The amount would be given to the ultimate winner of the Jubilee Innovation Challenge, which was launched by the Minister of Information, Mr Mustapha Abdul-Hamid.

The Jubilee Innovation Challenge is a competition for 18 to 35 year olds and its objective is to challenge Ghanaian youth to develop apps that could be used effectively in areas such as health, science, education, transportation, land management, poverty alleviation and industry.

The competition would be held from the 22nd February, 2017 to 19th May, 2017 with an awards ceremony on 19th July, 2017 to reward the winners.

Speaking at the launch, the Minister of Information, Mustapha Abdul-Hamid, stated that engaging the creativity of young people as part of the Ghana: 60 Years on Celebrations, is absolutely essential since the youth have a critical role to play in shaping the future of Ghana.

He also applauded the organisers of the competition and lauded UMB for its visionary support of youth innovation in Ghana.  On his part, the Chief Executive Officer of UMB, Mr John Awuah, said “UMB is proud to be associated with a competition that provides a platform for Ghanaian youth to demonstrate to the world how innovative they could be.

The competition brings together two of the critical ingredients needed to develop this country –youth and innovation. “That is why we did not hesitate to partner with the committee to reward the deserving winner of the Jubilee Innovation Challenge.

“I am looking forward to the gems of innovation that are going to spring forth through this competition,” Mr Awuah added. The Coordinator of the competition, Abyna Ansaa Adjei, encouraged the youth to actively participate in the competition to show the world what the youth in Ghana can do.

UMB is a full-service financial institution specialising in customised banking products and services. 

It opened on March 15, 1972 and is a leading Ghanaian indigenous bank with considerable financial expertise.  UMB is recognised for its entrepreneurial approach, innovative use of technology, and distinctive banking solutions. 

It currently has 31 branches, one UMB Centre for Businesses and a vast network of ATMs.