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Tag: Standard bank Group

  • Standard Bank Group Backs Dangote IPO listing, Expansion Drive

    Standard Bank Group Backs Dangote IPO listing, Expansion Drive

    Africa’s largest financial institution, Standard Bank Group, has reaffirmed its commitment to support the growth of Dangote Industries Limited, pledging backing for the planned listing of the Dangote Petroleum Refinery while expressing readiness to finance future expansion projects across the continent.

    The commitment came during a strategic visit by Standard Bank Group Chief Executive, Sim Tshabalala, and senior executives to the Dangote Petroleum Refinery and Dangote Fertiliser complex in Lagos.

    Speaking after touring the facilities, Tshabalala described the refinery as a transformational industrial project with far-reaching implications for Nigeria and Africa.

    “We are here because the Dangote Group is a large and important global player and a significant force on the African continent,” he said. “Standard Bank is the largest financial institution in Africa and we have partnered with Dangote on a variety of initiatives. We are here to lend support, to see this magnificent refinery and to discuss Vision 2030 and how we can continue supporting the Group’s growth ambitions.”

    Tshabalala disclosed that Standard Bank intends to play a leading role in the refinery’s planned Initial Public Offering and future growth initiatives.

    “As Dangote lists, there is an IPO coming up and we are a leading player in that process,” he said. “As the Group continues to expand in Nigeria and across Africa, there will be opportunities for financial advisory services and balance sheet support, and we stand ready to provide both.”

    He described the refinery as “a wonder of the world,” noting that its impact is already being felt through stronger foreign exchange earnings, improved balance-of-payments performance and enhanced energy security.

    “This is a wonder to behold. It is massive, productive and transformative. It is already making a significant contribution to Nigeria’s economy through its impact on foreign reserves, the balance of payments and the lives of ordinary Nigerians,” he said.

    Group Vice President, Oil and Gas, Dangote Industries Limited, Devakumar Edwin, said the visit represented a significant milestone in a partnership that began during the refinery’s construction phase.

    “The bank visited us during construction and understood the scale of what we were building,” Edwin said. “Today, the refinery is fully operational and they can see what their support has helped to create. It is like nurturing a tree and eventually seeing it bear fruit.”

    He added that both organisations are exploring opportunities to deepen collaboration as Dangote expands its industrial footprint across Africa.

    Managing Director and Chief Executive Officer of the Dangote Petroleum Refinery, David Bird, said the visit highlighted the importance of long-term partnerships in delivering large-scale industrial projects.

    “Standard Bank has been one of our strongest supporters throughout the history of the refinery and the broader Dangote Group,” Bird said.

    “This visit was an opportunity to demonstrate what that support has enabled. Seeing is believing, and it allows our partners to appreciate the scale of what has been achieved.”

    The visit also coincided with a major operational milestone for the refinery, which has now exceeded its original design capacity.
    Bird disclosed that the refinery recently completed performance test runs at 700,000 barrels per day, above its nameplate capacity of 650,000 barrels per day.

    “We have always believed there was engineering flexibility built into the design,” he said. “Achieving sustained production of 700,000 barrels per day is a testament to the technical capability of our people and the strength of the systems we have built.”

  • Roosevelt Ogbonna Outlines Vision for Future of Banking in Global Africa at Bloomberg Africa Business Summit

    Roosevelt Ogbonna Outlines Vision for Future of Banking in Global Africa at Bloomberg Africa Business Summit

    At the recent Bloomberg Africa Business Summit, some of the continent’s most influential banking leaders convened to address a defining question for Africa’s economic trajectory: How can the continent sustainably fund its own growth in an increasingly interconnected world?

    Roosevelt Ogbonna, Managing Director/CEO of Access Bank, delivered a compelling perspective on this theme, offering a forward-looking view of what banking in a “Global Africa” must become.

    Speaking to an audience of global investors, policymakers, and private-sector executives, Ogbonna began by highlighting the underlying resilience of African markets despite prevailing geopolitical uncertainties. Citing Nigeria’s most recent Eurobond issuance, which was oversubscribed multiple times, he noted that investor appetite continues to respond positively to reform-driven environments.

    “Markets are more intelligent than the narratives that often surround Africa,” Ogbonna stated. He emphasised that transparency, disciplined governance, and sustained policy reforms are sending clear signals that resonate with global capital pools. These conditions, he added, are laying a stronger foundation for financing Africa’s next phase of growth.

    Looking ahead, Ogbonna, who spoke alongside Sim Tshabalala, CEO of Standard Bank Group and Kenny Fihla, Group CEO of Absa Group, articulated a bold vision of Africa not merely as a consumer market, but as a global hub for trade, innovation, and production. With abundant talent, natural resources, and emerging technological infrastructure, the continent is ideally positioned to move up the value chain, from exporting raw materials to manufacturing and delivering value-added products domestically.

    For Access Bank, he explained, this translates into a commitment to full-spectrum banking that supports every layer of economic activity: retail, SMEs, corporate entities, and investment-driven sectors such as renewable energy, digital infrastructure, and industrial processing.

    Ogbonna further underscored the strategic advantage for African banks as many Western institutions reduce their footprint across the continent. Access Bank’s own pan-African expansion, he noted, reflects a Global Africa strategy rooted in deep local expertise, a nuanced understanding of diverse markets, and the ability to deliver solutions foreign institutions often overlook.

    “The objective goes beyond profitability, It is about catalysing growth, strengthening ecosystems, and driving development across regions and sectors.” he said.

    According to Ogbonna, the future of banking in Africa will hinge on leaders who pair global perspective with strong local ownership. This means engaging international capital markets while simultaneously investing in Africa’s infrastructure, talent, and homegrown enterprise. It also requires a deliberate effort to challenge the “perception premium”, the persistent risk bias that inflates the cost of capital for African countries and businesses.

    He argued that overcoming these barriers and unlocking domestic capital flows will be essential for advancing continental trade, innovation, and large-scale development initiatives.

    Ogbonna expressed confidence that Africa possesses everything required to finance and shape its own future: rich resources, abundant talent, and a rising generation of innovators. What remains critical is the vision and leadership to align these assets with a truly global African ambition.

    The Bloomberg Africa Business Summit served as a powerful reminder that Africa’s financial destiny will not be defined externally. Instead, it will be crafted by Africans who are ready to lead, invest, and build a future grounded in the principles of a “Global Africa.”

  • Stanbic IBTC Holdings PLC Announces the appointment of a substantive Group Chief Executive

    Stanbic IBTC Holdings PLC Announces the appointment of a substantive Group Chief Executive

    The Board of Stanbic IBTC Holdings PLC (the “Company”) is pleased to announce the appointment of Mr. Chukwuma (Chuma) Nwokocha as the substantive Group Chief Executive, with effect from 02 October 2025, following the receipt of all required regulatory approvals. 

    Mr. Nwokocha’s appointment follows the completion of Dr Adekunle Adedeji’s tenure as Acting Chief Executive, during which time the Board undertook a formal appointment process in accordance with regulatory requirements. Dr Adedeji will continue in his role as Executive Director/Chief Finance and Value Management Officer of the Company.

    Commenting on the development, Mrs Sola David-Borha, the Chairman of the Company, expressed the Board’s delight at Mr Nwokocha’s appointment, highlighting his strong track record in board governance, financial oversight, strategic transformation as well as regulatory engagement. 

    The Chairman also extended the Board’s deep appreciation to Dr Adedeji for his exemplary leadership and dedication; and for steering the affairs of the Company and Group during the transition period: “It is worthy of mention that under Dr Adedeji’s leadership, the Group recorded its best financial performance since inception. The Group also successfully completed its Rights Issue Programme which ensured that its banking subsidiary met the

    Central Bank of Nigeria’s recapitalization requirements ahead of the 31 March 2026 deadline.” 

    Mr. Nwokocha is a seasoned banking executive and chartered accountant with over three decades of leadership experience across Africa. He has held several Chief Executive and Board-level roles in leading financial institutions including Chief Executive, Standard Bank, SA; (the Mozambican subsidiary of the Standard Bank Group), driving strategic growth, governance, and operational excellence. His expertise spans retail and corporate banking, as well as mergers and acquisitions.

    The Board is confident that Mr. Nwokocha’s leadership would be instrumental in driving the growth strategy of Stanbic IBTC Group into the future.

  • President Ruto, Samaila Zubairu and Africa’s Top Chief Executive Officer’s (CEO) to Headline The Africa Debate in London

    President Ruto, Samaila Zubairu and Africa’s Top Chief Executive Officer’s (CEO) to Headline The Africa Debate in London

    …The Africa Debate will convene over 700 senior decision-makers from across government, finance, and industry for a full day of high-level exchanges

     Invest Africa is pleased to announce Africa Finance Corporation (AFC) as Headline Partner for the 11th edition of The Africa Debate, taking place on Wednesday, 2 July 2025 at the Guildhall, in the heart of the City of London.

    This year’s theme — “Harnessing Natural Capital for Growth” — seeks to interrogate how Africa can transform the scale and structure of investment around its most enduring assets: from its critical minerals and fertile land to its human ingenuity and demographic dynamism.

    Now firmly established as the UK’s premier forum for Africa-focused investment dialogue, The Africa Debate will convene over 700 senior decision-makers from across government, finance, and industry for a full day of high-level exchanges. Through keynote addresses, ministerial dialogues, and curated sector debates, the programme will explore how to turn extractive advantage into structural transformation — mobilising green industrialisation, digital infrastructure, intra-African trade, and new financial instruments to drive inclusive, climate-smart growth.

    This year’s speaker line-up reflects the extraordinary breadth of voices shaping Africa’s next chapter, from heads of state to the stewards of global capital. Highlights include: H.E. William Ruto, President of the Republic of Kenya; H.E. Hailemariam Desalegn Boshe, Former Prime Minister of Ethiopia; Board Chair, TradeMark Africa; H.E. Wamkele Mene, Secretary-General, African Continental Free Trade Area Secretariat; Benedict Oramah, President, Afreximbank; Samaila Zubairu, President & CEO, Africa Finance Corporation; Abebe Aemro Selassie, Director, African Department, International Monetary Fund; Solomon Quaynor, Vice President for Private Sector, Infrastructure & Industrialisation, African Development Bank; Strive Masiyiwa, Founder & Chair, Econet Wireless; Duncan Wanblad, CEO, Anglo American; Wale Tinubu, CEO, Oando Plc; Monique Gieskes, CEO, PHC; Marie-Chantal Kaninda, President, Glencore DRC; and more. The full programme is now available to view here (http://apo-opa.co/4ljJqbx), with detailed sessions on value chain transformation, blended finance, regional infrastructure, and Africa’s positioning in a multipolar global economy.

    Samaila Zubairu, President and CEO of Africa Finance Corporation, commented: “Natural capital is only as valuable as the systems that refine, protect, and elevate it. At AFC, we believe that infrastructure is the bridge between Africa’s resource richness and the continent’s ability to rapidly industrialise and take its rightful place on the global stage. Our partnership with Invest Africa and The Africa Debate underscores the need for thoughtful, long-term capital — deployed strategically — to unlock the continent’s full economic potential. We are proud to support a platform that challenges assumptions and catalyses bold, bankable solutions.”

    Chantelé Carrington, CEO of Invest Africa, added: “Africa’s path to prosperity must be built not on extraction, but on transformation. This year’s theme compels us to ask harder questions about how we steward the continent’s assets — human, natural, and institutional — in a world shaped by climate change, technological disruption, and shifting geopolitical priorities. With AFC’s visionary leadership, we are honoured to convene a dialogue that is ambitious in scope, rigorous in thought, and focused on meaningful outcomes.”

    Confirmed Sponsors of The Africa Debate Include: Africa Finance Corporation (Headline Partner), Absa Group, Afreximbank, FirstBank UK Limited, Invest KZN, Standard Chartered, Standard Bank Group, Plantations et Huileries du Congo, Lagos Free Zone (Tolaram), Octopus Energy, ServiceNow, Stellar Developments, Spiro, Safaricom, Premier Invest, Remittances Hub, S-RM, DLA Piper, and London Stock Exchange Group.

    To register as a delegate for The Africa Debate, please visit: https://apo-opa.co/4efWGM0. Places are limited and advance registration is essential.

  • 2024 Broadband Development Congress whitepaper launch highlights Artificial intelligence’s (AI) role in sustainable fixed networks

    2024 Broadband Development Congress whitepaper launch highlights Artificial intelligence’s (AI) role in sustainable fixed networks

    …this informative document explores how AI-enabled solutions improve operational efficiencies, reduce energy consumption, and lower carbon emissions

    The 2024 Broadband Development Congress: Cape Town, hosted by the World Broadband Association (WBBA) during Africa Tech Festival 2024, brought together global industry leaders and stakeholders from the operator, technology, ministerial, and banking sectors to address the critical challenges and opportunities in expanding broadband access across Africa.

    In addition to showcasing broadband adoption success stories, a highlight was the launch of a whitepaper, The Role of AI in Fixed Networks Sustainability. This informative document explores how AI-enabled solutions improve operational efficiencies, reduce energy consumption, and lower carbon emissions while supporting sustainable and resilient fixed broadband infrastructure.

    With broadband subscriptions up by 22% in the past year, and broadband service revenues forecast to grow 45% to $6.7 billion in 2029, the conference emphasised the importance of partnerships and innovation.

    Collaborative solutions to Africa’s broadband challenges

    With over 130 global members and a growing African membership, the WBBA is a multilateral, industry-led association providing leadership for digital broadband innovation. The organisation’s objective is to overcome industry challenges and support the drive toward the provision of broadband networks and services for all. The 2024 Broadband Development Congress: Cape Town provided the perfect platform to achieve these goals.

    Key discussions and expert insights

    Delivering the event’s opening address, Dr. Li Zhengmao, Chairman of the World Broadband Association, discussed broadband’s transformative role in Africa’s digital landscape, highlighting the continent’s rich resources and bright digital future. Nfaly Sylla, Chief of Staff at Guinea’s Ministry of Posts, Telecommunications and Digital Economy, reinforced this message, showcasing initiatives like the National Data Centre and its role in digital growth.

    Ke Ruiwen, Executive Director, Chairman, and CEO of China Telecom, outlined the evolution of telecom companies into ‘techcos’ and Africa-focused investment strategies. Reflecting on the whitepaper theme, Norbert Prihoda, Deputy CEO of Tunisie Telecom, emphasised AI’s impact on broadband deployment.

    Dr. Sunil Piyarlall, Network Architecture and Modelling Executive at Openserve, called for equitable digital infrastructure access, and Pieter Viljoen, CEO of Yangtze Optics Africa Cable, explored scalable fibre production models for Africa.

    A dynamic panel addressed critical themes like investments, regulatory frameworks, and financing models, with experts from Omdia, Gambia Telecom, Africa Cyber Defense Forum, MTN, Standard Bank, and ZTE Corporation discussing practical steps to accelerate broadband deployment.

    Tebogo Moloi, Head of Cloud Engineering at Standard Bank Group, highlighted the role of digital infrastructure in supporting banking services and enhancing customer experiences across Africa. Kim Jin, Vice President and CMO of Huawei’s Optical Business Product Line, presented on the company’s initiatives to support broadband expansion in Africa, suggesting African carriers consider monetisation models to drive digital economy and revenue growth.

    In the closing address, WBBA, Director General, Martin Creaner, discussed the concept of smart sustainability and how AI is transforming broadband through smarter network planning, optimisation, and management. He elaborated on the key themes of The Role of AI in Fixed Networks Sustainability whitepaper, reiterating that the biggest challenge identified – ensuring data availability and quality – is a call to action for operators aiming to maximise AI’s benefits.

    Get the whitepaper

    The whitepaper, The Role of AI in Fixed Networks Sustainability, is now available for download (https://apo-opa.co/4icS8r4) on the WBBA website. It provides essential guidance for industry leaders navigating the path toward a sustainable, digitally connected Africa.

  • We are working with stakeholders to reduce settlement cycle – NGX

    We are working with stakeholders to reduce settlement cycle – NGX

    Due to the current reforms and competition among exchanges in global financial markets, Nigerian Exchange Limited (NGX) on Thursday revealed that it is working assiduously with the Central Securities Clearing System (CSCS) Plc and other stakeholders to reduce the settlement cycle from T+3 to T+1 over the next few years.

    This was even as the Exchange said it will continue to seek and explore the use of advanced technological tools such as Straight Through Processing (STP) of equity transactions to enhance transparency in the Nigerian capital market (NCM).

    The Divisional Head, Capital Markets, NGX, Jude Chiemeka stated this during the virtual NGX Retail Workshop themed; STP of Equity Transactions, organized in collaboration with Central Securities Clearing System (CSCS) Plc and United Capital in Lagos.

    Chiemeka, while commending CSCS and United Capital, explained that the equities market is constantly evolving and it is imperative that the Exchange keep up with the latest trends and technologies to ensure that as a platform provider, it provide investors the best possible service.

    According to him, STP is a mechanism that automates the end-to-end processing of transactions of financial instruments and also provides a means of electronically capturing and processing transactions from the point of first deal to final settlement.

    Citing examples of how well STP worked in other climes, Chiemeka said that STP, which was launched in India last year with a settlement cycle of 15 days, now has a cycle of 2 days, thus putting the India capital market in the elite group of advanced markets of the world while adding that the NGX is working assiduously with the CSCS and other stakeholders to reduce the settlement cycle from T+3 to T+1 over the next few years.

    He said, “However, this initiative can be achieved with the use of technology such as STP and adopting the STP will help in increase market transparency, avoid costly duplication of work and manual intervention, reduction in risks and errors, faster data capturing, processing and reporting generation, increase the overall market efficiencies and volumes of trade make the market cost effective and provide effective regulation by systematic audit trail.

    In view of this, NGX will continue to explore the use of advanced technological tools such as STPs to ensure that the investing public conduct their transactions in a more efficient and seamless manner”.

    Giving insights on the benefits of STP, the Regional Head, Business Technology and Digital Innovation at CSCS, Tobe Nnadozie, said that the mechanism will create seamless settlement for investors and help to get real time enterprise Know-Your-Customer (KYC) integration. Nnadozie added that even though the STP might be expensive now, it will become cheaper in the long run.

    For her part, Martha Ehizele, Digital Channels and Partnerships lead at United Capital Securities, the STP mechanism will help in bringing youths (especially those who are not investing) to the capital market.

    The Head, Investor Service Product Management, Transactional Products and Services at Standard Bank Group, Hari Chaitanya, said the STP is quick and allows investors to have easier access to wide range of products, mitigate risks and reduces cost of operating in the market.

  • Onyeali-Ikpe, Olusanya make top 10 on 2023 definitive list of women CEOs

    Onyeali-Ikpe, Olusanya make top 10 on 2023 definitive list of women CEOs

    The third annual Africa.com Definitive List of Women Chief Executive Officers (CEOs) was revealed on April 19.

    Nneka Onyeali-Ikpe, Managing Director/CEO, Fidelity Bank Plc and Miriam Chidiebele Olusanya, Managing Director, Guaranty Trust Bank made the top 10 list. Both companies are listed on the Nigerian Exchange Limited (NGX).

    The list is unique in that it is based on data-driven research. Sponsored by Standard Bank Group, it represents one of the first analyses of the performance of publicly listed companies in Africa conducted through a gender lens.

    This year’s list of 93 women represents 17 countries who have qualified based on either large-scale revenue or large-scale market capitalisation.

    BusinessDay check shows the list includes 40 women from South Africa, 12 from Nigeria, and 6 from Egypt, Ghana and Kenya respectively.

    Africa.com analysed 2,020 companies listed on the 24 African stock exchanges. Of the 2,020 companies, Africa.com screened for those companies with revenue of $100 million or more, or a market cap of $150 million or more, which yielded a list of 787 companies.

    The public websites of all 787 companies were examined to identify female C-suite executives. The team then researched each woman to determine those who have a title of chief executive officer or managing director or president AND conducted a review to confirm that these executives have bottom line, profit and loss responsibility for the companies. This resulted in 40 women CEOs on group 1.

    The methodology for group 2 is identical to the methodology for Group 1, except that the entities evaluated were the divisions of the 787 companies, such that the divisions themselves have standalone revenue of $100 million or more.

    The women running these divisions must have a title that clearly demonstrates that they are the chief executive with profit and loss responsibility for the division. This analysis yielded 28 women division heads.

    Group 3 started with an analysis of global corporations with revenue over $10 billion who have operations in one or more countries on the African continent.

    The regional heads of these companies were analysed to identify women executives for an Africa region or an African country, with profit and loss responsibility for the country or region. This analysis yielded 25 women. Women in this group are ranked by prioritizing those who run the Africa region ahead of those who run a single African country.

    The three groups make up the final Definitive List of 93 women listed below. The 40 women from Group I are: Natascha Viljoen, CEO, Anglo American Plc, a company listed on Johannesburg Stock Exchange; Nompumelelo Zikalala, CEO, Kumba Iron Ore Ltd, also listed on Johannesburg Stock Exchange. Others are: Mpumi Madisa, CEO, Bidvest Group, a Johannesburg Stock Exchange listed company;
    Bertina Engelbrecht, CEO, Clicks Group Ltd, also listed on Johannesburg Stock Exchange.

    Also on the top 10 list include Nombasa Tsengwa, CEO, Exxaro Resources, listed on the
    Johannesburg Stock Exchange; Albertinah Kekana, CEO, Royal Bafokeng Holdings, listed on the Johannesburg Stock Exchange; Jane Karuku, Group Managing Director & CEO, East African Breweries, listed on Nairobi Stock Exchange; Ntombi Felicia Msiza, CEO, Raubex Group Ltd, listed on the Johannesburg Stock Exchange,

    Africa.com is a media holding company with an extensive array of platforms that reach a global audience interested in African content and community.

  • Stanbic IBTC Adopts School In Gombe State

    Stanbic IBTC Adopts School In Gombe State

    Stanbic IBTC Holdings, a member of Standard Bank Group announced it had adopted Kurba Community Primary School in Yamaltu Deba LGA in Gombe state school as part of its Adopt A School Programme.

    The school, which was established in 1975, and with a current population of 400 students was selected to become part of the programme.

    Stanbic IBTC Adopt A School Programme is a CSR initiative aimed at improving the quality of education for children all over Nigeria by identifying, adopting and renovating public schools thereby creating model learning centres for children.

    Dr Demola Sogunle, Chief Executive, Stanbic IBTC, who spoke on the handover of the school said “The adoption of Kurba Community Primary school falls under Stanbic IBTC’s Social, Environmental and Economic (SEE) impact areas of education, health, and financial inclusion”. “It is also in line with the United Nations Sustainable Development Goal (SDG) 4 which focuses on free, equitable and quality primary and secondary education for children by 2030”, he added.

    He further said, “Stanbic IBTC believes every child should get educated in an environment conducive to learning. As a socially responsible organisation, we ensure that we contribute our quota to development of individuals and institutions in all communities we operate in, which is why we are here today in Kurba Community”.

    To kick-start the adoption of the school, Stanbic IBTC renovated and rebuilt classrooms blocks, renovated the toilets and equipped the classrooms and teachers’ offices with furniture. Trees were also planted in the school as part of the organisation’s commitment to achieving net zero emissions by 2050 in Nigeria.  Students and Staff of the Kurba Community Primary School were also granted access to training and learning opportunities as part of benefits of the Adopt A School Programme.

    In his speech, the Permanent Secretary, Gombe State Ministry of Education, Mr Mohammed Galadima, thanked Stanbic IBTC Holdings for the adoption of Kurba Community Primary School and implored other organisations to emulate Stanbic IBTC.

    Stanbic IBTC Holdings said it remained committed to improving the learning conditions of Nigerian students and providing opportunities to improve the number of educated children in the country.

  • Stanbic IBTC Restates Commitment to Improve Multisectoral Nigerian Businesses

    Stanbic IBTC Restates Commitment to Improve Multisectoral Nigerian Businesses

    Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has expressed its unwavering commitment to improving and supporting Nigerian businesses across all sectors, the organisation said in an official launch and media briefing to unveil its proposition for businesses of different sizes and across different sectors

    The leading end-to-end financial services provider revealed a bouquet of offerings that cater to businesses in all sectors, locally and internationally. These offerings are innovative financial solutions across the agribusiness, education, engineering, trade, commerce, telecoms, manufacturing, healthcare, maritime, real estate, oil and gas financing, debt capital markets, equity capital markets, principal finance solutions, and equity capital markets, amongst other sectors, and are for businesses of all sizes from SMEs to national and multinational companies operating in these sectors.

    The unveiling ceremony showcased the need to partner Nigerian businesses and support them through their challenges and demonstrated the limitless solutions and possibilities via collaboration. The Executive Director, Business and Commercial Clients, Stanbic IBTC Bank, Remy Osuagwu, stated that the organisation is repositioning to reflect the Nigerian local and international business scene while creating solutions that address the growth challenges affecting Nigerian businesses.

    He said: “We know that some businesses struggle because they think they can grow alone, but the truth is no business can survive without the right partner.  We are glad that we are positioned as an experienced financial partner to support business growth”. 

    The main idea behind our launch is to showcase all the financial solutions, including advisory services that businesses can take advantage of to meet their growth aspirations, especially in the face of the current challenging operating terrain. Stanbic IBTC’s solutions are thoughtfully created to meet the needs of business across diverse sectors.”  according to Remy, “one of our solutions, the Africa-China Trade Solution (ACTS), facilitates trade dealings, imports, and exports with China. Our customers in that line of business are covered because it grants African enterprises access to new markets, expands their customer base, and creates a mutually beneficial relationship between the two countries and the rest of the Asian continent.”

    Speaking on strategic solutions for Corporates, Eric Fajemisin, Executive Director Corporate and Investment Banking, Stanbic IBTC Bank, said “We strive to be a valued and trusted partner to our clients, by offering opportunities and risk management strategies . As a member of the Standard Bank Group, we leverage our 160 years heritage, fit-for-purpose representation outside Africa, and a strategic partnership with the Industrial and Commercial Bank of China (ICBC) to provide tailored solutions to our clients. We connect our clients to opportunities across Africa and beyond through our proven experience in emerging markets, local insight and our on-the-ground presence in 20 countries in Africa”.

    He said, Our Global Markets team offers a range of trading and risk management solutions across different asset classes in the financial markets, including foreign exchange positions, interest rate protection, and hedges in the Equities and Commodities market. Our Investment Banking team provides a full suite of advisory and financing solutions, from term lending to highly structured and specialised products across the equity and debt capital markets. Our Transactional Products and Services team provides a range of transactional solutions, including cash management, international trade, and custodial and securities services, primarily across Africa. Our Client Coverage team is made up of specialist relationship managers that work to develop clients business and aspirations, and in turn link them to the full capabilities of Stanbic IBTC, and our specialist products. In this way, we provide all the operational support, insight, and personalised service needed to profitably scale the business”

    The TV commercials unveiled during the event spoke to the limitless possibilities of business solutions offered by the organisation to all its clients.

    Stanbic IBTC reiterates its dedication to equipping entrepreneurs and businesses with beneficial facilities for their growth and the expansion of the nation’s economy.

  • Fidelity Bank Redeems $400m Eurobond Notes

    Fidelity Bank Redeems $400m Eurobond Notes

    Fidelity Bank plc (“Fidelity Bank” or the “Bank”) announced today the redemption of the $400,000,000.00 Eurobond Notes due October 17, 2022. 

    On October 17, 2017, the bank successfully issued a US$400 million 5-year Eurobond. The transaction also included a Tender Offer (the “Tender Offer” or “Offer”) for the refinancing of the Bank’s US300million Senior Unsecured Notes issued in May 2018.  The transaction was the largest combined new issue & liability management offering ever by a Nigerian issuer and was well received by analysts and investors. 

    The transaction which was managed by Citigroup Incorporated, Renaissance Capital and Standard Bank Group Limited achieved an oversubscribed order book of $630million. Upon final maturity of the Eurobond, noteholders received a total of US$421 million covering the principal amount and the accrued 6 months coupon in line with the executed Trust Deeds.   

    According to the Bank’s MD/CEO; Nneka Onyeali-Ikpe, “the liquidation of the notes despite the strong headwinds in the domestic economy – especially when viewed against the backdrop of short dollar supply, is a testament to the strong liquidity position of the bank and the resilience of our balance sheet”. 

    Fidelity Bank is one of the leading financial institutions in Nigeria. According to its interim audited result for the mid-year 2022, the Bank reported strong financial ratios with a capital base of N3.7trillion, PBT of N25bn and a return on equity (ROE) of 15.4% evidencing the efficient management of the bank’s assets. 

    In recognition of its commitment to product innovation and strong corporate governance, the Bank was recently recognized as the Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards. The bank also won the 2022 Platinum Award of the Development Bank of Nigeria for its leading role in disbursing loans to focused sectors. In addition, it was recognized as the 2021“Fastest Growing Bank” in Nigeria and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

  • Stanbic IBTC Explores Avenues To Achieve Net Zero Emissions

    Stanbic IBTC Explores Avenues To Achieve Net Zero Emissions

    Stanbic IBTC Holdings, a member of Standard Bank Group, resolved to explore avenues to achieve net zero emissions by 2050, with the hope to create a more sustainable future for all. The organization had since embarked on several laudable initiatives to meet the commitment.

    As described by the United Nations, an organization would attain ‘net zero’ when it had fulfilled its pledge to cut greenhouse gas emissions to as close as zero as possible, while any residual emissions are re-absorbed from the atmosphere.

    In 2020, Stanbic IBTC deployed hybrid solar systems in some of its branches and off-site ATMs across the country, which reduced its total carbon emission by 1.67 tonnes. In addition, the organization reduced its paper usage from printing and photocopies by 30 percent across branch locations on the Go-Green branch initiative. Reduction in paper usage indirectly contributes to reduced tree-felling for paper production.

    In 2021, the financial institution held a sustainability webinar tagged: ‘Working Towards Net Zero Emissions’, as part of the Stanbic IBTC 2021 Sustainability Week event. The webinar aimed to promote public awareness of the impact of climate change and provide practical methods toward carbon footprint reduction and net zero emissions achievement.

    Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Holdings PLC said, “Stanbic IBTC remained committed to addressing issues that relate to climate change and creating an environment that is friendly and habitable for all Nigerians”. 

    Demola pointed out that in line with the Paris Agreement adopted by 196 countries to reduce global warming and build resilience to climate change, the financial institution had taken pragmatic steps aimed at reducing paper usage and carbon emission.

    “We cannot ignore our responsibility in addressing current climate changes. Through small adjustments leading to a more conscientious and sustainable lifestyle, each of us can take part in the global climate protection project,” Demola said.

    “As reflected in one of our strategic value drivers SEE (Social, Environmental and Economic) Impact, Stanbic IBTC is focused on ensuring it does business responsibly whilst positively impacting the society and environment where we operate. Our value drivers serve as the anchor for Stanbic IBTC environmental footprint management, which includes the reduction of carbon emissions, and effective waste management.”

    Speaking in the same vein, Kunle Adedeji, Executive Director, Finance and Value Management noted that the financial organisation strives to accelerate the development of a more sustainable future for all.

    He said: “We have already commenced various workstreams that will help us on the journey towards net zero emissions. Some of these include understanding our energy sources, consumption patterns and possible areas for efficiency; adoption of cleaner energy sources in our office locations, leveraging natural gas and solar energy solutions; and adoption of tree planting programmes which will help us with carbon sequestration.”

    Stanbic IBTC remains committed to reducing global warming by taking part in the global climate protection project to make the world a better place.

  • Stanbic IBTC Set To Host 2022 Africa-China Trade Expo

    Stanbic IBTC Set To Host 2022 Africa-China Trade Expo

    Stanbic IBTC Holdings PLC, a member of Standard Bank Group, would host the 2022 Stanbic IBTC Africa China Trade Expo as part of its efforts at promoting trans-regional trade and development between Nigeria and China. The trade expo would feature a panel discussion, masterclasses on trade, a presentation on the Stanbic IBTC Africa China Trade Solutions and a fully virtual exhibition.

    The two-day hybrid conference and exhibition-themed “Synergy For Growth’ is slated for 10 and 11 August 2022, and is geared at providing insights and opportunities for participants. The event would serve as an avenue to showcase Nigerian and Chinese exhibitors, and would as well provide opportunities to build relationships within the trade community.

    The physical conference is planned to feature keynote speeches and panel discussions by highly experienced subject matter experts and thought leaders in relevant industries and would be an opportunity for exporters and importers to engage and create a marketplace experience.

    Speakers slated for the event include Philip Myburgh, Head, Pan-African China Banking, Standard Bank Group; and Ade Otukomaya, Head, Africa China Banking, Stanbic IBTC Bank. Others are Remy Osuagwu, Executive Director, Business and Commercial Clients, Stanbic IBTC Bank; and Wole Adeniyi, Chief Executive, Stanbic IBTC Bank PLC.

    The panel discussion, with the theme ‘Promoting Export Activities through Synergy’, would have Samuel Oyeyipo, Deputy Director and Regional Coordinator, Nigerian Export Promotion Council, South West Regional Office, Lagos; Luthando Vuda, Head, Africa China Trade in Business and Commercial Clients, Standard Bank Group; Jane He, Business Manager, Pan Africa China Banking, Business and Commercial Clients, Standard Bank Group, Fola Abimbola, Analyst, Senior, Frontier Africa Equity Research, Stanbic IBTC; and Victor Ayemere, Chief Executive, Zeenab Foods Limited, Operators of the Nigeria Export Trade House China/Far East Region as panelists.

    Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Holdings, spoke on the rationale for the conference. He highlighted that the Stanbic IBTC Africa-ChinaTrade Expo hybrid Conference and Exhibition would be geared at showcasing Nigeria and China trade opportunities while emphasizing  the role of Stanbic IBTC in facilitating inter-regional trade.

    “China is Africa’s biggest trading partner by far and can foster strong trade routes and economies of scale, offering an incredible opportunity to do more than just import goods. With the emphasis on building strong synergy and relationship between China and Nigeria, the Stanbic IBTC Africa-China Trade Expo is expected to provide insights into Nigeria and China trade relations and the role of Stanbic IBTC as a facilitator of inter-regional trade, as well as provide advisory services, allowing trade partners access and unlock the opportunities in Nigeria-China trade,” Demola said.

    “The topics for discourse at the two-day hybrid conference and exhibition would centre on building synergy between Nigeria and China’s economies, building synergy between government agencies and driving export activities through policies and initiatives. Other topics would include building export activities in partnership with Stanbic IBTC and promoting competitive advantage for enhancing export.”

    “The exhibition would also showcase vendors who export from Nigeria to China and vice versa, spanning across agriculture, manufacturing, equipment, processing and packaging firms,” Demola added.

    The Chief Executive noted that through its Africa China Trade Solution (ACTS) and other networks of relations between Africa and China, the financial service provider continued to facilitate economic trade and development between Africa and the Asian country.

    Stanbic IBTC’s trade solutions such as Stanbic IBTC Africa China Trade Solutions (ACTS) continued to enable settlement of international transactions and mitigation of payment risk while providing regional solutions such as issuance of payment guarantees and letters of credit to Nigerian exporters.

    Click here to register for the event.

  • Stanbic IBTC Urges Women To Engage in Wealth Building Investments

    Stanbic IBTC Urges Women To Engage in Wealth Building Investments

    As part of efforts to continually advance women entrepreneurs in Nigeria, Stanbic IBTC Holdings PLC, a member of Standard Bank Group has called on women to engage in wealth building investments for the collective progress of their finances and businesses.

    This was disclosed at the Women in Management, Business and Public Service (WIMBIZ) June 2022 Roundtable Session themed: ‘The Woman and Her Money: Empowerment through Business, Trusts, Private Banking, StockBroking, and Insurance’.

    The Women in Management, Business and Public Service (WIMBIZ) is a non-profit organisation focused on increasing and supporting the success rates of female entrepreneurs and the proportion of women in senior positions in corporate organisations and public service.

    Over the years, WIMBIZ has inspired, empowered and advocated for better representation of women. Speaking at the roundtable session, Busola Jejelowo, Executive Director, Investment Management, Stanbic IBTC Asset Management Limited, stated that despite the positive impact that women-owned businesses have on the society, there are still untapped wealth building opportunities that can be explored to improve their businesses and finances.

    She said: “Despite the challenges women face, we continue to play a significant role in driving the economic, social and cultural development of our communities. In Nigeria, more than 41 percent of small businesses in Nigeria are run by women, with over 23 million female entrepreneurs operating in this segment. Imagine if all these women begin to invest their funds in veritable assets. The returns they will get on their investments will be indeed substantial. However, many women are not aware of financial opportunities due to the low level of financial literacy in the nation. This is part of the reason why we have organised this event.”

    According to her, the theme of the session is centered around how investing in Business, Trusts, StockBroking, Insurance’ and other financial properties can greatly benefit women in today’s world.

    “We are proud to say that over the years, Stanbic IBTC has helped a lot of Nigerian women build sustainable wealth, despite the general economic outlook. One of our core initiatives is to organise free capacity building sessions for individuals. As people from different works of life and especially as women, we need to cultivate the habit of savings and investing our funds, which will be used to acquire assets,” she added. 

    The Executive Director, Clients Solution, Stanbic IBTC Bank, emphasised that the focus of the conference was to primarily build the confidence of the businesswoman in the Nigerian market and provide a platform for sensitising women on wealth creation through opportunities with alternative investments, access to business financing and working capital, use of insurance to protect their wealth and many more.