At an event held this Wednesday, April 15, at a well-known venue in Caracas, Zona Tech (@somoszonatech) and Bancamiga (@bancamiga) officially presented their strategic alliance for the launch of “Zona Pay,” a credit card that combines technology and financing to facilitate the purchase of cutting-edge products throughout the Zona Tech retail network.

The union between one of the country’s most important technology chains and a financial institution recognized for its innovation marks a new step for the Venezuelan market. Zona Pay emerges as a tool designed to offer zero down payment, payments in up to 12 months, and the option to apply for the card through various channels, both in-person and digital.

The main objective of this collaboration is to promote planned spending, provide greater accessibility, and offer an experience tailored to the needs of today’s consumer.

“With Zona Pay, we want more people to have access to the technology they want, in a simple, planned way, and with the support of two brands that share a vision of progress,” highlighted Luis Marín, Marketing Director of Zona Tech.

Among its advantages are the joint backing of two solid brands, the ease of acquiring technology and home products, and a streamlined application process, available at Zona Tech stores, Bancamiga branches, and online at www.zonatechgroup.com/bancamiga.

For his part, Alberto Camardiel, Executive Director of Marketing, Products, and Services at Bancamiga, stated that for Bancamiga, innovation is not just a goal, but the driving force behind each of its products.

“Today, with the official launch of the Zona Pay credit card, we are taking a firm step in that direction by consolidating our strategic alliance with Zona Tech, one of the most influential technology chains in the country. This new card is not just a financial instrument. It is a solution designed to connect Venezuelans with the latest technology in a real, responsible, and efficient way,” he said.

The Zona Tech + Bancamiga alliance represents a differentiated value proposition in the market, combining Zona Tech’s commercial expertise with Bancamiga’s financial support, offering solutions designed to accompany the growth and modernization of consumption in Venezuela.

The event was attended by executives, partners, media representatives, content creators, and prominent figures from the financial and technology sectors.

To learn more about Zona Pay and its benefits, follow @somoszonatech and @bancamiga on social media, where the alliance’s upcoming news and innovations will be shared.

Information and images provided by Zona Tech and Bancamiga                          

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During a visit to Venezuela this week, representatives of the British government met with their counterparts in Caracas to assess bilateral relations and explore new opportunities in trade, tourism, and education.

In this regard, “Harriet Thompson, Director for the Americas at the UK Foreign, Commonwealth & Development Office (FCDO), and Catherine O’Neill OBE, Deputy Director and Head for Latin America, inspected the facilities of the former Ambassador Hotel during their visit to Caracas and announced its upcoming reopening as the Hotel Londres.”

They also held another meeting with representatives of the Venezuelan-British Chamber of Commerce, with students from the British Council in Venezuela, and with the Chevening Scholarship program, which allows Venezuelans to pursue master’s degrees at universities in the United Kingdom.

Regarding the former Ambassador Suites Hotel, previously owned by the Ambassador chain, a subsidiary of Hilton, it became the Hotel Londres, managed by a British consortium in charge of its renovation since 2022. The initiative between the two governments will transform the hotel into a five-star establishment.

M.Pino

Source: ultimasnoticias

(Reference image source: Scott Graham on Unsplash)

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Bancamiga held a virtual forum with the participation of economist Luis Oliveros, who offered answers to the question: How do I keep my business afloat in a challenging economy? This is one of the questions in the Manual for Entrepreneurs, published by the Bancamiga Publishing Fund.

The expert spoke with more than one hundred participants, including businesspeople and entrepreneurs, who received guidance on how to protect themselves from inflation, collect payments and pay suppliers, develop pricing strategies, cover strategies, study demand characteristics, and provide recommendations for the Venezuelan startup and business ecosystem.

Under the direction of Bancamiga’s Corporate Social Responsibility Department, the dean of the Faculty of Economic and Social Sciences at the Metropolitan University (Unimet) facilitated and reinforced tools that boost business and enable healthy competition in the Venezuelan market.

Inflation and Collections

The first aspect he addressed was the challenges of medium- and long-term inflation. Therefore, a well-structured business plan plays a fundamental role.

Regarding collections and payments to suppliers, he maintained that during an inflationary period, wide collection margins cannot be achieved because this leads to a loss of purchasing power if payments are made only in the national currency. Accordingly, he recommended having other hedging mechanisms in place. “One of the ideal strategies is to divide the profitability between domestic and foreign currency,” he added.

Another option is to establish long-term contracts with clients and suppliers with whom the company desires a stable business relationship. Similarly, it is important to ensure that the accounts receivable turnover is completed in a shorter timeframe and that the accounts payable turnover is extended as much as possible.

Pricing and Hedging Strategy

Oliveros noted that, when setting the price of a product or service, it is essential that its value not be set below the cost structure, as this indicates a problem with the business’s sustainability.

For pricing, it is essential to know the target customer or market niche, and based on this, the company can manage its cost elasticity and demand. He also recommended diversifying the hedging strategy between domestic and foreign currencies.

Oliveros emphasized that the company and the person in charge of its finances must have independence, the freedom to make changes, be flexible, agile, and make quick decisions when the economy fluctuates constantly.

Opportunities

During the presentation, the economist emphasized that “Venezuela is a challenging economy, but it is an economy with significant opportunities and, additionally, it has attractive profit margins that are unavailable in other economies.”

Luis Oliveros also reflected that “entrepreneurs in Venezuela face multiple challenges. Starting a business in Venezuela is a very interesting path, one that comes with challenges, and thanks to institutions like Bancamiga, these challenges diminish along the way.”

“Not only do you have an entity that gives these types of talks, but it also helps you, gives you tools, gives you credit, and generates ideas so you can start your business in the best possible way. All these challenges that arise in Venezuela must be viewed as opportunities. The entrepreneur doesn’t just focus on the problem; he focuses on the solution,” he concluded.

Bancamiga’s Social Responsibility Department will continue supporting entrepreneurs through its business development program, providing in-person and online training activities.

With information and reference images provided by Bancamiga Banco Universal

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The Government of Brazil revealed foreign investment opportunities worth a colossal value of 30.5 billion dollars to diplomats from various nations.

Brazilian authorities are actively searching for investors interested in highway concession projects, with a projected investment of 15 billion dollars; electric transmission, with 8.2 billion; basic sanitation, with 5,000 million; ports, with 1,800 million, and waste management, with 500 million.

These investments will be materialized through concessions with a maximum duration of 30 years, as well as through public-private partnerships, as detailed in the program presented to diplomats in the Brazilian capital, Brasilia.

To attract this important investment, the Minister of the Civil House, Rui Costa, called on the ambassadors present at the event to “collaborate in the dissemination of this news” among companies and investment funds in their respective countries.

Costa stressed: “Our goal is to awaken the interest of every nation, international company and investment fund about all the investment opportunities in Brazil and invite them to be part of this exciting project.” In addition, he highlighted the “firm presence” of Spanish companies in the energy sector.

Minister Costa also pointed to other government projects aimed at accelerating the arrival of foreign companies, such as the creation of a “green fund” to finance sustainable projects and the regulation of a carbon market in Brazil.

K. Tovar

Source: Bancaynegocios

(Referential image source: Raphael Nogueira, Unsplash)

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The French hotel group Accor recently analyzed expansion opportunities in Latin America, where they have consolidated their presence after the restart of travel restricted by Covid-19.

Under the franchise modality, Accor has strengthened its presence in the region, opening new hotels in different countries. This was highlighted in a recent online event by Mauro Rial, COO North & Hispanic Americas – Premium, Midscale and Economy Brands, and Luis Mirabelli, VP Development South America (PME Hispanic Countries).

Rial highlighted: “In Latin America we have a leadership position, with great strength in Brazil, and we seek to transfer it to the entire region. Accor’s objective is to maintain the successful business model that we have as a focus on franchises, with a portfolio today in the region of 60% managed properties and 40% franchised.”

Tourism is resurging after the progressive removal of restrictions imposed by the pandemic. Likewise, people’s interest in traveling promises a return to pre-pandemic hotel occupancy rates. Accor wants to make the most of its presence in leisure and corporate travel destinations.

The French group has hotels in Brazil, Chile, Colombia and, more recently, Mexico. It has a wide portfolio, with more than 40 brands and more than a million rooms available.

M.Pin

Source: revistaeconomia

(Reference image source: Bruno Thethe, Unsplash)

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A study carried out by Backbase, a banking platform, and Americas Market Intelligence (AMI), revealed that 75 % of young people between 18 and 21 years old consider that neo-banks and fintech offer more attractive services for the young population than traditional banks in Latin America.

Mijael Feldman, executive director of Getxerpa, highlighted that with the emergence of fintech companies, competition and user demands for personalized services increased, where products are offered according to the profiles and preferences of each client. That is why “banks have to jump on the digitization bandwagon, with differentiated proposals.”

With the Application Programming Interface (APIs), or application programming interface, financial institutions are able to integrate user data and structure service offers according to their preferences and needs and thus improve services.

In Latin America, the law requires, in article 76 of the Fintech Law, more than 2,200 financial entities, fintech and even the Credit Bureau to provide information through APIS, which is classified into three types: open financial data, aggregates and transactional.

Opportunities for the financial sector

The traditional financial sector in Latin America has great opportunities beyond offering services digitally”. According to the information provided by Finerio Connect, 68 % of Mexican companies predict that open banking will promote the growth of the financial sector, 65 % that it will create greater competition and 92 % of the companies surveyed observe that associations with open banking providers banking will be successful.

The director of operations for the Americas of BPC, Mauricio Fernández, considers that the role of the user of open banking must be actively responsible. “The client is the owner of his data.”

While the users of the banking system want to have access to additional services. According to Backbase, “65 % of respondents want products that help consolidate savings and optimize finances and 72 % expect to use loyalty points or receive discounts when shopping online.”

For Mijael Feldman, banking must be digitized and it is not just moving services to the cloud. It is necessary to provide new digital channels for its users, as well as new products.

M. Rodríguez

Source: eleconomista.com.mx

La entrada Neo banks and fintech attract the young population apareció primero en Bitfinance.

During the year 2021, Venezuela registered a slight increase in its economy that could be maintained and increased by approximately 5% by the end of 2022, as long as the government authorities maintain the fiscal and monetary discipline that began in the last months of last year, from according to the recommendations made by some analysts.

Among those recommendations so that Venezuelans can protect their income and improve the economic crisis, the following stand out:

Seize opportunities

For the economist Henkel García, director of the econometric consultancy, Venezuelans must think about how to generate income by 2022. economic openness and better conditions can generate opportunities that must be taken advantage of, as much as possible, understanding that in 2022 still a difficult environment will present itself. In “an environment where those opportunities will be better for one group than for another. You have to make the most of them, generate income and try to increase the insufficient income you have today” he pointed out.

For his part, the economist and political advisor Miguel Velarde pointed out that an alternative for citizens to face the crisis is to continue safeguarding the value of their income and their foreign currency possessions, he also considers that in a new post-pandemic reality, Venezuelans have to evaluate other alternatives and not only protect their wealth, but also generate wealth in a different way.

Study and work online

Technological development and the pandemic have allowed people to connect in real time, accelerating the process of changes globally, which is why Venezuelans can take advantage of new technologies and connectivity to do jobs in their professions, if possible, from Venezuela to other parts of the world, where they can access payments in currencies other than Venezuelan or access courses and education in general.

Velarde considers it important to train with courses and other opportunities offered by the Internet, sometimes they are free, to advance and expand knowledge that will allow generating wealth. “I believe that Venezuelans are still going through such a complex economic crisis. They have to take advantage of the opportunities that the new normal is providing to make the most of this,” he stated.

Invest in consumer goods and services sectors

Ángel Alvarado, a member of the Venezuelan Finance Observatory, said that by 2022 the economy is expected to grow more than 4%, possibly close to 10%, therefore “saving and investing will be important” and considers that the sectors with the highest opportunities are those of mass consumption and services.

“I think there is a reactivation in the retail, restaurant and service sectors. There is an opportunity for people, we are already seeing it with the delivery men, the restaurants. I believe that this will continue to be capitalized, essentially in the interior of the country, where improvements in fuel supply can encourage these activities, “said the analyst.

For his part, for the partner and director of Ecoanalítica, Asdrúbal Oliveros, the sectors with the greatest opportunities for growth in 2022 are those related to “food, health and personal care” and Venezuelans could make the most of these opportunities.

M. Rodríguez

With information from specialized media in economics

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The Venezuelan government held a meeting with the representative of the United Nations Organization (UN) in order to establish the guidelines and agreements that allow promoting sustainable objectives.

The meeting was attended by 11 ministers of the government of Nicolás Maduro, who raised the challenges for the coming years in the areas of health, food, education, indigenous people, science, technology, emplyment. In the meeting they stressed that in a “framework of cooperation with the system of United Nations we can advance in solutions “, indicated the vice president of social and territorial socialism, Mervin Maldonado.

Ricardo Menéndez, Minister for Planning, highlighted the challenges that countries have in times of a global pandemic, where health, food, supplies and technology are affected and “funds and input banks democratized at the international level” are required.

While the vice minister for multilateral issues, Rubén Darío Molina, pointed out that Venezuela is joining the meetings with the UN in the framework of the “Diplomacy of Peace and respect for International Law.”

For his part, the Coordinator of the UN Venezuela, Gianluca Rampolla, pointed out that the exchange was very constructive, defining it as “friendly, close, open, transparent, of trust and mutual respect.”

M. Rodríguez

Source: primicia.com.ve

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