News
Azentio Software Appraised at Maturity Level 5 of CMMI V2.0 Model
Azentio Software, a financial technology company with a strong presence across APAC, Middle East and Africa, is pleased to announce that its Middle East Banking Division has been appraised at Level 5, the highest maturity level of the CMMI Institute’s Capability Maturity Model Integration (CMMI)® for New Product Release and Implementation.
This appraisal has put Azentio Software Middle East in a very selective global list of high-performing organizations having successfully achieved the highest maturity level of CMMI V2.0 model. This thorough assessment has been carried out by Software Quality Center LLC., a premier ISACA partner.
CMMI is a capability improvement approach that provides organizations with best practices that ultimately improve their key capabilities and performance. An appraisal at Maturity Level 5 indicates the organization is performing at an “optimizing” level.
At this level, an organization continually improves its processes based on a quantitative as well as qualitative understanding of its business objectives and performance needs. The organization uses a quantitative approach to understand the variation inherent in processes and the causes of process outcomes.
This distinction reinforces Azentio’s role as a trusted information technology solutions provider for clients in banking, financial and insurance services, and adds to its successful attainment of ISO/IEC 27001:2013 milestone for establishing robust Information Security Management System and ISO 9001:2015 for Quality Management Systems.
Commenting on the news, Mohammed Kateeb, Global Head of Islamic Banking and President, Middle East & Africa at Azentio and Appraisal Sponsor, said, “The CMMI Level 5 rating is a strategic milestone in our journey to become the preferred IT partner of forward-thinking organizations.
“Achieving the highest maturity level of the new CMMI V2.0 model for New Product Release and Implementation of our Banking Division is an affirmation of the company’s absolute commitment to quality processes and excellence, and competence to continuously evolve, adapt and grow to meet the complex needs of its clients, while delivering business value.
“Our commitment to quality is one of our core values aimed at driving innovation, efficiencies and ensuring we embed best practices in everything we do.”
Kris Puthucode, Certified CMMI High Maturity Lead Appraiser at Software Quality Center, said, “The team at Azentio Software Middle East are passionate about improving processes to deliver best-in-class products as well as elevated implementation services to their clients.
“Being a niche and an award-winning market leader in their area of expertise in the financial sector, using the CMMI models for more than a decade now, has enabled superior standard of deliverables, and with the additional rigor of CMMI V2.0 and high maturity concepts, Azentio’s team will be able to use advanced statistical methods to predict several key parameters on projects and products.
“This Maturity Level 5 appraisal further reinforces their commitment to client satisfaction and defect-free delivery. It has been a pleasure working with them.”
Azentio Software Middle East is proud to be the 47th company to be appraised at CMMI Development V2.0 (CMMI-DEV) with Supplier Agreement Management (SAM) Maturity Level 5 of the total 10,569 appraisals done worldwide, helping the company to optimize performance by focusing on improving product quality, productivity, and client delight.
EFCC
The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.
The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.
Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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