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Keystone Bank, Afreximbank, others partner to promote African Creative Industry

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Keystone Bank Limited has re-emphasised its commitment to the growth and development of the Africa’s creative industry as the lender recently partnered with the African Export-Import Bank (Afreximbank) and other multilateral agencies to host the maiden edition of the Creative Africa Exchange Weekend (CAX WKND) in Kigali, Rwanda.

According to the organizers, the Creative Africa Exchange Weekend is Africa’s first continental event dedicated to promoting exchange within the creative and cultural industry.

“CAX is a consolidated marketplace for the creative and cultural industry. It was developed as the catalyst that brings together the identified assets and resources within the creative industry’s ecosystem, enabled by cutting-edge technology to consolidate the resources that create a viable, monetizable and impactful African creative and cultural economy.

“CAX aims to facilitate investments into the industry through trade, industrialization and provision of critical infrastructure to support the transformation of Africa through mobilizing continental initiatives such as African Continental Free Trade Agreements,” it stated.

Commenting on the bank’s involvement, Keystone Bank executive director, Adeyemi Odusanya said: “There is a misconception of ‘mistrust’ between creative industry practitioners and the banking community, rather the issue is, both parties need to seek better understanding of their respective peculiarities.

“For instance, creative industry practitioners are concerned of the stringent conditions of accessing finances from banks, while the bankers intend to comply with their mandate of protecting depositors’ assets, provide optimum return on investment to investors as much as reducing their cost of risk.

“These concerns call for greater partnership/collaborations between both parties with putting together structures and platform that address the issues of intellectual properties, legal systems as well as the protection of the value chain framework for ease of advocacy and execution of common goals.

“In the motion industry, most finances are targeted at content development and production (which ideally should be financed by equity, while the real obstacles are the packaging, marketing and distribution stages which might require financing for the real heavy lifting for that business.

“Hence, focus should be on developing a platform (like physical/virtual room) and structure for knowledge sharing and collaboration.”

On its part, at the event, Afreximbank announced a $500 million support for the production and trade of African cultural

and creative products over the next two years.

President of the bank, Prof. Benedict Oramah, told guests that the funds, which would build on what the bank was already doing, would be accessible as lines of credit to banks, direct financing to operators and as guarantees. He said the creative economy was increasingly recognized as a significant sector and meaningful contributor to Africa’s gross domestic product and that the cultural and creative industries catalysed economic growth by stering more inclusive, connected and collaborative societies.

Keystone Bank is a technology and service-driven commercial bank offering convenient and reliable solutions to its customers.

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Jumia Implements “Contactless” Delivery And “Cashless” Payments In Response To The COVID-19 In Africa 

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MSMEs Empowerment

The delivery and payment methods of the e-commerce platform ensures safer transactions for riders and consumers

 

Lagos (Nigeria), 31st March 2020: Africa’s leading eCommerce platform Jumia has announced the implementation of ‘contactless’ delivery for prepaid packages on the platform. The company is taking additional measures to keep consumers, delivery agents and partners safe in the wake of the COVID-19 outbreak.

 

To drive the initiative, the ‘contactless safe delivery’ option has been implemented on JumiaPay, the payment platform. This enables consumers to make prepaid payments for products online and get it delivered without a direct body contact or cash exchange with the delivery agent.

 

 “The health and safety of our customers and delivery agents is our absolute priority. We are uniquely positioned to step up and be part of Africa’s response strategy in this challenging time. We have implemented a “Contactless” delivery option, which eliminates any possibility of physical contact. Convenience, social distancing and cashless measures are woven into one solution to combat the current situation.”  said Apoorva Kumar, SVP Logistics at Jumia.

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Jumia’s delivery agents have been trained to enforce necessary standards during delivery. They are instructed to call or text when they arrive at the customer’s place and drop off the package at their doorstep, then step back to the safe distance limit and will wait for the customer to take the package before leaving.

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Consumers are strongly encouraged to pay “cashless” on Jumia through JumiaPay. This will ensure less physical cash coming into contact with delivery riders and  the wider population and will in turn help reduce the risk of coronavirus transmission.

 

Jumia “Contactless” delivery payment option is available on all JumiaPay/ Prepaid Packages and all cashless delivery modes that are contactless such as mobile money.

 

About Jumia

Jumia is a leading e-commerce platform in Africa. It is built around a marketplace, Jumia Logistics, and JumiaPay. The marketplace helps millions o

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Union Bank Ramps Up Support for the Fight Against COVID-19 in Nigeria  

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Union Bank

 Union Bank today announced additional donations totalling Three Hundred Million Naira (N300million)as part of its multi-pronged approach to tackle the spread of Coronavirus in Nigeria.

 

As part of the Private Sector Coalition Against COVID-19, Union Bank has contributed Two Hundred and Fifty Million Naira (N250million) into the fund set up by the coalition to raise N120bn (One Hundred and Twenty Billion Naira) to fight the outbreak in Nigeria.

 

In addition, the Bank also made a further donation of Fifty Million Naira (N50million) to the Lagos State Covid-19: Emergency Food Response programme which was set up to support low-income families who will be directly impacted by the state-wide restrictions in place to limit the spread of the disease. Lagos State currently has the highest number of COVID-19 cases in Nigeria.

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Commenting on the Bank’s active efforts to tackle COVID-19 in Nigeria, the Chief Executive Officer of Union Bank, Emeka Emuwa, said:

“The fight against Covid-19 requires all hands-on deck with close collaboration between the public and private sector. Union Bank is committed to supporting Nigeria’s response to ensure the country avoids a pandemic. We will especially be looking to support ordinary Nigerians who will be disproportionately impacted economically at this time.”

Last week, as part of its immediate response to the outbreak, the Bank made an initial donation of N50,000,000 ($130,000) into a $500,000 fund set up by 54gene, African genomics research, services and development company working closely with the Nigeria Centre for Disease Control (NCDC) to fight the COVID-19 menace.

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Prudential Zenith Life protecting its customers during the Coronavirus (COVID – 19) pandemic

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Africa Prudential

 

In the face of the coronavirus pandemic and the resulting lockdown, Prudential Zenith Life Insurance is rolling out a range of services to help customers cope with the lockdown.

The new services include a range of additional COVID-19 insurance cover enhancements, without additional premium charges, and a waiver for ‘pandemic’ exclusions as contained in its policy language.

In line with the recent pronouncement of the federal government, the company will be temporarily locked down and has therefore set up a dedicated claims team with remote working capabilities, to enable customers make and receive claims virtually.

According to the statement from the insurance company, the claims procedure will be simplified to allow customers make claims through the WhatsApp channel.

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This development makes it possible for customers to buy insurance products without any physical interface with sales personnel or visit to a physical branch.

Commenting on the changes, Prudential Africa CEO Matt Lilley said, “we realise this is a worrying time for everyone and we want to reassure you that protecting the health and wellness of our customers, employees and partners is our primary concern.

“At Prudential, we have been delivering promises for over 170 years and this time will be no different. I am proud of the measures we are announcing today and I know that they will provide our customers additional peace of mind.”

He added that the waiting periods for new cover have been reduced, and the company is providing additional training and incentives to sales personnel to continue providing advice and access to insurance, even as they work remotely.

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He encouraged Nigerians to stay safe and adhere to the directives from the Ministry of health, Nigerian centre for disease control (NCDC) and other relevant authorities.

“We are going to get through these trying times together” he assured.

What you should know

Prudential Zenith Life Insurance was born when Prudential Plc, one of the oldest and most strongly capitalized life insurance companies in the world, acquired a majority stake in Zenith Life Assurance.

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