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Biden Revives Trump’s Africa Business Initiative; Eyes Future Digital Project



The Biden administration on Tuesday will announce a new push to expand business ties between U.S. companies and Africa, with a focus on building needed digital, health and physical infrastructure on the continent, a senior U.S. official said.

U.S. industry executives welcome the interest but say dollar flows will lag until the Biden administration wraps up its lengthy review of Trump administration trade measures and sets a clear policy on investments in liquefied natural gas.

Dana Banks, senior director for Africa at the White House National Security Council, will kick off a U.S.-Africa business summit, with a pledge to “re-imagine” and revive Prosper Africa, an initiative unveiled by the Trump administration in 2018.

President Joe Biden, who requested nearly $80 million for the initiative in his budget proposal in May, aims to focus the initiative on women and equity, with an expanded role for small- and medium-sized businesses, she said.

Banks said the administration’s goal was to “reinvigorate Prosper Africa as the centerpiece of U.S. economic and commercial engagement with Africa,” with more details to be released soon on a companion initiative called Digital Africa.

“This is an area that is a priority both at home and abroad,” Banks said, adding that African countries were eager to expand their cooperation with the United States and its companies.

U.S. business executives warn the United States is in danger of being overtaken by China and Europe, which are already investing and concluding trade agreements across the continent.

“We can’t wait another year to devise an Africa policy; we need to be bold in our thinking,” said Scott Eisner, president of the U.S. Chamber of Commerce’s U.S.-Africa Business Center.

Eisner said that many companies had started to eye investments in Kenya given the Trump administration’s talks with Kenya on a bilateral free trade agreement, but that those plans were on ice until the Biden review of that policy was completed.

The U.S. Trade Representative’s office had no immediate comment on the status of the review.

Another hurdle is uncertainty about the administration’s policy on LNG projects.

Nigeria and other countries are eager to secure U.S. investment in such plans but are waiting to see whether the administration will back LNG investments even as it seeks to halve U.S. fossil fuel emissions.

U.S. LNG exports have surged under Biden. Meeting Biden’s goal of halving fossil fuel emissions would require the United States to stop building natural gas power plants and exporting LNG, experts say.

Biden’s policies are energy-neutral, and administration officials have been tight-lipped about any specific plans on LNG investments. The U.S. Development Finance Corporation had no immediate comment on its policy on backing LNG projects.

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DLM Capital Group Unveils Child Education Plan

DLM Asset Management, a DLM Capital Group subsidiary, has launched its Child Education Plan.



DLM Capital Group

DLM Asset Management, a DLM Capital Group subsidiary, has launched its Child Education Plan. This aligns with the firm’s commitment to providing opportunities for parents/guardians to secure the education of their children or wards through effective planning and sustainable investments.

The DLM Child Education Plan aims to provide parents and guardians with an easy and appropriate way to handle the burdens of tuition payment through efficient planning and long-term investments.

In other words, it is a suitable and flexible investment plan that enables parents/guardians to plan and fund their children’s education from kindergarten to tertiary levels.

The DLM Child Education Plan allows you plan and invest in your children’s education on a monthly, quarterly, or annual basis.

The company explained that the Child Education Plan also allows investors to tailor their plans according to their specific needs or situations.

The DLM Child Education Plan is divided into three (3) plans: the Silver plan, which requires a minimum of N20,000 per time, the Gold plan, which requires a minimum of N100,000 per time, and the Platinum plan, which requires a minimum of N250,000 per time.

Furthermore, the DLM Child Education Plan provides the option of working with an advisor who will provide relevant and useful information while guiding the client through the entire planning process.

Speaking about the new product, George Aniegbunem, Head DLM Asset Management, stated, “Despite the recent economic meltdown, most parents and guardians will agree that the importance of education cannot be overstated.”

As a result, the DLM Child Education Plan was implemented to provide a sustainable and dependable plan for funding a child’s education at all levels of education (mostly primary, secondary, and tertiary levels).

Indeed, the current economic situation and high inflation rate have put tremendous strain on many families; thus, we are here to help with strategies that would provide a suitable plan, financial literacy, and the ease of funding children’s education in a seamless manner’’.

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FBN Holdings Announces Appointment of Executive Directors

FBN Holdings, one of the largest banking and financial services organizations in Africa has announced the appointments of two executive directors based on the board approval.



FirstBank Headquarter - Investors King

FBN Holdings, one of the largest banking and financial services organizations in Africa has announced the appointments of two executive directors based on the board approval.

The board approved the appointment of Mr. Samson Oyewale Ariyibi as an Executive director, Investment Management and Oversight of FBN Holdings Plc while Mr. Patrick Iyamabo was appointed as an Executive Director, Chief Financial Officer (CFO) of the flagship subsidiary, First Bank of Nigeria Limited.

About Mr. Samson Oyewale Ariyibi

Mr. Samson Oyewale Ariyibi is an award winning professor with about 32 years work experience, spanning bank and allied financial services, business assurance, tax management and consulting, having served in senior management roles at various global organizations and proudly Nigerian companies including, Ernst and Young(EY), Pricewaterhousecoopers, Standard Chartered Bank and Transnational Corporation of Nigeria (TRANSCORP) where he was the chief financial officer prior to joining FBN Holdings.

Oyewale Joined FBN holdings September 2013, as the pioneer Head of Finance. He was promoted to General Manager and appointed as the Chief Financial Officer in 2016. He holds a Bachelor’s degree second class honors upper division in Microbiology from the University of Ilorin and a master’s of business administration (MBA) marketing from the University of Lagos. He is a fellow of the institute of chartered accountants of Nigeria (FCA), Associate of the Chartered Institute of Taxation (ACIT) the Chartered Pension Institute of Nigeria (CPIN) and the Institute of Directors (IOD) of Nigeria. He is an alumnus of the advance management Programme of the Kellogg school of Management at Northwestern University and has attended several local and international workshops, conferences and executive training programs.

Adewale L.O Arogundade, Acting Company Secretary, disclosed in a statement obtained by Investors King.

Patrick Iyamabo Profile

Patrick Iyamabo is the Chief Financial officer of First Bank of Nigeria limited and it’s subsidiaries. Prior to joining First Bank in 2016, he was a senior Vice President of strategy and M&A at First City Monument Bank(FCMB) Limited, and then the Group Chief of Financial Officer of FCMB Holdings Plc. Patrick has over 27 years professional experience in assurance and risk management, business development, accounting and finance with Nigerian and multinational institutions both within and outside the country.

Earlier in his career, he also worked with Pfizer in Lagos and New York.

Patrick also worked at Arthur and Andersen (AA) as auditor and strategy consultant, where he was also a co founding member of the information risk Management practice of AA. At various times, Patrick worked Booz Allen Hamilton in New York and LEK Consulting in Boston, providing Strategic management and specialized corporate finance services to private and listed companies.

Patrick holds a Bachelor’s degree in Pharmacy from Ahmadu Bello University, Zaria and MBA From the prestigious Wharton Business School, University of Pennsylvania, USA.

He is a member of various professional bodies including Fellow, Institute of Chartered Accountants of Nigeria (FCA), Associate, Chartered Institute of Taxation of Nigeria (ACITN); Honorary Senior Member of the Chartered Institute of Bankers of Nigeria (HSM) and Certified Information Systems Auditors (CISA).

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Access Holdings Appoints Olanrewaju Bamisebi as Executive Director Information Technology and Digitalization

Access Holdings Plc has appointed Mr. Olanrewaju Bamisebi as Executive Director, Information Technology and Digitalization following the approval of the Central Bank of Nigeria.



Access bank

Access Holdings Plc has appointed Mr. Olanrewaju Bamisebi as Executive Director, Information Technology and Digitalization following the approval of the Central Bank of Nigeria.

Mr. Bamisebi is a seasoned professional with over 2 decades of experience spanning across information technology, consultancy, project management, talent management and development, application development as well as strategy and automation.

He has a robust Pan-African experience having managed information technology across 22 African countries in consulting, telecom, oil and gas, banking and fintech sectors.

Prior to his appointment, Mr. Bamisebi was Managing Director of FinServe Africa (Fintech arm of Kenya-based Equity Bank) and the Group Director for IT & Operations for Equity Group Holding Limited (EGHL), Kenya. Before joining EGHL in April 2019, he was the Group Chief Information Officer at the defunct Diamond Bank Plc where he resigned as a Deputy General Manager.

Mr. Bamisebi holds a Higher National Diploma in Computer Science from The Polytechnic Ibadan and two bachelor’s degrees, one in Accounting from Olabisi Onabanjo University and the other in Computing & Information Technology from the University of Derby, UK. He also obtained a master’s degree in Business Administration from Durham Business School, UK and is currently undertaking a doctorate degree in Global Strategy.

Commenting on this appointment, Mr. Osunkoya, the Chairman of the Corporation said; “Mr. Bamisebi has been selected based on his exceptionally rich, professional, academic and corporate board experience which is relevant to the needs of the Board.

“We are strongly convinced that he would be a strong contributor to the attainment of the Corporation’s strategic vision of building a globally connected community and ecosystem, inspired by Africa for the world”

The appointment notice was updated on Nigerian Exchange Group and signed by Mr. Sunday Ekwochi the company’s secretary.

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