Banking
Access Bank Shines at EMEA Finance Banking Awards
By Dipo Olowookere
It was a day of glory for foremost African financial institution, Access Bank Plc, when it emerged as Nigeria’s biggest winner at the 2016 EMEA Finance Banking Awards by leading financial publication EMEA Finance Magazine.
At the event, Access Bank won in three categories awarded to financial institutions in the Pan-African region: the ‘CEO of the Year’, awarded to Access Bank’s Group Managing Director and CEO, Mr Herbert Wigwe; ‘Best Bank in Nigeria’ and ‘Corporate Social Responsibility’.
Receiving the award on behalf of the bank at the annual African Banking Awards Dinner in London, United Kingdom, Mr Wigwe thanked the staff of Access Bank, acknowledging their support in achieving the goal of not only becoming one of the Top 3 banks in Nigeria, but also for participating in the firm’s CSR activities that have touched the lives of thousands of Nigerians.
“We are delighted to receive these prestigious awards. It is a testimonial to the hard work we have done in line with our five-year strategy to become the world’s most respected African Bank,” Mr Wigwe, who was obviously elated, said at the occasion.
Furthermore, he said, “2016 has been a remarkable year for the Bank as we continue to receive both regional and international acclaim.
“I am extremely proud to be part of a profitable institution that is committed to delivering sustainable economic growth that is profitable, environmentally responsible and socially relevant. We have reaffirmed our status as innovative industry pioneers equipped to help our customers take tomorrow today.”
Commenting on Access Bank’s impressive streak, EMEA Finance CEO, Mr Christopher Moore, said that, “A repeat winner of our Best Bank in Nigeria award, Access Bank has become a Nigerian powerhouse, and one of the premier financial institutions in the country.
“Generating steep increases in revenues and profit growth over the past several years is no small feat, particularly with strong negative macroeconomic headwinds.”
The hat-trick comes after two recent big wins at the Business Day Awards where the Bank was named ‘Bank of the Year’ and Access Bank’s Group Managing Director and Chief Executive Officer, Mr Herbert Wigwe was also crowned ‘Bank CEO of the Year’.
“We are delighted to recognise Wigwe as our CEO of the Year in our African Banking Awards 2016 awards package,” Moore said. “Leadership requires ambition, and Wigwe possesses this quality and much more. His years of dedication and commitment to the development of Access Bank have helped it to attract over 8 million customers, to complete complex and strategically important financings, and to create an international presence,” he added.
EMEA Finance is a leading bi-monthly global industry publication that reports on the major financial events and happenings initiated and influenced by the international financial industry active in Europe, Middle East and Africa.
Mr Wigwe led Access Bank’s efforts to incorporate sustainability across all aspects of the bank’s activities. In doing so, he also moved the entire sector forward, and now all of Nigeria’s banks, including the Central Bank of Nigeria, have adopted what is known as the Nigerian Sustainable Banking Principles.
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.
By Aduragbemi Omiyale
In recognition of its unwavering commitment to fostering access to financing for Nigerian micro, small and medium enterprises (MSMEs), Development Bank of Nigeria Plc has been rewarded with the Financial Inclusion Leadership Award at the Champions of Inclusion Nigeria Financial Inclusion Awards.
This was at the 2024 International Financial Inclusion Conference (IFIC) organised by the Central Bank of Nigeria (CBN) in collaboration with the World Bank and other stakeholders.
The chief executive of the lender, Mr Tony Okpanachi, said the recognition affirms the company’s efforts in expanding access to financial services for MSMEs in Nigeria.
“We are honoured to receive the Financial Inclusion Leadership Award, which is a testament to our bank’s commitment to expanding access to financial services for all Nigerians. This award recognises our efforts to bridge the financial inclusion gap, particularly for a priority sector like the MSMEs.
“Additionally, this award is a validation of our strategic focus on driving financial inclusion for small businesses, and we are proud to be at the forefront of this initiative that drives that. We will continue to innovate and expand our financial inclusion programmes, ensuring that more Nigerian small and startup businesses have access to services,” he stated.
On his part, the Chief Operating Officer of DBN, Mr Bonaventure Okhaimo, said the accolade demonstrates the firm’s dedication to driving financial inclusion and economic growth in Nigeria.
“This award acknowledges our Bank’s innovative approach to widening opportunities for MSMEs in Nigeria to grow and scale their businesses,” he said.
“This award will motivate us to continue pushing the boundaries of financial inclusion, exploring more innovative solutions and partnerships to expand our reach and impact.
“We are committed to ensuring that more small businesses and startup enterprises in Nigeria have access to financial services, this award will further inspire us to accelerate our efforts in this regard,” he stated.
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