Banking
Access Bank Drives Women Entrepreneurship with Pitch-a-ton
By Adedapo Adesanya
A leading financial institution, Access Bank, has unveiled the second edition of its Womenpreneur Pitch-a-ton programme, an innovation aimed at providing and creating an enabling environment for female entrepreneurs to grow their businesses.
Tagged the Womenpreneur Pitch-a-ton Africa 2020 Campaign, this year’s event is designed to provide female-owned businesses across Africa an opportunity to access finance and world-class business training as well as mentoring opportunities.
Speaking at the launch of the second edition of the initiative, Mrs Ayona Trimnell, Group Head, W Initiative, said, “Access Bank has been a leading advocate for women’s economic empowerment in Nigeria and this is the key motivation for the W Initiative which caters to the women economy particularly in the areas of capacity building and creating networking opportunities for women.”
She explained that the Pitch-a-ton is an expansion of the Womenpreneur Business Workshop, under the bank’s women proposition, the W Initiative.
“We launched the Pitch-a-ton initiative last year in line with our value proposition as the Number 1 Bank of Choice for women in Nigeria, and we got a tremendous amount of applications with innovative business ideas.
“This year, we want to do more and we want to reach out to more female entrepreneurs not just in Nigeria but across Africa. As a responsible financial institution with huge presence in other African countries, we want to give the same opportunity to other female entrepreneurs in Ghana, Rwanda and Zambia as well as Sierra Leone, Mozambique, Gambia and Congo to apply and participate in this year’s edition of the programme,”she added.
The Womenpreneur Pitch-a-ton Africa 2020 will provide up to N9 million financial grant and a unique capacity building program aimed at empowering women entrepreneurs.
The programme is designed as a 3-month period incorporating pitching sessions and eight weeks of mini-MBA training in collaboration with the International Finance Corporation (IFC).
Interested persons from Nigeria, Ghana, Zambia and Rwanda as well as with extension to Sierra Leone, Mozambique, Gambia and Congo who meet the criteria are required to fill an online application.
The 500 candidates selected from this pool will then send in a 60 seconds video pitch which will be screened by a credible panel of business experts to select 50 finalists.
As part of the graduation requirements, the 50 finalists will pitch their businesses, infusing learnings from the mini-MBA and will stand an opportunity to win financial grants up to N5 million.
As a leading commercial bank in Nigeria, Access Bank has made significant investments aimed at enhancing growth in the Small and Medium-size Enterprise sector.
The bank is also a major advocate for women in business through innovative offerings like the W Power Loan, a discounted financing at 15 percent interest per annum, for women to grow their business as well as other Business Support Services.
The Womenpreneur Pitch-a-ton is the first women-in-business support initiative of its kind in the industry.
By Aduragbemi Omiyale
No fewer than 20 fresh millionaires have emerged in the Fidelity Bank Plc Get Alert in Millions (GAIM) Season 6 promo.
They winners were picked at the second and third monthly draws of the financial institution held at its corporate headquarters in Lagos recently.
The events were monitored by the representatives of relevant regulatory bodies, including the South-West Zonal Coordinator of the Federal Competition and Consumer Protection Council (FCCPC), Mrs Aboluwade Margaret; and the Principal Legal Officer of the Lagos State Lotteries and Gaming Authority, Oyinkan Kusamotu.
A statement from the lender disclosed that the 20 lucky winners were randomly selected through an electronic draw across Lagos, North, Abuja, South-West, South-South, and South-East zones and would be rewarded with N1 million each.
The Fidelity Bank GAIM campaign was launched in November 2024 and about N19.75 million has been won by 869 customers across different categories.
The GAIM 6 campaign, which will run until August 2025, is set to reward lucky customers with a total of N159 million.
Speaking at the draws, the promo Chairperson and Executive Director for Lagos and South-West, Fidelity Bank, Dr Ken Opara, noted that the GAIM 6 promo was designed to reward customers’ loyalty, encourage a savings culture, and promote financial inclusion across the country.
Dr Opara, represented by the Regional Bank Head for Ikoyi, Chetachi Okechukwu, said, “Fidelity Bank is dedicated to the financial well-being of our customers and this commitment inspired the launch of the GAIM Promo, designed to cultivate a strong culture of savings.
“Through this promo, customers have the chance to win substantial cash prizes up to N10 million by saving and transacting with their Fidelity Bank Savings accounts.
“In addition to the monetary rewards, winners will receive complimentary financial advisory services to secure and grow their wealth for the future.”
Fidelity Bank, ranked among the best banks in Nigeria, is a full-fledged Commercial Deposit Money Bank serving over 8.5 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
By Modupe Gbadeyanka
As part of its commitment to deliver quality service to customers, Rand Merchant Bank (RMB) has finally embraced the trade finance software of Union Systems Limited (USL), Kachasi.
The lender said its migration from Finastra’s Trade Innovation (TI) to USL’s Kachasi is a testament to the strength, reliability and competitiveness of this homegrown solution.
Kachasi is Nigeria’s leading indigenous trade finance software built to empower banks with seamless automation, regulatory compliance, and enhanced operational efficiency.
The platform has consistently proven to be a game-changer in the trade finance sector, offering key features such as full compliance with statutory and local regulatory requirements, end-to-end automation of trade finance processes, compliance with international trade regulations, advanced risk management and reporting tools, as well as seamless integration with core banking, local portals and third-party systems.
RMB said its decision to integrate Kachasi into its operations reinforces the platform’s reputation as a trusted trade finance solution.
As international trade becomes more complex, financial institutions require cutting-edge technology to navigate regulatory requirements, mitigate risks, and ensure operational excellence.
“This win affirms our commitment to revolutionizing trade finance automation across Africa. As more financial institutions embrace Kachasi, we remain dedicated to delivering cutting-edge solutions that drive efficiency and elevate the banking sector,” the financial institution stated.
Also, the chief executive of USL, Mr Chuks Onyebuchi, said, “This partnership with Rand Merchant Bank marks a defining moment, not just for Union Systems Limited but for African-built fintech solutions on the global stage.
“The successful transition from Finastra’s Trade Innovation (TI) to Kachasi proves that our homegrown technology is not only competitive but also better suited to the evolving needs of banks and trade finance institutions.
“Kachasi’s seamless automation, deep integration capabilities, and understanding of the local and international trade landscape make it the ideal choice for financial institutions looking to drive efficiency and innovation. This achievement is a testament to our commitment to building world-class technology, and we are excited to support RMB in revolutionizing their trade finance operations.”
By Adedapo Adesanya
Nigerian non-interest bank, TAJBank, is finalising arrangements to raise the sum of N20 billion Mudarabah Sukuk to beef up its additional tier 1 capital with the aim of fueling its business expansion drive in the country.
The issuance is part of its larger N100 billion Sukuk programme.
The new investment initiative, which is coming two years after the issuance of the first-ever N10 billion Sukuk on the Nigerian Exchange (NGX) Limited in 2023, presents a unique opportunity for individuals and institutions to invest in an ethical instrument with a competitive 20.5 per cent per annum return.
The Mudarabah Sukuk, which is open to all investors, is designed to offer a stable and ethical investment option, allowing investors to participate in the bank’s profit-sharing ventures.
According to a statement, the the move underscores its commitment to expand access to innovative financial solutions and promoting financial inclusion in the country.
The Mudarabah Sukuk issuance terms and conditions are undergoing final regulatory assessment and approval processes.
The chief executive of TAJBank, Mr Hamid Joda, said, “We are excited to bring this Mudarabah Sukuk to the market, offering a compelling investment opportunity that aligns with ethical financial principles.”
“This listing on the NGX will enable a wider range of investors to participate in our growth and benefit from our profit-sharing model”, the banker added.
Mr Joda had, at the beating of the gong during the listing of the TAJBank’s maiden N10 billion Sukuk bond on the NGX in February 2023, assured investors that the bank’s board and management would ensure good returns on their investments.
Business Post reports that the bond was over-subscribed by over 115 per cent.
“As TAJBank gets the NGX’s endorsement today on its fund raising for operations, I want to assure all investors in the maiden Sukuk bond offer by our bank that the board and management will surpass their expectations in terms of return on their investment and other benefits,” he said.
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