Banking
Stanbic IBTC Unveils ACAP to Assist Nigerian Importers
Stanbic IBTC Bank has launched an Africa-China Agent Proposition (ACAP) which aims to assist Nigerian importers source and validate quality goods, safely and efficiently, from the most competitive suppliers in China.
The ACAP offering is expected to revolutionise African importers’ view of China’s supplier universe. It will also ease the cash flow of African importers by providing access to financing while empowering importers with sight and control of the entire importing and logistics process.
The offering, which is expected to connect African importers and Chinese exporters and open China to Africa, was officially launched in Nigeria on Tuesday 21 May, 2019, and will also be launched in Ghana and South Africa with other markets in Standard Bank’s African footprint to follow before the end of 2019.
Currently, Nigerian importers order from only a handful of trusted Chinese suppliers. This limits the negotiating power of African importers while stacking the terms of trade against them. While ordering online provides access to a wider range of suppliers, online imports cannot guarantee the quality of goods. In most cases too, advance payments for goods are required. This is often demanded in cash, without reciprocal guarantees of delivery or quality. This means that Nigerian importers often carry a disproportionate burden of risk in most transactions. Language and cultural barriers are also a challenge for African importers when traveling and negotiating supplier agreements in China.
In response to these challenges, and in light of the vast opportunity that China presents as a trading partner, Standard Bank, the biggest bank in Africa, has leveraged its partnership with the Industrial and Commercial Bank of China (ICBC), the biggest bank in the world, to connect African importers with a dedicated trade agent in China.
“The ACAP offering- underpinned by a letter of credit- will deepen trust in Africa-China trade relationships, guaranteeing African importers access to the best suppliers in China, the best payment terms and the best quality,” said Dr. Manessah Alagbaoso, Head, Africa China Integration, Standard Bank. If any of the terms of the letter of credit are not met, payment will not be made. As such, the offering will, “place African importers in a much stronger negotiating position when it comes to the price, quality and efficiency of importing Chinese goods,” stated Dr. Alagbaoso. At the same time, “Chinese suppliers can be confident that once the terms of the letter of credit have been met, payment will be made in full and on time – guaranteed by Stanbic IBTC Bank or Standard Bank and ICBC,” added Dr. Alagbaoso.
In his remarks, Chief Executive, Stanbic IBTC Bank PLC, Dr. Demola Sogunle, reaffirmed the bank’s objective of constantly exploring opportunities of adding significant value to the businesses of its customers.
“Stanbic IBTC has established market leadership in several financial services segments, and our ultimate goal is to continually leverage on our connections, knowledge and experience in delivering impeccable service and value that would similarly make our customers not just get ahead but emerge leaders in their respective business segments and ACAP is another of such enablers”, said Sogunle.
Zhejiang International Trading Supply Chain Co. Ltd (Guomao) is the first Chinese Trade Agent nominated by ICBC to partner with Standard Bank to assist African importers trade seamlessly with China. “Guomao currently has almost 10 000 suppliers that meet the import needs of our clients,” says Dr. Alagbaoso. Where the need of a client falls outside of the supplier base that Guomao currently has, they will source new suppliers for that need after going through a process of new supplier validation and verification.
Guomao will assist Nigerian importers with services such as source the right suppliers, negotiate the best prices and trade conditions, arrange for African importers to travel to China and meet with a broad range of suppliers, provide translators to facilitate trade negotiations and discussions and source and validate the quality of goods. Other functions the agent would offer are to provide quality guarantees on goods from those Chinese suppliers recommended by the trade agent, ensuring that quality meets the expectations of African importers, rectify any quality issues on behalf of the African importer, finance imports based on a letter of credit from Standard Bank and ICBC as required and handle shipping logistics.
With over 20 years’ experience in foreign trade procurement services, Guomao provides a one-stop foreign trade supply chain, supply chain finance, and cross-border e-commerce supply chain service, “able to help Standard Bank’s clients navigate China’s foreign trade supply chain and trade seamlessly,” he added. In time, Standard bank’s ACAP offering will include other Chinese trade agents in other key international trade hubs of China, deepening access to China’s supplier universe.
Importantly, the ACAP offering will ease the cash flow of African importers. “Since Chinese suppliers will be secure in their possession of an ICBC-underwritten letter of credit, African importers will be able to receive goods before payment is made,” said Dr. Alagbaoso. This will allow African importers to keep cash in the business for growth.
By Aduragbemi Omiyale
Stanbic IBTC stole the spotlight at the recently concluded Euromoney Awards for Excellence 2026 in London, the United Kingdom.
At the ceremony, which attracted critical stakeholders in the financial services sector across the globe, the member of Standard Bank Group was named winner in four categories.
The company went home with the Best Bank for Sustainable Finance award, the Best Bank for Consumer Lending award, the Best Bank for Mortgages/Home Loans award and the Best Bank for Securities Services award.
“We are pleased to have been named winner in these categories at the Euromoney Awards for Excellence 2026. These are important areas of our business and remain central to how we support individuals, businesses and institutional clients across Nigeria.
“Our focus remains on delivering reliable, relevant and responsible financial solutions, while serving our clients with the discipline, professionalism and care they expect from Stanbic IBTC,” the chief executive of Stanbic IBTC Holdings Plc, Mr Chuma Nwokocha, said.
Also commenting, the chief executive of Stanbic IBTC Bank, Mr Wole Adeniyi, said, “Across our business, we continue to focus on solutions that respond to the needs of our clients, whether they are individuals, families, businesses or institutions. We will continue to strengthen our service delivery, deepen client relationships and support responsible growth across the markets we serve.”
In the 2025 fiscal year, Stanbic IBTC showed continued scale across its financial services business, reporting total assets of N8.62 trillion, customer deposits of N4.37 trillion and net customer loans and advances of N2.38 trillion, as total income stood at N895.7 billion, while return on equity was reported at 42.4 per cent.
Stanbic IBTC’s sustainability disclosures also showed continued activity across its ESG and positive impact priorities. The organisation reported N277.3 billion in sustainable loans disbursed, representing a 60 per cent increase from 2024; and N76.4 billion in loans disbursed to 2,862 SME clients for the year ended 2025.
Its sustainability approach is anchored on three high-impact goals: driving sustainable industrialisation; facilitating sustainable trade; and fostering equitable access to finance. It also identifies four positive impact areas: job creation and enterprise growth; infrastructure development and energy transition; climate change mitigation and adaptation; and financial inclusion.
Across consumer lending and home loans, Stanbic IBTC continues to provide financing solutions to individuals and households, supported by the Group’s broader banking platform and customer-focused approach.
In securities services, Stanbic IBTC continues to provide custody, settlement, corporate actions, securities lending, reporting, reconciliation, foreign exchange processing and related investor services to institutional clients participating in Nigeria’s capital markets.
Stanbic IBTC continues to support individuals, businesses and institutional clients across sustainable finance, consumer lending, mortgages/home loans and securities services; while remaining focused on delivering financial solutions that are relevant to clients and responsive to the operating environment.
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.”
