Fidelity launches 'Reach for Gold'

Fidelity launches ‘Reach for Gold'

By Bernard Yaw ASHIADEY

Fidelity Bank has launched a new promotion, ‘Reach for Gold,’ at a ceremony in Accra.

The six-month-long campaign, which is the second after the successful ‘Go for Gold’ campaign, is aimed at encouraging Ghanaians to cultivate a habit of savings.

It also seeks to promote excellence in sports, education, community participation and entrepreneurship throughout the country.

Managing Director, Edward Effah, said this year’s promotion is in line with the Olympics, which give gold medals to symbolise the highest honour and also to encourage all Ghanaian athletes to strive towards achieving gold to make the nation proud.

“To our sportsmen, Fidelity Bank says ‘reach for gold – be the best in Ghana, Africa and the world. Push yourself beyond limits and be the next Azumah Nelson or Usain Bolt’.”

Mr. Edward Effah urged students, entrepreneurs, SMEs, and communities to ‘reach for gold’ in their fields of endeavour because the bank is always there to support them in every need.

Onesimo J. Mukumba, Director, Consumer Banking of Fidelity Bank, stated that every cedi account holder at Fidelity Bank can participate in the promotion by opening an account with GHc 300 or topping-up with the same amount.

The mechanics for this year’s campaign include depositing and maintaining GHc 300 or multiples of it in your current or savings account for one calendar month, and you will stand a chance of winning either in the five monthly draws from now till February 2012, or in the grand draw in March 2012.

“The grand prize at stake is a 24-carat 1kg gold bar worth over GHc 120,000. The bank is also giving out two ‘golden’ tickets (all expenses paid for) to the 2^nd prize winner to be a part of the

London Olympics next year, and the 3^rd prize winner gets one ‘golden ticket’ (all expenses paid) to an African destination of choice.

On a monthly basis, there will be raffle draws nationwide and the winners will take home gold coins worth up to GHc 3000.

Established in 2006, Fidelity Bank has expanded its assets and deposits over the last five years.

It has a customer base of over 160,000 and a network of 31 branches with a target of 40 by end-year. The bank added 41,000 customers after it launched last year’s ‘gold bar’ promotion.

At the recent banking awards, it was adjudged the best bank in customer service and second-best in electronic banking.

Is Eto'o's new salary the best in sport?

Samuel Eto'o's move from Internazionale to Anzhi Makhachkala is not only going to make him the best-paid player in football history, but likely the sportsman who pockets the best salary in any sport according to the Wall Street Journal.

The striker is set to earn a reported 25 million euros per year (£21.8m), sending him well clear of multi-millionaire football stars such as Lionel Messi, Cristiano Ronaldo and Sergio Aguero.

The Wall Street Journal claims that it also puts him ahead of the top stars of US Sports like basketball, American football and baseball and lists Ferrari Formula One driver Fernando Alonso as the only man who can rival Eto'o in terms of pure salary (not including endorsements).

Alonso is paid an estimated $40 million a year (£24.2) by Ferrari but the tax breaks Eto'o is expected to earn in Russia would put him ahead of the Spanish star.

When considering all earnings, not just salary or prize money, Tiger Woods is still the world's top earning sportsman according to Forbes magazine's respected rich list published at the end of May.

Woods still earned an estimated $75 million over the past 12 months (£45.5m) even though all his troubles on and off the course has seen his annual earnings drop by around $50 million over the last two years.

Second on the Forbes list was LA Lakers' basketball star Kobe Bryant who made $53 million (£32.2) in the last year.

Forbes estimated that Eto'o made a total of 8 millions euros (£7.02m) last year, which included endorsements from the likes of Puma and Ford on top of his salary at Inter.

Eto'o's new club is based in the troubled southern Russian region of Dagestan, and the Cameroon international is set to sign a three-year contract.

Anzhi are owned by billionaire Suleyman Kerimov, and have made an impressive recruitment spree, bringing in stars such as Brazil legend Roberto Carlos and ex-Chelsea winger Yuri Zhirkov.

Eto'o, 30, won two Champions League titles with Barcelona before joining Inter in 2009. He won a Serie A, Italian Cup and Champions League treble in his first season in Italy.

Bon Vi rewards consumers

By Bernard Yaw Ashiadey

Bon Vi Ghana, producers of the refreshing sugar and caffeine-free energy drink, Bon Vi Healthy Drink has rewarded consumers in a first of weekly draw in their “mix it up” promotion in Accra last week.

The company, which is dedicated to focusing on nutrition, personal care and household products, created the promotion to reward people for being consumers of the drinks, which come in four different -- flavours, orange, strawberry, blue ice and lemon blast.

The Managing Director, Bon Vi Ghana, Blasko Ristic, who presented the prizes to the various winners, advised them to use the prizes they have won to improve upon their daily lives through exercising so that they will have a healthy life.

A delighted Alex Martin took home the biggest prize of the week -- a brand new Yamaha motorcycle from Japan Motors. Other awards were a brand new bicycle each to Kofi Amoah and Cherubim Atsu, James Amoah a photographer, received a whole year’s supply of Bon Vi products, and Steven Foli received a football.

Jacqueline Nwandu, the Marketing Director, encouraged other consumers to also participate in the promotion to win lots of prizes.

She added that to show their commitment and appreciation to consumers, the draw has been extended from July 31^st to August 15.

To enter the weekly draw and win various prizes, consumers are to present ten empty packets of Bon Vi healthy drinks to any of the company’s outlets.

MTN opens ICT Centre at New Ningo

By Bernard Yaw Ashiadey

MTN Ghana with support from the United Nations Development Programme (UNDP) has opened an Information Communication and Technology (ICT) centre of learning at New Ningo in the Greater Accra Region to help boost the level of ICT education in the community and its environs.

The centre, which is the first of ten centres to be commissioned in the ten regions, is under the auspices of the MTN Foundation, which seeks to provide health and educational facilities to deprived rural communities.

Lord Paul Boateng, Patron of the Foundation, commissioning the centre encouraged both students and teachers of the schools in the community to take full advantage of the facility because the world is now being driven by ICT.

“Since the world is changing due to technological advancement everyday, teachers and students must learn how to use these computers in order to help the younger generation to be well equipped for the future.

“The youth of the community must take advantage of the centre to equip them and be abreast with developments across the country and beyond,” he said.

He added that members of the community should cultivate a maintenance culture in order to keep the facility in good shape at all times so that the children of today will grow up and still meet the centre as it is today.

The Deputy Minister of Education, Mahama Ayariga, reiterated government’s commitment to education and the provision of ICT infrastructure to help improve the level of ICT education in the country.

“Government will continue to invest in the ICT education at all level because ICT represent the future development of the continent.

“Government appreciates effort by the private sector to help promote ICT education in the country and also appealed to other organisations to invest in ICT education because it is vital to the development of the country.

Pension law whets appetite

By Dominick Andoh and Bernard Yaw Ashiadey

The new pension law, the National Pension Act 2008 (Act 766), has precipitated interest in investment advisory services, the Securities and Exchange Commission has disclosed.

Since the law’s promulgation in December 2008 and the subsequent take-off of the scheme in January 2010, 56 licences have been issued with more pending.

This is closely followed by 24 licences issued for broker dealers, with one pending.

The Director General of the Securities and Exchange Commission, Mr. Adu Anane Antwi, in an interview with B&FT in Accra cited establishment of the pension fund under the new pension law as the main reason for the upsurge in advisory services.

The first tier of the three-tier pension scheme consists of a mandatory basic national Social Security Scheme, partially funded, which is compulsory for all contributors. This will be administered by SSNIT.

The second tier is a mandatory fully-funded and privately managed occupational pension scheme. Each contributor will be paid a lump-sum on retirement by the selected private fund manager.

The third tier is also a voluntary, fully-funded and privately managed provident fund and personal pension scheme. Each contributor under the third tier will either be paid a lump-sum or monthly pension depending on choice at retirement by the chosen private fund manager.

Mr. Anane said licenced investment advisors will therefore be in pole-position to manage private funds.

He the further added that the securities market in Ghana is beset with a number of problems, including the effort of liquidation and the small number of companies listed on the Ghana Stock Exchange (GSE).

Mr. Anane disclosed the securities law, which is under review, will seek to separate fund managers from investment advisors.

“We want to make sure that we have fund managers who will be regulated differently with different tools, different from investment advisors,” he said.

The reforms, when passed, are expected to ensure transparency in the securities market and will be of much benefit to companies that are listed on the GSE.

MTN provides ICT Centre for Abossey Okai Spare Parts Dealers

By Bernard Yaw Ashiadey

MTN Ghana has established an ICT Centre valued at GHc 65,000 for the Abossey Okai Spare Parts Dealers Association to help meet the business needs of the people in the community.

The centre equipped with 25 computers and accessories, 4 printers, a projector and screen, 240GB data and 3 MTN broadband routers among other items will serve the business needs of the over 16000 members.

The Chief Marketing Officer of MTN Ghana, Rahul De expressed his excitement that MTN has brought its ICT services closer to the Abossey Okai community. This, he said, is part of MTN’s commitment to help boost the ICT capacity of Small and Medium-Scale Enterprises (SME’s), in Ghana through its Business Solutions.

“We at MTN recognise the critical role SME’s hold in our nation’s economic growth and development. We are committed to partnering with you all as we provide you with the required support to help your businesses to grow.

“I would encourage the Association and Abossey Okai community not to relent efforts in maintaining this facility as we hand over so that it can continue to serve your business and telecommunication needs,” he said.

The Chairman of Abossey Okai Spare Parts Dealers Association, Joseph Paddy, expressed gratitude on behalf of the Association and the community and assured MTN that the facility will be maintained.

“We would like to extend our gratitude and thank to MTN that they have made it possible for the dream to become a reality. Today marks a very important occasion in the life of Abossey Okai Spare Parts Dealers.

“In order to ensure the sustainability of this centre, we will make maintenance a culture so as to keep it in shape. We entreat all members to make good use of the centre in order to grow and develop our business,” he added.

200 of the Association members will receive training from INTU-UT, a project partner, for 10 months. This is to sharpen the ICT skills of the members to enable them take full advantage of the facility and also retrain members.