Celebrating Teamwork at Innova Limited: Sports Day 2024
The Innova team gathered for an exciting Sports Day, celebrating our teamwork, collaboration, and vibrant company culture.
At Innova, our people are our greatest asset. The day’s activities showcased the diverse talents and cooperative spirit that drive our success in delivering innovative solutions to Financial and Capital Markets across Sub-Saharan Africa. Through friendly games and shared victories, we highlighted the importance of working together both on and off the field.
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.
INNOVA at the Software Quality Conference
INNOVA proudly attended the Software Quality Conference, sponsored by ISTQB-KENYA (International Software Testing Qualifications Board), held at the Radisson Blu Hotel, Upper Hill, Nairobi, on February 22 - 23, 2024. This insightful event offered invaluable opportunities to learn from and network with industry experts and key stakeholders. A special thanks to the speakers, including Olivier Denoo, Klaudia Dussa-Zieger, Sebastian Małyska, and all the distinguished guests, for sharing their expertise and invaluable insights.
Inspiring Evening at the 'Women of Innova' Event
Innova was honored to welcome Rebecca Wanjiku, CEO of Fireside Group Ltd, as the motivational speaker for our recent 'Women of Innova' event. Her profound insights and inspiring words left a lasting impact on our team, encouraging us as we continue to forge new paths toward success.
We extend our heartfelt thanks to Rebecca Wanjiku for sharing her invaluable expertise and empowering our team. This event ignited a renewed sense of purpose, and we’re excited to build on the momentum it created.
Celebrating 14 Years of Innovation
Innova Limited celebrated a significant milestone—14 years of delivering innovation, growth, and teamwork. This journey has been fueled by the dedication, creativity, and passion of our exceptional team, whose contributions have shaped our success and vision for the future.
To mark this special occasion, we held a memorable cake-cutting ceremony, bringing together the amazing individuals who make Innova what it is today. It was a moment to reflect on our achievements, celebrate our collective efforts, and look forward to continued success in delivering cutting-edge solutions to the Financial and Capital Markets across Sub-Saharan Africa.
Here’s to many more years of innovation, collaboration, and excellence.
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.
An Insightful Experience at the MEFMI Regional Conference for Sovereign Asset Managers
We are excited to have wrapped up a highly insightful and enriching experience at the Macroeconomic & Financial Management Institute of Eastern and Southern Africa (MEFMI) Regional Conference for Sovereign Asset Managers, held in Nairobi, Kenya, from November 27-30, 2023.
The event gathered official representatives from 14 Central Banks, Public Pension Funds, Deposit and Investor Protection Funds, and Sovereign Wealth Funds, all members of the MEFMI Secretariat. The discussions focused on improving Credit Risk Analysis, fostering collaboration, and sharing best practices to strengthen financial management strategies.
A key highlight of the conference was the comprehensive review of the upgraded Internal Credit Rating Analysis Tool (ICRAT), developed by Innova Limited in close collaboration with MEFMI and its Secretariat members. This tool is now being utilized by various Central Banks to enhance their risk analysis capabilities.
We extend our heartfelt appreciation to everyone who contributed to advancing the use of technology for reliable Risk Analysis and Mitigation strategies. Your dedication continues to push the boundaries of innovation in this critical area.
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.