Cisco invests $ 10 million in Egypt based Algebra Ventures
NEWS
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 .
8 INTELLIGENTCIO www . intelligentcio . com