Category: Business & Economy

Winners have emerged in the Asian Banker – West Africa Awards 2018.

Ecobank Transnational Incorporated (ETI) and its two affiliate countries – Nigeria and Ghana – have emerged winners in three strategic categories of The Asian Banker – West Africa Awards 2018.

The annual awards saw ETI winning the Best Financial Inclusion Initiative Application or Programme with its innovative Xpress Account, while Ecobank Nigeria carted home the Best Transaction Bank in Nigeria, West Africa award. Ecobank Ghana also won in the Best Transaction Bank in Ghana, West Africa category.

ALAT by Wema Bank, won the Best Digital Bank in Africa; the Best Wealth Management Bank in Nigeria went to Standard Chartered Bank while the Best Mobile Payment Service and The Digital Wallet of the Year went to Guaranty Trust Bank, among others.

According to the Chairman, The Asian Banker, Emmanuel Daniel at the Asian Banker – West Africa Awards 2018 ceremony in Lagos:

“These awards are the most rigorous, prestigious and transparent awards programme for financial technology, retail banking and transaction banking in West Africa today. We recognize the deepening and increasing maturity and sophistication of the industry in this region.

Ecobank’s aggressive digital push produced a first innovative mobile payments solution, the Masterpass QR with MasterCard to push financial inclusion in Nigeria through its new, smart, card-less, contactless and cashless payment solution. This bank also launched an integrated electronic banking platform that has on-boarded four million customers within a short space of time”.

In his comment, Charles Kie, Managing Director, Ecobank Nigeria thanked the Asian Banker Award Team for painstakingly creating an opportunity to celebrate hard work by members of the banking community.

Represented by Korede Demola-Adeniyi, Group Head, Personal Banking, the Ecobank Managing Director stated:

“We are using digital technology to combat many of the financial inclusion barriers faced by those on the continent.

I use this opportunity to dedicate this awards to all hard working staff of the Ecobank Group, who have tirelessly worked to see the success of the bank. And also to all Africans who believe in us and have continued to encourage our efforts by adopting our products”.

Footwear Academy, a footwear training firm has won the maiden edition of the Proudly Made in Aba Hackathon Challenge, designed to proffer solutions to challenges currently faced by Aba entrepreneurs, especially in the finished leather, garment and steel fabricating clusters.

Using modern equipment and technology, Footwear Academy won the challenge by providing a solution to upgrading the skills of Aba shoemakers, to enable them to improve the quality of their products.

The Co-founder, Footwear Academy, Bentley Chukwuemeka, stated that their plan was to introduce Aba shoemakers to modern technology, to enable them to speed up production.

Bentley Chukwuemeka said Footwear Academy also intended to reduce its period of apprenticeship from five years to six months.

The hackathon challenge had the Footwear Academy coming first position with $50,000; Clintonel Technology, which came second, received a cash prize of $30,000; and Ogwugo Technologies, coming third, got $20,000.

Clintonel Technology introduced a solution to digitalise and automate the metal fabrication process in Aba, through Computer Aided Design and Computer Aided Manufacturing, while Ogwugo technologies introduced an online marketing platform, designed to handle trade activities between buyers and sellers in broad categories.

The technology, according to the Co-Founder, Clintonel Technology, Tochukwu Chukwueke, will help shoe manufacturers and metal fabricators in Aba reduce production cost, increase production speed, multiply production volume, improve finishing and generate more revenue.

The Co-founder, Ogwogo.com, Chima Abafor, explained that the firm was offering a dynamic platform built from scratch to adapt to modern e-commerce technology, as well as e-commerce problems.

According to the Programme Manager, West African Office, Ford Foundation, Professor Paul Nwulu, the Proudly Made in Aba Hackathon Challenge was organised to find ways of using technology and innovative ideas to help influence the lives of shoemakers, fabricators and garment makers in Aba.

Professor Nwulu explained that they received 400 entries, out of which 10 best ideas were selected for the final, and from which the judges further picked the best three as winners.

The Nigerian Postal Service (NIPOST) has been awarded the World Summit on the Information Society (WSIS) 2018 Prize in the category of e-Employment for the NIPOST Address Verification System (NIPOST AVS).

Post Master General Bisi Adegbuyi received the Award at the WSIS Forum 2018 in Geneva, marking the 15th anniversary of the World Summit on the Information Society Forum.

Continue reading NIPOST Awarded 2018 WSIS Prize In E-Employment Category

Access Bank Plc has emerged winner of the best ‘Commercial Banking Capabilities’ award in Nigeria by Euromoney for the year 2018.

The award was presented to the bank’s Group Managing Director/CEO, Mr. Herbert Wigwe, at the Euromoney Private Banking Awards 2018, which held at the Landmark in Marylebone, London. Access Bank Plc in the 2017 edition of the award category finished in 4th position.

Continue reading Access Bank Plc Wins 2018 Euromoney ‘Commercial Banking Capabilities’ Award

The Flour Mills of Nigeria Plc, has emerged the best company in the maiden edition of Dividend Payment Awards organised by Third Observers Nigeria Limited in Lagos.

In the Silver Award category, the winning companies are Total Nigeria Plc, Julius Berger Nigeria Plc, Berger Paints Nigeria Plc and Guaranty Trust Bank Plc.

The four companies were awarded silver for their consistency in paying dividends to their shareholders in the last 20 years.

The Bronze Award was won by Access Bank Plc, Learn Africa Plc, AG Leventis Nigeria Plc and May & Baker Nigeria Plc, having paid their shareholders for a minimum of 10 years.

Mr. Sunday Nwosu, the Vice Chairman, Third Observer Nigeria Ltd., said the purpose of the award was to encourage more companies to pay their shareholders and improve investments in the stock market.

According to Prof. Oyewusi Ibidapo-Obe, a former Vice-Chancellor of the University of Lagos and the Chairman of the event:

“We need to have more investors to invest in the capital market, we can no longer depend on crude oil money again.

I believe with more companies listed in the stock market, we can turn around the fortune of our country and minimise our dependence on crude oil.

I do appreciate what is happening in the capital market presently and it is an opportunity for investors to invest in it.

I am using this opportunity to commend the Third Observers Nigeria for rewarding companies that are paying their shareholders dividends, this will encourage more companies to join the league.”

The News Agency of Nigeria (NAN) reports that Dividend Payment Awards for Nigeria’s Listed Companies is endorsed by the Nigerian Capital Market (NCM) and the Securities and Exchange Commission (SEC).

Winners have emerged in the 2017 International Finance Magazine (IFM) Awards, which recognizes and honours individuals and organisations in the international finance industry that make a significant difference and add value.

The International Finance Magazine (IFM) shines a spotlight on those who make a contribution to raising the bar in the financial industry through activities of note. These include path-breaking initiatives in corporate social responsibility or charitable activities, better corporate governance and other achievements that impact the global finance community.

Continue reading Winners Of 2017 International Finance Magazine (IFM) Awards