UMB headlines 3rd edition of ‘Ghana Centre of the World’ golf tournament

Universal Merchant Bank (UMB) has announced its headline sponsorship of the third edition of the “Ghana Centre of the world’ Golf Tournament, from August 26, to 28 at the newly christened ‘Centre of the World Golf Club’ in Tema (the erstwhile Tema Country Club).

The three-day golf tournament, organized by the Ghana Tourism Development Company (GTDC), under the auspices of the Ministry of Tourism, Arts and Culture, is a tournament open to all golfers across Ghana and West Africa.

This year’s tournament, dubbed the “Version 3.0” edition, is part of a larger initiative by the Ministry and its agencies (including the GTDC) to celebrate and establish the ‘Ghana as the center of the world’ brand.

The sponsorship was announced at a short ceremony here in Accra, at the UMB Headoffice.

GTDC was represented by the deputy chief executive Madam Akofa Dokosi, who was received by the UMB chief executive Nana Dwemoh Benneh.

Speaking at the announcement, the Chief Executive of UMB, Nana Dwemoh Benneh, noted that “God has truly blessed Ghana with many natural wonders, including the fact that we are the only country that is closest to the intersection of the equator and the Greenwich Meridian.

“This really places Ghana at the centre of the world. We are proud, as a leading Ghanaian Bank to once again support and partner the agile and forward-looking Ghana Tourism Development Company; in promoting tourism and the ‘Ghana Nation-Brand’ by leveraging this national asset.

“Thus, our full support for this exciting golf tournament, structured to celebrate this unique attribute.”

Nana Benneh further stated that ‘We see this initiative as a natural progression from the success chalked during the Year of Return, and in line with government’s espoused vision to make tourism a major contributor to our GPD!’

CEO of GTDC Kwadwo Odame Antwi said, “we are excited that a Ghanaian Bank, UMB, has seen the value in our strategy to grow the Ghana brand by leveraging attributes including our geographical location.

“Research indicates the power of sports marketing in promoting nation brands, and we aim to grow this golf initiative to promote Ghana as the desired destination in Africa.”

He further noted, ‘under the auspices of our visionary Minister, we are pursuing discussions with investors to develop the Centre of The World Golf Club into a top-notch facility, at par with what pertains in Dubai, South Africa and other major tourist destinations.’

The golf tournament is expected to attract over one hundred professional and amateur golfers from West Africa as well as captains of industries.

UMB introduces LockSaver Account tailored for Government workers

Universal Merchant Bank (UMB) has launched an innovative savings account, tailor-made for government workers. This was at a media event at the headoffice of the Bank, where the Controller and Accountant General of Ghana ,Mr. Kwasi Kwaning – Bosompem was the guest of honour.
The introduction of the account is the first time a Ghanaian bank is offering other products via the Controller and Accountant General’s industry-leading TPRS system. This system has so far been used by banks in Ghana to provide loans to government workers. The UMB savings account, marketed as the CONTROLLER LOCKSAVER ACCOUNT, allows government workers to secure a savings account which enables them save at their own pace and value. The account, boasts higher interest rates than the industry average and is touted as key to enabling government workers achieve a ‘save-to-invest’ loop.
Speaking on the new initiative, CEO of UMB, Nana Dwemoh Benneh, referred to a survey conducted by the Bank’s research team, which indicated a great desire for savings products amongst Ghanaians. ‘Overall, the Ghanaian worker understands the value of savings. The challenge has been creating a culture of consistent, untouched savings over a period, to achieve a goal. This product allows government workers to save towards this, using the same channel through which their loans and other credit facilities are managed. UMB is proud to be the first bank in Ghana to provide workers the ability to save as well as access affordable loans, thus adding value to financial well-being. This initiative is in line with our Bank’s focus on supporting public sector projects, as a proud indigenous Ghanaian Bank.’
In his remarks, the Controller and Accountant General, Mr. Kwasi Kwaning–Bosompem said “ It is a matter of pride for us that this innovation has been achieved on the back of our won innovation at the Department– the TPRS platform. TPRS is a testament to the governments agenda for digitalization and we are proud that a Ghanaian Bank, UMB has innovated with this platform to offer Savings products. I anticipate and are hopeful that other banks and insurance companies will take a cue from it and offer similar value to government workers. “Touching on the importance of Savings, the Controller further noted “Savings are key for the worker and the economy. This is why the Ministry of Finance and the Bank of Ghana has created sanitized environment in the financial services ecosystem and with interest rates. I urge all Ghanaians, especially workers to save some of their earnings every month, no matter how modest, as this over time will build up and cushion the worker at critical times.”
The event was attended by other senior officers of the Controller and Accountant General’s Department, UMB customers and representatives from key workers unions.