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Interswitch Partners Equity Bank Uganda to Provide Affordable Services
Interswitch, Africa’s integrated payments and digital commerce company, has partnered with Equity Bank, one of the top Banking Groups in East Africa, to provide the Bank’s customers with faster and more affordable banking services at over 650 Interswitch-enabled ATMs belonging to 17 local banks in Uganda.
This arrangement mirrors Interswitch’s operations in Nigeria and Kenya as it will also enable Equity Bank’s ATM machines to accept bank cards of other local participating banks and institutions on the Interswitch network.
Equity Bank also becomes an acquirer for Verve cards, adding to its wide portfolio of cards accepted by all Point-of-Sale (POS) machine locations and ATMs countrywide. There are approximately 250,000 Verve card holders in Uganda.
Interswitch in a statement noted that this partnership was unveiled in Uganda recently.
In announcing the partnership at a press launch Country General Manager for Interswitch Uganda, Peter Kawumi, noted that the partnership is ideal and timely.
He pointed out that for the past 20 years, Interswitch has provided technology solutions to businesses in Africa, to allow them to provide their customers with accessible, seamless, and affordable banking services.
“This partnership demonstrates an interesting shift in the attainment of service quality and competitive advantage. By joining the Interswitch network, Equity Bank will now benefit from the entire ecosystem that includes all the other financial institutions and their consumers in Uganda and across the region. In this way, Equity Bank has achieved two key things,” said Kawumi.
Speaking about the latest partnership, Mitchell Elegbe, Founder/Group Managing Director, Interswitch Group said: “Once more, we reiterate our commitment to making payment more accessible, convenient and affordable for Africans. Our partnership with Equity Bank enhances the interoperability efforts of the Ugandan financial industry and banking sector.”
Speaking during the launch, Equity bank Managing Director Anthony Kituuka said, “We are delighted and proud of our rapid growth and expansion in Uganda over the last 15 years, bringing us to 50 branches, 7,000 Equi Duuka agents and over 6,500 merchants. This new partnership with Interswitch will support the existing network, allow us to serve our customers better and meet their financial needs right at their doorsteps.”
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.
Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.
It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.
“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.
The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.
Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.
The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.
Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
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