INNOVA FITNESS SQUAD
In April, the members of Innova Fitness Club enjoyed an exhilarating expedition to Mt. Longonot. The team relished the opportunity to connect amidst the natural beauty of the mountain.
During the hike, the spirit of teamwork and camaraderie flourished, reminding us of the power of collaboration in achieving remarkable feats.
OKUSEVINGA - UGANDA
The Ministry of Finance, Planning and Economic Development (MoFPED) contracted Innova Limited in 2023 to implement a platform which would facilitate the investment in government securities through mobile technology dubbed “Okusevinga“ which means “to save” in Luganda.
Innova Limited has been contracted by (MoFPED) to develop and launch the Okusevinga project. MoFPED together with the Bank of Uganda (BoU) initiated the project Okusevinga, part of financial inclusion initiative supported by The Government of Uganda aims to reach a broader population and provide opportunities for individuals to invest their money.
AI POWERED INNOVA ANALYTICS – AFRICA
Innova launched its much-anticipated Integrated Analytics Module. This powerful tool enables on the fly analysis of portfolio data including, Technical and Fundamental Analysis, Statistical Analysis, Risk/Return Adjusted Analysis, Fat Tail Analysis, Performance Attribution, Portfolio Rebalancing, Portfolio/Security Correlation and Regression Analysis, Portfolio Optimization, Predictive Modeling using models such as Generalized Linear Models (GLMs) and Reporting.
The tool is integrated to Innova’s Core Platforms, including the Innova Fund Management Platform, Wealth and Unit Trust Platforms.
The Innova Integrated Analytics tool provides users (Investors, Fund and Unit Trust Managers, Wealth Managers, Investment Banks, Trustees and Regulators), with AI powered insights on various data sets, including individual security and portfolio analysis.
During its development, Innova engaged with various capital market stakeholders including Actuaries, Fund & Unit Trust Managers, Investment Bankers, Wealth Managers and Regulators to successfully test the Analytics Platform.
REGTECH & SUPTECH PROOF OF CONCEPT:
INNOVA LIMITED & SECURITIES & EXCHANGE COMMISSION (SEC) ZAMBIA
The Securities & Exchange Commission (“SEC” or “the Commission”) of Zambia, partnered with Innova Limited to carry out a Proof of Concept (“POC”) of a RegTech and SupTech Analytics Platform. The platform enables Market Efficiency, enhance Regulatory Supervision, Monitoring & Oversight, bolster Investor Protection and provide better insight into Investor Funds (Regulatory compliance, Exposure Analysis, Risk/Return Analysis, Performance Analysis etc.). The platform also fully automates regulatory reporting and analysis using AI powered tools.
Having been successfully tested and implemented a similar platform in Kenya via the Capital Markets Authority (CMA) Sandbox in 2021, Innova collaboratively worked with the Commission and other capital market licensees (Unit Trust Fund Managers and Custodians) to customize the Platform to meet the unique needs of the Zambian Capital Markets.
The PoC was successfully completed in November 2022.
MEFMI - ZIMBABWE
The Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) is an institution founded in 1994 which includes 14 member countries and Central Banks, namely: Angola, Botswana, Burundi, Eswatini, Kenya, Lesotho, Malawi, Mozambique, Namibia, Rwanda, Tanzania, Uganda, Zambia and Zimbabwe.
In 2022, MEFMI appointed Innova to upgrade the Internal Credit Rating Analysis Tool (ICRAT) by implementing highly scalable and robust platform including risk analysis models. This will ensure automation of the data mining from different sources on both file based and automated API integration basis, simulation and reporting of various credit risk analysis practices through the tool. as well as perform improvements on usability and adaptability of the tool across the 14 member states.
The ICRAT Tool will be deployed to fourteen (14) central banks across Africa and is currently under pilot with The Central Bank of Kenya (CBK).
REGTECH & SUPTECH PROOF OF CONCEPT:
INNOVA LIMITED & CAPITAL MARKETS AUTHORITY (CMA) KENYA
Capital Markets Authority of Kenya, partnered with Innova Limited to carry out a Proof of Concept (“POC”) of a RegTech and SupTech Analytics Platform. The platform enables Market Efficiency, enhances Regulatory Supervision, Monitoring, & Oversight, bolsters Investor Protection, and provides better insight into Investor Funds (Regulatory compliance, Exposure Analysis, Risk/Return Analysis, Performance Analysis, etc.). The platform also fully automates regulatory reporting and analysis using AI-powered tools.
Innova collaboratively worked with the Authority and other capital market licensees and 16 Capital Market stakeholders (Fund Managers, Investment Banks, Unit Trust Fund Managers, Custodians, and Actuaries) to customize the Platform to meet the unique needs of the Kenyan Capital Markets.
The PoC was successfully completed in July 2021
SAFARICOM MALI - KENYA
Safaricom Mali, which is hosted on Safaricom Super App, is an investment product operating on the Innova Suite platform, jointly established by Safaricom (a telecommunications giant) and Genghis Capital.
It functions as a unit trust investment vehicle, allowing retail investors (referred to as unit holders) to directly invest via their mobile wallets. These pooled funds are professionally managed to generate daily interest for the investors. Innova takes pride in being the platform's provider since its successful launch as a pilot program in 2019.