Banking
Access Bank Produces More Millionaires with DiamondXtra Promo
By Adedapo Adesanya
More winners emerged on Wednesday from the ‘DiamondXtra Save More Win More’ promo put in place by Nigeria’s top financial institution, Access Bank Plc.
At the presentation of prizes to lucky winners by top executives of the bank in Lagos, the company’s Head of Products, Insights, and Capability, Mr Robert Giles, noted that the promo, in its eleventh season, has made 10 more people millionaires in the month of July alone.
“We have given over N5 billion out to winners. So, we are actually transforming lives not in the short term, not for one month, or three months, this is 11 years of making millionaires,” he said.
Business Post reports that in Lagos, Stanley Igwe, Chimezie Nworah and Samuel Ebu won N1 million each, while Olusina Fadare from Ogun State got N1 million as one of the winners yesterday.
Other winners of N1 million at the DiamondXtra savings scheme on Wednesday were Amos Tochukwu from Abuja, Oluwadamilade Alese from Edo State, Orugbala Anna from Rivers State, Stephen Nwachukwu from Oyo State, Ejekwu John from Rivers State and Agu N.A from Abia State.
Mr Giles, while speaking on the improvement made by the bank on the draw, emphasised that the needs of customers were taken into consideration, which brought about other consolation prizes like the Salary4Life, education allowances, rent allowances amongst other cash rewards available for customers to win.
He further stated that the promo has been very successful for the bank because it has brought about satisfaction to its customers which in turn is a major advantage to the company.
“Customers who use DiamondXtra stay with us a lot longer. They do more with us because effectively, our customers get rewarded for doing something they were doing before, and in addition to keeping your money safe, we also give people the opportunity to get a prize that is transformational,” he informed newsmen.
Speaking on the volume of customers on the DiamondXtra platform, Mr Giles said there millions of depositors partaking in the promo. “We have millions of customers now on DiamondXtra. So, we are no longer counting in hundreds of thousands but it is a couple of millions now.”
On the bank’s plan for customers who reside in rural areas to enjoy some of the bank services, the top banker said, “We are investing in USSD to make services accessible to customers across the country. You can now do all of your banking transactions from 99 percent of the country.”
He announced that the bank has expanded from over 600 branches and has over 20,000 agents across the country that will ease the process of making transactions, noting that this would be made known to the public on a date to be later communicated.
Some of the winners present at the event included Stanley Igwe and Samuel Etiosa Ebu, expressed their delight at being the newest millionaires in Nigeria with the help of Access Bank through the ‘DiamondXtra Save More Win More’ promo.
They commended the bank for the initiative and called on more of its kind ahead of the next one in August.
The ceremony also had in attendance Adaeze Ume; Head, Consumer Proposition; Bridget Ekeogu; Regional Sales Manager; Njideka Esomeju; Regional Sales Director; Chioma Afe; Group Head, Retail Marketing, Jacob Danjuma; Head, Consumer Liabilities, and Chiamaka Odunze; Head, Retail Marketing.
By Adedapo Adesanya
Access Bank Plc, the banking subsidiary of Access Holdings Plc, has entered into a binding agreement with South African-based Bidvest Group Limited for the acquisition of 100 per cent equity stake in Bidvest Bank Limited.
The deal for the 24-year-old South African lender is due to be completed in the second half of 2025, upon regulatory approval.
This shows Access Bank’s further expansion plans in line with goals set by its late founder, Mr Herbert Wigwe.
The agreement to acquire 100 percent stake in Bidvest Bank reflects Access Bank’s commitment to strengthening its footprint in South Africa and consolidating on its position as the continent’s gateway to global markets as it seeks to optimise the benefits of recent acquisitions and accelerate its transition towards a greater focus on efficiencies.
Bidvest Bank, founded in 2000 is a niche and profitable South African financial institution providing a diverse range of services, including corporate and business banking solutions and diverse retail banking products.
As of its year ended June 2024, Bidvest Bank reported total assets equivalent of $665million and audited profit before tax of $20million.
Upon conclusion of this acquisition, Bidvest Bank will be merged with the bank’s existing South African subsidiary to create an enlarged platform to anchor the regional growth strategy for the SADC region.
This is coming just as the bank opened a new branch in Malta as part of efforts to focus on international trade finance after obtaining a banking licence from the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA).
Access Bank said the licence marks a transformative milestone in bolstering Europe-Africa trade flows.
The Maltese branch was established by Access Bank UK Limited, the subsidiary of Access Bank Plc, which is also the subsidiary of Access Holdings Plc, which is listed on the Nigerian Exchange (NGX) Limited.
By Modupe Gbadeyanka
To strengthen Europe-Africa trade ties, Access Bank has opened a new branch in Malta. It will focus on international trade finance, employing approximately 30 people in its initial phase, with plans for controlled expansion over time.
It was learned that this Maltese branch was established by Access Bank UK Limited, the subsidiary of Access Bank Plc, which is also the subsidiary of Access Holdings Plc, which is listed on the Nigerian Exchange (NGX) Limited.
Access Bank Malta Limited commenced operations after obtaining a banking licence from the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA).
Access Bank said the licence marks a transformative milestone in bolstering Europe-Africa trade flows.
Malta, a renowned international financial centre, and a gateway between the two continents, is strategically positioned to play a pivotal role in advancing commerce and fostering economic partnerships.
This strategic expansion into Malta enables The Access Bank UK Limited to leverage growing trade opportunities between Europe and Africa.
It underscores the organisation’s commitment to driving global trade, financial integration, and supporting businesses across these regions.
“By establishing operations in Malta, we will gain a foothold in a market that bridges European and North African economies, moving us one step closer to our goal of becoming Africa’s Gateway to the World.
“It further enhances our bank’s capacity to support clients with innovative solutions tailored to cross-border trade and investment opportunities,” the chief executive of Access Bank, Mr Roosevelt Ogbonna, stated.
“Europe has emerged as Africa’s leading trading partner, driven by initiatives such as the Economic Partnership Agreements between the EU and African regions and the African Continental Free Trade Area (AfCFTA).
“With Europe-Africa economic relations entering a new phase, The Access Bank Malta Limited is ideally positioned to deepen trade and meet the financing and banking needs of our clients in these expanding markets,” the chief executive of Access Bank UK, Mr Jamie Simmonds, commented.
Also speaking, the chief executive of Access Bank Malta, Renald Theuma, said, “Malta is uniquely positioned as a bridge between Europe and Africa, making it an ideal location for our subsidiary. This move allows The Access Bank Malta Limited to engage more closely with customers in Europe and deliver tailored financial solutions that drive growth and connectivity across both continents.”
By Adedapo Adesanya
The International Finance Corporation (IFC) and Goldman Sachs have announced a new partnership with African banks, including Nigeria’s Zenith Bank and Stanbic IBTC Nigeria to support the Goldman Sachs 10,000 Women initiative, a joint programme launched in 2008 to provide access to capital and training for women entrepreneurs globally.
The two Nigerian banks are part of nine financial institutions from across Africa which have agreed to join the 10,000 Women initiative committing to leverage the business education and skills tools the programme provides to create more opportunities for women entrepreneurs across the continent by providing access to business education.
Others banks include Stanbic Bank Kenya, Ecobank Kenya, Ecobank Cote d’Ivoire, Equity Bank Group, Banco Millenium Atlantico – Angola, Baobab Group, and Orange Bank.
Speaking on this, Ms Charlotte Keenan, Managing Director at Goldman Sachs said – “10,000 Women has had a powerful impact to date, but we know that there are more women to reach and more potential to be realized.
“We are delighted to partner with IFC to supercharge the growth of women-owned businesses across Africa, and mainstream lending to female business leaders. We remain committed to supporting entrepreneurs with the access to education and capital that they need to scale.”
Since 2008, the 10,000 Women initiative has provided access to capital and business training to more than 200,000 women in 150 countries.
“This expanded initiative marks a significant step forward in creating equitable economic opportunities for women in Africa, enabling them to build stronger, more resilient businesses and to realize their entrepreneurial goals,” said Ms Nathalie Kouassi Akon, IFC’s Global Director for Gender and Economic Inclusion.
Goldman Sachs’ 10,000 Women initiative complements the Women Entrepreneurs Opportunity Facility (WEOF), launched in 2014 by Goldman Sachs and IFC as the first-of-its-kind global facility dedicated to expanding access to capital for women entrepreneurs in emerging markets.
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