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FIRSTBANK’S SMECONNECT PORTAL COULD BE THE DIFFERENTIATOR FOR SMES IN NIGERIA

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SPONSORED BY by: H&H
  
Over a hundred years since banks came into Nigeria, services rendered to small and medium scale businesses were limited to core banking services and transactions. However, those that cared to look further were able to stand the test of time, reinventing themselves with cutting edge financial services that remain key to sustaining its relevance to not just its host communities but the global community. 

Based on findings from extensive engagements with customers, internal and external surveys and reports by SMEDAN, Efina and NBS, First Bank of Nigeria Limited has been deliberate in ensuring that SMEs thrive and grow their businesses as SMEs can access and enjoy the convenience of its industry-leading financial services. FirstBank thus launched the SMEConnect portal to congregate value-adding propositions & services for SMEs on a single platform for easy access. 
 
The value propositions and services on the SMEConnect portal educate and equip SMEs to combat challenges like poor business structure, lack of infrastructure, low market penetration, limited access to information and professional services, inconsistent government policies and others that might stifle their growth. 
 
For example, lack of capacity is one of the most indicted reasons for business failure or stunted growth in business. The SMEconnect portal connects business owners to resources and information to educate them on structuring and better managing their businesses. The platform houses webinars on various important topics to help educate SMEs and build the required capacity.
 
The blog section of the portal has interesting and informative content like: 
Tips for Building and maintaining good customer relationships; Remaining in business after Covid-19; How to scale up; How to successfully separate a financial business account from a personal business account; as well as  Creating a Micropension scheme for MSMEs etc. 


FirstBank also runs varying degrees of entrepreneurship programs and activities through pieces of training, workshops, seminars, business clinics and webinars, and the events are displayed on the portal for business owners to access.
 
It is known that over 60% of businesses fail in their first year, not only because of capacity constraints, access to finance is another reason they fail. The SMEConnect portal connects businesses to resources and finances by providing information on the various finance options available to registered users. There is a section of the portal that breaks down the steps to accessing finance for businesses, to simple actions such as opening either savings or domiciliary accounts After all, what would be the essence of all the education and capacity building if the business owner is still unable to access finances and other resources. SMEs that have an account with FirstBank can access direct and indirect funding throughout the business life cycle via grants, debt/loans, and equity.
 
In addition to other benefits, the platform connects SMEs to Market, Resources, Infrastructure, Talent for business development, Policy and Advocacy, giving them all they need to move to the next stage of their business growth. The portal also integrates SMEs into large distribution networks by connecting them to customers, distributor channels, suppliers, and large corporates.
 
There are also productivity tools such as the Business Diagnostic tool that helps check the health of a business as well a pool of professionals like accountants, lawyers, digital marketers, consultants and business coaches, which SMEs can tap into.

Some of these value-adding solutions are free, and for the few that are not, they come at substantially discounted rates. As the premier Bank in West Africa, First Bank has exceeded the expectation of what its services to individuals and businesses ought to be. The SMEConnect portal is one of First Bank’s initiatives to promote the sustainability of SMEs by exposing them to the knowledge and resources they need to grow their business. 
 
One of the most exciting features businesses get on the SMEConnect portal is the Business Diagnostic Tool earlier mentioned, it is a 15-minute survey where SMEs are asked questions about their business and at the end, get a customised report for their business. This is ordinarily, a service that business owners pay consultants to get, but First Bank has made it available for free even to businesses that do not have an account with them.
 
There are special offers for SMEs that are registered and have an account with First Bank, and an opportunity to be listed on the portal. You can find businesses listed across different industries like education/training, manufacturing, trade, agriculture, hospitality, transportation/logistics, telecommunications, ICT, healthcare and fitness, sports, FMCG, financial services, media/entertainment, food, real estate, engineering/construction, oil & gas, fashion/beauty, and services.
 
These registered businesses get to showcase their products/services for free, interact with customers and other SMEs, have an opportunity to attend free monthly capacity building workshops, seminars and webinars; and get exclusive discounts on business development resources such as booking a business coach.
 
As more businesses sign up and use the SMEConnect portal, it is possible to see a future where Nigerian businesses break even, thrive, and grow amidst challenges.

Culled from Nairametrics

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How Nestlé and the Swiss Consulate in Nigeria are upskilling and creating job opportunities for Nigerian youth

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How Nestlé and the Swiss Consulate in Nigeria are upskilling and creating job opportunities for Nigerian youth

For the thirteenth consecutive year, Nestlé Nigeria has empowered more than twenty young Nigerians through the Technical Training program in its factory at Agbara.

The participants received scholarships and training to attain the highly recognized City & Guilds certifications.

In addition, the top five students were given the opportunity to conclude their training with an eight-week apprenticeship at two of Nestlé’s technical sites in Switzerland (Orbe and Broc).

Equipped with their newly acquired skills, the graduating batch are ready to embark on their engineering careers with Nestlé in Nigeria.

The Nestlé Technical Training Program in Nigeria is part of Nestlé’s global Needs YOUth initiative. Its objective across the three centres in Agbara, Abaji and Flowergate is to enhance the employability of young Nigerians by providing them essential skills in Mechanical, Electrical, and Automation Engineering. The Agbara training centre is run in collaboration with the Swiss State Secretariat of Migration (SEM).

“Africa has the largest population of young people globally, with 70% of sub-Saharan Africa under the age of 30,” commented Remy Ejel, Nestlé Executive Vice President and Chief Executive Officer for Zone Asia, Oceania, and Africa. “It is crucial to help the younger generations reach their full potential and support economic growth by offering opportunities for skill development and employment.

Nigeria is an important country to Nestlé. We’ve been there for more than 60 years and are proud of our contributions to its development.

This partnership not only helps meet the demand for skilled labor in Nigeria but also supports the local economy and aligns with Nestlé’s broader objectives of enhancing youth employability.”

Since its inception in 2011, the program has received an overwhelming response, with an average of 10,000 applications annually. Each year, up to 60 apprentices are selected through a rigorous assessment process to ensure quality training and personalized attention.

The program includes 18 months of intensive theoretical and practical training for participants, who receive certifications in level 3, 4 and 5 of City & Guilds of London upon completion.

Dolapo Adedoyin Okunola, 25, is a program graduate aspiring to become a Technical Manager. The highlight of her experience was participating in impactful projects aimed at improving energy efficiency and machine validations, while collaborating with a diverse and talented team.

She also enjoyed the opportunity to learn basic French and explore the picturesque Swiss landscapes. “The Nestlé Technical Training Program has significantly enhanced my abilities and expanded not just my skills and academic knowledge but also my experiences of different cultures and languages,” Dolapo explained. “The comprehensive training I received in Nigeria, combined with my internship in Switzerland provides me a competitive edge in the corporate world. I am confident that this program has laid a strong foundation for my career.”

The program not only enhances the technical skills of talented young Nigerians but also fosters cultural understanding and knowledge sharing between Switzerland and Nigeria.

His Excellency Osuobeni Rawlings Krobari, Chargé D’Affaires of Nigeria to Switzerland and Liechtenstein added: “I am delighted to see the program’s success in enhancing the employability of young people in Nigeria. A skilled workforce is vital for our long-term growth.

I extend my heartfelt congratulations to the graduates on their achievements. I encourage them to view their new skills as not only a foundation for their careers but also an opportunity to be ambassadors for their generation, by sharing knowledge and best practices with their peers.”

To date, the program has benefited close to 230 trainee graduates, with 98% securing employment at Nestlé Nigeria. Nestlé and SEM jointly invest in the program, reflecting their commitment to provide more economic opportunities to youth.

Ms. Valérie Gass, Policy Advisor, State Secretariat for Migration SEM, said: “This program was launched the same year as the migration partnership between Switzerland and Nigeria, which aims, among other things, to create greater economic opportunities locally.

The program is an excellent example of a successful Swiss public-private partnership that effectively addresses challenges and creates meaningful opportunities. We take great pride in this initiative and remain committed to supporting youth in Nigeria.”

The Nestlé Technical Training Program consists of three programs run by Nestlé Nigeria in its factories in Agbara, Flowergate, and Abaji. In 2024, a total of 70 top-performing young Nigerians from these programs completed apprenticeships.

This initiative is just one example of how Nestlé is helping youth become more employable across Asia, Oceania, and Africa. Drawing inspiration from the Swiss dual education system to combine theoretical and practical training, Nestlé aims to create a positive impact in the countries where it operates by leveraging global expertise alongside local insights.

The global Nestlé Needs YOUth program was launched in 2013 and aims to help 10 million young people around the world access economic opportunities by 2030. As part of this ambition, it aims to reach more than 5 million youth across Asia, Oceania and Africa.

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ACCESS BANK PLC SIGNS AGREEMENT TO ACQUIRE 100% EQUITY STAKE IN SOUTH AFRICA-BASED BIDVEST BANK

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Holdings Plc (“Access Holdings”) is pleased to announce that its banking subsidiary, Access Bank Plc (“the Bank”), has entered into a binding agreement with South Africa-based Bidvest Group Limited for the acquisition of a 100% equity stake in Bidvest Bank Limited (“Bidvest Bank”).

This agreement reflects the 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.

Founded in 2000, Bidvest Bank 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 financial year ended June 2024, Bidvest Bank reported total assets equivalent to USD665.0 million and audited profit before tax of USD20.0 million.

The acquisition is expected to close in the second half of 2025, subject to regulatory approvals. 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.

Roosevelt Ogbonna, Managing Director/CEO of Access Bank Plc, commented:“This acquisition supports our ambition to expand across Africa and solidify our presence in key markets, with South Africa being a top priority.

It underscores our commitment to establishing a more resilient, diversified, and sustainable business model that leverages technology to meet evolving customer needs. Bidvest Bank provides a unique opportunity to blend its strong local expertise with Access Bank’s robust trade and retail banking capabilities, creating a platform for long-term growth and value creation.”Mpumi Madisa, Chief Executive of The Bidvest Group, added:

“As a well-respected, experienced, and prominent financial services entity, I am pleased that Access Bank meets our objectives and provides reassurance for the continued sustainability and prosperity of the bank.

It will enable the bank to advance, scale, and sustainably grow in today’s fast-changing, technology-driven, and highly competitive sector.”The transaction aligns with Access Bank’s expansion objective to build the scale needed to become a major player in its market.

By leveraging Bidvest Bank’s robust local capabilities and Access Bank’s established pan-African presence, the Bank will have increased capacity for intra- and inter-Africa trade, connecting businesses and creating new opportunities for regional integration.

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Alleged Blackmailing of GTCO, CEO: Bloggers’ trial moved to January

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Adenle Ahmed Abiola

The trial of four bloggers: Precious Eze, Olawale Rotimi, Rowland Olonishuwa, and Seun Odunlami, charged with allegedly blackmailing Guaranty Trust Holding Company and its Group Chief Executive Officer, Segun Agbaje, was on Thursday adjourned to January 13 and 14, 2025.

They were dragged before Justice Ayokunle Faji of the Federal High Court, Lagos by the Special Fraud Unit of the Nigeria Police Force.

They are facing a 10 count amended charge for allegedly publishing false information about GTCO and Agbaje through various social media platforms.

They had pleaded not guilty to the charges and were denied bail because Eze was accused of being a serial offender.

However, Justice Faji ordered an accelerated trial of the four bloggers.

At the resumed hearing of the matter on November 13 and 14, 2024, Justice Faji dismissed their bail applications, citing the serious nature of the alleged offences, which included charges that could lead to up to 14 years in prison.

The judge also held that Eze has shown the tendencies of committing the offence again if let out as he is currently charged with a similar offence in another court and was only out on bail when he went ahead to commit the alleged offence for which he is now standing trial.

He also highlighted the potential destabilising impact such actions could have on the banking sector, particularly since some of the charges involved cross-border activities on the internet.

He also noted that the defendants’ actions challenged the authority of regulatory bodies, including the Central Bank of Nigeria, which had approved GTCO’s audited statements.

At the resumption of trial on Thursday, the defence counsel, O. A Afolabi, called Eze, the 1st defendant, to the witness box to give his testimony concerning the circumstances surrounding the recording of his statement at the police custody after his arrest.

The witness said: “I was arrested on September 21, 2024 at Gbagada and was taken to the SFU office in Ikoyi.

“When we got there, I was taken to the office on the first floor by the right, where we met someone called Abu, who later called Mr. Yakubu to conduct my interrogation.

“He then took me to another office where there were many files.

“He then asked me if I knew why I was arrested and I answered that I had no idea.

“A file was then shown to me and I didn’t know how the file applied to me.

“Yakubu then replied that it was a petition written against me and a few others from GTB.

“We sat down and discussed.

“He told me my name was mentioned that I wrote a story against the bank and he said if I should cooperate with him, the issue will be settled seamlessly.

“He said if I give the full details of the issues, I’d be free to go.

“He said I should write my statement and I asked that my lawyer has to be here before I write and he replied that it doesn’t matter since all that he asked was for me to write what happened.

“I was insistent on having my lawyer around and he got offended.

“He said I should write my statement If I want to leave the station that same day.

“I agreed eventually and he brought a sheet of paper for me to write.”

On whether the interrogation room captured in the video played for the court was the same room he was taken to immediately he got to the SFU office, the witness replied that he had seen the video and the room was different from the initial one he was taken.

Afolabi further asked the circumstances surrounding the writing of the two statements shown in court.

Eze replied: “The statement I wrote in the first office I was taken to was the same one I was given to rewrite the same thing in another form.”

Objecting, the prosecution counsel, Chief Ajibola Aribisala (SAN), urged the court to play the video recording of the statement to ascertain the authenticity of the witness’s claims that he copied his first statement in his second.

Chief Aribisala informed the court that the two statements, in contrast to what the witness said, were two different statements without same narration and meaning.

In continuation of his cross-examination, the prosecuting counsel urged the court to allow the witness to read out a few lines from the two statements to determine if it was copied or rewritten.

The defence counsel raised an objection to the suggestion of reading out the content of the statements to the court by the prosecuting counsel.

Aribisala insisted that the statement is yet to be admitted before the court and as such cannot be read out.

After few deliberations, the trial judge admitted the statement as evidence to be used in the trial within trial.

The prosecuting counsel, after the careful comparing and contrasting of the two statements, asked the witness the similarities between the two statements to ascertain it as being copied or rewritten.

The witness replied: “I’m not a child and I’m learned to know that I’m not expected to write the statement verbatim.

“And as a writer, I can write on the same subject matter or topic with different approaches or words.”

Eze added that the initial part of the second statement he was seen writing in the video played in the court was dictated to him by Investigating Police Officer Yakubu, who later gave him the first statement to copy into the second one he wrote.

Opposing, Chief Aribisala told the court that the two statements are the original thoughts of the witness and not dictated as the witness had alleged in his testimony.

Justice Faji thereafter adjourned the case until January 13 and 14, 2025 for further cross-examination of witnesses.

The Eagle Online recalls that at the resumption of trial on Tuesday, a police witness, M. Yakubu, who was still under oath, was cross-examined by the defence counsel.

Adeniyi had asked him: “Are you familiar with international laws and practices that guide investigators and the implications of not adhering to such laws and practices?”

The witness replied: “I am aware,” adding that he had been an investigator since 2001.

On whether he knew that each column in a statement form has its importance to the investigator and the suspects and as well familiar with his right to guide and not induce or promise the suspect through the process, the witness replied that he was certainly aware.

Adeniyi further asked for the starting and ending time of each statement recording of the defendants from the 1st to the 4th and the reason for the process without the presence of their lawyers

The witness replied that the maximum time spent in recording the statement of each defendant was an hour and it was done in the absence of their legal representatives, which he said was as the defendants agreed to do.

He further probed: “How many interrogation rooms do you have at your station?”

Witness replied: “We have only one.”

Defence counsel: “How did you record the statement of the four defendants?”

Witness: “It was done one after the other and I was the one who conducted it.”

Defence counsel: “Do you have an observation room at your station? How many?”

Witness: “We only have CCTV footage of the interrogation room, which can only be viewed from the office of the CP, DSP and ACP.”

The defence counsel then prayed the court to give room for more witnesses for cross examination.

Opposing the application, Chief Aribisala urged the court to reject the request or mandate the defence counsel to make available the list of witnesses before they appear in court.

In delivering his ruling, Justice Faji ordered the defence counsel to update the prosecuting counsel on the list of the witnesses that will be summoned at the next hearing slated for Thursday, December 12, 2024.

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