Novus Loyalty Ltd Secures Contract with Bank of Abyssinia, Ethiopia
Novus Loyalty Ltd announced the receipt of a Notification of Award from Bank of Abyssinia in Addis Ababa, Ethiopia. The contract is for the implementation of an Enterprise-Wide Loyalty Program Management Solution (EWLPMS).The total aggregate value of the awarded contract is USD 407,500 (United States Dollars Four Hundred Seven Thousand Five Hundred Only).
This contract signifies the company's expanding global presence and its capacity to deliver enterprise-scale loyalty and engagement solutions within international markets.
The services covered under the contract include the provision of Enterprise-Wide Loyalty Program licensing, implementation, customization, Management Solution (EWLPMS), along with necessary training and support services.
Contract Details
The awarding entity for the contract is Bank of Abyssinia, located in Addis Ababa, Ethiopia. The contract is categorized as an award from an International Entity.A table below outlines the key financial and structural details of the awarded contract.
| Particulars | Details |
|---|---|
| Name of the entity awarding the order(s)/Contract(s) | Bank of Abyssinia, Addis Ababa, Ethiopia |
| Nature of order(s) / contract(s) | Provision of Enterprise-Wide Loyalty Program Management Solution (EWLPMS), including licensing, implementation, customization, training, and support services. |
| Broad consideration or size of the order(s) / contract(s) | USD 407,500 (United States Dollars Four Hundred Seven Thousand Five Hundred Only) |
| Whether order(s)/contract(s) have been awarded by domestic / international entity | International Entity |
| Significant terms and conditions of order(s)/contract(s) awarded in brief | The total contract value includes licensing, implementation, training, and support services. Applicable local taxes shall be borne by the Bank. A performance guarantee of 10% of the contract value is required. |
| Time period by which the order(s) / contract(s) is to be executed | As per the terms of the contract agreement to be executed between the parties. |
The details confirm that neither the promoter nor the promoter group nor any group companies have an interest in Bank of Abyssinia. Furthermore, the order does not fall within related party transactions.
Stock Price Movement
As of the close on Friday, Novus Loyalty Ltd finished the day at ₹160.95, climbing up 4.99%. Throughout the session, the shares saw notable movement, trading within a range between ₹157.00 and ₹160.95.Source:
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