Banking
Sahara Group Urges Sustained Global Partnerships
By Dipo Olowookere
Executive Director of Sahara Group, Mr Tonye Cole, has said that achieving the 2030 target for the Sustainable Development Goals (SDGs) will require strategic and continuing multi-sectoral collaboration across the globe.
Officially branded ‘Transforming our world: the 2030 Agenda for Sustainable Development,’ the SDGs is a set of 17 aspirational ‘Global Goals’ with 169 targets between them.
The goals include: ending poverty and hunger, improving health and education, making cities more sustainable, combating climate change, and protecting oceans and forests. The SDGs document was adopted at the UN Sustainable Development Summit September 25–27, 2015 in New York, USA.
Mr Cole, who is also co-founder of Sahara, a leading African Power and Energy Conglomerate, said the SDGs platform had since become a veritable tool for addressing critical developmental issues globally.
“Going by available records, a significant success trend is emerging and it is great to see unfolding collaboration amongst several stakeholders on interventions being midwifed by the United Nations and its affiliates. It is imperative for governments, private sector, NGOs, international development agencies and global civil society to work together in a sustainable manner to ensure the targets of the SDGs are achieved by 2030.”
He noted that Sahara Group has implemented sundry SDGs compliant interventions and is currently supporting several partnership platforms that are setting the tone for accelerating the achievement of the SDGs across the globe.
Sahara Group and the SDGs
Goal 1: End poverty in all its forms everywhere
Sahara has empowered people of varied of orientation through its economic empowerment initiatives across the nation.
Goal 2: End hunger, achieve food security and improved nutrition and promote sustainable agriculture
The Food Africa Project: A very first of its kind, this is the product of a partnership involving Sahara Group, the United Nations Sustainable Development Goals- Fund (SDG-F) and the Kaduna State Government aimed at empowering the people of Kaduna State and alleviating poverty through food security. The plan is to replicate this across Africa.
Goal 3: Ensure healthy lives and promote well-being for all at all ages
Sahara has upgraded primary health centers across Nigeria, and carried out eye surgeries, malaria and health awareness programmes.
Goal 4: Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all
Sahara has implemented several Teacher training programmes, school infrastructure upgrades and scholarship programmes for indigent students.
Goal 5: Achieve gender equality and empower all women and girls
Sahara is involved in skills training programmes to equip women and young girls with skills in selected vocations and empower them to become masters of skills, more financially independent and eventually start businesses of their own
Goal 6: Ensure availability and sustainable management of water and sanitation for all
Through the provision of mechanized water systems and hand pump boreholes Sahara has created access to potable water in rural communities, and through collaboration with WATER has eradicated guinea worm disease across West Africa.
Goal 7: Ensure access to affordable, reliable, sustainable and modern energy for all
Sahara has encouraged the development of alternative sources of energy through partnership with ENACTUS and youths in institutions of higher learning in Nigeria. Sahara plans to replicate this model across other locations in Africa.
Goal 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Sahara Group’s ‘School Feeding Programme’ has provided employment and considerable financial independence for farmers, caterers and traders within the beneficiary communities
Goal 16: Peace, Justice and Strong Institutions
Sahara Group is spearheading a growing wave of transparency and good governance principles across Africa’s business space through its membership of the World Economic Forum community – Partnering Against Corruption Initiative (PACI). Sahara collaborates with global, regional and national organisations to promote sustainable development and transparency in business.
Goal 17: Strengthen the means of implementation and revitalize the global partnership for sustainable development
Sahara Group and other partners hope to integrate the entire food value chain – the farmer, wholesaler, retailer and consumer- through the Food Africa Project. This will facilitate a sustainable source of food security, poverty alleviation and eradication, skill acquisition and social inclusiveness. The Food Africa project aims to impact at least 500,000 beneficiaries (30% direct beneficiaries and 70% indirect beneficiaries) providing families with better nutrition and livelihood opportunities over a five year period.
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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