Hub for Foreign Investment – Moroccan Business Opportunities

Hub - Morocco

The Middle East and North Africa have seen their fair share of economic and political instability, from the Arab Uprisings of 2011 to the commodities crash and oil price dive in 2015. Therefore, attracting foreign investment has always been a difficult task, but not an impossible one. Morocco has been in the spotlight as a hub for foreign investment, the country has experienced a major growth in recent years, through strategic innovations, robust infrastructure and diversifying their economy. Instability and risk are arguably the biggest blockades that foreign investors face when seeking external business opportunities. Morocco has been steered into safer grounds and is now experiencing positive growth.

Watch Us Rise
Becoming a hub for foreign investment throughout the continent of Africa is no easy task. But recent events have shown Morocco to become a regional manufacturing and export base for international companies, with over $4.2 billion investment from France, UK, Spain and South Korea in 2018. The country has aimed to boost employment, attract further foreign investments and raise output performance in sectors that generate the most revenue, such as the Automotive and Aerospace industries. The Aeronautic sector is especially prominent and active with over 140 enterprises, delivering in excess of $1.7 billion revenue in 2019, equivalent to 17 billion Dirhams. To put this into perspective, Morocco was only active with 3 enterprises 20 years ago. Morocco’s commitment to the Aeronautical sector is increasing, with plans to add 10 enterprises per year and an overriding goal to attract over 120 industry related enterprises by 2020, translating to a surplus of 8,700 jobs and a $1 billion revenue increase in exports. Morocco has justly become a robust hub for foreign investment and should be the ones to watch over the next 5 years.

Education Impacts
Earning the title of Africa’s hub for foreign investment doesn’t come easily, the government has had to make smart decisions, wise investments and provide a healthy foundation to attract others. Importantly, Morocco has aligned a focus on the internal education of its citizens, in attempt to organically grow the country from within. Education is of utmost importance for a booming country, to keep delivering prosperity and achieve targets set for 2020. Therefore, when the Chartered Institute for Securities and Investments (CISI) partnered with the Casablanca Stock Exchange (CSE) to provide global qualifications across universities in Morocco, the potential for growth was becoming more likely.

“We wish through these new certifications, to develop the knowledge and the technicality of the financial center of Casablanca. We are happy to partner with a recognized international organization, CISI, which will enable us to offer a service that best meets this objective. We are also pleased that higher education institutions continue to trust us by supporting this initiative.” – Karim Hajji, General Manager of the Casablanca Stock Exchange

Morocco is experiencing success on many levels and the Global Financial Centres Index (GFCI) supports this. Casablanca ranks the highest of all African countries and stands tall at 22nd on a global scale. So why is Morocco steaming ahead of its neighbouring countries?

The Art of Giving Back
The vast landscape of the African continent presents countless possibilities to secure trade and to diversify economies, yet it takes the recognition of the potential to utilise what Africa has to offer. One of the main reasons for Morocco’s success is this recognition. Moroccans have been particular interested in Ethiopia, Ivory Coast and Africa as a whole for investment opportunities. From chemicals to real estate and renewable energies, Morocco is deploying capital to neighbouring and local countries throughout the African continent. Essentially, Africa is seen as the future engine for growth for the global economy.

“Moroccan policy translates into Moroccan investment into Africa,” – Ibrahimi, chief executive of Casablanca Finance City (CFC)

A World of Coverage
Cedar Rose has been at the forefront of business intelligence for many years, with the heart of the business residing in the Middle East and North Africa. A country doesn’t become a foreign investment hub without dedicated research and assurance that potential risks are relieved. We offer data that can mitigate those risks for you. Whether you need company credit reports or a more detailed due diligence investigation on companies or individuals, Cedar Rose has acquired the largest database in the MENA region, invests in local expertise in the hardest of regions and provides high quality data to help others seek secure opportunities. Currently our database contains over 1,600,000 records on companies in Morocco, this continually growing number can provide sufficient data to help corporations know their customers to the fullest extent, or even more so, with a due diligence investigation.

Have you read our article on compliance

Written By Jack Evangelides, Marketing Assistant

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

Africa Trade – Struggling to Trade Compliantly?

Africa Trade

Don’t worry, we’ve got your data needs covered.
Cedar Rose has been investigating companies in the Middle East and Africa for over 20 years. We not only have the largest, most comprehensive database on African companies (almost 5.8 million companies), we have linked people to people, companies to companies, and companies to people to ensure link analysis -even across borders.

Africa offers a great deal of potential as a market to trade into. That’s why China is heavily investing in African infrastructure projects. According to a recent report from Quartz news site, Chinese investments and contracts in sub-Saharan Africa alone totalled $299 billion from 2005 to 2018 and the investment is continuing. China is not the only country investing in this vast continent though. The majority of investments come from France, the Netherlands, USA and UK with Egypt receiving the highest foreign direct investment – totalling USD 6.8 Billion in 2018. Other major beneficiary countries have been South Africa, Congo, Morocco and Ethiopia.

So what is the attraction to invest in Africa?

The African Continental Free Trade Area agreement was signed by 54 African countries in March 2018, requiring members to remove tariffs from 90% of goods, boosting inter-African trade. The agreement was expected to lead to the creation of a single continental market of more than 1.3 billion people, with a combined annual output of $2.2 trillion. It is hoped to boost intra-African trade by 33 per cent, leading to greater stability within.

The African continent is a huge land mass covering over 30 million square km – that is bigger than the USA, Canada and China put together. It actually covers 20% of the world’s land area and the population is almost the same as China alone so there is plenty of room for growth.

With an increasingly educated and growing population and a generally very low cost of living, Africa offers some great potential for companies requiring manpower. For example, Cairo and Algiers are approximately 30% cheaper to live in than Beijing and 13% cheaper than Delhi, hence the large number of companies setting up manufacturing plants on the continent.

Here are some of the hottest sectors at the moment:

  • Egypt – offshore gas reserves and new oil exploration and production projects, food (grains) and textiles.
  • South Africa – mining, petroleum refinery, food processing, ICT (information and communications technologies) and renewable energy initiatives.
  • Republic of Congo – (not to be confused with its neighbouring country, the Democratic Republic of Congo which has rich mineral reserves) the Republic, also known as Congo (Brazzaville) recently received USD 448.6 million in aid from the International Monetary Fund and has huge oil and gas reserves as well as iron ore.
  • Morocco – renewable energy, finance, automotive manufacturing and education.
  • Ethiopia – petroleum refinery, minerals, real estate, manufacturing including automotive and renewable energy.

Whenever you consider venturing into new markets, having accurate data is imperative. Traditionally, Africa has been a difficult place to gather data from and this has deterred investors and businesses from going ahead. But Cedar Rose has made efforts to close the data gaps and can really help if you need to know anything about an African business, director or shareholder in order to grow your business safely into the region. There are always risks associated with doing business, and with our boots on the ground and experienced researchers, we help to mitigate those risks for our customers around the world.

Our data is source graded, meaning that every data field within our database is date stamped and labelled with a reliability and trustworthiness score according to where it came from – because when conducting due diligence or investing large sums, only 100% trustworthy sources should be used to base decisions on – and there is a lot of less reliable data out there.

We are working through a fast track expansion plan to include more data for Africa within 2019, and to have as live a database as is possible for this region of the world very soon in order to support the leap from traditional data requirements to eIDV, eKYC, fintech, instant risk scoring and analysis.

Find out more by contacting Helen.Lambrou@cedar-rose.com today and join our growth into Africa.

Read more articles here.

Written by Christina Massaad, Managing Director

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

API – An Insight into Data-Sharing in the 21st Century

API

Application Programme Interface, or as most know it, API, has revolutionised the way the world operates and has provided efficiency beyond belief. The inherit design of this application software acts as the backbone of modern connectivity, providing and utilising efficiency, reliability and speed. API provides alternative means to achieve outcomes, meet demands and diversifies the way Business-to-Business (B2B) operations are carried out. Astonishingly, according to TechCrunch, Salesforce generates 50% of its revenue via API, eBay nearly 60% and Expedia an unrivalled 90%. This relatively new concept, a technological marvel, has gone further than most would have imagined. It is important to understand the principles and benefits of APIs and what they can, or already do for your company.

The What
API, on the surface, is complex software with a lot of technical jargon attached to the matter. However, after understanding the practicalities and the fundamentals of Application Programme Interfaces, it becomes more evident what they intend in doing.  In layman’s terms, APIs allow one piece of software to make use of the functionality or data of another. API functionality’s main purpose revolves around B2B activity. This machine to machine interface can transfer data, in real time, and provide an array of instant possibilities and efficiencies. Importantly, APIs help create seamless networks in order to improve value transfer with suppliers/vendors, clients, partners and employees.

Incredibly, since this innovation become available in 2005, the last 14 years has shown an astonishing rise in usage, illustrating how necessary and important the day-to-day use of APIs are. Below is a table of the growth of Web APIs submitted to the ProgrammableWeb directory from 2005-2018.

API Growth

The Benefits
APIs have the functional capacity to perform a multitude of tasks that can be utilised from business to business. From sharing data and processes to real-time results, APIs are a heavily relied upon software. In a nutshell, an API can help create seamless networks that improve value transfer with clients, suppliers and more. Additionally, some core benefits are:

  1. Ease of Access – In order to provide the best customer service you want to make life as easy as possible for your clients. Well, APIs can enhance the user experience and save time making your customers jump through hoops of login forms, order forms and alike. If an API is set up for your end user, integrated into their application, you are essentially removing any barriers from them using your service. This may just generate a long-term client and a happy one at that.
  2. Innovative – In some cases it is possible for API providers to incorporate functionality that end-users have adopted and extended themselves. Through traditional web applications and user experience you have pre-determined how your service is to be used. However, via API, flexibility and innovation may open up a variety of other means for your users to engage in. This could create whole new industries and verticals that you could service.
  3. On-Demand – The real-time applications of APIs provide a platform in which your users can utilise the most efficient of services. An automation of requests and responses will eradicate any roadblocks in traditional service. Your business will be digitalised and primed to scale with the functionalities that an API has to offer.
  4. Customer Analytics – Streamlining a focus on services you provide can allow your company to more directly analyse and enhance to better suit your users. User experience may depend on how the users interact with applications and time may be overspent scrutinising these fine details, rather than working on the actual services that you provide. Streamlining your focus would enable you to understand exactly what your customer’s want, allowing you to better plan your business’s strategic road map.

Cedar Rose’s Availability
Cedar Rose has always taken pride in being one of the most innovative and up-to-date companies in its field. Thus, we heavily endorse the use of APIs to provide a bespoke service to our clients on a daily basis. As we offer data all around the world to a wide array of clients at all hours of the day, we need to make sure that we have accessible services for the greater benefit of everyone. Henceforward, we have enhanced our API capabilities to allow for instant services for credit reporting, risk assessments, due diligence and electronic identity verification. We believe that our customers deserve the best, and when you need critical data for urgent decision-making matters, we can provide you with the relevant data-transfer in a fast, streamlined and secure approach.

Visit www.cedar-rose.com today to see how we can help you.

Written By Jack Evangelides, Marketing Assistant

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

Solar Power Controversy: How to Utilise Alternative Energies

Solar Power

It is evident that the 21st century portrays a mission for sustainable, renewable and alternative energies. Solar power is one of the most advanced forms of clean energy that current technologies have to offer, it is a source of energy that is beginning to be used more widely across the globe. Solar power energy, harnessed by technologies such as solar panels, is most optimised in countries that provide the most sun. This gives the continent of Africa a significant outlet to harness renewable energies. Countries such as Egypt, Sudan, Chad and Niger are all witnessing an average of over 10 hours of sun per day. So why hasn’t Africa managed to utilise their ideal climate to produce sustainable energy?

Solar Power Potentials
There are approximately 600 million Africans who live without electricity and those that have access experience power shortages and high prices. If this continent was able to utilise solar power technologies it could transform it in many areas. Socially, more citizens will have access to electricity which will in turn bolster their economy, providing more opportunities for the people of Africa. Additionally, diversifying the economy with solar power energy will provide stability and economic growth for Africa. Having a strong focus on renewable energies also provides a more sustainable environment, a healthier environment that will be organically sustained for the future. Current means of energy through fossil fuels are simply redundant, polluting and inevitably coming to an end, countries need to take the right initiatives for a sustainable future.

Although, as a whole, Africa poses as a continent that lacks availability to constant electricity, there are a few countries that show the possibilities of alternative energies.
For example, Morocco is an iconic country, paving the way forward with solar power technology, not only for other African countries, but for all. The Moroccan government is pushing to generate over 50% of its electricity, through only renewable energy, by 2030. To enforce this, they are pending the completion of the world’s largest solar plant, through the construction of Noor Ouarzazate. This significant solar power station has already undergone many installations and is still growing. Since 2013 this project has grown and achieved incredible results.

The Roadblocks
However, for many parts of Africa, it is not that simple. The production requirements for solar power plantations aren’t something that grows overnight. It requires a substantial amount of funding and investments to ensure the projects can develop in a robust manner. African governments invested a mere $12 billion annually, towards the power sector. In order to enact sustainable methods, much larger investments are required. By 2040, approximately $63 billion will be needed to be invested in the power sector.

Alternatively, weak infrastructure that currently exists in many African countries, including those nations with traditionally stronger economies, plays a part in the scepticism against adapting renewable energy. Businesses are continuously disrupted due to Africa’s power generating capacity, causing rationing, shortages and blackouts. Infrastructural issues in Africa hinder opportunities to diversify their energy.

Steps in the right direction
Although a big proportion of Africa poses as a harsh economic landscape to introduce solar power energy, more nations are becoming aware and making the right movements towards a more sustainable future. North Africa in particular portrays a region that has adopted solar energy and it is setting an example to the rest of the continent.

Moreover, national governments are attempting to tackle the issues with scaling up these initiatives through offering more reasonable payment solutions. Pay-as-you-go solar solutions have become a success throughout the continent, providing a financially healthier framework to build upon.

African Business
Are you considering doing business in Africa? Cedar Rose has an extensive amount of data on companies and individuals within the region; we offer award-winning business credit reports, in-depth due diligence investigations and other services that may assist you in working within Africa.

Visit www.cedar-rose.com today for more information.

For more articles on clean energy make sure you check out our newsroom.

Written By Jack Evangelides, Marketing Assistant

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

Adapt, Overcome and Diversify – The Oman Way

Adapt - Oman

The Middle East and North Africa (MENA), collectively, have embarked on a mission to diversify their sources of energy. From solar power initiatives in Egypt and the UAE to windfarms in Oman, the MENA region is expanding their sources of energy in an eco-friendly manner. Each entity that makes up the MENA region has had to adapt to these newer forms of energy, spreading a major influence across the nations. The Gulf Cooperation Council (GCC) has envisaged a region that draws much of its energy from renewable sources. Many nations in the MENA region have implemented visions of greener energy and Oman is the next country in the limelight with their current ongoing implementation of a windfarm in the Dhofar Governorate.

Adapt
Oman has adapted to an ever-growing demand, to diversify their energy sources, and is expecting to complete the windfarm project by Q3 2019. This initiative will be the GCC’s first utility-scale windfarm with expectations of generating electricity to supply around 16,000 homes. The Dhofar Governorate presents itself as a suitable region for the implementation of the wind turbines. However, due to the harsh weather conditions, the wind turbines needed to be tailor made by GE Renewable Energy, in order to withstand intense heat and arid desert conditions. Nonetheless, the Dhofar project is one of many ideas to harness renewable energy in Oman.

The entire project is funded by the Abu Dhabi Fund for Development (ADFD) which reinforces Oman’s commitment to amplifying their energy sources. As stated, an estimate of 16,000 homes will be supplied with clean renewable energy; however, this is not the only significant factor. In addition to transferring cleaner energy across Oman, the nation is also offsetting an average of 11,000 tonnes of carbon dioxide emissions, annually. This alone is an incredible feat and a sign of a modernising and forward-thinking society. The world, in the last decade, has turned its head towards cleaner energy and greener solutions to replace the redundant ones currently in use. The Gulf region already suffers with extreme heat and humidity and relies on air conditioning to sustain comfortable living during most of the year. Governments and organisations in the region have proven to be very supportive of new initiatives and have implemented many techniques to provide more sustainable living.

“Supporting the diversification of Oman’s energy mix and economy is our top priority, in line with Oman’s sustainability goals, which aims to generate 10 percent of its electricity from renewable sources by 2025.” – Saleh Al Rumhi, CEO of Tanweer. 

Is Oman the next step for you?
Oman has proved that it can adapt, overcome and diversify to newer means of energy. Eradicating their reliance on traditional forms of energy has superseded future support to transform the nation entirely. This is upheld by the overriding vision which aims to generate 10% of electricity from renewable resources by 2025. The onset of these initiatives is generating an exciting, forward-thinking and ambitious nation that may prove to be pivotal in the upcoming years.

With Cedar Rose, you can navigate, instigate and operate within Oman. Being the leading industry experts for the MENA region, Cedar Rose has compiled sourced and relevant data on Oman that may help your company’s next move. Cedar Rose has been active in this region for over 20 years, in which we have gained a network of resources at our disposal, to provide quality data for others to use. By ordering a due diligence investigation we will be able to conduct an in-depth investigation of your potential business partner, customer/supplier or conduct research for investment motives. Cedar Rose’s due diligence teams consist of experienced and professional individuals, fluent in Arabic, French and English who can conduct meticulous research for your peace of mind. Our data is globally trusted, reliable and detailed. To find out more, go to https://www.cedar-rose.com/solutions/investigative-due-diligence or email orders@cedar-rose.com for a full quotation.

If you enjoyed our article on Oman, make sure you check out our other articles as other countries adapt towards clean energy here.

Written By Jack Evangelides, Marketing Assistant

Sourced Image: Pixabay

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

Employee Spotlight – Hannah King

Hannah King

About you
Name:                    Hannah King
Position:                Client Relationship Executive

Q: What position do you hold in the company and how long have you worked for Cedar Rose?
A
: I am the Client Relationship Executive and have been with Cedar Rose since March 2016.

Q: What do you love about your job?
A
: From Monday-Friday, week-in week-out, my days are ever-changing. I love the new experiences, the new challenges and, importantly, the new things that I am constantly learning. I am grateful to work in an office where I am constantly provided the opportunity to overcome any obstacle that comes my way. On a collective level, the support and encouragement that I receive from my friends and colleagues with whom I work with provides me with the motivation to overcome any and all challenges. Additionally, it is always a great feeling when I am able to bridge the gap between two companies, building relationships with our clients and watching them benefit from the services that we have to offer.

Q: When you hang your hat on Monday morning, what does your day consist of?
A
: As previously stated, I focus much of my work on forming new relationships. It is vital that I understand every ‘nook and cranny’ of Cedar Rose so I am able to provide detailed assessments and information for potential clients. Importantly, I also maintain already existing clients, making sure every arrangement and every client is happy with the services that we provide. In this line of work, every day is different and I greet every new day with a new challenge and a refreshed determination to succeed.

Q: What drives you to be successful in the workplace?
A
:  As our company motto goes ‘strive for excellence’, this is something I always have in mind. I aim to achieve this daily, and I am always trying to learn new things to make me succeed. I enjoy extending out of my comfort zone so I can grow into new areas of the workplace, strengthening my knowledge and consolidating my ability to be the best Client Relationship Executive that I can be. Furthermore, my colleagues keep me inspired to be more successful, they are a great influence within the work environment.

Q: What achievements are you most proud of in work?
A: I undergo achievements in work every day, big or small, and it is these differences that make me proud, they are personal achievements to me. Additionally, I achieved my Certified International Credit Professional (CICP) qualification which really helps me understand the challenges faced by our credit reporting and exporting clients from their perspective. I was extremely proud of myself for completing this qualification, but with a bit of perseverance, desire and determination I know I can succeed in anything I do. Nonetheless, the support and guidance of everyone at Cedar Rose is always such a strong force in helping me, and I am sure others, succeed.

Q: What achievements are you most proud of outside of work?
A
: Without a shadow of a doubt my 4 year old son, Spencer, of course there are many achievements I could say but this is number 1 and the proudest achievement in my life.

Q: What do you love to do outside of work?
A:  I love to spend a lot of time with my son, socialise with my friends, including my work colleagues who I always have fun with, and enjoy myself to the maximum.  Additionally I love spending time with my family who I owe so much to and spending time trying to see this amazing island that I am blessed to live in. I also love to travel, experience new cultures and explore different experiences as much as I can.

Similar to Hannah, check out other spotlights of Cedar Rose Employees here.

Written By Jack Evangelides, Marketing Assistant

Sourced Image: Zippy

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

Data Driven Targeting: Knowledge is Power

Data-Driven Sales

Data is essentially the ‘bread and butter’ of the 21st century. This ever-growing concept is used in our everyday lives. From professional to personal and night to day, data is core to our everyday operations. In regards to data, the only limitation is your imagination, it can be utilised in a copious amount of ways in order to provide significant results. Business has never before been so competitive, with more and more companies competing to provide the best services, sell the greatest products and succeed in their industries. Thus, finding the key to get that edge on your competitors is vital in this day and age. Strategic selling is more necessary than ever, rather than the tradition spray-and-pray techniques that lead to lower sales conversions.  So how can data-driven targeting enhance your company’s sales?

How Data can transform your Sales Team
Imagine having all the possible data on every potential client of yours, you could know the ins and outs of their business, who they sell to, are they growing, what’s there maximum credit limit and more. Now, what if your team could utilise this information, filter it and, from there, map out the best potential clients based on many data fields. You would essentially have the key to the most pinpoint and accurate selling possible. However, it is not as simple as that. With data comes errors, you may look within your own company to draw out data, to utilise what you have and from there generate a decision. Human errors play a big part in the misleading and mishandling of data, in fact, according to IBM poor quality data costs the U.S economy alone $3.1 trillion annually.

The first step is always to look within. What data do you have in-house that you can utilise? Getting the grasp on your own data can help your company strategically plan the best way forward. Your data-driven targeting techniques may be limited by using only in-house data but it will guide you to what you need. Setting clear and tactical sales plans to know what your customers want, to establish a specific clientele and to create a team who are, essentially, one step ahead of the competition is the ultimate goal.  Once you acknowledge the fact that you can use your own company’s data to distinguish a sales path you can then progress towards understanding what specific data you are looking for. Data such as: Employee numbers, location, investors, company news, Standard Industry Codes (SIC), recent acquisitions or more. However, the limitations of in-house data may be a dilemma towards pinpointing your clientele.

There are numerous solutions to digging up more data, and, more specifically, high quality data. It is important to understand that quality data carries a lot more weight than the quantity of data. Data that is outdated, written in local language (foreign to your own) or incorrect due to human error, can have major negative implications on your company. Thus, it would be wise to research into Customer Relationship Management (CRM) tools such as Salesforce. Platforms such as this contain a multitude of data packed, pampered and ready to be utilised. This hub of intelligence can potentially provide your company with all the answers that it has been looking for. Your sales team has learnt to utilise data, has understood the specific data necessary for the clientele you desire and now has the resources to filter out unnecessary or unwanted information, leaving you with clear sights of who you should be targeting. Data-driven selling techniques may just be crucial for your company’s growth.

The Cedar Rose Solution
Data isn’t always the easiest to gather, nor is it the most reliable, therefore it is important to sieve through your data to correctly manipulate it. Additionally, some regions prove to be much harder to draw data from, language barriers, difficult jurisdictions and lack thereof are a few reasons that may put the brakes on your data quest. Nonetheless, Cedar Rose may have the answers you are looking for. For over 20 years Cedar Rose has been compiling data from the hardest of regions, translating and transliterating for your convenience. We make it easier than ever to attain source graded, award-winning and globally trusted data. Our database (CRiS) has data on over 23 million individuals and 12 million companies, specialising in the Middle East and North Africa (MENA) region.

Moreover, CRiS is also available on CRMs such as Salesforce, to spread what we have for the benefit for others to use. If you want to take the Salesforce route, contact nicole.konstantinou@cedar-rose.com for more information regarding Cedar Rose on Salesforce. Otherwise head to contact orders@cedar-rose.com and book your free trial with our exhaustive database today.

If you enjoyed our article on data-driven sales, make sure you check out our recent article on business credit.

Written By Jack Evangelides, Marketing Assistant

Sourced Image: Freepik

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

2020 Dubai Expo: Everything we Know #expo2020

The Dubai expo 2020 has been much anticipated and finally we are closing in on the start date.  These expo’s hold great significance and have done ever since its implementation in London, 1851. Some famous past expo’s that have revolutionised the world are: Philadelphia, 1876, which released the typewriter, Paris, 1900, unravelled the diesel engine and New York, 1964, displayed the first ever colour TV. Now, almost in 2020, what are we to expect? Dubai has, in itself, undergone major transformations in recent decades, become one of the most developed and modernised societies of the 21stcentury. Which begs the question, what is next to come? This event will run for 173 days, continuously, with 190 countries participating. Furthermore, the 2020 expo will attract millions of visitors from all corners of the globe, indulging in idea collaborations and showcasing of innovations.

What to Expect?

The Dubai 2020 expo features around a core ethos of “Connecting Minds, Creating the Future” and develops around three core themes.

Opportunity       :          Mobility         :       Sustainability

As Dubai prepares to take the centre stage for the world, the country envisages an expo in which members from all countries can utilise the knowledge gained and implement innovations collectively for a better tomorrow. A focus on eco-friendly, sustainability and clean renewable energies has been at the forefront of development in recent years, especially due to a rise in global issues. So let’s delve into these core themes and understand Dubai’s vision.

Opportunity

This concept focuses on the ability of the individual to shape the future for the masses, we all have the power to shape our futures and this 2020 expo will portray how we can unlock these potentials. From supporting solutions to social problems, such as eliminating poverty and providing clean water for all, to introducing visitors to new ideas and inspire them to act upon them. The opportunity pavilion, made from organic materials, such as stone and rope, sets to plant the ideas into individuals to develop into potentials for all to utilise. It is amazing what one can do when given the opportunity, unlocking new path ways and providing platforms that may revolutionise the way the world works.

Mobility

Keeping in theme with unlocking new potentials, this expo will enable smarter movement of knowledge, ideas and goods. Dubai will show how this has helped explore new frontiers and how humanity is making greater leaps than ever before through digital connectivity. Humanity has gone from ancient exploration to artificial intelligence. Now in a world brimming with data, we can understand newer forms of mobility in different lights.

Sustainability 

Potentially the overriding theme of the whole event, sustainability is a much deliberated topic of the 21stcentury. So, how is the Dubai 2020 expo going to tackle this? The expo will embrace alternative sources of food, water and clean and renewable energy, inspiring humanity to preserve the planet. Living in balance with the world we inhabit has never been more crucial as our societies grow. Over consumption and a variety of other issues are pushing us to explore alternative and sustainable means. The main topics that will be addressed at the expo are: generating clean energy, reducing water consumption, promoting natural solutions, minimalizing our carbon footprint, using sustainable building materials, reducing waste and, importantly, improving the overall awareness for sustainability.

Counting Down

There is a lot to look forward to from the Dubai 2020 expo and it will be an event that you are not going to want to miss. However, being the first time in history that this expo is being held in the region, it may seem daunting for some to travel to. The Middle East is an incredible region and a prosperous one at that. If you don’t have experience within this region then now is the time. It is important to seek out business intelligence to make sure you mitigate risks that may come your way.

Cedar Rose, an experienced business intelligence agency, can help you with this. With the largest Middle East and North Africa (MENA) database, whether you are searching for information on companies or individuals, Cedar Rose may have your answer. From credit reports to more in-depth and detailed investigate due diligence reports, Cedar Rose aims to help others alleviate risk and provides a platform of opportunities to do so. Contact us today to start your journey within the Middle East.

Written By Jack Evangelides, Marketing Assistant

Sourced Image: Dubai Expo

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

Green Initiatives: Enarry’s Clean Energy Expansion in MENA

Green Energy - Cedar Rose

One of the world’s leading solar panel enthusiasts is guiding the Middle East and North Africa (MENA) towards a cleaner future. MENA is going ‘green’ with Enarry’s expansion into the region via their solar panel ideology. The company laid its initial foundations in Jordan, attempting to provide a cleaner energy source and, at the same time, reduce Jordan’s dependence on foreign energy imports. Utility-scale solar farms have essentially been the ‘bread and butter’ of the company, the constructions and designs are advanced, environmentally friendly and are spreading globally. Enarry’s influence has spread to Egypt, expanding on Benban’s solar park, and their expertise is undergoing plans to build solar plants in Tunisia and beyond.

 Go Green & Get Clean
The MENA region provides a more than ideal landscape for solar panel initiatives. Factors such as large land mass, sunny weather conditions and traditional energy ideologies provide the foundations for Enarry’s expansion. The region has historically shown great aptitude for energy production. Countries such as the UAE and Saudi Arabia are among the world’s largest oil and gas producers. Yet, with a rising demand for energy and a global motivation to move away from fossil fuels, green initiatives have sparked across MENA. The region could boost its economy as a whole, through the exports of oil while relying on using renewable energies at home, which show costs at an exponentially lower rate. MENA provides an ideal platform for Enarry to enact business throughout, with plans already laid in the pipeline, it will be no surprise to see many more projects enacted in the coming years. Other companies have also seen the potential of the Middle East region in opting for green solutions. For example, Shams Dubai has already put in place solar panel projects which account for the ultimate goal of sourcing 75% of the UAE’s energy from clean energy sources by 2050.

MENA’s industry for power provides the perfect platform for further initiatives, as of September 2018 the total value for power projects was estimated to be worth $6.2 billion. The region strongly believes in diversifying its power generation mix. The abundance of solar, wind and nuclear power generates strong optimism for renewable energy projects in MENA. Furthermore, the capacity of investments from a multitude of companies throughout the region highlights the positive implications that the going ‘green’ initiative holds. However, it is vital to, before charging into this region, understand each individual country, how it operates and, therefore, how your company can get involved. Simply, you must do your due diligence.

 The Importance of Due Diligence
It would be naïve to assume you can conduct business anywhere, and on such a large scale, without first understanding the business and political environment. The MENA region is of no exception, an area that is subject to much controversy, it is pivotal that you know the region that you wish to conduct business in. Due diligence is necessary for the safety of your company, for your reputation and for you to truly reap the rewards. So what can you do?

Here at Cedar Rose, we provide expert business intelligence, specifically for the MENA region. We have over 20 years of experience and we hold a multitude of resources that ensure the proper conduction of business. Our services provide valuable insights into the companies of the Middle East, North Africa and beyond, and the owners, shareholders and directors behind them. From our due diligence researchers and analysts, to our ground agents in the region, we have the ability to find out what you need to know through investigative means. For example, an all-encompassing Enhanced Due Diligence Report may provide you with the sufficient information to conduct business, and enhance your company’s operations within MENA whilst mitigating risks.

Contact us today to find out more about our due diligence services.

Check out our latest article on Credit Management Automation here.

Written By Jack Evangelides, Marketing Assistant

Sourced Image: Pixabay

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

CREDIT MANAGEMENT AUTOMATION: DELVING INTO THE MENA REGION

Credit Management

Automated credit reports are, and have been, the future of credit management solutions. However what happens when certain areas cannot facilitate such solutions? Are their traditional methods of credit management simply cumbersome? The Middle East and North Africa (MENA) region has traditionally been ‘off the mark’ in terms of automated credit processes. Nonetheless, recent transformations of the business industry in MENA has seen great strides toward a more efficient conduction of business, coming more ‘in line’ with the rest of the world. Companies  such as Cedar Rose have been helping to bring the MENA region level on an international scale, in terms of automating processes. Although, is a fully automated system a step forward?

Room for Improvement
There are certain trends that demonstrate the possibility that B2B practice can transform, ultimately leading to a fully automated credit management system in the MENA region.

  • Customer Expectations: First and foremost, customer expectations over the last decade have grown in demand for greater online and mobile experiences. Further supported by the fact that “mobile payments are expected to grow four times by 2020” (Bahillo, 2016). Internally, users of credit and risk reports have adopted heightened expectations for timeliness and quality, thus conjuring a desire for an alteration in the current credit management model.
  • FinancialTechnology Companies Increasing Pressure: Post tighter regulatory controls through regulations such as AML and KYC, the digitally savvy companies are ‘upping the ante’ on transformations on the antiquated model of credit management. Furthermore, in order to stay competitive, staying current on the latest trends is a must.

These examples provide reasonable motives to suggest that credit management can be fully automated, yet there is still the principal question of should it be.

The Problems

  • Inefficiency: Efficiency is one of the underlying factors that pave the way forward for a revolutionary automated system. Society is quick, fast-paced and, most importantly, online. So why are we dealing with paper invoices and files that do nothing but collect dust? A crucial component of credit management is processing credit-blocked sales. Practically, a customer places an order; the supplier must then check the customer’s credit exposure against the assigned credit limit. Additionally, if problems then arise, the blocked sales order will be manually reviewed then forwarded for further processing.
    This process creates extensive deliberation between credit managers and sales, thus fashioning an elongated road of miscommunication and inefficiencies.
  • Trust Concept: Suppliers must develop a knack for trusting customers in terms of financial issues. For obvious reasons, this is not upholding, therefore, suppliers must investigate the trading partner before entering an arrangement. A collection of information from internal and external sources to determine creditworthiness generates another time-consuming path for credit management. Aggregating data in-time is a desire for efficient business, yet, the antiquated model doesn’t allow for such determination. Credit managers are simply unable to make informed decisions without the aforementioned process.
  • Meagre Risk Modelling: Risk modelling strategies are a common feature of credit management. Factors, such as determining how much credit to extend to a customer, produce an array of complications when using the antiquated model. Businesses calculate exposure in order to determine an agreed upon sum of credit. This is, traditionally, formulated by a customer’s payment history, internal data and external information. Yet, the current credit management approach cannot generate complex, significant risk measures to provide a summary of exposure. Moreover, these tactics are rigid and cannot be adjusted thus requiring duplication in effort. Also, the burden of manually gathering data required for the model each day is cumbersome.

Despite the aforementioned problems with the traditional credit management processes, there are, in specific cases, benefits of the system. For example, in areas where data is not available online, or even, if the data is deemed too outdated, it may be best to use the traditional processing system. Manual credit reporting in the MENA region or even due diligence investigations would be highly recommended and sought out when official data is unreliable or unavailable. Yet, when these factors are not the case, what are the advantages of the fully automated systems?

The Solutions

  • Saving Time & Money: An automated credit management system allows staff to focus on other areas that can speed up the process, with the burden of manually inputting data being lifted. An automated review of credit limit applications to calculate credit limit and risk category will save vital amounts of time and money spent on resources. This new and improved system can also detect negative credit trends and form a portfolio over customers, determining ones that need to be blocked, put on hold or simply, have terms adjusted. This, therefore, saves time and money chasing up customers and ‘tip-toeing’ around communication channels.
  • Mitigate Risk: If credit management was to be fully automated, it would mitigate potential risk and increase the efficiency of business arrangements. Through automation, it is possible to calculate the credit management parameters – such as credit limit. Using scoring systems to assess how much credit should be extended; new technologies reduce guesswork and the manual processing of making credit decisions – which, overall, mitigates risk. This scoring system allows for a more fluid management of credit reports and business information.
  • Improved Customer Service: An automated service accelerates the processing of credit-blocked sales orders. The aggregate of information needed to assess these details is quick and efficient allowing for faster decision-decision making, resulting in better customer service. A new credit management solution could also provide transparency in the case of credit-blocked sales, with the information online and reviewable, suppliers can provide fast and detailed explanations to customers.

Cedar Rose offer solutions for areas that traditionally haven’t had the progressiveness enjoyed by more developed economies.

The Cedar Rose Option
Cedar Rose reports include a visual CR Score for your company’s needs, to mitigate risks and provide an informed, detailed and comprehensive risk assessment, viewable in 1 second. The advanced AI technology adopted by Cedar Rose can help you make swift assessments for future investments. Not only is it informative, but it is responsive. Via API, you can gain 24/7 access without email or time delays, this visual tool can be added to your next report for enhanced elucidation. Operating in the MENA region, where information is scarce, as well as 150 other countries around the globe, Cedar Rose can simplify what would be, time-consuming business transactions and investigations.

Learn more about our CR score here.

Written By: Jack Evangelides, Marketing Assistant

Sourced Image: Pixabay

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***