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Tag: Group Managing Director/CEO

  • Zenith Bank commemorates 2026 World Environment Day with Two-Phase Clean-Up Initiative in Lagos

    Zenith Bank commemorates 2026 World Environment Day with Two-Phase Clean-Up Initiative in Lagos

    In line with its commitment to environmental sustainability and responsible business practices, Zenith Bank Plc has commemorated the 2026 World Environment Day with a two-phase environmental clean-up initiative in Lagos State, held under the global theme “Inspired by Nature. For Climate. For Our Future.”

    The first phase was a morning clean-up conducted by staff of the Bank on Wednesday, 3 June 2026, along Ajose Adeogun Street, Victoria Island, Lagos. The exercise mobilised employees to clear waste, sensitise residents on proper disposal practices, and reinforce the Bank’s culture of community service and environmental stewardship.

    The second phase, on Thursday, 4 June 2026, featured a waterways clean-up at the Falomo Waterways, Ikoyi, Lagos, executed in collaboration with the Lagos Waste Management Authority (LAWMA) and the Lagos State Waterways Authority (LASWA). The joint effort focused on removing marine debris, promoting cleaner waterways, and supporting the State’s broader climate-resilience agenda.

    Speaking on the initiative, Dame Dr. Adaora Umeoji, OON, Group Managing Director/CEO of Zenith Bank Plc, said: “At Zenith Bank, sustainability is integral to how we operate. Clearing our streets and our waterways is a practical reminder that protecting the environment is a shared responsibility – and one we are proud to take up alongside LAWMA and LASWA. Through these exercises, we are taking deliberate action to preserve our communities, support climate action, and inspire others to act. Our operations will continue to align with global environmental standards as we build a more sustainable future for Nigeria and Africa.”

    Zenith Bank remains committed to embedding Environmental, Social and Governance (ESG) principles across its operations, investing in green initiatives, energy efficiency, and community-focused programmes. These efforts advance the United Nations Sustainable Development Goals – particularly SDG 7 (Affordable and Clean Energy), SDG 11 (Sustainable Cities and Communities) and SDG 13 (Climate Action). Sustainability remains an operational imperative across the Bank’s Nigerian base and its broader African, UK and European footprints.

  • Zenith Bank launches Côte D’Ivoire subsidiary today, Strengthens Francophone West Africa Presence

    Zenith Bank launches Côte D’Ivoire subsidiary today, Strengthens Francophone West Africa Presence

    Zenith Bank Plc has announced the opening of its Côte d’Ivoire subsidiary, marking a pivotal achievement in the Group’s Pan-African expansion strategy.

    The official opening ceremony, scheduled to hold on Wednesday, April 29, 2026, is expected to attract senior government officials and regulators from Nigeria and Côte d’Ivoire, continental business leaders, and members of the diplomatic community, highlighting the strategic economic ties and investment opportunities between the two markets.

    The new subsidiary, licensed in December 2025 by the Ministry of Finance and Budget, Republic of Côte d’Ivoire, and regulated by the UMOA Banking Commission, will commence operations from its headquarters at SCI Wall Street, Avenue Noguès, Plateau, Abidjan.

    The launch represents a strategic move to deepen the Bank’s presence in Francophone West Africa and strengthen financial intermediation within the West African Economic and Monetary Union (WAEMU). Positioned as a gateway for cross-border trade and investment, Zenith Bank Côte d’Ivoire will focus on corporate banking, trade finance, local and offshore banking services, and structured financial solutions tailored to businesses operating across Africa and internationally.

    Commenting on the launch, the Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, said: “From the very beginning, our Founder and Chairman, Jim Ovia CFR, set out to build a truly global brand with a strong presence across Africa and key international markets. The launch of Zenith Bank Côte d’Ivoire is a bold step in realising that vision; opening a strategic corridor into Francophone West Africa and reinforcing our commitment to facilitating trade, investment, and enterprise growth across the continent. As we continue to expand thoughtfully and strategically, we remain focused on delivering world-class banking solutions that connect African businesses to global opportunities.”

    The new subsidiary will be headed by MD/CEO, Mr. Cédric Tano, a seasoned banking executive with over two decades of experience. Speaking ahead of the official opening, he said “We are proud to establish Zenith Bank’s presence in Côte d’Ivoire at a time of strong economic growth in the country and increasing regional integration. Our focus is to showcase the Zenith brand as a customer-centric institution that combines global best practices with deep local insight. We are well positioned to support businesses with innovative financing solutions, facilitate cross-border trade, and contribute meaningfully to the growth of the Ivorian economy and the wider WAEMU region.”

    The Côte d’Ivoire launch forms part of Zenith Bank’s broader continental growth strategy. In addition to the Anglophone countries where it currently operates, and in line with the expansion into the Francophone market, the Bank has commenced its entry process into the CEMAC (Central African Economic and Monetary Community) region, with Cameroon as the focal point.

    With a footprint already spanning Nigeria, Ghana, Sierra Leone, The Gambia, the United Kingdom, France, the UAE, and China, Zenith Bank continues to bridge African markets with global opportunities, enabling seamless trade and financial connectivity across the continent and beyond.

    Founded in 1990, Zenith Bank has grown into one of Africa’s most respected banking institutions, boasting a robust capital base and a consistent track record of strong financial performance. For 16 consecutive years, the Bank has held the record of highest Tier-1 capital in the Nigerian banking industry. Built on the foundation of People, Technology, and Service, Zenith Bank continues to deliver innovative financial solutions while maintaining a disciplined approach to growth and risk management. Its performance has earned it numerous local and international recognitions and endorsements.

  • Lafarge Africa Plc Empowers 100 Persons with Disabilities in Vocational and Entrepreneurial Training Across Lagos

    Lafarge Africa Plc Empowers 100 Persons with Disabilities in Vocational and Entrepreneurial Training Across Lagos

    Lafarge Africa Plc, a leading provider of innovative and sustainable building solutions and manufacturer of a wide range of cement, readymix, mortar, and Plaster of Paris brands, has successfully upskilled 100 Persons with Disabilities (PWDs) through its Disability to Ability (D2A) programme.

    The event held recently at Sheba Centre, Maryland, Lagos, marked the successful completion of intensive vocational and entrepreneurial training delivered in partnership with chess icon and changemaker, Tunde Onakoya, the Lagos State Employment Trust Fund (LSETF), the Lagos State Ministry of Youth and Social Development, and the Lagos State Office for Disability Affairs (LASODA).

    The D2A Programme, themed “Ability Reimagined,” equipped participants with practical, market-relevant skills across four vocational areas: Laptop and Phone Repairs; Make-Up and Gele styling; Wig and Braids Making; and Shoe and Bag Making. The training was conducted across two hubs; Ikeja (Lagos West) and Ikorodu (Lagos East), ensuring accessibility and inclusivity for beneficiaries across the state.

    Speaking at the event, the Group Managing Director/CEO of Lafarge Africa Plc, Lolu Alade-Akinyemi, explained that the initiative reinforces the company’s commitment to fostering equity, empowering vulnerable groups, and supporting inclusive economic growth across Nigeria.

    Alade-Akinyemi noted that the milestone is a significant step in advancing inclusion and economic empowerment for persons living with disabilities. According to him, equity and inclusion are not just ideas the company speaks about but principles it actively embeds in its business culture. He stated that the company remains committed to building a future in which every individual, regardless of physical ability, has the platform, tools, and dignity to thrive.

    “Through targeted training in digital skills, vocational training and entrepreneurship, we are not only equipping participants with capabilities for today, but are positioning them for relevance and independence for the future of work,” he said.

    Delivering his remarks, the Commissioner for Youth and Social Development, Lagos State, Mobolaji Ogunlende, commended the company for empowering people with disabilities with the skills and necessary tools needed to thrive.

    Ogunlende urged the company as well as the beneficiaries to continue to forge a partnership or collaboration that would help them grow in their crafts

    “For us in Lagos State, we believe that there is ability in disability.  It is what you do with the skills or empowerment that matters. Your destiny is in your hands because you have been empowered or exposed to the right skills.’

    L-R: Head, Geocycle, Lafarge Africa Plc, Temitope Dosumu; Permanent Secretary, Wealth Creation and Employment, Lagos State, Ololade Aina; Group Managing Director/Chief Executive Officer, Lafarge Africa Plc, Lolu Alade-Akinyemi; Beneficiary, Ibrahim Rashidat; Permanent Secretary, Youth and Social Development, Lagos State, Oluwatoyin Oke-Osanyitolu, and Communications, Public Affairs & Sustainable Development Director, Viola Graham-Douglas, during the graduation ceremony for the beneficiaries of Disability to Ability(D2A) initiative organized by Lafarge Africa Plc

    The Executive Secretary, Lagos State Employment Trust Fund (LSETF), Feyisayo Alayande, noted that the initiative has been largely successful as a result of the powerful collaboration between the agency and the company.

    Alayande stated that building the future goes beyond infrastructure but also building people, strengthening their potential, and shaping a far more inclusive and sustainable society. She described the programme as a reflection of the institution’s ongoing efforts to create opportunities and ensure that individuals can thrive independently. She added that through the programme, the beneficiaries can earn a living and contribute to themselves, their families, and the broader Nigerian economy.

    Also speaking, the Director of Communications, Public Affairs & Sustainable Development, Lafarge Africa Plc, Viola Graham-Douglas, said that the D2A programme aligns with the company’s long-term sustainability and inclusive growth agenda, which prioritises empowering underserved communities through practical and scalable solutions.

    Graham-Douglas stated that the programme was initiated with the belief that inclusion must be intentional and empowerment must be practical. She noted that the programme is not only meant to train people, but also to transform their lives in a way that is sustainable and far-reaching.

    One of the participants in the laptop and phone repairs group, Oluwatosin Savage expressed gratitude to Lafarge, LSETF and LASODA. He stated:  “Following the training, I can confidently repair a phone and laptop. I can also handle any type of accessories and gadgets ’ he said.

  • Zenith Bank hosts 2026 International Women’s Day Seminar themed, “Take It, You Own It”

    Zenith Bank hosts 2026 International Women’s Day Seminar themed, “Take It, You Own It”

    Zenith Bank Plc will commemorate the 2026 International Women’s Day with a renewed call to purposeful action and leadership. As part of preparations to celebrate this significant occasion, the Bank is set to hold its annual International Women’s Day Seminar on Monday, March 9, 2026, at The Civic Centre, Victoria Island, Lagos.

    Aligned with the global theme ‘Give to Gain” which underscores the principle that sustainable progress is achieved when individuals and institutions invest intentionally in women, Zenith Bank’s 2026 IWD seminar is themed “Take It, You Own It.” The theme reflects the Bank’s belief that while institutions must give through enabling environments and equitable systems, women must also step forward to claim space, own their value, and lead with confidence. It is both an affirmation and a challenge: embrace opportunity, empower yourself and others, and take ownership of your growth journey.

    Building on the success of previous seminars, including the 2025 edition themed “Winning On All Fronts”, Zenith Bank’s 2026 programme is designed to deepen meaningful engagement around women’s empowerment, leadership, and sustainable impact. Over the years, the Bank’s International Women’s Day initiatives have brought together women leaders, professionals, entrepreneurs, and emerging talents for dynamic dialogue, inspiration, and shared learning around gender equity, professional growth, and inclusive opportunity.

    More than a commemorative gathering, the 2026 seminar is designed as a convergence of influence, insight, and inspiration, bringing together accomplished women and progressive leaders across business, governance, creative industries, technology, and social impact.

    Speaking ahead of the Seminar, the Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, who will deliver the welcome address, said “The International Women’s Day is a reminder that progress requires intentionality. ‘Give to Gain’ speaks to the responsibility institutions have to create real opportunities, while our theme ‘Take It, You Own It’ challenges women to step forward boldly and lead. At

    Zenith Bank, we are deliberate about building environments where women are supported to grow, thrive, and shape outcomes, not only within our institution but across the communities and industries we serve.”

    The seminar will include segments focused on leadership insight, professional empowerment, wellbeing, and collaboration, offering attendees opportunities to engage deeply with thought leadership and practical strategies for advancing equity.

    With a carefully curated programme spanning keynote addresses, panel conversations, Q&A sessions, and creative interludes, Zenith Bank’s 2026 International Women’s Day Seminar promises to be a catalyst for meaningful action.

    Through its alignment with “Give to Gain” and its bold seminar theme, “Take It, You Own It,” Zenith Bank reaffirms its belief that when institutions give intentionally and women lead confidently, entire ecosystems rise. As conversations around inclusion continue to shape the future of business and society, the Bank remains resolute in its mission to foster platforms where women’s potential is recognised, amplified, and fully owned

  • Lafarge Africa Honours Trade Partners at the 2025 Customer and Transporter Awards

    Lafarge Africa Honours Trade Partners at the 2025 Customer and Transporter Awards

    Lafarge Africa Plc, a leading innovative and sustainable building solutions company and manufacturer of premium cement brands, has celebrated its outstanding trade partners at the 2025 Customer & Transporter Awards held on Saturday, February 21, at the Landmark Event Centre, Victoria Island, Lagos.

    The colourful ceremony brought together customers, transporters, and key stakeholders including the Honourable Commissioner for Housing, Lagos State, Hon Moruf Akinderu Fatai, the Honourable Commissioner for Women Affairs, Cross Rivers State, Hon Edema Irom, members of the Board of Lafarge Africa Plc – Mrs. Adenike Ogunlesi, Mrs. Olusola Oworu and Mrs. Elenda Osima-Dokubo, and management and staff of the company, to honour exceptional performance and reinforce the strong partnerships that continue to drive the company’s growth across Nigeria.

    The annual awards ceremony, regarded as the apex of Lafarge Africa’s commercial success, recognizes the invaluable contributions of customers and transporters who ensure the company’s products reach every part of the country. The 2025 edition celebrated partners whose dedication, integrity, and resilience have strengthened the company’s market leadership despite evolving economic realities.

    Elder Ubong Bassey Obot of Ubotex Nigeria Limited emerged the National Volume Champion. Igwe Cosmas Ezeumeh Chizoba of C.C. Umeh and Sons Limited and Chief Etim Effiong Okon of Batoframoje Enterprises secured the titles of first and second runners-up, respectively. As the champion, Ubong Obot received a 2026 Toyota Land Cruiser. C.C. Umeh and Sons Limited and Batoframoje Enterprises were awarded a 2026 Toyota Prado and a 2026 Toyota Fortuner, respectively.

    Additionally, B.I.G MultiQuest Nigeria Limited was recognized as the National Winner- Best Transporter category and was awarded a 2026 Toyota Hilux.  Two customers who emerged as National Growth Champions received 15KVA Generating Sets, while 4 regional champions were rewarded with a Toyota RAV4 each. Other winners received prizes including a Changan CS55, GAC S3, Hyundai Creta cars, 13KVA solar inverters, 80-inch Hisense TVs, and deep freezers, among others.

    Welcoming guests to the event, the Group Managing Director/CEO, Lafarge Africa Plc, Lolu Alade-Akinyemi, expressed deep appreciation to the partners for their loyalty and commitment to the business.

    Lolu Alade-Akinyemi noted that Lafarge Africa’s growth story would be incomplete without its partners’ market insights, trust, and consistent support. He emphasized that the company would continue to push boundaries in quality, innovation, and high performance, inspired by the strength of its partnerships.

    “We are here to honour partnership. We want to thank our customers for partnering with us in 2025. In 2025, we expanded our retail presence and focused on customer experience. We strengthened our ready-mix business, launched new products including Ecoplanet Elephant and  Ecocrete, our low-carbon cement and concrete solutions, and walked the talk on innovation, using technology as a competitive advantage. We could not have done this without our customers and partners,” he said.

    In his remarks, the Commercial Director of Lafarge Africa Plc, Gbenga Onimowo, described customers and transporters as “trade champions” whose excellence and unwavering belief in the company’s products have sustained the company’s strong position in the market.

    Onimowo stated that their shared values and commitment to growth have created a mutually beneficial relationship built on trust, loyalty, and integrity.

    “You are a vital part of our business, ensuring our products are visible and accessible across the country. Your contribution merits daily appreciation. Tonight’s expression of thanks is special because it gives us the opportunity to celebrate our wins together, in person. While we celebrate tonight’s winners, we acknowledge that every partner here has contributed meaningfully to our success. We believe this recognition will inspire even greater achievements in the year ahead,” he added.

    Also speaking, the Logistics Director, Lafarge Africa Plc, Osaze Aghatise, acknowledged the transporters as the critical bridge between the company and its customers, ensuring efficient distribution and nationwide availability of its innovative building solutions. According to him, the awards serve as both recognition and motivation, encouraging partners to continue raising the bar.

    The ceremony featured the announcement of various award categories, with top-performing partners receiving special recognition for their outstanding contributions. The evening was marked by celebration, networking with celebrities and notable artists, and camaraderie, reflecting the enduring spirit of collaboration that defines Lafarge Africa’s relationship with its trade partners.

  • Lafarge Africa Expands Sagamu and Ashaka Plants to Boost Cement Production

    Lafarge Africa Expands Sagamu and Ashaka Plants to Boost Cement Production

    Lafarge Africa Plc, a building solutions company and manufacturer of premium products and solutions brands across cement, mortar and readymix concrete, has reaffirmed its commitment to strengthening local cement production with the expansion of its Sagamu Cement Plant in Ogun State and Ashaka Cement Plant in Gombe State. The two new plants will be dry plants with preheater kilns, vertical raw mills and roller presses for cement mills to make them energy efficient.

    According to a notice sent to the Nigerian Exchange Limited (NGX) and its investing public and signed by the company secretary, Adewunmi Alode, the expansion of the Ashakacem and Sagamu plants is expected to increase production capacity to 2m metric tonnes per annum and 3.5 million metric tonnes per annum, respectively, upon completion. It is expected to improve product availability and enhance Lafarge Africa’s ability to serve customers efficiently across key markets. 

    This expansion is coming after the announcement made last year that Huaxin Building Materials Group’s had acquired 83.81% of Lafarge Africa Plc and demonstrates their commitment to Nigeria’s infrastructural development

    Speaking on the expansion, the Group Managing Director/CEO, Lafarge Africa Plc, Lolu Alade-Akinyemi, stated that the expansion projects reflect the company’s long-term confidence in Nigeria’s growth potential and are aimed at supporting Nigeria’s infrastructure and construction needs.

    Alade-Akinyemi explained that the project goes beyond capacity growth to deliver operational and sustainability benefits but also supports value creation for our customers and shareholders while contributing to economic activity and job creation across our host communities and the wider construction ecosystem.

    “The expansion of our plants is a strategic investment that reinforces Lafarge Africa’s role in supporting national development. By increasing capacity at our flagship plants, we are strengthening our supply chain, improving our responsiveness to market demand, and positioning the business to better support critical sectors such as housing, commercial construction, and infrastructure. It enables us to integrate modern production technologies that enhance efficiency, reliability, and environmental performance, in line with our commitment to responsible operations,” he said.

    Lafarge Africa Plc remains focused on disciplined execution of its expansion plans and transparent engagement with stakeholders as it continues to invest in strengthening its operations across Nigeria.

  • Lafarge Africa Restores Historic Independence Obelisk, Reaffirms Commitment to Sustainability

    Lafarge Africa Restores Historic Independence Obelisk, Reaffirms Commitment to Sustainability

    Lafarge Africa Plc, a leading innovative and sustainable building solutions company and manufacturers of a range of cement brands, has reaffirmed its commitment to sustainability demonstrated by the rehabilitation and preservation of a cultural and historical heritage – the Independence Memorial Obelisk at the iconic Tafawa Balewa Square (TBS), Lagos.

    The rehabilitation focused on structural strengthening, aesthetic renewal, accessibility upgrades, and restoration of symbolic carvings and historical inscriptions, while preserving the monument’s original design and significance.

    Speaking during the unveiling ceremony, the Group Managing Director/CEO of Lafarge Africa Plc, Lolu Alade-Akinyemi, noted that the rehabilitation of the Independence Memorial Obelisk reflects the company’s contribution to Nigeria’s infrastructure renewal through sustainable building practices.

    Alade-Akinyemi explained that the project also demonstrates Lafarge’s commitment to sustainability, as the renovation incorporates the use of Ecoplanet Elephant, its eco-friendly cement solution that delivers structural durability with at least 30% fewer carbon emissions, underscoring the company’s ambition to build for the future without compromising environmental responsibility.

    “At Lafarge Africa, we remain committed to contributing to Nigeria’s development through projects that promote history, sustainability, and better living for future generations. We are deeply honoured to play a role in preserving this national treasure. The Independence Memorial Obelisk represents a defining moment in our country’s history, and ensuring its longevity is not just an investment in infrastructure, but an investment in identity, memory, and national pride,” he said.

    Also speaking at the event, Honourable Minister, Federal Ministry of Industry, Trade and Investment, Dr. Jumoke Oduwole, MFR noted that preserving historical assets like the Obelisk is essential to nurturing a culturally aware nation, particularly now that Nigeria is placing greater focus on the intersection of history, innovation, and sustainable development.

    Oduwole, commending Lafarge Africa for its commitment to safeguarding historical monuments while supporting national development, noted that, “Lafarge’s unwavering commitment to Nigeria is undeniable. The Obelisk stands as a powerful symbol of our nation’s hope and optimism. As Nigeria’s story continues to evolve and rise, we must all embrace the responsibility to build with intentionality, pride, and a deep respect for our heritage,” she said.

    In his speech, the Governor of Lagos State, Mr. Babajide Sanwo-Olu represented by the Commissioner for Tourism, Arts & Culture, Mrs Toke Benson-Awoyinka, stated, “The Obelisk stands as a powerful symbol of heritage and sustained development—reflecting the strength of our diversity and the enduring hope of the Nigerian people. It embodies the values of unity, peace, progress, and nationhood, while enhancing cultural preservation and boosting tourism. We commend Lafarge Africa for making this vision a reality.”

    In her remarks, the Managing Director, Tafawa Balewa Square Management Board, Lucia Shittu said, “The Obelisk, standing proudly within the 14.6-hectare expanse of Tafawa Balewa Square, is more than a monument, it is a living testament to Nigeria’s journey toward independence and democracy. As the site where the Union Jack was lowered, it holds deep historical significance and continues to inspire national pride and reflection.”

    Other dignitaries at the event include the Chairman, Senate Committee on Trade and Investment, Senator Umar Suleiman Sadiq; Chairman, House of Representatives Committee on Commerce, Honourable Ahmed Munir; Honourable Commissioner for Commerce, Cooperatives, Trade and Investment (CCT&l), Lagos State, Mrs Folashade Bada Ambrose; Independent Non-Executive Director, Lafarga Africa PLC, Mrs. Adenike Ogunlesi; President and Chairman of the Council, Lagos Chamber of Commerce and Industry (LCCI), Mr Gabriel Idahosa, FCA; Vice President, Lagos Chamber of Commerce and Industry, Prince Abimbola Olashore, FCA; Director-General, Lagos Chamber of Commerce and Industry, Dr Chinyere Almona, FCA among others.

  • Zenith Bank’s Earnings surge 16% to N3.4TN, as PBT hits N917.4BN in Q3 2025

    Zenith Bank’s Earnings surge 16% to N3.4TN, as PBT hits N917.4BN in Q3 2025

    Zenith Bank Plc has released its unaudited financial results for the nine months ended 30 September 2025, with a remarkable 16% year-on-year growth in gross earnings from N2.9 trillion recorded in Q3 2024 to N3.4 trillion in Q3 2025. The Group’s performance continues to demonstrate resilience, strong momentum, disciplined execution and an ability to deliver long-term shareholder value in spite of challenging macroeconomic environment.

    According to the financial results presented to the Nigerian Exchange (NGX), the growth in gross earnings was driven by a sustained growth in interest income which grew by 41% year-on-year to N2.7 trillion. The growth in interest income was supported by a high-yield rate environment and an expansion in the Bank’s investment portfolio. Despite the increase in interest expense by 22% to N814 billion on the back of a tightening monetary cycle and a growth in the Bank’s funding base, the Bank was able to achieve a healthy Net Interest Margin (NIM) of 12% as against 10% in September 2024. Non-interest income declined by 38% to N535 billion, underpinned by a 60% decline in trading gains.

    Profitability remained strong, with profit before tax at N917 billion as against N1.00 trillion reported in September 2024. Profit after tax also declined by 8% to N764 billion and Earnings Per Share (EPS) came in at N18.60 as against N26.34 in September 2024, as the Bank took bold measures to improve the quality of its loan portfolio.

    The Bank’s total assets grew by 4% from N30 trillion in December 2024 to N31 trillion as at September 2025. This was largely supported by customer deposits, which rose by 8% to N23.7 trillion within the same period. Gross loans declined by 9% to N10 trillion as at September 2025, while Non-Performing Loan (NPL) ratio improved to 3% due to the write-off of non-performing loans.

    Return on Average Equity (ROAE) and Return on Average Assets (ROAA) stood at 23.3% and 3.3% respectively. Cost of funds increased to 4.5%, underscored by the broader elevated interest rate environment. The Group’s cost of risk stood at 10% while cost-to-income ratio rose to 45%.

    Coverage ratio and liquidity ratio remain solid and well within regulatory limits at 211.1% and 53% respectively. This highlights the Bank’s strong capital position and liquidity profile as well as its ability to fund strategic growth opportunities. It also reflects its unwavering commitment to a prudent risk management, compliance and corporate governance culture.

    Commenting on the results, the Group Managing Director/CEO, Dame Dr Adaora Umeoji, OON, said: “The Bank’s robust performance is an attestation to the resilience of the Zenith brand, result-driven strategy, and the adaptability of our people in an evolving operating environment. We have fortified our capital base, reset our asset quality, and are well positioned for sustainable and profitable growth”.

    Looking to Q4 2025, Dame Dr. Umeoji reinforced her optimistic outlook: “This result confirms the resilience of both our business model and our people. We’re on a solid growth path that we expect to maintain through the remainder of the year. Our focus on innovation, digital transformation, and developing solutions that address our clients’ changing needs positions us to capitalise on emerging opportunities whilst maintaining our disciplined approach to growth.” She assured shareholders that the robust performance, combined with improved asset quality and the Bank’s strong capital base, positions Zenith Bank to deliver exceptional returns with expectations of sustained value creation. “We’re well placed to sustain this momentum whilst maintaining responsible leadership in the Nigerian banking industry and delivering exceptional value to all our stakeholders.”

    The Bank’s track record of excellent performance has continued to earn the brand numerous awards, including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the sixteenth consecutive year in the 2025 Top 1000 World Banks Ranking, published by The Banker and “Nigeria’s Best Bank” at the Euromoney Awards for Excellence 2025. The Bank was also awarded Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022, 2024 and 2025, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023.

    Further recognitions include Best Commercial Bank, Nigeria for five consecutive years from 2021 to 2025 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023 and 2024 Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for four consecutive years from 2022 to 2025 and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

    The Bank’s commitment to excellence led to Zenith being also being named the Most Valuable Banking Brand in Nigeria in The Banker’s Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 to 2025 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and 2024 to 2025. The Bank also received the accolades of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards, Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics. The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/ Public Offer of the Year at the Nairametrics Capital Market Choice Awards 2025.

    Zenith Bank has also bagged several non-financial awards including, Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024.

  • Zenith Bank signals Strong Full-Year Outlook with N51.3 billion Interim Dividend Payout

    Zenith Bank signals Strong Full-Year Outlook with N51.3 billion Interim Dividend Payout

    Zenith Bank Plc, on Friday, October 10, 2025, made good on its promise as it paid a total interim dividend of N51.3 billion to its shareholders for the Half Year (H1) 2025, at N1.25 per share. This significant payout represents over 60% increase from the N31.4 billion paid in H1 2024, demonstrating the bank’s commitment and enhanced capacity to continually generate value for its shareholders amidst a challenging macroeconomic environment.

    The dividend payment comes on the heels of the bank’s audited financial results for the half-year ended June 30, 2025, released to the Nigerian Exchange (NGX) in September 2025, which showcased a robust financial position and growth trajectory.

    Commenting on the dividend payout, the Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, said, “We are pleased to have paid this significant interim dividend to our valued shareholders. Our half-year results underscore our resilience and commitment to our stakeholders. Based on the momentum achieved in H1, we are confident in our full-year outlook and expect to exceed shareholders’ expectations by year end.”

    The substantial dividend payout reflects exceptional underlying performance as the Bank recorded a robust 20% year-on-year increase in gross earnings, rising from N2.1 trillion to N2.5 trillion in H1 2025. Interest income drove this performance with an impressive 60% growth, climbing from N1.1 trillion to N1.8 trillion. The Bank achieved this impressive increase in interest income through strategic repricing of risk assets and effective treasury management.

    The Bank’s total assets also expanded to N31 trillion in June 2025, representing steady growth from N30 trillion in December 2024, underpinned by a robust and well-structured balance sheet. Customer confidence remained strong, with deposits growing by 7% from N22 trillion to N23 trillion in June 2025.

    Zenith Bank’s shareholders can be assured of the bank’s continued focus on delivering exceptional value and growth, driven by its strong financial fundamentals and strategic initiatives.

    The Bank’s track record of excellent performance has continued to earn the brand numerous awards, including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the sixteenth consecutive year in the 2025 Top 1000 World Banks Ranking, published by The Banker and “Nigeria’s Best Bank” at the Euromoney Awards for Excellence 2025. The Bank was also awarded Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022, 2024 and 2025, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023.

    Further recognitions include Best Commercial Bank, Nigeria for five consecutive years from 2021 to 2025 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023 and 2024 Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for four consecutive years from 2022 to 2025 and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

    The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in The Banker’s Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 to 2025 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and 2024 to 2025 at the BAFI Awards. The Bank also received the accolades of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.

    Zenith Bank was also named Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024; Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics. The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/ Public Offer of the Year’ at the Nairametrics Capital Market Choice Awards 2025.

  • Lafarge Africa Unveils 2025 Edition of Female Tilers and Block Laying Training

    Lafarge Africa Unveils 2025 Edition of Female Tilers and Block Laying Training

    Lafarge Africa Plc, a leading innovative and sustainable building solutions company, has reaffirmed its commitment to women’s empowerment and inclusion in the construction industry with the commencement of its 2025 Female Tilers and Block Laying Training.

    The initiative, themed “BuildHer by Lafarge,” is designed to equip women from low-income communities in Lagos, Ogun, and Cross River states with technical, entrepreneurial, and financial skills that will enable them to build sustainable livelihoods and thrive in traditionally male-dominated professions.

    The 2025 edition is being implemented in partnership with the state government agencies. The training will be delivered to 100 women across the country with support from the Lagos Ministry of Youth and Social Development, led by the Commissioner for Youth and Social Development, Mobolaji Ogunlende, and the Lagos State Employment Trust Fund in Lagos state, led by Feyisayo Alayande, Executive Secretary, LSETF. In Ogun State, the Ministry of Women Affairs and Social Development, headed by the Honourable Commissioner of Women Affairs & Social Development, Mrs. Adijat Motunrayo Adeleye-Oladapo, supports the initiative. In Cross River State, the programme is delivered in partnership with the Cross River state Ministry of Women Affairs, led by the Honourable Commissioner for Women Affairs, Mrs. Edema Irom.

    The programme, designed for women from low-income communities across the country, offers an intensive eight-week training that combines practical and entrepreneurial skills. Participants will gain hands-on experience in tiling and block-laying using Lafarge Africa’s Supafix and SupaSet products, respectively. Beyond technical expertise, the programme also provides entrepreneurship training, mentoring, and financial literacy classes, equipping women with the tools to build sustainable careers in the construction industry.

    Recognizing the unique challenges faced by women between the ages of 20-45 in low-income communities, Lafarge Africa has designed the programme to ensure inclusivity and support. Participants will receive support that includes transportation, feeding, and access to a creche service for nursing mothers with children under 18 months, enabling them to engage fully in the training without compromising their family responsibilities.

    Speaking on the significance of the initiative, Lolu Alade-Akinyemi, Group Managing Director/CEO of Lafarge Africa Plc, said, “At Lafarge Africa, we are keen on sustainable female empowerment. With our female tilers and block-laying training program, we are opening doors for women to participate meaningfully in the construction industry while improving their economic independence. We are proud to play a role in breaking barriers, reducing poverty, and creating opportunities for women to contribute to the development of their families, their communities, and our nation.”

    Speaking on the structure of the programme, Viola Graham-Douglas, Director, Communications, Public Affairs and Sustainable Development remarked that the initiative reflects a balance between technical training and broader empowerment.

    “We are raising the next generation of women in construction through this training program. Since 2022 when we deployed the first training, we have trained more than 60 women and are excited for this year’s edition which is bigger and better than previous editions. The programme will culminate in a graduation ceremony, where participants will receive certificates of completion endorsed by Lafarge Africa in partnership with technical institutions, and trade associations. Graduates will also be integrated into the Block Makers and Tilers Association of Nigeria, formally recognizing them as professionals in their field who are open to job opportunities.” She said.

    To ensure sustainability, every graduate will be equipped with start-up tools, and the top ten participants will be specially recognized for outstanding performance.

    Beyond the training, Lafarge will launch a BuildHer Alumni Network, providing a platform for continued mentorship, collaboration, and visibility for programme beneficiaries. A Train the Trainers initiative will also be introduced, ensuring that the impact of the programme can be replicated and scaled across more communities in the years to come.

  • Lafarge Africa Plc Launches new ReadyMix Plant in Lagos, Strengthens Commitment to Local Production

    Lafarge Africa Plc Launches new ReadyMix Plant in Lagos, Strengthens Commitment to Local Production

    Lafarge Africa Plc, a leading innovative and sustainable building solutions company and manufacturer of a range of cement brands, has officially commissioned the Freedom Plant, a state-of-the-art ReadyMix facility located in Lekki, Lagos. The launch represents another milestone in the company’s commitment to delivering innovative and sustainable solutions that power infrastructure development and economic growth across the country.

    The Freedom Plant facility is equipped with a fully automated batching system that enables seamless remote data transfer and modification. The plant can be managed and operated from any location worldwide via secure internet access. In alignment with Lafarge Africa’s sustainability agenda, the facility incorporates advanced features that enhance energy efficiency, minimize emissions, and integrate the production of eco-friendly products and solutions.

    Speaking at the launch, Mr. Lolu Alade-Akinyemi, Group Managing Director/CEO of Lafarge Africa Plc, noted, “The launch of the Freedom Plant further increases and strengthens our commitment to ‘Building Progress for People and the Planet.’ For us, this facility is not just about production, but about expanding the frontiers of innovation and sustainability in our operations, meeting Nigeria’s growing demand locally, and empowering our people through job creation and skills development.”

    “With this additional plant to our Readymix operations, Lafarge Africa has a clear strategy as a project enabler, driving quality and innovation forward and meeting the growing demands of our customers,” he concluded. 

    In his remarks, Mr. Derek Williamson, Head of Aggregates and ReadyMix at Lafarge Africa Plc, highlighted the strategic significance of the plant in strengthening the company’s footprint in Lagos. “This development complements our business extension strategy across the country. Currently, we have footprints in Abuja, Port Harcourt and Lagos.”

    “With an increased capacity of three silos which allows the facility to hold sufficient cementitious material for more than two days of operations, Freedom Plant will significantly boost our production volumes, improve customer service, and ensure product availability to meet the rising demand in Nigeria’s fast-growing economy. It would also enable us to supply our newly launched EcoCrete material along with the full range of ReadyMix products and Value Added Solutions in our portfolio,” he continued.

    Strategically located to serve the local market within a 5-kilometre radius, the Freedom Plant also provides operational support to Lafarge Africa’s existing facilities in Oniru and Lekki Phase 2. Together, these plants are designed to deliver more customer-focused solutions, a model that will be replicated as the company continues to expand its footprint across Lagos.

    The commissioning ceremony brought together government officials, customers, partners, employees, and other stakeholders, who gathered to celebrate the company’s continued leadership in sustainable building solutions.

  • Ogun Tree Planting Day 2025: Lafarge Africa Joins Ogun State in One-Million Tree Planting Mission

    Ogun Tree Planting Day 2025: Lafarge Africa Joins Ogun State in One-Million Tree Planting Mission

    Lafarge Africa Plc, a leading innovative and sustainable building solutions company and manufacturer of a range of cement brands, partnered with the Ogun State Government to commemorate Ogun Tree Planting Day 2025 by embarking on a large-scale tree planting exercise and beautification of the second entrance of the Ogun State Secretariat, Oke-Mosan, Abeokuta, on Saturday, August 9, 2025.

    Ogun Tree Planting Day 2025, observed every second Saturday of August, is an initiative of the Ogun State Government to promote environmental sustainability through afforestation. The 2025 edition, themed “Grow Trees, Sustain Life,” focused on planting one million trees across 20 local government areas in the state.

    According to the Group Managing Director/CEO, Lafarge Africa Plc, Lolu Alade-Akinyemi, who was represented by the Head of Sustainability and Sponsorships, Lafarge Africa Plc, Gabriel Pollyn, the exercise aligns with the company’s decarbonization agenda and quarry rehabilitation efforts.

    Alade-Akinyemi noted that Lafarge Africa is committed to tackling climate change, restoring degraded landscapes, and fostering a culture of environmental stewardship within local communities.

    “Tree planting is one of the most effective ways to mitigate the impacts of climate change while delivering tangible benefits to the people. At Lafarge Africa, we view every sampling as a living investment in our environment, our economy, and the well-being of future generations. Partnering with Ogun State on this initiative reflects our dedication to creating a greener, more resilient Nigeria. We plan to plant 150,000 native tree species over a five-year period in Ogun and Oyo state.” he said.

    In his remarks, the Ogun State Commissioner for Forestry, Engineer Taiwo Oludotun, highlighted the local impact of climate change, pointing to prolonged dry seasons, flooding, rising temperatures, and the resultant threats to agriculture, livestock, and public health.

    “We are not just planting trees; we are planting hope, health, and the future of our state. These are no longer distant threats; they are local problems that require local solutions. Planting trees is one of the simplest and most powerful actions we can take to preserve our environment,” Oludotun added.

    Beyond the ceremonial planting, Lafarge Africa has reiterated that it will continue working with local communities to nurture the seedlings, ensuring their survival and long-term contribution to the ecosystem.

  • Isoso Police Station: Community Leaders Urge Firms to Emulate Lafarge Africa’s Commitment to Community Development

    Isoso Police Station: Community Leaders Urge Firms to Emulate Lafarge Africa’s Commitment to Community Development

    Leaders of Isoso Community in Sagamu GRA, Ogun State, have commended the contribution of  Lafarge Africa Plc. to the construction of the first police station in the community.

    The community leaders, while speaking at the handover ceremony of the police station to officers of the Nigerian Police Force on Monday, said other companies should emulate Lafarge Africa’s commitment to the development of its host communities.

    In his address at the ceremony, the Chairman, Royal Initiative for Development of Sagamu Community (RIDSCO), Sammy Ogunjimi, narrated that the project was started by the Isoso Community leaders before RIDSCO came in, however, it was later put on hold due to financial constraints.

    “We faced challenges beyond our expectations and we reached out to Lafarge Africa to support us. They accepted and today, we are here for the handover ceremony. This would not have been possible without them. We have a lot of ongoing projects aimed at developing our community and we depend on partners like Lafarge Africa. I urge other companies to emulate what Lafarge Africa is doing. Having this police station will improve security within the community,” Ogunjimi said.

    Also speaking at the ceremony, the Ogun State Commissioner of Police, Lanre Ogunlowo PhD, stressed the need for security presence in the community. “While driving to this location, I understand the reason why there is a need for a police station in this vicinity.  Communities always want to have police presence, but there is a difference between wanting something and making it happen. We are grateful for the resolve of the community to make this happen. We will provide logistics and personnel for effective operation. I also call on the community to hold us accountable for our work and maintenance of this property. Ogun State is the most industrialized state in Nigeria and Shagamu is part of this. There is a need to provide a secure environment for businesses and we will also support them to achieve this.”

    Commenting on the project, Gabriel Pollyn, Head of Sustainability and Sponsorships, Lafarge Africa Plc., who represented the Group Managing Director/CEO, Lolu Alade-Akinyemi, said it is a demonstration of the company’s commitment to public safety and the development of their host communities. “This police station is a testament to Lafarge Africa’s dedication to fostering sustainable development and improving the quality of life in the communities where we operate,” Pollyn remarked.

    Head of the Isoso Family, Alhaji Ganiyu Oladipo, explained that the family donated the land and laid the foundation in 2020. He commended Lafarge Africa PLC for making the dream a reality, and pledged the community support for the police in carrying out their duty.

    The ceremony was graced by His Royal Majesty, Oba Dr. Babatunde Adewale (CFR) The Akarigbo and Paramount Ruler of Remo Land, represented by His Royal Majesty, Alayeluwa Oba Adewale Osiberu (Iruganyin Ekun III), the Elepe of Epe. 

  • Zenith Bank Tops Nigerian Chart Again In 2025 World Banks’ Ranking, Ranked 581st Globally With $2 Billion Tier-1 Capital

    Zenith Bank Tops Nigerian Chart Again In 2025 World Banks’ Ranking, Ranked 581st Globally With $2 Billion Tier-1 Capital

    Zenith Bank Plc has once again retained its position as the Number One Bank in Nigeria by Tier-1 Capital for the sixteenth consecutive year, according to the 2025 Top 1000 World Banks’ Rankings published by The Banker, a publication of the Financial Times Group, United Kingdom.

    In the global standings, Zenith Bank was ranked 581st in the world, backed by a solid Tier-1 Capital base of $2 billion. This firmly places the Nigerian banking giant among the leading financial institutions globally.

    The global ranking featured in the July 2025 edition of The Banker was based on Tier-1 capital figures as of the end of 2024. Tier-1 capital remains the most widely recognized metric used by international financial bodies and analysts to assess the strength and stability of banks worldwide.

    Commenting on this achievement, the Group Managing Director/CEO of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, said, “We are thrilled to have retained our position yet again as the Number One Bank in Nigeria by Tier-1 capital for the 16th consecutive year.

    “This achievement is a reflection of the bank’s robust financial performance, prudent risk management and steadfast dedication to delivering exceptional value to our customers and stakeholders”.

    She thanked the Founder and Chairman, Jim Ovia, CFR, for his visionary and transformative leadership, which has played a pivotal role in cultivating a resilient and thriving institution.

    Dame (Dr.) Umeoji also expressed her deepest appreciation to the bank’s esteemed customers for their continued loyalty to the Zenith brand, the Board for the sound corporate governance, and the staff for their relentless & tireless efforts in ensuring the bank’s success.

    Tier-1 Capital described capital adequacy, the core measure of a bank’s financial strength from a regulator’s perspective.

    According to the ranking, Tier-1 Capital, as defined by the Bank for International Settlements (BIS) guidelines, includes loss-absorbing capital, i.e., common stock, disclosed reserves, retained earnings, and minority interests in the equity of subsidiaries that are less than wholly owned.

    A strong Tier-1 capital ratio boosts investor and depositor confidence, indicating the Bank is well-capitalised and financially stable.

    According to the audited financial results for the 2024 financial year presented to the Nigerian Exchange (NGX), the Bank recorded a double-digit growth of 86% in gross earnings, increasing from N2.13 trillion in 2023 to N3.97 trillion in 2024.

    This growth was driven by a 138% increase in interest income, supported by investment in high-yield government securities, and growth in the Bank’s loan book. Zenith Bank’s profit before tax (PBT) rose by 67%, reaching N1.3 trillion in 2024 from N796 billion in 2023.

    However, this performance saw the bank record an unprecedented total dividend payout of N195.67 billion at N5.00 per ordinary share in the 2024 financial year.

    Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards including being recognised as the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022, 2024 and 2025, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and being listed in the World Finance Top 100 Global Companies in 2023.

    Further recognitions include Best Commercial Bank, Nigeria for four consecutive years from 2021 to 2024 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023 and 2024 Banking Awards. Additionally, Zenith Bank was acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards from 2022 to 2024 and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

    Zenith Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 and 2024 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and in 2024 at the BAFI Awards.

    The Bank also received the accolades of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.

    Zenith Bank was also named Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024; Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics. The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/ Public Offer of the Year’ at the Nairametrics Capital Market Choice Awards 2025.

  • WHO and Medicines Patent Pool announce sublicensing agreement for rapid diagnostic test technology

    WHO and Medicines Patent Pool announce sublicensing agreement for rapid diagnostic test technology

    The World Health Organization (WHO) and Medicines Patent Pool (MPP) have today announced a sublicensing agreement between MPP and a Nigerian health technology company – Codix Bio, to start development and manufacturing of rapid diagnostic tests (RDTs) using technology transferred from South Korean pharmaceutical producer – SD Biosensor (SDB). This agreement will contribute to advancing equitable access to vital diagnostic tools through local production, expanding manufacturing capacity in the African Region.

    The new RDT technology is especially useful for low- and middle-income countries (LMICs), as it is easy to use in health facilities without requiring additional equipment. Tests are highly sensitive and can generate results within 20 minutes. Codix Bio will initially focus on producing RDTs for HIV, but the technology can also be used for manufacturing tests for malaria and syphilis, among others. It can also be quickly adapted to other diseases, which will prove valuable during health emergencies and pandemics, contributing to improvements in health security and equity.

    “Sublicensing SDB’s RDT technology marks a major milestone in strengthening manufacturing capabilities in regions where they are needed most,” said Dr Yukiko Nakatani, WHO Assistant Director-General, Access to Medicines and Health Products. “It can help advance global commitments made at the 2023 World Health Assembly to promote equitable access to diagnostics as a cornerstone of universal health coverage and pandemic preparedness.”

    “We are delighted to have signed this first sublicense agreement for RDTs with Codix Bio. Today marks a major step forward in diversifying diagnostic production and ensuring access where it is needed most,” said Charles Gore, Executive Director of the Medicines Patent Pool. “It shows how voluntary licensing and coordinated technology transfer can empower manufacturers in LMICs, ultimately helping reshape global supply chains to become more equitable and resilient.”

    A new beginning for HTAP

    This agreement is the first to come out of a non-exclusive, transparent license between SDB and MPP, which was agreed in December 2023 under the auspices of the WHO COVID-19 Technology Access Pool (C-TAP) initiative. C-TAP has since evolved as HTAP – the Health Technology Access Programme, with the goal of reducing the access gap in underserved regions and countries by empowering capable local producers of health products (tests, vaccines, treatments and medical devices) through sublicensing, technology and know-how transfer.

    “The announcement of this sublicensing agreement with Codix Bio marks an important milestone in our partnership with WHO and MPP. By coupling the technology transfer with coordinated support, this initiative not only helps Codix Bio respond to health priorities in Nigeria and the region — it also demonstrates a collaborative model for building sustainable and self-reliant local manufacturing capacity,” said Hyo-Keun Lee, Vice Chairman of SD Biosensor, Inc. “We are proud that our highly adaptable and reliable rapid diagnostic testing technology will contribute to strengthening regional manufacturing ecosystems and expanding equitable access to diagnostics.”

    After the WHO and MPP open call was announced for applications for LMIC-based manufacturers, Codix Bio was selected as the first sublicensee. “This landmark agreement is a defining moment in our journey of health-tech innovation and a breakthrough for local healthcare manufacturing in Africa. Being selected as the first sublicensee under this global initiative underscores our commitment to contribute meaningfully to pandemic preparedness and regional health security,” said Sammy Ogunjimi, Group Managing Director/CEO, Codix Group. “With support from WHO and MPP, we are committed to producing high-quality, rapid diagnostic tests that can transform access to timely diagnosis, not just in Nigeria, but across the continent.”

    HTAP will coordinate support from across WHO and its partners, covering areas such as workforce development, regulatory compliance and product uptake. It is also continuing with evaluations for a potential second sublicensee for this technology transfer.

    Most LMICs rely on importing health diagnostics. Following fragility and heavy dependence on imported health product supplies during the COVID-19 pandemic and important lessons learnt for regional health security, there is growing momentum for improving local production and supply resilience, including by institutions such as the Africa Centres for Disease Control and Prevention (Africa CDC), the Global Fund and Unitaid.