Business Latin America

  Airlink expands flight operations to Ecuador, Panama, others The airline has also appointed AVIAREPS as its General Sales Agents (GSA) in Latin America to promote its convenient schedule of flights which serve an unparalleled network of routes currently connecting 45 destinations throughout Southern Africa. Source: Vanguard News Southern Africa’s premier airline, Airlink, has expanded its Latin American marketing and sales footprint to Ecuador, Panama, and Peru. AVIAREPS will represent and raise Airlink’s brand visibility in the three new markets and will support the airline’s drive to increase its share of inbound travel to Southern Africa from Argentina, Brazil, Chile, Columbia, and Mexico, where Airlink already enjoys a presence. According to the Airlink CEO and Managing Director, Rodger Foster, “South America represents a significant market, not just for Airlink, but for businesses, entrepreneurs, and leisure travelers. South-South economic activity is increasing, i...

  Boeing Forecasts Latin America and Caribbean Region to Need 2,240 New Planes by 2041 With Latin American air travel outpacing the industry’s global recovery, Boeing has forecast the region’s commercial fleet to grow by more than 85% over the next 20 years, fueled by the strength of domestic and intra-regional travel. In total, the Latin American and Caribbean region will need 2,240 new airplanes by 2041, according to Boeing’s 2022 Commercial Market Outlook (CMO). Source: Travel News Asia The annual projection for commercial airplanes and services, forecasts that more than 2,000 single-aisle deliveries will more than double the current fleet to serve popular leisure routes between North America, Mexico and Caribbean, while also expanding intra-regional networks. As the fleet grows, demand for commercial aviation services will grow as well, reaching $165 billion in value over the forecast period. “Latin America has seen a strong recovery in air travel, particularly in dom...

  Rapyd Research Highlights Latin America as a Global Leader in Payments and Fintech New data from Argentina, Brazil, Chile, Colombia, Mexico and Peru provides country-by-country analysis on preferred methods for workers to be paid; uncovers growing opportunity for global businesses to reach LATAM consumers in an increasingly digital world. Source: Business Wire Rapyd, the leading fintech-as-a-service partner, today released its 2022 Latin America State of Disbursements Report. The report analyzes the findings of a survey Rapyd conducted in June 2022 to more than 3,000 online consumers in Argentina, Brazil, Chile, Colombia, Mexico and Peru on their most-commonly used and preferred ways to get paid. The findings illustrate that with the region’s hypergrowth in local and cross-border business, LATAM is emerging as a primary market for expansion by global businesses. Contractors, workers and suppliers are seeking quick and secure payouts and disbursements in their preferred meth...

  DMCC and Panama’s Logis AgriLogistics Sign MoU to Facilitate Collaboration Between the Two Free Zones The MOU will see DMCC and Logis work together to explore potential areas of cooperation between the two free zones  . The two parties will work together to promote the development of commodities trading in both free zones. Source: DMCC DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has signed a Memorandum of Understanding (MOU) with Logis, an agri-logistic free trade zone that is being constructed in Panama. Once completed, Logis will be the largest free trade zone of its kind in Central and Latin America. The MOU will see DMCC and Logis work together to exchange knowledge and expertise to support the continued development of thriving commodities marketplaces in both free zones. The MOU was signed by Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, and Sandro Salsano, President o...

  FreeYond disrupts the Latin American smartphone market with the F9 and M5 With the launch of the FreeYond F9, and the upcoming release of the FreeYond M5, FreeYond is entering the Latin American market as a challenger to the status quo. FreeYond brings the most cost-effective smartphone models yet to Latin America’s market with specs that match or surpass similar higher-priced offerings from other brands. New smartphone models: the most cost-effective at their respective price points  Source: Asia One Recently launched in October, the FreeYond F9 brings next-level value to the ~$100 price point, in a stylish package. The phone features a real dual camera, and the integrated design between the lens module and body achieves a striking visual unity often only seen in flagship smartphone models.   The phone’s specifications include: Dual camera (13MP main camera + 2MP macro camera) Up to 128GB memory 800M front camera (rare for smartphones at this price point) ...

  Trulioo Expands Digital Identity Verification Across Latin America Access in Dominican Republic and Uruguay, new data sources in Colombia and Mexico strengthen regional coverage Source: Business Wire Trulioo, a leading global identity verification company, has updated its coverage across Latin America, expanding access to the Dominican Republic and Uruguay and significantly strengthening data sources in Colombia and Mexico. Those additions bolster the company’s ability to serve customers streamlining operations in Latin America or entering the region. “The establishment and expansion of identity data partnerships across Latin America is integral to our continued ability to meet the evolving needs of our customers around the world” The enhanced Latin American coverage will enable organizations to reliably verify attributes such as age, identity and address to adhere to Know Your Customer, Know Your Business and Anti-Money Laundering regulations. Address standardization a...

  Tienda Pago Raises $12M to Keep Helping Small Convenience Stores in Peru and Mexico The Women's World Banking Asset Management and IDC Ventures lead a Series B round of financing to promote financial inclusion in Peru and Mexico. Three out of four stores can't afford the stock they need for their clients, and only half of the stores have access to enough credit. Source: PR Newswire Tienda Pago, the leading short-term credits lender based in Peru and Mexico, has announced closing a Series B investment led by the Women's World Banking Asset Management and IDC Ventures for $12 million. Tienda Pago's innovative partnerships, technology, and process have attracted impact investors and traditional VCs. Women's World Banking Asset Management and IDC Ventures led this Series B round of investment in which Alumni Fund contributed as a new investor. Current investors Kaszek, QED, Agrega Partners, Accion Venture Labs, and Oiko Credit also participated in this round. ...

  International Holding Company (IHC)  steps into Latin America with US$200 million investment in Lulo Colombia S.A . Colombia is the fourth global market IHC steps into in 10 months. The investment represents 49.9% of Lulo Bank's ownership. Lulo bank is the first fully digitalised bank in Colombia. Source: SAWYA Abu Dhabi, UAE: International Holding Company PJSC (ADX: IHC), the diversified Abu Dhabi-based conglomerate, has announced today a capital investment of  AED 734 million (USD 200 million) in Lulo Colombia S.A., which is also the holding company of Colombia’s first regulated digital bank, Lulo Bank S.A. (“Bank”), through one of IHC’s subsidiaries. Lulo Bank is a fast-growing and new player that enters the field of neobanks in the Colombian market and plans to expand into other Latin American markets. The Bank was founded by Jaime Gilinski, a Colombian businessman with over 45 years of banking experience in Latin America, North America, and Europe. Commen...

  Emergent Cold Latin America will acquire the storage operations of Frigorífico Modelo Emergent Cold Latin America (Emergent Cold LatAm or the Company), the fastest growing provider of cold storage and logistics services in Latin America, today announced the signing of a definitive agreement to acquire the cold storage operations of Frigorífico Modelo ( Frimosa), a leading agribusiness and logistics company based in Montevideo, Uruguay. This transaction is subject to customary closing conditions, including approval at an Extraordinary General Meeting of Frimosa shareholders, with closing expected in December 2022. Source: Business Wire The acquisition will expand the Company's presence in Uruguay and add Paraguay to the growing regional network As part of the proposed transaction, Emergent Cold LatAm will acquire Frimosa's main West Pole facility, consisting of a 22,000-pallet position cold storage facility, a separate bonded warehouse and substantial land for expansion. In ad...

  ENGIE closes agreement with VESTAS to implement largest wind project in Latin America The firm order includes the initial supply, installation, operation and maintenance of 120 V150 – 4.5 MW turbines for the 540 MW first phase of Serra de Assuruá. In addition to phase 1, the contract includes the option for ENGIE to purchase another 68 units by the end of 2022 for phase two of the wind park. Vestas will also deliver a 25 year active output management 5000 (AOM 5000) service agreement. This agreement will optimise energy production while also providing long-term business case certainty. Source: Energy Global Engie Brasil Energia SA has signed an agreement with Vestas for the Serra de Assuruá wind park in the state of Bahia, in the municipality of Gentio do Ouro, Brazil. The project has a total nameplate capacity of 846 MW once fully installed, making it the largest wind project in Latin America. The firm order includes the initial supply, installation, operation and mainte...