Banking
Five Win in Heritage Bank’s YNSPYRE, CREAM Platform Promo
By Modupe Gbadeyanka
Five fresh winners have emerged in the monthly draw organised by Heritage Bank and CREAM Platform under the YNSPYRE Initiative.
The event took place last Friday in Abuja in the presence of officials of the financial institution and the premiere creative reward platform in Nigeria.
The Heritage Bank’s YNSPYRE Initiative rewards subscribers who dial the *745*463# code with lots of cash and other prizes.
The winners went home with N200,000 each, while a popular artiste in the country, Mr Oladapo Oyebanjo, otherwise known as D’Banj, promised to fully support their businesses and passion.
Some of those that won at the digital draw such as Blessing (an entrepreneur), Justice Isaac Precious (a footballer and musician) and John (a caterer) expressed joy for emerging winners.
Recall that recently, Heritage Bank doled out N1 million to one Damilola Adeyemi, a winner of an online giveaway competition to celebrate the bank’s product, YNSPYRE, ambassador, D’Banj, which heralded the launching of the YNSPYRE Account.
The CREAM Platform is chaired by D’Banj, who was physically present at the event. Others were the Heritage Bank Regional Executive, Abuja and North, Mr George Okoh-Oboh; popular Nollywood actress, Tonto Dikeh; popular musician, Mr Easi (real name Isaiah Ediae) and other top officials of the bank.
In his remarks, Mr Okoh-Oboh described the partnership between Heritage Bank and CREAM Platform as a game-changer for the creative industry in Nigeria.
“It’s been a smooth journey and the Bank has also set aside certain funds for the creative industry because we believe that is needed to support our youths.
“And so what we have done is to be able to put this out there so that we can select very talented youths working with D’Banj and once they meet certain criteria, we will be able to lend across to them as a bank.
“So, the funds have already been set out and waiting this launch which we are having today. So it’s quite an interesting story for the bank and it’s a great day for us today,” he said.
On his part, D’Banj said that the CREAM Platform has built a strong reputation for producing some of the brightest talents in the country over the last couple of years.
He explained that the purpose of the platform was to have a creative hub for Africa where people can upload their contents, be discovered and get funding support from Heritage Bank.
He said the platform would enable Nigerians to discover their talents in areas such as entertainment, entrepreneurship, music, arts and other areas in the creative industry value chain.
D’Banj expressed optimism that the creative industry if properly harnessed, has the potentials to reduce the level of unemployment in the country, boost wealth creation for the people and help the country generate the much needed foreign exchange.
He noted that with the creative industry accounting for one of the highest exports from Nigeria, the time has come for operators in the sector to be supported with the finances.
“This year will make it five years that the platform was launched and our main aim is to create a gateway to the creative hub of Africa. With so much talent in the country and the hub in the continent, we saw it as a platform for people to have that access to become whatsoever they desire.
“And it’s no news that Heritage Bank is our partner to provide the access and financial help that you will need,” the music act said.
“The creative industry is one of the biggest exports in the last three years now whether you are looking at music, fashion, movies. But we need that financial help, that financial backing.
“So, for a long time, we have been discussing with Heritage Bank to see how we can get the funds and get that help to the people.
“And today is going to be the first time that we are actually rewarding the customers. Heritage Bank went further to help us create the ‘YNSPYRE’ Product.
“This product is for the youths and the creative industry to help ease access to funding contents uploaded on the CREAM Platform,” he added.
In her comments, Ms Dikeh urged D’Banj and the bank to create more awareness about the product to enable many people to take advantage of the initiative.
She said as an advocate of youth empowerment, the initiative would help to harness the potentials of the youths and stimulate the much-needed development of the creative industry.
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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