Banking
Yemi Kale, Others to Discuss Income Management at Ecobank Nigeria Webinar
By Modupe Gbadeyanka
One of the things that give income earners sleepless nights is saving for rainy days. This worries low-income earners, who believe their earnings can barely meet their needs.
But on Friday, May 5, 2023, their perception of income management and growth might change if they endeavour to partake in an online workshop organised by Ecobank Nigeria.
The lender said it is inviting the former Statistician-General and chief executive of the National Bureau of Statistics (NBS), Mr Yemi Kale, who is now a Partner and Chief Economist of KPMG Nigeria, to discuss Maximizing Your Income: The Power of Diversification.
The event is aimed at educating participants on how to grow their earnings and manage their money. It would also have another expert in attendance, Oluyemisi Ogunmola, the Managing Director of EDC Fund Management Limited.
Others include Victor Yalokwu, the Head of Personal Banking at Ecobank Nigeria Limited; and Daberechi Effiong, the Head of Consumer Products at Ecobank Nigeria.
The Head of Consumer Banking at Ecobank Nigeria, Mrs Korede Demola-Adeniyi, disclosed that the webinar would focus on practical financial planning insights on maximizing income and how customers and members of the public can key in as they go through their financial lifecycle.
“I’m impressed with the calibre of speakers selected for this webinar. They are quite experienced and subject matter specialists. I believe they will do justice to the theme.
“The keynote speaker, Dr Yemi Kale, is well-known and versed on the subject matter. He will be joined by business experts from our Consumer banking team, as well as EDC, the bespoke investment arm of the Ecobank,” she said.
The banker noted that the webinar is further proof of the bank’s commitment to the financial well-being of her customers and urged the bank’s customers and non-customers to register and participate fully in the webinar, assuring them that the learning points would greatly impact their lives and businesses.
According to her, “In the face of current realities, people are generally seeking best ways to manage and grow their resources. This webinar presents an opportunity for us as a bank that cares and is proactive enough to facilitate a discussion on how to grow and maximise income.
“We will also expound on the benefits of income diversification. We have assembled subject matter specialists such as Dr Kale to share their expertise and experience. It is important to note that this webinar is not limited to our customers. It is for all. They will all find it most rewarding and impactful. You can register via https://forms.office.com/r/HHJfF3V7YP.”
Further, Mrs Demola-Adeniyi explained that the webinar is targeted at individuals, salary earners, small businesses, self-employed and other interested stakeholders, adding that it will also provide a guide to investment in key sectors and the bank’s offerings to help customers get the best out of today’s financial landscape.
Ecobank Nigeria Ltd is an affiliate of the Ecobank Group, the leading private pan-African banking group. Ecobank Nigeria offers a comprehensive suite of financial services and solutions to its Consumer, Commercial, Corporate and Investment Banking clients at over 200 branches and 50,000 Xpress Point agency locations in Nigeria.
The Ecobank Group was established in 1985 to drive financial integration and socio-economic development in Africa. With a presence in 35 sub-Saharan African countries as well as in France, the UK, UAE and China, we have unrivalled expertise and experience across Africa. The Ecobank pan-African platform provides a single gateway for payments, cash management, trade and investment across Africa and beyond.
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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