Investment Opinion – Kuwait Financial Express http://www.kuwaitfinancialexpress.com Fri, 29 Sep 2023 08:34:31 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.2 The Commonwealth of Dominica offers South African viable growth opportunities http://www.kuwaitfinancialexpress.com/the-commonwealth-of-dominica-offers-south-african-viable-growth-opportunities/ Fri, 29 Sep 2023 08:34:31 +0000 http://www.kuwaitfinancialexpress.com/?p=308632 Roseau, Sept. 29, 2023 (GLOBE NEWSWIRE) — The South African business landscape has become difficult with numerous economic and regulatory challenges that startups and business owners face, driving them to seek opportunities abroad. Many more South African businesspersons are exploring citizenship by investment (CBI) programmes. The Commonwealth of Dominica offers a Programme for South African businesspersons to grow and succeed.

South African entrepreneur Athi Rwexu's journey from local startup founder to global success story highlights the challenges faced by small businesses in South Africa. While her mathematics application, Beta–SigmaX, aimed to make math accessible to children worldwide, Rwexu found it more promising to seek support and investment in the United Kingdom than in her home country.

This trend of South African startups seeking opportunities abroad due to unfavourable conditions has caught the attention of the Department of Small Business Development (DSBD).

Mofalefa Mohoto, the acting deputy director–general of DSBD, acknowledged that many startups, especially in the tech sector, were moving overseas because of issues such as funding limitations and regulatory hurdles.

South Africa's tax policies and business regulations often hinder the growth of startups, pushing them to explore more conducive environments abroad.

The Southern African Venture Capital and Private Equity Association (Savca) reported a decrease in venture capital investment in South Africa in 2021, reflecting the challenges faced by startups seeking capital in the country.

One key issue is that South African financial institutions typically require a proven track record of returns before investing, a barrier that many startups cannot overcome. To address these challenges, DSBD has initiated a “start–up act movement” to tackle the regulatory issues constraining startups' growth and create an environment conducive to their success.

The goal is to foster high–tech startups that can eventually become major players, similar to the success stories in Silicon Valley and other innovation hubs.

Despite the challenges, there is optimism within the South African startup ecosystem. Rwexu believes that the ongoing discussions on startup support in South Africa are promising, and there is hope for a brighter future in the sector. However, for businesspersons who are struggling in South Africa, there is another potential avenue to consider – citizenship by investment (CBI) programmes in the Caribbean.

Citizenship by Investment Programmes for business start–ups

As South African entrepreneurs face hurdles in their home country, some are exploring alternative options to support their businesses and secure their future. CBI programmes, commonly offered by several Caribbean nations, present an appealing opportunity for South African small business owners seeking stability and growth. A notable destination that offers this CBI programme is the Commonwealth of Dominica.

The benefits of these Caribbean CBI programmes

Foreign Direct Investments

The Government of Dominica is actively promoting and facilitating foreign direct investment (FDI) in the country, with a strong emphasis on industries that generate employment, bring in foreign currency, and positively impact the local population.

To encourage businesses to set up in Dominica, the government has established various investment incentives through the Invest Dominica Authority (IDA). These policies include generous tax incentives, allowing duty–free importation of equipment and materials, exemptions from value–added tax on specific capital investments, as well as waivers on withholding tax for dividends, interest payments, and certain external payments and income.

Additionally, the IDA offers support to approved CBI projects, providing an attractive avenue for certain forms of foreign direct investment.

In 2021, the IDA introduced an Investment Promotion Strategy that targets four key sectors:

1. Organic agri–business.

2. Aquaculture and manufacturing.

3. Renewable energy.

4. Tourism.

These sectors are seen as critical for the country's economic growth. Dominica is also actively exploring opportunities in knowledge services, including business processing operations. Beyond these priorities, the government maintains an open stance toward FDI and continually evaluates other sectors for investment potential.

Importantly, Dominica welcomes foreign investors with open arms and imposes no restrictions on foreign control. Foreign investors enjoy the same rights as local nationals and can own up to 100 per cent of their investment. This approach underscores Dominica's commitment to providing a conducive environment for foreign businesses to thrive.

The IDA plays a crucial role in overseeing proposed investments seeking government incentives. Their evaluation ensures that each project aligns with national laws and serves Dominica's best interests while delivering economic benefits. This review process is transparent and involves a series of steps that investors must follow to secure a business license.

Dominica transforming into a digital economy

As part of the National Reset initiative, the government of Dominica has made a deliberate choice to allocate more budget resources to productive sectors. The aim is to encourage the emergence of new businesses and the growth of existing ones.

This strategy is geared towards generating additional employment, expanding the nation's economy, and contributing to a resilient and sustainable development path for Dominica. Key areas of investment include agriculture, value–added manufacturing, the blue economy, tourism, renewable energy, export–oriented services, the digital economy, and commerce.

Dominica has made significant strides in transitioning towards a digital economy, both in the private and public sectors. Private enterprises have introduced online banking, digital bill payment platforms, and online shopping. Many businesses have fully embraced digital processes.

The government has played a pivotal role in driving this transformation by introducing new digital services for public use each year. To further support the development of the digital economy, the government plans to invest directly in the country's young population.

Grants will be provided to support digital technology initiatives, empowering young people with skills, resources, and tools to excel in the digital era. The application process for these grants will begin in the first quarter of the fiscal year, and young individuals are encouraged to seize these opportunities.

One immediate benefit of the government's investment in the digital economy is the creation of online job opportunities. To date, 181 Dominicans have received training, and 109 have been engaged in online jobs on the global stage. An additional 60 individuals are participating in a 12–week training programme. These efforts reflect the government's commitment to enhancing the capabilities of its citizens and creating improved job prospects for them, aligning with the broader goals of national development.

The Government of Dominica supports businesses in the tourism sector

The Ministry of Commerce, Enterprise, and Small Business Development in Dominica has a clear mission to foster the growth of resilient businesses and promote economic transformation. They aim to create an environment that is supportive of business development, capable of adapting to climate–related challenges, and facilitating recovery from adverse climate events.

To achieve these goals, the government has implemented measures to encourage the organised growth of micro, small, and medium enterprises (MSMEs), which play a significant role in the private sector and contribute substantially to employment.

The government initially allocated funds to support these initiatives, and it has additionally secured more funds to aid MSMEs in developing and restructuring their businesses, enabling them to navigate the current economic challenges effectively.

In response to these efforts, the Cabinet has approved significant changes to the Small Business Support Unit (SBSU) Small Business Enterprise Development Grant application process. Grant assistance amounts now vary. This flexible approach considers factors such as the readiness of entrepreneurs, the level of innovation, expansion plans, export readiness, and the hiring of employees beyond family members.

These changes reflect the government's commitment to providing substantial support to small businesses and encouraging their growth and resilience in the face of economic challenges.

This Caribbean nation is not only a beautiful tropical paradise but also an inviting destination for entrepreneurs and investors looking to make a positive impact while enjoying the island's natural beauty and cultural richness.


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30 things you did not know about Dominica http://www.kuwaitfinancialexpress.com/30-things-you-did-not-know-about-dominica/ Fri, 08 Sep 2023 15:48:49 +0000 http://www.kuwaitfinancialexpress.com/?p=308447 Roseau, Sept. 08, 2023 (GLOBE NEWSWIRE) — The Commonwealth of Dominica is a small island located in the Caribbean between Martinique and Guadeloupe. Tourists marvel at the crystal blue ocean views and tropical humid climate, there is an abundance of discovery on the Nature Isle of the Caribbean.

Explore 30 interesting facts about the magical island of Dominica!

Cultural history

1. Dominica was named by Christopher Columbus

Prior to Christopher Columbus' arrival on the island, the Caribbean settlers named it Watikbuli, meaning "Tall is her Body'. In 1493, Christopher arrived on the island and named it Domingo, which means Sunday, the day which he discovered the island.

2. Dominica has an interesting motto

The motto is French, "Aprs le Bon Dieu, c'est la Terre', translated to English as "After God, the Earth', Dominica eloquently displays its natural beauty.

3. Dominica is a republic in the Commonwealth

The Nature Isle gained its independence on 3 November 1978 and celebrates this day annually with vibrant national festivities. These include cultural markets, music festivals, and beauty pageants.

4. The National Anthem is titled "Isle of Beauty, Isle of Splendour'

Dominica's national anthem was written by Wilfred Oscar Morgan, with the music composed by Lemuel McPherson Christian OBE, after receiving statehood in 1967.

5. Government system

As a parliamentary democratic republic nation, The Executive branch of government has a President and Prime Minister, whereby nominees are elected in consultation with the opposition leader. The two–party system, with the ruling Dominica Labour Party and the opposition party, the United Worker's Party.

All Dominican adult citizens may cast their ballots every five years during the government elections.

6. Dominica's President, His Excellency, the Honourable Charles Savarin

Elected as Dominica's eighth president in October 2013, Honourable Charles Savarin is a member of the Dominica Labour Party. He received his nomination from Prime Minister, Honourable Roosevelt Skerrit, who has been the head of government since August 2004. Previously, His Excellency, Honourable Savarin was a teacher, trade unionist, parliamentarian, diplomat, and government minister.

7. English Common Law system

Dominica's constitution includes the right to life, personal liberty, and freedom of expression, which follows one–third of the world's English Common Law. The hierarchy of Dominica's court starts from the Magistrate Court, High Court, Court of Appeal, and lastly The Court of Appeal the Privy Council.

8. Dominica's small population of 72,412

The population of Dominica is currently sitting at 72,414, making it the 11th least–populated nation in the world.

9. The Dominican flag is one of only two national flags with the colour purple

Out of all the nations in the world, Dominica's national flag is one of only two national flags to incorporate the colour purple. The other is the Nicaraguan national flag. The Dominican national flag features a Sisserou Parrot that has purple feathers on the underside and the crown.

Geographical landscape

10. The island is also known as the Nature Isle of the Caribbean

Dominica's spectacular natural beauty is oftentimes affectionately known as "The Nature Isle of the Caribbean." The vast amount of the island is covered in lush forests. Year–round visitors can experience wondrous waterfalls and mud ponds. Indigenous rainforest animals and insects such as parrots, iguanas and rare butterflies make up some of the phenomenal fauna.

11. The national flowers for Dominica

The Sabinea carinalis, warmly known as the "Bwa Kwaib' or the Carib Wood. Is the indigenous wild xerophytic plant. In bloom, it exhibits bright scarlet flowers from its branches. It is said to represent the longevity of the Dominican youth.

12. The National Bird of Dominica is the Sisserou Parrot

The national bird of Dominica the Sisserou (Amazona Imperialis), "The Pride of Dominica" is found on the country's emblems such as the Coat of Arms, the National Flag, the Public Seal, The Mace of the House of Assembly and Dominica's Honours for Meritorious Service. The imperial parrot is endemic to Dominica's dense mountainous rainforests. This shy and yet attractive indigenous bird has resided on the island for numerous thousands of years and can live over 70 years of age. The bird is an endangered species and is under preservation.

13. Dominica is the only country in the world where sperm whales reside year–round!

Sperm whales have called Dominica's waters their home, and it is extremely likely to spot them swimming in pods, as whales and dolphins live close to shore throughout the year.

14. The Island is home to the Giant Ditch Frog known as the "mountain chicken"

Dominicans refer to the frog as the "mountain chicken" due to its legs imitating drumsticks. The frog used to be a delicacy as a national dish and is now under conservation to preserve the species.

15. Home to the Caribbean's first long–distance hiking trail

The Waitukubuli National Trail (WNT) is the first long–distance hiking trail in the Caribbean. It is estimated to be 183 km long and is split into 14 sections. The trail was built between 2007 and 2012, the route crosses through Dominica and traverses some of the country's most spectacular terrain. It will take a minimum of two weeks to complete the hiking trail.

16. Dominica is home to a UNESCO World Heritage Site

The Morne Trois Pitons National Park is the exclusive Heritage Site in Dominica and was designated a UNESCO World Heritage Site in 1997. This national park is situated in the southern half of the island and contains many of Dominica's most spectacular attractions including the Titou Gorge, Boeri, Freshwater Lakes, the Boiling Lake, and the Middleham Falls. The Morne Trois Pitons National Park covers roughly 9 per cent of Dominica's land area.

17. Dominica has practised herbal medicine for centuries

The original inhabitants of the island, the Caribs, and later Africans, brought with them thorough knowledge of plants and herbs. This knowledge has been passed down through generations and many herbs like Moringa, Basil and Dandelion are still used today for medicinal purposes, usually referred to as "bush medicine."

Economic features of Dominica

18. Dominica's main industries

The country's main industries are agriculture, tourism and manufacturing. Over 20 per cent of the island's land is arable and under cultivation, with bananas traditionally serving as Dominica's largest export. Although Dominica has recently increased the production of other fruits, as well as vegetables and coffee beans.

Dominica's tourism sector continues to steadily grow, with the alluring nature attracting an estimated 200,000 holidaymakers annually. The island's manufacturing industry primarily depends on raw materials from the agricultural sector, where in–demand exports include coconut soap, ceramics and shoes.

19. Dominica's official currency is the East Caribbean Dollar (XCD)

Dominica introduced the Eastern Caribbean Dollar (ECD) currency in 1965, which is used in another seven countries in the Organisation of Eastern Caribbean States (OECS).

Foreign currencies including the euro and dollar are also accepted as tender. It is also pegged to the US dollar at a rate of US$1 to ECD (East Caribbean Dollar) $2.70. As Dominica is a member of the Commonwealth, all banknotes and coins feature an image of King Charles III.

20. The Gross Domestic Product (GDP) Dominica

The World Bank recorded the island's GDP had an outstanding US$612,048,148 in financial year 2022.

21. Investors can acquire Citizenship of Dominica by Investment

Investors in Dominica tend to seek citizenship through investment opportunities around the country. When visitors officially become Dominican citizens, they can develop businesses, work, relocate and extend their citizenship to their family members.

Dominica's CBI Programme received first in the Citizenship by Investment (CBI) initiative for six consecutive years by the CBI Index.

22. English is Dominica's official language

English is universally spoken in Dominica and UK English spelling is used. Dominican Creole (an Antillean Creole derived from French), and French Patois are spoken amongst the locals. This is because of the long history of French migration to the island as well as Dominica's location between two French–speaking countries; Martinique and Guadeloupe.

23. Christian religious practices

Christianity is the most common religion in Dominica, practised by over 90 per cent of the population. However, religious freedom is enshrined in the Constitution of Dominica so inhabitants can follow alternative faiths if they so choose, such as Rastafarianism.

24. Cricket is the most popular sport in Dominica

Many Dominican cricketers play for the West Indies cricket team internationally. Shane Shillingford and Adam Sanford are two of the most notable cricketers from Dominica.

25. The capital city of Dominica is Roseau

The largest city in Dominica it is located on the Southwest coast of the country and is surrounded by the Caribbean Sea, the Morne Bruce Hill and the Roseau River. Filled with lively markets, 18th–century French architecture and famous landmarks like the Roseau Cathedral and the Morne Bruce Cross.

26. The Main Airport is Douglas–Charles Airport

Formerly known as Melville Hall Airport, Douglas""Charles Airport is Dominica's largest of the country's two airports. Douglas""Charles Airport operates both passenger and cargo planes to other destinations in the Eastern Caribbean region.

27. Dominica is on a quest to be the world's first climate–resilient nation

The Government of Dominica has called on investors around the world to assist in the development of sustainable and robust industries and infrastructure. This is an exclusive opportunity to implement the latest technologies and developmental approaches. Dominica aims to be at the forefront of tackling climate change challenges.

28. Unique rivers for each day of the year

Apart from breathtaking beaches and volcanoes, Dominica has over 365 rivers! While some are cool and clear, others are cloudy and fast. All the rivers are surrounded by exotic plants and flowers. The Indian River is the widest on the island, and many visitors choose this river to explore the rivers for the first time.

29. There are nine active volcanoes in Dominica

Dominica has the highest concentration of volcanoes in the world, with approximately nine active volcanoes. Eruptions are very rare, and the last volcanic eruption was in 1997 and the one before that was in 1880.

The highest mountain and volcano are Morne Diablotins, and it is a magical sight. Adventurists can take a six–hour hike to reach the top where neighbouring islands, Martinique and Guadeloupe can be seen from the top.

30. Many of Dominica's beaches are covered in black sand

The volcanoes in Dominica influence the colour of beautiful black–sand beaches. Some of the most famous black sand beaches in Dominica include the Number One Beach, Mero Beach, and Rosalie Bay Beach.


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The Commonwealth of Dominica Enhances Security and Management of the Citizenship by Investment Programme http://www.kuwaitfinancialexpress.com/?p=308340/ Tue, 29 Aug 2023 08:00:00 +0000 http://www.kuwaitfinancialexpress.com/?p=308340 Roseau, Aug. 29, 2023 (GLOBE NEWSWIRE) — The Commonwealth of Dominica has taken significant steps to bolster the security and management protocols for its Citizenship by Investment Programme, aimed at fortifying the integrity and longevity of the programme.

Dr. Roosevelt Skerrit, the Prime Minister of Dominica, has been collaborating closely with various stakeholders, including international consultants, to conduct a comprehensive audit of the investment migration programme. Building on an initial audit undertaken last year by a UK consulting firm, the government has been actively implementing new and improved processes through the Citizenship by Investment Unit.

During his recent Budget Speech, the Prime Minister unveiled plans to enlist a globally vetted management consulting firm to oversee the overall operations and management of the Citizenship by Investment Programme. While Dominica already boasts a proactive due diligence process, the government is committed to its further reinforcement, vowing "to leave no stone unturned to strengthen it."

"We take this matter very seriously and will increase our efforts in showcasing our robust due diligence and risk mitigation efforts on all fronts." the Prime Minister affirmed.

Over the past 18 months, the Government of Dominica has undertaken several measures to elevate the security of its investment migration programme.

A United States–based firm has already conducted anti–money laundering and counter–terrorism financing training for all Citizenship by Investment Unit staff as the Unit undergoes restructuring. The CBIU was restructured under the supervision of an expert compliance officer to ensure that all procedures were updated, quality control measures strictly followed, and all IT systems upgraded.

The government made a bold move at the start of the year, giving notice of its intent to revoke the citizenship of those who made false declarations or misrepresentations in their applications, particularly relating to previous visa rejections from countries with which Dominica has visa–free treaties.

Dominica has also introduced biometric travel documents and updated its naturalisation certificate, enhancing its security features.

Citizens of the Kurdistan region in Iraq, Russia and Belarus do not qualify for citizenship in Dominica as international security authorities have flagged the regions as high risk. Moreover, the government introduced legislation providing an enhanced due diligence fee for applicants from specific countries. This enhanced due diligence fee offers the government additional resources to thoroughly scrutinise applicants from these countries.

The country also issued regulations to restrict citizens from changing their names.

Dominica has distinguished itself as the first Caribbean country to implement mandatory interviews as part of the citizenship by investment application process "" a requirement agreed upon with the United States at a roundtable earlier this year.

"We also devised a new rigorous risk assessment and hired firms from the United States and the United Kingdom to begin interviews with all CBI applicants," Prime Minister Skerrit said in the Parliament.

In addition to international firms in the US and UK conducting due diligence checks, Dominica's Financial Intelligence Unit will also assist with the due diligence process. This includes reporting rejected applicants to the JRCC monthly and permitting the JRCC to share that information with the other CBI jurisdictions in the OECS.

Dominica is leading discussions in the region to collaborate on safeguarding the citizenship by investment industry; and has taken measures to emphasise its dedication to cooperating with global stakeholders and enhance the due diligence process to reduce threats from illicit actors.

In addition to these recent changes, new risk mitigation actions include:

  • Thorough assessment and reduction of the number of agents and promoters of the country's Citizenship by Investment Programme, who will be strictly monitored, along with developers, to ensure compliance with current regulations governing the advertisement of Dominica's Citizenship by Investment Programme.
  • Strict enforcement of regulated citizenship fees to prevent any undercutting.
  • Strengthening of policies and legislation to maintain competitiveness and alignment with international best practices.

Dominica's rigorous due diligence and vetting processes make it extremely difficult for any illicit individual to qualify for citizenship. Background checks occur on the ground where the applicant lives and works, via online databases and now in person.

The Prime Minister has reiterated that Dominica will maintain robust due diligence processes to ensure the country meets international standards and alleviates any security concerns.

"We have fresh impetus to go back and relook where we can do even better in giving our international counterparts confidence in our security measures "" which are already some of the most robust in the world compared to other jurisdictions," he said.


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Consumers across the globe desire humanized experiences when navigating the insurance industry http://www.kuwaitfinancialexpress.com/consumers-across-the-globe-desire-humanized-experiences-when-navigating-the-insurance-industry/ Tue, 09 May 2023 12:30:00 +0000 http://www.kuwaitfinancialexpress.com/?p=307547 Boston / London, May 09, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, has proudly published its second annual benchmark survey, the 2023 Global Consumer Insurance Insights. The survey reveals strong demand from global consumers for humanized insurance purchasing, switching and communication experiences through digital channels.

The 2023 wave of research – which is being launched at the Duck Creek Technologies Formation "23 event for customers and partners from May 8–10, was conducted independently by Research in Finance for Duck Creek Technologies and surveyed over 2,000 policyholders across 13 countries, all of whom held at least one insurance policy.

Aimed at refining the strategies that bring insurers closer to consumers worldwide, this year's survey is more extensive than the inaugural 2022 edition, with more questions and responses from policyholders across more countries. The survey provides insights for carriers, reflecting consumer preferences and awareness of innovation opportunities, purchasing, and communication methods.

Key findings from the survey include:

  • 93% of consumers are confident they have the proper coverage, irrespective of which channel they used to purchase the insurance policy.
  • Once a policy is in place, 44% of consumers prefer human interaction (2022: 35%). At the same time, however, interest in app/WhatsApp usage for buying and switching insurance also increased year–over–year.
  • 46% of global consumers are unaware of embedded insurance. Of those who were aware (37%), almost half said they trust it because of product or retailer quality. Those who do not trust it (26%) find embedded insurance unnecessary and expensive. Those who are unsure (29%) require more information, having had little experience with embedded insurance.

The survey reveals significant positives for insurance providers and clearly shows they are getting it right in many areas. However, it also highlights areas where insurers must reflect and improve further – including bolstering global consumer confidence and trust in insurance.

According to Jess Keeney, Chief Product & Technology Officer at Duck Creek, “As the insurance industry continues to evolve, it is crucial for providers to listen to the needs and preferences of their customers. The 2023 Duck Creek Technologies benchmark survey provides invaluable insights into consumer behaviors and trends, highlighting the areas where insurers can maximize accessibility, accelerate speed to market, and differentiate competitively."

While the survey shows that carriers around the world are responding quickly to consumer demand for more relevant and timely products and services, it also reveals that a significant number of consumers prefer a humanized experience when interacting with their insurance providers. This emphasizes the importance of exploring ground–breaking and varying communication options to meet the needs of diverse customers.

Keeney adds, "It is encouraging to see that despite the challenging economic environment, people are re–evaluating their insurance needs and considering a wider range of products. Mobile and gadget insurance, travel insurance, and embedded insurance are being purchased more frequently than other types of insurance.

Duck Creek's 2023 survey is a vital resource for insurance providers, offering unique insights into customer perceptions and highlighting the next opportunities for innovation. We urge providers to delve deeply into the results and continue pushing the frontiers of the insurance industry forward."

Research in Finance Head of Research, Karen Scott, added, "In the insurance industry, listening to consumers is essential for success. As the Global Consumer Insurance Insights Survey 2023 demonstrates, primary research capturing changing behaviors, user feedback, and satisfaction is invaluable to help inform insurance company strategies, new product development, marketing, and communications plans. Insurers now have access to significant data sets to compare year–on–year, creating a true benchmark series of reports we are proud to support. Ultimately, insurers who prioritize listening to and understanding their consumers will come out on top."

The 2023 Global Consumer Insurance Insights Survey highlights four key calls to action for insurers:

  1. Maximize accessibility of insurance products to consumers across channels
  2. Accelerate speed to market with the SaaS model
  3. Humanize the consumer experience through digital channels
  4. Leverage the SaaS ecosystem to differentiate competitively

Download the 2023 Global Consumer Insurance Insights Survey here.

About Duck Creek Technologies
Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market–leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information "" LinkedIn and Twitter.


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Mosa Meat Prepares for Market Entry by Opening Largest Cultivated Meat Campus in the World to date and Working with Two Michelin-starred Chef Hans van Wolde http://www.kuwaitfinancialexpress.com/mosa-meat-prepares-for-market-entry-by-opening-largest-cultivated-meat-campus-in-the-world-to-date-and-working-with-two-michelin-starred-chef-hans-van-wolde/ Tue, 09 May 2023 03:00:00 +0000 http://www.kuwaitfinancialexpress.com/?p=307546 MAASTRICHT, The Netherlands, May 08, 2023 (GLOBE NEWSWIRE) — Mosa Meat, the pioneers in the cultivated meat space that grow beef directly from animal cells, opened a new 2,760 square metre (29,708 square feet) scale–up facility in Maastricht on Monday. This fourth facility completes the new Mosa C.A.M.P.U.S. or Center for Advanced Meat Production, Upscaling, and Sustainability for a total footprint of 7,340 square metres (79,007 square feet).

Monday's program included a ribbon cutting ceremony with the Mayor of Maastricht Annemarie Penn–te Strake, the Governor of Limburg Emile Roemer, and the Mosa Meat team, a cultivated burger cooking demonstration by Chef Hans van Wolde, and tours of the new facility. A select group of 50 investors, journalists and value chain partners from around the world attended the event. The new facility will start the first production runs in a matter of days.

Mosa Meat CEO Maarten Bosch said: “As this scale–up facility comes online next month, we will have the capacity to make tens of thousands of cultivated hamburgers. The facility is designed to grow as demand increases with regulatory approvals and regional market entries, up to hundreds of thousands of cultivated hamburgers per year. And in combination with our contract manufacturer in Singapore, even a lot more. We are excited to debut this great tasting hamburger today that even hardcore carnivores will love."

Mosa Meat Co–founder & CSO Dr. Mark Post said: "When we introduced cultivated meat to the world, we predicted it would take 10 years to create a consumer product. Now, almost exactly 10 years later, we have a consumer product that we can start making in larger quantities and that we can start serving to consumers in Singapore, pending regulatory approval" said Mark Post, co–founder and Chief Scientific Officer of Mosa Meat.

Chef Hans van Wolden said: "When I first tried a Mosa Burger as part of the internal development team, I was blown away by the beefy taste and the amazing mouthfeel of the beef fat. It gave me goosebumps. I genuinely believe this new way of making beef can delight connoisseurs and casual beef lovers alike, while enjoying the positive benefits of cultivated beef from a sustainability perspective. I am excited to work with the Mosa Meat team to make future versions even better.

ABOUT MOSA MEAT

Mosa Meat is a global food technology company pioneering a cleaner, kinder way of making real beef. Our founders introduced the world's first cultivated beef hamburger in 2013, by growing it directly from cow cells. Founded in 2016, Mosa Meat is now scaling up production of the same beef that people love, but in a way that is better for people, animals, and the planet. A diverse and growing team of 165 food–loving problem–solvers, we are united in our mission to fundamentally reshape the global food system. Headquartered in Maastricht, The Netherlands, Mosa Meat is a privately held company backed by Blue Horizon, Bell Food Group, Nutreco, Mitsubishi Corporation, Leonardo DiCaprio and others. Follow Mosa Meat on Facebook, LinkedIn, Twitter and Instagram or visit mosameat.com to learn more about why people #cravechange.

For more information, reach out to press@mosameat.com.

Visual assets from the event will be loaded here by 17:00 CET on May 8th

https://drive.google.com/drive/folders/181Qd14IJ9QD55SfwarnohvzO5–rjxtHf

The general Mosa Meat press kit is here:

https://mosameat.com/press–kit

ABOUT CHEF HANS VAN WOLDE

Chef Hans is a Dutch 2–Michelin star chef who converted an old farmhouse outside Maastricht into his restaurant Brut172. Previouslyhe was the chef owner of 2–star restaurant Beluga in Maastricht and has been featured on TV shows like MasterChef and Snackmasters. He has formally joined Mosa Meat's product development, sensory evaluation and recipe formulation team to complement Mosa Meat's internal team of food scientists.

www.brut172.com

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