Banking
Heritage Bank Woos Golfers at Ikoyi Club 38
By Dipo Olowookere
A monthly mugs competition of the Ikoyi Club 38 in Lagos has received a huge boost with the sponsorship of the event by Heritage Bank Plc.
The tournament is played by members only and at the end, gifts, in form of mugs, are given to winners.
MD/CEO of Heritage Bank, Mr Ifie Sekibo, explained that the bank partnered the club because “we needed to pitch our tent where it matters, needed to be visible and to put our footprint in the sands of time.”
Mr Sekibo, represented at the last event by the Regional Head, Lagos Island 2 of Heritage Bank, Abiodun Agbaje, remarked that while the lender could not do everything at the same time, it was specifically looking at some events that are educative and have high calibre of people to deal with, adding that as a bank, they need to grow their business base with the kind of people that are at the event, who are high-calibre business people.
He said the event was one where a lot of business people gathered together in one place at the same time, stressing that Heritage Bank’s purpose is to create, preserve and transfer wealth across generations.
Also speaking, CEO of Resource Churchill, Mr Joe Oduah, one of the players who contested in the competition, described the mug competition as a medal play, which meant that the player with the lowest net emerged the overall winner and entitled him to a mug and a special parking slot in the car park of the club.
Mr Oduah, who also doubles as CEO of 3M, a safety equipment stockist and service centre and who has been playing in the tournament for about 10 years and won on several occasions, said generally, it is an interesting tournament that brings all the amateurs players together to compete against one another.
In his contribution, Mr Fabian Kenni, manager of the Golf Section of the Ikoyi Club 38, said the monthly mug competition is a tradition in golf worldwide and is usually done every month, either the first Saturday or the last Saturday of the month.
He said only amateur members who registered when the portal is opened are eligible to play and it is based on handicaps, which is the rating level of the players.
He said handicap starts from one to 28 for men and there are two categories. Category one is from handicap one to 13 while category two is from handicap 14 to 28.
Each category produces two winners, that is, a winner and a runner-up, making a total of four winners every month and each of them are presented with mugs.
Mr M. Walsh emerged the overall net winner of the October mug competition with 81- (12)=69 and was awarded a mug and also be entitled to park his car in a special slot in the car park of the park for this month.
In the division one, Walsh won with 81- (12)= 69, followed by Mr C.E.O. Ekeocha with 79 – (08)=71 as first runner-up, while in the division two, Macaulay Magnus came first with 91- (21)= 70 and Mr K. Aderibigbe was first runner-up with 88- (15)=73. The other winners were only awarded with mugs respectively.
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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