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BIG STORY

Ambode Breaks Silence On Alleged Fight With Tinubu

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The Lagos State Governor, Mr Akinwunmi Ambode, broke his silence on Wednesday dismissing reports of him having a rift with the National Leader of the All Progressives Congress (APC) Bola Tinubu.

He described the rift as untrue, adding that there is no fight anywhere.

There had been reports of a major rift between Tinubu and Governor Ambode over an alleged disagreement on the second term bid of the Governor.

Addressing party faithful at the APC secretariat in Epe, Governor Ambode said the reports indicating a fight between him and Tinubu were out of place.

“I want you to know that there is no fight anywhere. The National Leader, Bola Ahmed Tinubu, and my good self we are not in any fight, we are not in any controversy.

“We are praying to God that the best is yet to come and the best will be what Lagos State deserves and I want you to just continue with your prayers that at this time, God will show His hand and make sure that everything that is of blessing to Lagos State and also blessing of Epe will come to pass,” Governor Ambode said.

He commended all the leaders and members of the party who contributed to the success of the delegates’ election in Epe, saying APC remained the party to vote for.

“We have just concluded our Delegates’ Election in Epe Local Government and by consensus, we have picked our three delegates that will be going to the National Convention come October 6 for the Presidential direct primaries and the convention for all other people.

“I want to say a very big thank you to all our delegates that are present here; I want to say a big thank you to all our leaders that have also supported us to make sure that this event has come and is done very successfully.

“I want to reiterate once again that our party, All Progressives Congress (APC) remains the party to vote for; we are the party at the national level and we are going to remain the party in the state,” the Governor added.

The party leaders and faithful in the division also took turns to affirm their unalloyed support for the second term bid of the Governor.

Youths in the division also staged a peaceful protest displaying placards of various inscriptions to affirm their support for the Governor’s second term bid.

•Text courtesy of Channels TV.

BIG STORY

Access Bank Plc Announces Strategic Update And Transactions In Furtherance Of Its Vision To Be Africa’s Gateway To The World

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Access Bank Plc (“Access Bank” or ‘’the Bank’’) announces today that it has received the Central Bank of Nigeria’s Approval-in-Principle for the Bank’s restructuring to a holding company (“HoldCo”).

The proposed HoldCo structure would enable the Bank to further accelerate its objectives around business diversification, improved operational efficiencies, talent retention as well as robust governance. Further details regarding the HoldCo structure will be communicated to the market in due course.

Access Bank also announces definitive agreements to bolster its market position in Mozambique and enter the South African market. This follows the recent transaction with Cavmont Bank in Zambia and further embeds the Bank’s presence in the SADC region, one of Africa’s most important trading blocs.

These transactions will result in a more connected African banking network that builds on Access Bank’s existing foundation and enhances its value proposition to stakeholders, including customers and employees. Shareholders will benefit from the economies of scale of a larger banking network, including the associated cost efficiencies arising from the Bank’s federated IT system and the replication of investments in innovative products across a wider range of markets.

A broader and connected Africa network remains a core strategic focus for geographic earnings growth and diversification, which will further enhance profitability and risk metrics. Through these transactions, Access Bank will be well placed to promote regional trade finance and other cross-border banking services, further leveraging its presence in key global trade corridors in the UAE, the UK, China, Lebanon, and India.

Strategic Entry and Acquisition in Mozambique

Access Bank announces that it has received regulatory approvals to commence operations in Mozambique under the name Access Bank Mozambique, S.A. (“Access Bank Mozambique”).

Access Bank also announces that its subsidiary, Access Bank Mozambique, has entered into a definitive agreement with ABC Holdings Limited (“ABC Holdings”), a wholly-owned subsidiary of Atlas Mara Limited (“Atlas Mara”) to acquire African Banking Corporation (Moҫambique), S.A., (“BancABC Mozambique”) for cash, in a combination of definitive and contingent consideration.

This transaction will be funded from the capital invested by the Bank in Access Bank Mozambique and will result in the Access Bank Mozambique becoming the 7th largest bank in the country, up from the 20th. As an enlarged business, Access Bank Mozambique will have an enhanced capacity to play a more impactful role in the growth of the Mozambican economy, particularly in the emerging oil and gas sector, an industry that Access Bank has deep experience in.

The transaction is subject to regulatory approvals and customary conditions precedent.

 

Strategic Investment in South Africa

Building on its strategy of delivering a robust banking operation that connects key African markets, Access Bank has entered into a definitive agreement with GroCapital Holdings (“GroCapital”) to invest in Grobank Limited over two tranches. The first is an initial cash consideration for a 49% shareholding, increasing to a majority stake in the second tranche. Both tranches are subject to various regulatory approvals and the overall transaction subject to Grobank’s shareholder approvals.

GroCapital, whose shareholders include the Public Investment Corporation – Africa’s largest investment manager, and Fairfax Africa Holdings – a leading global investor, will retain an existing but diluted shareholding in Grobank.

A presence in South Africa will serve as a cornerstone for further momentum in delivering on Access Bank’s mission to be Africa’s Gateway to the World. The proposed transaction is expected to provide access to the largest banking market in Africa and enable Access Bank to consolidate its Southern African and broader African footprint with enhanced capabilities to fulfill the needs of multi-national clients.

Speaking on these developments Herbert Wigwe, GMD/CEO Access Bank said:

We have consistently said that we are focused on building the scale needed to become a leading African bank; one that leverages our experienced and growing talent base and key stakeholder partnerships towards driving sustainable impact and profitability. Today’s announcement demonstrates further commitment to delivering our strategic aspirations of becoming Africa’s Gateway to the World in line with our vision to be the World’s Most Respected African Bank.

These transactions will significantly strengthen our presence in Southern Africa and further our footprint for growth in the SADC region. With a broader presence across the continent, Access Bank will be better placed to support our customers who are increasingly looking towards intra Africa growth. The proposed transactions will accelerate the Bank’s momentum towards delivering world-class banking services to an expanded customer base across Africa. Our goal remains to reach and impact 100 million unique customers across the continent.’’

 

 

SUNDAY EKWOCHI

COMPANY SECRETARY

FRC/2013/NBA/00000005528

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BIG STORY

GTBank Fashion Weekend Returns for the 5th Year, Holds Nov. 14 – 15, Call for Exhibitors Now Open

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Foremost financial institution Guaranty Trust Bank plc has confirmed that the 5th edition of Africa’s premier fashion event, the GTBank Fashion Weekend, will hold on Saturday, November 14, and Sunday, November 15, 2020.

The two-day event will feature fashion-leaders and industry experts from around the world, whilst providing hundreds of indigenous small fashion businesses with the opportunity to expand their online presence, reach new markets, and position their businesses for sustainable growth.

Themed “The Future of Fashion Retail,” the 2020 GTBank Fashion Weekend event will feature a hybrid of online and physical experiences, including Online Master Classes, an Immersive Online Shopping Experience with Free Delivery Nationwide, and a Runway Show.

In line with its vision of Promoting Enterprise, the Bank will provide an e-commerce platform that will allow hundreds of small businesses connect with thousands of consumers that are online, whilst providing fashion lovers with an immersive online shopping experience. The Bank will provide custom-built online retail stalls for free and, at the same time, fully sponsor all promotional activities to drive visibility and sales for all the fashion brands that will be a part of the 2020 GTBank Fashion Weekend.

In addition to its innovative fashion retail experiences, the 2020 GTBank Fashion Weekend will feature a series of online masterclasses facilitated by renowned fashion industry experts.
A “must-attend” for entrepreneurs and fashion enthusiasts, the masterclasses have been designed to deliver the same quality in content and engagement as previous years, through interactive webinars that will focus on exploring new and exciting ways to build and sustain fashion brands in these times and the future.

The Runway Show will also keep its place at the 2020 GTBank Fashion Weekend. Designed with current realities in mind, the Runway Show will feature a carefully curated ensemble of bold and enthralling fashion statements by Africa’s Finest Fashion Brands, delivered in a socially distanced environment.

Commenting on the 2020 GTBank Fashion Weekend, the Managing Director and Chief Executive of GTBank, Segun Agbaje, said; “Fashion is more than just art or endeavour, it is a way of life, and as we make adjustments to how we live in these new realities, we are also reimagining how we create value for small businesses, the local fashion industry and our customers through the GTBank Fashion Weekend. This year, key parts of our fashion experience will go online, but the focus remains the same; to drive the growth of our fashion industry by promoting enterprise for small businesses in the sector.”

He further stated that “At GTBank, we will continue to lend the full weight of our franchise to safeguarding lives and livelihoods not only by leading the fight to curtail the Covid-19 outbreak, but also creating and championing initiatives that help businesses and individuals thrive.”

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BIG STORY

Ondo 2020: Mimiko Is Not My Friend, He Remains My Bogus Enemy For Life —- Akeredolu [VIDEO]

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As the date for the Ondo State gubernatorial election draws closer, Governor Oluwarotimi Akeredolu has described his predecessor and former governor Olusegun Mimiko as one of the main enemies standing against his re-election bid on October 10.

Governor Akeredolu stated while featuring live on the Channels TV popular programme, ‘Politics Today’ which was monitored by our correspondent.

Recall that the former governor Mimiko, at the weekend in Ile-Oluji, Ile-Oluji/Okeigbo Local Government Area of the state during the campaign tour of Agboola Ajayi, described his friend and successor in office, Akeredolu, as a disappointment to the good people of the state, saying APC and Akeredolu run an anti-people government in the state.

But Akeredolu, while replying, described Mimiko as a “bogus enemy (sic)”, saying it is better for both of them to separate and go on their separate ways.

The governor, who is seeking re-election, alleged that Mimiko has politically betrayed him as a friend.

Akeredolu said: “I took him (Mimiko) as a friend but I doubt if truly he is my friend. I am not somebody that hides feelings. Reference to him as my friend may probably not be right. To me, he is a bogus enemy and I think he remains so I think for life.

“It is better for us to separate and go our ways because with a friend like him, you don’t need an enemy, so you don’t play this high level of betrayal in politics.

“For me, I am not interested in his own politics, if he thinks he is playing politics, he is fooling himself but for me am not human and I can tell you today that both of them, former Chief Judge of Ondo State, Sehinde Kumuyi and Mimiko are my bogus enemies and they will remain forever. I know God will forgive me, I know that am going to survive it and they will regret the action for life.”

 

Video Credit: Channels TV

 

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