved through increasing electrification and replacement of fossil power plants by power plants with renewable energies are implemented.

Hydropower has a significant role to play in this future, as it is predictable, controllable and can store energy by water storage volumes.

Recently published studies show that significant increase in hydropower capacities will be required to build up a sustainable mix of renewable power sources for a stable supply of clean electricity. In this context, the International Renewable Energy Agency (IRENA) predicts an additional demand of 850 GW in installed hydropower capacity including pump storage hydropower plants over coming decades — an average annual growth of two percent.

The future is without any doubt electric and hydropower is a vital pillar in the future of electricity supply and in the transition to the 2050 goal for decarbonisation and the limitation of global temperature increases as laid-out in the Paris Agreement of 2015.

Hydropower has a lifetime of up to 100 years

Hydropower creates only 1/100 of emissions per kWh compared to the actual European energy mix.

Hydropower has marginal costs near zero and low LCOEs.

Hydropower can store energy by water storage

This makes hydropower an attractive asset class for long-term investment.

Asset Management

enso GmbH is an established asset manager, with 35 hydropower plants under management in Norway, Austria, Albania and Turkey; enso also provides this service for independent third-party power plant owners. To extend its business lead, enso GmbH founded eHydro500 GmbH with partners outside of the industry.

In October, eHydro500 GmbH and its partner, Climate Endowment Group, launched the green Climate Endowment Hydropower Fund in Luxembourg as an investment opportunity. It pledged to invest €500m in equity into a balanced and sustainable mix of greenfield and brownfield hydropower plants in Europe.

The fund follows dual targets: positive impacts for climate sustainability and stable profitability for investors.

eHydro500 — as exclusive investment advisor to the fund — is dedicated across the organisation to the UN’s SDG goals and follows the strict rules of IFC performance standard (World Bank).

Low-complexity hydropower plants with a capacity of up to 50 MW are in focus. For such plants, the impact on the environment can be kept to a minimum.

With a 60-40 mix of Brownfields (plants already in production) and Greenfields (newly built plants), a balanced risk profile and steady cash flow can be achieved. Production from these upgraded and new plants will provide additional energy to the market and reduce the CO2 footprint in Europe.

The portfolio creates just 1/100 of CO2 emissions per kWh compared to the current energy mix of Europe. DNSH – Do No Significant Harm — tests, plus impact and sustainability indicators, are the basis for all investment decisions.

With the expertise of the management team, hidden potentials can be detected during evaluation, and lifted by refurbishment, upgrade activities or operation optimisation.

Targeting storage capabilities helps to improve the utilisation of available waterflow and regulate production by shifting production from daily to seasonal periods results.

Investment Regions

Hydropower plants generate electricity from the volume of available waterflow and pressure, due to a difference in altitude between water intake and powerhouse. Mountainous regions usually provide ideal conditions, with altitude and plentiful rainfall where warm and moist air currents meet. This determines the target regions of the fund: Scandinavia’s alpine regions, southern and south-eastern Europe.

The geographically diverse asset allocation results in a balanced risk at portfolio level. Even though hydropower is a predictable energy source, the annual water supply differs around Europe. Due to periodic weather phenomena, these fluctuations are not evenly distributed regionally.

Experience

enso GmbH has extensive experience in the investment lifecycle. It managed to combine the professional experience gained at 35 plants under management in four regions with the know-how of European Utilities managers in the offshoot company eHydro500 GmbH. eHydro500 bundles specialist knowledge gathered over three decades as Europe’s second-largest hydropower power producer and utility with 10 years of experience in managing an institutional fund.

Günther Rabensteiner is a former member of the board, CTO and COO at Austrian Verbund AG; Gilbert Frizberg is a 15-year veteran of the supervisory board at Verbund AG. The men share their global network and experience on eHydro500 GmbH’s managing board.

Within the Climate Endowment Group partnership is an interdisciplinary team of capital market experts, taking care of the risk management, ESG-related issues and impact evaluation in the fund´s portfolio management.

Pipeline

The current market environment is an attractive entry point as many smaller asset owners face a liquidity problems due to the combined impact of low electricity prices and the global recession caused by Covid-19.

Historically low electricity prices during Covid-19 in Scandinavia have led to a liquidity crunch among some asset owners. Global GDP contraction due to Covid-19 has worsened the liquidity crisis and provides an opportunity to acquire quality assets that were not previously available.

Market screening activities led to an identified pipeline of possible investment targets of a total installed capacity of about 550 MW in Scandinavia, south and south-eastern Europe. Deal speed has improved recently, and about a third of the pipeline should be available within six months.


FLI Global - The Value is in the Solution: A Firm Protecting the Things that Can Never Be Replaced

FLI Global is an environmental services and technologies business focused on the protection of air, land, and water.

Its experienced team, knowledge base, expertise and focused approach — using Cleantech and Greentech integrated solutions — sets the firm apart as a sustainable solutions partner with its clients.

“Our particular expertise are in Brownfield and Contaminated Land Remediation, Industrial and Municipal Water and Wastewater Treatment, Semi Modular Precast Concrete Infrastructure, Mining Waste Containment and Engineered Landfill Construction,” says CEO and executive chair Michael Flynn.

[caption id="attachment_18645" align="aligncenter" width="900"] Landfill Mining UK: Residential Development on a former and recently remediated landfill site[/caption]

FLI, born in the 1980s, operates from locations in Ireland, UK, France and China; the headquarters is in Waterford, Ireland. It passed through the millennium and all the excitement of that period, lived through a couple of global economic crashes, left the industrial age, grew through the technological age, and now lives happily in the information age. “We have gained extensive experience and witnessed significant changes in our sectors of operation,” says Flynn. “Adaption to change has become a core part of our evolution as a business.” Data Centre communications infrastructure manufactured off site is now part of our core technology offering, whereas data centres did not exist back in the 80’s – and nor did the technology for high quality off site manufacturing of concrete infrastructure.

"We also have to recognise our limitations — we cannot create water, land or air."

The core values and character traits in FLI are grounded in teamwork, experience, knowledge-sharing, open communication, innovation, adaptability, reliability, flexibility, dependability and respect for staff and clients. The firm supports personal and professional development, embraces technology, and plans for the future through talent development and the strengthening of leadership and management structures. Change is a constant that must be embraced.

Society and the natural world are in a long-term relationship of balance and trust, says Flynn: “If one party is dominant then the other is insignificant.” The natural world does not have a voice; it can communicate only through signs. Cracks in the relationship are fuelled by a failure to listen. “In our private lives, or in our business or corporate lives, two-way communication and active listening are key components in the process of reconciliation, finding a resolution, making decisions and moving on. The human race and the natural world are inextricably linked and can find a balance that works if we focus on achieving it.

“Our ability to reflect, see the other parties position, accept that the status quo is not working, have a willingness to change, agree to compromise and adjust our expectations will help contribute to re-establishing balance in our relationship with nature.”

In 2020, there are 7.8 billion people in the world, and this will grow to 9.9 billion by 2050. The natural world has been sending messages of distress for some time now, that are saying it cannot cope and is under severe stress.
“These are messages that we can all understand and interpret: climate change, global warming, melting ice caps, rising sea levels, flooding, food shortages, droughts and disease, more plastics than fish in the sea. Clean air, land and water are finite resources, and we cannot continue to abuse and exploit them and not expect consequences.”

The information data base that we as humans have amassed is constantly being analysed and updated. If viewed as a diagnostic dashboard, it can provide indicators of imbalances and shortfalls — and opportunities. Damage to our environment is being registered and recorded as part of this data collection. “We are well on the way to creating advanced devices and computers driven by algorithms that can do many good things to enhance our lives,” says Flynn. “Globalisation has created demand for consumer goods and has exaggerated the imbalances in our global society, fuelled further by the information age.” This has caused several red light warnings that society is not currently acknowledging.

As stakeholders in society we have responsibilities to each other and to the natural world, he believes. “We also have to recognise our limitations — we cannot create water, land or air. No App can solve this problem. We have to find a balance in the relationship with nature so that we can extend and re-use the resources that nature has provided.”

Population growth will create even greater strains on the natural environment. “The opportunities and potential for continued wealth generation across society are immense,” says Flynn, “but the disparity between human ambition and the limitations of the finite elements of air, land and water must be recognised and addressed so that balance can be restored in our relationship with nature.

“Nature sent us its most recent message in the form of the Covid-19 pandemic. We have all been forced to change the way we live and work. Technology has enabled us to adapt and work from home as part of the social distancing process and to stay connected as families and as businesses. The pandemic has also highlighted our vulnerability to an airborne disease that had the power to bring society as we knew it to a halt, despite our advanced technological confidence and our collective belief that we are unstoppable.”

The ESG investment community has an important role to play in the building-back process and could be instrumental in shaping the model. “The FLI Global business model is built around the core values of ESG, as these are traits in the company DNA” he adds.

“Our sustainable solutions can ensure that the majority of the contaminated soil and water can be cleaned and retained on-site. We avoid the removal of significant quantities of materials to landfill, reducing the carbon impact of transporting materials and helping to ensure that the greenfield land and groundwater can be protected and brownfield land re-used as part of the brownfield first policy in the UK.

“There is a chronic under supply of housing in many countries. The use of brownfield land, promoted over other land uses, allows houses to be constructed on previously developed land. Coupled with the FLI Global off-site residential homes manufacturing capability, it can help reduce the housing shortage in the UK and Ireland and rapidly accelerate delivery.”

[caption id="attachment_18646" align="aligncenter" width="900"] New Caledonia: CCD Tank Farm in a Nickel Mine[/caption]

FLI Global wastewater treatment

FLI is heavily involved in the treatment of wastewater, both municipal and industrial. Zero Liquid discharge (ZLD) ensures that all water is returned for re-use, and the solids that are retained are re-used in other process streams. Recycling and re-using process water has to be part of the big industry response to limited water supplies and can be achieved.

FLI Global engineers focus on technologies that improve the quality of wastewater while minimising the carbon footprint of the equipment used. Value engineering is a critical part of providing sustainable solutions, where existing technology can be repurposed or coupled with new technology to improve operating efficiencies.

Investment in R&D to develop alternative renewable fuels such as hydrogen, biomethane, wind and solar is hugely important for reducing the world’s dependence on fossil fuels into the future. “There should also be an awareness that the technologies are already available for recycling industrial-process water to potable standard,” says Flynn, “and to bring brownfield land back to greenfield value. And to build off- site. Big industry requires vast amounts of water and the technology exists to treat and recover process water so that growth and expansion can be accommodated without drawing further from our water resources.” Creating integrated solutions is value engineering and performance enhancing.

The technology already exists for modular, passive energy homes, rapidly constructed on site with less labour, reducing health and safety risks and accelerating building programs. Continuing investment in off-site construction methods and technologies will be an integral part of the drive to address current and future accommodation needs globally. “Getting drinking water and housing to regions of the world where droughts occur and where our data tells us population growth is going to occur is the collective responsibility of all of us,” he says. A global co-ordinated call to action of all stakeholders is required to solve this challenge.

“The collective and co-ordinated worldwide initiatives to fight the Covid-19 pandemic have been extraordinary – and proof that we can work together for the greater good. To protect and enjoy our environment and maintain the continuing development of mankind we have to work in tandem with the natural world, and not to attempt to conquer it.

“The FLI Global culture and unique selling point is to offer its clients solution focused action and enhanced efficiencies and performance based on its experience and knowhow. The value is in the solution.”

For more information, please visit fli-group.com


Kommunalkredit: The Importance of Sustainable Infrastructure Increasingly Vital During These Challenging Times

[caption id="attachment_18650" align="alignright" width="300"] CEO: Bernd Fislage. Photo: © Petra Spiola[/caption]

In times like these, the importance of sustainable investment in infrastructure is growing.

The demands on infrastructure are constantly changing, from economic and socio-political perspectives. Infrastructure must adapt to these requirements. Public services are in particular focus due to the demand for high-performance digital communication channels for remote working, distance learning and video conferencing. The associated increase in demand for electricity must also be factored-in, and the need for uninterrupted medical care has put the spotlight on the social infrastructure.

Kommunalkredit is proud to be more than a bank. It is a point of contact for the full range of topics related to infrastructure, and as a vehicle for investments in an area of vital importance for society. CEO Bernd Fislage believes this is the time to face up to global social and economic challenges. “If we are to emerge from this crisis stronger than before, we must assume great socio-economic responsibility,” he says. “Not only with regard to the current pandemic and its consequences, but also with a view to the EU Green Deal and the respective national climate plans.

“Europe has the chance to position itself as a leader in green and sustainable projects. Entrepreneurial foresight and decision-making power are needed to drive forward far-reaching, sustainable and innovative investments in infrastructure.

“How should these projects be implemented? In the best case, quickly, cost-effectively, and with a future-orientated approach. Since the financial scope of the public sector is limited, co-operation between the public and private sectors must be intensified. The economic and financial systems have a key role to play.”

Kommunalkredit assists the construction and operation of infrastructure facilities by balancing the financing needs of project sponsors and developers with the investors looking for sustainable investment opportunities. Main investment segments are energy and environment, communication and digitalisation, transport, social infrastructure and natural resources.

Infrastructure as an Asset Class with Kommunalkredit

As an alternative capital investment, infrastructure investments are largely crisis-proof, with stable debt returns, low volatility compared to other asset classes and low default rates.

In the current low-interest environment, classic investments without high volatility provide hardly any returns. The construction, maintenance and modernisation of infrastructure and energy projects in the areas of utilities, telecommunications, transport and social infrastructure are high on the agenda.

This is true for industrialised and developing countries as a result of the current health crisis and its consequences for the real economy. Great attention is being paid to sustainability and ESG/SDG criteria in infrastructure investments. In the long run, it is the only way to sustainably shape the future over generations.

The bank is financing ecological energy supply for five high-rise building projects on the Vienna Danube Canal. An innovative aspect is that water extracted from the canal is used for heating and cooling systems. “It’s a showcase project for smart, sustainable energy solutions”, says Fislage.

[caption id="attachment_18651" align="aligncenter" width="900"] Soravia Austro Control Tower. © 2020 ZOOMVP[/caption]

Local and Global Infrastructure Trends

The bank focuses on sustainable infrastructure projects that support key challenges such as economic growth, strengthening regions, job creation and, above all, climate protection measures. Kommunalkredit is the first financial services provider in Austria to be admitted to the European Clean Hydrogen Alliance established by the EU Commission in 2020.

“We believe in hydrogen as a climate-neutral energy carrier with enormous potential,” says Fislage, “and we place great emphasis on innovation and sustainability. Which is why it was a logical step for us to join the European Clean Hydrogen Alliance, because the economic and financial system is now called upon to promote economic and sustainable projects that contribute to achieving #mission2030 (the Austrian climate and energy strategy), the Green Deal and climate neutrality as well as committing even further to the 17 SDGs set by the United Nations.”

Bernd Fislage has extensive international experience in capital-market, institutional and bank financing of infrastructure, energy and transport projects. His career includes leading roles in regional and global management with Deutsche Bank. He was responsible for Deutsche Bank’s global asset finance and structured finance business (ABS, CRE, illiquid trading) in Germany, Austria and Switzerland.

He has previously worked for NatWest Markets and BHF Bank. Bernd Fislage has been a member of the executive board of Kommunalkredit Austria AG since February 2017, and CEO since September 2018.


Housing Market Vibrant, Franchise System Strong for the UK’s Belvoir Group

The Belvoir Group is the UK’s largest High Street property management franchise, with over 300 offices across the Belvoir, Northwood, Newton Fallowell and Lovelle brands.

The Belvoir Group’s central office is based in Grantham, Lincolnshire, and the company is on-target to record 24 years of unbroken turnover and profit growth, having come out of lockdown in a stronger position than ever.

The property market remains attractive for many buy-to-let landlords and investors, and the resilience of Belvoir’s franchise business model provides opportunities for growth for both parties via existing and new income streams. The continued rollout of financial services across the Belvoir Group is proving to be extremely popular, with franchisees able to grow a business-within-a-business by offering mortgages and associated practices to their clients.

While many independent agencies have not survived the financial ravages of the pandemic, many of Belvoir’s franchisees have been able to grow their businesses by acquiring competing independent businesses looking to exit the market. Some franchisees within the group are now turning over in excess of £1m per annum. Acquisition remains a key growth strategy for the Belvoir Group and in October, the company announced the successful acquisition of its 100th independent agent.

Following the recent publication of Belvoir’s Q3 rental index — and despite relatively flat rental values for the past three years — Belvoir is predicting that rents will increase in 2021. There is continued tenant demand combined with a shortage of properties. Average length of tenancies remains high, with 41 percent of tenants choosing to remain in their home for 19-24 months — and almost a quarter renting for over two years.

“Anyone who is considering entering into property investment would be well advised to contact their local Belvoir office to discuss potential property hotspots in their area,” advises Belvoir CEO, Dorian Gonsalves. “Research from our post-lockdown Q3 rental index reveals significant regional diversity, but investors can benefit from the free property advice of a local expert who will be able to advise on all aspects of their potential investment. This includes best location for investment, anticipated rental yields, tax advice and how to exit the market to the best financial advantage when the time comes.”

Belvoir’s Q3 rental index confirms that houses continue to outperform apartments. Many people came out of lockdown determined to find some outdoor space, often favouring more rural areas with a less dense population.

“We have made the Belvoir rental index freely available on our website. It is an incredibly valuable resource for landlords and investors who can see at a glance what is happening in England, Scotland, Wales and Northern Ireland. Importantly, they can also zone-in on how the rental market is performing in any particular region.”

For more information, visit: belvoir.co.uk/pages/rental-index


From 1919 to 2020, the Varied, Advancing Path of Polifarma Has Kept Pace with Medical Needs

Italian pharmaceutical company Polifarma was founded in Rome in 1919, and is now part of the Final Group, an Italian holding with a strong orientation in the pharmaceutical sector.

Over time, Polifarma has invested in various product sectors, including sanitary, fashion, wine and luxury residences. The company is a valued and reliable partner in the marketing of medicines, offering a range of products for the specific treatment of pathologies in several therapeutic areas: cardiology, CNS, gastroenterology, ophthalmology and otolaryngology.

The first significant growth of the company, in terms of turnover and employment, took place in the 1980s, thanks to the advent of "large molecules" — ranitidine, ramipril — still widely used for the treatment of chronic pathologies in the gastroenterological and cardiovascular areas.

Polifarma has entered into important collaborations with pharmaceutical multinationals for the launch of new molecules that have allowed it to become a leader of specific market segments. Recently, the growth in turnover has been echoed by a progressive growth of the organisation, with new hires of internal employees and REPs.

"Over the past five years, the company has undergone a transformation to meet new needs and requirements arising from the advent of Digital Health."

Between the 1990s and the 2000s — following the acquisition of the company by Luisa Angelini — Polifarma consolidated its development. It experienced a further acceleration in growth through new investments that led to a significant increase of the number of scientific collaborators. The great boost to the organisation, under the leadership of Angelini, has produced a hike in company turnover, from €18m in 1999 to €42m in 2008 — an increase of 133 percent.

In 2008. Polifarma — like many others in the pharmaceutical sector — faced a period of strong contraction due to the patent expiry of the leading product in the cardiovascular area. The crisis was overcome by the development of a new organisational path.

The firm focused on the organisation to respond to the crisis, activating a change management process based on three values: Culture, Responsibility and Participation. It invested in training for employees, involving them at all levels and in all processes. Polifarma also solicited their contribution on strategic issues.

It has also worked to increase employees' sense of responsibility towards the business project to provide reassurance and create a real change of mindset. This came before the development of new processes and business models.

Polifarma has combined the investment of resources to consolidate the product portfolio through partnerships and acquisitions.

Polifarma and Digital Health

Over the past five years, the company has undergone a transformation to meet new needs and requirements arising from the advent of Digital Health. It was among the first pharmaceutical companies to believe in the digital transformation process — generating a new method of scientific communication.

Polifarma implemented an integrated digital ecosystem with high technological and innovative impact that has been exploited for each project and business activity.

To ensure proximity to doctors, the firm has developed pathology and product sites that have become comprehensive reference points for doctors — with the authority and quality of scientific sources, and the possibility of using additional services such as training media tutorials and apps.

Social media accounts were created and a personalised site was dedicated to Polifarma's REPs, the “Customer Portal”. It is an easy way to interact with doctors in a rapid and personal manner. This website is important as it allows the REPs to collect a continuous feedback from doctors.

In 2020, in response to the spread of the pandemic, Polifarma implemented the portal by adding a calling system that allowed the doctor to be supported even remotely. This system has allowed the firm to link with doctors in a complex period with no face-to-face visits at hospitals or private practices. This has strengthened social networks as communication tools.

A new business unit was dedicated to hospitals and private clinics as an additional communications channel with doctors. This boosted the presence of Polifarma in hospitals and clinics, and has allowed us to introduce PneoHsafe (known to the public as Sanispira), a line of advanced technology endo-nasal filters useful as a support in various therapeutic areas (otolaryngology, basic medicine, allergology). PneoHsafe has been launched in Italy and various foreign markets. The line includes Sanispira Viruses and Bacteria, Sanispira Allergy, Sanispira SweetDreams.

Polifarma pledges to continue to develop new projects through digital assets, implementing educational programmes for pharmacists as new players in the healthcare world. Plans include developing e-commerce plans, drive-to-store, social communication and new advanced digital health and therapeutics, as well as AI.

The company is also activating a strategic action towards internationalisation.


Pragmatic Play: The Name Itself Reveals Philosophy of iGaming’s Champion

As one of iGaming’s top providers, Pragmatic Play has transformed from a slot studio in a congested market to an instantly recognisable brand that works with some of the biggest household names within the online casino industry.

With a multi-product offering and a commitment to player protection, Pragmatic Play, led by CEO Julian Jarvis, has carved a proud place in one of the world’s most competitive sectors.

Pragmatic Play expansion

From its early days as a slot supplier, the company portfolio has expanded to include live casino, bingo games and virtual sports. It grew quickly, finding success with landmark games that developed a core fanbase. This expansion was also fuelled by a targeted regulated-markets strategy, which saw Pragmatic Play gain global gaming licences and make a mark in high-growth jurisdictions.

Growing swiftly through regulated markets, and establishing third-party partnerships, the firm has introduced games of varying volatilities. It has partnered with well-known brands, and uses industry-acclaimed mechanics to maintain consistent quality, and reach people of all tastes and demographics.

While becoming the leading slot producer in the industry remains a key goal, Pragmatic Play also focuses on diversification. The addition of popular Live Casino games in 2019 offered operator partners and players a different opportunity. Players can enjoy roulette and blackjack on their devices, rather than physically visiting a casino — and the supplier’s partners have been able to venture into alternative revenue streams.

The same is true for virtual sports and bingo. By expanding beyond its staple business vertical, Pragmatic Play was able to bring innovative products to market. Its partners have benefitted from gaining proven titles through their existing relationship, cutting down on integration times and preserving a strong business link.

Fostering Player Protection

In an industry with differing regulations and a widespread focus on legislation, Pragmatic Play has player protection at its core. When entering new markets, the dedicated compliance team ensures all products hit the highest standard, as underscored by the company’s collection of licences and certifications across the world.

Player protection is a widely discussed topic in the iGaming community as well as wider governmental circles — and something that is recognised as vital to the industry. By enabling players to have secure, safe play-sessions, iGaming remains an enjoyable experience and one that will gain repeat players.

[caption id="attachment_18662" align="aligncenter" width="900"] Pragmatic Play’s Headquarters in Malta[/caption]

Long-Term Partnerships

With so many content options for operators, providers need to stand out. By understanding customer needs, going above and beyond with customer service and paying attention to detail when servicing, Pragmatic Play does just that.

From innovations such as a single API-integration to dedicated account management services, Pragmatic Play’s aim is to turn single vertical partners into long-standing, multi-vertical accounts. The company retains partners at an impressive rate, regardless of geography, while increasing the attractiveness of its growing offering.


Colliers: Ireland’s Slow Recovery Contains Some Real Reasons for Optimism

Ireland’s recovery will be slow, as second-wave Covid restrictions are imposed and government employment support is moderated.

Despite low volumes of transactions and international travel restrictions in 2020, big-ticket sales happening on and off the market give grounds for some optimism. But travel restrictions will continue to impact transaction volumes. This is evident when considering the fact that the volume of capital from overseas buyers was some 70 percent of the total in 2019.

[caption id="attachment_18667" align="aligncenter" width="800"] Figure 1: GDP Forecasts for 2020/2021. Source: Oxford Economics, 20th September 2020.[/caption]

What is encouraging is the continued appetite from buyers to deploy capital in Irish real estate. It is heartening to see new entrants looking at a country that is now an established player in the global capital markets.

Investment spend this year (depending on the outcome of deals currently being transacted) could comfortably exceed €2.5bn in 2020. Impressive, but a dramatic drop from the €7.5bn spent in 2019.

Buyers are seeking core and core-plus opportunities, with a primary focus on Dublin. Many buyers are looking outside Dublin for opportunities as they seek more value.

Offices, logistics and PRS are the main drivers at the moment. However once the retail, food and beverage, and the hospitality sectors are stabilised in 2021, renewed interest is expected in these sectors. They haven’t gone away.

On sub-€10m deals there appears to be a wait-and-see approach from buyers, which is likely to continue in 2021. Hopes for the initial Irish V-shaped recovery are fading, according to the latest purchasing manager indices. The Irish composite PMI fell to 46.9 in September, consistent with economic contraction. The services sector (45.8), especially transport, tourism & leisure, continues to struggle. Manufacturing (50.0) has slowed due to supply chain disruption and reduced exports attributed to Covid and Brexit, but aggravated by renewed weakness in the Eurozone (50.4). The latest “flash” PMI estimate in October shows further Eurozone weakness (49.4).

[caption id="attachment_18668" align="aligncenter" width="800"] Figure 2: Percent of TWSS recipients (Percent of total recipients between 12 March & 31 August, 2020). Source: CSO[/caption]

Irish business, financial, and related professional services, as well as the TMT sectors, are less impacted, but are also shedding jobs as government support is reduced. The TWSS (Temporary Wage Subsidy Scheme) ended in August and was replaced by the EWSS (Employment Wage Subsidy Scheme) targeted at businesses whose turnovers are expected to remain down.

Despite closure of the TWSS, the Live Register fell modestly in September to 211,492. This stability suggests that many of the 300,000 workers supported by the TWSS may be finding support in the EWSS (data not yet available).

The Irish government also announced a €17.8bn budget in mid-October which assumes no UK/EU trade deal and no widely available vaccine in 2021. This includes a €3.4bn recovery fund with measures to prevent further job losses, support businesses forced to shut due to Covid restrictions, further Brexit support, reductions in VAT for hospitality, support for tourism businesses and live entertainment.

The corporate rate of taxation remains unchanged at 12.5 percent, despite ongoing EU pressure for EU-wide corporate tax harmonisation. Additional government support may also be forthcoming should the European Recovery Fund disbursement amounting to €1.5bn in EU grants, along with €90m in loan guarantees over the next few years.

Despite weaknesses in the Irish trajectory, Irish annual GDP is forecast to recover to its 2019 level in 2021, although the most impacted sectors will lag behind.

After a fairly dismal Q2 (The Covid Quarter), investment activity accelerated in Q3, up by 63 percent to €700m, compared with €430m in Q2.

[caption id="attachment_18669" align="aligncenter" width="800"] Figure 3: Quartelry investment spend. Source: Colliers International[/caption]

Despite on-going worries about the economic, viral waves, Brexit, and a tightening of finance, Ireland continues to attract considerable cross-border investment — led by European capital, especially German, which accounted for 75 percent of total Irish investment. Local private investors remain focused on sub-€10m deals — but are hesitating until the economic recovery path becomes clearer. Specialised funds, property companies and institutional investors driven by investment mandates are all actively seeking opportunities in the €20m-plus range.

Demand remains strong across the private rental, office and logistics sectors, with further substantial volumes of capital forecast to be deployed by year end. There are new market entrants, primarily European, which further boost confidence. Ireland remains an important target for global capital.

About the Author

[caption id="attachment_18666" align="aligncenter" width="300"] Author: Michele McGarry[/caption]

Michele McGarry is an acknowledged capital markets expert with extensive experience in the Irish commercial investment market across all sectors: retail, retail parks, shopping centers, office, multi-family and leisure. She represents a variety of international investors (including funds, property companies & private equity clients) and domestic high-net-worth clients on property acquisition and disposals throughout Ireland. She holds a BSc (Hons) in Estate Management Surveying University of Glamorgan. She is a member of Colliers International EMEA Investment Team.

About Colliers

Colliers International is a leading diversified professional services and investment management company that work collaboratively to provide expert advice and maximize the value of property for real estate occupiers, owners and investors.


UAE’s International Human Fraternity Virtual Summit Successfully Concluded

The United Arab Emirates has successfully concluded the International Human Fraternity Virtual Summit (IHFS), an initiative of the UAE Ministry of Tolerance & Coexistence, as it welcomed thousands of participants from every corner of the globe, in commemoration of the very first International Day of Human Fraternity by the United Nations.

The IHFS marked an important milestone in history as it underscored the importance of spreading the work of human fraternity and coexistence in order to achieve unity and cooperation around the world. The virtual summit also shed light on major issues such as battling the challenges of the pandemic, eliminating racism among societies, instilling culture of tolerance & peace, and promoting gender equality and women empowerment.

“Human Fraternity is deeply rooted into the UAE’s culture and heritage, a legacy of our founding Father, Sheikh Zayed, may his Soul Rest in Peace. Celebrating the International Human Fraternity for the first time is a reflection of our commitment to peaceful co-existence, tolerance and universal human fraternity and our future generations are key to this. It is up to us to ensure we instill these values and principles in their every step, and spread these messages through their thoughts and their actions as they lead the growth of our nation,” stated HE Mohamed Khalifa Al Mubarak, Chairman of the Department of Culture and Tourism-Abu Dhabi and a member of the Higher Committee for Human Fraternity.

Through its virtual venue, Events10x, the International Human Fraternity Summit welcomed the participation of high-level dignitaries, international community of intellectuals, government institutions, human rights and philanthropic institutions, religious institutions, as well as private organisations.

The IHFS powered through with the most anticipated Global Leaders Debate that delve into this year’s theme, “Human Fraternity for Working Together to Achieve a Better Future” which provided an in-depth discussion on the increased fragmentation around the world due to extremism and intolerance which plays a destructive role in achieving global happiness and prosperity. The debate brought together international leaders to discuss policies to curb these problems and explored the initiatives that would further boost human fraternity and tolerance.

Moderated by Becky Anderson, the Managing Editor of CNN Abu Dhabi, reputable officials such as H.E. María Fernanda Espinosa, the President of the 73rd Session of the United Nations General Assembly; Corinne Momal-Vanian, the Executive Director of Kofi Annan Foundation and Dr. Chungwon Choue, the President of the World Taekwondo Foundation were present to deliver their intelligent insights.

The Conference session, “How Human Values Help Eliminate Racism Among Societies” examined how human values positively affect societies and how it paves the way to increase morals and integrity and eliminate racism and discrimination. This session was participated by H.E. Afra Mohamed Al Saabri, the General Director of Ministry of Tolerance & Coexistence; Dr. Mariwan Baker, PhD, the Founder and Chairman of Bring Hope Humanitarian Foundation; Suhail Ghazi Algosaibi; the Founder and Chairman of Board of Trustees of Bahrain Foundation for Dialogue, Kingdom of Bahrain; Prof. Azza Karam, the Secretary General of Religions for Peace; and Rev. Prof. Dr Ioan Sauca, the Interim General Secretary of World Council of Churches.

The event also hosted a fireside chat where the leading philanthropist Mo Ibrahim, the Founder and Chair of Mo Ibrahim Foundation in the United Kingdom was interviewed by Hadley Gamble, the CNBC News Anchor of CNBC Middle East. He provided great insights into his journey in doing philanthropic work during the COVID-19 crisis.

The session on “Instilling Culture of Tolerance and Peace” also gathered notable leaders and discussed the role of education in instilling culture of peace and tolerance, as well as the importance of cultural inclusiveness and its essence in the modern world. It was joined by Antonio Zappulla, the Chief Executive Officer of Thomson Reuters Foundation; Ambassador Khalid Fathalrahman, the Director of the Department of Dialogue and Cultural Diversity, Supervisor of the Partnerships and International Cooperation Sector, Islamic World Educational, Scientific and Cultural Organization (ICESCO); Youssef Aroog, the President of Mediterranean Youth Foundation for Development – Egypt; Dr. Eesa Mohammed Bastaki, the President of University of Dubai, United Arab Emirates, and Hani AlZubaidi, the Chief Executive Officer of Make a Wish Foundation, United Arab Emirates.

The Gender Equality and Women Empowerment session explored the efforts that private organizations and governments need to make to bridge the gap. Creating an inclusive environment for women and people of determination within the society were also discussed. It was participated by Elizabeth Vazquez, the CEO and Co-Founder of WEConnect International; H.E. Wedad Ahmed Bu Hamid, the Vice President of Emirates Human Rights Association, UAE; The Hon. Irina Bokova, Member of High Committee on Human Fraternity, President, Academy for Cultural Diplomacy and Former Director-General of United Nation Education, Scientific and Cultural Organization (UNESCO); Simona Scarpaleggia, the Global CEO of EDGE Strategy; Noha Hefny, the Founder & CEO of People of Impact; and Dr. Ayesha Abdulla, the Vice President of Academic Affairs of Higher Colleges of Technology.

Moreover, IHFS also welcomed inspirational leaders, Peter Maurer, the President of the International Committee of the Red Cross and Leymah Gbowee, a peace activist and Nobel Peace Laureate, who both delivered their enthusing speeches about peace and ending violence that moved the global audience.

Furthermore, the event also hosted a digital exhibition where local governments, private institutions and organizations from respective countries unveiled their humanitarian efforts to its virtual attendees.

The Human Digital Library was another crucial feature that allowed visitors to access a large pool of humanitarian topics and resources related to cultural diversity, peace and coexistence. Through this, visitors were able to gain an in-depth understanding of issues around the world and read the works of leading academics.

The Art and Photography feature was also a remarkable activity that welcomed professionals from different countries to demonstrate the essence of human fraternity through their works. This was a major opportunity as the participants were able to gain great recognition through this global event.

Moreover, the audience was able to explore uplifting humanitarian stories that served as a catalyst for a better society and ignited the humanitarian efforts in respective countries. This also highlighted the positive impact that it had on the lives of people, thereby motivating the viewers to make a difference in any possible way.

“We are very honoured to organise this event under the Patronage of the UAE Ministry of Tolerance & Coexistence. It is our utmost pride and commitment to be able to share their noble aspirations and accomplish them successfully by bringing a historical and momentous virtual event to the whole world. We believe that building a better society has always been of utmost importance, especially during these challenging times. Thus, we continue to be one with the UAE in its efforts to achieve global peace and cooperation through promoting the principles of human fraternity so every human being can live a happy and fulfilled life regardless of belief, culture or colour,” stated Mr. Dawood Al Shezawi, the President of the Organising Committee of the International Human Fraternity Summit.

The International Human Fraternity Virtual Summit, would like to extend its appreciation to Etisalat, its Official Telecom Partner, as well as all its esteemed sponsors and partners that helped made this event a great success.

“We are delighted to be the official telecom partner of the International Human Fraternity Virtual Summit, which is in line with Etisalat’s overall strategy of ‘Driving the Digital Future to Empower Societies’. This event, under the theme ‘Human Fraternity for Working

Together to Achieve a Better Future, is closely aligned with our corporate social responsibility strategy to support the communities we serve. We at Etisalat join the UAE in its efforts to promote peace and spread the principles of fraternity and peaceful coexistence worldwide,” said Dr. Ahmed bin Ali, Group Senior Vice President of Etisalat.


Be a People Person: Networking is the Path to Business Success

If it’s not what you know but who you know, networking is de rigueur for business people and entrepreneurs.

[caption id="attachment_18677" align="aligncenter" width="900"] Low Cost Vans: Rod Lloyd CEO and Lorraine Kitchen HR Manager. Photo: Ryan Mcnamara[/caption]

We all do it, but some do it better, and more mindfully, than others. Some do it without even trying. So what, exactly, is networking? And how has it evolved over the crazy year that has seen us become pros at Zoom and all things remote?

There’s an African proverb: “If you want to go fast, go alone. If you want to go far, go with others.” It seems to sum up the power of networking as a long-term tool for growing a business and a brand — in ways that you may not even envisage at the outset.

Humans have always been tribal. We feel instinctively drawn to certain people — and to certain brands. Marketing experts tell us this is driven by an alignment of core values. Values resonate, or represent an aspiration. There’s always some deep and meaningful explanation to which reviews and research results can attest. This preference for what feels right also influences our choice of networking group, and the way we approach it.

Marina Gask, a long-time member of networking group Sister Snog, believes that the friendships that are forged become the deepest drivers of ongoing success, support and collaboration. Gask is a copywriter, press consultant and co-founder of new online platform, audreyonline.co.uk. She admits that before her experience with Sister Snog she found networking very hit-and-miss — but all that changed when she joined the group.

“I’ve made some of my deepest friendships through Sister Snog,” she says, “one of whom is now my business partner. I came into it as a freelance journalist looking for other ways to generate income streams. And since then, I've ‘become’ a business, offering copywriting, blog coaching, business writing and press consultancy. I've had a ton of work through referrals from Sister Snog, and worked directly for some of the members.

“And it's not just the work, it's the sharing of business practice, knowledge, contacts and events. It has really built my confidence, being around other businesswomen from completely different sectors to my own. Sharing challenges and solutions together is incredibly powerful.”

Jackie Barrie, author of The Little Fish Guide to Networking, advises an open mind. “Simply use networking events as the chance to meet new people and have fun,” he advises. “Your goal is to get people to know, like, and trust you. Later, once they understand what you can offer, they will be happy to refer you.

[caption id="attachment_18678" align="alignright" width="211"] Rod Lloyd with Keir Starmer[/caption]

“Meanwhile, you get the joy of doing the same for them, because that’s what friends do for each other. I can trace over 90 percent of new enquiries back to someone I met somewhere, sometime.”

Anyone who has dipped a toe into the world of sales will have heard the “people buy people” phrase at some point. It’s a cliché, but there’s truth in it. “Everybody asks me: How do you know so many people?” says businessman Rod Lloyd, director of British vehicle hire company Low Cost Vans. “It’s simple, really. I talk to a lot of people. I always remember people’s names and I always follow things up.

“When you meet a group of people for the first time you might be a bit on edge, and you don’t take in their names when they first introduce themselves. I’ve trained myself to go round in a circle and ‘clock’ the names and remember a specific detail — for example, red sweater = John — and it helps me to register each person’s name. When I’m talking to that person a few minutes or an hour later, I make a point of using their name. Invariably they won’t remember (mine), so I remind them, and then they never forget it.”

Lloyd also scrutinises the guest list before a black-tie event and highlights those he intends to connect with, entering with a conscious goal. He believes that getting to know people is a key weapon in developing a word-of-mouth marketing strategy.

Barrie agrees. “It’s the best kind of networking and marketing there is, because other people do your selling for you. Having a word-of-mouth strategy is like turning yourself into a magnet that attracts enquiries from friends, and friends of friends,” she says.

The media-driven world needs shiny nuggets of expertise to keep its momentum, and networking can be the perfect opportunity to position yourself as an expert in your field.

Victoria McLean, CEO and founder of career consultancy firm City CV, grew her business from scratch by networking. “As a start-up founder, I didn’t have a big advertising budget,” she says, “or any advertising budget, actually. I’ve built a community of around 500-plus professionals on LinkedIn by optimising my profile and sharing and posting useful articles and blogs about all aspects of career development and the changing nature of work.

“I’m regularly asked to comment on career issues by the media — everyone from Cosmo to the City financial press. I’ve also been invited to run webinars, host discussion panels, and speak at business events across Europe and in Australia. Networking is also how I keep myself up-to-date and motivated.

“I get really inspired by having a diverse group of people around me. Currently, it’s mostly Zoom calls and online events, but networking has been essential to building my business, and it’s proving just as essential to ensuring we continue to grow and support people.”

The six degrees of separation principle fascinates Rod Lloyd. “I was talking about it recently and realised that — if I really needed to — I could make one phone call and gain a direct line of communication to a former US president.”

Porter Gale, former vice-president of marketing at Virgin America and author of Network Is Your Net Worth, argues that in the age of tech, it’s not even six degrees of separation — it’s more like three. As technology ushers in an era of increased innovation and collaboration, contacts and partnerships are brought closer, and there is increased access via online platforms.

Networking has evolved from transactional to transformational. It’s about taking control of your own course, following your most authentic passions, and making meaningful connections — which can in turn increase your happiness and productivity.


BIAT: Taking Decisive Steps to Counter Uncertainty Has Lent Strength to Tunisian Society and Economy

The International Arab Bank of Tunisia (Banque Internationale Arabe de Tunisie, or BIAT) was founded in 1976 and has emerged as a key player in the country.

It has subsidiaries in the fields of insurance, asset management, private equity, stock market intermediation and advisory services. The bank has 205 branches across Tunisia and more than 2,000 employees, serving individual and corporate customers that include SMEs, large corporations and institutions.

BIAT undertook a series of support measures during the Covid-19 health crisis; chief among them was the Moltazimoun initiative. This offered solutions for clients facing difficulties caused by the pandemic, as well as support for the wider community, to cope with the economic and social repercussions. Under the initiative, BIAT allocated $182.2m in additional credit to meet corporate clients’ financing needs for day-to-day operations. The decision-making process was adjusted to become more decentralised, and to simplify and streamline the provision of funds.

"BIAT has put preventative measures in place to ensure the health security of its customers and employees, and advised clients on minimising movement and employing remote tools."

BIAT has undertaken studies of specific client requirements and adapted its support accordingly. The bank encourages clients to remotely contact customer advisers and business managers, who are available to provide advice and support.

BIAT has closely followed the evolution of the Covid epidemic and complied with guidelines and instructions from government and health authorities. It has activated its resilience plan with a system that ensures the continuity and stability of activities and transactions as well as the security of its customers and employees. All BIAT branches were kept open, and support services were continually operational.

BIAT has put preventative measures in place to ensure the health security of its customers and employees, and advised clients on minimising movement and employing remote tools.
Measures put in place to support employees:

Regular disinfection of ATMs.

A sterilisation operation was carried out at the bank's six-storey, 1,000-employee head office.

Small teams have been implemented as part of BIAT's business continuity plan, cutting the number of employees physically present at the head office by 70 percent. This was made possible by remote working tools and did not affect the normal functioning of the bank.

Buses were provided to ensure employee transport in Greater Tunis.

Hydro-alcoholic distributors have been installed for hygiene in all common areas of the agencies and the head office.

Gloves and protective masks have been made available to all staff in the sales network.

Limits to internal and external meetings, and events and gatherings have been suspended.

There are 14-day self-isolation measures for employees who have travelled abroad.

Awareness-raising campaign via video, posters, and meetings with specialist doctors.

Reorganisation of sales activity in branches, and the provision of remote tools.

Measures Put in Place to Secure and Support Clients

BIAT has limited the number of customers present in branches, and enforced minimum distancing between them. Specific reception areas were established to limit groupings.

More than 260 ATMs are available throughout Tunisia, as well as three self-service spaces in Tunis, Sfax and Monastir accessible at extended hours.

The Biatnet app allows customers remote access to their accounts, including card transactions, transfers and statements.

A customer relations centre, open six days a week, is there to provide assistance.

BIAT offers free ATM withdrawals to customers of all local banks and post offices to participate in the national effort to fight Covid.

Allocation of Earnings for Fiscal Year 2019

BIAT has decided to allocate its 2019 profit to reserves. This decision was motivated by measures from the Central Bank of Tunisia to buffer the economy.

Measures Put in Place to Ssupport Society/Community

BIAT participated in the national effort to fight coronavirus, and made a $6.6m donation for the benefit of the support fund to the Ministry of Health, and organised support actions through its foundation.

Beyond this financial contribution to the 1818 fund, BIAT endowed its foundation with additional scope to engage in targeted support actions. These revolve mainly around:

Acquisition of medical equipment to strengthen and improve the reception capacity of hospitals (such as assisted breathing equipment and PPE.

The purchase and mobilisation of non-medical equipment necessary for the provision of health services such as logistics.

Participation in awareness-raising and prevention actions for citizens through the bank's commercial spaces to ensure communication on health measures and the promotion of remote tools.

A committee has been set up to support and monitor the implementation of all of these actions according to developing needs.


East Africa Metals: Prospecting for Precious Metal, Uncovering Wealth of Trust in Fostering Personal Relationships

East Africa Metals was formed by a merger of Canaco Resources and Tigray Resource in 2013.

This was a re-alignment of the company’s position in Africa that flowed from the decision to expand the area of interest to include the Arabian Nubian Shield in the hope to follow-up the discovery of the one-million-ounce Magambazi discovery in Tanzania in 2009, with more, successful exploration in Ethiopia’s northern Tigray region.

[caption id="attachment_18691" align="aligncenter" width="900"] The current Global Project Resources discovered by EAM (inclusive).[/caption]

In 2004, a group of colleagues formed EAM’s the parent company, Canaco Resources. with a business plan to make “quick and cheap” discoveries of gold and base metals. To fulfill this mandate, EAM management identified advanced, drill-ready exploration projects that created an opportunity to move a project through the value-creative discovery phase. Success would add significant value to a project — and to EAM’s assets — as resources were defined through a capital- intensive programme of diamond drilling.

Initially, EAM management implemented the business plan with a focus on Alaska and Mexico, but it was not until a visit to Tanzania in 2005 that management recognised the opportunity for discovery in under-explored regions of the country.

EAM engaged in research with academic institutions and experts that led to the acquisition of the Magambazi property, in a previously unexplored part of Tanzania. It was far removed from the traditional gold- producing region of the Lake Victoria greenstone belt. Success came quickly when the first hole drilled on the property returned 53 metres grading 4.32 grams of gold per tonne in 2009.

The discovery in Ethiopia in 2011 took a little longer. It was the fourth drill hole that returned 73.80 metres of 3.80 percent copper, 1.30 grams per tonne gold and 14 grams per tonne silver — including 36.45 metres of 6.01 percent copper, 1.69 grams per tonne gold, 19 grams per tonne silver and 1.31 percent zinc.

[gallery size="medium" link="file" ids="18692,18693,18694"]

EAM has been successful in accumulating gold and copper resources on three projects in Ethiopia and one in Tanzania. To date, it has achieved low discovery costs of $30/ounce ($11/ounce in Ethiopia, $60/ounce in Tanzania) compared to the global average of $147/ounce.

In recent months, EAM has completed its business plan by getting all four projects approved for mining, and signing agreements with development companies on three of the four projects: Mato Bula, Da Tambuk and Magambazi. Mine development programmes are slated to begin in early 2021. EAM will retain 30 percent interest in the projects that will provide cash flow that will fund EAM’s future exploration elsewhere.

EAM chief executive Andrew Lee Smith said that with the formal approval of the Mato Bula, Da Tambuk, Harvest and Magambazi mining licenses, East Africa’s assets now include four, fully permitted gold and base metal mining projects in Africa.

“Over the past seven years, East Africa has been able to advance our projects from discovery through to advanced development phase at a pace that is seldom seen in emerging resource sectors,” he said.

“The performance of the exploration programmes designed and implemented by EAM are notable, not only due to short time-frame, but also by the low discovery cost of US$30/ounce. This metric speaks not only to the tremendous mineral endowment of Ethiopia, but also to skill and experience our technical staff have applied to the highly prospective, under-explored geological environments in Ethiopia and Tanzania.

“As we look back to the achievements of the past decade in Ethiopia and Tanzania, we are confident of continued success going forward.”

Throughout EAM’s exploration in Africa, the company has been aware of its obligations to local communities. In developing a strategy for CSR, EAM management and the Board of Directors confirmed support for a mandate that would focus on the education of women and re-forestation. “Most importantly, engagements by EAM management with these local communities were instrumental in identifying needs and establishing co-operative working relationships.” said Smith. “The personal relationships established through the collaborative approach, fostered trust and understanding on both sides.”

Denis Dillip - East Africa Metals Geologist

[caption id="attachment_18695" align="aligncenter" width="900"] Denis Dillip (second from left)[/caption]

Denis Dillip is a mineral exploration geologist with over 20 years of experience in the mining industry.

He graduated from the University of Dar es Salaam with a BSc Honours degree in Geology. Dillip started his career with Anglo Gold Ashanti (Geita Gold Mine) as a mine geologist. He later joined a regional exploration team where he worked as project geologist, managing two operations, Mkurumu and Njoge, located in eastern Tanzania.

Dillip joined East Africa Metals (TSX-V-EAM), again in the role of project geologist, and later served as chief geologist and president of Canaco Tanzania Limited, a Tanzanian subsidiary of East Africa Metals, for over 14 years.

Dillip has been recognised for successful exploration programmes and the discovery of a one-million-ounce gold deposit located in under-explored and non-traditional exploration terrain of Tanzania's Proterozoic Belt. Under his management and leadership, East Africa Metals (through its subsidiary) was overall winner of the 2012 Presidential Award for best CSR practices and community relations among mineral, oil and gas exploration companies in Tanzania.

In 2013, Dillip was the invited speaker on CSR matters for the Mining Business Investment Forum in Kenya. The interactive forum attracted over 200 delegates from the East African region, including South Sudan, Eritrea, Ethiopia, Djibouti, Tanzania, Rwanda, Sudan and Uganda.

Dillip serves as a director on numerous boards in mining companies; he is also a member of the Tanzania Geological Society and of the Tanzania Chamber of Mines.

In 2014, Denis Dillip was nominated by Choiseul 200 Africa Economic Leader of Tomorrow, which identifies and ranks African leaders under the age of 40.

For more information, please visit: eastafricametals.com/about/#management