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The year 2022 was an extraordinary year for Union Bank of Nigeria (“Union Bank”). The LeadA leading financial institution celebrated its 105th year of serving Nigerians by announcing the completion of a landmark transaction that saw the bank integrate with Titan Trust Bank to form a stronger union. This announcement kicked off several important milestones and events and Union Bank is pleased to summarize these milestones that the Bank achieved in 2022. The highlights of each month are summarized below under their respective headings.
January 2022
Union Bank celebrates its 105th year of operations as Titan Trust Bank receives the go-ahead from regulators for official integration. The merger of both entities created expanded networks, greater efficiency and operational capacity, as well as better service delivery for customers. The new direction put Union Bank on the path to deliver prosperity and shared growth for its partners and clients across the African continent.
February 2022
As part of its commitment to go beyond banking to promote innovation and creativity across the country, Union Bank partnered with AfricaNXT, formerly known as Social Media Week, to host Africa's largest gathering of innovators. As an organization focused on accelerating digital innovation, Union Bank showcased some of its 'Digital Ventures' products (Kula, Booster and M36) at the event via an interactive booth. The Bank also organized two information sessions, a round table and a master class, focused on the technological ecosystem.
March 2022
As an organization committed to leading the charge for inclusion and parity, Union Bank has consistently seized on International Women's Day (International Women's Day) to promote powerful discourse and encourage positive action for gender equality. 2022 was no different. In line with the 2022 global theme #BreakTheBias, the Bank hosted an event to celebrate everyday women breaking down prejudices and barriers in their professional and personal lives. A key aspect of the event was the inauguration for the first executives of Wehub, Union Bank's Women's Empowerment Center, an internal network launched in 2016 to motivate, connect and support women within the Bank. The newly elected executives were tasked with driving the implementation of impactful initiatives aimed at advancing the Bank as a progressive workplace.
April 2022
As part of its 'Beyond Banking' strategy and commitment to innovation and technological advancement in Nigeria, Union Bank has launched SpaceNXT, a purpose-built and forward-thinking co-working technology and innovation hub created to promote innovation and foster collaboration within the tech ecosystem in Nigeria. . . Located inside the Union Bank headquarters in lakes, Nigeria, SpaceNXT provides an enabling environment where technology enthusiasts, visionaries and creators can converge for the spread of new ideas. It is a launching pad for innovators to collaborate, develop, and improve ideas on digital systems and technology-based solutions.
May 2022
After completing the official integration and subsequent receipt of all necessary regulatory approvals, Union Bank published a formal notice of change of control with TTBthe father of TGI Group, now the majority shareholder and principal investor in Union Bank. In addition to this, the Bank also announced the completion of the sale of the Bank's entire equity interest (direct and indirect) in its subsidiary, Union Bank (United Kingdom) plc (“BUK“) and the effective appointment of an Executive Director, Chairman of the Board of Directors, and the reconstitution of a new Board of Directors. The new CEOMr. Mudasir Amray and Chairman of the Board, Farouk Gumelhe took office on June 2, 2022.
June 2022
Leading development bank Afrexim Bank backed Titan Trust Bank in the amount of $300,000,000 to support the integration with Union Bank. This is to ensure that the Bank is well positioned to deliver value to its customers and shareholders.
July 2022
Following a successful first season, Union Bank announced the return of the Save & Win promotion, its flagship campaign aimed at rewarding new and existing customers with cash rewards and other gift items worth over N55,000,000. The second edition of the nationwide campaign coincides with the Bank's 105th anniversary and will benefit more customers to thank them for their support and loyalty over the years.
August 2022
As part of its ongoing commitment to the UN SDGs 5, Union Bank continued its long-standing partnership with Junior Achievement Nigeria (JAN) to impact more than 300 girls, at the 21st edition of the Leadership Development and Empowerment (LEAD) Camp that marked the eighth year of collaboration between JAN and Union Bank. The week-long event was used to mentor and improve girls' skills in the areas of financial education, entrepreneurship, technology, creative arts, and entertainment. Program development sessions included coding, understanding sexual abuse and personal hygiene, while participants were also mentored by respectable and high-ranking women in the country's public and private sectors.
September 2022
Mr. Farouk Gumel, Chairman of the Board of Directors of Union Bank of Nigeria, delivered the keynote address which was part of the theme of the 15th Annual Banking and Finance Conference titled Repositioning the Financial Services Industry for a Global Context in evolution. In his remarks, Farouk Gumel emphasized how the rapidly expanding agricultural sector in Nigeria has the potential to grow exponentially and contribute not only to the advancement of the Nigerian economy, but also to the well-being of local farmers who make up a large percentage of the not banked.
He highlighted how Union Bank in its 105-year history continues to support the Nigerian farmer, noting that the recent integration with parent group TGI has opened up further opportunities for the Bank to leverage international partnerships to serve the rural economy.
In the same month, Union Bank partnered with WACOT limited rice, a leading rice production company and a subsidiary of Tropical General Investment (TGI) Group, to provide banking solutions to 6,000 local farmers, including men, women and youth in 4 local government areas. in the state of kebi. This partnership, called the Kebbi Financial Inclusion Drive, is in line with Union Bank's commitment to boost financial inclusion in Nigeria.
October 2022
Union Bank has signed a partnership with Mobihealth, a globally recognized integrated telehealth provider based in the UK, facilitating healthcare solutions for underserved communities in Africa. This first-of-its-kind partnership is part of Union Bank's commitment to enabling its customers to succeed. The Bank aims to leverage this partnership to expand access to convenient, high-quality healthcare services for its clients at reduced rates. In addition, Union Bank also secured a $25 million financing facility from the Africa Trade and Agriculture Investment Fund (AATIF) to expand its agricultural business footprint in Africa. This financing is intended to support the Bank's agricultural extension and expansion strategy and is expected to further contribute to the growth of a competitive food and agricultural sector in Nigeria that is fully aligned with national priorities, including improving food security, the increase of agricultural and local production. food production. processing.
November 2022
To expand its presence in Africa, Union Bank signed a memorandum of understanding with Attijariwafa Bank, a leading multinational financial services and commercial banking company headquartered in Morocco. Through this partnership, both banks will develop new joint business opportunities for their respective clients seeking to support trade finance and investment corridors between Nigeria and all countries where Attijariwafa bank operates.
December 2022
To close out its 105th anniversary activities, Union Bank launched a new sound identity called 'The Sound of Union'. The release of Sound of Union, a 9-track EP spanning different genres including Afrobeats, Highlife, Jazz, Alternative Rock and more, is part of the bank's strategy to engage with today's and tomorrow's generations. The goal of the release is to harness the universality of music to build better connections with new and existing audiences through this unique sonic identity.
TheSoundof UnionEP is now streaming exclusively on Boomplay. Awards and Recognitions: In 2022, the Bank received several awards and recognitions both locally and globally, including the 2023 Global Finance Best Bank for SMEs, Euro Money Euromoney 'Highly Regarded' Bank for Corporate Banking, Corporate and Social Responsibility (CSR) and Environmental, Social and Governance and 'Notable' Bank for SME Banking and Digital Solutions.
We also received the Middle East and Africa Banking Innovation Awards for Best Enterprise Finance Platform 2022, and Budgit's Active Corporate Citizens Award for Civic Investments. Please note that, as a summary, this is not a complete list of the bank's events and activities during each period indicated. As we look to 2023, Union Bank remains committed to providing simpler and smarter solutions for its customers.
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The year 2022 was an extraordinary year for Union Bank of Nigeria (“Union Bank”). The leading financial institution celebrated its 105th year of serving Nigerians by announcing the completion of a landmark transaction that saw the bank integrate with Titan Trust Bank to form a stronger union. This announcement kicked off several important milestones and events and Union Bank is pleased to recap these milestones that the Bank achieved in 2022. The highlights for each month are summarized below under their respective headings.
January 2022
Union Bank celebrates its 105th year of operation as Titan Trust Bank receives the go-ahead from regulators for official integration. The merger of both entities created expanded networks, greater operational efficiency and capacity, as well as better service delivery for customers. The new direction put Union Bank on a path to deliver prosperity and shared growth for its partners and clients across the African continent.
February 2022
As part of its commitment to go beyond banking to promote innovation and creativity across the country, Union Bank partnered with AfricaNXT, formerly known as Social Media Week, to host Africa's largest gathering of innovators. As an organization focused on accelerating digital innovation, Union Bank showcased some of its 'Digital Ventures' products (Kula, Booster and M36) at the event via an interactive booth. The Bank also organized two information sessions, a panel discussion and a master class session, targeting the technology ecosystem.
March 2022
As an organization committed to leading the charge for inclusion and parity, Union Bank has consistently used International Women's Day (IWD) to promote powerful discourse and encourage positive action for gender equality. 2022 was no different. In line with the 2022 global theme #BreakTheBias, the Bank hosted an event to celebrate everyday women breaking down prejudices and barriers in their professional and personal lives. A key aspect of the event was the inauguration for the first executives of Wehub, Union Bank's Women's Empowerment Center, an internal network launched in 2016 to motivate, connect and support women within the Bank. The newly elected executives were tasked with driving the implementation of impactful initiatives aimed at advancing the Bank as a progressive place to work.
April 2022
As part of its 'Beyond Banking' strategy and commitment to innovation and technological advancement in Nigeria, Union Bank launched SpaceNXT, a purpose-built and forward-thinking coworking technology and innovation hub created to promote innovation and foster collaboration within the technology ecosystem in Nigeria. . Located within Union Bank's head office in Lagos, Nigeria, SpaceNXT provides an enabling environment where technology enthusiasts, visionaries and creators can converge for the spread of new ideas. It is a launching pad for innovators to collaborate, develop, and improve ideas on digital systems and technology-based solutions.
May 2022
After completing the official integration and subsequent receipt of all necessary regulatory approvals, Union Bank published a formal notice of change of control with TTB's parent TGI Group, now the majority shareholder and principal investor in Union Bank. In addition to this, the Bank also announced the completion of the divestiture of the Bank's full equity interest (direct and indirect) in its subsidiary, Union Bank (UK) Plc ("UBUK") and the effective appointment of an Executive Director, Chairman of the Board of Directors, and the reconstitution of a new Board of Directors. The new CEO, Mr. Mudassir Amray and Chairman of the Board, Farouk Gumel, took office on June 2, 2022.
June 2022
Leading development bank Afrexim Bank backed Titan Trust Bank in the amount of $300,000,000 to support the integration with Union Bank. This is to ensure that the Bank is well positioned to deliver value to its customers and shareholders.
July 2022
Following a successful first season, Union Bank announced the return of the Save & Win Promo, its flagship campaign aimed at rewarding new and existing customers with cash rewards and other gift items worth over N55,000,000. The second edition of the nationwide campaign coincides with the Bank's 105th anniversary and will benefit more customers to thank them for their support and loyalty over the years.
August 2022
As part of its ongoing commitment to UN SDG 5, Union Bank continued its longstanding partnership with Junior Achievement Nigeria (JAN) to impact over 300 girls, at the 21st edition of the Leadership Development and Empowerment Camp ( LEAD) which marked the eighth year of collaboration between JAN and Union Bank. The week-long event was used to mentor and improve the girls' skills in areas of financial education, entrepreneurship, technology, creative arts, and entertainment. Development sessions on the show included coding, understanding sexual abuse and personal hygiene, while participants were also mentored by respectable and high-ranking women in the country's public and private sectors.
September 2022
Mr. Farouk Gumel, Chairman of the Board of Union Bank of Nigeria, delivered the keynote address which was part of the theme of the 15th Annual Banking and Finance Conference entitled Repositioning the Financial Services Industry for a evolving global context. In his remarks, Farouk Gumel emphasized how the rapidly expanding agricultural sector in Nigeria has the potential to grow exponentially and contribute not only to the advancement of the Nigerian economy, but also to the well-being of local farmers who make up a large percentage of the not banked.
He highlighted how Union Bank in its 105-year history continues to support the Nigerian farmer, noting that the recent integration with parent group TGI has opened up further opportunities for the Bank to leverage international partnerships to serve the rural economy.
In the same month, Union Bank partnered with WACOT Rice Limited, a leading rice-producing company and a subsidiary of Tropical General Investment (TGI) Group, to provide banking solutions to 6,000 local farmers, including men, women and youth in 4 local government areas. in the state of Kebbi. This partnership, called the Kebbi Financial Inclusion Drive, is in line with Union Bank's commitment to boost financial inclusion in Nigeria.
October 2022
Union Bank has signed a partnership with Mobihealth, a globally recognized integrated telehealth provider based in the UK, facilitating healthcare solutions for underserved communities in Africa. This first-of-its-kind partnership is part of Union Bank's commitment to enabling its customers' success. The Bank aims to leverage this partnership to expand access to convenient, high-quality healthcare services for its clients at reduced rates. In addition, Union Bank also secured a $25 million financing facility from the Africa Agriculture and Trade Investment Fund (AATIF) to expand its agricultural business footprint in Africa. This financing is intended to support the Bank's agricultural extension and expansion strategy and is expected to further contribute to the growth of a competitive food and agriculture sector in Nigeria that is fully aligned with national priorities, including improving food security, increase in agricultural production and local food production. processing.
November 2022
To expand its presence in Africa, Union Bank signed a memorandum of understanding with Attijariwafa Bank, a leading multinational financial services and commercial bank company based in Morocco. Through this partnership, both banks will develop new joint business opportunities for their respective clients looking to support trade finance and investment corridors between Nigeria and all countries where Attijariwafa bank operates.
December 2022
To close out its 105th anniversary activities, Union Bank launched a new sound identity labeled 'The Sound of Union'. The release of Sound of Union, a 9-track EP spanning different genres including Afrobeats, Highlife, Jazz, Alternative Rock and more, is part of the Bank's strategy to engage with today's and tomorrow's generations. The goal of the release is to harness the universality of music to build better connections with new and existing audiences through this unique sonic identity.
TheSoundof UnionEP is now streaming exclusively on Boomplay. Awards and Recognitions: In 2022, the Bank received several awards and recognitions both locally and globally, including the 2023 Global Finance Best Bank for SMEs, Euro Money Euromoney 'Highly Regarded' Bank for Corporate Banking, Social Responsibility and Corporate (CSR) and Environmental, Social and Governance and 'Notable' Bank for SME Banking and Digital Solutions.
We also received the Middle East and Africa Banking Innovation Awards for Best Business Finance Platform 2022, and the Budgit Active Corporate Citizens Award for Civic Investments. Please note that, as a summary, this is not a complete list of the bank's events and activities during each period indicated. As we look to 2023, Union Bank remains committed to providing simpler and smarter solutions for its customers.
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Credit: https://www.newtelegraphng.com/towards-stronger-union-bank-post-105-years-service/
Tingg, Cellulant’s (https://www.Cellulant.io) acclaimed payment platform has been recognized as the ‘Merchants Payment Company of the Year 2022’, award at the BAFI Awards.
The recognition was bestowed at the 10th BusinessDay Banks and other Financial Institutions (BAFI) awards event, which was held in November in Lagos, Nigeria.
The BAFI Awards is backed by BusinessDay’s Research and Intelligence Unit through its extensive vetting process which monitors, evaluates, and recognises the achievements of players in the financial services industry in several categories that cut across banking, insurance, fintech and other financial services.
Over the past year, Cellulant Nigeria has experienced outstanding adoption of its products and services.
There are more than 400 businesses and outlets using Tingg By Cellulant's solution across Nigeria.
As more and more businesses assess their payment needs, the numbers are expected to increase in the upcoming years.
Commenting on the award, the Head of SME Sales at Cellulant Nigeria, Ademola Okuleye, said: “As an enabler of economic growth and prosperity, this award is due recognition of our industry leadership across Africa, and is a testament to the growth of, Tingg.
This is a direct reflection of the growth our solutions have enabled for our merchant partners through the seamless integration of our payment ecosystem.
A growing number of merchants in Nigeria use our payment platform.
Businesses we serve include Eat n Go; which is the parent company of Domino's, Cold Stone, and Pinkberry, GIG Logistics, Chicken Republic, Perfect Trust Cosmetics, Simba Group, United Parcel Service (UPS), Magrellos and PepsiCo; among others.
Our products distinguish themselves from our competitors because they suit the demands of retailers who want our off-the-shelf products and those who need us to customize them to meet their needs.
”
“We thank BusinessDay and the BAFI team for this recognition of our commitment to expanding the Fintech space with innovative payment solutions.
This recognition is dedicated to all our partners – staff, vendors, merchants, and customers alike who have made our platform, the payment solution choice of Africa”.
He concluded.
Cellulant offers a unique set of capabilities to serve as the one-stop payment platform for companies all over Nigeria.
Its Tingg payments platform is equipped with the tools and competencies to address the problems associated with the key use cases of collections and payouts.
In 2021, Cellulant processed approximately 214 million transactions totalling $12.3 billion across 35 African markets.
- Namibia aims to accelerate its industrialization agenda and diversify its export market by targeting the African Continental Free Trade Area (AfCFTA) markets.
This follows the conclusion of a memorandum of understanding targeting export trade signed by the Namibia Trade Forum (NTF) and the Development Bank of Namibia (DBN), according to a joint statement published on Tuesday.
Through the MoU, NTF will help export-oriented companies and start-ups to apply for DBN financing, and the MoU will also cover companies engaged in domestic trade, the statement added.
Namibia's Deputy Director of Trade and International Trade at the Ministry of Industrialization, Trade and SME Development, Ndiitah Nghipondoka-Robiati, said that at a time when Namibia and the African continent are working towards further integration, this MoU strengthens small and medium-sized enterprises (SMEs) and enables Namibia to accelerate its industrialization program and diversify its export market.
He reiterated that SMEs are the backbone of most economies and are a key source of dynamism and flexibility for economic growth, so SMEs should participate in programs that foster entrepreneurial thinking and enhance entrepreneurship.
Commenting on the deal, Stacey Pinto, CEO of NTF, said that NFT should be the first stop for SMEs that intend to export goods or services to AfCTFA countries.
Meanwhile, DBN CEO Martin Inkumbi said the MoU should be a model for coordination with the ability to help finance infrastructure for manufacturing, food processing and agriculture with the aim of local trade and AfCFTA.
He cautioned that while the AfCFTA represents a potential boom for Namibian exporters, it also opens Namibia up to imports, so it is important for Namibian SMEs and manufacturers to be competitive in both the local and export markets.
Earlier this month, Namibia released its National Strategy for the Implementation of the Agreement establishing the AfCFTA and associated Action Plan. ■
- Bangladesh's largest National Small and Medium Enterprise (SME) Fair kicked off Thursday in the capital Dhaka with the aim of promoting entrepreneurs and expanding their markets through product diversification.
Some 325 SMEs have been exhibiting their products, including jute, agricultural and leather products, as well as electrical and information and technology items at the 10-day fair.
Bangladeshi Minister of Industries Nurul Majid Mahmud Humayun opened the exhibition at the Bangabandhu International Conference Center (BICC), also known as the Bangladesh-China Friendship Conference Center.
The Bangladesh SME Foundation organizes the annual fair since 2012.
Md Mafizur Rahman, managing director of the SME Foundation, said that at least 60 percent of the total booths at the fair are women entrepreneurs. She said that the organizer is prioritizing women in the small and medium-sized industry sector.
Parallel to the event, there will be five seminars on easy financing for SME entrepreneurs, women entrepreneurs, technology, ICT (Information and Communication Technologies) and cluster-based product development. ■
A vendor displays goods at a SME fair booth at the Bangabandhu International Conference Center (BICC), also known as the Bangladesh-China Friendship Conference Center, in Dhaka, Bangladesh, on November 24, 2022. The small Bangladesh's Largest National Medium and Medium Enterprise The Enterprise Fair (SME) kicked off Thursday in the capital Dhaka with the aim of promoting entrepreneurs and expanding their markets through product diversification.
Some 325 SMEs have been exhibiting their products, including jute, agricultural and leather products, as well as electrical and information and technology items at the 10-day fair. ()
People visit the SME fair at the Bangabandhu International Conference Center (BICC), also known as the Bangladesh-China Friendship Conference Center, in Dhaka, Bangladesh on November 24, 2022. The National Small and Medium-sized Fair Bangladesh's largest Enterprises (SME) started in the capital Dhaka on Thursday with a view to promoting entrepreneurs and expanding its markets through product diversification.
Some 325 SMEs have been exhibiting their products, including jute, agricultural and leather products, as well as electrical and information and technology items at the 10-day fair. ()
- Bangladesh's largest National Small and Medium Enterprise (SME) Fair kicked off Thursday in the capital Dhaka with the aim of promoting entrepreneurs and expanding their markets through product diversification.
Some 325 SMEs have been exhibiting their products, including jute, agricultural and leather products, as well as electrical and information and technology items at the 10-day fair.
Bangladeshi Minister of Industries Nurul Majid Mahmud Humayun opened the exhibition at the Bangabandhu International Conference Center (BICC), also known as the Bangladesh-China Friendship Conference Center.
The Bangladesh SME Foundation organizes the annual fair since 2012.
Md Mafizur Rahman, managing director of the SME Foundation, said that at least 60 percent of the total booths at the fair are women entrepreneurs. She said that the organizer is prioritizing women in the small and medium-sized industry sector.
Parallel to the event, there will be five seminars on easy financing for SME entrepreneurs, women entrepreneurs, technology, ICT (Information and Communication Technologies) and cluster-based product development. ■
The Ministry of Finance of the Republic of Indonesia hosted a technical workshop on Sukuk Enhancement Fund (SEF) on 18 November 2022 in Jakarta, Indonesia.
The event was organized in collaboration with IsDB Institute (IsDBI) (https://IsDBInstitute.org/) and IsDB Regional Hub Indonesia (RHI).
This invitation-only workshop was attended by officials from the Ministry of Finance, Otoritas Jasa Keuangan (OJK), Bank Indonesia (BI), Bank Negara Indonesia (BNI), and PT SMI (Sarana Multi Infrastruktur).
The Sukuk Enhancement Fund provides a protection mechanism to Sukuk without additional costs to the issuers.
It is built on the concept of cooperative insurance, whereby members contribute regular premiums and those who are affected will be compensated from the pool of contributions.
Such cooperation is based on non-profit, social solidarity and risk sharing, rather than on commercial compensation.
SEF contributes to Sukuk markets by providing partial protection to investors.
This protection improves the access of issuers to capital markets and potentially attracts a larger segment of Sukuk investors, enhancing the market’s diversity.
The SEF can be helpful to any kind of Sukuk: Sovereign or corporate, large or SMEs, etc.
Ms. Dwi Irianti, Director of Islamic Finance at the Ministry of Finance, in her welcoming remarks, expressed her gratitude for the IsDB Institute’s proactive initiatives to introduce new ideas and products which would be beneficial to the Islamic finance stakeholders in Indonesia, particularly in their attempt to diversify players and pool of instruments so the capital market can be deepened even further.
In his opening remarks, Dr. Sami Al Suwailem, Acting Director General of the Institute, appreciated the achievements and leadership of Indonesia in the area of Islamic economics and finance, which could hopefully inspire other stakeholders in the industry to contribute to pioneering Islamic finance solutions to economic challenges.
Dr. Hylmun Izhar, Senior Economist at IsDBI, conducted the workshop and introduced the structure of SEF.
After the presentation, the participants had fruitful and constructive discussions on the prospect and feasibility of the SEF for the Indonesian Sukuk market.
The participants agreed to form a task force to further investigate the feasibility of the SEF and consider alternative options for implementation.
The Board of Directors of the African Development (https://www.AfDB.org) Fund has approved a $27.9 million grant to Ghana for the development of agricultural value chains in the Savannah region.
The grant will increase the climate-resilient production of maize, rice and soybean, support the poultry value chain, and generate employment for women and youth.
It will increase the incomes of farmers and support household nutrition, especially in more vulnerable women-headed households.
This would be achieved through the facilitation of private sector investment in sustainable value chains associated with commercial maize, soybean and rice production, with an integrated poultry value chain, which will primarily involve women and youth.
The Savannah Agriculture Value Chain Development Project will be implemented by Ghana’s Ministry of Food and Agriculture from 2023 to 2027.
Overall, the project will benefit at least 150, 000 people indirectly and 50,000 directly.
It will add to the production of at least 8,000 hectares of new rice, maize and soybean, which will improve feed availability for the poultry industry.
This grant aligns with the Bank’s medium-term development framework for 2022-2025, which seeks to provide conditions for the private sector to boost growth and create abundant employment opportunities, especially for the youth by transforming agriculture and industry.
It is also aligned to the Bank’s priority area focusing on the development of agro-ecological zones, especially the Savannah regions of Africa and creating opportunities for the continent’s youth.
The Bank’s Acting Vice-President of its Regional Development, Integration and Business Delivery Complex, Marie-Laure Akin-Olugbade, said building local capacity, would help reduce imports and help Ghana to mitigate the negative impact of Russia’s invasion of Ukraine on global food systems.
It would also alleviate the impact of climate change, in line with the Bank’s African Emergency Food Production Facility, she noted.
“This builds on Bank’s earlier investments in the savannah areas of Ghana, putting 20,000 hectares of maize and soybean under production using conservation agriculture practices and technologies.
This project has come at a time that Ghana seeks to enhance domestic production and reduce imports.
These are the key objectives of Bank’s Feed Africa Strategy,” said Martin Fregene, the Bank’s Sector Director of Agriculture and Industry.
The grant will support farmers with farm inputs to produce climate resilient rice, maize and soybean.
It will also support the production of certified seeds by commercial farmers and work closely with the Savannah Agriculture Research Institute, to support smallholder farmers with equipment to improve planting and crop husbandry.
This support will include the enforcement of community by-laws and promote the use of hybrid seeds, good agriculture practices and sound water, climate resilience and adaptation and integrated pest management.
The project will also enhance the capacity of Micro and Small-sized Enterprises (SMEs) and offer skills development for youth and women through sustainable entrepreneurship and mentoring programs, especially in the poultry value chain.
On the approval of the project, Eyerusalem Fasika, Ghana Country Manager of the African Development Bank said “the approval of this project is a significant addition to the Bank’s active agriculture portfolio in the country with immense potential to contribute to sustainable food systems in Ghana.
Furthermore, the project’s approval is an opportune time for the Bank to support the Government in its efforts to produce enough basic commodities to meet food security challenges and support industrialization.”
Following the success of the MultiChoice (www.MultiChoice.com) Africa Accelerator (https://bit.ly/3OtthRz) Programme, which secured $16 million (USD) of funding for six emerging businesses last year, the programme has been expanded to eight more countries across Africa.
Many more small businesses in Africa’s technology sector now have the chance to benefit from the 2023 programme, which provides the skills and opportunities needed to attract transformative business funding.
“We’re really excited to be expanding the MultiChoice Africa Accelerator Programme to more African countries,” said Calvo Mawela, MultiChoice Group CEO, announcing the launch.
“It’s part of our long-term commitment to growing and multiplying Africa’s technology potential, which is critical to our future growth.”
The MultiChoice Africa Accelerator Programme, which kicked off during Global Entrepreneurship Week, is aimed at established start-ups and small enterprises in specific technology sectors – healthtech, agritech, fintech, edutech, the circular economy and the creative industries.
“There is such incredible business talent across Africa,” said Mawela.
“MultiChoice Africa Accelerator is an opportunity for investors and small enterprise to collaborate to multiply the impact of this talent and scale it across Africa.”
Having started in South Africa in 2021, the MultiChoice Africa Accelerator is expanding to Ivory Coast, Senegal, Nigeria, Ghana, Kenya, Zambia, Angola and Ethiopia.
The initiative equips emerging entrepreneurs to secure funding and scale up their businesses, and also provides opportunities to pitch to international investors.
African Development Bank President Dr Akinwumi Adesina has previously noted (https://bit.ly/3U0gRSu) that, “the private sector is Africa’s growth accelerator”, and severa (https://MSEA.go.ke) African (https://SMEDAN.gov.ng) nations (http://www.DSBD.gov.za) have backed small-business development as part of their economic strategy.
The MultiChoice Africa Accelerator dovetails with these development objectives.
The MultiChoice Africa Accelerator Programme is an initiative of the MultiChoice Innovation Fund, in collaboration with Dubai-based business incubator Companies Creating Change (C3) (https://www.WeGrowwithc3.com), which gives entrepreneurs access to the tools, skills and financial support to grow their business.
MultiChoice has also partnered with EOH, a tech services company who will bring their expertise to the table especially in terms of tech advisory, development sprint and technical support.
The first phase of the MultiChoice Africa Accelerator Programme sees public and private-sector partners in each country nominating businesses or entrepreneurs for the programme.
From there, 29 of the start-ups embark on an intensive virtual training course.
The initiative is aimed at established businesses that are already operating and looking to scale up by attracting further investment.
“Start-up founders get to learn everything from how to properly research your business sector and your market, to how to create a niche for your business,” says Boitumelo Monageng, of Swypa, one of last year’s finalists.
“During the workshops we were encouraged to dig deeper and I realised that we have the potential to compete on a much larger scale.”
The virtual training course takes place over several weeks, teaching start-up owners media skills, how best to market their businesses to investors, how to create attractive business plans, and to know what investors are looking for.
Later, the entrepreneurs will come together at a finals event, where 11 start-ups will be selected for the final pitch phase.
They will attend a dedicated C3 boot camp to learn how to shape their story for international investors, and to get “pitch ready” before their big presentations.
“We believe SMEs in the technology, sustainability and creative sectors will be fundamental to the next phase of Africa’s growth,” says Mawela.
“The MultiChoice Africa Accelerator is geared to finding the most promising start-ups, and empowering them to play this critical role.”
On November 22, the Public Affairs Officer at the U.S. Embassy in Namibia, Tiffany Miller, officiated the graduation ceremony of the second cohort for the Academy for Women Entrepreneurs (AWE), a program that provides women with the tools needed to create and grow their own businesses, raise capital, and effectively network with other successful business owners.
Regional Councilor of the !Nami#nüs Constituency, Honorable Suzan Ndjaleka, spoke on behalf of the local government at the ceremony attended by representatives from the private sector.
Fifty women from across the country graduated from this entrepreneurship program.
The principal ceremony was held and streamed in Lüderitz, while other cohorts held their ceremonies in Walvis Bay and Ongwediva.
The AWE program was officially launched in Namibia in November 2020, and to date, approximately 70 women have graduated from the five month long training course.
Participants were selected from the !Karas, Erongo, Khomas, Ohangwena, and Oshana regions.
“When women are successful, communities prosper, countries thrive, and the world becomes a safer and more stable place for us all.
Having successfully completed this course, you are empowered with the resources and knowledge to expand your businesses,” said Tiffany Miller during the graduation ceremony at the Lüderitz Nest Hotel.
Funded by the U.S. Embassy and implemented with support from SME Compete and Glowdom Namibia, the Academy for Women Entrepreneurs is a global program run by the U.S. Department of State that currently empowers women entrepreneurs in more than 50 countries.
The program was developed to support the White House-led Women’s Global Development and Prosperity (W-GDP) Initiative, which is designed to support women worldwide in fulfilling their economic potential.
