Monday, March 5, 2012

Nigeria Losing Crude Oil to Theft





Reese Witherspoon Launches New Avon Empowerment Necklace To End Violence Against Women



Reese Witherspoon Announces New Avon Empowerment Necklace to Raise Funds to End Violence Against Women in Recognition of International Women’s Day (Tweet this)


Avon Foundation for Women Honorary Chairman Reese Witherspoon wears the Avon Empowerment Necklace to raise funds to end domestic violence in honor of International Women’s Day. Avon Foundation for Women Honorary Chairman Reese Witherspoon wears the Avon Empowerment Necklace to raise funds to end domestic violence in honor of International Women’s Day.

New York, NY — March 5, 2012 /PRNewswire/ — Reese Witherspoon, Avon Global Ambassador & Honorary Chairman of the Avon Foundation for Women, today launches the new Empowerment “Circle of Support” Necklace in recognition of International Women’s Day on March 8th. The necklace is the latest Avon fund-raising product that raises life-saving funds for the Avon Speak Out Against Domestic Violence program, which has donated nearly $40 million to end the epidemic of violence against women globally.


Empowerment “Circle of Support Necklace”

One hundred percent of the net profits from the necklace’s sale will benefit Avon’s Speak Out Against Domestic Violence initiative. The silvertone necklace features the infinity symbol, which in Avon’s Speak Out campaign represents lives with unlimited potential when free from violence.

“It’s a shocking reality that one in three women worldwide will experience violence in their lives. It’s an unacceptable truth that we must all work to change,” said Reese Witherspoon, Avon Global Ambassador & Avon Foundation for Women Honorary Chairman. “In recognition of International Women’s Day, I’m proud to support the Avon Speak Out Against Domestic Violence program and I encourage everyone to purchase, wear or give the Avon Empowerment Necklace to help raise awareness as well as vital money for domestic abuse support services.”


About the 2012 Circle of Support Necklace:


Available for $5.00 (U.S.)
100 percent of profits from this product ($3.71) in the United States will be donated to the Avon Foundation for programs dedicated to ending violence against women
Receive a Domestic Violence Resource Guide FREE with purchase (U.S.)
Available through Avon Sales Representatives in 50 countries by visiting www.avon.com

Reese previewed the Empowerment Necklace on February 28 at the 2nd World Conference of Women’s Shelters in Washington, D.C., which convened more than 1,400 advocates, activists and leaders from 96 countries to collaborate to change attitudes about domestic and sexual violence.

For more information about Avon’s efforts to end violence against women around the world follow us on Twitter at #AvonSpeakout #IWD or at www.facebook.com/avonfoundation.

# # #

About the Avon Foundation for Women and Avon Global Philanthropy

Avon is a global corporate leader in philanthropy focused solely on causes that matter most to women. Through 2011, Avon global philanthropy, led by the U.S.-based Avon Foundation for Women, donated more than $860 million in more than 50 countries for causes most important to women. Today, Avon philanthropy focuses its funding on breast cancer research and access to care through the Avon Breast Cancer Crusade, and efforts to reduce domestic and gender violence through its Speak Out Against Domestic Violence program.

About Avon’s Speak Out Against Domestic Violence Program
Avon’s Speak Out Against Domestic Violence program launched in 2004 to support domestic violence awareness, education and prevention programs, as well as direct services for victims and their families. Globally, Avon supports efforts to end violence against women in over 50 countries by raising funds through special product sales and raising awareness through events and with educational information disseminated by 6.4 million global Avon Representatives.


Press Contacts:

Karyn Margolis
Avon Foundation for Women
212-282-5666
karyn.margolis@avonfoundation.org

Katie Cwayna
Kaplow
212-221-1713
kcwayna@kaplowpr.com



Top Ten Movies-On-Demand



Rentrak Announces Top Ten Movies-On-Demand Titles Week Ending February 26, 2012



PORTLAND, Ore., March 2, 2012 /PRNewswire/ -- Rentrak Corporation (NASDAQ: RENT) today announced the top ten movies-on-demand titles based on consumer transaction rate. Movies-on-demand are transactional (pay-per-purchase) films available through cable and telco providers.

1. Tower Heist*
2. J. Edgar*
3. The Twilight Saga: Breaking Dawn Part 1*
4. The Rum Diary*
5. The Help*
6. Moneyball*
7. In Time*
8. Drive*
9. Bridesmaids*
10. A Very Harold & Kumar Christmas*

According to the company's OnDemand Essentials service, the top ten most-viewed titles, per data collected from February 20, 2012 through February 26, 2012 include:

Source: Rentrak OnDemand Essentials, as dated, rank based on transaction rate. OnDemand Essentials includes reporting from operator partners on television-on-demand usage. *Indicates day-and-date with home video release.

© Rentrak Corporation 2012 -Content in this chart is produced and/or compiled by Rentrak Corporation and its OnDemand Essentials data collection and analytical service, and is covered by provisions of the Copyright Act. The material presented herein is intended to be available for public use. You may reproduce the content of the chart in any format or medium without first obtaining permission, subject to the following requirements: (1) the material must be reproduced accurately; and (2) any publication or issuance of any part of the material to others must acknowledge Rentrak Corporation as the source of the material.


About OnDemand Essentials®


OnDemand Essentials, a service of Rentrak's Advanced Media & Information Division, provides operators, content providers (including broadcast/cable networks, studios) and advertisers with a transactional tracking and reporting system to view and analyze on-demand content. The product is an extension of Rentrak's Essentials suite of business intelligence products customized for the entertainment industry. OnDemand Essentials clients have password protected, near real-time, Web browser-based 24/7 access to on-demand consumer usage data at various access levels based on business and privacy rules. A sophisticated toolset aggregates and reports data across multiple vendors in one easy to use report system. Clients using the OnDemand Essentials system are able to instantly analyze and interpret their own business data to identify trends, program and promote more effectively, as well as track their performance against the broader business sector in which they operate.

About Rentrak Corporation

Rentrak (NASDAQ: RENT) is a global digital media measurement and research company, serving the most recognizable companies in the entertainment industry. With a reach across numerous platforms including box office, multi-screen television, and home video, Rentrak has developed more efficient metrics to be used as alternative currencies for the evaluation and selling of media. Rentrak is headquartered in Portland, Oregon, with additional U.S. and international offices. For more information on Rentrak, please visit www.rentrak.com.

RENTT

Contacts:


Rogers & Cowan for Rentrak Corporation

Sallie Olmsted


Amanda Bialek

(310) 854-8124


(310) 854-8151

solmsted@rogersandcowan.com


abialek@rogersandcowan.com

Logo: (photos.prnewswire.com/prnh/20111007/MM82941LOGO)

SOURCE Rentrak Corporation

Web Site: http://www.rentrak.com



VConnect is the No. 1 and Largest Local Search Engine in Nigeria



VConnect is the No. 1 and Largest Local Search Engine in Nigeria

Can anything on the internet challenge Google, the number one search engine on the World Wide Web?

How can you compete with Google that has been estimated to run over one million servers in data centers around the world and processing over one billion search requests and about twenty-four petabytes of user-generated data every day?

But on the internet anything is possible!

And this is what is happening in Nigeria!

Till now; in Nigeria, millions of people online were dependent on Google to search for information. But how much of this information is relevant to millions of Nigerians? Say you search for Lagos; Google throws result of Lagos in Nigeria and Lagos in Portugal. Who cares about Portugal?



Nigerians want to find more relevant and local information rather than global information. And that's where VConnect comes into picture.
VConnect gives you more localized search results. And this has attracted millions of people in the most populous country in Africa, making the new search engine the number one and largest local search engine in Nigeria.


Within a year of launch, VConnect has ranked Top 5 Nigerian sites in Nigeria as per Alexa Ranking and it is the only portal which allows businesses to generate real prospects and increase customers.

VConnect cannot be compared with Google; as Google aggregates search results from various websites, whereas VConnect shows results for all businesses, products and services in Nigeria.

VConnect is not there to compete with Google globally, but locally.
VConnect provides optimized local search results, which are related to any product, service or business for a population of over 167 million people in Nigeria.


VConnect is also the first 24/7 tele-search service providing instant product, service, business information in Nigeria and over 300,000+ businesses have been listed and winning awards! In November 2011, VConnect won the Personalized Information Product Award of the Year from RIMA, an organization, which encourages the overall development of the information management industry in Nigeria.
Millions of Nigerians and others are connecting on VConnect where they can make the right connections for countless opportunities in Nigeria and beyond.



VConnect is poised to carry the mantle of change!
And Nigerians are proud of VConnect, the true Naija born search engine.


~ By Ekenyerengozi Michael Chima




Saturday, March 3, 2012

Who Says Google Plus is A Ghost Town Compared To Facebook?



Who says Google Plus is a Ghost Town compared to Facebook?

Any dummy can be on Facebook and the most annoying is the fact that Facebook is full of cloned profiles and pages of mostly retarded people and fan sites of personalities with fake friends approved simply to address their egos and insecurities. But Google Plus is for REAL PEOPLE with REAL PROFILES and REAL FRIENDS.



The real population of the users of Facebook is far less than the claims of over 500 million users, because majority of the users have up to four different Facebook accounts. And in fact, these clowns with clones of their profiles hop from one profile to another. I know users with multiple Facebook accounts with as many as ten profiles and creating multiple pages to boost their egos. So, all these millions of Facebook clones are included in the over half a billion users?

You can fool around on Facebook, but I doubt if anyone can fool around on Google Plus.
Comparing Facebook to Google Plus is like comparing Wall Street to Times Square.
It is only a ghost town to the ignorant multitudes who think it is another Facebook.


~ By Orikinla Osinachi



Friday, March 2, 2012

Be The Next BLACK OPAL True Beauty!


Brookell Barber, BLACK OPAL 2011 True Beauty Model Search Grand Prize Winner. (PRNewsFoto/BLACK OPAL Cosmetics)

2 Mar 2012 15:00 Africa/Lagos

Be The Next BLACK OPAL True Beauty!
THE SEARCH IS ON FOR THE NEW FACE OF BLACK OPAL -- IT COULD BE YOU!

NEW YORK, March 2, 2012 /PRNewswire/ -- The search is on for the NEW face of BLACK OPAL Cosmetics! The leading beauty authority for women of color, announces its 2012 BLACK OPAL True Beauty Model Search. The national contest kicks-off on March 1st and online entry will run through April 2nd 2012. One grand prize winner will be awarded a $10,000 educational scholarship and become the new face of the brand.

(Logo: http://photos.prnewswire.com/prnh/20120302/NY63214LOGO-a )

(Photo: http://photos.prnewswire.com/prnh/20120302/NY63214-b )

The BLACK OPAL True Beauty Model Search is a distinctive and dynamic beauty contest. BLACK OPAL believes that TRUE BEAUTY is more than skin deep and is searching for applicants that are striving for education advancement, committed to bettering their community and are naturally beautiful, both inside and out. Applicants will be evaluated based on essays, community service involvement, educational aspiration and a photo which represents TRUE BEAUTY.

A panel of judges from the beauty and entertainment worlds will include singer/songwriter and VH1's Love & Hip Hop cast member and R&B singer Olivia; Celebrity Make-up artist Frank Guyton; International Model and philanthropist Noella Coursaris; Celebrity Hairstylist Eric Bland; Editor-in-Chief-Juicy Magazine Paula Renfroe and Celebrity Fashion Stylist Andre Austin.

"We are geared up and excited about this year's model search," said Maya Brown , Sr. Marketing Director of Biocosmetic Research Labs. "Last year's winner Brookell Barber, reflected the essence of the brand, revealing beauty inside and out. The judges and I are anxiously looking forward to finding true beauty again, in the next face of BLACK OPAL."

One grand prize winner will receive a $10,000 scholarship (payable directly to the school), an all-expense paid trip to New York for a fabulous photo shoot, and the opportunity to be featured in BLACK OPAL's 2013 marketing materials. In addition to the grand prize winner, 10 finalists will be awarded $2,000 scholarships (payable directly to the school) as well as a chance to be featured in BLACK OPAL promotional materials. All winners will also receive complimentary BLACK OPAL skincare and cosmetics products.

True Beauty hopefuls can enter to win the national contest by visiting www.BlackOpalbeauty.com/truebeautymodelsearch or via Facebook at Black Opal Beauty. Entrants must complete an entry form, upload up to three recent photos of themselves (taken within 3-months) and write a short essay. No purchase necessary. For complete rules, please visit www.blackopalbeauty.com.


About BLACK OPAL


BLACK OPAL offers limitless possibilities in cosmetics and skincare to enhance the diverse beauty and address the unique needs of skin of color. With this targeted focus, BLACK OPAL has solidified its position as the most trusted beauty brand for women of color. BLACK OPAL is a global brand available in 30 countries worldwide.

BLACK OPAL products are available by visiting www.blackopalbeauty.com, Walmart, CVS/Pharmacy, Rite Aid, Duane Reade, and OTC Stores nationwide.

SOURCE BLACK OPAL Cosmetics

CONTACT: Michelle Pascal, mpascal@bratskeir.com , or Nicole Newsum, nnewsum@bratskeir.com, both of Bratskeir & Company, +1-212-679-2233

Web Site: http://www.blackopalbeauty.com



Jesus Would Have Shared Coffee with the Girl with the Dragon Tattoo



2 Mar 2012 14:10 Africa/Lagos

Jesus Would Have Shared Coffee with the Girl with the Dragon Tattoo, Says Author of New Book, Woman Meets Jesus

GRAND RAPIDS, Mich., March 2, 2012 /PRNewswire/ -- "Lisbeth Salander, the troubled female in the Oscar-winning film The Girl with the Dragon Tattoo, is exactly the kind of woman that Jesus would invite for coffee," says Ruth Vander Zee, author of the new book Woman Meets Jesus (Edenridge Press). "Salander," says Vander Zee, "may not fit in at most churches but is the type of exploited woman that Jesus would befriend in the face of social and religious criticism."

Salander, played by Rooney Mara, is a gifted, but deeply troubled young woman with bleached eyebrows, a black Mohawk, tattoos, leather-and-chain dress, combat boots, and atypical body piercings.

"Jesus was a radical rabbi who reached out to females who didn't fit in with the religious and social communities," says Vander Zee. "He didn't care what the religious elites - the Sadducees and Pharisees - thought about women."

Vander Zee, who spent years studying Jesus' often-overlooked interactions with women, concludes in her new book that Jesus challenged the religious establishment's oppressive view of women and befriended and advocated for females like Salander. "Jesus stood up for exploited, rejected, isolated, desperate, and self-destructive women," says Vander Zee.

Vander Zee grew up in the church, learned the popular Bible stories, and eventually married a pastor. But later she chose to look at the second-class status women often occupied within the walls of the church. She decided to dig deeper into Jesus' personal encounters with women. What she discovered changed her view of women and Jesus.

In order to show how radical Jesus really was, Vander Zee retells the stories of Jesus' encounters with biblical women from their own, first-person perspectives. One woman is the prostitute who visited Jesus at Simon the leper's house and offended the respected guests by lavishing perfume upon Jesus. Another is the ostracized woman at the well who had multiple husbands. Yet another is the untouchable woman who hemorrhaged for 12 years.

"The whole idea that Jesus was anti-women is a modern myth," says Vander Zee. "I can imagine Jesus sitting in a Stockholm cafe with Salander, tearfully listening to her life story and encouraging her to follow the way of the prophet Micah to act justly, to love mercy, and to walk humbly with her new-found advocate, Jesus."

Ruth Vander Zee is the award-winning author of social-issue-oriented children's books, including Erika's Story, Mississippi Morning, Eli Remembers, and Always With You. A self-described late bloomer, she earned her college degree when she was 40, wrote her first book when she was 55, speaks to church and women's groups across North America, and writes the popular blog journey-of-faith.com. She lives in Miami, Florida.

For more information about Ruth and Woman Meets Jesus: How Jesus Encourages, Empowers, and Equips Women on Their Personal Journey of Faith (ISBN: 9780982706350; $14), please visit http://www.journey-of-faith.com.

MEDIA CONTACT:

Ruth Vander Zee
ruthvanderzee@gmail.com
786-374-7606

PUBLISHER:

service@edenridgepress.com
FAX: (616) 365-5797

This press release was issued through eReleases(R). For more information, visit eReleases Press Release Distribution at http://www.ereleases.com.

SOURCE Ruth Vander Zee

Web Site: http://www.journey-of-faith.com





Kadre Desire Ouedraogo Is New President of the ECOWAS Commission


New ECOWAS President Ambassador Kadre Desire Ouedraogo. © Getty Images.

1 Mar 2012 14:38 Africa/Lagos

New ECOWAS President assumes office

ABUJA, March 1, 2012/African Press Organization (APO)/ -- The new President of the ECOWAS Commission, His Excellency Kadre Desire Ouedraogo assumed office on Thursday, 1st March 2012 with a pledge to contribute toward the attainment of the dreams of the Organization's founding fathers by making West Africa a leading power for the realization of Africa's unity.


“Let us work together against poverty, injustice and bad governance,” he affirmed, during a brief ceremony to introduce him to staff at the Commission's Abuja Headquarters. “Let us work hard to build a community which all of us shall be proud of.”


President Ouedraogo urged West African youths in particular, to share his “enthusiasm and hope for the future of ECOWAS and indeed, the brilliant future of Africa,” stressing that “ECOWAS must be a land of peace, unity and progress.”


He paid glowing tributes to the founding fathers of ECOWAS and those who sometimes sacrificed their lives to build the Community over the past 37 years of its existence.


Specifically, President Ouedraogo expressed his profound gratitude to the government and people of Nigeria, and President Goodluck Jonathan, the immediate past Chairman of the ECOWAS Authority of Heads of State and Government, for the warm welcome and support extended to him.


He also commended the outgoing President of the Commission, His Excellency James Victor Gbeho and his predecessor, Dr. Mohamed Ibn Chambas, for the “wonderful job they have done for ECOWAS and its institutions.”


President Ouedraogo, a former Prime Minister of Burkina Faso, who served as Deputy Executive Secretary of ECOWAS between 1985 and 1993, equally commended ECOWAS leaders for the confidence reposed in him and pledged to do his best.


He called for the total cooperation of the Commission's new team including Vice-President Dr Toga Mcintosh, the Commissioners who assumed duties recently and the entire staff, to enable the organization deliver on its mandate and objectives.


In his remarks, President Gbeho said the assumption of duty by the new management team marked a new stage in the life of ECOWAS.


He welcomed his successor and urged the Commission's staff to extend to the new management team the same level of cooperation or even more than he and his team enjoyed.


ECOWAS has since its founding in 1975 through the Treaty of Lagos, undergone some major restructuring including its transformation in 2007 from an Executive Secretariat to a Commission with a President, Vice-President and seven pioneer Commissioners.


Until his new appointment, President Ouedraogo was his country's Ambassador and Plenipotentiary to the Kingdom of Belgium, The Kingdom of the Netherlands, the United Kingdom Northern Ireland as well as the country's Permanent Representative to the European Union, the Organization for the prohibition of Chemical Weapons, and the World.

Customs Organization.


He was a Deputy Governor of the Central Bank of West Africa States (BCEAO) in Dakar, Senegal between 1993 and 1996, and elected a Member of Parliament in 1997.


In 1996, he received the award of Grand Officer in the National Order of Burkina Faso.


Source: Economic Community Of West African States (ECOWAS)


1 Mar 2012 12:06 Africa/Lagos


Report by the Economist Intelligence Unit Gives High Level Picture of the Continent's Healthcare Challenges

BEERSE, Belgium, March 1, 2012/PRNewswire/ --



"The Future Of Healthcare In Africa"

By 2022 reformed healthcare systems in African countries could succeed in making quality care available to a majority of their citizens, given the political will to meet healthcare spending targets. This is one of the conclusions in a new report by the Economist Intelligence Unit (EIU), commissioned by Janssen Pharmaceutica NV and called "The Future Of Healthcare In Africa".

The report focuses on five possible future scenarios for African healthcare systems over the next ten years. Thirty four leading healthcare experts, representing the entire chain of stakeholders across the sector, helped the EIU's expert analysts identify the key trends shaping African healthcare systems and these were then used to develop scenarios that depict the possible health landscape on the continent in 2022 (see Press Release by The Economist for more information).

Jane Griffiths, Company Group Chairman of Janssen in EMEA, explains : "The study draws a very high level picture, combining statistics with trends and possible scenarios that could form the basis for further discussions on which policy options to take. We did the same thing last year with "The Future Of Healthcare In Europe". Solutions can only become clearer by having open and constructive discussions with all parties involved, based on factual analyses".

Janssen is active in Africa in many ways. Apart from selling its products across the region via its offices in Algeria, Egypt and South Africa, and working with distributors elsewhere, the company has also set up a number of projects specifically designed for infectious and neglected diseases, including research for a new tuberculosis treatment in collaboration with the TB Alliance, a microbicide targeting HIV, with the International Partnership for Microbicides, a new research programme against elephantiasis and river blindness with the Drugs for Neglected Diseases initiative (DNDi) and the Gates Foundation, as well as against sleeping sickness, Chagas and visceral leishmaniasis.

For the products that are already approved, Janssen sets up access programmes, such as the recently concluded agreements with generic manufacturers in Africa to manufacture and distribute the company's HIV/AIDS compounds, or the free distribution of treatments against intestinal infections with the Children Without Worms programme (More information is to be found in the attached backgrounder).

Commenting on the various scenarios presented in the report, Jane Griffiths continues "Broad and systematic access to healthcare can only be achieved when the proper healthcare insurance systems are in place, both public and private. This requires an investment by the authorities, but it is one that will offer immediate and sustainable returns to every country's economy, through decreased mortality, continued education, better stability in the income of households. It is encouraging to see the results that countries such as Ghana, Burkina Faso, Kenya, Burundi, Tunisia and Ethiopia have achieved in the past years. We tend to focus too much on what doesn't work in Africa, but we can learn only from the good examples".

With regard to medicines, specific initiatives can be taken which could benefit the region : "Regulatory harmonisation for the approval of medicines should be high on the agenda in Africa, " says Jane Griffiths. "Some of our HIV medicines have delayed market access because of different requirements across the region. Counterfeiting is also a scourge, and we have started with a pilot project with the Nigerian authorities to check how patients can verify the product's authenticity through text messaging. Technology options could mean a lot in the continent".

About the report

The report "The Future Of Healthcare In Africa" can be downloaded as a free pdf document from: http://www.janssen-emea.com/future-of-healthcare-africa

The report "The Future Of Healthcare In Europe" can be downloaded as a free pdf document from: http://www.janssen-emea.com/future-of-healthcare-europe

About Janssen

The Janssen Pharmaceutical Companies of Johnson & Johnson are dedicated to addressing and solving the most important unmet medical needs of our time, including oncology, immunology, neuroscience, infectious disease, and cardiovascular and metabolic diseases.

Driven by our commitment to patients, we develop innovative products, services and healthcare solutions to help people throughout the world.

More information can be found at http://www.janssen-emea.com

Source: Janssen

For further information: Stefan Gijssels, Vice President, Communications & Public Affairs : +32-473-710-425 or sgijssel@its.jnj.com

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Happy Birthday Pastor Enoch Adeboye!



Happy Birthday Man of God
(On the 70th birthday of Pastor Enoch Adejare Adeboye, the General Overseer of the Redeemed Christian Church of God.)


Happy Birthday Man of God
Thank you for sharing the Word
The Word that overcomes the world
The Word that has been from the beginning of Time
The Word that overcomes the scourges of crime and shame
The Word that shines even in the darkest nights on earth
The Word that is the eternal spirit of truth
The Word that is the vehicle of our faith
The Word that is the pillar of our strength
The Word that is fountain of our health and wealth
The Word that can shake every kingdom and topple every throne
The Word that can humble the king and queen
The Word that does not fear The Crown or The Wig and Gown
The Word that has lifted you up and will never let you down
The Word that has made you the talk of the town
The Word that will continue to bless you with happiness
The Word that will continue to bless you with success
The Word that will continue to make you shine brighter and brighter all the way.
The Word that will continue to bring us the Good News of many happy returns of today
The Word that will never pass away come what may and no matter whatever people say.
So with many thanks to our Almighty Father JEHOVAH God, I wish you happy birthday.


~ By Ekenyerengozi Michael Chima








Thursday, March 1, 2012

CGAP, Grameen Foundation, and MTN to Invest in Mobile Money Products for the Unbanked


Photo Credit: Grameen Foundation.

1 Mar 2012 14:30 Africa/Lagos

CGAP, Grameen Foundation, and MTN to Invest in Mobile Money Products for the Unbanked

Grameen Foundation's AppLab will work with consumers and financial institutions on products appropriate for people living on less than $2.50/day

BARCELONA, Spain and WASHINGTON, March 1, 2012 /PRNewswire-USNewswire/ -- Today at the Mobile World Congress 2012 in Barcelona, CGAP, Grameen Foundation, and MTN Uganda announced plans to introduce a new initiative to research and develop mobile financial products for the poor. CGAP, an independent policy and research center dedicated to advancing financial access for the world's poor, together with MTN and Grameen Foundation will provide US$1 million in financing to this initiative. The aim is to build upon the extensive research already conducted through Grameen Foundation's Application Laboratory (AppLab) in Uganda and to leverage MTN's successful Mobile Money service.

(Logo: http://photos.prnewswire.com/prnh/20091026/GFLOGO)

Access to financial services can help the poor smooth their income and invest in productive assets, education and health services. However, 2.7 billion people – most of whom live in developing countries – still do not have a bank account. This gap is due to two major challenges: Many low-income communities are underserved by financial institutions, and the products offered by these institutions are more suitable for higher-income clientele. The growth of mobile money is helping address the access issue, but there is still a need for product offerings that are appropriate for low-income consumers.

The goal of the initiative is to drive the next wave of innovation in the mobile money space by researching and developing products that are both appropriate for poor clients and commercially viable for the financial service providers involved.

"To achieve our goal of financial inclusion for all, the industry needs to move beyond mobile payments and provide a full array of pro-poor mobile financial products," said Tilman Ehrbeck, CEO of CGAP.

"This collaboration with CGAP and MTN Uganda will enable us to lead the next wave of product innovation to truly serve poor people's needs – a goal that is at the very core of Grameen Foundation," said Alex Counts, president and CEO of Grameen Foundation.

"MTN is committed to being innovative and relevant to its customers, particularly in this increasingly competitive global market. This partnership will ensure that we are able to address the needs of our customers in the rural market by enabling them to access otherwise inaccessible financial services. This in turn will ensure that the rural poor have better access to other social services, such as education, health and investment opportunities," said Themba Khumalo, CEO MTN Uganda.

About CGAP
CGAP is an independent policy and research center dedicated to advancing financial access for the world's poor. It is supported by more than 30 development agencies and private foundations that share a common mission to alleviate poverty. Housed at the World Bank, CGAP provides market intelligence, promotes standards, develops innovative solutions and offers advisory services to governments, microfinance providers, donors and investors. The Technology Program at CGAP is co-funded by the Bill & Melinda Gates Foundation, CGAP, and the UK Department for International Development (DFID). More at www.cgap.org/technology .

About Grameen Foundation
Grameen Foundation, a global nonprofit organization, helps the world's poorest people – especially women – lift themselves out of poverty by providing access to small loans and other financial services, life-changing information and unique business opportunities. Founded in 1997, Grameen Foundation has offices in Washington, DC; Seattle, WA; Colombia; Ghana; Hong Kong; the Philippines; and Uganda. Microfinance pioneer Prof. Muhammad Yunus, founder of Grameen Bank and winner of the 2006 Nobel Peace Prize, is a founding member of its Board of Directors, and now serves as director emeritus. For more information, please visit grameenfoundation.org.

About MTN GROUP
Launched in 1994, the MTN Group is a multinational telecommunications group operating in 21 countries in Africa, Asia and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code "MTN." MTN has more than 100 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Cote d'Ivoire, Cyprus, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo Brazzaville), Rwanda, South Africa, Sudan, Swaziland, Syria, Uganda, Yemen and Zambia. For more information, please visit www.mtn.com .

Contacts:
Jeanette Thomas
jthomas1@cgap.org
1.202.744.4829

Liselle Yorke,
lyorke@grameenfoundation.org
1.202.628.3560 x128

Justina Ntabgoba
ntabgoj@mtn.co.ug
+256 772 121 064

SOURCE Grameen Foundation

Web Site: http://www.grameenfoundation.org


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1 Mar 2012
14:30 CGAP, Grameen Foundation, and MTN to Invest in Mobile Money Products for the Unbanked CGAP, Grameen Foundation, and MTN to Invest in Mobile Money Products for the Unbanked
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