Banking
ICA Honours Two Heritage Bank Senior Executives, Others
By Dipo Olowookere
Two senior management executives of Heritage Bank Plc were at the weekend conferred distinguished awards by the Institute of Credit Administration (ICA) at the Nigeria Credit Industry Awards and Postgraduate School of Credit and Financial Management (PSCFM) graduation ceremony.
The awardees were Mr Jude Monye, an executive director of the bank who was awarded Credit Management Director of the Year and Mrs Chinwe Ofulue, Regional Head who was recognised as Credit Relationship Director of the Year.
Besides this, Messrs Obioma Emenike, Group Head, Market Strategy, Heritage Bank; Imomoemi Ibisiki, Group Head, Legal Services, Heritage Bank were inducted as Fellows of ICA, Lilian Oyinlonye Agada, Head, Marketing/Team Lead, Commercial Banking, was inducted as Member, while Blaise Udunze, Media Relationship Officer of the bank, was inducted as an Associate of the institute.
Commenting on the honour bestowed on the team, Mr Monye, who also badged a Ph.D. in Credit Management, expressed gratitude for the recognition of the professional body of their commitment to efficient credit management in Heritage Bank.
According to him, the management at Heritage Bank does and will not go for anything less than premium service delivery for its teeming customers, who cut across different sectors of the aggregate economy.
Mr Monye stated that the quality of banking and financial services that customers of Heritage bank are enjoying is second to none when compared to what is available at any other bank in the country.
He therefore used the opportunity to encourage credit managers in different industries not to look anywhere else beyond Heritage Bank for quality and efficient financial services.
“In fact, what happened here today, is attestation to our professionalism and staff commitment to quality and efficient financial services,” he said.
In a keynote address titled, “Ministerial Review of Credit Management in the oil and gas industry in Nigeria;” the Minister of State for Petroleum Resources, Dr Emmanuel Ibe Kachikwu said the importance of effective credit management goes beyond sectors to business and individuals.
The Minister, who was represented by the Chairman of ICA, Dr Adetunji Oyebanji, remarked that the 2008 financial crisis showed how improper credit management in nation’s housing sector, spilled into individual lives of citizens of multiple countries, adding that the credit management performance of the Nigeria’s oil and gas industry has been noteworthy, with numerous projects in the petroleum value chain attaining completion without incidents of liquidity issues.
Mr Kachikwu said the Federal Government has the responsibility of providing the empowering environment for Nigerian credit sources, adding that the focus areas of Short and Medium-Term Priorities to grow Nigeria’s oil and gas industry (tagged #7 BigWins) ranging from policy and regulation to business environment and investment drive to transparency and efficiency were aimed at providing suitable environment for these credit sources to develop.
He noted that it was imperative that credit providers carry out due diligence on prospective borrowers to minimize any credit defaulting issues that could arise further down the road.
Earlier in his address of welcome, the President of ICA, Dr Oyebanji, said the institute has in collaboration with Postgraduate School of Credit and Financial Management (PSCFM) been in the fore front of endeavours geared towards building an enduring credit management culture in Nigeria through professional and academic development programmes leading to the award of degrees and certificates by accredited foreign universities.
“In driving this vision, PSCFM has built alliances with credible foreign institutions such as the London Postgraduate Credit Management College (LPMC), a renowned ASIC accredited UK credit management institution for the award of foreign degrees up to PhD level in credit management,” Dr Oyebanji said.
He noted that a sound credit management advocacy remained one of the cardinal projects of ICA and called on conglomerates and blue-chip companies in the country to design policies that ensure quick payment of confirmed invoices from small and medium scale enterprises (SMEs).
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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