Welcome!

@CloudExpo Authors: Kevin Jackson, Xenia von Wedel, William Schmarzo, Elizabeth White, Liz McMillan

News Feed Item

Ecologic Completes First Transaction in The Republic of Zambia

WASHINGTON, Dec. 12, 2012 /PRNewswire/ -- Ecologic Leasing Services announced today that the company has completed its first equipment financing transaction in the Republic of Zambia in Southern Africa.

Doug Slais, Ecologic's Vice President of Capital Sourcing, said, "Ox Drilling Limited in Ndola needed a new drill rig for their expanding business for approximately US $500,000. Ox also wanted to use financing as a tool to align their monthly revenues from their drilling projects to their monthly expenses for the rig and improve cash flow. Our capital sourcing team here at Ecologic worked with the manufacturer's local sales team to listen to Ox Drilling's requirements, evaluate their credit, and structure a transaction that met their needs."

Slais continued, "We then tapped Alios Finance in Lusaka, a member of The Global Lessor Network, to finance the transaction. James Muwowo and Ali Saib Diallo of Alios listened to the opportunity and immediately immersed themselves in the transaction. We expect to do a lot more leasing and financing transactions in Zambia, which is a leader in economic growth among the members of the Common Market for Eastern and Southern Africa (COMESA). We also expect to do a lot more with Alios. They were a great partner and easy to work with."

According to World Bank lead economist Praveen Kumar, speaking yesterday in Lukasa, Zambia's capital, "Zambia's economy is expected to grow by 7.3 percent this year, slightly higher than the 6.8 percent growth rate of 2011. The economy has seen robust growth during 2012 in construction, transport and communication services, manufacturing, and agriculture," he said.

Michael Keeler, Ecologic's CEO said, "Ecologic Leasing Service provides equipment financing outsourcing services to global companies – both international lessees and manufacturers. We source capital for our clients through The Global Lessor Network (GLN), a community of more than 500 lessors from around the world who are ready to provide local leasing expertise and transact with lessees that fit their credit appetite, equipment interests, and geographic footprint. That's how we engaged Alios for this deal."

Keeler continued, "While we run a variety of leasing programs for global manufacturers, over the last few years we have seen considerable growth from manufacturers who already have a mature vendor program that they run themselves or in partnership with an international lessor, such as DLL, CIT, GE Capital, Macquarie, or Societe Generale. Because the footprint of these lessors is typically limited to western industrialized and commonwealth countries, manufacturers engage Ecologic and the GLN to help them finance transactions everywhere else that they sell. Most manufacturers sell in well over 100 countries, while most of these lessors operations are limited to just 20-30 countries.

"Because we use local capital and expertise, we are not limited to bricks and mortar like banks. We can help our clients create incremental sales through financing in any country where they sell equipment and capital is available. So, many of our manufacturer financing programs and transactions are in emerging markets, especially Africa, Latin America, South and South-east Asia, and the Middle-East."

Keeler explained how the GLN works: "New lessors register at www.lessornetwork.com for free by completing a profile about their company and the type of transactions they want to see. Our Capital Sourcing team will then interview the lessor and review their profile. When the Capital Sourcing team accepts the lessor's profile, it becomes immediately available in Lease Accelerator, our web-based software service, which is used by our clients around the world to manage their leasing process, and perform GAAP-FASB lease accounting, including Cisco, Cummins, Eaton, Allegheny Technologies and NetApp – even not-for-profit hospital systems, such as Ascension Health use Lease Accelerator."

About Ecologic Leasing Services:

Ecologic Leasing Services develops, sells, and supports Lease Accelerator, a suite of software and outsourcing services for global equipment manufacturers and lessees, delivered as a service (SaaS). Lease Accelerator software service is available today over the web at www.leaseaccelerator.com. It includes access to The Global Lessor Network (GLN), standardized contracts, expert support, and outsourcing services.

Using the GLN, global companies with a need for in-country leasing expertise and financing can identify and transact with local lessors. Since 2001, Lease Accelerator and the GLN have supported transactions in 45 countries, spanning a wide variety of asset types, including corporate aircraft, construction, forklifts, furniture, IT, mining, networking, and transportation equipment. Lessors are encouraged to register for the GLN at www.lessornetwork.com. Registration is free of charge.

LOGO 300dpi: Send2Press.com/mediaboom/12-1212-globlessr_300dpi.jpg

This release was issued on behalf of the above organization by Send2Press(R), a unit of Neotrope(R). http://www.Send2Press.com

SOURCE Ecologic Leasing Services

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@CloudExpo Stories
Sometimes I write a blog just to formulate and organize a point of view, and I think it’s time that I pull together the bounty of excellent information about Machine Learning. This is a topic with which business leaders must become comfortable, especially tomorrow’s business leaders (tip for my next semester University of San Francisco business students!). Machine learning is a key capability that will help organizations drive optimization and monetization opportunities, and there have been some...
"Storpool does only block-level storage so we do one thing extremely well. The growth in data is what drives the move to software-defined technologies in general and software-defined storage," explained Boyan Ivanov, CEO and co-founder at StorPool, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Blockchain. A day doesn’t seem to go by without seeing articles and discussions about the technology. According to PwC executive Seamus Cushley, approximately $1.4B has been invested in blockchain just last year. In Gartner’s recent hype cycle for emerging technologies, blockchain is approaching the peak. It is considered by Gartner as one of the ‘Key platform-enabling technologies to track.’ While there is a lot of ‘hype vs reality’ discussions going on, there is no arguing that blockchain is b...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, discussed the b...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
Is advanced scheduling in Kubernetes achievable?Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, answered these questions and demonstrated techniques for implementing advanced scheduling. For example, using spot instances and co...
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
The use of containers by developers -- and now increasingly IT operators -- has grown from infatuation to deep and abiding love. But as with any long-term affair, the honeymoon soon leads to needing to live well together ... and maybe even getting some relationship help along the way. And so it goes with container orchestration and automation solutions, which are rapidly emerging as the means to maintain the bliss between rapid container adoption and broad container use among multiple cloud host...
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.
The need for greater agility and scalability necessitated the digital transformation in the form of following equation: monolithic to microservices to serverless architecture (FaaS). To keep up with the cut-throat competition, the organisations need to update their technology stack to make software development their differentiating factor. Thus microservices architecture emerged as a potential method to provide development teams with greater flexibility and other advantages, such as the abili...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
Leading companies, from the Global Fortune 500 to the smallest companies, are adopting hybrid cloud as the path to business advantage. Hybrid cloud depends on cloud services and on-premises infrastructure working in unison. Successful implementations require new levels of data mobility, enabled by an automated and seamless flow across on-premises and cloud resources. In his general session at 21st Cloud Expo, Greg Tevis, an IBM Storage Software Technical Strategist and Customer Solution Architec...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...