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Team Europe Launches New Financing Platform to Support Health Security and Resilience in Africa

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European Investment Bank - Investors King

Ursula von der Leyen, President of the European Commission and Werner Hoyer, President of the European Investment Bank today outlined a new initiative to boost financial and technical support to enhance health resilience and improve healthcare skills across Africa.

The Sustainable Healthcare Industry for Resilience in Africa (SHIRA) financing platform will enable political and development finance partners to coordinate and strengthen health security and resilience in Africa.

SHIRA will support wider Team Europe engagement by mobilising private sector investment by providing long-term financing to scale up investment in medical research, diagnostic and treatment facilities and local healthcare supply chains.

Under the new partnership the European Investment Bank, European Development Finance Institutions and other African and international partners will mobilise financing for new investment essential to improve access to affordable healthcare and share technical best-practice to address healthcare weaknesses highlights by the ongoing COVID-19 pandemic.

“Europe and Africa stand side by side in the battle against COVID-19 and to strengthen health resilience in the future. This new platform will support the Team Europe Initiative on manufacturing and access to vaccines, medicines and health technologies in Africa” said Ursula von der Leyen, President of the European Commission.

“Increasing investment that strengthens health security is crucial to protect lives and learn from the COVID-19 pandemic. The EIB has unique technical and financial experience in supporting vaccine development, public health and innovation around the world. This promising new scheme to scale up healthcare resilience in Africa provides a clear path to work with African, European and international partners,” said Werner Hoyer, President of the European Investment Bank.

The new SHIRA financing platform was announced at the Global Health Summit taking place today in Rome, alongside other Team Europe initiatives to strengthen vaccine production, medicine manufacturing and health technology development in Africa.

Health challenges highlighted by COVID-19

The COVID-19 pandemic has exposed clear weaknesses in local vaccine manufacturing and pharmaceutical production capacity, leading to shortages and limiting access to health services in Africa. Limited of funding for private sector investment is further preventing treatment and prevention of endemic diseases across Africa and access to affordable health products.

Sustainable Healthcare Industry for Resilience in Africa responds to the clear need to mobilise and enable private sector investment that strengthens health security and resilience across the continent by developing manufacturing and supply capacity.

The new financing platform for health security and resilience in Africa has been developed following in-depth discussions with African and European political and development finance partners.

Unlocking investment in healthcare, vaccine research and skills

The aim is to back new investment to improve health sector preparedness and response, strengthening production of vaccines, diagnosis, treatment and essential equipment including PPE and oxygen, improving vaccine development and specialist skills, and sharing digital e-health and telemedicine best practice.

Long-term financing, investment grants, innovation support and technical assistance will help to address investment challenges and unlock health investment. It will make a significant contribution to achieving sustainable development goals, including SDG 3 ensuring health lives and well-being, SDG 10 reducing inequality, SDG 9 industrialisation and SDG 5 gender equality.

European and African partners are expected to finalise details of the new initiative in the coming months.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Insurance

AXA Mansard Launches MyAXA Plus – A Better, Faster, and More Convenient Mobile App

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MyAXA App- Investors King

AXA Mansard Insurance Plc, a member of the AXA Group and global leader in insurance and asset management, today announced the launch of its new “MyAXA Plus” mobile application.

This follows the launch of the company’s first mobile app in 2017 and further underscores the company’s desire to deliver delightful and relevant, cutting-edge financial solutions to its customers and the larger society.

“MyAXA Plus” has been very well received because it provides a much improved, seamless, and satisfying experience that puts users at the heart of every feature and action on the app.

The features available at launch include:

  • Make Claims: Customers can make claims on their insurance policy, enabling fast reporting of incidents and payment of claims by the company.
  • Book Hospital Visits: HMO customers of AXA Mansard can receive care at over 1,700+ hospitals, and with MyAXA Plus, they can also pre-book hospital visits, reducing their wait time while also getting faster access to specialist consultations.
  • Renew Insurance Policy: Customers, by providing their car plate number on the app, can also renew their motor insurance policy within a few minutes.
  • Invest & liquidate funds: Investors, whether with a high or low-risk appetite can find the right investment options on the app. Also, liquidation of funds and crediting of the customer account is completed within 5 minutes via the app.
  • Data-driven advice: App users can make informed decisions by checking the market rates and trends before investing funds, reading articles by experts, and interacting with a robot-advisor that uses information provided by the customers to suggest the right products and insurance cover in seconds.

In addition, MyAXA Plus allows registered and unregistered users to generate instant quotes of any product; use the BMI calculator; read blog articles; check investment trends & rates; calculate returns on investment; calculate the market value of any car; and contact sales agents for more information.

“After launching the first of its kind MyAXA mobile app which gave customers a consolidated, single point of access to their general and life insurance; health insurance; assets and savings accounts in 2017, our team set out to build a more advanced solution to further empower customers to achieve their financial goals and access quality healthcare, wherever and however they choose,” said Mr. Bayo Adesanya, the Chief Digital Innovation Officer at AXA Mansard.

“We are committed to achieving the singular goal of putting our customers first, in this instance, by building an app that incorporates their feedback on desired features and improvements, as well as including other market-leading innovations. We urge our existing and future customers to start using MyAXA Plus today.”

To download MyAXA Plus by AXA Mansard Insurance, visit App Store for iOS users and the Google Play Store for Android users respectively.

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Banking Sector

CBN Grants Lotus Bank Non-Interest Banking Licence

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Lotus Bank- Investors king

The Central Bank of Nigeria (CBN) on Thursday, June 17, granted a non-interest banking licence to Lotus Bank Limited.

This was contained in a statement titled ‘CBN grants Lotus Bank licence to commence non-interest banking operations’.

The statement read in part: “Lotus Bank seeks to pursue the mission of creating value and growth for all through digital innovation and best-in-class customer experience for Nigerians.”

Commenting on the grants, the founder and managing director of Lotus Capital (the pioneers of non-interest finance in Nigeria), Hajara Adeola, said the bank was starting its operations on a solid foundation of experienced leadership and a strong advisory council of experts.

Adeola explained that the bank is managed by a team of seasoned professionals and financial experts led by the Managing Director/Chief Executive Officer, Kafilat Araoye, who has over 25 years of commercial banking experience.

She added that the institution’s focus and guiding principle is ‘to deliver an alternative option to interest-based banking and to cater to the needs of not just the banked but also the underbanked and unbanked population.

According to her, non-interest banking was geared towards supporting the real sector and Lotus Bank aimed to improve financial inclusion in the country.

The founder of the bank, however, disclosed that it would operate transparent pricing models as it was the norm in non-interest banking.

The statement added: “Our values are deeply rooted in partnership. A critical component of our mission is the provision of innovative solutions that drive ethical prosperity for all stakeholders.

“We pride ourselves on digital solutions that provide our customers with the convenience of unlimited access to our services and products.”

“Our products and service offerings will include non-interest business financing, deposit products (current, savings and investment accounts) and personal financing.”

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Banking Sector

Fidelity GAIM Season 4 Final Draw To Hold On July 22

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Fidelity Bank- Investors King

One of the leading financial institution in Nigeria, Fidelity Bank Plc, has announced plans to enrich the lives of fifteen Nigerians with a total of 39 million Naira at the final draw of the “Get Alert in Millions Campaign (GAIM)” Season 4 savings promo, slated for July 22, 2021.

The savings promotion, which is specifically aimed at promoting the culture of saving among Nigerians, is one of the bank’s many initiatives aimed at rewarding new and existing customers for their unwavering loyalty and patronage.

Despite the fact that the promotion was halted in 2020 due to the Coronavirus (Covid-19) Pandemic and the resulting global lockdown, hundreds of Nigerians have benefited from this unique reward scheme in which lucky customers are credited with millions of naira and consolation prizes via a draw system.

The Chairman, Promo Committee, Fidelity Bank Plc, Mr. Richard Madiebo expressed his delight at the resumption of the savings promotion, stating that the campaign seeks to reward customers for their loyalty and patronage. According to Mr. Madiebo, for the past twelve years, the bank has empowered new and existing customers, providing an avenue for many to change their fortunes through its savings Promo.

He stated that the bank takes pride in keeping its promises, adding that the lender would continue to look out for innovative ways to satisfy and enrich its customers across the nation.

“And as we wind down on the 4th season of the GAIM promo, we are elated at the prospect of not only driving financial inclusion across Nigeria but also at the unique opportunity to enrich the lives of our customers especially in times of economic uncertainties”, noted Madiebo

Over the years, the leading tier two Bank has continued to intensify its efforts and innovate ways towards ensuring customer and stakeholder satisfaction. Through this promo, Fidelity Bank has promoted financial inclusion through digital channels and enriched the lives of its customers even in times of economic uncertainties.

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