By Adedapo Adesanya

Paystack has launched Small Business Launchpad, a four-week business growth programme designed to help small and medium-sized enterprises (SMEs) using its platform strengthen their operations and scale sustainably.

The payments technology company said the first cohort will begin on August 27, 2026, admitting up to 50 selected businesses. Participants will receive practical business training, expert mentoring and direct support from Paystack, with sessions focusing on customer acquisition, cash flow management, business operations and growth.

The initiative is the latest in a series of programmes by Paystack aimed at supporting merchants beyond payment processing. It follows the launch of the Paystack Small Business Bundle in June, which gives eligible merchants access to discounted products and services from partner organisations.

According to the company, the Launchpad programme will build on that support by providing practical learning, access to experienced business operators, networking opportunities and hands-on guidance for entrepreneurs.

To qualify, applicants must be active Paystack merchants operating a small or medium-sized business in Nigeria. Successful applicants will be required to commit to the full four-week programme and pay a N150,000 participation fee.

Participants will have access to business clinics led by experienced entrepreneurs and industry experts, one-on-one office hours to discuss specific business challenges, priority Paystack support throughout the programme, and product benefits including early access to selected Paystack offerings.

Businesses that complete the programme will also receive three months of free payment processing, capped at N25 million in processed transactions, while becoming part of an alumni community that will continue after the programme ends.

Speaking on the initiative, Ms Jumoke Gbeleyi, Strategy and Operations Leader at Paystack, said the programme was designed to address the practical challenges entrepreneurs face daily.

“Small business owners are making decisions every day about customers, cash flow, operations and growth, often with limited time and support. Launchpad gives us a practical way to work more closely with the merchants building on Paystack, connect them with experienced operators, and help them leave with stronger systems, relevant networks and actions they can apply immediately. We want the programme to be useful from day one, not theoretical,” she said.

Paystack said the inaugural cohort will cover topics including customer acquisition, financial management, business systems and lessons from experienced operators.

The sessions will be facilitated by founders, senior business executives, finance specialists and industry leaders, including Mr Babajide Duroshola, Managing Director, Nigeria at M-KOPA; Mr Luther Lawoyin, co-founder of Pricepally; Ms Nana Abu, Senior Manager at KPMG; Mr Kenny Isichei of Bumpa; and Ms Jumoke Dada, founder of Taéillo.

The company said the programme will initially focus on Nigeria, with plans to introduce additional cohorts in the future.

By Modupe Gbadeyanka

United Bank for Africa (UBA) Plc has been recognised as the Best Bank for Retail and Sustainability Leadership (ESG) by Euromoney.

The Nigerian lender got this accolade at the prestigious 2026 Euromoney Awards for Excellence on Thursday, July 17, 2026, at The Peninsula London in the United Kingdom.

The recognition of UBA for its retail banking excellence and sustainability leadership highlights its outstanding financial performance, innovation, customer impact and sustainable business practices, underscoring the company’s leadership in driving sustainable finance while expanding access to innovative banking solutions for millions of customers across Africa.

Euromoney declared that UBA distinguished itself through significant strides in environmental, social and governance (ESG) performance, including the launch of a Green Financing Facility to support households and businesses transitioning to renewable energy, a N5 billion financing programme in partnership with the Bank of Industry to empower women-owned businesses, and its long-term commitment to achieving net-zero emissions by 2050.

The organisers of the awards also highlighted UBA’s efforts to embed sustainability within its operations through the deployment of solar-powered energy solutions across 50 branches and comprehensive ESG capacity-building initiatives that have trained more than 16,000 employees across the Group.

In the retail banking category, Euromoney recognised UBA’s continued expansion as one of Africa’s largest retail banking franchises. The bank grew its customer base to over 37 million by the end of 2025, while retail revenue more than quadrupled to N429.5 billion.

The awards also acknowledged UBA’s continued digital innovation, particularly the enhancement of its award-winning AI-powered chatbot, LEO, which became Africa’s first artificial intelligence banking platform to facilitate cross-border money transfers in local currencies through the Pan-African Payment and Settlement System (PAPSS).

“To be recognised as Nigeria’s Best Bank for both ESG and Retail Banking in the same year sends a powerful message that sustainable banking and commercial success are mutually reinforcing.

“At UBA, we are committed to financing Africa’s future, supporting businesses and communities, promoting financial inclusion, and delivering innovative banking solutions that improve lives. These awards belong to our customers for their confidence in us and to every member of the UBA family whose dedication continues to make our vision a reality,” the chief executive of UBA, Mr Oliver Alawuba, stated.

On her part, the Head of Marketing, Brand and Corporate Communications at UBA, Ms Alero Ladipo, said, “These awards are a powerful affirmation of our Customer First philosophy. Every innovation we introduce, every solution we develop and every investment we make is driven by our desire to create exceptional value for our customers.

“Whether it is supporting entrepreneurs with access to finance, enabling seamless digital payments, advancing clean energy financing or expanding financial inclusion across Africa, UBA remains focused on delivering meaningful impact. We are honoured that one of the world’s most respected financial publications has recognised these efforts.”

By Adedapo Adesanya

The Asset Management Corporation of Nigeria (AMCON) recovered about N165 billion from bank debtors in the first half of 2026, representing a 64 per cent increase from the N107 billion recovered during the corresponding period of 2025.

The chief executive of AMCON, Mr Gbenga Alade, disclosed this during an interactive session with senior media executives in Lagos over the weekend.

He said the corporation also maintained a cost-to-recovery ratio of 2.3 per cent, describing it as evidence of the efficiency of its debt recovery operations.

As part of its broader asset recovery strategy, Mr Alade announced that AMCON has commenced the process of divesting its interest in telecommunications company, NTEL, which it rescued in 2024 after the company encountered severe financial difficulties.

He explained that the planned divestment follows the successful sale of the Ibadan Electricity Distribution Company (IBEDC) and aligns with AMCON’s strategy of maximising value from distressed assets while attracting credible strategic investors into the telecommunications business.

According to him, NTEL has already begun implementing a three-pronged transformation strategy designed to reposition the company as an attractive investment destination for global investors.

Mr Alade described the restructuring as one of AMCON’s most promising asset recovery initiatives and expressed confidence that it would become a major success story in Nigeria’s telecommunications sector.

“The repositioning effort is designed to maximise value, strengthen operational competitiveness and prepare the business for long-term sustainability under new investment,” Mr Alade said.

He also reaffirmed the corporation’s confidence in the leadership of NTEL/NATCOM.

“We have full confidence in the board and management of NTEL/NATCOM as they continue to demonstrate experience, innovation, diligence and commitment towards positioning this Nigerian-owned company to compete favourably with its peers both locally and internationally,” he said.

Mr Alade added that AMCON would continue to provide updates on the divestment process as key milestones are achieved, reiterating the Corporation’s commitment to transparency.

The AMCON chief also announced that the corporation recently secured what he described as a landmark Supreme Court judgment that significantly strengthens its debt recovery powers

According to him, the apex court affirmed that the AMCON Act constitutes a special legal regime that should be interpreted purposively because the Corporation was established to address the financial crisis that arose from the banking sector challenges of 2008.

He said the judgment also confirmed that AMCON is exempt from paying stamp duties and possesses the statutory authority to dispose of collateral assets to recover outstanding debts, irrespective of the size of an obligor’s indebtedness.

“While we celebrate this landmark judgment and several other legal successes, we are not resting on our oars. We remain mindful of the various tactics employed by recalcitrant obligors to frustrate the corporation’s operations,” Mr Alade said.

Mr Alade also alleged that many of those advocating the winding down of AMCON are debtors attempting to frustrate its recovery efforts.

He maintained that decisions regarding AMCON’s sunset remain the responsibility of its Board and the Central Bank of Nigeria (CBN), stressing that the corporation remains focused on recovering outstanding debts on behalf of Nigerians.

Mr Alade further disclosed that AMCON has strengthened collaboration with debt recovery agents, solicitors and receiver managers through regular engagements and has reviewed the commission structure for its recovery partners in response to prevailing economic conditions.

NTEL, which emerged from the assets of the defunct Nigerian Telecommunications Limited (NITEL) after NATCOM acquired the company in 2015, has faced persistent financial and operational challenges over the years.

AMCON, which assumed full management control of the telecom operator in 2024, currently holds a 55 per cent controlling stake in the company. As part of its turnaround strategy, the Corporation reportedly injected N30.72 billion into NTEL in August 2025 to restore operational stability and position the company for long-term growth.