The Western Union Company (NYSE:WU), a leader in global payment
services, its Foundation, and the United States Agency for
International Development (USAID) have extended the application
deadline for the African Diaspora Marketplace to February 15, 2012.
The ADM is an initiative that encourages sustainable economic
growth and employment by supporting U.S.-based diaspora
entrepreneurs with ideas for start-up and established businesses in
Africa. Western Union Agent and pan-African banking group Ecobank
Group also announces its intention to join the second African
Diaspora Marketplace (ADM).
The initiative will build on successes from the first African
Diaspora Marketplace held in 2010: focusing grants toward high
priority, high-impact sectors in Africa, including agribusiness,
renewable energy, and information and communication technology
(ICT). Ecobank Group also supported the first African Diaspora
Marketplace.
“We are delighted to bring Ecobank on board again for the second
ADM,” said Aida Diarra, Western Union regional vice president for
North, Central and West Africa. “Western Union and Ecobank have a
long-standing relationship in Africa and through this collaboration
we are helping to tap the economic potential of the 1.4 million
Africans living in the U.S. The ADM will strengthen and help
satisfy demand for locally-produced products and services by
leveraging diaspora capital and resources.”
“Ecobank is pleased to support this initiative as it offers an
opportunity for us to partner with others who are committed to the
economic development of Africa,” said Arnold Ekpe, Group CEO of
Ecobank Transnational Incorporated (ETI), parent company of the
Ecobank Group. “For us, the ADM complements Ecobank’s mission of
reaching out to the millions of Africans residing abroad and
encouraging them to invest in Africa’s future,” Ekpe added.
George Washington University’s Center for International Business
Education and Research (CIBER) will provide research expertise and
also evaluate the initial phase of business proposals.
Twenty-one countries qualify for consideration - proposals need
to be submitted by February 15, 2012. The deadline was extended
from February 3, 2012. Participating countries include Angola,
Benin, Botswana, Cote D’Ivoire, DRC, Ethiopia, Ghana, Kenya,
Liberia, Libya, Mali, Mozambique, Nigeria, Rwanda, Senegal, Sierra
Leone, South Africa, Tanzania, Tunisia, Uganda and Zambia. The
number of grants awarded will be determined based on grant pool and
program need, and is likely to be in the range of 15-30 businesses.
The anticipated matched grant size is expected to be approximately
US $50,000.00, with an additional supplement of US $25-50,000.00 in
technical assistance.
Information about the ADM and how to apply can be found at
www.diasporamarketplace.org.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global
payment services. Together with its Vigo, Orlandi Valuta, Pago
Facil and Western Union Business Solutions branded payment
services, Western Union provides consumers and businesses with
fast, reliable and convenient ways to send and receive money around
the world, to send payments and to purchase money orders. As of
September 30, 2011, the Western Union, Vigo and Orlandi Valuta
branded services were offered through a combined network of
approximately 485,000 Agent locations in 200 countries and
territories. In 2010, The Western Union Company completed 214
million consumer-to-consumer transactions worldwide, moving $76
billion of principal between consumers, and 405 million business
payments. For more information, visit www.westernunion.com.
About the Western Union Foundation
Through Western Union's Our World, Our Family(R) signature
program, the Western Union Foundation supports initiatives to
empower people through access to economic opportunity. Recognized
by the Committee Encouraging Corporate Philanthropy in 2009, the
program is a five-year, $50 million commitment reflecting efforts
made by Western Union employees, Agents and partners around the
world. Since 2001, the Western Union Foundation has awarded more
than $73.4 million in grants to more than 2010 nongovernmental
organizations (NGOs) in 104 countries and territories. To learn
more, visit http://foundation.westernunion.com.
About USAID
USAID is the lead U.S. government agency providing development
and humanitarian assistance to people around the world. USAID works
in 49 countries in sub-Saharan Africa to promote good governance
and democracy, broad-based economic growth, high quality health
care and education, and peaceful and secure communities. The
agency's Global Development Alliance (GDA) links U.S. foreign
assistance with the resources, expertise and creativity of the
private sector as well as nongovernmental organizations. Since its
launch in 2001, the Global Development Alliance has changed the way
U.S. international development projects are financed and
implemented. By cultivating more than 900 public-private alliances
with over 1,700 individual partners, it has allowed USAID to
leverage an additional $9.6 billion in resources for development.
For more information about USAID and its programs around the world,
visit www.usaid.gov. For more information on Global Development
Alliances, visit www.usaid.gov/gda/index.html.
About Ecobank Group
Incorporated in Lomé, Togo, Ecobank Transnational Incorporated
(ETI) is the parent company of the Ecobank Group, which is present
in more countries in Africa than any other bank in the world.
Ecobank currently operates in Benin, Burkina Faso, Burundi,
Cameroon, Cape Verde, Central African Republic, Chad, Congo
(Brazzaville), Congo (Democratic Republic), Côte d’Ivoire, Gabon,
Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Liberia, Malawi, Mali,
Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra
Leone, Tanzania, Togo, Uganda, Zambia and Zimbabwe. The Group also
has an affiliate in Paris and representative offices in Dubai,
Johannesburg, London and Luanda. ETI is listed on the stock
exchanges in Lagos, Accra and the West African Economic and
Monetary Union (UEMOA) – the BRVM. The Group has over 23 000
employees from 35 different countries in over 1,100 branches.
Ecobank is a full service bank providing wholesale, retail,
investment and transactional banking services to governments,
financial institutions, multinationals, local companies, SMEs and
individuals. For more information, please visit:
http://www.ecobank.com.
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