Banking
CIBN Tasks Ecobank Management Trainees on Integrity
By Aduragbemi Omiyale
The need to uphold integrity has been emphasised by the Registrar/CEO of the Chartered Institute of Bankers of Nigeria (CIBN), Mr ‘Seye Awojobi, to the graduands of Ecobank Nigeria Academy.
The Ecobank management trainees were also charged to imbibe the ethics of the banking profession because it is one of the things they will need to excel in the industry.
“You should really be grateful and count yourself lucky for this platform extended to you by Ecobank to make a life career.
“Know that a career is not an activity but a journey; a marathon, not sprint. Keep a tenacity of purpose; remain focused, be ready for challenges and enhance your skills and knowledge to excel in this profession,” Mr Awojobi said at the virtual graduation of the Ecobank Management Development Programme (EMDP) Batch 3 trainees in Lagos.
He commended Ecobank Nigeria’s various initiatives targeted at building the capacity of its workforce, noting that over the years, the bank has accorded priority to various learning and development initiatives which expose staff to new career development within the banking industry.
“Such competency improvement is important for the banking sector; it aligns with the current dynamics of the industry and global best practice,” he added.
In his remarks, the Managing Director of Ecobank Nigeria, Mr Patrick Akinwuntan, reiterated that the bank’s deliberate policy to train and equip its workforce was in line with its transformation drive to make the financial institution the most preferred in the country.
He admonished the graduands to remain ethical and diligent in the delivery of the vision of the bank to become the most preferred financial services payments brand in Nigeria to support the economic development of households and growth of trade, manufacturing and commerce in Nigeria and Africa.
“My advice to you is to imbibe the values of this great institution. Live the values of Respect, Accountability, Customer Centricity, Integrity, Excellence and Team work as encapsulated in RACEIT.
“Be courageous, rise above fears and do what is right at all times. Be ready to learn and unlearn to reach your envisaged destination.
“To make a difference as a banker, you must have willingness to adapt and take ownership of yourself. Keep your bonding and use it positively not only professionally but in your personal life and be a good Ecobanker at all times,” he stated.
Also speaking, the Group Executive, Human Resources, Yves Mayilamene, represented by Group Head, Talent Learning and Organisational Development, Simon Rey, advised the graduands to always strive for excellence in their respective roles.
While assuring them of the bank’s support to grow in their career, he tasked them on sustainable results.
Welcoming the graduands to the bank, Head, Human Resources, Ecobank Nigeria, Kunle Adewuyi, emphasised that Ecobank is a performance-based organisation, urging them to focus on their job and be result oriented.
“I want all of you to look at the future and decide where you will be in the next five years or so in this great institution. I see future managing directors, Treasurers and others among you. But you have to decide that from today. You must imbibe the culture of the bank and I can assure you that the future is bright,” he added.
The EMDP batch 3 comprises 16 graduates who were trained at the Ecobank Nigeria Academy for 21 months. The EMDP programs develop officers and young graduates to become experts in the financial industry and model citizens of the country.
As of December 2020, 55 graduate trainees and 70 management trainees respectively have been placed in strategic roles across the bank.
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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