Ecobank introduces mobile banking with Zap

Ecobank Ghana, a subsidiary of Ecobank Transnational Incorporation (ETI) on Wednesday introduced another innovative product dubbed ‘Ecobank mobile banking’ onto the Ghanaian market.
The product works in partnership with Zap, a mobile commerce service that allows Zain, now Bharti Airtel, customers to use their mobile phones like a mobile wallet to pay for utility bills and goods and services.
“For the first time in Ghana, mobile phone customers can manage their bank accounts using their mobile phone. They can transfer funds from their Ecobank account to their phones, transfer funds between Ecobank accounts and check their account balances at their own convenience anywhere and at any time. The Zap service continues to bring safety and convenience to the everyday lives of our customers with this new service”, said Philip Sowah, Managing Director of Zain Ghana at the launch of the product in Accra in a statement read on his behalf.
He added “We strongly believe innovative products like Zap is a strong contributor to this occurrence”.
The new product is, however, expected to provide faster banking service whilst expanding the customer base of both Ecobank and Zain through the provision of easy access to funds using the mobile phone.
The product allows customers of Ecobank with Zain’s Zap service account to use their mobile phones to; send money to Ecobank accounts, receive money from Ecobank accounts, transfer money between two Ecobank accounts, check bank balance, check bank statements.
Furthermore, they could also use the product to pay bills and also pay for goods and services, receive and send money to friends and family, withdraw or receive funds from accredited agents across the country and top up their own airtime or someone else.
“This is real banking in your palm and something that we are bringing to the door step of our customers”, recounts Owureku Asare, Head, Transaction Banking, Ecobank.
Customers of Ecobank, according to Owureku Asare could transact business with any of Zap’s 600 agents countrywide.
Commenting on the new product, the Managing Director of Ecobank who doubles as the Cluster Head of Ecobank West Africa Monetary Zone (WAMZ), Samuel Ashitey Adjei said the introduction of the ‘Ecobank mobile banking’ product is “an exciting new way of doing financial transactions at your finger tips”.
He believes that the new product will help attract the under-banked and unbanked population into banking in the country.
The Head of the Banking Supervision Department of the Bank of Ghana, Nicholas Okoe Sai commenting on the product said “This is an evolution of the Ghana Interbank Payment and Settlement System” and however, entrusted stakeholders in the banking industry to ensure that certain fundamental systems are in place for the smooth operations of electronic banking in the country.
“The Payment System needs to be highly secured and occasionally reliable. The System should be transparent and easily accessible to users. Rules relating to accountability and responsibility of stakeholders should clearly be spelt out. Participants should be committed to responsible banking in practice as far as disclosure of information is concerned”, he noted.
Mr. Sai, however, advised players in the banking industry to effectively manage the risk associated with such electronic products so as to sustain public confidence in the system.

CAPS:Nicholas Okoe Sai officially launching the Ecobank Mobile Banking product in Accra

Welfare of veteran soldiers must be improved -MPs declare

Members of parliament (MPs) yesterday paid glowing tribute to the country’s gallant soldiers who fought for peace and human rights in the world Wars I and II.

However, the MPs expressed worry over the continuous deteriorating welfare of the veteran soldiers, a situation, they said, needed immediate attention.

“One thing that we fail to note is that some of these veterans are now facing the brunt of their occupational hazards. These are former para-jumpers, who now have knee and stability problems and are wheelchair bound; there are also the bombardiers and artillery personnel who have hearing problems and permanent headaches,” recounts the National Democratic Congress (NDC) MP for Ho Central, Capt. G. K. Nfojoh (rtd), in a statement read on the floor of the House to honour the veteran soldiers.

He argued that ever since the introduction of the Veterans Association of Ghana (VAG) lottery to cater for the veteran soldiers, the Association of Physically and Mentally Challenged, Association of the Aged, and the Association of the Orphans and Destitute Children, “nothing has happened in that respect.”

“Considering the meritorious service rendered by these gallant men and women to the nation, the meager pension pay given them is woefully inadequate to sustain them. It is important for the government to consider instituting a Special Fund for the Retired Officers and Ex-servicemen and Women, in order to address their plight,” noted the New Patriotic Party (NPP) MP for Nkoranza North, Major Derek Oduro (rtd), in joint statement to honour the veterans.

Contributing to the statements, the NPP MP for Sekondi, Papa Owusu-Ankomah, said the welfare of the veteran soldiers should be of national concern, and however, called on the Ministry of Sports to organise matches so that the proceeds would be used in taking care of them (veterans).

The NDC MP for Ablekuma South, Frederic Fritz Baffour, also added his voice to the call for improving the welfare of the veteran soldiers, by calling on the government to put structures in place to help rectify the issue.

The NPP MP for Akropong, William Ofori Boafo, contributing the statement, said the occasion should be extended nationally, to enable all the people to participate.

Yesterday, November 11, 2010 was ‘Remembrance Day’. It is an occasion celebrated on November 11 each year to remember those who were killed in World Wars I and II.

Formerly known as Armistice Day, the day became effective at 11:00 a.m. on November 11, 1918, when the guns fell silent on the Western front in France and Belgium, thus ending four years of hostilities. Ghana, then the Gold Coast, being part of the British Empire, also sent her sons overseas to fight in this war, and some lost their lives in action.

The day also underscores the paramount need, not only to stop wars, but also to pursue the idea of peace at all costs and at all times, as the only condition for the survival of the human race.

Time to embrace paper bags is now!

A Member of Parliament (MP) for Asante Akim North, Kwame Anyimadu-Adu, has expressed concern over the level of aquatic pollution in the country.

According to him, the situation, if not checked immediately, would have a rippling effect on aquatic life and fishing activities, a phenomenon, he said, would have a heavy toll on the country’s scarce resources.

His concern was born out of the continuous littering of plastic bags and other materials into the sea and waterbodies across the country.

Anyimadu-Antwi was speaking in an interview with The Chronicle, after a delegation of the Parliamentary Select Committee on Water Resources, Works and Housing, led by David Tetteh Assumeng, recently visited Ada to familiarise itself with the ongoing ‘Ada Coastal Protection Urgent Measures’, a project aimed at reclaiming lost lands, whilst protecting lives and properties from the devastating sea erosion.

“Something needs to be done to protect aquatic life in the country. Everywhere along the coast is polluted. There is so much plastic bags in the sea, and this should tell you the level at which it has been polluted. As a country, we need to sit up and address this issue. We have to re-examine the laws governing waterbodies, and see if we can do something to reduce this level of pollution,” he noted.

He added: “Maybe it is time we start introducing paper bags in the country. Another school of thought is the introduction of a levy on the producers of plastic bags, to raise revenue to address the problem. We can employ people to start picking these plastic bags along the coastal communities, and that is another way of creating employment.”

Mr. Anyimadu-Antwi said protecting aquatic life should be the number priority of the country, and called for all hands on deck in addressing the issue.

Welcome on board: Construction of €67m Ada sea defense wall to start...

Welcome on board: Construction of €67m Ada sea defense wall to start...: "The people along the coastal line of Ada in the Dangbe East District of the Greater Accra Region would from January 2011 begin counting th..."

Construction of €67m Ada sea defense wall to start in January

The people along the coastal line of Ada in the Dangbe East District of the Greater Accra Region would from January 2011 begin counting the days when they would finally be relieved from the threats of sea erosion when construction of the €67m sea defense wall in the area begins.
The project being undertaken by Dredging International Service from Cyprus, experts in marine and waterways construction is expected to be completed in 2013 bearing any unforeseeable challenges.
This came to light when a delegation from the Parliamentary Select Committee on Water Resources, Works and Housing led by its Chairman, David Tetteh Assumeng visited Ada on Thursday to familiarize itself with the ‘Ada Coastal Protection Urgent Measures’; a project aimed at reclaiming about 5,000 meters of lost land whilst saving lives and properties from the destructive effect of the sea along the coastal line of Ada.
Briefing the delegation on the project, Deputy Director (Hydro), Ministry of Water Resources, Works and Housing, Hubert Osei-Wusuansa said plans are far advanced to begin construction of the project in January, 2011.
According to him, design of the project is at its final stage and would be completed in December to pave way for construction of the sea defense.
“Work is on schedule and the contractor is ready and waiting for the final design to begin construction of the project”, he said.
He said consultancy by the contractor had been done including measurement of the site and the acquisition of data for the construction works. Other activities which have been completed according to Osei-Wusuansa include; preliminary construction of site offices, general construction works and the preparation of quarries for the supply of amour rocks had been competed.
The amour rocks are expected to be laid into the sea at a distance similar (200m) to that of the Keta sea defense wall, said Osei-Wusuansa. Additional rocks are to be laid at desire distances where the groins are expected to be filled with sand dredged from the estuary, thus where the Lake Volta meets the sea.
However, Osei-Wusuansa was quick to add that the dimensions of the groins will be determined by the final design for the project.
David Tetteh Assumeng who doubles as the NDC MP Shai Osudoku expressed the hope that work would begin as planned in order to save lives and properties along the coastline of Ada.
“The whole coastal stretch is under threat now and work must soon commence to save the people from further harm”, noted David Tetteh Assumeng.
The delegation was also taken round to inspect the preliminary construction of site offices of the project contractor, Dredging International.
The devastating sea erosion has been a threat to the coastal line of Ada for about five decades now claiming lands and destroying properties.
Forts, prisons and other monuments constructed by the colonial government have already been engulfed by the sea.
The Chief fisherman of Azizanya, Torgbui Akrofi Kabu recently told nyu.edu that ten miles into the sea used to be dry land and that was where they lived but today, the story is different as there are no lands on which farm anymore.
Also, Minister for Education, Alex Tettey Enyo in a recent GNA publication said over 5,000 metres of land have been sub-merged and that if the remaining land, which is a little bit above sea level is washed away, in a matter of days, the whole Ada land would be submerged.
The Director of Radio Ada, Kofi Larweh also told nyu.edu that research conducted in area revealed that at least two meters of land is lost to the sea every week, at certain times of the year. “If this phenomenon continues, very soon the whole of Ada will be washed away”, he argued.
However, nyu.edu in a recent publication said the threat is not only from the sea but also ejection from land owners who find the site more appropriate for the hospitality industry, hotels and chalets.

Welcome on board: Ghana's vice president cited in £40K ‘Chocfinger’ ...

Welcome on board: Ghana's vice president cited in £40K ‘Chocfinger’ ...: "Vice President John Dramani Mahama has allegedly been cited by UK media reports for being lobbied to help Armajaro Holdings’ trading ban li..."

Ghana's vice president cited in £40K ‘Chocfinger’ lobbying saga

Vice President John Dramani Mahama has allegedly been cited by UK media reports for being lobbied to help Armajaro Holdings’ trading ban lifted in Ghana.
Conservative cabinet minister, Andrew Mitchell was reported to have intervened on behalf of the owner of Armajaro Holdings, Mr. Ward, nicknamed ‘Chocfinger’ after £40,000 donations were made to his parliamentary office between August 2006 and December 2009, according to the UK Sunday Times in its October 31 publication captioned ‘Chocfinger’s Tory donation pays off’.
The company also gave £50,000 to the Conservative Party in May 2004.

Armajaro Holdings was among several other cocoa buying companies banned in Ghana following their alleged involvement in the smuggling of cocoa beans to neighbouring Cote d’ Ivoir.
Their under dealings were uncovered by investigative reporter, Anas Aremeyaw Anas in an extensive clampdown on smuggled cocoa beans in the western corridors of Ghana recently.
‘No wrong doing’
However, Vice President John Mahama has denied any wrong doing for his involvement in helping Armajaro Holdings gets its trade ban lifted.
His (Vice President John Mahama) speaking on Joy news said “we remember meeting with the British Minister in charge of African Affairs and he raised an issue with Armajaro and their concern was that if an employee of the company is caught committing an offence, you don’t embark on a collective punishment of the entire company and this is normal”.
According to him, the Vice President directed the affected company to petition the Ghana Cocoa Board on the concerns raised for redress.
According to the UK dailymail, Mr Ward had approached Vice President Mahama over a ban that had been imposed on his firm in Ghana, and asked him to lobby against the restriction ‘at a presidential level’.
Mr Mitchell, a Tory, apparently phoned the British High Commissioner in the West African state over the matter, even though it was strictly outside his department’s remit.
His officials also contacted the Foreign Office to say that the partial ban on Armajaro Holdings – imposed amid allegations that one of its contractors had been smuggling cocoa – required ‘urgent attention’.
Foreign Office minister Henry Bellingham then lobbied Ghana’s vice-president on behalf of Mr Ward’s company. The ban is said to have been lifted in all but one of the country’s districts – the one where the smuggling allegations occurred – in August.
The ministerial code according to the UK dailymail states: ‘Ministers must ensure that no conflict arises, or could reasonably be perceived to arise, between their public duties and their private interests, financial or otherwise.’
Internal government documents disclosed under freedom of information laws suggest Foreign Office civil servants raised questions as to why the Government should intervene to help Mr Ward’s company.
However, a spokesman for the Foreign Office has also denied any wrongdoing in their intervention to help Armajaro Holdings gets its trade ban lifted.
Mr. Mitchell’s office according to the SundayTimes also insists of doing no wrong since laid down ministerial procedures were followed in addressing the issue.
Andrew Mitchell faces questions over ‘chocfinger’
Meanwhile, the UK Independent reports that cabinet minister Andrew Mitchell faces a parliamentary inquiry into his links with Mr. Ward, the cocoa magnate who donated £40,000 to his political office.
Sources close to the minister insisted that proper procedures were followed. But a Labour MP last night referred the case to the Commons standards watchdog, claiming the contacts between the two men raised serious questions about the minister's conduct, report The Independent.

Caption: John Dramani Mahama, Vice President of Ghana.