Banking
Stanbic IBTC, LSETF Engage SMEs on Financial Planning
By Modupe Gbadeyanka
A partnership aimed to put Small and Medium-Sized Enterprises (SMEs) through a series of financial planning sessions has been entered into between Stanbic IBTC Holdings and the Lagos State Employment Trust Fund (LSETF).
The sessions, tagged Managing Your Finances, will benefit small business owners in the state as it will enhance their knowledge in the areas of wealth creation, and improved business management and financial management skills.
This is part of the regular financial planning sessions Stanbic IBTC, a member of Standard Bank Group, put in place to support individuals, entrepreneurs and business managers in personal and corporate finance.
The CEO of Stanbic IBTC, Mr Demola Sogunle, disclosed that the collaboration between his company and the LSETF reflected the financial institution’s commitment to the growth and development of Nigerians and the economy.
As he commended the LSETF for the promotion of entrepreneurship through improved access to finance, strengthened institutional capacity of SMEs and policies formulated to improve the business environment in Lagos State, Dr Sogunle assured the LSETF of Stanbic IBTC’s resolute support in the development of SMEs in Nigeria.
According to Mr Sogunle, “This partnership is crucial because we will be taking beneficiaries through our highly specialised financial planning sessions where they will gain knowledge in different areas of financial management.
“We hope that the insights from this engagement will accelerate their entrepreneurial growth and empower them with the requisite financial knowledge to thrive in life and business.
“Stanbic IBTC embraces the opportunity to contribute to achieving the global sustainable development goals, amongst which are: reduction in the levels of poverty and hunger, economic growth and reduction in inequality.”
The partnership has, not only supported entrepreneurs and business owners but contributed to the achievement of the United Nations-backed Sustainable Development Goals (SDGs).
Stanbic IBTC Holdings is an end-to-end financial services organisation and a part of the over 155-year old Standard Bank Group and is committed to enabling dreams and driving growth in Nigeria and across the African continent.
By Modupe Gbadeyanka
The International Banker has announced the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dr Ebenezer Onyeagwu, as the Best Banking CEO of the Year in Africa.
Published by Finance Publishing Limited, the International Banker is a leading global source of authoritative analysis and opinion on banking, finance and world affairs. Its influence, integrity, accuracy and objective opinion have earned it global recognition.
In its International Banker 2023 Banking Awards, published in the Spring 2023 issue of the International Banker Magazine, Mr Onyeagwu was honoured alongside other individuals and banks from the Middle East and Africa.
The Nigerian banker, while commenting on the honour bestowed on him, said the award “reflects the bank’s position as a leading financial institution in Nigeria and the African continent.”
“It also attests to our commitment to principles of sustainability and high ethical standards, which have become integral to our overall strategy as an institution,” he added.
Mr Onyeagwu dedicated it to the founder and Chairman of Zenith Bank, Mr Jim Ovia, for his guidance and mentorship.
He also dedicated the award to the bank’s management team and staff for being the shoulder upon which his achievements and success as CEO rests, and the bank’s customers for making Zenith Bank their bank of choice.
This latest award is coming barely three months after he was conferred with a Doctorate Degree in Business Administration by the University of Nigeria, Nsukka.
The degree was in recognition of his immense achievements as the head of Zenith Bank as well as his contributions to the growth of the financial services sector in Nigeria and across the African continent.
Mr Onyeagwu’s outstanding career has led to him receiving multiple awards, including Bank CEO of the Year (2019) by Champion Newspaper, Bank CEO of the Year (2020, 2021 & 2022) by BusinessDay Newspaper, CEO of the Year (2020 and 2021) – SERAS Awards, and CEO of the Year (2022) – Leadership Newspaper.
As the GMD of Zenith Bank, he has led the tier-one lender to achieve tremendous feats and milestones in financial performance, including 47 per cent growth in the bank’s market capitalisation in four years, financial inclusion, corporate governance and sustainability.
By Modupe Gbadeyanka
For adhering to global best practices and institutionalising corporate governance, Zenith Bank Plc against been announced as the Best Corporate Governance Financial Services in Africa.
This is the fourth consecutive year the financial institution is running away with the award, setting an industry-wide example of best practices in corporate governance on the continent.
The lender was bestowed with this recognition by the Ethical Boardroom in the Spring 2023 edition of its magazine.
Ethical Boardroom is a trailblazing and leading international magazine that delivers in-depth coverage and critically-astute analysis of global corporate governance issues to help boards stay ahead of the governance curve.
The chief executive of Zenith Bank, Mr Ebenezer Onyeagwu, dedicated the award to the company’s founder and Chairman, Mr Jim Ovia, for providing the template for an enduring and very successful institution.
He also dedicated it to the board for their vision and outstanding leadership, the staff for their dedication and commitment, and the bank’s customers for their unwavering loyalty to the brand.
“I am extremely pleased that Zenith Bank has been awarded the Ethical Boardroom Corporate Governance Award as a regional governance champion for the fourth year.
“No doubt, the bank’s board has pioneered the exemplary governance culture for which we are now renowned. Indeed, this recognition reflects our steadfast commitment, discipline and high ethos in the conduct of our business and dedication to the principles of good corporate governance.
“This award will motivate us to strengthen this culture internally and advocate for good governance at every forum,” Mr Onyeagwu said.
Zenith Bank has been generally adjudged a Corporate Governance compliant bank by the Nigerian Exchange (NGX) hence its listing on the Premium Board of the Exchange.
The firm continues to sustain this reputation and reappraise its processes to ensure that its business always conforms to the highest global standards.
Its track record of excellent performances has continued to earn it numerous awards, including being recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the 13th consecutive year, in the 2022 Top 1000 World Banks Ranking published by The Banker Magazine; Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020 and 2022; Best Bank in Nigeria, for three consecutive years from 2020 to 2022, in the Global Finance World’s Best Banks Awards; Best Commercial Bank, Nigeria 2021 and 2022 in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022; Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards. Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, and Retail Bank of the year, for three consecutive years from 2020 to 2022, at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. Similarly, Zenith Bank was named as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.
By Dipo Olowookere
Wema Bank Plc has been praised by small business owners in Edo State for equipping them with the skills needed to scale up their operations.
Between May 22 and 26, 2023, the financial institution trained 250 participants on business management skills, entrepreneurial knowledge, and financial and marketing management skills to boost the success of Small and Medium Enterprises (SMEs) in the South-South region of the country.
The workshop, organised under the Wema Bank SME Business School, was the fifth edition held at the Uyi Grand Event Centre, Benin City, the state capital, and comprised SME customers and non-customers.
One of the beneficiaries, Ms Edith Igabali, commended Wema Bank for the knowledge-laden seminar which has broadened her perspective on SME management.
“Wema Bank is trying for me; they have made me what I am today. The session was power packed, fun, and educative,” she said.
Another participant and SME owner, Ms Love Onobrakpor, expressed gratitude to the bank for the highly impactful programme, adding that she had no regrets about taking time off work to attend the one-week session. “It was interesting and highly interactive, well worth it,” she stated.
For Ms Precious Izedonmi, she said, “I have been greatly impacted, and I am grateful for the privilege; it can never be trivialized.”
The Head of SME Banking at Wema Bank, Mr Arthur Nkemeh, after the session, expressed his appreciation to “our partners and every facilitator for the session and most importantly our customers who trust us to give them excellent financial services.”
“We will continue to offer superior customer service to our customers with business facilities and advisory services that will help scale up their business; this is one of the many offers to come from Wema Bank,” he said.
The Wema Bank SME Business School was launched in Lagos in 2021 to boost the capacity and skills of SMEs to help them achieve their business objectives.
The second edition took place virtually, while the third and fourth editions happened in Abuja and Port Harcourt, respectively.
The Edo State edition had a very rich and relevant curriculum that directly addressed the issues within the Nigerian SME sector.
The faculty and facilitators also comprised experienced and highly knowledgeable experts in various fields who made the training not only worth the while but beneficial in terms of knowledge gained and new insights revealed about SME management.
The curriculum included a macroeconomic review of the Nigerian economy, business strategy formulation and execution, sales and marketing, customer experience value management, financial management, sustainability, leadership, communication and people management.
