Banking
Diamond Bank to Reward Customers with N600m
By Dipo Olowookere
A whopping N600 million has been set aside by Diamond Bank Plc to reward its loyal customers in the DiamondXtra Season 9 bonanza.
Activities planned for the season include extra ordinary draws that will produce 3164 lucky winners throughout Q3 2017.
According to information made available to the press, the Bank stated that in the months of July, August and September, N137 million will be given out to lucky customers that will emerge from the draws: 8 millionaires in July and September while 24 millionaires will emerge in August as N1 million will be won by a lucky customer every working day plus loads of other cash prizes.
During this period, 3 lucky customers will be rewarded with salary for life and will receive N100,000.00 every month for the next 20 years.
According to Chioma Afe, Head, Corporate Communications Division, Diamond Bank’s passion and commitment to its customers “is driven by the conviction that making them to save and plan for the future is what sustains the growth and development of any economy”.
She stated that DiamondXtra draws have come a long way in impacting the lives of new and existing customers of the Bank that had participated in the promo over the years.
She added that the draw is a unique customer reward scheme tied to the DiamondXtra account, which aims at promoting savings culture among Nigerians by rewarding them for saving.
She said: “In this Season 9, Diamond Bank is set to create more millionaires in Nigeria by empowering them with the resources to change their lives and, also, be active participators in the economy. Twelve customers would be rewarded with salary for life and will earn N100,000.00 for the next twenty years. That is how much we value our customers and help them shape their future”.
According to her, with a deposit balance of only N5,000 (five thousand naira) a customer is qualified to participate in the draw and multiples of that amount increases the customers chances of winning.
The DiamodnXtra initiative was launched in July 2008 and has produced 5,600 winners with a cumulative cash reward of over N4 billion.
The Season 9 edition promises to be more rewarding as the Bank has reaffirmed its commitment to financially empower more Nigerians by spreading the draws across the six geopolitical zones.
According to Afe, beginning from July 13, 2017 to September 30, 2017, every new and existing customer of the Bank who saves a minimum of N5,000 (five thousand naira) will stand the chance to win any of the prizes, which include salary for life, N1m for 31 customers, N500k for 20 customers, N10k for 600 customers, N500 for 400 customers and free recharge cards for 2000 customers.
The Bank has also introduced a new dimension to the reward scheme where customers are rewarded for loyalty. Customers who have maintained their DiamondXtra accounts for 5 years and above and have increased their balances with multiples of N5000 during this period will qualify for a special Longevity draw where 10 customers will receive N1m each while 100 customers will get N100k each.
According to Afe, a customer stands a better chance of winning if he or she saves more as every N5,000.00 in the account of a customer represents one entry ticket into the draws.
“Every DiamondXtra account customer has equal opportunity of winning in the daily transparent electronic draws. We would like to reassure all our loyal customers that Diamond Bank will constantly seek robust platforms like this not just to enrich them but to let them know that we care for their future wellbeing”, she said.
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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