Banking
Western Lotto out to Make Nigerians Millionaires—MD
By Dipo Olowookere
Managing Director of Western Lotto Nigeria, Mr Elvis Krivokuca, has disclosed that the newly launched company was entering the Nigerian gaming industry to ensure Nigerians make money while having fun and playing the games.
Mr Krivokuca noted that this would be done by infusing fun and excitement into the lottery experience.
“Our explanation is centred on the nature of lottery as entertainment. Lotteries are number-based games of chance used mainly for entertainment, winning of prize and redistribution of wealth.
“Western Lotto Nigeria offers Nigerians the opportunity to experience and play the famous Power Ball, Euro millions, Euro Jackpot, UK Lotto and Mega Millions games, with a chance of winning a jackpot of N15 million.
“With these brand ambassadors, we are telling Nigerians that lottery is fun and they should enjoy themselves while playing the games,” the lottery firm’s boss said.
Speaking during the launch of Western Lotto Nigeria and the unveiling of its chain of brand ambassadors in Lagos recently, Mr Krivokuca said the choice of entertainers as brand ambassadors affirmed that lottery is entertainment.
The list of ambassadors for the Western Lotto Nigeria brand are Olu Jacobs, Zack Orji, Ramsey Nouah, Alex Usifo, Jide Kosoko, Osita Iheme, 2Face, Olamide and AY.
Added to the entertainment touch, Western Lotto also launched with a mobile application which is a disruption in the Nigerian lottery market.
The company further disclosed that plans were ongoing to add an African and Nigerian- centric game to its offering.
The new game which would be unveiled soon, will add a Nigerian touch to the Western Lotto lottery experience, while the society would benefit from the proceeds.
“Western Lotto is about you. It’s about that boy in Mushin, that girl in Maiduguri, about that madam in Yenagoa. It is 100 percent Nigerian. It’s a Nigerian initiative through and through. Your payments are in Naira. You can play and win in Naira. Western Lotto was set up mainly for two reasons: we want to offer Nigerians the opportunity to win big and also contribute towards good causes.
“We are partnering with organisations that cater for women who have been victims of ràpe. We are going to partner with people that have problem furthering their education.
“Western Lotto will partner with government on health care and sporting foundations. Western Lotto is about Nigeria: it’s our game. Let’s embrace it,” said Director of Western Lotto Nigeria, Mr Biodun Akintaju.
”We have decided to start from the known to the unknown: Power Ball, Euro millions, Euro Jackpot, UK Lotto, Mega Millions are all established games.
“We will allow Nigerians the opportunity of playing and winning in Naira. In the not too distant future, we are going to have a pan-African wholly run, played and payment made in Naira,” he added.
Speaking on the impact of lottery in a modern society, Veteran actor, Olu Jacobs, pointed out that it would help correct some social ills in Nigeria.
“Many things have gone wrong in Nigeria. It’s nice to have Lotto ease the pressure. Most of us have played lotto all over the world.
“I have some friends who play in London: at times with 10 to 20 pounds. I myself used to play when I was there. We didn’t kill ourselves doing it. Some people win because you have a good chance of winning. It is a delightful one with a surprise. I’m glad we have it here,” he said.
Powerball is an American lottery game played every Wednesday and Saturday night. Euro Millions is a transnational lottery. Its draws are held every Tuesday and Friday night. Euro Jackpot is a transnational European lottery launched in 2012.
The goal is to match 5 correct numbers out of 50 plus another 2 supplementary numbers out of another 10.
UK Lotto also known as the National Lottery was launched in 1994. UK Lotto is played every Wednesday and Saturday, while Mega Million draws are held every Tuesday and Friday.
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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