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UBA, MasterCard seal 5-year deal across 19 markets
By Francis I Arinze
United Bank for Africa (UBA) and MasterCard have announced a partnership which will see UBA act as the issuer for MasterCard in 18 new markets in Africa. The partnership which came into effect in the second quarter of 2016 will see UBA issue MasterCard credit, debit and prepaid cards across these markets.
The partnership will also focus on increased payments infrastructure across Africa, including the roll out of point-of-sale and mobile-point-of-sale technology, to ensure merchants are able to accept the cards when introduced into these markets.
MasterCard and UBA are partnering across the 19 African countries in which UBA currently operates: Nigeria, Benin, Burkina Faso, Cameroon, Chad, Cote D’Ivoire, Democratic Republic of Congo, Equatorial Guinea, Ghana, Gabon, Guinea, Guinea-Bissau, Kenya, Liberia, Mozambique, Republic of Congo, Senegal, Sierra Leone, Tanzania, Uganda and Zambia.
Division President for Sub-Saharan Africa, MasterCard, Daniel Monehin says; “This focus on infrastructure and the roll out of easy-to-access solutions is a key part of driving financial inclusion .
FBN Capital signs pact on research with OBG
From Mohammed Shosanya, Lagos
A report by the global publishing firm Oxford Business Group (OBG) will examine the Central Bank of Nigeria’s monetary policy, reviewing the country’s recently-revised foreign exchange policy alongside broader efforts by the government to stimulate growth.
The Report: Nigeria 2016 will include analysis of the country’s new floating foreign exchange policy, which was enacted in June by the central bank. The decision to allow the naira to float marks a distinct change from previous policy, which in the face of dwindling reserves had led to a widening gap between official and black-market exchange rates for the naira against the US dollar.
OBG will also look at the impact of the measures on the domestic supply chain, and assess the ramifications for bond trading and liquidity in the Nigerian market. Other topics that the publication will cover include the Central Bank’s efforts to curb inflation, which remains above 9%.
Lolade Sasore, the head of marketing and corporate communications at FBN Capital, said, “Oxford Business Group is a recognised and respected source of business intelligence, and we are quite pleased about the collaboration. We are committed to working with strong partners to provide credible information, analyses and perspectives which will support decision-making and encourage investment into the country in the long term.”
Glo’s professor Johnbull goes on air today
By Simon E. Sunday
Professor Johnbull, the TV comedy drama series sponsored by data grandmasters, Globacom, goes on air today, Tuesday.
A press statement by the company indicated that the very funny, yet highly didactic drama series, will be broadcast from 8.30 p.m. to 9 p.m. on Tuesdays and Fridays on NtA Network, Nta International and Startimes.
The drama features popular actors including Kanayo O. Kanayo who plays the major character Professor Johnbull. Others are Mercy Johnson-Okogie, Yomi Fash-Lanso, Ime Bishop Okon, Queen Nwokoye, Junior Pope, Funky Mallam, Bimbo Akintola, Bidemi Kosoko, Chiwetalu Agu, O.C. Ukeje, Bovi, Mama G and Helen Paul.
FG moves to end 75 per cent annual Tomato waste
Abdullateef Aliyu and Omobayo Azeez, Lagos
The Federal Government has assured that it is working towards putting an
end to the 75 per cent wastage annually recorded in tomato production in Nigeria.
This, it said, would be achieved through the implementation of new
policies that would boost local production and processing.
She said new policies to enhance local processing of the farm produce for
storage and maximal usage are underway, adding that the ministry is presently
gathering more facts and figures that would allow it put up accurate policies to protect
local processing of tomato and other perishable products.
She also inspected facilities at the company which has an installed tomato
production capacity of 450,000 metric tonnes per annum according to Erisco
Chairman, Chief Eric Umeofia.
Abubakar stated that the current administration of President Muhammad
Buhari was committed to encouraging local manufacturing and promoting local content
in line with its agenda to diversify the economy.
Dangote donates food items to IDPs in Abuja
As part of its philanthropic gesture, the Dangote Foundation has delivered food items to alleviate the suffering of the vulnerable and the indigent in the Federal Capital Territory, Abuja.
The food items, worth millions of Naira, was last Thursday presented to the Minister of FCT Malam Muhammad Musa Bello.
Receiving the items, the Minister said he was impressed by the gesture and promised to ensure that the beneficiaries get the products.
The Acting Secretary of Social Development Bolanle Irene Elegbede who represented the Minister commended the President of the Dangote Group Aliko Dangote and the Dangote Foundation for supporting the poor people in Abuja.
The items delivered in Abuja included: Dangote Sugar, Dangote Salt, Dangote Spaghetti, rice, Danvita and wheat meal.
This donation followed the contribution by the Foundation of a staggering N2billion to the Internally Displaced Persons (IDPs) in Borno last month.
Speaking at the ceremony marking the distribution of the food items in Abuja, Chairman of the Dangote Foundation Aliko Dangote who was represented by Dr. Azeez Oseni, Director of Health and Nutrition, said the Foundation was committed to alleviating poverty in Nigeria.