Latest news with #MDP
Zawya
27-05-2025
- Business
- Zawya
MDP secures new Investment led by Lorax Capital and leading investors
Cairo, Egypt – MDP, a leading payments technology infrastructure group in the Middle East and Africa, is pleased to announce a new phase of growth following a strategic investment led by Lorax Capital Partners ('LCP'). The transaction marks the exit of long-time partner AfricInvest, whose support has been instrumental to the group's expansion in recent years. MDP delivers a fully integrated, one-stop-shop payments technology infrastructure ecosystem from card issuing, processing to cloud-native digital solutions through industry-leading developer platforms and embedded fintech capabilities to over 200 banks and 60 fintechs across Africa and the Middle East. To date, MDP has processed over 1 billion transactions and issued over 350 million cards and continues to support the region's financial inclusion and digital transformation efforts. The new investment, led by LCP, is backed by a consortium of global development financial institutions, including the European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), a member of the World Bank Group, and Proparco, subsidiary of the French AFD Group, focused on private sector development. Their involvement underscores a shared commitment to advancing financial infrastructure and digital innovation across the region. 'This investment marks a pivotal milestone in MDP's journey,' said Ahmed Nafie, Co-founder and CEO of MDP. 'We are proud of the robust platform and trusted reputation we've built across 40+ countries. With the backing of Lorax and a distinguished group of global institutional investors, we are well-positioned to accelerate our expansion, deepen our processing capabilities, and further scale our operations across Africa, the Middle East, and beyond. We also extend our sincere thanks to AfricInvest for their instrumental role in supporting our strategic growth and regional leadership.' This transaction marks the successful exit of AfricInvest, a leading pan-African private equity firm that has been a valuable partner in MDP's journey. Leveraging its extensive regional platform spanning 38 African countries, AfricInvest provided MDP with strategic guidance, operational support, and access to a network of key stakeholders in the financial services and fintech sectors. Throughout its investment, AfricInvest has driven operational enhancements, strategic partnerships, and value creation initiatives that have positioned MDP as a cornerstone in the region's fintech landscape. 'We believed in MDP's ability to pivot into payment processing and played a key role in transforming the company from a pure industrial player to a technology-driven leader. Today, MDP stands as a vital partner in Egypt's fintech and banking ecosystem, actively contributing to the country's financial inclusion strategy,' said Ismail Talbi, Senior Partner at AfricInvest. Skander Oueslati, Chief Investment Officer at AfricInvest, added, 'Our commitment to fostering regional connectivity and supporting portfolio companies in their pan-African expansion was a driving force in our partnership with MDP. We opened doors in sub-Saharan Africa, helping MDP to establish local partnerships and presence, paving the way for further growth'. Commenting on the partnership between MDP and the consortium, Mohamed Sadek, Managing Partner at LCP added 'We are excited to be backing MDP's founders in realizing their strategic vision of becoming the partner of choice for financial institutions across the region. We are confident that LCP and its highly experienced co-investors will play an important role during MDP's next phase of growth which will focus on further investments in technology, expanded product offering and geographic expansion.' About MDP: MDP is a leading card-issuing & digital processing platform. It enables businesses to roll out their financial solutions with end-to-end payment infrastructure offerings – from personalized card production to financial transaction processing and digital payment solutions. MDP empowers over 200 banks and 60 fintechs, supporting their growth with robust, scalable, and secure technology. With more than 30 years of market presence, MDP is acknowledged for accelerating payment experiences through a tech-driven approach. The company embraces the global adoption of innovative fintech solutions that provide seamless omni-channel customer experiences. Headquartered in Cairo, Egypt, MDP has an extended footprint in more than 40 countries globally. For further information on MDP, reach out to: Contactus@ About AfricInvest AfricInvest is a leading pan-African investment platform active in multiple alternative asset classes including private equity, venture capital, private credit, blended finance, and listed equities. Over the past thirty years, we have raised USD 2.3 billion to finance more than 230 companies at various development stages, delivering value and impact for our investors, portfolio companies, and the communities we serve. Our 100-strong team of investment experts in more than ten offices across three continents has a proven track record of providing attractive risk-adjusted returns while spurring productivity growth, creating jobs, and ultimately improving African lives through inclusive and sustainable development. For further information on AfricInvest, contact About Lorax Capital Partners Lorax Capital Partners ('LCP') is an Egypt-based private equity firm with a strong track record in growth investments and a team that has executed transactions worth over USD 46 billion. LCP brings deep expertise in the financial services sector in the Middle East and Africa, and partners with founders with long-term strategic vision and exceptional operational capabilities. For further information on LCP, contact info@
India Today
26-05-2025
- Business
- India Today
IIM Raipur launches 3 mini courses for aspiring managers. Sign up now
The Indian Institute of Management (IIM) Raipur, renowned for shaping future business leaders, is set to launch a dynamic series of Management Development Programmes (MDPs) in June 2025. Tailored for working professionals and senior executives, these programmes are designed to sharpen strategic thinking and enhance domain expertise across key areas of on high-impact areas like finance, machine learning, leadership, and marketing, the MDPs will be led by IIM Raipur's accomplished faculty. These sessions blend academic insight with real-world problem-solving, offering a practical and immersive learning experience aligned with evolving industry out the full list of all 53 programmes Commenting on the initiative, IIM Raipur Director Professor Ram Kumar Kakani said, 'In today's fast-changing business environment, where data is abundant and disruption is constant, organisations require leaders who are agile, analytical, and visionary. Our MDPs are not mere classroom sessions—they are transformational experiences. These programmes help bridge the critical skill gaps in areas like finance, leadership, and data intelligence, empowering participants to lead with clarity and purpose across sectors.' Participants can expect to engage in interactive case discussions, explore practical frameworks, and connect with experienced academicians. Whether you're in the corporate world or the public sector, these MDPs provide valuable tools and insights to lead effectively in today's competitive you're looking to stay ahead in your career and make a meaningful impact within your organisation, IIM Raipur's June 2025 MDP series is your opportunity to do so.
Yahoo
22-05-2025
- Business
- Yahoo
Colorado Ski Area Proposes Four New Lifts
Ski Cooper, a small Colorado mountain known for its affordable lift tickets and laid-back atmosphere, has wide-ranging plans for the its draft 2025 master development plan (MDP), which was first shared by Lift Blog, the ski area outlined numerous prospective upgrades, including the installation of four new lifts and one carpet Cooper's previous 1999 MDP proposed converting the 10th Mountain Double Chair, which delivers skiers from the ski area's base to its summit, into a 'convertible' of pursuing that plan, though, the new MDP describes building a separate fixed-grip quad lift that would run alongside the existing double. If the new lift is built, the double would serve as back-up during busy days or in the event that the quad breaks down. This 'will allow vastly greater efficiency in out-of-base transportation and will remove the strain from the double chair,' the MDP lift improvements to Ski Cooper's frontside area, detailed in the draft 2025 MDP, include replacing the Buckeye platter lift with a t-bar and the installation of a new, shorter conveyor lift to the south of the existing EZ Street Magic new, fixed-grip two-seater lift, dubbed the Sawmill, would add 250 acres of inbound intermediate and advanced terrain in the Chicago Ridge area. The fourth proposed lift, Hoyt's, is a second fixed-grip double that would travel up a meadowed slope and finish atop Cooper Hill, serving about 60 skiable acres geared predominantly towards intermediate to keep up with the best stories and photos in skiing? Subscribe to the new Powder To The People newsletter for weekly updates. The 77-page draft 2025 MDP also proposes the construction of a 12,000-square-foot addition to Ski Cooper's base lodge, a new 1,000-square-foot patrol headquarters at the top of Cooper Hill, and the replacement of the Ridgeview Café yurt with a permanent lodge, among numerous other Blog reports that Ski Cooper plans to submit the draft 2025 MDP to the Forest Service for acceptance in Ski Cooper's draft 2025 MDP doesn't do, even if the Forest Service accepts it, is guarantee that the projects that it describes will be started or completed. Instead, the proposed projects will still be subject to a review process under the National Environmental Policy Act (NEPA).The ski area is currently accepting public comments on the MDP. Vertical: 1,200 Terrain: 480 Snowfall: 260 5Trails: 64Snowmaking: NOMega-Pass: NO
Yahoo
16-05-2025
- Business
- Yahoo
Arapahoe Basin's Proposal To Build Two Gondolas Is Turning Heads
A surprising press release hit my inbox earlier this morning, May 16, 2025. The subject read, "A-Basin Master Development Plan", and the contents of the 122-page document that was attached had my head spinning. Arapahoe Basin Ski Area, the once independently-owned, expert-oriented haunt has big plans for expansion under new owner Alterra Mountain 122-page document covers a laundry list of subjects, but the lift expansions, upgrades, and new terrain will be of most interest to skiers and snowboarders. We'll dive a bit deeper later in the article, but here are the major proposals we've gleaned from A-Basin's ambitious Master Development Plan:1. Arapahoe Basin wants to build not one, but two gondolas in the near future. One gondola will serve the parking lots and replace the ski area's parking shuttle system. Another gondola will transport guests from the base area to base of the new beginner area.2. Construction of a new detachable chairlift called that will access a new beginner learning area called located adjacent to the current trail.3. Construction of a new groomed trail in .4. A new skier services hub to be constructed at the new beginner area.5. Optimization of current parking lots and construction of two new parking to keep up with the best stories and photos in skiing? Subscribe to the new Powder To The People newsletter for weekly updates. Arapahoe Basin has big ambitions in their Master Development Plan, but a spokesperson from the ski area clarified the intention of releasing the Plan as is. "The MDP offers us a path forward but does not guarantee anything. The idea behind MDPs is to provide the USFS with any potential project we would be interested in doing in the coming years to benefit the ski area in one big proposal," says Shayna Silverman of Arapahoe Basin. "If the USFS accepts this plan, then each project must go through NEPA. If projects are accepted by the USFS and approved by NEPA, only then it's up to us on what projects we move forward with and when."Along with the highlighted proposals listed above, Arapahoe Basin wants to increase its snowmaking capacity by 65 acres. Bolstering snowmaking capabilities in Montezuma Bowl, on the Loafer and Davis runs in The Beavers, and on the Humbug, West Gully, Upper Wrangler, Shooting Gallery, and Grizzly Road runs on the frontside of the mountain. Snowmaking will also be constructed for the new Sawmill Flats beginner Master Development Plan also mentions installing remote avalanche systems along the East Wall and within Montezuma Bowl. These devices would replace the mountain's current avalauncher systems that resemble military will continue to keep tabs on Arapahoe Basin's Master Development Plan as progress is made. At this point, there is no stated timeframe for when the new lifts, runs, or snowmaking will be constructed. We will keep you updated if and when those timeframes are disclosed.
Sky News AU
07-05-2025
- Business
- Sky News AU
Macquarie Bank repeated compliance 'failings' after facing record fine, ASIC's commissioner Simone Constant declares
The corporate watchdog is cracking down on a major bank for an array of 'repeated failings' regarding compliance issues, with some occurring after the bank was hit with a $5m fine in September. The Australian Securities and Investments Commission on Wednesday took aim at Macquarie Group for major compliance failures. ASIC has intervened with Macquarie over its futures dealing business and its over-the-counter derivatives trading – which are trades done outside of an exchange. The watchdog said Macquarie had failed to stop at least 11 suspicious orders being placed in the futures market, one dating back to over a decade ago. ASIC also identified nine "market conduct matters of concern" in just the past 18 months. The watchdog's commissioner Simone Constant told Sky News' Business Now there were common causes for an array of failings across the major bank. 'There's been some repeated failings and when we think about the failings that we're addressing in these license conditions, another concern is there are common root causes,' Ms Constant said. 'While some are in the ASX 24 futures market and some are in terms of OTC products, root causes seem to be common.' She noted Macquarie had committed repeated failings after it was fined $5m for failing to prevent suspicious orders being placed on the electricity futures market. This was the highest penalty ever imposed by ASIC's Markets Disciplinary Panel (MDP). 'Something that concerned us was even when their attention was drawn to this area of concern and there was… an MDP outcome last year, there actually was repeated failing,' Ms Constant said. 'So it failed again. "Responsibilities of gatekeepers, responsibilities of such significant and of successful organisations in markets like Macquarie and responsibilities for reporting, so that we can understand what's going on in markets in terms of integrity and where the risk is, these are really important responsibilities.' Macquarie will now be forced to identify the root cause of its failures in a remediation plan. It will also have to appoint an independent expert to review Macquarie Bank's plan and address its failures and prevent them happening in the future. Macquarie Bank said it took its role as a licensed entity 'extremely seriously' and would cooperate with the investigation. 'In addition to working constructively with ASIC on these remediation activities, MBL continues to invest in a broader range of existing programs to strengthen its systems, controls and supervisory arrangements,' the bank said in a statement.
