IMC, JePharma join hands with IRI

Updated 13 June 2015
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IMC, JePharma join hands with IRI

Launched last month, the Islamic Reporting Initiative (IRI) has rapidly gained momentum and support from businesses, government organizations, non-profit organizations and educational institutions from all over the world.
With the potential of being of immediate benefit in more than 50 countries, the IRI is aiming to create the first, mainstream reporting standard for corporate sustainability and social responsibility based on Islamic principles.
The latest organizations to partner with the IRI include the International Medical Centre (IMC) in Jeddah, and Jerusalem Pharmaceuticals (JePharma), a major publicly listed company in Palestine. Partnerships with the IMC and JePharma will bring extensive insight from the health care industry to the development of the IRI.
Dr. Iyad Masrouji, CEO of Jerusalem Pharmaceuticals, said: “As a partner, we intend to contribute insight to form a tool that facilitates prosperous conditions for all, and we hope to make a lasting impression in the way CSR reporting will be conducted in the future.”
The Middle East University in Jordan was one of the first signatory members of the initiative. Dr. Abdel-Aziz Sharabati, head of the management, marketing and e-Business department, said: “As a national education institution, what we perceive to be a long-standing challenge is a mismatch between the skills developed through education and those needed for employment.”
Earlier last week, the IRI announced its partnership with the Social Stock Exchange (SSX) to work toward compatibility with their standards. With a market capitalization of 1.25 billion pounds, the SSX is the first international stock exchange exclusive to responsible business.
Daan Elffers, founder of the IRI, and chairman of last year’s CSR Summit in Saudi Arabia, said: “Responsibility reporting is moving into a new phase; no longer a top-line or reputational activity, responsibility reporting is becoming a critical factor in investment decisions.”


Ascott debuts in Africa with Kwarleyz Residence

Updated 15 October 2018
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Ascott debuts in Africa with Kwarleyz Residence

The Ascott Limited has cemented its footprint on the African continent with the opening of its first property in Accra, the capital of Ghana. Kwarleyz Residence, which is managed by Ascott, will be the first upscale international -class serviced residence to enter the flourishing Ghanaian market.
Thomas Wee, Ascott’s deputy managing director for the Middle East, Africa, Turkey and India, said: “Ascott has been managing world-class serviced residences globally for over 30 years. The opening of our first property in Africa, Kwarleyz Residence, enables our worldwide network of corporate clients and the growing international travelers to experience Ascott’s award-winning hospitality on another continent.
“Africa is the world’s second fastest-growing economy after Asia and we see great potential in the region’s hospitality market. Africa’s huge economic growth is fueled by massive infrastructure development, favorable investment policies, and a young population.
With our strong expertise in hospitality management, Ascott aims to set the benchmark in the region by offering business and leisure travelers world-class extended stay accommodation and superior customer service.”
Wee added: “In addition to Kwarleyz Residence, we have secured a contract to manage Ascott 1 Oxford Street which will open in the heart of Accra in 2019.”
Located in the upscale airport residential district, Kwarleyz Residence is surrounded by embassies and the headquarters of gold mining companies. About a five-minute drive from the Kotoka International Airport, the property is within easy access to the Marina Mall at Airport City and Tema Industrial City, via the motorway.
Vincent Miccolis, Ascott’s regional general manager for the Middle East, Africa and Turkey, said: “We are proud to partner with Wonda World Estates to bring the first-of-its-kind hospitality offering to the Ghanaian capital and introduce sophisticated living in Accra with the opening of Kwarleyz Residence.”
Nana Kwame Bediako, president for the Kwarleyz Group of companies, which includes Wonda World Estates, said: “We see this collaborative project with our colleagues at Ascott as another example of Wonda World Estates, Kwarleyz Group, Cola Group and Kensington Residential Partners showcasing, either individually or as a collective, a commitment to the improvement of emerging markets across the African landscape.”
The 40-unit serviced residence provides a variety of studio and one- to three-bedroom apartments.
The property includes facilities such as a restaurant, coffee lounge, sky bar, rooftop garden and basement parking. Guests can relax and rejuvenate in the gymnasium, outdoor pool or spa.
The International Monetary Fund forecasts that Africa’s economy will be the second fastest growing in the world with an annual growth rate of 4.3 percent from 2016 to 2020. Ghana is ranked Africa’s fifth most attractive investment destination. Its foreign direct investment increased by nine percent to a record $3.5 billion in 2016.