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Heritage Bank Plc, Nigeria’s Most Innovative Banking Services Provider, has taken its campaign for concerted efforts for the growth of agribusiness and commerce in Nigeria to another level as it wants the bilateral agreement signed by Lagos and Kano States to provide for a Commodity Exchange.
The two states signed the Memorandum of Understanding (MoU) on yesterday at the Lagos-Kano Economic and Investment Summit held at the Jubilee Chalets, Epe, Lagos. The goal of the pact was to ensure the collaboration between the two states boost commerce and agribusiness and consequently increase the revenue generation by the states.
Speaking at the event during the plenary session on: Growth & Investment Opportunities in Agribusiness – Value Chain Approach, Olugbenga Awe, Group Head, Agric Financing, Heritage Bank, said there was an urgent need for the establishment of a Commodity Exchange; stating that it would provide the platform necessary for the success of the MoU signed by the states.
Awe said if the Exchange was established, it would make future contracts between traders and speculators in both states and others more possible and thereby enhance agribusiness in the country generally. Specifically, he stated that the establishment of a Commodity Exchange would help to put the activities of grain farmers and others in Dawanau market, Kano; and others in spotlight.
According to him, the volume of agribusiness and commerce going on daily in Dawanau market, which is the hub of grains and seeds trading across the world, needs to be complemented by appropriate policies.
Based on this, Awe advised the two states to ensure that the MoU they signed captures the establishment of a Commodity Exchange. Doing that, he stated, would make traceability possible for every produce traded on the floor of the exchange unlike now when grains sourced in Kano or Lagos could be sold and consumed in other part of the country without knowing its source.
Today, goods sourced at Dawanau are, daily, transported to Togo, Burkina Faso, Cameroon, Chad, Niger, Ghana Central African Republic, South Africa, Libya and other African countries. Again, traders from Burma, Dubai, India, China, Britain, America, Saudi and other countries patronize the grains/seeds market for items like Moringa seed and leaf, Sesame seed, Hibiscus flower (Sobo) and other items such as Soya beans, Beans, Cassava, Millet, and Guinea corn without any credit given to their farmers and Nigeria.
Awe therefore said the Commodity Exchange would help to address issues like that, adding that it would also encourage farmers to put in more efforts in planting more grains. 
Similarly, Dr. Sani Hussaini Sagagi, Deputy Country Director, Sasakwa Africa Association, Nigeria; said any country that wants to progress must take cognizance of its population structure when formulating policies.
According to him, the Africa’s population would increase to 1.4 billion in the next 12 years, while it would be 2.5 billion in 2030. Sagagi warned that over 50% of that would be majorly young men and women who would choose to live in urban areas with the motive of getting white collar jobs. He disclosed that there would be food shortage and climate change, which would cause 50% yield reduction in agribusiness.
Sagagi therefore said the two state governments must, as from today, begin to put the mechanism in place to address the social menace that would arise because of the surge in populace. He expressed optimism that the agreement signed by Lagos and Kano States would help a lot in finding solace to the possible challenges that would arise in the future.
Also present at the occasion was Richard Sandall, Senior Private Sector Development Adviser, the UK’s Department for International Development (DFID). Sandall identified financing, security and land as some of the challenges militating against smooth agribusiness in Africa. However, he said the DFID was established with the aim of supporting Africa to address issues like that.
Sandall stated: “Apart from working on alleviating the constraints, DFID also focuses on assisting in formulating appropriate policies that would nip those challenges in the bud”.

BUSINESS

Everyone Can Open A Zenith Bank Zero Account [WATCH VIDEO]

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Do you know that you no longer need tens of thousands of naira or huge funds before you can open a Zenith bank account?

Are you aware that you can open a zero naira account with Zenith Bank?

Yes, you can and you can do it on the go!

Watch the video:

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Abuja Aglow As World Presidents, Dignitaries, Celebrities Set For Africa’s Biggest Event #TheUBAMarketPlace2019

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Pan African financial institution, United Bank for Africa (UBA) Plc is set to host over 20,000 visitors, 100 small and medium enterprises and leading private and public sector players from across Africa, at the continent’s biggest entrepreneurial fair tagged #theUBAmarketplace2019 in Abuja, Nigeria.

The event, which will be held on July 26th and 27th 2019, on the sideline of the Tony Elumelu Entrepreneurship Forum, the largest gathering of the entrepreneurship ecosystem in Africa, will host businesses and business owners in various industries including food, fashion, beauty, home/interior, and gadgets.

The epic event will offer plenary sessions and discussions on the small and medium scale enterprises (SMEs) sector and the relevance of financing. The plenary sessions will highlight the entertainment and music industries. Likewise, fashion, a big cultural and revenue attraction on the continent, will be showcased with the designs of 10 leading African labels.

At the master-class sessions to be held during the UBAmarketplace2019, small and medium scale businesses will have the opportunity to network and get solutions to some of the challenges they face in running their businesses. Also, entrepreneurs who are beneficiaries of the Tony Elumelu Foundation will be presented a platform to pitch their businesses with a grand prize of a grant, courtesy of UBA.

The Group Managing Director, Kennedy Uzoka, speaking about the event, stated “UBA has always been at the forefront of entrepreneurship across Africa, undertaking many projects aimed at contributing to supporting Africa’s growth and economic integration. The birth of the UBAmarketplace and this entrepreneurial fair is a testament to our commitment to African SMEs”

Uzoka added that with the fair, UBA seeks to touch base with small business owners while positively affecting the lives of entrepreneurs doing business in its countries of operations and beyond’.

“I think everyone realizes the fact that we need to prioritize the private sector. We need to encourage entrepreneurship and youths. This is the driving factor and the major reason why we are organizing an event of this magnitude’ he said.

UBA’s REDTV will light up the Redzone at the UBA marketplace with entertainment featuring Africa’s star boy Wiz kid; DJ Cuppy and many more.

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Access Bank UK Balance Sheet Up 36% As Polo Day Pledges N350m For Children In Education

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The Access Bank UK used its’ annual Access Bank Polo Day at Guards Polo Club Windsor on Saturday 13 July to post results showing another year of outstanding international business growth.

2018 was the year that it joined the three key UK clearing systems, and collected the best African Trade Finance Bank Awards from both International Finance and CFI.

All four strategic business units returned double-digit growth and in only its second year of operations, the importance of its investment in Dubai was demonstrated by a 200 percent increase in income. For the eleventh year running it was able to report having no ‘non-performing loans.’

With Corporate Responsibility and exemplary Corporate Governance playing a key role in the growth of the Bank, the Polo day is the culmination of a yearlong programme, with part of its fundraising in partnership with UNICEF for education projects in northern Nigeria in particular.

A total of N350 Million was pledged during the day to build and equip 70 new classrooms, for children’s education in Northern Nigeria. Since the UNICEF/Access Bank initiative was started in 2005 it has built schools in Kaduna and, kept more than 8,000 students in continuous education.

At the same time, new school blocks and a computer literacy building all in a more secure and friendly school environment have been developed. The communities surrounding the schools are being supported with bore-holes for water, and sewing and grinding machines to secure employment and stimulate economic and social development.

Kaduna State Governor, Nasir El-Rufai is committed to matching the building programme which will see another 70 classrooms built in the coming year and another 2500 children in education.

The annual event is the climax to the high-profile Access Bank/UNICEF Charity Shield Polo tournament, and celebrates reaching out to and highlighting the plight of vulnerable children and orphans and internally displaced persons. In partnership with 5thChukker and based in Kaduna, Nigeria, the tournament is the biggest charity polo tournament in Africa and generates funds and stimulates support for the work of the UNICEF/Access Bank initiative across Africa.

According to the Managing Director, Access Bank UK, Jamie Simmonds “we are a bank where our growth has been fueled by the strength of customer relationships. It enables us to develop innovative products and financial solutions with rather than just for our customers.

“Becoming a UK clearer is a major landmark for us and differentiates us from many of our competitors in the market place. We also manage our retail deposit offering in-house for greater control with both initiatives forming part of our strategy to future proof the bank” “

We have offices here in the heart of the City of London, Dubai and Lagos and are building our presence in China through a representative office there.” “We invest significantly in attracting, retaining and developing professional staff in order to ensure customers always deal with an expert who is familiar with their business and personal financial needs.

Herbert Wigwe, Chairman of The Access Bank UK Ltd, says “the successes in completing the first decade of trading for ACCESS Bank UK has been a major milestone. Growth has been sustained at the same time as earning a reputation for innovation and flexibility”

“Together our continuing support for the Fifth Chukker -UNICEF initiative is predicated on our view of our role as a change agent in Nigeria and Africa that can help institute socio-economic development through responsible business practice, social initiatives and environmental consideration.”

Wigwe added “we continue to look for ways through which more resources can be pooled towards supporting the children. We are part of the community and as such should support its wellbeing.”

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