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UBA GMD, Oliver Alawuba, Advocates for Women Empowerment to Unlock Africa’s Abundant Opportunities

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UBA at 75: We have Demonstrated Remarkable Financial Strength and Resilience Amidst Economic Challenges - GMD.

UBA GMD, Oliver Alawuba, Advocates for Women Empowerment to Unlock Africa’s Abundant Opportunities

 

The Group Managing Director of the United Bank for Africa (UBA), Mr. Oliver Alawuba, yesterday declared that African women must be empowered to become critical stakeholders in the development agenda before the continent could unlock its abundant opportunities which are in its people, natural resources and talents.

Alawuba stated this in Lagos, during the UBA Africa Conversation 2023, with the theme “Innovating the Continent for Growth,” which reflected the United Nations’ and the Africa Unions’ vision of innovation, technology and the need to create opportunities in the continent.

He said: “The irony of African challenge is that in Africa we have challenges and opportunities sitting side by side. Now between the opportunities and the challenges there can be a gap. How big the gap is, is actually the conversation. If you think the gap between the challenges and Africa is huge then the conversation will take too long.

“But for us in the UBA, we believe that between the challenges and the opportunities is a thin line. And we are committed to unlocking the opportunities in other to fill up those challenges.

“This year too, we are believing that women of Africa need to be celebrated. And we think for us to unlock those opportunities, we must empower African women to be critical stakeholders in the development agenda for Africa.

“So today, we have carefully chosen this conversation to celebrate the achievements of the African women. We are going to have a panel today that will be really amaze you and give you the confidence that we are on the right path to development.”

He stated that UBA Group was expressing its believe in empowering women by ensuring that over 50 per cent of members of its board were made up of women, adding that the bank was committed to developing financial products that would address the needs of the African woman.

“In the UBA too,” says Alawuba, “we will continue to develop products that will speak to the challenges that African women are going through in their businesses and their workplaces.

“You would like to know that in UBA we are the banks with the highest number of female directors on the board. Over 50 per cent of our board members are females. And out of those women we have three executive directors. In fact, for the first time in the life of the UBA, we have one of the executive directors as the chief executive officer of the UBA Ghana. And she is one of the panelists that you are going to hear from today.”

He added: “We know that in Africa we have a continent of vast opportunities, talents and resources that we need to unlock.

“So, as individuals and as corporates we need to corporate with each other to innovate and create the change needed to develop this continent. The time to develop it is now. The people to develop it are we here. And like our group chairman will always say ‘no one but us can develop Africa.’”

The GMD of UBA further stated that he believed that the founders of the African Union (AU) had today and, “us in mind in all their discussions when they believed that a time would come, and that time I do say is now, when we take up the challenge to develop this continent for ourselves and our future generation.”

He explained that a look at UBA’s vision and mission statements would highlight two critical words: Africa and institution.

“So, our institution is more than a bank. UBA is more than a bank. We have a mission to change Africa. We have a mission to change the world. And we believe that once we change Africa, we will indeed change the world,” he said.

Alawuba noted that the theme for this year’s conversation was apt to the challenges and economic problems that Africa is going through now in a world of turmoil.

He said the 2023 conversation was part of the UBA’s annual Africa Day celebration because the banking institution is highly committed to Africa becoming the continent of the future.

“So, the month of May is a month that everyone in UBA looks up to because we believe that Africa needs to be celebrated. Our culture and our uniqueness as Africans need to be celebrated too,” he said.

The 2023 UBA Africa Conversation was graced by the Group Chairman of UBA, Mr. Tony Elumelu, who lent support to the event that commemorated Africa Day.

The all-female choice panelists were made up of the Chief Executive Officer of UBA Ghana, Ms. Abiola Bawuah; President and Group Chief Executive Officer of Transnational Corporation of Nigeria (Transcorp), Mrs. Owen Diana Omogiafo; Business and Technology Executive, Ms. Foluso Gbadamosi; the current holder of Guinness World Record for Longest Cooking Time, Ms. Hilda Effiong Bassey and the Creative Director and Founder Bankee Kuku, Ms. Bankee Kuku-Lawson

 

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Zenith Bank Capital Markets Day

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Zenith Bank Capital Markets Day

 

Highlights from the Zenith Bank Capital Markets Day held earlier today with the Founder & Chairman of Zenith Bank PLC Dr. Jim Ovia CFR, Dame Dr. Adaora Umeoji OON, GMD/CEO of Zenith Bank PLC, Executive Directors of the Bank; Dr. Henry Oroh, Dr. (Mrs) Adobi Nwapa, Mr. Akin Ogunranti, Mr. Lawani Adamu, Mr. Louis Odom; the Bank’s Chief Finance Officer Dr. Mukhtar Adam (PhD); the General Manager/Group Head Investor Relations & Corporate Development Mrs. Rolake Akinkugbe-Filani; existing and potential investors, analysts, stockmarket players, asset managers, customers and other members of the Senior Management Team of the Bank.

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GTCO Offers 9 Billion Shares At ₦44.50 Each, Envisions One Billion Dollar Profit

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GTCO Offers 9 Billion Shares At ₦44.50 Each, Envisions One Billion Dollar Profit

GTCO Offers 9 Billion Shares At ₦44.50 Each, Envisions One Billion Dollar Profit

 

Guaranty Trust Holding Company (GTCO), one of Nigeria’s largest lenders, is raising ₦400 billion in capital through a public offer anchored on the Nigerian Exchange Group (NGX).

The company is offering 9 billion shares at ₦44.50 each, with plans to invest the additional capital in profitable ventures in West Africa and East Africa, as well as recapitalize GTBank Nigeria, expand its asset management and pension businesses, and grow its loan portfolio.

According to Group CEO Segun Agbaje, GTCO has a track record of delivering strong returns, with a 29% average return on equity (RoAE) over the past ten years and a 253% return on investment over the same period.

The company has also made significant inroads into non-banking businesses, including fintech, asset management, and pension management, with plans to generate 5% of group profit from these businesses within three years.

Agbaje, in a “fact behind the offer” presentation at the NGX on monday, gave stakeholders compelling reasons to embrace the offer. He promised to soon make GTCO the first Nigerian company to realise a billion dollar profit.

He welcome the CBN directive to banks in Nigeria to upscale their capital threshold, following adverse economic headwinds that have seen continuous erosion of assets noting that GTCO already had plans to raise fresh capital months before thedirective.

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Zenith Bank Wins Best Commercial Bank In Nigeria And Best Corporate Governance Awards At World Finance 2024 Awards

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Zenith Bank Wins Best Commercial Bank In Nigeria And Best Corporate Governance Awards At World Finance 2024 Awards

Zenith Bank Wins Best Commercial Bank In Nigeria And Best Corporate Governance Awards At World Finance 2024 Awards

Zenith Bank Plc has emerged as the Best Commercial Bank, Nigeria in the World Finance Banking Awards 2024, retaining the award for a fourth consecutive year.

The bank was also named as Best Corporate Governance, Nigeria for the third year running in the World Finance Corporate Governance Awards 2024.

The awards, which were published in the Summer 2024 Issue of the World Finance Magazine, are in recognition of the bank’s robust financial performance, superior customer service, sustainability initiatives and corporate governance practices.

Commenting on the dual honours, the Group Managing Director/Chief Executive of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, remarked:

“These awards highlight our steadfast dedication to excellence, adherence to global best practices, and our persistent effort to deliver superior value to all stakeholders through innovative products and services. Receiving these awards consecutively for multiple years signifies the commitment of our staff, the loyalty of our customers, and the support of our shareholders. We remain devoted to setting industry benchmarks and driving excellence across all aspects of our operations.”

Dr. Umeoji expressed her delight at the recognition and dedicated the awards to the Founder and Chairman, Dr. Jim Ovia, CFR, for his impactful leadership in establishing a robust and flourishing institution. She also expressed gratitude to the board for their vision and insight, the staff for their unwavering dedication, and the bank’s customers for choosing Zenith as their preferred bank.

World Finance is a leading international magazine providing comprehensive coverage and analysis of the financial industry, international business and the global economy.

The editorial combines award-winning reportage, covering a broad range of topics from banking and insurance to wealth management and infrastructure investment, with contributions from some of the world’s most well-respected economists and theorists as well as consultants in government think tanks and the World Economic Forum.

Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards, with these latest accolades coming on the heels of several recognitions including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the 14th consecutive year in the 2023 Top 1000 World Banks Ranking, published by The Banker Magazine.

We were also awarded the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020 and 2022; and Most Sustainable Bank, Nigeria in the International Banker 2024 Banking Awards

Further recognitions include Best Bank in Nigeria for three consecutive years from 2020 to 2022 in the Global Finance World’s Best Banks Awards and Best Commercial Bank, Nigeria for three consecutive years from 2021 to 2023 in the World Finance Banking Awards.

Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for 2022 and 2023, and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

The bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021 and Retail Bank of the Year for three consecutive years from 2020 to 2022 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

The bank also received the accolade of Most Sustainable Bank, Nigeria, in the International Banker 2023 Banking Awards and Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.

Zenith Bank was named Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards

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