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Tracking Technology to Save Global Aviation $3b

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  • Tracking Technology to Save Global Aviation $3b

The deployment of Radio Frequency Identification (RFID) technology would enable the global air transport industry save more than $3 billion in the next seven years, it was learnt.

The deployment of the technology could accurately track passengers’ baggage in real time across key points during the course of the journey.

Global information technology provider, SITA and the International Air Transport Association (IATA) say accurate tracking rates of RFID technology could reduce the number of mishandled bags by up to 25 per cent by 2022.

The technology also supports IATA’s Resolution 753, which requires airlines by 2018 to keep track of passengers’ baggage.

The deployment of RFID would build on the already significant savings delivered by the smart use of technology for baggage management.

Investigations reveal that some big airlines and airports are already introducing RFID technology, an initiative experts say could provide positive return for airlines, both in cost savings and passenger satisfaction.

SITA’s and IATA’s assumptions are based on RFID being deployed in 722 airports.

The 722 airports investigations reveal represents about 95 per cent of passenger numbers globally over the next six years.

The figures for the year take into account the RFID infrastructure already deployed or about to be deployed at multiple induction points on the baggage journey.

SITA’s research into RFID and baggage tracking is part of its ongoing investment in research for the benefit of the entire air transport community.

Baggage tracking is one of the five community research programs that SITA has launched to address some of the industry’s most pressing challenges.

The others are identity management of the future, the facilitation of IATA’s New Distribution Capability (NDC, an industry-wide disruption warning system, and enhancing cybersecurity across the industry.

The SITA/IATA business case, investigations revealed outlines how this will provide a major saving for airlines and deliver more certainty for passengers.

Investigations also reveal that initial deployment of RFID by airlines, such as Delta Air Lines, show a 99 per cent success rate for tracking bags.

In particular, RFID will address mishandling during transfer from one flight to another, one of the key areas identified by SITA and IATA where the technology could help improve baggage handling rates.

It was learnt that RFID technology will ensure that airports, airlines and ground handlers are able to keep track of bags at every step of the journey and ensure the right bag is loaded onto the correct flight.

According to the SITA Baggage Report 2016, technology has helped reduce the number of mishandled bags by 50percent from a record 46.9 million mishandled bags in 2007, saving the industry $22.4 billion.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Bolt Bags €20 Million From World Bank’s IFC to Expand Operations in Emerging Economies

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Bolt, the leading European mobility platform, announced new funding of €20 million received from World Bank’s IFC.

“We’re delighted to announce that we’ve received €20 million in funding from the International Finance Corporation (IFC), a member of the World Bank Group”, Bolt said.

The investment came less than three months after the Estonian company raised €150 million in a round led by D1 Capital Partners.

Through this investment, Bolt will continue to develop mobility solutions that create earning opportunities, stimulate entrepreneurship and improve access to transportation in emerging economies. One of the shared goals of Bolt and the IFC is to empower women and improve their access to mobility.

According to Stephanie von Friedeburg, IFC Senior Vice President of Operations,  “Technology can and should unlock new pathways for sustainable development and women’s empowerment.”

“Our investment in Bolt aims to help tap into technology to disrupt the transport sector in a way that is good for the environment, creates more flexible work opportunities for women, and provides safer and more affordable transportation access in emerging markets.”

Recently, Bolt introduced a women-only ride-type in South Africa for her customers to address safety needs, enable women passengers to connect with women drivers, improve women’s mobility and access to earning opportunities.

Markus Villig, CEO of Bolt, said the goal of the company and its partnership with IFC is to Provide strategic value to emerging economies

“We are looking forward to partnering with IFC to further support entrepreneurship, empower women and increase access to affordable mobility services in Africa and Eastern Europe.

“Together with the investment from the European Investment Bank last year, we are proud to have sizable and strategically important institutions backing us and recognising the strategic value Bolt is providing to emerging economies.”

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Crowdyvest Attracts New Investors and Appoints Tope Omotolani as CEO

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Crowdyvest Limited, an impact-driven fintech platform, launched in 2019 by Onyeka Akumah and four other Co-Founders has today announced a big change in its leadership and additional investment in the company, in a bid to scale up as a digital savings company.

Crowdyvest was created to provide all-in-one financial solutions for individuals and businesses to achieve short or long-term goals while facilitating impactful growth in line with the United Nations 17 Sustainable Development Goals. The Fintech company went live in beta-stage in August 2019 but launched fully as a crowdfunding platform in January 2020 where its users and sponsors can sponsor high-impact opportunities that yield good benefits through its pooled sponsorships and individual projects.

Today, however, the company announced Onyeka Akumah will officially step down as the CEO of Crowdyvest and Tope Omotolani who is currently the Managing Director and also a co-founder, will become the new Chief Executive Officer of the startup, effective immediately. Notwithstanding this change in leadership, all the management and staff of Crowdyvest will be retained. And as a result of the new investment in Crowdyvest, the fintech startup will completely exit the EMFATO Holdings group and also transition from its previous crowdfunding model to making strides as the go-to digital wealth management and savings platform under Tope’s leadership.

Onyeka Akumah speaking on this development said, “I have taken this decision to step down as the CEO of Crowdyvest as a result of the new investment in the company which gives it good footing for scale. Today, Crowdyvest is exiting fully from EMFATO Holdings and we are very happy about the new investors led by Tope, and excited to see how Tope will lead this business to new heights. I will now focus more on leading Farmcrowdy and Plentywaka as CEO of both companies into new markets in 2021. Tope is a strong and amazing leader and I see her leading Crowdyvest to become one of the leading wealth management companies in Nigeria within the next 3-5 years. I wish her and the team all the best and will continue to advise them on their journey when needed’’.

The new CEO, Tope Omotolani also said, “It’s an honor and a privilege for me to be able to lead the team to the next level and next chapter of the business. Onyeka founded this company on the ethos of integrity and strong customer satisfaction and I’m grateful for the opportunity to continue to lead this technology company into it’s next chapter. Our major goal and focus as Crowdyvest is that we see a lot of people become financially free and we’re able to do this by the products that we create on the platform”.

The emergence of female leaders has become a centrifugal force for good in the world and many organisations. For the first time, we’re seeing examples of female leaders emerging from across the generations to cross-weave their knowledge and drive for change and Crowdyvest is joining the wave of change having a Female Leader and CEO.

Crowdyvest is today launching the Crowdyvest Savings Platform to give savings options to over 10,000 subscribed members on it’s platform. This savings platform will give its members a variety of plans to help build a savings culture based entirely on their pace, so they can reach their life goals faster.

This savings platform has four products that are properly tailored to fit all categories of individuals, including the Millenials, Gen Z, Gen X, and Baby Boomers, and each of these products have their unique features and benefits. They are;

Flex Savings which speaks to our young and trendy Gen Zs and Millenials, gives them the opportunity to save as much as they like with the option of withdrawing their money at any time during the year with a withdrawal fee of 2%. The Flex savers also have the opportunity of 7 official withdrawal days which comes without a withdrawal fee.

Vault Savings here, users have the opportunity to safely deposit money into their vaults and lock it for a period of time (3 months, 6 months, or for years). Funds deposited in the vault will be locked and ineligible for withdrawal throughout the locked period. The vault savings is for long-term savings and is targeted at pensioners, trust funds savings, legacy savings, etc.

Pace Savings, savers have the opportunity to deposit money as they wish for a set target. The pace savings option is recurring starting with the least period of 3 months. The money can be deposited automatically into the plan or manually based on the saver’s preference. The plan is targeted at salary earners, entrepreneurs, etc.

Flex Dollar Savings gives savers the opportunity to save and earn returns in dollars. Crowdyvest Members have the opportunity to grow their savings in a more valuable & stable denomination.

Every saver enjoys the benefits of good interest rates from 12.5% to 15%, zero bank charges, plans tailored for everyone, and effective and prompt customer service. We also have referral opportunities where you can earn as much as NGN 1000 for every person you refer to Crowdyvest. For more information, visit the Crowdyvest website.

Previously as a crowdfunding platform, Crowdyvest was able to create an impact by funding 24 projects across various sectors including Agriculture, Real Estate, Transportation, etc, has worked with 9 project partners, has operated in 17 states with over 10,000+ active sponsors, over 90,000+ total users, and over 8,000 Monthly Active Users. Today, the company is a Digital Savings platform with closed membership, Crowdyvest will provide financial solutions for her community of individuals and organizations that are committed to long-term growth and financial freedom.

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FirstWave Signs Level 1 Partner Agreement with pan-African technology company Moja Access

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Neil Pollock, CEO, FirstWave Cloud Technology - investorsking.com

Leading Australian-headquartered, global, cybersecurity-as-a-service company, FirstWave Cloud Technology Limited (ASX: FCT) (FirstWave), is pleased to announce the signing of a three-year Level 1 Partner Agreement with Moja Access, part of CSquared Group (www.csquared.com), a pan-African technology company.

Moja Access is the Kenya-based operating company of CSquared, a joint venture between Google LLC, Japan-based Mitsui & Co, investment firm Convergence Partners, and the International Finance Corporation (IFC, part of the World Bank Group), with the goal to make commercially driven investments to improve and increase connectivity and internet access in Sub-Saharan Africa.

CSquared currently operates fibre and last mile WiFi networks in several cities across Kenya, Uganda, Ghana and Liberia, with over 40 mobile operators and internet service providers relying on its infrastructure for serving mobile consumers and corporate customers. These four African nations had over 10 million Micro, Small & Medium Enterprises (MSMEs) and over 70 million internet users at the end of 2020.

In the initial phase of this partnership, FirstWave has deployed its recently launched FirstCloud™ WebProtect DNS platform for each of CSquared’s four territories for use by CSquared’s operating companies and Level 2 partners. CSquared’s operating companies’ partners and their end-customers will get the web security solution as part of their internet service on an “opt-out” basis.

As a consequence, revenue generation will commence immediately, and end-customers can ‘opt-out’ if, for any reason, they decide they do not want the service. Moja Access is currently in conversations with customers for uptake of this service.

The Partnership Agreement is for a 3-year term with rolling 6-month extension options thereafter and in keeping with FirstWave’s unique service proposition – democratising enterprise-grade cybersecurity-as-aservice – the vast number of MSMEs and Internet users across these 4 African nations can now be protected on CSquared’s network from cyber intruders, on a consumption basis, at an affordable monthly price.

FirstWave’s business head for EMEA & North America region, Sundar Bharadwaj, said, “CSquared Group’s Kenya-based entity Moja Access is a truly innovative partner for FirstWave in Sub-Saharan Africa with excellent credentials with its Telco and ISP client base. We look forward to expanding the reach for our Enterprise-grade cybersecurity solutions to small and large end-customers through this partnership.”

Lanre Kolade, Group CEO of CSquared, said, “We are very excited to have signed this partnership with FirstWave. Our clients, including Telcos and Internet Service Providers, will benefit from FirstWave’s differentiated SaaS products. It will allow us to rapidly deploy and sell on a consumption based monthly pricing model, enterprise grade cybersecurity services to all our clients and their end-customers, large and small.”

FirstWave’s CEO, Neil Pollock, said, “I’m delighted to welcome CSquared Group’s Moja Access as our 8th Level 1 partner and see initial revenues already flowing from the partnership. CSquared is a fast-growing pan-African service provider backed by two large global corporations Google LLC and Mitsui & Co. CSquared already delivers robust fibre connectivity and internet access to thousands of end-customers via its 40+ mobile operator and ISP clients. With revenues already delivered, the partnership has had a really positive start.”

This announcement has been approved for release by the Board of Directors.

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