Banking
Ecobank Has Demonstrated Pedigree, Expertise in Fees Collection—Sipe
By Dipo Olowookere
The Head of Marketing and Corporate Communications at Ecobank Nigeria, Mr Jide Sipe, has called on schools to partner with the bank as their preferred financial institution for payments and collections.
Mr Sipe, who was commenting on the lender’s partnership with HerAbility Hub to promote girl-child education, noted that Ecobank has demonstrated pedigree and expertise in fees collection, locally and internationally.
“We have special loan packages for parents and guardians to enable them to pay school fees for their children. Our digital offerings are targeted at reducing the financial burden on parents, students, and schools, and facilitating the ease of payment of fees without hassles.
“The digital offerings include Ecobank Mobile App, EcobankPay and Ecobank Online for contactless fees payment, personal loans and salary advance packages at competitive interest rates, international transfers for offshore school fees payment and affordable remittance offerings.
“Those who have families abroad who wish to send money home to help with fees can do so at zero charges on the Rapidtransfer app. The bank has also provided the Banking-for-School pack for educational institutions to access working capital and loans,” he said.
Recently, in line with its overall strategy to support the development of the nation’s education sector, Ecobank Nigeria threw its full weight behind the Somolu school tour, which was themed Shattering the Glass Ceiling.
The event featured career seminars, empowerment programmes and donations of diverse education materials to schools in Lagos.
According to Mr Sipe, the banking firm supported the event because “the guiding principle of Ecobank’s CSR activities is to contribute to the economic development and financial integration of Africa.”
“Our main focus is to give back and contribute effectively to the societies in which we operate. This partnership follows our recognition of the inherent threat of a weak reading culture in Nigeria and its part of our dedicated efforts on literary advocacy amongst youths,” he added.
The founder of HerAbility Hub, Dr Omoayena Odunbaku, while commending Ecobank for the support, stressed that the success of the tour would nourish the future of many and transcend the borders that hinder the progress and success of the girl-child.
“The school tour was scheduled for four different locations across four days. It was targeted at 1,200 participants including 1,000 students across 19 government secondary schools, desk officers, keynote speakers and resource persons.
“Participation was by representation with a maximum of 50 students (25 male, 25 females) from each of the schools. The schools include Igbobi Junior High School, Morocco Shomolu, St Luke’s Junior Grammar School. CMS, Gbagada Comprehensive school, Bariga, Baptist Junior Grammar School, Obanikoro,” she stated.
Dr Odunbaku explained that HerAbility Hub is a female community platform that provides and integrates career talks channelled towards mentorship of young female secondary school students, film forums that give inspiration and steer critical thinking skills, and girl-child empowerment projects that are complemented with civic engagement lessons.
Further, she stated that HerAbility Hub advocates for girl-child empowerment by disseminating information that promotes the girl child’s sense of self-worth and their ability to determine their own choices, providing them with inspiration to break glass ceilings, motivating them to contribute positively to society, especially in the crucial years of their transition into adulthood and equipping them with the right resources to transcend rigid gender norms that undermine their full potentials.
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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