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Moghalu Urges FG to Make Nnewi full manufacturing Hub in Nigeria

Former Deputy Governor of the Central Bank of Nigeria, CBN, and presidential candidate of the Young Progressive Party, YPP, Prof. Kingsley Moghalu, has called on the federal government to make Nnewi a full manufacturing hub in Nigeria to serve as a panacea for the chase for foreign investment.

Moghalu, who made the call weekend during the Nnewi 2020 Investment Summit contended that Nnewi would hardly become a successful manufacturing hub based on the efforts of the private sector alone hence the need for the federal government to provide the necessary amenities to make businesses thrive in the area.

Muoghalu who was the lead speaker at the event lamented that the federal and state governments in Nigeria are always on the move, looking for foreign investments, when it could support a huge manufacturing hub like Nnewi to reach its limit and in turn help in growing the nation’s economy.

He said, “Nnewi is the only industrial town in the whole world that is growing without the support of government. A huge manufacturing hub that was started from the scratch by indigenes of the town and has continued to grow without the support of the government.

“It will not be out of place to say that the federal government has abandoned Nnewi. Do you know what people in Nnewi will do if what government did at the Lekki Free Trade Zone is done here?

“Let me tell you, manufacturing sector is the easiest way to grow the economy of a country. It doesn’t matter the number of mineral resources you have. How many mineral resources does China have? You can only survive by manufacturing and exporting your products, and that is why China is surviving today.

“That is why I always say that the chase for foreign Investment is a wild goose chase. If you create the right environment, investments will come. Money knows where to go and multiply, you do not need to go asking it to come. Instead of pumping in Naira to rival the dollar, why not create a manufacturing hub and once products are exported and foreign exchange is earned, you will see the economy grow on its own,” Muoghalu said.

Muoghalu also tasked the Nnewi business community to show maximum interest in politics. He contended that politics influences public policy, and that when the right kind of people are in political offices with ideas that can drive business and manufacturing, then, businesses would not face as many problems as they were facing presently in Nigeria.

Mr Kelechi Nwosu, the CEO of TBWA, a leading marketing company and co-sponsors of the event in his welcome address said that the summit is an inaugural event put together to rub minds on ways to scale up growth in Nnewi.

Earlier, the member representing Nnewi North, Nnewi South and Ekwusigo Constituency at the national assembly, Hon. Chris Emeka Azubogu, said the dream of the greater Nnewi industrial hub could be achieved when government provide needed infrastructure to drive manufacturing and also reshape policies that would help drive industries.

According to him, “Government has to work hard to ensure that the policy on energising the economy works in Nnewi. Again, Nnewi business community has to generate power locally; I mean independent power source. When we get reliable, affordable and sustainable energy and support it with what we are getting from the national grid, it will stimulate both economic and industrial growth.”

USAID, UNITED BANK FOR AFRICA SIGN MEMORANDUM OF UNDERSTANDING TO ADVANCE THE TWO-WAY TRADE AND INVESTMENT GOALS OF PROSPER AFRICA

Assistant Administrator of the U.S. Agency for International Development’s(USAID) Middle East Bureau, Michael T. Harvey, Acting Assistant Administrator in the Bureau for Africa at the U.S. Agency for International Development,(USAID) Christopher Maloney, E.D Treasury & International Banking UBA, Abdoul-Aziz Dia, Group Head, Consumer & Retail Banking, UBA Jude Anele during the signing of the memorandum of understanding to advance trade and investment goals of Prosper Africa, held in Tunisia on Thursday

U.S Agency for International Development (USAID) through the Prosper Africa initiative is partnering with the United Bank for Africa (UBA) to increase two-way trade and investment between the United States and the nations of Africa.

This partnership ensures businesses are equipped with the technical and financial tools they need to enter into new trading and investment relationships in Africa and the United States.

USAID will provide technical assistance and advisory services to prospective businesses through its Trade and Investment Hubs, and will connect UBA with African Diaspora business groups working across the United States.

The MOU enables UBA, the only sub-Saharan African bank licensed to operate in the United States, to expand access its reach and extend financing to American companies in the United States looking to do business with African nations.

Recognizing tremendous growth opportunities, USAID and UBA are collaborating to advance Prosper Africa’s goal of substantially increasing two-way trade between Africa and the United States.

By working together, they will extend financing and technical assistance to businesses that will strengthen the American economy, grow African economies, and create jobs on both sides of the Atlantic.

The two institutions entered into this agreement as part of the opening ceremony of the Tunisia Prosper Africa Conference, co-organized by the U.S. Embassy in Tunis and the American Chamber of Commerce of Tunisia.

The event facilitated U.S. and African business-to-business connections and featured remarks by key representatives from the U.S. Government and the U.S. and African private sector.

For general press inquiries, please contact Press@USAID.GOV.

UBA Revamps NextGen Account with Premium Offerings, Partners DRB LasGidi

… Attracts Zero Charge On All Transactions

Pan-African financial institution, United Bank for Africa (UBA) Plc, has revamped its NextGen account which targets students in tertiary institutions and members of the National Youth Service Corps (NYSC), with added features and benefits.

NextGen is a suit of personal accounts designed to meet the needs of young persons, grooming and growing with them from teenage years to adulthood. The bank takes up an additional role of mentorship these young ones and assists with tips towards guiding their future. The added benefits would confer premium services to the young account holders.

UBA, which operates in 20 African countries, introduced NextGen Account to encourage active savings among young people and teach them to manage their money effectively while enjoying world-class services that suite their lifestyles

Jude Anele, Group Head, Retail Banking, UBA said the importance of inculcating in young people the culture of saving and being finance-wise cannot be overemphasized, hence the importance the bank attached to the account.

“The NextGen Account is our way of putting students in charge of their money so they can do more, especially at this critical stage of their lives with an account that comes free of fees,” Anele said.

“The new NextGen Account opens students and NYSC members up to several benefits and opportunities, including multiple digital channels that makes banking just another fun thing to do on their mobile phones,” the Retail Banking head added.

As a plus, the NextGen Account holders stand to win pocket money, complimentary invites to prime events and enjoy zero charge on all transactions.

Group Head of Marketing Dupe Olusola, who also spoke about the revamped NextGen Account disclosed that NextGen which the bank says is more than just an account, will partner with DRBLasGidi, a three-member group to ignite the interest of young people in the offering.

“DRB LasGidi have proven to be culture shapers, pioneering the popular Alté (meaning alternative) movement, which promotes self-confidence and encourages young people to embrace their individuality.

“As the face of the Alté subculture in Nigeria, DRB LasGidi is a perfect representation of the NextGen lifestyle of self-confidence and uniqueness,” Olusola said.

Bolaji Ojodukan popularly known as BOJ, who spoke on behalf of DRB LasGidi, expressed excitement at the partnership.

“Like most young people today, we were just being ourselves. But now, we have a movement and now our own bank; the Alté Bank of Africa,” BOJ said.

To open a NextGen Account, https://www.ubagroup.com/nextgen-account/ .

To become a Campus Ambassador, visit https://www.ubagroup.com/campus-ambassadors/.

Also watch video here: https://youtu.be/C6QdAqPh10M

UBA Rewards 100 Customers with N10m in New ‘UBA Bumper Account’ Promo

…N2M Up For Grabs Every Quarter

+ N100,000 Monthly Shopping Allowance

Mr. Kenedy Uzoka, Managing Director UBA Plc

Pan African financial institution, United Bank for Africa (UBA) Plc on Tuesday, launched the ‘UBA Bumper Account’, a hybrid account, targeted at transforming the lives of its customers. The new account is in line with the bank’s mission of creating superior value for its stakeholders while encouraging saving cultures among Nigerians.

The account, carefully crafted to improve the lives of the UBA customers, will offer account holders an opportunity to win cash prizes of up to N2 million.

Speaking during the launch and monthly draw which was held at the UBA Head Office, in Lagos on Tuesday, the Group Head, Retail Banking, Jude Anele said, the New ‘UBA Bumper Account’ was created with the customer in mind.

Anele said, “We have in recent times deepened our focus on the most important aspect of our business – the customers we serve. Hence, our huge investment in technology to make banking easier and seamless, even as we introduce new offerings such as this Bumper Account, that will deliver improved value to stakeholders.

He explained that new and existing customers of the bank need to ensure they have a minimum deposit of N5,000 in their UBA Bumper Account to qualify for draws. According to him, current UBA customers are to dial *919*20*1# to migrate to the UBA Bumper Account whilst potential customers should dial *919*20# if interested in opening a UBA Bumper Account.

In the first draw which was held live during the official launch in Lagos today, a total of 100 customers emerged winners as the Bumper to Bumper Crooner, Wande Coal serenaded guests with his famous hit songs to the delight of all present.

“A total of 100 customers emerged winners at the live draws which took place here today, and as you have seen, some of our customers here present were part of the lucky ones who won N100,000 each. From here on, lucky customers will win from N10,000 to N2 million each in the monthly, quarterly and targeted draws,” Anele stated.

He added that a monthly shopping allowance of N100,000 for a year is also up for grabs. “No fewer than 50 account holders will get a whopping N2 million each across all participating regions. This account is open to both existing and new customers of the bank who save a minimum of N5,000,” Anele noted.

Amos Wisdom, one of the winners present, could not hide his joy when he was announced as one of the winners. “I am still very amazed. Before I came here, I had the conviction that I would win. All my life, I have never won anything like this, and I am very happy that I won this time. Thank you so much UBA,” he said.

Another winner, Ohagbelum Peace, who could not believe it when her name was announced said if she wasn’t present herself, she would not have believed in promos like the UBA Bumper Account. “I am very grateful. This is a new experience for me and I am now a number one fan of UBA. This has re-enforced my belief for this bank.”

The Deputy Director and Co-ordinator, National Lottery Regulatory Commission was present during the event to ensure that winners were properly selected in a fair manner without prejudice. She noted that the commission had worked with UBA in many promos in the past without any issues.

The Head Consumer Banking, Chiedu Ibeku appreciating the customers present, said, “we had two major objectives for this account which is to say a big thank you to our customers for being there and most importantly, to encourage a savings culture. Our intention is not only to reward loyalty but also to transform the lives of our customers for good”.

“UBA will not relent, because we are aware that if our customers succeed, we ultimately succeed too and this will spur us on to make the desired impact in their lives,” she said.

10 Years Impact: Tony Elumelu Foundation Enhances its Flagship Entrepreneurship Programme to Benefit More Entrepreneurs Across Africa

Following ten years of impact and current 9,631 beneficiaries, Tony Elumelu Foundation enhances the TEF Entrepreneurship Programme to empower more entrepreneurs
Thousands of entrepreneurs to receive business training
Continent wide Pitching competition to herald the final selection of entrepreneurs to receive seed capital funding

A Cross-section of African Entrepreneurs at the TEF Entrepreneurship Forum

On the heels of the tenth anniversary of the Tony Elumelu Foundation (TEF), the private-sector-led philanthropy focused on empowering African entrepreneurs has enhanced its flagship Entrepreneurship Programme to empower more entrepreneurs across the continent.

These enhancements, which took effect from January 1, 2020—the launch of the 6th cycle of the Programme—will achieve the Foundation’s mandate to transform the African continent through entrepreneurship.

Most prominent among the enhancements are the new dates in the Programme cycle, its emphasis on providing thousands of entrepreneurs with business training, and its focus on leveraging technology to optimise the application and selection process as well as personalise the journey of each applicant in the Programme tailored to their knowledge and business stage.

The Programme cycle has been updated to place more emphasis on getting more entrepreneurs through the business training. Hence, the announcement of the finalists, who will ultimately be inducted into the TEF Alumni network, will no longer be held on March 22 but will be made at the TEF Forum – the largest entrepreneurship conference in Africa.

Maximising the value derived from the Programme, applicants will now receive instant feedback on their progress to the next stage of the Programme, following their applications. Shortlisted applicants will receive business training tailored to their business stage and for those who move to the next stage mentorship and finally the top performing entrepreneurs from each country will proceed to the business pitching competition, which will determine the finalists to receive seed capital and an induction into the Foundation’s fast-growing alumni network across 54 African countries.

The TEF Entrepreneurship Programme is the $100million commitment by investor and philanthropist, Tony O. Elumelu, CON through his investment company, Heirs Holdings. The Programme has become a beacon of hope for African entrepreneurs, currently empowering 9,631 beneficiaries across 54 African countries with training, mentorship, seed funding and exclusive access to global opportunities as well as a strong entrepreneurial community.

Princess Adeyinka Tekenah, TEF Alumnus from Nigeria with her locally sourced and processed coffee

Mohammed Dhaouafi, TEF Alumnus from Tunisia with his affordable, 3D printed, bionic customiseable prosthesis.

TEF Alumni such as Ugandan Kwabena Danso who manufactures bicycles and its accessories from bamboo is one of the thousands of beneficiaries whose business has expanded beyond the shores of Africa to a global market, and is one of the success stories and impact recorded by the Programme’s innovative approach to the sustainable development of Africa. Others include Mohammed Dhauoafi from Tunisia, founder of Cure, a 3D printed, biosynthetic prosthesis manufacturing company and Princess Adeyinka Tekenah from Nigeria whose coffee making business has been dubbed Africa’s Starbucks by The Financial Times.

The application for the 2020 cohort of the TEF Entrepreneurship Programme is open till March 1, 2020 on TEFConnect.com.

Access Bank Supporting Marathon to boost Tourism, GDP

With the 2020 Access Bank Lagos City Marathon fast approaching, the headline sponsor and Africa’s largest Bank in terms of retail size, Access Bank Plc has reiterated that its sponsorship of the race is geared towards improving the economic and social outlook of the state.

While speaking about the marathon, the Group Managing Director of Access Bank Plc., Herbert Wigwe said, “As one of the leading banks in Nigeria and indeed Africa, it is imperative for us to support the economic and social development of the communities in which we operate.

“Hence, we have sponsored the Access Bank Lagos City Marathon for five years to make Lagos State more attractive to tourists and foreign investors alike. We have also used this platform as an avenue to create more jobs and opportunities to thousands in the state,” he added.

He went further to add that, “to ensure that the impact of the marathon, as felt in Lagos State, is duplicated and sustained, we have also begun sponsoring marathons and other sporting events across different states in Nigeria as highlighted by our sponsorship of the Abeokuta marathon.”

With over 100,000 participants recorded across the last two editions of the Access Bank Lagos City Marathon, Wigwe said he expects the trend to continue as the marathon which has moved up from a Bronze Label marathon to a Silver Label, less than five years after its maiden edition, continues to garner the respect of top international and local athletes alike.

This year’s edition of the marathon billed for February 8 offers a cumulative prize of 500,000 USD to be won by contestants.

ZENITH BANK EMPOWERS NIGERIAN SMES, PARTNERS FACEBOOK ON SME DIGITAL WORKSHOP

Nigeria’s leading financial institution, Zenith Bank Plc, has reaffirmed its commitment to support local Small and Medium Scale Enterprises (SMEs) with the introduction of the ‘Zenith Bank SME Digital Workshop’ to provide free digital training for business owners.

The initiative, which is being organized in partnership with social media giant Facebook, will provide free training on how SMEs can use digital platforms such as Facebook, Instagram and WhatsApp to grow their businesses.

Commenting on the initiative, the Group Managing Director/Chief Executive, Mr. Ebenezer Onyeagwu, noted that the SME ecosystem is a very important component of the Nigerian economy and the digital workshop is expected to assist participants optimally use digital channels to engage potential customers, market their products and increase sales.

The workshop is scheduled to hold on Wednesday, January 29th and Thursday, January 30th, 2020 by 08:30 a.m. at the following Zenith Bank branches: 23, Oba Akran Avenue, Ikeja, Lagos; 201, Ikorodu Road, Obanikoro, Ilupeju, Lagos; and 2, Aromire Road, Ikoyi, Lagos.

The Zenith Bank SME Digital Workshop is free for everyone. To register, send an email with the subject “Zenith Bank SME Digital Workshop” to smepartnership@zenithbank.com. The email should state the name of the participant and preferred venue of attendance.

Zenith Bank Plc is recognized as one of the most innovative financial institutions in Nigeria and was voted the most customer-focused bank in Nigeria for the Retail and SME segments in the 2018 KPMG Annual Banking Industry Customer Satisfaction Survey (BICSS). Most recently, the bank won the Best Bank in Retail Banking and the Bank of the Year at the 2019 BusinessDay Banks and Other Financial Institutions (BOFI) Awards and was ranked as the Best Digital Bank in Nigeria 2019 by Agusto & Co.

FIRSTBANK WINS BEST MOBILE BANKING APP AND FASTEST GROWING RETAIL BANK AWARDS

First Bank of Nigeria Limited has been named 2019 “Best Mobile Banking App” and “Fastest Growing Retail Bank” winner by Global Business Outlook. The Global Business Outlook Award recognises and rewards excellence in business in companies across the world, both in the public and private sectors. The award rewards innovation, creativity and the drive to create value.

FirstBank earned the Fastest Growing Retail Bank recognition because of its leading role in promoting financial inclusion in the country, a drive which has resulted in its 44,000 Agent Banking network designed to complement the provision of bespoke financial services at its over 750 branches nationwide.

It also won the Best Mobile Banking App award thanks to its Firstmobile banking app’s capability at performing a wide range of financial transactions in a safe, adaptable, futuristic and efficient manner. The user friendly app is widely renowned for its ease of navigation and state of the art security features to mitigate risk against fraud.

In the course of 2019, FirstBank bagged numerous awards across various areas of its business operations. The awards comprise Women Empowerment Category – Sustainable Banking Awards by CBN Bankers Committee, Best Private Bank in Nigeria 2019 by Global Finance Magazine and World Finance Magazine respectively; Best Process Automation Initiative, Application or Programme by Asian Banker International Excellence in Retail Financial Services; Best Banking Brand Nigeria 2019 by Global Brands Magazine; Best Retail Bank in Nigeria by Global Banking and Finance Review and Asian Banker International Excellence in Retail Financial Services Awards respectively; Cashless Driver: Highest Volume in Bill Payments and Highest Transaction Volume in Real-Time Payments by CBN Electronic Payments Incentive Scheme (EPIS) – Efficiency Awards; Long Service Corporate Award by Nigerian Economic Summit Group; Best Financial Inclusion Program – Nigeria 2019 and Bank of The Year – Nigeria 2019 by International Investor, amongst many others.

Speaking on the awards, Folake Ani-Mumuney, the Bank’s Group Head, Marketing & Corporate Communications said, “We appreciate the recognition of these awards by the respective awarding bodies. The awards are dedicated to all our customers across the globe as their continued patronage of our services is appreciated. We remain steadfast and would not rest on our laurels at rendering bespoke financial services tailored to meet the financial needs of our valued customers, irrespective of where they may be.”

Double Honour as CIPRMP and Avance Media Induct and Nominate Seyi Tinubu

World richest man and founder of Amazon in one of his famous quotes said, “Work hard, have fun, make history”. These will best be used to described the trend at which young and hardworking Chairman of Loatsad Promomedia, Seyi Tinubu is living.

Seyi who is known for his hard working and his fun loving lifestyle has recently been making history by the number of awards that are trailing him, recently, Chartered Institute of Public Resources Managers and Politics, an organisatuion based in Ghana decided to honour the humble but hard-working man by inducting him into 2020 Fellowship Hall of Fame of the organization.

The delegation headed by Dr. Richard Kpoku-Aquarte in his speech described the Loatsad Chairman as a man of an uncommon professional of excellence in a class of his own, he also address his as a pace-setter media innovator, a multi-dimensional business executive of unparalleled distinction and a boardroom strategist.

Dr. Kpoku-Aquarte explained further that the Fellowship is to honour people from all nations especially those those who have proven themselves as embodiments of Integrity, Transparency and Accountability in their various leadership positions. He also listed Otunba Gbenga Daniel (former Governor of Ogun State), Mr. Stephen Onasanya (former M.D. of First Bank of Nig Plc), Barrister Adebayo Shittu (former Nigerian Minister of Communications), Prof. Abdil Kareem Age Sulyman (VC University of Ilorin) and many more important dignitaries as some individuals that has been inducted into the Fellowship in the past.

In the same vein another organization, Avance Media, a Public Relations & Rating company that has for some times been honouring young Africans that are making positive impact in their different countries to encourage them to do more, recognizes his contribution and has since nominated him for the annual honor.

Announcing the nomination on his Instagram page, Seyi Tinubu attributed his nomination to the hard work and dedication of the Loatsad Promomedia team and his partner Denrele Olusoga, in the message he stated “Congratulations to the @loatsad_promomedia team, this is an affirmation of their hard work which has led to my nomination for @avance_media‘s 2019 100 Most Influential Young Nigerians in Business. It’s been a collective effort and journey so credit must be given to my team and partners”.

The list which is being compiled and voted for yearly started about five years ago and has had names of influential Nigerian young men and women like; Davido, Wizkid, DJ Xclusive, Funke Akindele, Kelechi Anyikude, Amaka Osakwe, DJ Cuppy, John Obi Mikel, Linda Ikeji, IK Osakioduwa, Toke Makinwa and many more young Nigerians.

The list according to the organisers headed by Prince Akpah is to “serve as an encouragement to young Nigerians who are accomplished in their industries and continue to build distinguished brands for themselves and influence over others. The list also urged those honoured to continue striving harder so that their story can inspire other young people to also contribute their quota to the development of Nigeria and the continent of Africa.”

UBA Connect Set to Deepen Intra-African Trade…Customers Can Now Make Cash Withdrawals In Local Currencies

Pan African financial institution, United Bank for Africa (UBA) Plc, has announced the official launch of a flagship product UBA Connect, a service that enables the customers of the bank to conduct traditional banking transactions at any UBA branch in the 20 African countries where the bank operates.

The service, which is available to both customers and non-customers alike, is expected to encourage intra-Africa trade, as cash withdrawal can now be done in local currencies within the continent while deposits can also be made at any location regardless of where the account is domiciled.

The Chief Executive Officer, UBA Africa, Mr. Oliver Alawuba, who spoke about the product, said, “Africa stands to benefit substantially from intra-Africa trade, which is facilitated by the easy flow of capital within the continent. As a bank committed to creating superior value for all its stakeholders, we are focused on ensuring that we continue to contribute significantly to the development of Africa by improving accessibility and trade with UBA Connect, among other innovative services.”

He explained that the new offering allows easy transfers to UBA accounts across African countries as well as cash deposit into UBA accounts at any of the bank’s locations in Africa, adding that the cash will be dispensed to customers in local currencies at competitive exchange rates.

Group Head, Marketing, Mrs. Dupe Olusola, said, “We’re thrilled to be able to offer our customers the ease and convenience of UBA Connect. This is in addition to an array of digital platforms which have made banking seamless for more than 12 million people who have trusted us with their money.

To use the service at any UBA business location in Africa, a UBA Connect Send, Receive or Transfer form needs to be completed, with valid identification (International passport with valid visa or migration stamp, in the case of ECOWAS member countries).