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Ghanaian tech company wins Ecobank ‘Fintech Challenge’
Ecobank Group has announced the winners of its Ecobank Fintech Challenge after an exciting virtual event streamed live in Accra. ‘Nokwary Technologies’, edged out the rest of the finalists to emerge winner of the competition.
The first and second runner up spots were taken by Ukheshe Payment, and Solutions Growth Factor Technologies respectively. The first to third place winners would receive cash prizes worth US$10,0000, $7,000 and US$5,000 respectively.
Nokwary, from Ghana, is a fintech that uses Artificial Intelligence (AI) to promote financial inclusion. Its AI Powered banking solution offers an opportunity for users to carry out transactions in a language to which they are familiar with through popular social media channels like Whatsapp.
South Africa based Ukheshe, which came second, provides a bridge between the card and the cash economy. It has created the world’s first card acceptance platform that allows unbanked merchants and traders to accept and make digital payments.
In third place, Growth Factor is a fintech company that provides trade financing solutions designed for Micro-Small and Medium Entities in order to encourage financial inclusion and growth.
Its ‘Nvoicia’ solution solves cash flow issues caused by delayed payments for SMEs, by enabling them to get paid in 24hrs when dealing with credit clients.
Ade Ayeyemi, Ecobank Group CEO, congratulated the winners on their innovation and welcomed all the 2020 Fellows.
“The quality of the products and pitches we saw in the final this year were amazing. Clearly it is evident that Banking in Africa is moving onto a new dimension with these Fintechs leading the way.
“That is why we are so proud to have had them in this year’s competition and are excited to engage further with them over the next year. It is our expectation that we will build a few lasting partnerships which will help improve the lives of Africans all over the continent,” he said.
Dennis Asamoah Owusu, CEO and Co-founder of Nokwary Technologies was excited about his victory.
“Our company is rather young and to be recognised like this on such a stage was really exciting as well as a validation for our focus on creating inclusive technology right from the start.
“It is also very encouraging to note that a major bank like Ecobank places such a premium on inclusion and is willing to back and promote innovative and cutting-edge technologies towards that purpose,” he said.
He added that the company would work together with Ecobank to bring an ‘AI-first digital banking platform’ over WhatsApp, as well as other innovative solutions to Ecobank’s customers.
This year’s finalists made it through an extremely competitive pool of over 600 applicants across Africa, Europe, North America and Asia.
All 10 finalists have officially been inducted into the Ecobank Fintech Fellowship, a one-year programme which will give them the opportunity to explore opportunities for commercial partnerships with the Ecobank Group.
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UNODC partners GFA Foundation on Prison advocacy and mentorship programme
The GFA Foundation and the United Nations Office on Drugs and Crime (UNODC) have agreed to work together to advocate for anti-discrimination and the elimination of stigmatization for prisoners and prisons.
This partnership was agreed, in principle, during a meeting at the Home of Football (GFA Head Office) between the Director of the GFA Foundation and the UNODC Team led by Mr. Christoph Capelle, an Associate Expert in Crime Prevention and Criminal Justice and the Coordinator of the prison and penal reform project in Ghana.
Welcoming the Team to the Home of Football, the Director of the GFA Foundation, Mr. Malcolm Frazier Appeadu briefed the team about the GFA Foundation – Ghana Prisons Project which has covered 6 prisons across the country already.
He indicated that the Foundation is liaising with the Ghana Prisons Service to commence the second and third pillars of the project, which are the coaches and referees training programs as well as the advocacy and mentorship initiatives.
He said that the GFA Foundation will welcome partners for the execution of the second phase of the project which will include Ankaful Maximum Security Prison, Kumasi Central Prison, Sekondi Central Prison and three other prison facilities.
In his response, Mr. Christoph Capelle commended the GFA for the GFA Foundation – Ghana Prisons Project which seeks to use the power of football to promote the wellbeing, reformation, rehabilitation and reintegration of inmates of Ghana’s prisons into society.
Mr. Capelle said that UNODC is looking forward to a collaboration with the GFA Foundation on possible programs for both the medium and long term to support football and sports jobs and skills development in Ghana’s prisons.
He extended an invitation to the GFA Foundation to be part of an assessment of overall prison rehabilitation programmes including the use of sports by their international consultant at the Ankaful Maximum Security Prison.
There will be a football match and donation of footballs, sports items and equipment to the prison facility.
Present at the meeting were Mr. Kwame Koramoah, an officer at the GFA Foundation and Integrity Office, Helena Adobea Ofori, Associate Programme Officer, UNODC and Caleb Elorm Agodzo, Administrative Officer, UNODC.
It will be recalled that in 2020, The UNODC and FIFA signed a Memorandum of Understanding (MOU) to tackle corruption and crime in and through sports and pledged to consider ways in which football can be used as a vehicle to strengthen youth resilience to crime and substance use through the provision of life skills training.
The MOU was renewed last year by FIFA President Gianni Infantino and UNODC Executive Director Ghada Waly in New York on the sidelines of the United Nations General Assembly.
News
Gomoa West: NPP, NDC supporters clash over commissioning of DRIP equipment
Supporters of the National Democratic Congress (NDC) and the New Patriotic Party (NPP) on Monday morning clashed over the commissioning of machinery for the District Road Infrastructure Project in the Gomoa West District of the Central Region.
According to Citi News sources, the conflict began when NDC supporters questioned the decision to display images of Bismark Basie Nkum, the NPP’s Gomoa West parliamentary candidate on the DRIP machinery.
This disagreement quickly escalated, almost leading to a physical altercation between the two groups.
Baisie Nkum, who doubles as the District Chief Executive (DCE) for Gomoa West, further claimed that the Member of Parliament for the area, Richard Gyan Mensah, brandished a pistol and issued threats against the NPP’s local leadership.
A viral video circulating on social media captured the DCE accusing MP Richard Gyan Mensah of pulling out a gun and threatening NPP supporters during the heated incident.
Source: Citinewsroom.com
