Nigeria’s leading retail financial services institution, Access Bank Plc has introduced a Dual Transaction Service (DTS) – an enhanced debit card service that provides access to credit at the same time.
The Dual Transaction Service (DTS) is a bundled service designed to allow pre-approved customers access a credit line through their existing debit card.
“This is the first time any bank in Nigeria will be providing this kind of combined essential service to its customers. We have been encouraging our customers to stay safe and connected by going cashless while using our various digital channels. We know these are trying times and our customers may need an extra boost during this period so rather than have them go through the rigorous process of applying for a credit card, we will give them access to more funds using their existing debit cards.
“This service is available to all Access bank customers who earn from N20,000 and above. Customers can also access 3 times the value of their salary during this period of restricted movement. This is a remarkable feat and we will continue to promote digital transactions and discourage branch banking until we are completely come out of the pandemic times,” says Victor Etuokwu, Executive Director, Retail Banking, Access Bank Plc.
To activate this service, all our customers need to do is dial *901*14# from the comfort of their homes, choose credit as account type on any POS or ATM terminal during any transaction to access the credit line through their debit card.
“The dual card service from Access bank Plc is the first-of-its-kind on the continent. The features of the dual transaction service represent another milestone in our mission to transform banking and demonstrates how far we have come in such a short time,” he added.
Access Bank recently donated N1 billion as part of its contribution to fight coronavirus in Nigeria. The Bank has also reached out to its customers via several communications (SMS, Emails) to go cashless by using the Access Bank electronic and digital platforms during this period of the pandemic to remain safe.
To activate for the dual transaction service, simply dial *901*14# or click HERE to learn more.
RED | For Africa is redefining work culture on the continent
“At RED | For Africa, we have always embraced an increasingly progressive work culture in response to the extant global research on the subject matter.” – RED
As more and more global attention shifts towards investing in the physical and mental welfare of people, an increasing number of companies are moving towards a human-centered approach to policymaking and accepted work culture.
At RED | For Africa, we have always embraced an increasingly progressive work culture in response to the extant global research on the subject matter. We have over the years, practiced a remote work culture, granting team members weekly work-from-home days, periodic work-from-home weeks, and more. This is why we seamlessly adopted a complete work-from-home policy long before the government-mandated lock-down in March, making us one of the first companies in West Africa to do so.
Nonetheless, it has become necessary to cushion the likely effects of working from home during the COVID-19 pandemic. Also, considering the ease with which work can spill into personal time, and how a constant presence in one space can considerably deplete creativity, we decided to completely shut-down work on 21 March, 2020, allowing team members to recharge and come back fired up, and ready to better serve our clients.
Just recently, Google and Facebook announced that they have decided to extend their work-from-home till the end of the year. Twitter also announced that its employees could work-from-home “indefinitely”. This shows an increased leveraging of technology in order to make the way work is done better and more efficient for both the employer and employee.
A research in International Journal of Science shows that employee productivity, mental well-being and overall work-performance begin to suffer when there is no adequate break from work. It concluded that breaks albeit ignored for fear of losing productivity actually increase productivity, lessen fatigue, stress and boredom, and reduce job-related strain and accidents. Overworked employees often deal with chronic stress that can result in job burnout which will not only affect employee health and well-being but the company’s bottom line.
Amongst other innovative steps we are taking at RED, we’ve also opened a food bank for team members who require support in these times and created ‘The Huddle’, a weekly mental and emotional release and engagement channel for the team as we navigate the pandemic. This is the new normal and we are more than ready to adapt and make the most of it.
Above all, we have made a commitment as a company, to continually align our operations with emerging research backed by data. So whether it’s work-from-home, shutdown, or any other practice that will improve team performance and well-being, we’re always willing to adapt.
EDITOR’S NOTE: This is a sponsored content.
Develop Homegrown Solutions, Human Capacity and Invest in Agriculture to Rebuild Africa; Experts say at UBA Africa Day Conversations
•Prioritise SMEs Development
•Advocate Partnerships between Private Sector and Government
African thought leaders and great minds have noted that the development of homegrown solutions and adequate investment in human capacity building and agricultural expansion are key steps that will help to rebuild Africa and put the continent on a stronger footing post Covid-19.
Analysing the theme ‘Domestic Policies, Regional Development and a Global Agenda: SDGs and African Development at Crossroads; the speakers collectively gave this submission during the second panel session of the 2020 edition of United Bank for Africa (UBA) African Day Conversations.
The virtual session, which was moderated by Veteran Journalist and Media Consultant, Eugenia Abu, was made up of thought leaders from across Africa, including the Regional CEO, UBA West Africa, Abiola Bawuah (Ghana); Senior Program Coordinator, Regional Network of Agricultural Policy Research Institutes, Dr Nalishebo Meebelo (Zambia); Leadership Coach and Chairman, Go Ahead Africa Ltd, Roland Kwemain (Cameroon); Founder and Executive Director, Social Change Factory, Sobel Aziz Ngom (Senegal); Special Assistant to the President Muhammadu Buhari on Digital and New Media, Tolu Ogunlesi (Nigeria); and Social Entrepreneur and Founder, LEAP Africa, Ndidi Nwuneli (Nigeria).
Abiola Bauwah who emphasised how Africa should rely less on foreign donors, said, “There are five areas we should work on more for us to reach the SDG goals; the private sector; rapid industrialization; institutions and the rule of law; develop our human capital; remove the barriers across Africa. We should institute Africapitalism which is an economic philosophy that says that the human and capital resources of Africa are the only ways in which we can develop Africa.”
Nalishebo Meebelo noted that there’s a lot that young people can do along the value chain of manufacturing, transporting, technology and marketing, adding that, “Government cannot do it alone, they need to work with other stakeholders. Cut and paste solutions do not work for us here in Africa, we need to have our own homegrown solutions to fight this pandemic.”
Eugenia Abu, who focused on the huge role that women and youth must play in rebuilding the continent, said that Africa had to work together to provide solutions to its numerous challenges. “Women, entrepreneurial champions, young people and collaborations between African countries are very key to developing Africa,” she stated.
Ndidi Nwuneli who was saddened that the agricultural sector remained hugely untapped, emphasised the need for a change of mindset where people usually equated agriculture to poverty. “This is a $1 trillion industry and we are neglecting it; therefore my charge to you is that we invest in the agricultural sector, prioritize it, leverage it, transform our educational system to prepare our young people for this sector, change the mindset and trade with each other,” she explained.
Sobel Aziz Ngom pointed out the need for the youth to take charge in Africa. “It is time to not just serve young people, but to trust them to lead. The challenge that we have at the domestic and continental level is making the change in our structure and in the political system that give the place to young people to be 100% engaged,” Ngom stated.
In his own submission, Tolu Ogunlesi, said, “All over the countries young people are seizing opportunities, and we need to start thinking about how to make sure that this is not just for the age of COVID but for now and beyond COVID-19. Even if the pandemic was to disappear today, I hope that the lessons we’re learning, we’re not going to forget them and go back to where we used to be.”
For Roland Kwemain, more institutions need to tow the line of UBA in events such as UBA Africa Conversations. “If 100 multinationals in Africa were doing that UBA is doing, we would go far because CSR is an amazing leverage not just for the brand but also for supporting people & women in terms of activities. The truth is that we need partnership between the government, corporates and the civil society,” he said.
The United Bank for Africa is a leading pan-African financial institution offering banking services to more than twenty million customers globally. With footprint in 20 African countries and presence globally in the United Kingdom, the USA and France, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross border payments and remittances, trade finance and ancillary banking services.
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