Category: Business

Shoprite and South African retail giants Steinhoff International on Wednesday said they were in talks to merge their African operations to form a single company worth over $14 billion. The companies said in a statement they had initiated talks “regarding the potential combination of their respective African retail businesses” with an objective of creating what could be regarded as “the retail champion of Africa”. The new venture to be called Retail Africa would have annual revenues of about 200 billion rand ($14.6 billion). The companies said the proposition of this…

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Access Bank has won the World Finance Award for the ‘Best Sustainable Bank of the Year 2016’. The award was received by the Bank at the London Stock Exchange in the United Kingdom. The award focuses on the role of commercial and investment banks in sustainable development examining recent trends in banking and sustainable development, innovative banking practices, and events that have shaped the role of the banking sector in sustainable development. Group Managing Director/CEO of Access Bank, Herbert Wigwe said, “Winning this award for the third year in a…

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Heritage Bank Plc, Nigeria’s most innovative banking service provider, has partnered Entrepreneurship Development Centre (EDC) of the Pan African University (PAU) as part of its strategic plan to identifying and supporting Micro, Small and Medium Scale Enterprises (MSME) in the country. The Bank supports EDC to also celebrate “Global Entrepreneurship Week (GEW)”, a celebration of the innovators and job creators, who launch startups that bring ideas to life, drive economic growth and expand human welfare. During one week each November, GEW inspires people everywhere through local, national and global activities…

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Fidelity Bank Plc held the 3rd Draw/1st Quarterly Draw of the Fidelity Get Alert in Millions Savings promo at its corporate Head Office in Lagos. So for Salman Umar Musa, Christmas came way too early this year as he emerged the star prize winner of N5 million in the quarterly/third monthly draw of the ongoing Fidelity ‘Get Alert In Millions’ promotion. It was such an outpouring of emotions as Musa could hardly believe his ears when Executive Director, Shared Services & Product, Chijioke Ugochukwu delivered the delightful news via a phone call. Designed…

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Nigeria’s foremost financial Institution, First Bank of Nigeria Limited has restated its commitment to economic diversification through support for the business, art and entertainment of food across all sectors of the economy. Realising that support for the agricultural value chain and by extension, food will enable individual and communal self-reliance, self-contentment and self-sufficiency. The bank is taking ownership of the food space to fully promote businesses that will build the sector, build revenue for development purposes, create employment opportunities and in the long run translate to national growth and development.…

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Heritage Bank Plc has described recent negative reports about the bank in the social media as the handiwork of de-marketers  who are jittery over the bank’s achievements within the short period of its existence. It said in a statement, Saturday, that unrelenting and persons are keen on dragging the name of the bank in the mud have once again began spreading absolutely false reports about the bank in the social media”. ” The bank went on: “The spurious report published on a social media platform on Friday, falsely and maliciously,…

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Mr Kingsley Ubenyi, the Managing Director of Kesley Mega Micro-Finance Bank, was rescued by the Enugu police from being lynched by the bank’s aggrieved customers on Wednesday. The spokesman of the Police Command in Enugu, Mr Ebere Amaraizu, said that the rescue of the bank boss came as a result of prompt intervention of a police patrol team after a security tip-off by some members of the public. Amaraizu said the incident happened at about 5 p.m. on Wednesday at the De-Dome Event Centre in New Haven, Enugu. He said…

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Retaining the Monetary Policy Rate (MPR) at 14 per cent by the apex bank would negate growth of manufacturing sector. This was said yesterday by Mr Frank Jacobs, President, Manufacturers Association of Nigeria, MAN. The MAN president also said that maintaining the present rate would prevent the manufacturing sector from coping with the current recession. The Central Bank Governor, Mr Godwin Emefiele, had announced MPC decision to retain the MPR at 14 per cent at the end of its two-day meeting last week. Apart from retaining the MPR at 14…

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Heritage Bank Plc is set to introduce a promo tagged, ‘Happy Days Promo’ to empower and reward its teeming loyal customers. The promo which is additionally designed to encourage savings at this period of tight economic situation will see the emergence of a winner of a brand new car and a handful of millionaires from across the country when it kicks off in full swing next week (December 1, 2016). On a monthly basis, 12 lucky customers will be rewarded monthly with 42-inch flat screen LED television sets in the…

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Diamond Bank has opened a window of money management opportunity that enables parents and guardians plan and save for the future of their children through a simplified and high interest yielding target savings plan. The financial product, known as ‘Diamond Future’ according to a statement from the bank, does not only enable parents to save, but also to teach their children to develop healthy savings habit and build prudent expenditure profile and diverse investment portfolio. According to the bank, Diamond Future was created and launched into the market in 2014…

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