News
USTDA, Zipline Partner to Expand West Africa Healthcare Access through Drone Technology
The United States Trade and Development Agency (USTDA) has awarded a grant to global instant logistics service company, Zipline for a feasibility study to expand healthcare access in Ghana and Nigeria using unmanned aerial vehicles.
The study will facilitate Zipline’s goal of expanding its logistics services to make healthcare more accessible and affordable.
“Increasing access to healthcare is critical for West Africa. Our partnership with Zipline demonstrates the role that non-traditional models of healthcare access can play in addressing this need,” said Enoh T. Ebong, USTDA’s Director.
“USTDA’s support for this project reflects the holistic approach that we are taking toward developing healthcare infrastructure and the important role that private sector companies can play in offering meaningful solutions.”
U.S. Ambassador to the Republic of Ghana, Virginia Palmer, hosted the grant signing ceremony at the U.S. Embassy in Accra and this underscored the U.S. government’s resolve to increase bilateral trade and investment.
Palmer said: “The United States is committed to a strong partnership with Ghana that will grow the economies while improving and even saving peoples’ lives.
This project serves as an example of our whole-of-government approach, where USTDA worked closely with the U.S. Departments of Commerce and State, and USAID, to reach today’s important milestone with Zipline.”
USTDA’s feasibility study will allow Zipline to assess the viability of expanding its healthcare logistics services into new geographic areas and developing new business models to build on its existing delivery systems.
In addition to healthcare sector benefits, Zipline’s project is anticipated to increase access to e-commerce, postal, and agricultural products, and services in hard-to-reach areas, helping to stimulate local economies and reducing costs and time to access goods and services.
“Zipline has transformed the logistics and medical systems in the countries where we operate, helped save lives, and reduced negative environmental impact on the planet,” said Daniel Marfo, Zipline’s Senior Vice President.
“This grant from USTDA will enable a feasibility study to assess the impact of expanding Zipline’s operations in Nigeria and Ghana so that we can help more communities and healthcare systems have access to critical items when they need it.”
This project advances a primary pillar of the Biden-Harris Administration’s Partnership for Global Infrastructure and Investment, which aims to strengthen global health security.
News
FBNQuest Asset Management Wins Asset Management Award at BusinessDay Banks & Other Financial Institutions Awards
FBNQuest Asset Management, an investment management firm in Nigeria and a subsidiary of FBN Holdings Plc., is proud to announce that it has been honoured with the prestigious Excellence in Asset Management Award at the recent BusinessDay Banks and Other Financial Institutions Awards.
This recognition highlights FBNQuest Asset Management’s unwavering commitment to delivering exceptional investment solutions and fostering financial growth for its clients.
The award ceremony, celebrated the outstanding achievements of financial institutions across Nigeria, highlighting those that have demonstrated innovation, excellence, and unwavering commitment to quality service.
“We are immensely proud to receive this award, which reflects our dedication to excellence and our focus on creating value for our clients,” stated Ike Onyia, Managing Director, FBNQuest Asset Management. “This achievement is a testament to the hard work and expertise of our team, as well as the trust our clients place in us. We will continue to strive for excellence in all that we do.”
FBNQuest Asset Management offers a range of investment solutions, including mutual funds, discretionary portfolio management, and alternative investments, tailored to meet the diverse needs of its clients.
The firm remains committed to maintaining the highest standards of integrity and professionalism in the asset management industry.
The BusinessDay Banks and Other Financial Institutions Awards are recognized as one of the most prestigious accolades in the financial sector, honouring organisations that excel in performance, innovation, and customer service.
News
FG Launches Amnesty to Allow Deposits of Forex outside Banking System
Federal government has unveiled a new policy for Nigerians to deposit dollar bills held outside the formal banking system without scrutiny.
Nigerians have nine-month deadline to do this according to Wale Edun, minister of Finance and coordinating minister of the Economy.
Edun who spoke after the Thursday’s National Economic Council (NEC) meeting in Abuja, said that “there will be no penalty; there will be no taxes, and there will be no questions.”
“There is going to be a release today, details by the federal government through the Ministry of Finance, in conjunction with the Central Bank, a programme, starting today, 31st of October, and lasting nine months, that will allow people to bring in cash that is outside the banking system.
“So therefore it is unsafe, it is unsecure and it is outside of legal limits. They will allowed forbearance to bring dollars cash. Let me emphasize once again, it is to bring dollars that they are holding outside the system to be able to bring them in and credit it to their bank accounts, as long as it is not proceeds of crime, illicit money.
“They just meet the normal ‘Know Your Customer’ criteria of banks and they have an opportunity to bring in those funds, make them safe, make them secure, and make them available through normal, economic activity.”
The minister also stated that 25 million Nigerians have benefitted from federal social protection initiatives, including digital outreach, microenterprise loans, and sector-specific support for power, agriculture, manufacturing, health, and compressed natural gas initiatives.
News
NAICOM Sacks African Alliance Insurance Board
The National Insurance Commission, (NAICOM), on Wednesday, sacked the board of African Alliance Insurance Plc with effect from October 30, 2024.
The Commissioner for Insurance, Mr. Segun Omosehin, disclosed this during a press conference in its Lagos office, that an interim board and management have be appointed.
The new interim board are: Dr Haruna Mustafar, a former director at Central Bank of Nigeria; Anthony Achebe – Non-Executive and Haj. Halimatu M. Khabeeb – Non-Executive Director.
The management team is led by former Managing Director of International Energy Insurance and Cornerstone Insurance Plc, Jacob Erabor, as Managing Director/ CEO; Wasiu Amao – Executive Director, Technical and Ms. Oremeyi Longe – Executive Director, Finance.
He noted that the interim management has up to one year to turn around the company.
He said the decision follows an extensive monitoring and review of the company’s financial condition, governance, and operational practices, which revealed significant concerns regarding its ability to continue operating in a safe and sound manner which has for some time now generated a lot of uncertainty over claims settlement and payment to annuitants under the company.
The Interim Management Board, according to him will oversee the company’s operations, ensure compliance with regulatory requirements, and implement necessary reforms.
While noting that the Commission will work closely with all stakeholders, including annuitants, policyholders, employees, and investors, to minimise disruption and ensure continuity.
”The objective of this takeover is to protect the interests of African Alliance Insurance Plc’s annuitants, policyholders, other stakeholders, and the broader insurance industry while ensuring the company’s return to stability and compliance.
“The Commission is committed to maintaining the stability and integrity of the Nigerian insurance industry. Our actions today demonstrate our resolve to address concerns and protect the annuitants, policyholders and public interest.”
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