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USAID, United Bank For Africa Sign Memorandum Of Understanding To Advance The Two-Way Trade And Investment Goals Of Prosper Africa

Gbemileke Ajayi

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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.

BUSINESS

Transcorp Group Announces Significant New Executive and Non-Executive Board Appointments

Gbemileke Ajayi

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Transnational Corporation of Nigeria Plc (Transcorp) has announced significant appointments to its Board and Executive Management. Transcorp is Nigeria’s leading listed industrial holding company, whose interests include Transcorp Power, Nigeria’s largest power generator, Transcorp Hotels, owner of the iconic Transcorp Hilton, and significant upstream oil and gas assets.

Owen Omogiafo has been appointed as President/GCEO of Transnational Corporation of Nigeria Plc, with effect from March 25, 2020. She succeeds Valentine Ozigbo, who is retiring to pursue a career in public service, having served Transcorp for close to a decade. Owen is currently the MD/CEO of Transcorp Hotels Plc and has over two decades of corporate experience in organizational development, human capital management, banking, change management and hospitality. She holds a B.Sc. in Sociology & Anthropology from the University of Benin, an M.Sc. in Human Resource Management from the London School of Economics and Political Science and is an alumnus of the Lagos Business School and IESE Business School, Spain. She is also a member of the Chartered Institute of Personnel and Development, UK and a Certified Change Manager with the Prosci Institute, USA. She has received multiple awards and been named as one of Africa’s top 100 Female CEOs.

Dupe Olusola has been appointed as the MD/CEO of Transcorp Hotels Plc, effective from March 25, 2020. She is currently the Group Head, Marketing at United Bank for Africa Plc. She has over 21 years of corporate experience including MD/CEO of Teragro Juice Concentrate Plant. She holds a BA in Economics from the University of Leicester and a Masters in Development Economics from the University of Kent. She is a certified Project Manager, with qualifications in PMP and Prince 2. She has received numerous awards and was named by the Ventures Africa’s as one of the 10 Most Influential Nigerian CEOs of 2015.

The Board of Transcorp Hotels Plc has also approved the appointment of Helen Iwuchukwu as an Executive Director/Chief Operating Officer of the company. She is currently the Group Company Secretary of Transcorp Plc. She holds an LL. B. (Hons) degree in Law and was enrolled as a Solicitor and Advocate of the Supreme Court of Nigeria in 1993 (BL Hons) and holds a Master of Laws degree (LL. M.) from Middlesex University Business School, London. Helen is a member of the Nigerian Bar Association, with over 25 years in legal advisory, corporate law, corporate governance, administration, human capital management, and government relationship management.

Christopher Ezeafulukwe has been appointed as the MD/CEO of Transcorp Power Plant, Ughelli and was the Executive Director, Business Development & Legal, Transcorp Plc. He has over 21 years’ experience in business development, legal advisory, and company secretarial roles. He holds an LL.B from the University of Lagos, a B.L from the Nigerian Law School, an LL.M from the University of Lagos and further LL.M in Energy, Environmental & Natural Resources Law from the University of Houston, Texas. He is a member of the Nigerian Bar Association, the Institute of Chartered Secretaries & Administrators of Nigeria, the Association of International Petroleum Negotiators and was a member of the Executive Council of Association of Power Generation Companies of Nigeria.

The Board of Transcorp Power Ltd has also approved the appointment of Okaima Ohizua as Executive Director/Chief Operating Officer of Transcorp Power Ltd. She is currently Executive Director, Customer Services at Transcorp Hotels Plc. She has over 25 years of working experience and has been key to the continued service transformation at Transcorp Hilton Hotel, since joining the Board and Management in 2013. A graduate of law from the University of Benin and the Nigerian Law School, Okaima also holds an Advanced Management Program certificate from the Pan-African University – Lagos Business School.

The Board of Transcorp Plc also announced the appointment of Valentine Ozigbo as a Non-Executive Director, following his resignation as MD/CEO of Transcorp Plc.

Speaking on these appointments, the Chairman, Transcorp Group and Heirs Holdings, Tony O. Elumelu, CON, expressed his confidence that the newly appointed chief executives and non-executive directors will further, strengthen Transcorp’s mission of improving lives across Nigeria.

“These appointments demonstrate our commitment to nurturing talent and rewarding success. We have a deep pool of highly qualified and dedicated employees, who can be challenged with more responsibility in attaining our corporate vision. We remain committed to diversity and inclusion; are delighted by the depth and quality of experience that this leadership team brings to our group. These appointments further indicate our internal succession capacity and strong corporate governance practices”.

Mr. Elumelu thanked Valentine Ozigbo for his achievements as CEO. He highlighted that the Board of Transcorp will continue to implement its defined strategy, which has led its investee companies being leaders in their chosen sectors and has seen the significant transformation, since Mr Elumelu’s holding company, Heirs Holdings invested in 2011.

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Zenith Bank Introduces e-Token

Gbemileke Ajayi

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Leading financial institution, Zenith Bank Plc has introduced a new product called Zenith e-Token to enable its customers enjoy seamless banking services.

The Zenith e-Token App allows you to generate one-time passcodes on your mobile device to authenticate your transactions.

The Zenith e-Token app is available for Android and iOS devices.

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UBA Rewards 100 Customers With N10m In New ‘UBA Bumper Account’ Promo

Gbemileke Ajayi

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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 the number one fan of UBA. This has re-enforced my belief for this bank.”

The Deputy Director and Co-ordinator, National Lottery Regulatory Commission were 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.

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