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Saturday 10th April, 2021

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BANKING

Access Bank Customers Can Now Receive Int’l Remittances In Dollars Nationwide

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In response to the recent announcement by the Central Bank of Nigeria (CBN) that recipients of international remittances can now receive their funds in Dollars or to have funds paid directly into their domiciliary accounts, Access Bank plc has announced that customers can visit any of their branches nationwide to receive funds sent from family and friends abroad in US Dollars effective immediately.

Victor Etuokwu, Executive Director, Retail Banking, Access Bank plc, in a statement made available to DigitalTimesNG said, “As part of our promise to create value and meet the needs of our customers, we are happy to announce that our customers can now receive funds sent from the diaspora in Dollars at any of our branches nationwide.

“The funds will be available as a cash pick-up or direct transfer into customers’ domiciliary accounts.

“The bank’s promise to deliver “More than Banking” services is even more critical at this time as customers are looking for convenient products and services that facilitate their lifestyle and our remittance services are available to both customers and non-customers of Access bank.

“We encourage Nigerians in the diaspora to take advantage of this season of giving, to send funds home for their loved ones, who in turn can receive either by opening an Access bank domiciliary account or reactivate their inactive domiciliary account and the funds will be paid directly to their accounts or visit any of our 500 branches nationwide to receive their funds in USD cash.

“We maintain a strong relationship with our remittance partners: Western Union, MoneyGram, Ria, WorldRemit, Transfast, Paysend, Shift, Sendwave and other international money transfer services and we are committed to delivering excellent service to all our customers.”

Access Bank, over the years, has leveraged technology including advanced analytics, cloud computing, artificial intelligence, machine learning and robotics process automation to reform business operations and drive performance to improve customer experience.

 

 

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BANKING

Ecobank Appoints Tomisin Fashina As Group Executive, Operations & Technology

Fashina has over 30 years of experience, predominantly in technology management and financial services

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Dr. Tomisin Fashina, newly appointed Ecobank Group Executive for Operations & Technology

Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, has announced that Tomisin Fashina has been appointed as its new Group Executive for Operations & Technology, a position he will now hold in addition to his existing role of Managing Director of eProcess International.

Ade Ayeyemi, CEO Ecobank Group said: “The rapidly accelerating digital adoption by Africa’s citizenry and businesses, together with the explosion in eCommerce across the continent, is driving transformation throughout the banking and payment sectors.

“Winning across operations and technology is essential for the Ecobank Group’s short, medium and long-term success, and is an integral requirement of our ongoing determination to continue to meet the evolving expectations of our customers.

“Fashina is well experienced to ensure this, and his new role provides him with an overarching view of our operations and technology functions.”

Fashina has over 30 years of experience, predominantly in technology management and financial services.

Before joining the Ecobank Group, Fashina was the Chairman of the Board of Directors of Steward Bank Harare Zimbabwe. He has also been Chief Executive Officer for Yookos, a social media company.

He has held several positions at Barclays Bank, including General Manager & Head, Transactional Banking Products, and Channels Management and Director, Cash Management & Payments. Prior to this, at Citigroup South Africa, he held leadership roles in its Global Transaction Services as Division Head & Director, Client Delivery, sub-Saharan Africa; and Division Head, Electronic Banking & Implementation, sub-Saharan Africa.

Fashina has a BSc degree in Computer Engineering from Obafemi Awolowo University, a Master of Business Administration in Marketing from the University of Lagos and a PhD in Business Management in Leadership from Capella University, Minnesota, USA.

Fashina succeeds Eddy Ogbogu as Group Executive, Operations & Technology, following Eddy’s recent retirement after serving the Group for 11 years.

 

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BANKING

Fidelity Bank Ghana Launches Fund To Support Young Entrepreneurs

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Fidelity Bank Ghana has launched the Fidelity Young Entrepreneurs Fund (FYEF) to support existing businesses and startups of young entrepreneurs with financial and non-financial resources to harness social impact potential, build capacity and guide youth-related businesses to grow and scale up their businesses.

The Fidelity Young Entrepreneurs Fund is a project which will provide both financial and non-financial support to enable youth-related businesses to survive and thrive.

The focus of the fund is on businesses that are solving a problem in society, employing climate-smart adaptation or mitigation climate change processes in their activities and those that are easily scalable.

The bank and its partners will provide training programmes and up to GHC200, 000 in financial support to strengthen and grow selected businesses.

Some of the businesses being supported by the Fidelity Bank Young Entrepreneurs Fund (FYEF) are Sue Shimmers, a jewellery manufacturer; Pure and Just Farms, an agro-processing company; Giant Gas, a gas supplier; Giddins Innove, a leather goods and shoe manufacturer; Leather on Call, a leather goods and shoe manufacturer; Agrokings, an agribusiness company; and Neat Eco Feeds, an animal feed manufacturer.

Speaking on the Fidelity Young Entrepreneur’s Fund, Julian Opuni, Managing Director (MD) of Fidelity Bank Ghana said, “The initiative underscores our commitment to empowering young entrepreneurs and businesses to be the catalyst for social and economic development in Ghana.”

Opuni disclosed that this initiative is targeted at businesses that include: “Companies that have been in operation for at least two years and have demonstrated a steady flow of revenue/sales and profit.

“Businesses in their first stage of operations that are primarily funded or equipped with personal investments or assets of the founders/promoters and that have been in operation for at least six months.

“Businesses operated by women or that have at least 60% female ownership.”

According to the Director of Commercial & SME Banking at Fidelity Bank Ghana, Linus Kumi, “we recognize the difficulties that young entrepreneurs face in growing their businesses and it is important that we take a different approach that enables these young people to achieve personal and economic empowerment.”

Mr Kumi expressed gratitude to FYEF’s strategic partners-Growth Mosaic, Innohub and HOPin Academy for contributing to building the capacity of these SMEs to enable them to positively impact the economy.

“Over the years, we have contributed to the development of entrepreneurs in the areas of fashion, technology, food services, agriculture, agro-processing, health services, transportation, water sanitation and hygiene,” he added.

Another of the bank’s initiative that seeks to support young entrepreneurs is the ‘Orange Corners Innovation Fund’, which was launched in 2019 in partnership with the Kingdom of the Netherlands and executed by MDF West Africa.

The Orange Corners Innovation Fund is to, among other things, increase access to affordable credit for young entrepreneurs, promote growth and contribute to the sustainability of a young entrepreneur ecosystem by leveraging on strategic partnerships.

 

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BANKING

First Bank Improves Cross Border Transfer With First Global Transfer

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First Bank of Nigeria Limited has announced the launch of First Global Transfer (FGT) to promote the international transfer of funds across its subsidiaries in sub-Saharan Africa.

The bank said in a statement that “First Global Transfer (FGT) initiative is specifically designed to ensure safe, timely and improved efficiency in the transfer of funds across the network of First Bank subsidiaries in Africa.

“The FGT is not restricted to First Bank and FBN bank customers alone but it is also open to every individual resident in the country the funds transfer is originating from.

“Intending users of the initiative are to visit any of the bank’s branches in Nigeria or subsidiaries in Africa, which are: FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone, or FBNBank Senegal to enjoy the service.

“For example, with First Global Transfer, individuals and customers in Sierra-Leone can walk into any FBNBank branch to send money to FirstBank customers in Nigeria as well as FBNBank customers in Gambia, Ghana, DR Congo, Senegal or Guinea.”

Dr. Adesola Adeduntan, Chief Executive Officer, First Bank Plc said, “today’s customer is influenced by the technological advancement shaping businesses across various industries.

“Our First Global Transfer (FGT) initiative is one of those advancements created to impact every individual in our host community in Africa, whilst promoting the ease and swift transfer of money from one country to another for business or personal activities.”

 

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