Business
Fidelity Bank boosts Nigeria’s Non-oil Exports with FITCC Houston
…Signs $40million deal with AFREXIM Bank and JohnVents Industries for cocoa export
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
The much-anticipated second edition of the Fidelity International Trade and Creative Connect (FITCC) got off to a boisterous start on Tuesday, 24 October 2023 as leading financial institution -Fidelity Bank Plc -hosted a broad range of businesses, regulators, members of the diplomatic corps and other guests to the opening ceremony in Houston, Texas, United States of America.
Tagged FITCC Houston, the two-days event is aimed at achieving several objectives including increasing the pipeline of Nigerian businesses that export into the US market, providing the diaspora market more ethnic product options and enabling exporters to build capacity to improve product quality and meet international standards.
Welcoming participants to the event, MD/CEO, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe, said, “Developments on the global scene have necessitated the need to constantly seek viable alternatives as businesses work to stay competitive in a rapidly evolving macro-economic environment.
On the supply side, businesses are waking up to the imperative of catering to an international customer base in order to hedge against currency devaluation risks, increase the reach of their products and to ultimately ensure the long-term sustainability of their ventures. Indeed, globalization has emphasized the need for businesses to improve in terms of cross border offerings and collaborations.
“To bridge these gaps, we created the Fidelity International Trade & Creative Connect (FITCC) in 2022 and hosted the inaugural edition of the expo in London last November. At the event, we had over 100 Nigerian businesses connected to United Kingdom business counterparts and deals worth about 200million dollars closed on the spot and post-event.
This year, we are taking it a notch higher as we aim to close deals worth about 250million dollars. We have therefore put in place an elaborate experience to help stakeholders achieve this and several other objectives at this expo.
Following the welcome address, keynote and goodwill addresses were presented by the President & Chairman of the Board of Directors African Export–Import Bank (Afreximbank), Professor Benedict Oramah; and Nigeria’s Ambassador to the United States of America, Dr. Uzoma Emenike respectively.
A key part of the event was the exhibition which featured more than 160 Nigeria and US-based businesses active in the fintech, commodities, fashion, cosmetics, service, creative, agriculture and extractive industries in the non-oil sector.
One of the exhibitors and the Founder/CEO, Oriki Spa, Joyce Awosika said, “We look forward to meeting all our amazing customers and we promise them an impactful experience with our products that would leave a lasting impression. We urge them to join us at booth 520 here at FITCC Houston.”
The expo also featured the signing of a $40million pre-export finance facility in favour of JohnVents Industries -one of the exhibitors at the expo. The loan, which has been adjudged as a landmark development by analysts in the exports space -would be provided by AFREXIM Bank with Fidelity Bank acting as the local administrative agent.
“We are delighted to participate in the tripartite loan signing ceremony as it demonstrates the size of the opportunity in the Nigerian cocoa market and its potential to meet the demand of off-takers in the US.
The ceremony also highlights the value of our partnership with AFREXIM Bank especially in providing much-needed credit to last mile beneficiaries to upscale their operations and cater to a global market. These align with our objectives for FITCC and we are thrilled to host the formal deal signing event here”, commented an elated Mrs. Onyeali-Ikpe in a chat with journalists at the event.
Day 1 of FITCC Houston closed out with a fashion show dedicated to unique Nigerian pieces. Themed, “The Connect Plus Fashion Show”, the event featured elegantly styled-models adorning distinctive and culturally inspired designs from several Nigerian labels including Bijelly Couture, Eclectic Chique and MODChic. The fashion show also provided networking opportunities for guests and participants.
Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged customer commercial bank with over 8 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.
The bank was recognized as the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards. The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.
Business
Access Bank Group, Aig-Imoukhuede Foundation Pledge $300m to Transform Africa’s Economic Landscape
“We can’t wait to be saved; Africans need to solve Africa’s problems. This $300 million commitment reflects this reality’’ – Aig-Imoukhuede
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
The Aig-Imoukhuede Foundation and Access Bank Group have pledged $300 million in charitable commitments over the next 20 years. Access Bank has committed $200 million and Aig-Imoukhuede Foundation committed $100 million.
President Paul Kagame, President of the Republic of Rwanda and Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC, at the Africa CEO Forum 2024 in Kigali…Thursday.
This will fund African government initiatives with a proven potential to transform national economic performance.
Speaking about the commitment, Aigboje Aig-Imoukhuede, Chairman, Access Holdings and Co-Founder, Aig-Imoukhuede Foundation, said, “We can’t wait to be saved, Africans need to solve Africa’s problems. This $300 million commitment reflects this reality.”
President Paul Kagame, President of the Republic of Rwanda and Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC, at the Africa CEO Forum 2024 in Kigali…Thursday.
Appropriately, this announcement was made at the Africa CEO Forum 2024 in Kigali, Rwanda, where the theme of this year’s event is ‘At the table or on the menu?’. At the event, CEOs from across the continent joined to discuss how Africa can demand a seat at the global table, rather than continuing to wait to be invited.
The fund will see the creation of an African-led Super NGO in partnership with academics, experts and philanthropists across the globe who are committed to closing the gap between Africa and the rest of the world. The NGO will work with African governments to provide the funding, governance and talent required to successfully execute game changing government reform programs, especially in the delivery of digital public infrastructure.
The development comes at a time when Ajay Banga, President of the World Bank, has warned wealthy countries that it would be short-sighted to “ignore” Africa. This landmark Africa-led initiative could not have been better timed.
Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC and Co-founder, Aig-Imoukhuede Foundation and Ofovwe Aig-Imoukhuede, Co-founder, Aig-Imoukhuede Foundation, on the sidelines of the Africa CEO Forum 2024 in Kigali…Thursday.
“We African leaders cannot sit back and watch the 4th Industrial Revolution transform the rest of the world while leaving Africa falling further behind. We have to create our own ‘table’ by using technology to unlock the power of our youth, giving Africa a greater voice in the world. It’s today’s leaders who will determine whether or not we grab this opportunity,” Aigboje Aig-Imoukhuede continued.
The availability of digital public infrastructure is a proven and cost-effective way for developing nations to break free of the status quo. It provides citizens with access to the same public goods and services available to citizens of advanced nations.
The India Stack has become a shining example of what can be achieved when visionary public and private sector leaders partner for development.
The Access Bank and Aig-Imoukhuede Foundation inspired NGO will make such partnerships a reality and delivering measurable improvements to the lives of Africans across the continent.
Notes to Editor:
For media inquiries, please contact:
communication@aigafrica.org or +234 808 5716 788
mediarelations@accessbankplc.com or +234 803 320 4315
ABOUT THE AIG-IMOUKHUEDE FOUNDATION
The Aig-Imoukhuede Foundation is a public sector-focused philanthropic organisation founded by Aigboje and Ofovwe Aig-Imoukhuede to improve the lives of Africans through transformed public service delivery and increased access to quality primary healthcare. The Aig-Imoukhuede Foundation accomplishes its mission by supporting the reform initiatives of public sector entities, providing financing, technical support, and capacity-building programmes and resources for the public sector workforce. The Foundation also provides funding and strategic support to drive the work of affiliate organisations such as Africa Business Coalition for Health (ABC Health), the Private Sector Health Alliance of Nigeria (PSHAN), the Nigerian Solidarity Support Fund (NSSF) and others.
For more information, please visit www.aigimoukhuedefoundation.org.
Business
AIGBOJE AIG-IMOUKHUEDE APPOINTED PRESIDENT OF FRANCE NIGERIA BUSINESS COUNCIL
AIGBOJE AIG-IMOUKHUEDE APPOINTED PRESIDENT OF FRANCE NIGERIA BUSINESS COUNCIL
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
At the esteemed Choose France Summit 2024, held on Monday, May 13, 2024, Aigboje Aig-Imoukhuede, the Chairman of Access Holdings PLC, was formally appointed as the President of the France Nigeria Business Council (FNBC) by the President of the French Republic, President Emmanuel Macron.
Aigboje Aig-Imoukhuede having a handshake and a tête-à-tête with President Macron at the Council’s meeting with the President, and Gilbert Chagoury looking on.
The France Nigeria Business Council (FNBC) stands as a pivotal coalition of Nigerian private sector business leaders, committed to enhancing bilateral relations between Nigeria and France. Its core objectives revolve around the facilitation of trade, investments, infrastructural development, job creation, and cultural integration between the two nations.
Since its establishment in June 2021 under the auspices of President Emmanuel Macron, the FNBC has diligently utilised its member network to champion investments across key business sectors, fostering cultural understanding and driving economic growth between Nigeria and France. Notably, it has catalysed Nigerian businesses’ ventures into investment opportunities within France.
Comprising 13 distinguished members, the Council boasts prominent figures including Aigboje Aig-Imoukhuede (President), Abdul Samad Rabiu, Gilbert Chagoury, Mike Adenuga, Aliko Dangote, Jim Ovia, Tony Elumelu, and John Coumantaros. Additionally, Kola Karim, Leo Stan Ekeh, Daisy Danjuma, Gbenga Agboola, and Jean Haas serve as integral members, with Jean Haas holding the position of Secretary.
Aig-Imoukhuede’s appointment follows the passing of Herbert Wigwe, the Council’s former President, in February 2024.
Aigboje Aig-Imoukhuede having a handshake and a tête-à-tête with President Macron at the Council’s meeting with the President, and Gilbert Chagoury looking on.
The Choose France Summit is an annual gathering that convenes business magnates, investors, and governmental dignitaries to explore investment prospects within France. The highlight of the Summit was the Presidential Dinner, characterised by high-level engagements and mutual commitments between participating parties.
Business
ACCESS BANK (SL) LTD STRENGTHENS LEADERSHIP TEAM WITH KEY BOARD APPOINTMENTS, NAMES NEW CHAIRMAN
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Access Bank Sierra Leone Ltd (‘Access Bank (SL) Ltd’) has announced the appointment of new executives to its Board of Directors (‘the Board’), further strengthening its leadership team and advancing the implementation of its growth and transformation strategy.
These appointments also reflect the Bank’s commitment to fostering growth and development while maintaining the highest standards of governance and stewardship.
Joining the Board as Non-Executive Directors are Maurice Nathaniel Cole, Nsikak N. Usoro, Michala Mackay, Ibrahim Khalil Lamin, and Kolawole Augustine Ajimoko.
The appointees boast a wealth of expertise from diverse sectors, including banking, telecommunications, corporate governance, compliance, and finance. Their combined experience and vision will contribute to shaping the future trajectory of Access Bank (SL) Ltd.
Cole will serve as Chairman, following the exit of Alice Marie Onomake and will bring his experience to the fore as Access Bank (SL) Ltd works to consolidate its market position and deliver value for all its stakeholders.
“We are thrilled to welcome our new executives to Access Bank (SL) Ltd,” said Ganiyu Sanni, Country Managing Director, Access Bank Sierra Leone Ltd. “Their leadership and vision will be invaluable as we navigate through challenges and pursue sustained success. We extend our gratitude to outgoing Chairman, Alice Marie Onomake, and Non-Executive Director, Aminata B. Dumbuya, for their dedicated service and contributions to the Bank.”
Access Bank (SL) Ltd remains committed to excellence, transparency, and accountability as it embarks on this exciting new chapter. The Bank looks forward to leveraging the collective expertise of its leadership team to drive innovation, foster growth, and create lasting impact for its customers and communities.
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