Banking
Chain Reactions Nigeria Emerges Best Reputation Management Consulting Firm in West Africa
By Dipo Olowookere
One of Nigeria’s leading Public Relations and Integrated Communications consulting firms, Chain Reactions Nigeria, has emerged as the ‘Best Reputation Management Consulting Firm in West Africa.’
The keenly contested Gold Category, which had two leading Ghanaian agencies, Insel Communications Ltd and GMA Communications Inc, was conferred on Chain Reactions Nigeria at the 7th edition of the Nigeria Brand Awards 2017 organised by International Brand Award Nominees and held in Lagos on Thursday.
Chain Reactions Nigeria is the country’s exclusive affiliate and preferred West African partner of Edelman, the world’s largest global communications marketing firm with presence in 65 countries across the globe.
Thursday’s award acknowledged Chain Reactions’ unrivalled high level competence in cutting edge strategic communications and reputation management services provided for array of leading public and private sector clients across telecommunications, industrial technology, banking, oil and gas, FMCG and tourism amongst others.
Managing Director/Chief Strategist of Chain Reactions Nigeria, Mr Israel Jaiye Opayemi, who received the award, said it was a testament of the firm’s commitment to excellence, professionalism and dedication to consistent delivery of audacious integrated communications solutions that set our clients apart in their industries.
“We are glad that Chain Reactions Nigeria has been recognised among those pushing the frontiers of cutting edge public relations and reputation management practice in West Africa.
“It brings us a level of satisfaction because we’ve consistently worked on improving our human capital, approach to briefs and service delivery.
“The results of our efforts are becoming more apparent. I am also delighted that Edelman’s confidence in appointing us as its preferred West Africa partner company was not misplaced,” the respected image maker said.
Mr Opayemi added that, “Our competitive edge is embedded in our core values, which are expressed in our can-do spirit; and our confidence and passion in handling our clients’ communication challenges.
“We are not an agency; we are a consulting firm. We are specialists, who always apply the finest traditions and trends of the practice in solving clients’ problems and helping them reach their business objectives.”
One of the most prominent campaigns Chain Reactions Nigeria has managed since the start of 2017 was the PR-led brand migration of Etisalat Nigeria to 9mobile.
The brand migration which has been widely acknowledged as unprecedented, resulted in the successful rebranding of former Etisalat Nigeria to 9mobile in less than three weeks after the telco’s foreign partners, Emirates Telecommunications Corporations and Mubadala Development Company, both of United Arab Emirates exited from Nigeria.
Another significant campaign was the international girl-child education advocacy campaign by ONE Campaign to draw attention to the plight of 130 million out-of-school girls around the world.
In managing the celebrity power campaign along with other PR firms in different parts of the world, Chain Reactions Nigeria leveraged the voice of Bono, Malala, Angelique Kidjo, David Oyelowo, Omotola Jalade Ekeinde, Desmond Elliot and Waje, to call on world leaders to tackle poverty by addressing gender inequality. Nigeria emerged the world’s second best country with most impactful campaign.
Chain Reactions Nigeria manages high profile the PR accounts of leading global and International brands such as 9 Mobile, HP, Motorola, GE, Dubai Tourism, Arla Foods, Ministry of Mines and Steel Development amongst others.
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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