Lagos Business School Training Excites South African Bankers

By Dipo Olowookere

South African Investment Bankers have lauded the Lagos Business School for hosting the International Executive Development Programme (IEDP) for the Banking Sector and Training Authority (BANKSETA), which was held in Lagos.

The five-day programme started on Monday, June 19, 2017, and brought together high potential leaders from the investment banking sector in South Africa, immersing them into the best practices of the Nigerian economy, culture and environment.

Mr Thebe Mabiletsa of Absa Capital, South Africa commended the Lagos Business School for hosting them in Nigeria, an experience he said had broadened the delegation’s horizon on the uniqueness of the Nigerian economy and market.

He revealed that Nigerian businesses “have created a niche space in terms of their innovation and expertise which can make them partner favourably with South African banks as well as other banks on the continent.”

Mr Jared Bleak, Lead Professor/Orchestrator, Duke University, said that the key learning from the week-long programme was evident in the prospects for Nigerian banks becoming more international and how they could collaborate with other markets on the continent and even the rest of the world.

“The internationalisation of Nigerian banks is happening, and even the South African groups here have learned from the economy and possibly thinking about partnerships,” he stated.

He commended the Lagos Business School for exposing the team to a fast emerging market on the African continent, as well as the warm reception.

Dr Franklin Ngwu, Senior Lecturer, Strategy, Finance and Risk Management, Lagos Business School, remarked that it was a great feat helping the South African Investment bankers to understudy the Nigerian financial sector to see areas of opportunity, investment and collaboration with the two countries.

“We have exposed them to both the formal and informal aspects of the economy and we envisage a possible cooperation and investment between the two economies,” he said.

CEO of the Nigerian Stock Exchange (NSE), Mr Oscar Onyeama, commended the Lagos Business School for the IEDP initiative.

He stated that opportunities such as this afford the stock exchange an avenue to share relevant information which boosts confidence in the Nigerian capital markets and in turn the Nigerian economy.

Dr Enase Okonedo, Dean, Lagos Business School, expressed appreciation to all organisations that welcomed the LBS/IEDP-BANKSETA participants during their tour for showing support during the programme and wished the South African bankers a safe trip back home.

Some of the activities included visits to the International Centre for Commerce (ICC) Balogun Market, Lagos; NIKE Art Gallery; SLOT Systems Limited; Computer Village, and interactive sessions with Afri Invest, Ecobank and Fintech CEOs (Konga, Venture Garden, Interswitch etc).

Also included in the activities was a visit to the Nigerian Stock Exchange (NSE), where they got an expose into the Nigerian economy, the capital markets and participated in the activities of ringing the closing bell on the NSE trading floor.

The participants were given adequate exposure to the Nigerian economy, culture and environment.

Banking Sector Education and Training Authority (BANKSETA) is a South African statutory body interested in promoting knowledge and skill acquisition in the financial sector.