Cisco invests $ 10 million in Egypt based Algebra Ventures
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Fluentgrid to implement IFS Applications 9 at Rwanda’ s power utility
IFS, the global enterprise applications company, announced that the Energy Utility Corporation, a subsidiary company of the Rwanda Energy Group, has chosen to implement IFS Applications 9 for enhanced corporate governance and improved operational performance. The agreement includes licenses and services valued at approximately $ 1.2 million.
The Rwandan energy sector is in its second phase of reforms whereby the country’ s electrical infrastructure will be upgraded and expanded. As one of the entities spearheading this initiative, Energy Utility Corporation needed to invest in a comprehensive and fully integrated ERP system to achieve enhanced operational efficiency and offer improved customer service.
Following an extensive evaluation process, Energy Utility Corporation chose IFS Applications based on its quick deployment process and post implementation support. The IFS solution will support mission-critical business processes such as financials,
The Rwandan energy sector is in its second phase of reforms whereby the country’ s electrical infrastructure will be upgraded and expanded.
payroll, supply chain management, human resources, and project management.
The solution will be implemented in an integrated manner with other commercially supportive systems offered by IFS partner Fluentgrid operating in a consortium
The Energy Utility Corporation Limited also upgraded its pre-paid cash power meter system beginning in August 2016, to help improve efficiency and customer service. The two-week exercise saw the Utility Company upgrade its back-end system with the aim of having a reliable and modern database.
The upgrade was a proactive measure to ensure efficiency and effectiveness in addressing customers’ needs and in ensuring that their database was relevant. This, he said, was part of a greater plan to develop and operationalise a geographic information system which would contain client’ s details improving service delivery.
Cisco invests $ 10 million in Egypt based Algebra Ventures
The announcement marks another key milestone in Cisco’ s commitment to contributing to economic development in Egypt. Since opening Cisco offices in Egypt in 1999, it has hired almost 80 employees and focused on building knowledge and skills through a network of close to 300 local partners. In turn, partners have hired thousands of professionals in the ICT infrastructure space who are now global experts as a result of working and partnering with Cisco.
Recently, the Minister of Communications and Information Technology nominated Cisco’ s Managing Director in Egypt, Ayman Elgohary, to be a non-executive board member in the Chamber of Information Technology.
In addition, through the Cisco Networking Academy, Cisco’ s flagship IT education programme in corporate social responsibility which was launched in December 1999 in Egypt, Cisco has
Ayman Elgohary, Managing Director for Cisco Egypt and Libya.
invested an in-kind contribution of over $ 21.9 million and successfully educated 73,934 students, of which 35 % are female. Currently, there are 89 Cisco Networking Academies in Egypt.
Algebra Ventures is managed by three partners with significant investment and operational experience in Egypt. Prior to Algebra, the partners have collectively invested in successful startups in Egypt, managed over 30 venture capital and angel investments and realised some of the country’ s most prominent technology exits, such as Fawry, exited at a $ 100 million valuation, and SysDSoft, acquired by Intel.
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