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Access Bank Raises N442 Billion Capital through Syndicated Tier II Facility

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Access Bank Raises N442 Billion Capital through Syndicated Tier II Facility

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

In a significant stride towards fostering economic growth, Access Bank PLC, sub-Saharan Africa’s largest bank by customer base, has celebrated a landmark moment in its partnership with the Dutch Entrepreneurial Development Bank (FMO).

(L-R): Michael Jongeneel, Chief Executive Officer, FMO and Roosevelt Ogbonna, Managing Director/Chief Executive Officer, Access Bank Plc
Back row (L-R): Lisa Sherk, Head of Investment Analytics, Blue Orchard; Antti Partanen, Investment Manager, FinnFund, and  Adeola Ukoha,  Coverage Manager Africa, British International Investment at the signing of a N442.5bn (USD295 million) syndicate Tier II Facility agreement in Hague, Netherlands… recently.

The occasion marked the signing of a monumental syndicate Tier II Facility agreement of USD295 million (equivalent of about N442,500,000,000), underscoring a relationship that has flourished for over two decades.

Access Bank’s collaboration with FMO began in 2003, reflecting a shared commitment to economic development in Nigeria. This latest agreement, the third of its kind arranged by FMO for Access Bank, goes beyond a mere financial transaction, and serves as proof to the deep-rooted trust and synergy between the two institutions.

This historic agreement is the largest syndication in FMO’s history. This substantial investment is the result of a collective effort involving a syndicate of Global DFI partners, each playing a crucial role in strengthening Nigeria’s private sector.

The syndicate includes esteemed names such as British International Investment (BII), Belgian Investment Company for Developing Countries (BIO), BlueOrchard, FinDev Canada, Finnfund of Finland, Norfund of Norway, Oikocredit, and Swedfund of Sweden.

This financial infusion is earmarked to empower local small and medium-sized enterprises (SMEs), with a particular focus on underserved segments such as youth- and women-owned businesses, agricultural enterprises, and very small enterprises.

The ceremony, attended by dignitaries including H.E. Amb. Oluremi Oliyide, Nigerian Ambassador to the Netherlands, and representatives from the Dutch government, saw Roosevelt Ogbonna, MD/CEO of Access Bank PLC, express profound gratitude to FMO for their unwavering support and emphasise the bank’s commitment to becoming the world’s most respected African bank by adhering to global best practices and maintaining high standards of accountability.

“Today marks a significant milestone in our longstanding partnerships with FMO. This monumental syndicate Tier II Facility agreement underscores the deep-rooted trust and synergy among our institutions.

“This facility not only enhances our capital reserves, but also strengthens Africa’s trade capabilities and export potential. Putting these funds to use, we aim to catalyse growth across various sectors, stimulate business development, create jobs, and deepen financial inclusion, aligning with Access Bank’s mission to drive progress and development throughout the continent and beyond.”

In his remarks, Michael Jongeneel, CEO of FMO, stated: “We extend our gratitude to our longstanding partner, Access Bank, and our syndication partners for their outstanding cooperation and collective effort in making this loan facility a reality. The syndicated loan provides significant support to SMEs in Nigeria, particularly underserved segments such as women and young entrepreneurs, aligning perfectly with our shared strategy to enhance financial inclusion and empower local entrepreneurs in the agribusiness and SME sectors.”

Marchel Gerrmann, representing the Dutch government, and members of the syndication partners—BII, Finnfund, and BlueOrchard—were among the distinguished guests who witnessed this agreement.

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Nestlé Nigeria Celebrates First Graduation at Flowergate, empowering 20 Young Graduates

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Nestlé Nigeria reinforced its commitment to youth empowerment and skill development with the graduation of 20 young men and women from its Technical Training Centre (TTC) in Flowergate.

This ceremony, marking the first-ever graduation at the Flowergate facility, is a significant milestone in the company’s ongoing efforts to equip Nigerian youth with essential technical skills.

The Flowergate TTC, launched in 2023, is part of Nestlé Nigeria’s broader technical training initiative, which has been running since 2011.

Since its inception, the program has seen over 200 young Nigerians successfully complete the rigorous 18-month curriculum. With the company investing over six billion naira in this initiative, Nestlé Nigeria continues to prioritize developing the next generation of skilled professionals to drive the country’s industrial future.

Speaking at the event, Mr. Wassim Elhusseini, Managing Director/CEO of Nestlé Nigeria, expressed pride in the graduates’ accomplishments, saying, “For over 13 years, our commitment to nurturing young talent has reflected our confidence in the future of this generation.

This year alone, we proudly graduated 70 skilled professionals across all our centers, including Agbara and Abaji, all of whom have now joined our team.

For us, this program is more than just skills training—it’s about empowering young people to shape their futures and become catalysts for change.

By equipping them with critical technical expertise, we are opening doors to personal growth and financial independence. Ultimately, this is a long-term investment in creating shared value, as their success extends beyond themselves, impacting their families, strengthening communities, and driving growth in the industry.”

The Technical Training Program combines theoretical learning with hands-on engineering experience and culminates in the City and Guilds of London Technicians’ Certification, significantly boosting the employability of the participants.

The ceremony was attended by prominent community leaders, including His Royal Majesty, Alayeluwa Oba (Dr.) Babatunde Adewale Ajayi, Akarigbo and Paramount Ruler of Remo Land, who applauded the initiative. Other distinguished guests included the President of the Chartered Institute of Personnel Management of Nigeria, Mallam Ahmed Ladan Gobir; the Executive Secretary of the Association of Food, Beverage and Tobacco Employers, Mr. Adewale Jones; the Registrar and Chief Executive of the Chartered Institute of Personnel Management of Nigeria, Oluwatoyin Naiwo; and representatives from the Nigerian Employers Consultative Association (NECA). Tumi Onamade also represented the Alliance for Youth Initiative.

Beyond the TTC, Nestlé Nigeria’s broader commitment to youth empowerment is embodied in its Nestlé Needs YOUth initiative, which helps young people access economic opportunities through various programs, reaching an average of 25,000 youths annually. The company’s efforts are part of a larger strategy to prepare Nigerian youth for the future, ensuring they can thrive in an evolving industrial landscape.

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NiMet Upgrades Weather Presentation Infrastructure to 4K Resolution, Plan November Launch

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The Nigeria Meteorological Agency (NiMet) is upgrading its weather presentation infrastructure to cutting-edge 4K resolution.

The transformative initiative is being implemented in partnership with global technology leader Chyron and will be launched in November 2024.

The project will significantly enhance NiMet’s weather presentation capabilities, and marks a critical milestone in the agency’s commitment to delivering world-class meteorological services. NiMet will integrate Chyron’s state-of-the-art weather presentation solutions, bringing enhanced processing power, dynamic real-time graphics, and high-definition displays to its broadcasts. The move to 4K resolution will ensure sharper, more detailed visuals, giving Nigerians access to superior weather data that is clear, accurate, and reliable.

The upgrade forms part of the strategic vision of NiMet’s management under the leadership of the Director General and Chief Executive Officer of the agency, Prof. Charles Anosike to reposition the agency. The current management is focused on modernizing the agency’s operational framework to meet international standards, utilizing cutting-edge technology to improve the accuracy, efficiency, and visual clarity of weather forecasts, which are critical to sectors such as aviation, agriculture, and public safety.

The project is also a testament to Prof. Anosike’s focus on innovation and excellence in delivering vital meteorological services that meet the growing needs of various sectors and stakeholders.

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GOCOP partners NCDMB, EMADEB, Dangote, NCAA, Setraco, UBA, NCC, others for 2024 conference 

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Partners for the eighth annual conference of the Guild of Corporate Online Publishers (GOCOP) have begun to emerge with the Nigerian Content Development and Monitoring Board (NCDMB), Emadeb Group and Dangote Group leading the train of partners for the event slated for Thursday, October 3, 2024 at the Reverton Hotel, GRA Lokoja, Kogi State.
 
The chairman of the 2024 Conference Planning Committee, Danlami Nmodu, mni, also listed other partners to include Nigeria Civil Aviation Authority (NCAA), Setraco Nigeria Limited, United Bank for Africa (UBA) and Nigerian Communications Commission (NCC), according to a statement by GOCOP Publicity Secretary, Sir Remmy Nweke.
 
Nmodu was also quoted as saying that the eighth conference would center on the theme: “Nigeria: Tackling Insecurity, Power Deficit, and Transitioning to Digital Economy”  and will hold on Thursday, October 3, 2024 from 10am. The keynote will be delivered by former governor of Cross River State, Senator Liyle Imoke.
 
Additional partners for 2024, he said, comprised the Nigerian Safety Investigation Bureau, Access Bank plc, Zenith Bank plc, First City Monument Bank (FCMB), Fidelity Bank plc, Sovereign Trust Insurance Plc (STI), Nigerians in Diaspora Commission (NIDCOM) and National Film and Video Censors Board (NFVCB).
 
A major highlight of this year’s conference, Nmodu said, is a business luncheon with GOCOP partners on Wednesday, 2 October, at the same venue, while the conference itself would hold on Thursday, October 3. 
 
Nmodu noted that the 8th edition would be chaired by former Nigeria’s Ambassador to Spain, Alhaji Yusuf Mamman, with the former Nigerian Chief of Army Staff, Lt-General Tukur Yusuf Buratai (Retd) and the Executive Vice Chairman, Nigerian Communications Commission (NCC), Dr. Aminu Maida as Guest Speakers, while a Professor of Political Science at the Federal University Lokoja, Prof. Rotimi Ajayi and an edutainment communicator and veteran broadcaster, Ms Debrah M. Ogazuma are panellists.
 
Nmodu recalled that GOCOP conference 2023 was chaired by the JAMB Registrar and Chief Executive, Prof Ishaq Olarenwaju Oloyede, while the first Nigerian Professor of Capital Market, Prof. Uchenna Joseph Uwaleke was the keynote speaker.
 
Previous speakers at the annual conference consisted of Rev. Matthew Hassan Kukah, the Bishop of the Catholic Diocese of Sokoto who delivered the 2019 lecture on “Economy, Security and National Development: The Way Forward.”
 
In 2021, Mr. Boss Mustapha, Secretary to the Government of the Federation, keynoted the Conference in his capacity as Chairman of the Presidential Task Force on Covid-19. He spoke on: “Post Covid-19 Pandemic: Recovery and Reconstruction in Nigeria.”


In 2022, Professor Mahmood Yakubu, Chairman, Independent National Electoral Commission, delivered the keynote entitled “2023 Elections: Managing the Process for Credible Outcome.”
 
GOCOP was established to ensure that online publishers uphold the tenets of journalism.
 
Membership of the Guild is a constellation of editors and senior journalists who, having distinguished themselves in their various positions in the print and electronic media, ventured into online publishing which is both the present and future of journalism globally.
 
The Guild has over 104 corporate publishers as members.

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