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Banking Sector

UBA Drives Sustainable Investments in Lifestyle, Entertainment, Empowers Africa’s Creative Entrepreneurs

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1 month ago

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UBA House Marina

Africa’s Global Bank, United Bank for Africa (UBA), has pledged to continue to be at the forefront of empowering the creative industry across the continent. 

The Group Deputy Managing Director, Muyiwa Akinyemi who said this noted that with the Bank’s visionary commitment towards nurturing and promoting talent, UBA continues to make significant investment in the creative sector, such as its lifestyle and entertainment channels, REDTV and REDRadio.

Muyiwa made this submission while presenting the keynote address at the opening ceremony of the Nigerian International Film and TV Summit (NIFSTV) 2023 in Lagos on Tuesday, where he explained that the bank’s strategic endeavours have proven to be transformative catalysts, propelling the creative sector’s growth and enabling Africa’s talents to shine brightly on the global stage.

He also shared his insights on the importance of empowering the next generation of creative entrepreneurs and elevating industry standards.

“For us at UBA; we pride ourselves as Africa’s global bank, which is why we invested over a billion naira to set up the RED TV and RED Radio in 2017. These investments have been catalysts for growth, it is a platform that we have set up for entrepreneur’s creative minds, to launch themselves into the market. 

“As you can testify, UBA’s digital online television channel, has emerged as a dynamic platform championing African creativity, encompassing diverse fields such as music, fashion, film, and more. UBA’s dedication to providing emerging artists, filmmakers, and designers with the means to reach broader audiences, both locally and internationally, has solidified its role as a driving force behind the African entertainment industry’s global recognition, Muyiwa stated.

He told participants at the NIFSTV summit, that through these bold initiatives, UBA has demonstrated that it is not merely a bank but is also a powerful enabler of talent and a pioneer in fostering Africa’s vibrant creative ecosystem, as it remains poised to be the vanguard of Africa’s cultural expression and artistic ingenuity.

The NIFSTV 2023 summit brought together professionals, stakeholders, and enthusiasts from the Nigerian film and television industry, fostering discussions on innovation, collaboration, and sustainable growth.

A special Panel Session was also held at the event which focused on the Importance of Insurance and Financial Management for Film Professionals, and the panelists included the Head SME Banking, UBA, Babatunde Ajayi; Regional Head, West, Heirs Insurance Group, Gbenga Osibodu; and the Creative Director, RED TV, Olufemi Bamigbetan. It was moderated by the Founder and convener of the NIFSTV, Ijeoma Onah. 

This endeavor underscores UBA’s role as a transformative agent and a key contributor to Africa’s artistic and cultural renaissance, and as the bank continues to invest in the creative industry, it remains poised to be the vanguard of Africa’s cultural expression and artistic ingenuity.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group wide and serving over 35 million customers globally. Operating in 20 African countries and in the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Banking Sector

Zenith Bank Signs MOU With CFA Institute to Develop Finance and Investment Professionals

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3 days ago

on

December 1, 2023

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Zenith Bank Plc has signed a Memorandum of Understanding (MoU) with the Chartered Financial Analyst (CFA) Institute to promote efforts and activities that support the formation, training, and updating of human capital in finance and investment for the overall development of the Nigerian financial services sector. 

The MoU, was signed by the Group Managing Director/CEO of Zenith Bank Plc, Dr. Ebenezer Onyeagwu; the President/CEO of the CFA Institute, Margaret Franklin; and the President of CFA Society Nigeria, Ibukun Oyedeji on Tuesday, November 28, 2023.

Speaking at the MoU signing ceremony, the Group Managing Director/CEO of Zenith Bank Plc, Dr. Ebenezer Onyeagwu commended the CFA Institute and the CFA Society, Nigeria for their laudable programmes in developing finance and investment professionals in Nigeria.

According to him, your Women in Investment Management Initiative, CFA Institute Research Challenge, CFA Society Nigeria Ethics Challenge and University Affiliation Program are very laudable, and Zenith Bank will continue to partner with the CFA Institute and the CFA Society Nigeria to ensure that young finance and investment professionals get the needed support for their career development.

In his words, “As a good corporate citizen, Zenith Bank remains committed to furthering the economic, cultural and social development of the society. As such, we continue to support projects and initiatives that have long-term social and economic benefits for our various publics and stakeholders. Partnering with the CFA Institute and the CFA Society Nigeria is therefore a demonstration of our commitment to building professional excellence in the finance services industry in Nigeria”.

At the CFA Institute Africa Investment Conference, during the ‘Journey to the Top: A Discourse with CEOs’ segment, Dr. Onyeagwu inspired future finance and investment professionals to uphold the highest standards of integrity.

He stressed the importance of making difficult yet high-quality decisions, building robust networks, and dedicating themselves to hard work for career success.

In his words, “as upcoming professionals, the opportunities are immense for you. Africa doesn’t get bigger than Nigeria. There is scarcity of the right kind of people that have the talent, that have the character and the leadership to provide leadership in organizations. Make a decision to be one of those, make a decision to be different. You must be driven by your passion; you must delay gratification. In Zenith what is driving us is the strive for excellence. It is not about who you are and where you come from. We have the best class of talents you can think of anywhere in the world.”

He assured the young finance and investment professionals that Zenith Bank will offer immediate employment opportunity to CFA Charter Holders and those who qualify as Chartered Accountants.

Also speaking on the MoU, the President/CEO, CFA Institute, Margaret Franklin reiterated the Institute’s commitment to the professional development of students and upcoming professionals.

In her words, “there are many things that we do for students, we invest heavily in students and why is that? Because they are our future. The mission of the CFA Institute is to lead the investment industry with the highest standards of ethics, education and professional excellence for the ultimate benefit of society and that starts with our CFA programme”.

She commended Zenith Bank for its continued support to the CFA Society Nigeria and sponsorship of the CFA Institute Research Challenge over the years.

She also commended the bank for being one of the top employers of CFA members in the country. She expressed her admiration of the culture of excellence in Zenith Bank.

Also speaking at the MoU signing ceremony, the President of CFA Society Nigeria, Ibukun Oyedeji commended Zenith Bank for its partnership with CFA Society Nigeria and its commitment to the development of young finance professionals in the country.

The the CFA Institute Africa Investment Conference is being hosted by the CFA Institute and CFA Societies from Ghana, East Africa, South Africa and Mauritius. The conference has representatives from over 20 universities in Nigeria (members of their investment clubs being supported by CFA Society).

 

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Banking Sector

FirstBank UK Enhances Fixed-Income Workflow Through Bloomberg Integration

Published

5 days ago

on

November 29, 2023

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FirstBank Headquarter - Investors King

FirstBank UK, the UK subsidiary of First Bank Nigeria Limited, has announced its onboarding on Bloomberg’s Trade Order Management System (TOMS) to enhance its fixed-income workflow.

The integration with TOMS is expected to provide FirstBank UK with access to a comprehensive suite of data and analytics, communications, order, and execution management solutions, streamlining its fixed-income bonds business.

As a niche market-maker for its customers in Africa, FirstBank UK plays a vital role in providing market liquidity in cash bonds, particularly in Nigerian, Angolan, Egyptian, and Ghanaian Eurobonds, to manage risk and optimize its inventory.

Olukorede Adenowo, CEO-designate at FirstBank UK, expressed enthusiasm about the integration, stating, “Bloomberg TOMS provides FirstBank UK with a complete end-to-end trading workflow covering African bonds in most of our home markets. The solution enables us to focus on expanding our footprint in the African Fixed Income landscape and deliver a first-in-kind service to our customers in Africa.”

Bloomberg’s TOMS is renowned for enhancing operational efficiency across enterprises. Lisa Bravo, Global Head of Sell-Side OMS at Bloomberg, commented, “We are pleased to help FirstBank UK enhance operational efficiency across its enterprise with our award-winning sell-side order management solution TOMS.”

FirstBank UK had previously digitized its order management workflow by offering clients access to liquidity on its Eurobond Single-Dealer Platform.

The recent integration with Bloomberg TOMS aims to centralize order handling, aggregated custom analytics, and liquidity tools within a single interface, facilitating real-time access to liquidity for customers.

Robert Hagenaars, Head of Markets at FirstBank UK, highlighted the unique feature of real-time access to liquidity in their markets, providing a distinct advantage for their customers.

This move signifies FirstBank UK’s commitment to leveraging advanced technological solutions to fortify its position in the African Fixed Income market and deliver enhanced services to its clientele.

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Banking Sector

BFREE and Union Bank Explore Distressed Loan Portfolio Acquisition in Innovative Partnership

German-Nigerian Fintech BFREE and Union Bank of Nigeria to Explore Distressed Loan Portfolio Acquisition

Published

6 days ago

on

November 28, 2023

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In a strategic move to address economic challenges and adapt to the current financial landscape, German-Nigerian fintech firm BFREE and Union Bank of Nigeria have announced a Memorandum of Understanding (MoU) that explores the potential acquisition of distressed loan portfolios.

The MoU was formalized during the German-Nigerian Business Forum in Berlin, signifying a collaboration that could reshape Union Bank’s loan portfolio strategy.

BFREE, in conjunction with its international financing partners, is eyeing a potential investment cap of $40 million.

The focus of the collaboration is on refinancing non-performing loan portfolios, particularly those facing delays in repayment or already written off.

As Union Bank adjusts to economic pressures, the partnership leverages artificial intelligence to provide innovative solutions, offering increased flexibility for loan repayment plans.

Union Bank, acknowledging the challenging economic environment, has taken proactive steps to navigate uncertainties.

Executive Director of Union Bank, Joe Mbulu, expressed excitement about the strategic partnership, emphasizing its alignment with Union Bank’s commitment to innovation and adaptability.

This collaboration underscores the dedication to finding inventive solutions to address economic challenges faced by customers.

The potential acquisition of distressed loan portfolios reflects a forward-looking approach to financial management and resilience in a dynamic economic landscape.

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