Banking
Diamond Bank, Facebook Train 120 Female SME Owners
By Dipo Olowookere
More than 120 female business owners in Calabar, Cross River State were recently trained by Diamond Bank in partnership with Facebook.
The event was the commencement of the first phase of training targeted at Small and Medium-scale Enterprises (SME) owners to enhance their businesses through online marketing platforms.
The training exercise is aimed at scaling up the skills of small businesses to cater to millions of Facebook users in Nigeria and beyond.
Head, Regional Businesses -South, Diamond Bank Plc, Nkem Okoro, told newsmen at the event that the training is in collaboration with SheLeads Africa, a representative of Facebook.
“As one of the fastest growing retail banks in the country, Diamond Bank is always at the forefront of leveraging technology to drive SME businesses.
“The idea behind the training is to give our SME customers an opportunity to merge their personal and business Facebook accounts.
“There are over two billion people on Facebook and with that, our customers will be able to showcase their products to this large population as well as get leads that will take their businesses forward.
“We have over 120 SME customers that are participating in today’s event and we intend to actualise our promise to provide them financial and non-financial services. We provide such non-financial services knowing that when our customers succeed it will trickle down to us,” said Okoro.
Head, Emerging Businesses, Diamond Bank Plc, Ayodele Olojede, said the Bank recognised that access to market was a limiting factor in doing business, adding that, “We also recognise the contributing factor of women in the growth of GDP. It is therefore important to continue to support them to scale up and improve their productivity.
“What we are doing today is to teach them how to create and monetise their online visibility. Just by being on Facebook, you can increase your sales by over 33 per cent and a lot of women are not aware of this.
“Facebook is already a market for 26 million Nigerians and yet business owners are unaware. That is the reason for this training- to support businesses to grow. This is one of the first series across the country and we are planning to reach between 10, 000 and 20, 000 customers nationwide.”
One of the participants, Ruth Ntekim, owner of a luxury perfume store in Calabar, said, “I have learnt how to market products online by locating my audience and giving them direct information. Sometimes when you go on Facebook, you do not give the specific details to be able to attract the required audience, I have learnt how to restructure and how to create the right profile.”
Pastor Peace Ogar, also a business woman, said she runs a boutique in Calabar which has presence online. “I am here to learn and of course you can’t get tired of learning. There is no knowledge that is useless, so I am here to learn.
“I have learnt how to give my business social media presence, and how to reach out to my audience, how to create content for my business, and have a target audience. To be honest with you, I have been on Facebook just posting pictures, relating with people, and I have never thought of how to reach out to people businesswise.
“But today I have learnt how to reach out to people businesswise, how to use insight, and how to get people to relate to you. Today, I have learnt that you can reach out to people, and then get feedback from them,” Ogar said.
Diamond Bank Plc is Nigeria’s lead driver in the financial industry, providing enhanced customer experience through innovation and technology. Regarded as supporter of Small and Medium-Scale Enterprises through SME lending, capacity building, business seminars and workshops. Its mobile banking app, “Diamond Mobile”, currently has over three million active subscribers on its platform.
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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