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AdHang Offers To Help Firms With Online Marketing Issues



AdHang Offers To Help Firms With Online Marketing Issues


By Dipo Olowookere

The importance of online marketing at this present time cannot be ignored especially when the whole world is now a global ‘room’ and not a village any longer.

It is no doubt that at the moment, some organisations are still lagging behind in the digital world and this is where the first internet public enlightenment agency in West Africa and a leading online digital marketing agency in Africa’s continent, AdHang, is willing to offer its assistance.

Adhang announced on Saturday that it is now open to help any company, business, event organizer, institution or company carry out online marketing in any country in Africa.

The agency has helped many businesses identified where they are missing online marketing opportunities in Africa since its 10 years of existence.

During the period, institutions such as churches, schools and governments have used AdHang to reach millions of their target audiences across Africa.

This reviews the fact that the agency has well-trained professionals, experienced and seasoned experts in online marketing industry.

Adhang also tactically incorporates tools such as promotional articles, case studies, white papers, testimonies, educative/informative videos, internet press release, online digital banners, bulk emails, online presentations to achieve its results.

In addition, it employs most powerful online platforms both in African locality and international ones to engage any type of personas whether for business to business campaign or iness to consumer marketing.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via


MoniePoint Mulls PayDay Acquisition After Seed Investment




By Adedapo Adesanya

Less than five days after the announcement of leading investment in PayDay, a fast-rising neo-bank, MoniePoint, may be acquiring the 21-month-old startup.

The news, first reported by WeeTracker, said the business banking startup is set to acquire Payday outright in the coming months, according to people familiar with the matter.

It was reported that the deal was negotiated while closing the oversubscribed $3 million seed announced Wednesday.

The series round was led by MoniePoint, which used to be known as TeamApt, with contributions from HoaQ, DFS Lab’s Stellar Africa Fund, Ingressive Capital Fund II and angel investors, including Mr Dare Okoudjou, Founder and CEO of MFS Africa and Mr Tola Onayemi, CEO of Norebase.

The report revealed that Moniepoint and Payday have agreed on broad terms to complete the transaction.

It was also disclosed that they would make it official by the end of Q2 2023, adding that investors and advisors are in the know.

Payday has raised over $5 million since its founding, with Ingressive Capital Fund II, Techstars, HoaQ, etc., among backers who are in line for an exit, a development that boosts Africa’s tech landscape at a time when funding has slowed, and talk of returns has surfaced.

With the $3 million funding it got, it plans on expanding its UK entity and operations off the ground while expanding to North America, with Canada the obvious target.

The company will also grow its talent base by 40 per cent to 50 employees, many of whom will come into its customer success department.

Commenting at that time, Moniepoint’s CEO, Mr Tosin Eniolorunda, said, “At Moniepoint, we’re excited about the unique things Favour and the team are doing with Payday. Personally, I connect deeply with his drive, technical depth, and desire to execute. The urge to encourage that fire inspired us to want to be a part of this.

“More important is the alignment in our goal to provide financial happiness by addressing key payment pain points—Moniepoint with merchants and Payday with individuals. We see a potential to leverage their infrastructure further to deepen our suite of financial services for merchants, and we’re looking forward to all that’s to come.”

On his part, Mr Favour Ori, CEO and Founder of Payday, said, “We’re thrilled that this round of funding will lay the foundation for the continued growth of our platform as we expand our services to a wider audience.”

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Stanbic IBTC Processes First Inbound Commercial Transaction on PAPSS



Stanbic IBTC opens new branch

By Modupe Gbadeyanka

Stanbic IBTC Bank Plc has processed its first inbound commercial transaction on the recently-launched Pan African Payment and Settlement System (PAPSS) in Nigeria.

PAPSS was designed by the African Union and the AfCFTA Secretariat to provide a secure and efficient payment platform for African businesses, promoting intra-African trade and economic integration by facilitating payments and settlements for cross-border transactions within Africa in local currencies.

The transaction carried out by the bank was worth N5 million, according to a statement from the company, and it was for a key corporate client from Ghana Commercial Bank (GCB).

It was stated that the transaction occurred on Friday, March 3, 2023, and the recipient was Chapel Hill Denham, which has expressed satisfaction with the seamless and efficient processing of the PAPSS platform, noting that it has the potential to unlock immense opportunities for African businesses.

“We are delighted to have successfully processed our first inbound commercial transaction on PAPSS. This deal underscores our pledge to provide our clients with efficient and secure payment and settlement solutions that support their growth and expansion across Africa.

“We look forward to leveraging our expertise and the capabilities of PAPSS to enable more African businesses to tap into the opportunities presented by intra-African trade,” the chief executive of Stanbic IBTC Bank, Mr Wole Adeniyi, said.

Also, the Head of Transaction Banking at Stanbic IBTC Bank, Jesuseun Fatoyinbo, expressed confidence in the PAPSS platform, saying, “This is a testament to the effectiveness of PAPSS in facilitating cross-border payments and settlement in a fast, secure, and cost-effective manner.

“We are proud to be at the forefront of this initiative and commend the efforts of Afreximbank and the African Union in developing the PAPSS platform and promoting intra-African trade.”

On his part, the chief executive of PAPSS, Mr Mike Ogbalu III, said, “We are delighted that Stanbic IBTC has completed its first inbound commercial transaction on PAPSS.

“This is a significant step towards achieving our goal of promoting intra-African trade and facilitating cross-border payment and settlement of transactions in African currencies.

“We believe that PAPSS has the potential to revolutionize the way businesses trade and settle transactions in Africa.”

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Parallex Bank Gets $10m to Finance Cross-Border Trades of SMEs



Parallex Bank

By Aduragbemi Omiyale

A trade finance facility worth $10 million has been secured by a Nigerian lender, Parallex Bank Limited, and the funds would be used to support small and medium enterprises (SMEs) involved in cross-border trades.

The money was given to Parallex Bank by Afreximbank as part of its efforts to bridge the financing gap for businesses.

A statement from the Nigerian bank said the $10 million would be used to support other pan-African business opportunities its growing SME segment, as well as for emerging commercial and corporate banking businesses.

In addition, the funds would be used by to facilitate, through on-lending, access to cross-border trade finance for SMEs and to create lines of credit for businesses operating in the agriculture, export industry, health, education and renewable energy sectors.

These would be achieved through Afreximbank’s technical assistance in capacity development and other training programmes geared towards solidifying the relationship between the two institutions.

The chief executive of Parallex Bank, Mr Olufemi Bakre, has described the facility as a testament to the “confidence that Afreximbank has in Parallex Bank.”

“It helps us to materialise our strategy of building ecosystem partnerships to support critical sectors of Nigeria’s economy for growth and development,” Mr Bakre, promising that the bank will “engage in product-based collaborations to increase transaction mileage in specific and strategic segments, such as the creative industry, women-owned and managed businesses, among others.”

On his part, the President and Chairman of the Board of Directors of Afreximbank, Mr Benedict Oramah, explained that the funds were made available to the Nigerian lender to support small business owners on the continent.

“We are pleased to continue to expand the AfTRAF programme across Africa. This financing facility provided to Parallex Bank comes in addition to other trade facilities already in use by our other partner banks in Nigeria and throughout the continent to help bridge the financing gap created by the withdrawal of international correspondent banks,” he remarked.

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