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Dubai Silicon Oasis-Based Wavetec Expands Footprint To Africa With Ethiopia Deal
Published Jan 27, 2010
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Wavetec, a leading technology multinational and manufacturer of electronic queue management (eQ) systems, LED-based information displays and touch screen kiosks, announced its partnership with Ethiopia Commodity Exchange (ECX) to develop a country-wide real-time information displays.
Headquartered in Dubai Silicon Oasis (DSO), the region's premier integrated innovations hub for high-tech industries, Wavetec’s displays will ensure updated commodity price information is available and easily accessible throughout Ethiopia.
The project is sponsored and funded by the World Bank, and is aimed at ending exploitation of gullible investors, while increasing the legitimacy of the trading process by making accurate data available at all times around the country.
Tobias Bessone, General Manager of Wavetec-DSO, said: “We are pleased to offer our state-of-the-art information displays to the Ethiopia Commodity Exchange.
The tender for the project was floated to leading vendors around the world and based on our extensive experience in financial and commodity markets as well as domain knowledge, we have been chosen as the partner of choice.
“Our tactical positioning at Dubai Silicon Oasis has given us strategic access to markets in the Middle East region and Africa. We are keen to leverage our strength to grow our presence in new and emerging markets. Effectively, we will continue to expand our scope and scale of operations to target new clients and bring innovative solutions to the fore,” Tobias added.
By adding ECX to its impressive client portfolio, Dubai Silicon Oasis-based Wavetec has to date become the chosen technology partner for 12 exchanges in Africa, Middle East and Asia. Additionally, Wavetec offers customized technology solutions along with turnkey solutions to internationally renowned companies around the world.
A large volume of trading at ECX is agricultural – coffee beans and a variety of seeds – and the new state-of-the-art real-time display solution by Wavetec will ensure transparency and improve availability of information to enhance customer confidence in the market.
Abdulsalam Bastaki, Director of IT and Services at Dubai Silicon Oasis Authority, said: “Our aim has always been to offer a sustainable platform that will enable companies to grow within the MENA region and internationally.
Wavetec has fully utilized its capabilities and the advantages we offer to expand to other countries including Ethiopia by offering its most modern information displays. We are confident this success will stand as a great expansion model and benchmark for other companies at DSO to emulate.”
As a leading design manufacturer of end-to-end information display solutions, Wavetec boasts a dedicated research and development, assembly, installation and maintenance facility for eQ management systems as well as LED-based information displays system from its regional headquarters at Dubai Silicon Oasis.
A wholly-owned entity of the Government of Dubai, Dubai Silicon Oasis is the state-of-the-art technology park that provides the right enabling environment for companies looking to set up their regional headquarters and research and development divisions in the Middle East and North Africa region.
For further information, please contact:
Mazen El Dirany
Dubai Silicon Oasis Authority
Associate Manager - Corporate Communications
Tel: (+971 4) 5015102
GSM: (+971 50) 2266956
Fax: (+971 4) 5015200
Email: meldirany@dso.ae
Posted by
VMD - [Virtual Marketing Department]
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