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Nestlé Partners Africa Food Prize for Strengthened Food Security, Climate Change Resilience

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Nestlé announced today that it is partnering with the Africa Food Prize to help accelerate the transformation of food systems in Africa, as a way of strengthening the continent’s food security and building greater climate change resilience.

The Africa Food Prize awards USD 100,000 to individuals and institutions that are pioneering agricultural and food systems transformation in Africa. The Prize puts a spotlight on uniquely impactful agri-food initiatives and technological innovations that can be replicated across the continent to increase food security, spur economic growth and development, and eliminate hunger and poverty in Africa. The Africa Food Prize is hosted by AGRA, an African-led and Africa-based institution that puts smallholder farmers at the center of the continent’s growing economy by transforming agriculture from a solitary struggle to survive into farming as a business that thrives. AGRA is headquartered in Kenya and works in 15 African countries.

This year, Dr. Eric Yirenkyi Danquah, a plant geneticist from Ghana, was awarded the prestigious prize during September’s AGRF Summit in Kigali, Rwanda. Dr. Danquah was celebrated for his outstanding expertise and leadership in establishing the West Africa Centre for Crop Improvement (WACCI) and developing it into a world-class center for the education of plant breeders in Africa.

Nestlé will contribute CHF 100,000 to the Africa Food Prize, which will be awarded in 2023. Part of the contribution will go to the main award and part to a special category focusing on innovations that advance regenerative food systems.

Remy Ejel, Chief Executive Officer of Zone Asia, Oceania and Africa, Nestlé S.A. said, “Transforming agriculture to be more productive and sustainable is key to reducing hunger and improving livelihoods for the long term. We aim to support and amplify efforts that spearhead regenerative agriculture and food systems to enable better productivity, better nutrition and better incomes for people in Africa.”

Commenting on the partnership, Dr Agnes Kalibata, President of AGRA said, “We are happy to be partnering with Nestlé to recognize Africa’s best in food systems. The Africa Food Prize is a great opportunity to shine a bright spotlight on Africa’s outstanding minds, giving the rest of us a chance to learn and replicate their good work that is moving us closer to sustainable, inclusive and resilient food systems and achieving the United Nations Sustainable Development Goals 2 on Zero Hunger.”

Nestlé’s partnership with the Africa Food Prize builds on its years-long work in Africa to improve the continent’s nutrition and agriculture. The company has taken great strides to expand access to affordable nutrition in many communities, for example, by fortifying Maggi bouillon cubes with iron in Central and West Africa. It is also pioneering regenerative dairy farming with the establishment of the first net zero dairy farm in Skimmelkran, South Africa.

In early 2022, Nestlé launched an innovative income accelerator program, aimed at addressing child labor risks and closing the living income gap for cocoa-farming communities in Côte d’Ivoire and Ghana. Recently, Nestlé announced an investment of CHF 1 billion by 2030 under the Nescafé Plan to transition to sustainable coffee farming, including in Côte d’Ivoire.

Entries in the Africa Food Prize are evaluated by a judging committee comprising some of Africa’s greatest food system leaders. Winners are selected based on proven results and scalable efforts.

Submissions for next year’s Africa Food Prize will be open from January 2023 and winners will be announced at the AGRF, Africa Food Systems Forum, in September.

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MoneyMaster PSB Promotes Mobile Wallet at Ojude Oba Festival

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MoneyMaster Payment Service Bank Limited (MMPSB), a leading payment service bank, is attending the 2024 Ojude Oba Festival to promote its mobile wallet, which simplifies banking transactions in the country.

The Payment Service bank is licensed by the Central Bank of Nigeria and insured by NDIC to promote financial inclusion in furtherance of the Nigerian financial literacy initiative driven by the Central Bank of Nigeria. With Moneymaster, Nigerians can open mobile wallets, savings account, individual and business accounts to make payments, buy airtime, pay utility bills to over 4,000 companies.

It was recently appointed a payment partner to the Ounje Eko initiative by the Lagos State government in its bid to provide discounted food items to residents of the state amidst rising cost of food items. Moneymaster is positioned to support individuals and businesses in their journeys towards financial prosperity by offering bespoke financial services that meet their aspirations.

In a press release issued at the weekend, Moneymaster said it is rounding off a month-long market activation, engaging indigenes and residents of Ijebuland to come onboard its digital banking platform – mobile wallet. Moneymaster mobile wallet avails customers the opportunity to transfer or withdraw cash from an agent, buy airtime and pay utility bills.

It added that during this month-long activation, customers in Ijebuland who open an account stand a chance of winning free airtime amongst other gift items.

The PSB further said that the drive towards a cashless economy can become a reality when more and more Nigerians embrace mobile wallet so as to help them cultivate a more convenient savings habit and also enable them engage in banking transactions with ease.

“While we rejoice with the people of Ijebuland at this time, we also want to showcase what we have in Moneymaster’s mobile wallet that can help various people to enjoy seamless banking from their phones”, the statement said.

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MultiChoice Obeys Court Order, Makes Downward Review of Subscription Cost

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Following a court order mandating it to halt the move to hike prices, MultiChoice has readjusted its subscription rates for DStv and GOtv users in Nigeria.

The company had vowed to challenge the order of the Competition and Consumer Protection Tribunal’s ruling in Abuja after reporting a decline in its subscriber base in Nigeria, leading to the loss of over a million subscribers.

MultiChoice has reflected the readjustment on its company’s apps as at Sunday, June 16, 2024.

Due to the adjustments, DStv subscribers will now pay N29,500 instead of N37,000 for the Premium package, while Compact+ package subscribers can now pay N19,800 instead of the new price of N25,000.

The readjustment now have Compact Bouquet subscribers paying N12,500 previously being charged instead of N15,700, while Confam package subscribers will pay the old price of N7,400 instead of N9,300 per month.

For the Yanga package subscribers, old rate of N4,200 will be paid against N5,100 placed as new rate; while Padi subscribers will pay the former price of N2,950 instead of the N3,600.

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Record Financial Performance: Fidelity Bank Plc Promotes 11% of Workforce

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Leading financial institution, Fidelity Bank Plc has announced the promotion of 11% of its workforce, a testament to the exceptional performance and dedication of its employees.
This significant move follows the release of the bank’s 2023 full year Audited Financial Statements, which reported an impressive 131.5 percent growth in Profit Before Tax (PBT) to N124.26 billion.
The recent promotions span every level within the bank, reflecting Fidelity Bank Plc’s commitment to recognizing and rewarding excellence across its entire organization. This strategic initiative has garnered positive reactions from staff members, who see it as a validation of their hard work and contribution to the bank’s remarkable financial achievements.
In addition to the promotions, Fidelity Bank Plc has also concluded arrangements to raise a total of N127.1 billion through a Rights Issue to existing shareholders and a Public Offer. This move is part of the bank’s broader strategy to strengthen its capital base, support future growth, and enhance shareholder value.
Fidelity Bank Plc’s impressive financial performance and the subsequent employee promotions highlight the bank’s robust operational strategy and its commitment to fostering a rewarding work environment. By investing in its people and ensuring their career growth, the bank continues to build a motivated and high-performing workforce.
Ranked as one of the best banks in Nigeria, Fidelity Bank Plc is a full-fledged customer commercial bank with over 8.5 million customers serviced across its 251 business offices in Nigeria and the United  Kingdom as well as on digital banking channels.
The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.
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