Business

FirstBank CEO, Others Laud, Empower Women at FirstGem 4.0

Published

4 years ago

April 1, 2021

Eric

By Eric Elezuo

The Chief Executive Officer, First Bank of Nigeria Ltd and Subsidiaries, Dr. Adesola Adeduntan, has lauded the qualities of African women, saying a woman who knows how money works is in a vantage position to change the world for the better.

Dr Adeduntan made this assertion while delivering his speech at the First Gem Annual Conference 4.0 with the theme, “The Art of Negotiation”, held both on location and via the web.

This year’s event, which fell into the month of March appears symbolic as it represents two wonderful occasions including the celebration of the International Women Day, which provides opportunity to discuss and proffer solutions to gender parity issues and women empowerment challenges, and the 127th anniversary of the bank, FirstBank of Nigeria Limited. Of more importance is the fact that the 4.0 edition took place on the very day the company marked its birthday.

In his speech, Adeduntan paid glowing tributes to women, citing the fact that First Gem is tailor-made to suit the financial inclinations of women in business. He reiterated that “FirstBank, through the FirstGem initiative, is committed to supporting the contemporary woman’s financial services needs across the various stages of her life,” adding that “Our FirstGem value proposition provides real solutions to challenges faced by female entrepreneurs and working professionals.”

The FirstBank’s CEO eulogised the enterprising African woman, using an African proverb, which says, “If you educate a man you educate an individual, but if you educate a woman, you educate a family (nation)” stressing that “If you teach a woman how money works, provide her with the right products and funding support; she can transform the world.”

Further in his narrative, Adeduntan went down memory, bringing to the presence the moments that birth FirstGem as a preferred platform for the empowerment of women financially and numerous achievements recorded overtime.

He said: “In the last five years, our FirstGem initiative has served to foster the empowerment of women across the socio-economic strata with implementation across three pillars.

“The FirstGem platform for women (access to leadership programs/ workshops/trainings on women empowerment, business skills on wealth management and investment plans) Value proposition including capacity building, affordable finance, access to infrastructure, market visibility for women MSMEs

“A strong commitment as a financial institution to support women by leveraging the Bank’s resources in developing unique and mutually rewarding solutions.

“Today, our work is more important and impactful than ever! A review of the performance of the FirstGem initiative shows the effectiveness of our efforts to elevate and empower the Nigerian woman. In 2020, we gave out loans of NGN 58 billion to over 81,000 female entrepreneurs and professionals.
Empowering women via agent banking proposition is one of the outcomes of the FirstGem initiative. Across our agent banking network – the largest verified bank-led agent banking network in Nigeria – , we have about 24,500 female agents representing 28 percent of the agents in our network. It gives us much joy to see that more women are embracing this proposition and getting empowered.

“The FirstGem Initiative takes an inclusive approach to empowering women to make confident and sound decisions with respect to their business, family, and future. Whether you are the primary financial decision maker, a partner or financially independent, the time is now to power your own financial success by being part of the FirstGem Initiative – Open a FirstGem account and join the FirstGem community!

“Finally, as we close out on the activities that celebrate women folks, this March, I would like to restate that, at FirstBank, we remain committed to providing products and services that will allow our female customers and employees to thrive and attain their maximum potentials in business and career. Let us work together to make 2021 count for women, everywhere!

He advised women entrepreneurs to take advantage of the opportunities the FirstGem offers, noting that “we are leveraging the Agent banking proposition to close the gender gap and tap into the rich and overlooked base of the pyramid customer segment (that is predominantly women) with the realization that failure to fully harness women’s productive potential represents a missed opportunity to drive accelerated global economic growth.”

Recognising that the post- COVID-19 pandemic economic indices do not in any way favour women, Adeduntan informed that FirstBank has devised a veritable approach to support women’s wealth creation and financial independence.

“It has become imperative to match the scale and urgency of this challenge with financial products that address the lifecycle financial needs of women. The products should holistically address the needs of women by providing them with integrated access to savings as well as short and long-term credit, capacity building, and wealth management advisory. This suite of products will improve the earning capacity and reduce poverty levels amongst the women folk, in the medium to long term. Success will be dependent on everyone playing a part!” The FirstBank CEO said.

Firstgem is an exclusive FirstBank initiative to inspiresl and empower women to take charge of their financial future through the provision of access to resources and interactive workshops and advisory that help women to make informed financial decisions and build wealth management competences.

Other speakers at the event were the Chairman Board of Directors, First Bank of Nigeria Limited, Mrs. Ibukun Awosika, who spoke on the theme of the International Women’s Day, “Choose to Challenge”, Professor of Economics at IESE Business School, Prof Pedro Videla, who spoke on the current state of the Global Economy and how it Impacts Business Decisions, and Senior Lecturer, IESE Business School, Prof Mehta Kandarp, who lectured on Negotiation as a Tool for Winning in Business and Career.

Business

Fraud Allegations Against Us False – FirstBank

Published

1 week ago

December 15, 2024

Eric

The management of First Bank of Nigeria Limited has dismissed allegations of fraud reported against it in a recent publication by an online platform, Tech Cabal, describing the claims as baseless and unsupported by evidence.

In a corporate statement titled ‘Correction of Misleading Information Regarding Fraud Allegations,’ Olayinka Ijabiyi, the Acting Group Head of Marketing and Corporate Communications, addressed the issue on behalf of the bank.

“We have been made aware of a recent publication by Tech Cabal containing allegations of fraud involving our institution. We wish to categorically state that the story is entirely unfounded and not supported by any factual evidence,” Ijabiyi stated.

The bank reaffirmed its commitment to ethical practices and transparency, urging the public to disregard the allegations. It emphasized its dedication to maintaining trust with its customers and stakeholders while upholding its longstanding reputation as a leader in Nigeria’s financial sector.

First Bank reiterated its focus on delivering reliable and trustworthy banking services, dismissing the report as misleading and lacking merit.

Business

UBA Group to Commence Full Banking Operations in France

Published

3 weeks ago

November 29, 2024

Eric

As part of President Bola Ahmed Tinubu’s state visit to France, the Chairman of UBA Group, in the presence of President Tinubu and the President of France, Emmanuel Macron, signed a landmark business cooperation agreement with the French Finance Minister, Antoine Armand. The agreement is a significant indication of support by the French Government for the development of UBA’s full banking operations in France.

Speaking at the signing ceremony, Tony Elumelu, the Chairman of UBA Group commented: ”This partnership reinforces our commitment to seamless international banking services for our customers, not just across the 11 Francophone African countries we serve, but Africa as a whole; and French and European customers transacting with Africa. Expanding into France is a natural progression, with Paris serving as our European Union hub, as we continue to bring Africa and the world together, through innovative financial solutions. Paris will join London, New York and Dubai, as a critical component of our unique global network.”

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

Business

Built to Last: UBA Set to Empower MSMEs with Wealth Management Strategies

Published

1 month ago

November 20, 2024

Eric

As part of its commitment to deepen the growth and sustainability of micro, small and medium-scale enterprises (MSMEs) on the continent, Africa’s Global Bank, United Bank for Africa (UBA) Plc, is set to host the last edition of its quarterly business series for the year.

This edition of the business series, “Profit with Purpose, Business Continuity,” will be held on Thursday, November 21st 2024, by 12 PM (noon) at the Tony Elumelu Amphitheatre, UBA House, Marina, Lagos and intending participants are expected to register via the Registration Link at https://ubagroup.zoom.us/webinar/register/WN_UG0EUWSLTZqu91jSMSih5w

The UBA Business Series is a regular seminar/workshop organised by the bank as capacity-building initiatives for small businesses, where leading business leaders and professionals share well-researched insights on relevant topics and best practices for running successful businesses, especially in a challenging business environment.

This edition seeks to showcase businesses that are resilient and have done well through generations, adapting to political and economic changes.

Renowned leaders from diverse industries, including a prominent lawyer, award winning film director, and producer, Bolanle Austen-Peters whose work has significantly impacted Nigerian Cinema, and theatre will headline this last quarter’ series. Her recent film House of GA’A has achieved a major milestone, reaching Netflix’s Global 10 list for indigenous language films.

Other prominent entrepreneurs who will be on ground to give insightful tips are, Founder and Chief Executive of Asadtek Group Limited, Ghana; Dr. James Asare-Adjei; Award winning TV Personality & Multi Media Entrepreneur, Frank Edoho, Celebrated multimedia personality, Toke Makinwa and founder of Nigeria’s pioneering indigenous premium coffee brand, Happy Coffee, Princess Adeyinka Tekena.

UBA’s Group Head, Retail and Digital Banking, Shamsideen Fashola who spoke on the upcoming workshop, said the vast knowledge and experience of the panellists, will give business owners more insight towards the importance of personal finance, wealth management and most importantly how to navigate the frailties of the harsh economy to ensure business growth.

“We know small businesses are vital to the growth and advancement of every economy, that is why at UBA, we constantly look for ways of ensuring that these business owners and operators are well-equipped to grow their businesses successfully,” he said.

“This edition provides a platform for SMEs to learn from experienced entrepreneurs who have built and sustained businesses through the decades.

“Hearing their stories and strategies will be invaluable for any business owner looking to build a lasting enterprise,” Fashola said.

Also speaking ahead of the event, UBA’s Group Head, Marketing & Corporate Communications, Alero Ladipo, noted that the business series is an invaluable learning opportunity, targeted at helping young and aspiring entrepreneurs scale up their businesses.

Ladipo further said, “At UBA, we are committed to empowering businesses of all sizes, and this business series is one way we are fulfilling that commitment.

“To this end, we have assembled an esteemed panel of speakers who will share their wealth of experience and insights on building a generational business. This is a must-attend event for anyone serious about the long-term success of their enterprise,” she said.

United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than forty-five million customers, across 1,000 business offices and customer touch points in 20 African countries. With presence in New York, London, Paris and Dubai, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.