Rising Giants - July 2023 Newsletter
🚀 Welcome back to the NEW Rising Giants Newsletter sharing 3 Market Insights, 3 Job Opportunities and 3 Capital Raises that happened in Cambodia.
3️⃣ Key Market Insights in Cambodia
🟢 Cambodia Greenlights Manufacturing Investment Exceeding $50m
New investments in garment manufacturing are being attracted to Cambodia, with five companies being awarded investment plan registration certificates. These firms, with a combined investment of around US $52.2 million, plan to establish factories across the country, generating nearly 14,000 job opportunities. The garment sector in Cambodia is valued at US $7 billion and employs over one million workers, but there are ongoing challenges for predominantly female employees to benefit fully from their labor.
😤 Cambodian Digital Payments: Pumping On All Cylinders
Cambodia has witnessed a significant surge in mobile payments due to the introduction of innovative digital payment services by banks and financial institutions, meeting the rising demand in the new normal environment. The number of e-wallet accounts reached 19.5 million in 2022, with retail electronic payments increasing by 34% to KHR 1,110.6 trillion (approximately US$272 billion).
The rapid development of payment and settlement systems has greatly contributed to improving the efficiency, safety, and affordability of payment operations, aligning with the government's goal of promoting a digital economy and society.
Source: Macroeconomic and Banking Sector Development in 2022 and 2023 Outlook
Graph Sources: Cambodia Fintech 2021, Mekong Strategic Capital, National Bank of Cambodia
📖Handbook On Investing In Cambodia: DFAT Australia & CDC
DFAT Australia and the Council for the Development of Cambodia just released the 90 page handbook of investing in Cambodia. It covers a gamut of topics and is well worth a read and of note are the sections on priority sectors and the incentives under the new Law on Investment and implementing Sub-Decree.
3️⃣ Capital Raises in Cambodia
Amara Capital Strategic Investment Into KungFu Kitchen
Amara Capital, a fund management company in Cambodia, has made a strategic growth investment in KFK Holdings, a prominent F&B group known for its KungFu Kitchen brand. The partnership aims to fuel the growth of the industry in Cambodia, taking advantage of the country's young and middle-income population. Amara Capital plans to bring its financial and business strategies to unlock new growth opportunities for KFK Holdings and develop a strong F&B empire together.
Cellcard Raises $5.3M IPO on Cambodia’s Stock Market
CAMGSM (Cellcard), has successfully raised $5.3 million via an IPO on the Cambodia Securities Exchange (CSX), marking a milestone in the country's financial sector. The funds raised will be allocated towards network expansion, service enhancement, and offsetting existing debt. The IPO is set to boost CSX's market capitalization by almost 30%, underlining Cellcard's significant role in Cambodia's evolving securities market.
Sea Ventures Acquires Roadside Assistance App Gara
Sea Ventures, a collaboration between the Haystack Group and the Royal Group, has strategically acquired Gara, an innovative roadside assistance app. The acquisition comes as Camboticket.com, Sea Ventures’ primary platform and Cambodia’s leading transportation marketplace, gears up for major expansion after an overhaul by Haystack. The integration of Gara aligns with Sea Ventures’ mission to provide a comprehensive suite of services, making travel safer and more efficient for Cambodian motorists.
3️⃣ Startup Job Opportunities in Cambodia
Business Development Specialist - Tenbox
Wholesale e-commerce startup Tenbox is hiring for a Business Development Specialist in Phnom Penh, Cambodia. Tenbox recently recieved seed investment from Choice Accelerator in March 2023. The ideal candidate is a motivated, organized, and creative individual who welcomes the challenges of acquiring and developing new business through sales efforts. You will build key customer relationships, identify business opportunities, and close business deals while maintaining an extensive knowledge of current market conditions.
Back End Developer - SALATECH
Sala is an ed-tech startup that empowers Cambodian high school students to discover and pursue their passions. They connect students with the best educational and career opportunities through our online platform, where they can explore majors, colleges and careers that match their interests and goals. As a Back End Developer, the ideal candidate would be in charge of consistently raising the bar for user experience. Working behind the scenes, you will have a unique blend of technical expertise, insatiable curiosity, and analytical mindset.
Communications & Partnership Officer - Azaylla
Azaylla is a leading agriculture platform, solving one of the toughest supply chain problems of Cambodia through technology and market linkage. They connect vegetables, fruits farmers directly with businesses. The company is seeking a skilled professional with a passion for effective communication and strategic partnership building. If you're ready to make a lasting impact, they want to hear from you! Please email your CV to hr@azaylla.com and join them in shaping a brighter future together.
💥 Rising Giant’s Highlights & Recaps
Eps. 93: Ley Kamthong: Co-Founder & CEO of CheckinMe
Ley shares his journey of going abroad for university and work, how that inspired him to build his startups CheckinMe & PAPA Deliver, and how he focuses on understanding how to scale a business. CheckinMe is a SaaS business that automates the workplace via a attendance recoding solution through QR code mobile technology, with plans for future product rollouts.
Eps. 92 Lida Loem: Co-Founder & Technical Advisor, SHE Investments
Lida has been co-designing and leading the delivery of SHE Incubator, Accelerator, Financial Literacy, and Investment Readiness Programs with hundreds of women each year since March 2015. With over 10 years’ experience in Facilitation and Training, Lida is also a certified BDS Counsellor with UNIDO under CAPFish Project.
Heading into August 2023, we are excited to announce our lineup for Episodes 94 and 95, including:
Eps. 94: Richard Yim - CEO at Quantum Engineering and Manufacturing
Eps. 95: Sopheak Chheng - Content Creator and Host of Rean Podcast
One last thing: Welcome Sopheaktra Dim (Din) Rising Giant’s new Operations Assistant!
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