Latest news with #SMEs
Zawya
2 hours ago
- Business
- Zawya
Oman: Dialogue session calls for supporting SMEs financially
MUSCAT: The Small and Medium Enterprises Development Authority (SMEDA) held its thirteenth dialogue session on enhancing opportunities for small and medium enterprises (SMEs) in the financial services sector. Abdullah bin Salem al Salmi, Chairman of the Financial Services Authority, presided over the event. As part of the authority's efforts to partner and integrate with relevant entities and improve the business environment and its attractiveness to SMEs, a dialogue session was held on the financial services sector and related activities. Al Salmi said: "It is very important to have dialogue and consultation between institutions and beneficiaries of these sessions. We heard many challenges, questions and inquiries from entrepreneurs, many of which are solvable and we encourage entrepreneurs to participate in such sessions. Among the issues we addressed were that SMEs need funding, support and assistance in matters related to managing the enterprises until they reach a level that enables them to survive during the first three or four years. They require attention from all of us, to help and embrace them so that they can continue in their business." The session aimed to boost the role of SMEs in developing financial services by presenting innovative ideas and improving operational efficiency, encouraging government and private partnerships and cooperation with SMEs, and raising awareness of the importance of the sector as a vital component of supporting the national economy. The session included several topics, including policies, legislation, licences and enablers that support SMEs in developing innovative solutions and partnerships in the financial services sector. Financial support is one of the most important factors for the success of SMEs and startups. Recent efforts have contributed to providing various support factors for the growth of entrepreneurial activities. According to the authority's latest statistics, there are 150,601 SMEs registered in the authority's database, including 131,315 micro-enterprises, 18,222 small enterprises, and 1,064 medium enterprises. Of these, 27,724 have obtained an Entrepreneurship Card. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Zawya
4 hours ago
- Business
- Zawya
PAObank Appoints Mr. Ronald Iu as Chief Executive and Executive Director
HONG KONG SAR - Media OutReach Newswire - 30 May 2025 - PAO Bank Limited ("PAObank") announces the appointment of Mr. Ronald Iu as Chief Executive and Executive Director of the Board. Mr. Iu will lead the management team of PAObank to further leverage advanced financial technology, expanding our presence in small and medium-sized enterprises ("SMEs") and retail banking, thereby creating greater value for our customers. Mr. Iu has over 20 years of solid experience in banking and finance. He held various leadership positions in global and local financial institutions, including China CITIC Bank International, Standard Chartered, PrimeCredit and GE Capital (HK). Prior to joining PAObank, Mr. Iu served as the Chief Executive of Airstar Bank and ZA Bank. His extensive experience spanning business management and strategies, risk management and product innovation has given him a deep understanding of customer needs and market trends, bringing unique insights and substantial experience in the development of digital banks. Mr. Ronald Iu said, "I look forward to working together with the management team and colleagues at PAObank to create better products and user experience for SMEs and individual customers. As PAObank marks its fifth year, we are embarking on the next phase of our business direction and strategy, placing more emphasis on retail banking services. PAObank strives to become 'the convenient wealth management digital bank' in everyone's mind, offering innovative financial solutions that are efficient, hassle-free and flexible. While continuing to offer competitive deposit interest rates as part of client rewards, we will expand into diversified financial services and products to fully develop our retail banking capabilities. Together with my team, we will continue to drive innovation to lead PAObank towards the next milestone." Looking ahead, PAObank will continue to be the reliable business partner of SMEs, and create better retail banking products and user experience for customers. By leveraging financial technology and ongoing innovation, PAObank will continue to support the development of digital banks in Hong Kong, serving customers in Hong Kong and the Greater Bay Area. Hashtag: #PAObank #Appointment The issuer is solely responsible for the content of this announcement. PAO Bank Limited PAO Bank Limited ("PAObank"), a wholly-owned subsidiary of Lufax Holding Ltd ("Lufax") (SEHK: 6623; NYSE: LU) and a member of Ping An Insurance (Group) Company of China, Ltd. ("Ping An") (SEHK: 2318; SSE: 601318), is committed to fostering financial inclusion and establishing a digital banking ecosystem by leveraging its extensive experience in SME banking services and its leading financial technology advantages. PAObank was granted a banking licence by the Hong Kong Monetary Authority in May 2019 to offer banking services via virtual channels. PAObank is expanding diverse business segments including retail banking and SME banking. PAO Bank
Malay Mail
5 hours ago
- Business
- Malay Mail
PAObank Appoints Mr. Ronald Iu as Chief Executive and Executive Director
HONG KONG SAR - Media OutReach Newswire - 30 May 2025 - PAO Bank Limited ("PAObank") announces the appointment of Mr. Ronald Iu as Chief Executive and Executive Director of the Board. Mr. Iu will lead the management team of PAObank to further leverage advanced financial technology, expanding our presence in small and medium-sized enterprises ("SMEs") and retail banking, thereby creating greater value for our Iu has over 20 years of solid experience in banking and finance. He held various leadership positions in global and local financial institutions, including China CITIC Bank International, Standard Chartered, PrimeCredit and GE Capital (HK). Prior to joining PAObank, Mr. Iu served as the Chief Executive of Airstar Bank and ZA Bank. His extensive experience spanning business management and strategies, risk management and product innovation has given him a deep understanding of customer needs and market trends, bringing unique insights and substantial experience in the development of digital "I look forward to working together with the management team and colleagues at PAObank to create better products and user experience for SMEs and individual customers. As PAObank marks its fifth year, we are embarking on the next phase of our business direction and strategy, placing more emphasis on retail banking services. PAObank strives to become 'the convenient wealth management digital bank' in everyone's mind, offering innovative financial solutions that are efficient, hassle-free and flexible. While continuing to offer competitive deposit interest rates as part of client rewards, we will expand into diversified financial services and products to fully develop our retail banking capabilities. Together with my team, we will continue to drive innovation to lead PAObank towards the next milestone."Looking ahead, PAObank will continue to be the reliable business partner of SMEs, and create better retail banking products and user experience for customers. By leveraging financial technology and ongoing innovation, PAObank will continue to support the development of digital banks in Hong Kong, serving customers in Hong Kong and the Greater Bay #PAObank #Appointment The issuer is solely responsible for the content of this announcement. PAO Bank Limited PAO Bank Limited ("PAObank"), a wholly-owned subsidiary of Lufax Holding Ltd ("Lufax") (SEHK: 6623; NYSE: LU) and a member of Ping An Insurance (Group) Company of China, Ltd. ("Ping An") (SEHK: 2318; SSE: 601318), is committed to fostering financial inclusion and establishing a digital banking ecosystem by leveraging its extensive experience in SME banking services and its leading financial technology advantages. PAObank was granted a banking licence by the Hong Kong Monetary Authority in May 2019 to offer banking services via virtual channels. PAObank is expanding diverse business segments including retail banking and SME banking.
Zawya
a day ago
- Business
- Zawya
Smooth business handovers: A survival guide for South Africa's entrepreneurs
In today's dynamic business environment, leadership transitions are inevitable. Whether due to a c-suite reshuffle, a merger, or an acquisition by a larger group, periods of transition can be destabilising for businesses of any size. In fact, research based on over 40,000 corporate acquisitions spanning over four decades has shown that 70% of mergers and acquisitions fail to fulfil their expectations. Amogelang Montane, human resources business partner at Business Partners Limited Amogelang Montane, human resources business partner at Business Partners Limited, believes that effective leadership is at the heart of any successful business transition. 'Any big change, when not managed properly, can result in operational inefficiencies, employee uncertainty, and even a knock to revenue. However, many of these results are often avoidable, and with a well-planned handover strategy, it's possible for your business to make it through these times of uncertainty.' While any change in leadership can be challenging to manage, Montane notes that mergers and acquisitions require particularly careful consideration – especially when a smaller business is being acquired by a larger company or corporation. 'When a business merges with another or is acquired by a larger group, the shift in company culture, operational processes, and management structures can cause significant disruption to the 'norm' employees have become used to. Small and medium enterprises (SMEs), in particular, may struggle to integrate into a larger corporate framework without a clear roadmap.' Montane lists four key considerations for entrepreneurs to ensure business continuity during these types of transitionary periods. - Clear communication Transparent communication with employees, customers, and other key stakeholders is vital. 'Ensuring that all parties are kept up to date about changes and their implications will help manage expectations and reduce uncertainty across the organisation,' says Montane. - Strategic planning A comprehensive transition strategy should be in place before any major leadership or structural change. This includes clear succession planning, especially for family-owned businesses and founder-led SMEs, notes Montane. 'These smaller, tight-knit businesses often face challenges when ownership or leadership is transferred. Without a structured succession plan, conflicts may arise, threatening the business's continuity,' he explains. - Talent retention It's estimated that 47% of key employees leave within the first year following a merger or acquisition, and 75% leave within the first three years. 'This is why keeping employees motivated and aligned with the company's vision during a transition is one of the greatest human resources responsibilities in a merger. The loss of talent after an acquisition can be so significant that it erodes value from the transaction,' says Montane. He adds that conducting due diligence around culture and operational processes is also critical when merging two organisations. 'While HR is responsible for supporting employees on a day-to-day basis, it is up to the leadership team to provide reassurance, guidance, and opportunities for professional growth to retain key talent.' - Financial stability Ensuring access to capital during periods of transition can help businesses to persevere through potential financial instability. 'As a financier to SMEs, we have seen first-hand how well-planned transitions supported by the right funding can ensure business continuity,' adds Montane. While leadership transitions can be daunting, they also present an opportunity for businesses to evolve and strengthen their competitive position. By implementing a structured approach, SMEs can mitigate risks and emerge stronger on the other side of change. 'As South Africa's SME sector continues to grow and evolve, businesses must embrace change as a constant. With the right leadership and strategic planning in place, transitions can be transformed into catalysts for success,' concludes Montane.
Malay Mail
a day ago
- Business
- Malay Mail
Makiplago unveils mega pavilion for MIHAS 2025 to connect halal SMEs with global markets
PETALING JAYA, May 29 — The Malaysia International Halal Showcase (MIHAS) 2025 will feature the largest-ever pavilion dedicated to connecting Malaysia's halal small and medium enterprises (SMEs) with international markets. Makiplago Sdn Bhd, the driving force behind this initiative, unveiled the Makiplago Pavilion during a soft launch ceremony today, in collaboration with key stakeholders and strategic partners. The event, held in anticipation of MIHAS 2025, showcased Makiplago's vision for an innovative trade ecosystem anchored by its Makiplago Harbour platform. Among the attendees were Malaysia External Trade Development Corporation (MATRADE) exports promotion and market access division director Yusram Yusup, alongside industry leaders. Makiplago founder and chief executive officer Jamaluddin Ibrahim said the pavilion aims to strengthen links between Malaysia's halal SMEs and international markets, particularly in China and Asean. 'The Makiplago Harbour International Pavilion will be the largest at MIHAS 2025, spanning over 1,240 square meters with more than 170 exhibitors. We aim for 50 per cent local participation and the rest from international exhibitors across Singapore, Indonesia, Thailand, the Philippines, Brunei, East Timor, and Papua New Guinea,' Jamaluddin said. The pavilion's design is based on five strategic pillars: • Port Klang trade base • Physical shopping malls and omni-channel retail • Halal chain convenience stores (M-Mart and Oriental-Mart) • Media, digital finance, and tokenisation via Makiplago Harbour Coin (MHC) • Wellness, elderly care, and halal lifestyle services During the event, Makiplago signed a memorandum of understanding with six foundational partners: Yayasan Gostrong Malaysia, Ancom Nylex Berhad, Delta Consult Ing Services Sdn Bhd, Glocal Link (M) Sdn Bhd, Asia Management & Consultancy Sdn Bhd, and Makiplago Sdn Bhd. The partnership aims to foster investment, procurement, and joint development in halal sector infrastructure, commerce, education, media, and wellness. The Makiplago Pavilion seeks to empower SMEs from Malaysia and China by providing direct access to over 2.2 billion Muslim consumers globally. This will be supported by initiatives such as live commerce via Radio Durian, curated halal products for M-Mart and Oriental-Mart, strategic investor engagement, and innovative digital finance solutions ensuring secure transactions. MIHAS 2025 is set to take place in September, marking another milestone in Malaysia's leadership within the global halal industry.
