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Emirates Group posted a profit of US$ 456 million for the financial year ending March 31

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The Emirates Group today announced its 32nd consecutive year of profit, against a drop in revenue mainly attributed to reduced operations during the planned DXB runway closure in the first quarter, and the impact of flight and travel restrictions due to the COVID-19 pandemic in the fourth quarter.

Released today in its 2019-20 Annual Report, the Emirates Group posted a profit of AED 1.7 billion (US$ 456 million) for the financial year ended 31 March 2020, down 28% from last year. The Group’s revenue reached AED 104.0 billion (US$ 28.3 billion), a decline of 5% over last year’s results. The Group’s cash balance was AED 25.6 billion (US$ 7.0 billion), up 15% from last year mainly due to a strong business performance up to February 2020 and lower fuel cost compared to previous year.

Due to the unprecedented business environment from the ongoing pandemic, and to protect the Group’s liquidity position, the Group has not declared a dividend for this financial year after last year’s dividend of AED 500 million (US$ 136 million) to the Investment Corporation of Dubai.

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, said: “For the first 11 months of 2019-20, Emirates and dnata were performing strongly, and we were on track to deliver against our business targets. However, from mid-February things changed rapidly as the COVID-19 pandemic swept across the world, causing a sudden and tremendous drop in demand for international air travel as countries closed their borders and imposed stringent travel restrictions.

“Even without a pandemic, our industry has always been vulnerable to a multitude of external factors. In 2019-20, the further strengthening of the US dollar against major currencies eroded our profits to the tune of AED 1.0 billion, global airfreight demand remained soft for most of the year, and competition intensified in our key markets.

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“Despite the challenges, Emirates and dnata delivered our 32nd consecutive year of profit, due to healthy demand for our award winning products and services, particularly in the second and third quarters of the year, combined with lower average fuel prices over the year.

“Every year we are tested on our agility and ability. While tackling the immediate challenges and taking advantage of opportunities that come our way, our decisions have always been guided by our long-term goal to build a profitable, sustainable, and responsible business based in Dubai.”

In 2019-20, the Group collectively invested AED 11.7 billion (US$ 3.2 billion) in new aircraft and equipment, the acquisition of companies, modern facilities, the latest technologies, and employee initiatives, a decrease following last year’s record investment spend of AED 14.6 billion (US$ 3.9 billion). It also continued to invest resources towards supporting communities, environmental initiatives, as well as incubator programmes that nurture talent and innovation to support future industry growth.

At the 2019 Dubai Air Show in November, Emirates placed a US$ 16 billion order for 50 A350 XWBs, and a US$ 8.8 billion order for 30 Boeing 787 Dreamliner aircraft. With first deliveries expected in 2023, these new aircraft will add to Emirates’ current fleet mix, and provide deployment flexibility within its long-haul hub model. In line with Emirates’ long-standing strategy to operate a modern and efficient fleet, these new aircraft will also keep its fleet age well below the industry average.

dnata’s key investments during the year included: the significant expansion of catering capabilities in North America with the opening of new operations in Vancouver, Houston, Boston, Los Angeles and San Francisco. dnata also completed the purchase of the remaining stake in Alpha LSG, to become sole shareholder of the UK’s biggest inflight catering, on-board retail and logistics company.

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Across its more than 120 subsidiaries, the Group’s total workforce remained nearly unchanged with 105,730 employees, representing over 160 different nationalities.

Sheikh Ahmed said: “In 2019-20, we were steadfast with our cost discipline while investing to expand our business and revenues opportunities. Through ongoing reviews of our work structures and the implementation of new technology systems, we’ve improved productivity and retarded manpower cost increases. As the pandemic hit, we’ve taken all possible measures to protect our skilled workforce, and ensure the health and safety of our people and our customers. This will remain our top priority as we navigate a gradual return to operations in the coming months.”

He concluded: “The COVID-19 pandemic will have a huge impact on our 2020-21 performance, with Emirates’ passenger operations temporarily suspended since 25 March, and dnata’s businesses similarly affected by the drying up of flight traffic and travel demand all around the world. We continue to take aggressive cost management measures, and other necessary steps to safeguard our business, while planning for business resumption. We expect it will take 18 months at least, before travel demand returns to a semblance of normality. In the meantime, we are actively engaging with regulators and relevant stakeholders, as they work to define standards to ensure the health and safety of travellers and operators in a post-pandemic world. Emirates and dnata stand to reactivate our operations to serve our customers, as soon as circumstances allow.”

Emirates performance

Emirates’ total passenger and cargo capacity declined by 8% to 58.6 billion ATKMs at the end of 2019-20, due to the DXB runway closure capacity restrictions and COVID-19 impact with a complete suspension of passenger services as directed by the UAE government during March 2020.

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Emirates received six new aircraft during the financial year, all A380s. During 2019-20, Emirates phased out six older aircraft comprising of four Boeing 777-300ERs, its last 777-300 and one Boeing 777 freighter leaving its total fleet count unchanged at 270 at the end of March. Emirates’ average fleet age remains at a youthful 6.8 years.

It reinforces Emirates’ strategy to operate a young and modern fleet, and live up to its “Fly Better” brand promise as modern aircraft are better for the environment, better for operations, and better for customers.

During the year, Emirates launched three new passenger routes: Porto (Portugal), Mexico City (Mexico) and Bangkok-Phnom Penh. It also supplemented its organic network growth with a new codeshare agreement signed with Spicejet that will provide Emirates customers with more connectivity options in India.

Additionally, Emirates expanded its global connectivity and customer proposition through interline agreements with: Vueling, adding connections to over 100 destinations around Europe via Barcelona, Madrid, Rome and Milan; with Turkish low-cost airline Pegasus Airline (PC), offering customers connections onto selected routes on PC’s network; and with Interjet Airlines, opening new routes for passengers travelling between Mexico, the Gulf and Middle East and beyond.

Emirates also marked two years of successful strategic partnership with flydubai. Over 5.3 million passengers have benefitted from seamless connectivity on the Emirates and flydubai network since both Dubai-based airlines began their partnership in October 2017.

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While Emirates recorded a very strong revenue performance during its 2nd and 3rd quarters of 2019-20, the DXB runway closure and COVID-19 crisis in the other quarters impacted its total revenue for the financial year with a decline of 6% to AED 92.0 billion (US$ 25.1 billion). The relative strengthening of the US dollar against currencies in many of Emirates’ key markets had an AED 963 million (US$ 262 million) negative impact to the airline’s bottom line, a substantial increase compared to the previous year’s negative currency impact of AED 572 million (US$ 156 million).

Total operating costs decreased by 10% over the 2018-19 financial year. The average price of jet fuel declined by 9% during the financial year after last year’s 22% increase. Including a 6% lower uplift in line with capacity reduction, the airline’s fuel bill declined substantially by 15% over last year to AED 26.3 billion (US$ 7.2 billion) and accounted for 31% of operating costs, compared to 32% in 2018-19. Fuel remained the biggest cost component for the airline.

Despite continued strong competitive pressure and the unfavourable currency impact, the airline reported a profit of AED 1.1 billion (US$ 288 million), an increase of 21% over last year’s results, and a profit margin of 1.1%. Profit would have been higher without a loss of AED 1.1 billion (US$ 299 million) due to fuel hedge ineffectiveness at year end.

Overall passenger traffic declined, as Emirates carried 56.2 million passengers (down 4%). With seat capacity down by 6%, the airline achieved a Passenger Seat Factor of 78.5%. The positive development in passenger seat factor compared to last year’s 76.8%, reflects the airline’s successful capacity management and positive travel demand across nearly all markets up until the outbreak of COVID-19 in the last quarter.

An increase in market fares and a favourable route mix was completely offset by the strengthening of the US dollar against most currencies and left the passenger yield unchanged at 26.2 fils (7.1 US cents) per Revenue Passenger Kilometre (RPKM).

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During the year, Emirates raised a total of AED 9.3 billion (US$ 2.5 billion) in aircraft financing, funded through term loans.

Emirates secured Bpifrance (French Sovereign Export Credit Agency) Assurance Export backed financing that also combined a commercial loan tranche sourced from Korean investors for all six aircraft delivered in 2019-20.

As part of an initiative to reduce costs and benefit from the prevailing global rates environment, Emirates refinanced and repriced more than AED 5.5 billion (US$ 1.5 billion) in 2019-20, resulting in estimated overall future cost savings in excess of AED 110 million (US$ 30 million).

Emirates’ management have taken several measures to protect the Group’s cash flow through cost saving measures, reductions to discretionary capital expenditure, and engaging with our business partners in improving working capital. Additionally, we have partially drawn existing credit lines before 31 March, and are in the process of securing additional lines to further improve the liquidity buffer. In the last quarter of 2019-20, Emirates successfully raised additional liquidity through term loans, revolving credit and short term trade facilities to the tune of AED 4.4 billion (US$ 1.2 billion). It will continue to tap the bank market for further liquidity in the first quarter of 2020-21 to provide a cushion against the impact of COVID-19 on the cash flows in the short term.

Emirates closed the financial year with a healthy level of AED 20.2 billion (US$ 5.5 billion) of cash assets.

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Revenue generated from across Emirates’ six regions continues to be well balanced, with no region contributing more than 30% of overall revenues. Europe was the highest revenue contributing region with AED 26.1 billion (US$ 7.1 billion), down 8% from 2018-19. East Asia and Australasia follows closely with AED 24.1 billion (US$ 6.6 billion), down 9%. The Americas region recorded revenue growth at AED 14.6 billion (US$ 4.0 billion), up 1%. West Asia and Indian Ocean revenue increased by 4% to AED 9.8 billion (US$ 2.7 billion). Africa revenue decreased by 4% to AED 8.7 billion (US$ 2.4 billion), whereas Gulf and Middle East revenue decreased by 8% to AED 7.7 billion (US$ 2.1 billion).

Through the year, Emirates introduced product and service improvements on board, on the ground, and online. Highlights include: the launch of Emirates’ first remote check-in terminal at Dubai’s Port Rashid to provide smooth sea-air connections for cruise travellers; the launch of EmiratesRED, our revamped inflight retail offering; and innovative enhancements to the Emirates app as customers increasingly choose to interact with us via their mobile devices.

For frequent flyers, Emirates launched Skywards Exclusives which offers access to the airline’s unique, money-can’t-buy sponsorship experiences; and Skywards Everyday, a location based app that enables members to earn Skywards Miles at more than 1,000 retail, entertainment and dining outlets across the UAE.

Emirates SkyCargo continued to deliver a solid performance in a highly competitive market, contributing to 13% of the airline’s total transport revenue.

With the lingering weakness in air freight demand over most of the year, Emirates’ cargo division reported a revenue of AED 11.2 billion (US$ 3.1 billion), a decrease of 14% over last year.

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Freight yield per Freight Tonne Kilometre (FTKM), after two consecutive years of growth, declined by 2%, largely impacted by the reduction in fuel price, and a strong US dollar.

Tonnage carried decreased by 10% to reach 2.4 million tonnes, due to the capacity reduction with the retirement of one Boeing 777 freighter and reduced available bellyhold capacity in the first and last quarters of the year. At the end of 2019-20, Emirates’ SkyCargo’s total freighter fleet stood at 11 Boeing 777Fs.

Emirates SkyCargo continued to develop innovative, bespoke products. In October, it launched Emirates Delivers, an e-commerce platform that helps individual customers and small businesses consolidate online purchases in the US and have them delivered in the UAE. More origin and destination markets are being planned in the future, leveraging Dubai as a hub for regional e-commerce fulfilment. During the year, Emirates Skycargo also strengthened its pharma capabilities with the opening of new facilities in Chicago and Copenhagen.

Emirates’ hotels portfolio recorded revenue of AED 584 million (US$ 159 million), a decline of 13% over last year with competition further on the rise in the UAE market impacting average room rates and occupancy levels.

dnata performance

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For 2019-20, dnata recorded a sharp profit decline (57%) to AED 618 million (US$ 168 million). This includes a one-time gain from a transaction where dnata divested its minority stake in Accelya, an IT company that was acquired by Vista Equity Partners. Without this one-time transaction, dnata’s profit would have been down 72% compared to the same period last year, which included a one-time gain from the sale of dnata’s stake in travel company HRG. Comparing profit performance without both disinvestment gains from Accelya and HRG, dnata’s profit for 2019-20 would have been lower by 64% compared to previous year.

dnata’s total revenue grew to AED 14.8 billion (US$ 4.0 billion), up 2%. This reflects its continued business growth particularly in its Catering division, and strong customer retention and new contract wins across its four divisions. dnata’s international business now accounts for 72% of its revenue.

Laying the foundations for its future growth, dnata invested more than AED 800 million (US$ 218 million) in acquisitions, new facilities and equipment, leading-edge technologies and people development during the year.

In 2019-20, dnata’s operating costs increased by 8% to AED 14.3 billion (US$ 3.9 billion), in line with organic growth across its business divisions, coupled with integrating the newly acquired companies mainly across its catering division and international airport operations.

dnata’s cash balance was AED 5.3 billion (US$ 1.4 billion), an increase of 4%. The business delivered an AED 1.4 billion (US$ 380 million) cash flow from operating activities in 2019-20, which is in line with its enhanced cash balance and puts the business in a solid position to finance its investments.

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Revenue from dnata’s UAE Airport Operations, including ground and cargo handling remained steady at AED 3.2 billion (US$ 864 million).

The number of aircraft movements handled by dnata in the UAE declined by 11% to 188,000. This reflects the impact of the DXB runway closure in April-May 2019, and the suspension of scheduled passenger flights at both Dubai airports (DXB and DWC) due to COVID-19 pandemic containment measures in March. dnata’s cargo handling declined by 4% to 698,000 tonnes, impacted by lower demand in the overall air cargo market during the year, and the 45-day DXB runway closure in Q1.

During the year, dnata executed the UAE’s first green turnaround of a flydubai aircraft at DXB, an achievement made possible by its previous investments in zero-emission, electric ramp ground support equipment. Its airport services brand, marhaba, opened an expanded and refurbished lounge at Dubai International airport, and expanded its international network with a new lounge in Singapore’s Changi Airport.

dnata also strengthened its position in the UAE and regional cargo logistics industry by joining forces with Wallenborn Transports, Europe’s largest air-cargo road feeder services (RFS) operator. The partnership will see the companies develop new products and services, and enter new markets.

dnata’s International Airport Operations division revenue declined slightly by 1% to AED 3.9 billion (US$ 1.1 billion), reflecting strong competitive pressure. International airport operations continue to represent the largest business segment in dnata by revenue contribution.

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The number of aircraft handled by the division increased by 1% to 493,000, on account of increasing business volumes pre-pandemic, as well as the opening of new locations and winning new contracts; whereas there was a 6% decline in cargo handled to 2.2 million tonnes as air freight demand across many markets remained soft for most of the year.

During 2019-20, dnata continued to strengthen its international airport operations with the expansion of passenger and ground handling operations in Austin, New York JFK, and Washington DC on the back of new contracts and customer demand. It also inaugurated new cargo capabilities with a second warehouse in Brussels dedicated to handling imports, and a new bespoke export facility at London Heathrow, dnata City East, which is equipped with industry-leading technology and significantly increases the cargo capacity at the UK’s busiest airport.

dnata’s Catering business accounted for AED 3.3 billion (US$ 903 million) of dnata’s revenue, significantly up by 26%. The inflight catering business uplifted more than 93 million meals to airline customers, a substantial increase of 32% mainly due to the full year impact of Qantas’ catering business in Australia which dnata had acquired in the previous year.

In 2019-20, dnata launched its first catering operations in Canada in Vancouver. It also opened new catering operations in Houston, Boston, Los Angeles, and San Francisco, significantly expanding its footprint and capabilities in North America, where it saw strong customer interest and growth prospects before the COVID-19 pandemic in Q4 brought these budding operations to a temporary halt. During the year, dnata also announced plans for a new catering facility in Manchester, UK, and a significant partnership to manage Aer Lingus’ catering operations and to serve all its flights out of Dublin, Ireland.

In March, dnata became sole shareholder of the UK’s biggest inflight catering, on-board retail, and logistics company, and brought Alpha LSG – previously a joint venture partner – fully in the dnata portfolio.

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Revenue from dnata’s Travel Services division has declined by 4% to AED 3.5 billion (US$ 964 million). The underlying total transaction value (TTV) of travel services sold declined by 6% to AED 10.8 billion (US$ 3.0 billion).

dnata’s Travel division saw weak travel demand having a negative impact on its business performance, particularly in its B2C units in the UK and Europe. This led the management team to initiate a strategic business review of its entire Travel portfolio, part of which resulted in an impairment charge of AED 132 million against goodwill in our UK travel B2C brands. The review will be completed in the first quarter of 2020-21.

In the UAE and GCC region, dnata’s Travel business remained steady. During the year, dnata expanded its UAE retail network with the opening of new service outlets, and launched REHLATY, a new travel brand designed by Emiratis for the Emirati traveller.

Similar to other parts of its business, dnata’s Travel division was hit hard in the last quarter by a sharp and sudden decline in travel demand due to the COVID-19 pandemic, with corporate and retail customers seeking refunds for their disrupted travel plans.

The full 2019-20 Annual Report of the Emirates Group – comprising Emirates, dnata and their subsidiaries – is available here.

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US$ figures are converted at 1US$ = 3.67AED and are based on the full AED figures before rounding.

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People & Lifestyle

Deepening Cooperation: Telecel Ghana and Huawei Sign New Framework Contract to Provide Better Network Experience

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Telecel and Huawei Leadership teams after signing the contract

At the recently held Mobile World Congress (MWC) in Barcelona, Telecel Ghana and Huawei Ghana signed a new framework contract to promote cooperation and partnership for providing improved network experience and coverage in Ghana.

The new contract is aligned with Telecel’s vision to lead Africa’s digital revolution, connecting communities with sustainable and locally developed innovative connectivity methods, and inspiring technological advancements that pave the way for a thriving, interconnected continent. It also reflects Huawei’s vision of bringing digital to every person, home and organization for a fully connected and intelligent world. This signifies not only their commitment to each other but also unwavering confidence for the future of the telecommunications industry in Ghana.

With the shared consensus that Telecom plays a pivotal role in shaping the modern society, the two parties have worked together since 2023 to launch over 500 4G+ sites in record time. The  contract demonstrates the commitment of Telecel Ghana to improve coverage, capacity in  hotspots and the overall availability of 4G services. 

Ing. Patricia Obo-Nai, CEO of Telecel Ghana affirmed Telecel’s commitment to collaborate closely with Huawei to harness the latest technologies and unmatched expertise to propel the evolution of modern network infrastructure and intelligence. This symbiotic partnership is poised to unlock unparalleled opportunities, ushering users into an era of unparalleled, world-class mobile connectivity.

Samuel Chen, CEO of Carrier Business in Huawei Southern Africa, said based on a solid collaboration with Telecel Ghana, Huawei has strong commitment to accelerate the development of mobile data and fixed broadband. Tommy Liang, MD of Huawei Ghana, emphasized the promise to advance FinTech ecosystem for driving innovation and promoting economic growth.

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Adinkra International Arts & Crafts Show Set to Showcase African Cultural Heritage in Accra, Ghana

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The inaugural ceremony of the Adinkra International Arts & Crafts Show, hosted by the Ghana Export Promotion Authority (GEPA), is poised to be a landmark event celebrating the vibrant cultural heritage and artistic excellence of Ghana and the wider African continent. (more…)

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How To Improve Small Business Accounting With Customised Financial Solutions

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Business Plan

Small enterprises frequently encounter distinctive hurdles in the realm of accounting. Limited resources, fluctuating revenues, and evolving financial needs can make managing finances daunting. Yet, employing appropriate methods and tailored financial remedies enables small businesses to streamline accounting operations, attain more profound insights into their economic well-being, and ultimately foster growth. This blog post will explore how small businesses can improve their accounting practices through tailored financial solutions and customised accountancy packages.

Understanding Your Business Needs

The first step in improving small business accounting is understanding your business’s specific needs. Every business is unique, with its financial goals, challenges, and operational dynamics. By thoroughly assessing your business requirements, you can identify areas where your accounting processes may be lacking and where customised solutions can make a difference. Whether managing cash flow, tracking expenses, or optimising tax strategies, a tailored approach ensures that your accounting practices align with your business objectives.

Leveraging Technology for Efficiency

Technology has revolutionised how businesses manage their finances, offering various tools and software solutions to streamline accounting processes. Small businesses accounting solutions can benefit significantly from leveraging technology to automate repetitive tasks, track financial transactions in real-time, and generate insightful reports. Customised accounting software packages can be tailored to suit your business’s specific needs, allowing you to concentrate on fundamental activities while guaranteeing precision and adherence to financial management standards.

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Partnering with Experienced Professionals 

While small business owners often wear many hats, managing complex financial matters may require specialised expertise. Partnering with experienced accounting professionals who understand the unique challenges of small businesses can provide invaluable support and guidance. These experts can provide customised guidance, assist in implementing optimal procedures, and offer continuous assistance to maintain the efficiency and effectiveness of your accounting processes. Whether it involves bookkeeping, tax strategy, or financial analysis, having a reliable advisor can profoundly influence your business’s economic prosperity.

Flexibility and Scalability

Your accounting needs may also change as your business grows and evolves. Customised Accountancy Packages offer the flexibility and scalability to adapt to your business’s changing requirements. Whether you’re expanding into new markets, launching new products, or facing economic uncertainties, customised accountancy packages can be adjusted to accommodate these changes. This scalability ensures that your accounting processes remain robust and relevant, supporting your business’s growth trajectory over the long term.

Conclusion

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Practical accounting is essential for the success of any small business, but traditional one-size-fits-all approaches may only sometimes suffice. By embracing customised financial solutions and tailored accountancy packages, small businesses can overcome the challenges of managing their finances and unlock their full growth potential. Understanding your business needs, leveraging technology, partnering with experienced professionals, and prioritising flexibility and scalability are vital steps in improving small business accounting. With the right strategies, small businesses can achieve greater efficiency, accuracy, and financial insight, paving the way for long-term success. Customised financial solutions empower small businesses to take control of their finances and drive sustainable growth in today’s competitive landscape.

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The Future of Sports Betting: How AI is Changing the Game

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The Thriving Intersection of Sports and Sports Betting in Nigeria

In recent years, the sports betting landscape has undergone a significant transformation, driven by advancements in artificial intelligence (AI) and machine learning. These technologies are not only changing how bets are placed but are also reshaping the strategies used by both bookmakers and bettors to predict outcomes more accurately. As AI continues to evolve, it is poised to revolutionize the sports betting industry, offering new opportunities for data analysis, decision-making, and personalized betting experiences. Let’s explore three key ways in which AI is changing the game in sports betting.

1. Enhanced Predictive Analytics

The cornerstone of successful sports betting has always been the accurate prediction of game outcomes. AI and machine learning have taken predictive analytics to a new level, enabling the analysis of vast datasets beyond the capabilities of human analysts. These technologies can process and analyze data from a variety of sources, including player performance statistics, team history, weather conditions, and even social media sentiment, to make highly accurate predictions about future sports events.

Machine learning algorithms learn from historical data and continuously improve over time, becoming more sophisticated in identifying patterns and trends that can influence the outcome of a sports event. This means that bookmakers can offer odds that are more reflective of the actual probabilities, and bettors can make more informed decisions. For instance, Rebellion Research’s proprietary machine learning model, which has a history of outperforming the S&P 500, could be adapted to sports betting, providing insights that could significantly improve the accuracy of bet predictions.

2. Real-time Data Processing and In-play Betting

One of the most exciting developments in sports betting is the rise of in-play or live betting, which allows bettors to place bets on events as they are happening. AI plays a crucial role in this area by processing real-time data from live games to update odds instantly. This not only enhances the betting experience by making it more dynamic and engaging but also requires sophisticated algorithms that can quickly analyze incoming data streams to adjust the odds in real-time. Premier League betting, with its blend of rich tradition and intense competition, offers unparalleled excitement and opportunities for bettors, driven by real-time data analytics and predictive AI technologies that are reshaping the landscape of sports wagering.

AI systems can track live data such as scores, player performance metrics, and in-game events to provide up-to-the-second betting options. This capability ensures that both bookmakers and bettors have the most current information at their fingertips, enabling decisions to be made on the fly. The immediacy and accuracy of AI-driven in-play betting offer a more interactive and immersive betting experience, significantly different from traditional pre-match betting.

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3. Personalization and User Experience

AI is also revolutionizing the user experience in sports betting by enabling highly personalized services. Through machine learning algorithms, betting platforms can analyze individual user behavior, preferences, and betting patterns to tailor recommendations, odds, and promotions to each user. This level of personalization improves the engagement and retention rates of bettors, making the betting experience more enjoyable and customized.

Furthermore, AI-driven chatbots and virtual assistants can provide 24/7 customer service, offering instant responses to queries, guiding users through betting processes, and even offering personalized betting advice. This use of AI not only enhances customer satisfaction but also allows betting platforms to operate more efficiently by automating routine customer interactions.

 

The integration of AI into sports betting is transforming the industry by enhancing predictive analytics, enabling real-time data processing for in-play betting, and personalizing the user experience. As AI technology continues to advance, it promises to unlock even more innovative and exciting opportunities for the sports betting industry. The future of sports betting looks to be more data-driven, dynamic, and personalized, offering a richer and more engaging experience for bettors around the globe.

 

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4. Fraud Detection and Enhanced Security

As sports betting continues to grow in popularity, so does the potential for fraudulent activity. AI and machine learning are becoming invaluable tools for identifying and preventing fraud within the betting industry. By analyzing betting patterns and behaviors in real-time, AI systems can flag unusual activities that may indicate fraudulent behavior, such as match-fixing or the use of insider information. These systems can also monitor for irregular betting patterns across multiple accounts to detect coordinated attempts at fraud.

Moreover, AI enhances security by ensuring the integrity of betting operations. Through the use of sophisticated algorithms, AI can help maintain a fair and secure betting environment, protecting both the bettors and the bookmakers. Enhanced security not only builds trust in the platform but also safeguards the reputation of the sports betting industry as a whole.

5. Market Expansion and New Betting Products

AI is driving innovation in the sports betting industry, leading to the expansion of markets and the introduction of new betting products. With the ability to analyze and predict outcomes in a wide range of sports and events, AI opens up new opportunities for betting in less traditional sports or in aspects of games that were previously difficult to quantify. For example, bets on individual player performances, in-game events, or even fantasy sports leagues are becoming more common, thanks to AI’s predictive capabilities.

Furthermore, AI enables the creation of more complex betting options and products that can cater to niche interests. This diversification not only attracts a broader audience but also enhances the betting experience by offering more choices to bettors. As AI continues to evolve, we can expect to see even more innovative betting products and markets emerge, further expanding the scope of sports betting.

6. Optimizing Betting Odds and Risk Management

AI and machine learning significantly contribute to the optimization of betting odds and risk management for bookmakers. By analyzing vast amounts of data, AI models can more accurately set odds that reflect the true probability of various outcomes, thereby maximizing the bookmaker’s margins while still offering fair odds to bettors. This level of accuracy in odds setting also enhances competitiveness in the betting market.

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In terms of risk management, AI algorithms can assess the risk associated with certain bets or events and adjust the odds accordingly. This dynamic adjustment helps bookmakers manage their liability and ensures the long-term financial stability of their operations. AI’s ability to predict and manage risks is transforming the sports betting industry, making it more efficient and financially secure.

 

These additional points highlight the growing importance of AI in addressing security concerns, expanding the betting market, and optimizing odds and risk management in sports betting. As AI technology advances, its applications within the sports betting industry are expected to become even more sophisticated, further revolutionizing how bets are placed, managed, and secured. The future of sports betting, powered by AI, promises a more secure, diverse, and dynamic betting landscape.

 

7. Customizing Betting Strategies with AI

AI’s ability to analyze complex patterns and predict outcomes has paved the way for customized betting strategies tailored to individual preferences and historical success rates. Bettors can leverage AI-driven tools to analyze their betting history, strengths, and weaknesses, enabling the development of personalized betting strategies that optimize their chances of winning. These tools can suggest when to bet, how much to bet, and on what events to bet based on predictive analytics and individual risk tolerance, transforming the betting experience into a more calculated and strategic endeavor.

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8. Enhancing Player Performance Predictions

Beyond team outcomes, AI is becoming increasingly sophisticated in predicting individual player performances, which is crucial for fantasy sports betting and player-specific bets. By analyzing data points such as player fitness levels, historical performance under similar conditions, and matchups against specific opponents, AI models can offer insights into likely player achievements in upcoming games. This capability not only benefits bettors looking for an edge in player-specific wagering but also aids fantasy sports enthusiasts in making informed decisions about their team compositions.

9. Streamlining Betting Processes Through Automation

AI and automation are streamlining the betting process, making it faster and more efficient for both bettors and bookmakers. Automated systems can handle routine tasks such as placing bets, processing payouts, and managing accounts, allowing bettors to focus on strategy and enjoyment of the game. For bookmakers, automation reduces the operational workload, minimizes human error, and ensures transactions are processed swiftly and accurately. This efficiency not only improves the user experience but also allows bookmakers to scale their operations effectively to accommodate the growing demand in the sports betting market.

 

The integration of AI into sports betting is transforming the industry in multifaceted ways. From customizing betting strategies to enhancing player performance predictions and streamlining betting processes through automation, AI is making sports betting more sophisticated, strategic, and user-friendly. As technology continues to advance, the potential for further innovations in sports betting remains vast, promising even more exciting developments for bettors and bookmakers alike.



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AFRICA FILM SOCIETY OPENS 2024 CLASSICS IN THE PARK WITH SANKOFA

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Haile Gerima’s critically acclaimed film ‘Sankofa’ will be screening at the Africa Film’s Society’s free outdoor film festival Classics in the Park on 30th March 2024 Akola Boni Park in Osu, Accra.  

Released in 1993, Sankofa follows a self-absorbed Black American fashion model on a photo shoot in Ghana who is spiritually transported back to a plantation in the West Indies where she experiences first-hand the physical and psychic horrors of chattel slavery, and eventually the redemptive power of community and rebellion as she becomes a member of a freedom-seeking Maroon colony. The film stars Ghanaians Kofi Ghanaba and Alenxandra Duah.

Over the past eight years, Classics in the Park has introduced classic African films ((1950’s – 1990’s) to young film audiences for free. This year’s edition will run from 30th -31st March and will feature two feature films and thirteen short films. 20240327 153502

Sankofa will screen on the first day alongside the short films: Second Wind (Canada), Fofo Means Father (Ghana), Doris (Ghana), Ampe (Ghana), and Rosenfield (Germany). 

Bound for Lagos, a Nigerian classic released in 1960 to mark the country’s independence will take centre stage on the final day alongside the short films: Broken Mask (Nigeria), Hooky (USA), Love in the Wind (Ghana), Bege (Nigeria), Rare (Ghana), Moon over Aburi (Ghana), Do or Die (Nigeria), and O.YO – On your Own (Nigeria). 

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Michael Adjetey and Ebenezer Okrah Call For “Change” In Powerful New Single

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CHANGE SINGLE ALBUM COVER scaled

In their latest musical collaboration, Michael Adjetey and Ebenezer Okrah have taken a bold step to address issues in African society. Their new song, titled ‘Change,’ serves as a powerful call to action, urging Africans and Ghanaians to demand accountability from their political leaders. The artists emphasize that the failures of corrupt politicians should not be tolerated or excused, and instead advocate for a collective effort towards positive change.

At a time when corruption and political misconduct continue to hinder progress in many African nations, ‘Change’ serves as a much-needed anthem for disillusioned citizens. Michael Adjetey and Ebenezer Okrah deliver an empowering message, encouraging Africans to take a stand against the rampant corruption that has plagued their societies for far too long. Through their lyrics, the artists emphasize the importance of holding politicians accountable and demanding transparency in governance.

The song ‘Change’ highlights the artists’ frustration with the lack of development and progress resulting from the actions of corrupt politicians. Michael and Ebenezer’s lyrics convey a sense of disappointment, as they express the belief that Africans and Ghanaians deserve better leadership. They emphasize that the failures of politicians should not be an excuse for the stagnation of their countries; instead, it should be a catalyst for change and collective action.

‘Change’ by Michael Adjetey and Ebenezer Okrah serves as a rallying cry for Africans and Ghanaians to address the issue of corruption in their respective countries. Through their powerful lyrics, the artists urge citizens to hold their leaders accountable and work towards achieving a brighter future. This song has the potential to inspire a collective movement towards positive change, empowering individuals to actively participate in shaping the destiny of their nations.

Ebenezer and Michael believe in hard work. However, they also affirm the believe that without God, nothing is impossible. They implore society in general to change from iniquities to holiness, for what shall it profit a man/woman, if you gain the whole world but lose your soul. “Change” is a clarion call for salvation, not only to the politicians, but to all humanity. So, going forward, if we say “OPUTUNUU”, you say “WA MA TSA K3 MI”. We’ve got to change inside y’all. Change MUST Come.

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Audio Link : https://ditto.fm/eochange

 


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