Banking
Quickteller Paypoint Engages Agents, Promises Support
By Modupe Gbadeyanka
Quickteller Paypoint has said it is co-funding relief programmes to provide personal protection equipment and wares for Quickteller Paypoint Agents across the country.
At a virtual forum held recently, the Divisional CEO of Interswitch Financial Inclusion Services (IFIS), Ms Titilola Shogaolu, explained that this move is to ensure that the agents are in compliance with COVID-19 expert advisory, while rendering services to the public.
Ms Shogaolu further stated that the organisation was also adopting to new channels of communication with our agents to educate them.
She emphasised the relevance of social distancing at a time like this, as well as the importance of cash management, advising the agents to take advantage of the fact that some bank branches may be possibly closed, to diversify their services by having an excellent product mix and exploring the introduction of cash deposit machines.
During the forum organised for the agents under the auspices of Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), Quickteller Paypoint assured of continued support during the ongoing global COVID-19 pandemic.
Expressing her profound gratitude to AMMBAN, Ms Shogaolu commended the association for putting the forum together at a time like this, when the COVID-19 pandemic has disrupted many businesses across the globe.
She reiterated that these are unprecedented times, as the entire world is faced by uncertainties caused by the disease outbreak and as such there is the need to sensitize agents on the possible impact of the pandemic on our services, and the necessary measures to deal with it.
The CEO highlighted the need for smart solutions that expediate digital transactions and processes, adding that, with the lock-down situation in the country, things will no longer be business as usual, hence, the need to constantly innovate and evolve, to meet the changing needs of the ecosystem.
“Quickteller Paypoint is co-funding relief programmes to provide personal protection equipment and wares for Quickteller Paypoint agents, to ensure that they are in compliance with COVID-19 expert advisory, while they render services to the public. We are also adopting to new channels of communication with our Agents to educate them,” she said.
The forum, with the theme The impact of COVID-19 on the Digital Financial Services (DFS) ecosystem in Nigeria, was an initiative of AMMBAN.
The group facilitated a discussion session between Mobile Money Service Providers, Bank Agents and the general public, on precautionary measures to take as essential service providers during the ongoing pandemic as well as trends that are likely to continue after it is defeated.
Speakers at the forum, including Professor Olayinka David West, Information System Specialist and Academic Director at Lagos Business School and Jay Alabra, Co-Founder PagaTech Limited, all unanimously opined that the COVID-19 pandemic has not only changed the world but has also transformed the way transactions are carried out.
In their votes of thanks, Victor Olojo, National President, AMMBAN; Yusuf Adeyemo, National Programme Director and Olawale Tiamiyu, applauded all three speakers for taking time out to join in on the forum to address these pertinent issues.
Interswitch Financial Inclusion Services is an interconnect point and infrastructure for integrating and delivering electronic payment services to the unbanked, under-banked and banked.
The organisation works with financial service providers, merchants, billers, and other organizations that aim to increase their efficiency and outreach, through its network of human service interfaces for secure financial transactions nationwide.
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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