E-Financial
Schneider Electric’s EcoStruxure™ Platform Teams Up with AVEVA’s Digital Transformation Solutions Proven to Drive Industrial Sustainability Initiatives
Schneider Electric, the leader in the digital transformation of energy management and automation, and AVEVA, a global leader in industrial software, driving digital transformation and sustainability, announced today that their combined technology offerings are supporting the sustainability initiatives of mining companies in four key pillars: energy efficiency, yield improvement, low greenhouse emission technology adoption, and new green processes.
Global decarbonizationis heavily reliant on the sustainable production of minerals and commodities. A thriving and healthy mining and metals sector is crucial for the global economy and to support the innovation of new technologies and materials needed for climate change reduction, environment protection, and the circular economy.
Schneider Electric and AVEVA are providing the tools required by organizations to make informed decisions that will empower people across the mining, minerals, and metals value chains to be more strategic in their choices based on sound advice with sustainability in mind.
They are assisting operators and managers in these choices leaving these organizations well positioned to tackle some of the challenges associated with adopting sustainable practices, potentially resulting in reduced operating costs and thus providing the rare ability of appeasing all stakeholders.
According to an IDC Technology Spotlight, sponsored by AVEVA and Schneider Electric, Transitioning to Sustainable Mining, Minerals and Metals Practices, the top three market pressures driving the sustainability agendas of mining and metals organizations are:
- Need to improve brand equity
- Reduce the risk of an adverse event
- Ensure compliance with current and future regulations
Ben Kirkwood, Senior Research Manager, IDC Energy Insights – WW Mining.
“Technology has a critical role to play in supporting mining companies,” said Ben Kirkwood, Senior Research Manager, IDC Energy Insights – WW Mining.
“Efforts to hitsustainability targets and gain greater visibility and control over operations will enable corporate insight and action relating to energy, water usage, and management of the operational environment. IDC’s global analysis of the revenue growth and profitability of industrial companiesshows that those with a committed and ongoing sustainability-based strategy combined with a long-term, funded, digital transformation agenda considerablyoutperformtheir competitors.”
Digitalization Underpins Mining and Metals Sustainability
The IDC Technology Spotlightalso reinforces the fact that as the industry continues to experience backlash from its perceived stagnant position on sustainability, platforms with added analytics are enabling improved operational efficiencies while enhancing the visibility of the changes being made.
David Willick, VP North America, Mining, Minerals and Metals Segment, Schneider Electric
“Digitally integrated operations can address key areas of an organization’s sustainability agenda by combining power and process intelligence and controls,” said David Willick, VP North America, Mining, Minerals and Metals Segment, Schneider Electric.
“Digitalization is a critical evolution for the resources industry, and Schneider Electric and AVEVA are uniquely qualified to help. We are experts at marshalling the power of connected systems and human insight to bring operational performance to its highest level.Together, we have won the trust of the world’s leading companies with thousands of implementations onsite and in the cloud. Today our joint customers can benefit from ourshared customer-centric innovation culture, unmatched R&D capabilities,and extensive sector-specific expertise.”
Martin Provencher, Industry Principal, Mining, Metals and Materials, AVEVA.
“Although the benefits of digital transformation are crystal clear, the mining industry has thus far been limited by legacy infrastructure, data inadequacies, and piecemeal optimization programs,” said Martin Provencher, Industry Principal, Mining, Metals and Materials, AVEVA.
“Increasingly virulent cyberattacks and a growing mandate for decarbonized minerals have further emphasized the importance of having high data availability and embracing a secure, cloud-first approach to visualize and contextualize enterprise-wide processes across global operations. The combination of Schneider Electric’s energy management solutions, automation systems and services, and AVEVA’s Digital Mining Transformation solutions enableour customers to transform conventional mining operations into intelligent, resilient and sustainable undertakings.”
Corporate Knights recently named Schneider Electricthe world’s most sustainable company. According to the IDC Technology Spotlight, Schneider Electric’s EcoStruxure platform combined with AVEVA’s Digital Mining and Metals Transformation solutions can provide the operational and organizational insight required to make sustainable operations and improved decisions through the collection and analysis of data.
The partner companies aim to decarbonize the mining, minerals and metals value chains through the provision of an industrial IoT platform with technology and software elements supporting the capability for energy management and
Titan Trust Bank has selected Oracle FSS for its core and digital banking technology, it is understood.
The start-up bank recently obtained its license by the Central Bank of Nigeria (CBN).
It’s understood that Temenos and Infosys also competed for the deal.
The shortlist came down to the two most widely installed international core systems in Nigeria, Infosys’ Finacle and Oracle FSS’s Flexcube.
The Nigerian banking sector has seen a great deal of upheaval over the years, with many mergers, start-ups and closures. Flexcube is a well respected name since the late 1990s (the pioneer was Access Bank, now one of the country’s top five banks) and has been a commonly selected platform since then.
The new bank is believed to be one of five to have gained regulatory approval of late (Globus Bank is another).
Local media sources say the new licences stem from the Central Bank’s desire to attract new investments into the sector and better serve the country’s 50 million+ unbanked and under-banked citizens.
Titan Bank is said to be headed by a former executive director of Heritage Bank (which is a Finacle user).
Oracle FSS did not respond to request for comment.
International Monetary Fund (IMF), has appointed Tony Elumelu, Nigerian billionaire and group chairman of Heirs Holdings, owners of United Bank of Africa, to its advisory council on entrepreneurship and growth, convened by Kristalina Georgieva, the fund managing director.
The announcement was disclosed in a statement on Friday.
According to the statement, the IMF advisory council comprises global business leaders, policymakers, and academics dedicated to identifying and addressing regulatory barriers to entrepreneurship.
The IMF said Elumelu will be instrumental in ensuring that Africa’s entrepreneurship is central in policy making.
“Elumelu, Africa’s leading advocate of entrepreneurship and whose Foundation has funded, mentored, and trained over 25,000 African entrepreneurs since 2015, champions entrepreneurship as the engine for the economic transformation of Africa,” the statement reads.
“A self-made entrepreneur, Elumelu’s embracing of entrepreneurship is fundamental to his concept of Africapitalism, his belief that Africa’s private sector can and must play a leading role in the continent’s development, making long-term investments that deliver social and economic value.
“Elumelu will be instrumental in ensuring that Africa’s entrepreneurial potential is central to global economic policy making.”
Speaking at the inaugural meeting of the advisory council on March 26, Georgieva said the appointees would share their experiences on how macroeconomic and financial policies “can provide a supportive environment for innovation, entrepreneurship, and productivity — key ingredients for a thriving private sector and strong economic growth”.
Africa’s Micro, Small, and Medium Enterprises, fintech industry, scaling remittances, and cross-border payments will be the driving forces behind the continent’s digital ballooning payments system, which is estimated to reach $1.5 trillion by 2030.
This is according to a MasterCard-commissioned study by Genesis Analytics, which states that the digital payments economy is growing faster on the continent.
This comes as the World Bank says Sub-Saharan Africa has shown significant growth in financial inclusion over the past decade, much of it driven by mobile money account adoption.
Dimitrios Dosis, president, Eastern Europe, Middle East and Africa at MasterCard, comments: “Africa is filled with immense possibilities, and its people have the potential to shape the global economy in the decades ahead.
“MasterCard remains deeply committed to driving digital transformation across the continent, working closely with entrepreneurs, merchants, banks, start-ups, telcos, and governments. By increasing our investments, expanding innovation, and fostering inclusion, we are helping build a more connected and accessible digital future.”
The payment technology company went on to say as a longstanding technology partner to Africa, its continues to strengthen its commitment to the continent’s digital growth through strategic investments, public-private partnerships, and innovation initiatives that drive financial health and economic growth.
In addition, it says trends in Africa signal a strong shift towards digital transactions, with businesses and consumers increasingly embracing contactless solutions, further accelerating economic participation and financial accessibility across the region.
“For over five decades, MasterCard has worked alongside African governments, businesses, and communities to advance financial inclusion and economic development.
“With Africa projected to host nine of the world’s 20 fastest-growing economies, we are focused on leveraging our expertise and a technology to support the continent’s continued digital transformation.
“Our investments today will help build a more resilient economy for the future,” says Mark Elliott, division president, Africa, MasterCard
By fostering collaboration with key stakeholders, MasterCard says it aims to enhance digital connectivity, expand economic opportunities, and enable millions of people and businesses to thrive in the digital economy.
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