Banking
Keystone Bank Teaches MSMEs Ways to Explore AfCFTA
By Modupe Gbadeyanka
Some entrepreneurs in the micro, small and medium enterprises (MSMEs) in Nigeria have been equipped with the basic skills they could use to explore the African Continental Free Trade Area (AfCFTA).
The small business owners were trained recently by Keystone Bank Limited at a 3-day MSME Masterclass Webinar series themed Taking Your SME Business Across Borders held from June 15 to 17, 2021.
The programme was part of Keystone Bank’s unflinching efforts to continue to support the sector of the economy and empower start-ups with the requisite knowledge about the AfCFTA window and the opportunities it presents to their businesses.
With over 600 participants and 200 registered MSMEs in attendance, the numerous testimonials from participants at the highly engaging, interactive and exciting webinar sessions proved how timely the training was and the need it addressed.
The sessions touched on practical issues relating to international trade with a focus on export transactions. The faculty consisted of subject matter experts with vast knowledge on the topic.
The AfCFTA is a free trade area, outlined in the African Continental Free Trade Agreement among 54 of the 55 African Union nations. AfCFTA is the largest in the world in terms of participating countries since the formation of the World Trade Organization. The agreement requires members to remove tariffs from 90% of goods, allowing free access to commodities, goods, and services across the continent.
Dr Emeka Osuji, an associate professor of economics at the Pan-Atlantic University, who also attended the Advanced Management Programmes at Harvard Business School and Wharton School of the University of Pennsylvania, U.S.A, cracked the mystery around the AfCFTA act and the opportunities for MSMEs to trade freely within Africa.
Other speakers at the masterclass sessions were Somtochi Okwuadigbo, the head of Trade Services at Keystone Bank, and Glory Enyinnaya, an internationally certified management consultant.
While Okwuadigbo shared intricate details on international trade payment methods and the available forex windows which can be explored by SMEs for international trade transactions, Enyinnaya delved deeper into the subject of how SMEs can launch an internationally accepted brand for their small business, and ways to ensure a smooth entry into international markets.
According to speakers, “Small businesses in Nigeria contribute about 50% to Nigeria’s GDP, however, most of them are still unacquainted with the AfCFTA agreement and its benefits.
“The wide opportunities it promises through the newly formed market of 55 nations, 1.2 billion people, and an aggregate GDP of up to $6.7 trillion highlights how SMEs can expand and grow their businesses outside the shores of Nigeria.
“Given the current economic realities in the country, there is a rising need for small businesses to seek avenues to expand into new markets by exploring export options,” they divulged.
Commenting on the programme, the divisional head, Retail, Keystone Bank, Mr Anayo Nwosu, reiterated that the bank is committed to ensuring that MSMEs in Nigeria are empowered and equipped with the requisite knowledge to expand their businesses and even delve into new markets in other African economies.
According to him, “Keystone Bank is an SME-centric bank focused on delivering tailored MSME value offerings and that has continually spurred our involvement in programmes like this.
“MSMEs are the bedrock of any economy. But it’s sad that the knowledge gap remains one of the major challenges facing this sector and limiting them from taking advantage of available opportunities such as the AfCFTA window.
“It is in the wake of this rising need, that the Bank hosted the 3-day masterclass webinar.
“Beyond the training, we also provide great support for MSMEs businesses and handhold them to nurture and grow the entrepreneurial ventures”, Nwosu noted.
The Keystone Bank MSME Online Academy was launched in 2020 as part of the bank’s corporate social responsibility (CSR) initiatives tailored to equip MSMEs with the necessary tools and resources required to successfully manage, grow and make their businesses attractive to investors and for profitability.
The lender is one of the financial institutions that have long-running support for the growth and development of small businesses in Nigeria because of the recognition of the critical roles of MSMEs as vital agents of economic development and transformation.
Keystone Bank, a technology and service-driven commercial bank offering convenient and reliable solutions to its customers has a full-fledged SME banking division which over the years, has developed various engagement programmes focused on empowering entrepreneurs.
By Modupe Gbadeyanka
In recognition of its strategic leadership in advancing the growth and resilience of small and medium-sized enterprises (SMEs), Union Bank of Nigeria Plc has been honoured by the Association of Small Business Owners of Nigeria (ASBON).
The lender was rewarded by the group for its suite of solutions designed to enable business expansion and long-term value creation.
At the Nigeria National SME Business Awards, held recently in Lagos, Union Bank was given the Best SME Growth Banking Initiatives Award for 2025.
The ceremony was organised by ASBON in partnership with the Lagos State government through the Ministry of Commerce, Cooperatives, Trade and Investment.
The event convened stakeholders from the public and private sectors to recognise individuals and organisations driving meaningful impact across Nigeria’s SME ecosystem.
Receiving the award on behalf of the bank, its Head of SME Segment, Mr Ayokunnumi Abraham, described the recognition as a strong endorsement of the organisation’s commitment to supporting small and medium-sized businesses.
“We are honoured to receive this recognition, which reflects Union Bank’s continued commitment to helping SMEs grow by making banking simpler, faster, and more accessible.
“Through enhancements to our specialised platforms such as Union360, we have meaningfully reduced the time it takes for businesses to come on board and begin transacting.
“These improvements have shortened onboarding, increased digital adoption among our SME customers, and supported the acquisition of new business clients. Our focus remains on delivering practical solutions that help Nigerian businesses thrive,” he stated.
By Modupe Gbadeyanka
The stellar contributions of Polaris Bank Limited to youth employment, talent development, and workforce empowerment across Nigeria have not gone unnoticed, as the company was recently recognised at an event in Lagos.
At the 2026 Jobberman Partners’ Convening, the financial institution was bestowed with the Private Sector Champion Award.
The award recognises private sector organisations that have demonstrated exceptional commitment and leadership in advancing youth employability through impactful recruitment initiatives, graduate trainee programmes, executive hiring support, candidate assessment programmes, and strategic partnerships that create sustainable career opportunities for young Nigerians.
Themed From Impact to Action: Collectively Designing the Future of Youth Employment in Nigeria, the convening focused on fostering collaboration between the private sector and other stakeholders to expand access to meaningful employment opportunities and equip young Nigerians with the skills and opportunities required to succeed in an evolving economy.
On the recognition, Jobberman commended Polaris Bank for consistently going beyond transactional partnerships to deliver measurable impact within Nigeria’s employment ecosystem. The renowned recruitment firm described Polaris Bank as a credible and purpose-driven institution committed to advancing youth employability and supporting the future of work in Nigeria.
The Head of Talent Management at Polaris Bank, Ms Cynthia Sanyaolu, reaffirmed the lender’s commitment to empowering young Nigerians and strengthening the nation’s workforce through strategic people-focused initiatives designed to create long-term economic and social impact.
“This recognition reflects Polaris Bank’s unwavering belief in the potential of the Nigerian youths and our commitment to building platforms that enable them to thrive professionally and economically.
“At Polaris Bank, we see talent development and youth empowerment as critical drivers of national growth and sustainable development,” she stated.
Over the years, Polaris Bank has continued to invest in initiatives that promote learning, career growth, workforce inclusion, and economic empowerment.
Through strategic Graduate Trainee recruitment programmes via its flagship Polaris Graduate Intensive Training (PGIT) and Polaris Tech Ignite Training (TechIGNITE), among other talent development initiatives, and collaborative partnerships, the bank remains committed to supporting the next generation of Nigerian professionals while contributing to national development.
By Aduragbemi Omiyale
Plans are underway by Ecobank Transnational Incorporated (ETI) to approach the international debt market for a capital raise.
The parent company of the Ecobank Group intends to use proceeds from the proposed exercise to refinance “the concurrent any-and-all tender offer of the ETI $350 million 8.750 per cent tier 2 notes due June 2031.”
However, the issuance of the notes is subject to prevailing market conditions and the conclusion of the necessary transaction documentation, a statement signed by the organisation’s chief financial officer, Mr Ayo Adepoju, stressed.
After issuance, the debt instrument may be listed on the London Stock Exchange, with the expectation that the bonds will be traded on its regulated market.
Ecobank noted that it would allocate an amount equivalent to the full net proceeds of the issue of the notes to finance or refinance, in part or in full, new and/or existing eligible assets as described in its Green Bond Framework (Ecobank-Sustainability), as amended and supplemented from time to time.
Ecobank, which has banking operations in 34 countries in Africa, is listed on the Nigerian Exchange (NGX) Limited, the Ghana Stock Exchange and the Bourse Régionale des Valeurs Mobilières (Stock Exchanges).
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