Banking
Heritage Bank Promotes Sustainable Banking Practices
By Modupe Gbadeyanka
Heritage Bank Plc has taken a step further in promoting sustainable banking practices by helping to mitigate hunger by providing for the less privileged and reducing the adverse effect of food insecurity in the country.
The financial institution recently collaborated with Adyva Foods’ project tagged Feed a Kid by feeding no fewer than 500 underprivileged children.
According to the CEO of Adyva Foods, Ms Anyagwa Adanma, the idea of the partnership was to feed over 500 less privileged kids with cooked food and provide them with goody bags containing stationery, and educational materials to mention but a few.
“I will advise parents to ensure they educate their children and teach them the savings culture and financial literacy for future benefits,” she said.
Also, a partner with Adyva’s Feed a Kid project, Ms Nkechi Toluwani, described Heritage Bank as “a supportive bank,” noting that the incentive behind feed a kid is huge, therefore, for Heritage Bank to partner with Adyva Foods to feed kids shows how compassionate, kind, and responsible the bank is to people’s welfare.”
On her part, the Acting Group Head of Corporate Communications of Heritage Bank, Ms Ozena Utulu, said the lender has “continued to put sustainability at the heart of our decision-making for the sake of humanity and the bank’s own bottom line because a healthy planet is the backbone of nearly every industry on earth.”
“Heritage Bank’s partnership in this event offers us an opportunity to fulfil our quota in adherence to the sustainable banking practices that ensure that banks and related institutions have the interest of their stakeholders at the core of their strategies,” she added.
Ms Utulu also advised parents to explore the advantages and utilize the huge benefits the bank’s BUD account hold for their children.
“Access to cash-backed loan by parent/guardian/sponsor for school fees/education loan. You can access up to 70 per cent of your balance held with the bank as cash backed loan.
“The customer must have run the BUD account for a minimum of 6 months to access the cash-backed loan. Ease of saving through standing order instructions; access to exclusive events, free participation in the BUD MINI career mentoring and coaching sessions once a year, and an opportunity to act as a Heritage Bank executive committee member for one day,” she stated.
Statistics show that an average Nigerian lives on less than a dollar per day and this makes it difficult for a lot of families to feed properly. An estimated 2 million children in Nigeria suffer from severe acute malnutrition (SAM).
In an analysis of 91 countries, including Nigeria, the UNICEF report finds that half of the children aged 6-23 months globally are not being fed the minimum recommended number of meals a day. Two-thirds do not consume the minimum number of food groups they need to thrive.
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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