Day: May 20, 2024

Fidelity Bank Ghana, the largest privately-owned indigenous bank, has announced a dedicated space for Agric-Tech within the Fidelity Young Entrepreneurs Fund (FYEF) through an upcoming Agric-Tech competition.

This initiative aims to support the development of groundbreaking solutions that address pressing challenges faced by players in the Ghanaian agriculture value chain.

Julian Opuni, Managing Director at Fidelity Bank, made this announcement during the Agriculture and Fintech Forum at the just ended 3i Africa Summit.

The forum, hosted by Fidelity Bank, brought together stakeholders to bridge the gap between agriculture and fintech and showcase how technology can overcome longstanding barriers in the agricultural value chain.

In his keynote address titled, ‘Seeding Innovation: The Convergence of Agriculture and FinTech in Africa’, Mr. Opuni emphasised the crucial role of the youth in driving technological adoption and innovation within the agricultural sector.

He highlighted the demographic advantage o
f Africa, where 60% of the population is under 25 years old, but noted the underutilisation of this potential due to the perception of agriculture as an unappealing profession for the young.

‘Africa’s youth, aged under 25, make up 60% of the population, with over 200 million young people residing on the continent,’ Mr. Opuni stated. ‘Despite this demographic advantage, the agriculture sector remains largely untapped by Africa’s youth, who often view farming as a profession for the elderly.’

Mr. Opuni the urged the changing of this perception and equipping young Ghanaians with the necessary support and resources to actively participate in the sector’s transformation.

‘This will not only address youth unemployment but also ensure the sustainability and growth of Africa’s agricultural sector,’ he declared.

Building upon the existing FYEF program, which provides financial and non-financial support to youth-led businesses, particularly, those in the agriculture sector, a dedicated space for Agric-Tech will be
carved out within the FYEF framework.

‘Access to opportunities that drive innovation is key to motivating youth involvement in Agric-Tech,’ Mr. Opuni explained. ‘This Agric-Tech competition aims to incentivise the development of innovative solutions that will address critical issues faced by Ghanaian agriculture, ultimately leading to a revolutionized sector.’

Mr. Opuni acknowledged the numerous challenges hindering Africa’s agricultural productivity, including limited investment, inadequate resources, and a lack of access to technology and funding.

He pointed out the risk aversion of financial institutions due to historically high non-performing loan rates in the agricultural sector. However, he called for open dialogue between banks, stakeholders, and policymakers.

‘This forum represents a critical step forward,’ Mr. Opuni declared. ‘By fostering collaboration, we can work towards building a data-driven ecosystem. This will allow banks to more accurately assess risk, design targeted financial products f
or farmers, and ultimately bridge the financing gap for agricultural businesses.’

The forum also showcased Fidelity Bank’s dedication to advancing agricultural development. Divisional Director, Retail and Business Banking, Nana Esi Idun-Arkhurst, participated in a panel discussion focused on integrating technological and financial innovation to reduce risk within the African agricultural value chain.

Additionally, Head of Partnerships, Sustainability and CSR, Nana Yaa Afriyie Ofori-Koree at Fidelity Bank, joined another panel discussion exploring the potential of Measurement, Reporting, and Verification (MRV) technology in unlocking financial flows for sustainable agricultural production in Ghana.

‘Fidelity Bank’s leadership in the Agriculture and Fintech Forum at the 3i Africa Summit, coupled with the creation of a dedicated Agric-Tech space within the FYEF program, demonstrates a strong commitment to supporting young innovators and fostering a more vibrant and technologically advanced agricultural sector
in Ghana.’

The three-day summit opened on Monday, May 13.

It was targeted at players in the African digital economy to catalyse investments and foster economic growth across the continent.

More than 4,000 players participated in the Summit that also aimed to generate partnerships for sustainable development.

Source: Ghana News Agency

Delta Air Lines has unveiled its custom ‘Airbus A350 Team USA’ aircraft in Toulouse, France, as part of its support for United States’ athletes taking part in the 2024 Olympic games in Paris.

The unveiling on May 2, 2024, was described as a ‘major milestone’ and celebration of Delta’s Airline’s eight-year partnership with the United States Olympic and Paralympic Committee, a press release issued to the Ghana News Agency, in Accra by the Kingdom Concepts Consult said.

The support from the company is expected to help the US team connect to their destination safely and achieve their dreams at the tournament, which starts in July.

‘This plane, designed by our in-house creative team, represents Delta’s commitment to Team USA and our partnership to elevate these athletes to reach their highest potential.

‘As this plane flies around the world in the coming months and years, we hope it is seen as a symbol of hard work, dedication and the upward momentum to being the best that Team USA and Delta innately share,’ C
hief Marketing Officer Alicia Tillman said in the release shared.

The celebration in Toulouse, Airbus’ global headquarters, where the plane was built and painted, was attended by the airline’s top 100 employees known as ‘Chairman’s Club Honorees’ nominated from divisions across the company.

The 2023 ‘honorees’ unveiled the brand-new Team USA ‘livery’ design and were the first to fly on the newly minted plane, as recognition of their commitment and dedication to the brand.

Delta’s Chairman’s Club Honorees flew the aircraft back to Atlanta, Georgia on May 3. The honorees, according to the company ‘are selected annually, based on their merit and ability to exemplify the Delta brand each day’.

‘Team USA athletes are resilient and perseverant – much like Delta’s own people who work each day behind the scenes to connect the world,’ Vice President of Global Communications, Gina Laughlin said.

‘Celebrating this moment alongside our 2023 Chairman’s Club Honorees is only fitting as Delta’s people and Team USA work
diligently each day to bring the best of themselves to their work.

‘No one better understand what it means to keep climbing to the top,’

The new customised aircraft, according to Delta Air Lines, was designed over several months by Alessandra Rabellino and Delta’s internal brand design team.

‘The bespoke design boasts red, white and blue colors with ‘Team USA’ proudly written across its side and maintains elements of the Team USA Livery design for the Olympic and Paralympic Winter Games Beijing 2022, as a nod to the beginning of the partner journey, while also incorporating features that look ahead to Paris and beyond.

‘…The brand-new plane flew the 2023 Chairman’s Club Honorees on a special route from Toulouse to Atlanta, landing to a celebratory water cannon salute at Atlanta Hartsfield Jackson International Airport,’ the release added.  

The plane was met by Delta leadership,

Team USA athletes and past Chairman’s Club Honorees who were able to see the livery for the first time. The aircraft, the comp
any said, ‘will complete final certifications before beginning flying routes and carrying customers in a few weeks.’

‘As Team USA’s official airline, Delta will manage travel for all U.S. Olympic and Paralympic athletes to the Olympic and Paralympic Games Paris 2024, Olympic and Paralympic Winter Games Milan 2026 and Los Angeles 2028 Olympic and Paralympic Games, where it also is an inaugural founding partner,’ the Company added.

Source: Ghana News Agency

The SanlamAllianz Group is pleased to announce that it has received a final no objection from the National Insurance Commission (NIC) to proceed with the planned merger between Sanlam Life Insurance Ghana LTD and Allianz Life Insurance Ghana LTD, as well as Sanlam General Insurance Ghana LTD and Allianz Insurance Ghana LTD.

This follows the announcement in September 2023 of the closing of the SanlamAllianz joint venture, which covers 27 countries across Africa for a combined enterprise value of nearly US$ 2 billion.

An exciting new journey

The merger between Sanlam and Allianz will allow the Ghanaian market to benefit from the combined expertise of two major financial services groups, which are known and recognised on an African and a global scale and carry more than 200 years of cumulative experience in Africa and beyond.

‘We are confident that our merged businesses in Ghana will create significant value for our clients, shareholders and other stakeholders. The combined expertise and resources of our res
pective companies will enable us to provide innovative solutions and services to meet the ever-evolving needs of our clients,’ says Heinie Werth, CEO of SanlamAllianz.

The merger is also expected to contribute significantly to the overall development of the Ghanaian insurance market, thanks to an innovative range of products and services adapted to all market segments.

Given the SanlamAllianz Group’s growth strategy and diversified financial services capabilities, the organisation’s combined business in Ghana presents various opportunities for operational synergies, creating significant potential for value creation that will benefit the sector, its clients, agents, brokers and partners, as well as its employees.

The Sanlam Life Insurance Ghana is focused on providing specialist life insurance services leveraging on the capacity, expertise, experience, exposure and the financial strength of the biggest non-banking financial services Group on the African continent.

Sanlam General Insurance Ghana offers inno
vative insurance solutions, which cut across all segments of the economy. These include Motor Insurance, Asset All Risks, Marine Insurance, Home Insurance, SME Insurance, Fire and Other Perils among others.

Allianz Ghana, made up of Allianz Life Insurance Ghana LTD and Allianz Insurance Ghana Limited are subsidiaries of the Allianz Group. The Allianz Group is one of the world’s leading insurers and asset managers with around 125 million* private and corporate customers in nearly 70 countries.

Having launched its operations in 2018, Allianz Life Ghana LTD is currently a Top 9 life insurance on the market, offering various life insurance solutions for retail, corporate, SME, banks, and partners such as MTN and Société Generale Ghana.

Allianz Insurance, the general insurance provider, offers solutions and services in Motor, Home, Travel, Injury, and Disability Insurance to the Ghanaian market.

In addition, it underwrites SME, Public Liability, Asset, Construction, Transport, and Cyber Crime Insurance. Alli
anz Insurance has bancassurance partnerships with Société Generale Ghana, Ecobank Ghana, Consolidated Bank Ghana, and United Bank Africa.

Source: Ghana News Agency