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Ecobank Nigeria Promotes Entrepreneurship, Extends Agric Loan to 70,000 Farmers

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Ecobank Nigeria has restated its commitment to the Agricultural sector and is supporting over 70,000 farmers with special loans to increase their capacity and yields during this planting season.

This is one of the bank’s initiatives to promote entrepreneurship in the sector and is in support of the Central Bank of Nigeria’s Anchor Borrowers programmes for the 2020 wet season with the Maize Growers, Processors and Marketers Association of Nigeria (MAGPAMAN).

Head, Agribusiness, Ecobank Nigeria, Mojisola Oguntoyinbo, announced this in Lagos while responding to media enquiries on the participation of the bank in the CBN scheme. According to her, the initiative spreads across the thirty-six states of the Federation and is one of the several concerted efforts on the part of the bank to support the government to create an ecosystem that gives small holder farmers access to funding and the required support to increase food production in the country. She also noted that the scheme is designed to connect small holder farmers with processors and off takers within the agriculture value chain.

“We are creating opportunities in the Agric sector that will help many small holder farmers expand their business and become worthy employers of labour by adopting modern farming techniques for the betterment of our economy. We are in strategic partnership with NIRSAL and some other developmental institutions to achieve our purpose.  We are also partnering the Central Bank of Nigeria (CBN) in all its intervention schemes and programmes aimed at developing the sector. Our relationships are generating positive activities across the entire Agric value chain.”

This comes on the heels of the bank’s widely acclaimed Agri-business summit with key stakeholders, held earlier in the year.

Ecobank has been actively leveraging entrepreneurship as a strategy to tackle poverty and growing unemployment, through the creation of relevant platforms.

One of such platforms is the Ecobank Xpress Point, the bank’s Agency Banking proposition which enables Agents carry out financial transactions on behalf of Ecobank and earn commission on transactions processed.

Thousands of Nigerians have taken advantage of this opportunity to become Xpress Point agents and have in turn, employed several others, thereby improving financial inclusion and creating employment opportunities. Xpress Points are in various neighbourhoods across the country and are well positioned to facilitate financial transactions in the communities which they serve.

Embracing Healthy Food Culture in Nigeria

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By Reginald Onabu

Culture separates, yet connects, the world. People are either pulled together or else separated by their cultures. The impact of culture is widespread and diverse. Culture, as defined by Livescience.com, is the characteristics and knowledge of a particular group of people, encompassing language, religion, cuisine, social habits, music and arts.

Food is definitely an important ingredient of culture. Many times, what people eat, how they prepare what they eat and sometimes who can eat what, all depend on the prevalent culture. Indeed, people may connect to their cultural or ethnic groups through similar food patterns.

Naturally, the impact of culture on nutrition is high. In some instances, culture can inhibit the progression of healthy nutrition. For example, some cultures believe that if a child is given eggs to eat, the child will grow up to become a thief. Other cultures forbid their clansmen from eating a particular type of food, as this will offend the ancestors. There are places in this country where people don’t eat chicken and others forbid beef.

Certain food taboos and other cultural rites prohibit children from eating meat or eating coconuts. The belief is that these food sources will make them unintelligent. These cultural constraints and food biases may result in malnutrition and other nutrition-related ailments, including protein deficiency.

Protein deficiency, a type of malnutrition, is the lack of protein nutrients in the body, and it poses a significant problem in Nigeria. Protein is widely regarded as an essential building block of life. It is a macro-nutrient found in literally every cell of the body. Macronutrients are foods that the body needs in large amounts. Protein is an important ingredient used to build, maintain and repair body tissues and muscles.

Recently, at a webinar titled: ‘Nigeria’s food culture and the challenge of protein deficiency’, nutritionists and public health experts explored the nexus between the food culture in Nigeria and the protein deficiency situation.

The webinar was organised by Protein Challenge, which is the tag for the Nigeria Protein Deficiency Awareness Campaign. Protein Challenge is a protein-pull media campaign supported by the United States Soybean Export Council (USSEC) and other partners in the country. It seeks, among other things, to create awareness about the prevalence, status and impact of protein deficiency in Nigeria.

The keynote speaker at the webinar, Dr Omadeli Boyo, a medical director and public health expert stated: “We need to sensitise our communities on the importance of protein consumption, taking into cognisance the knowledge, attitude and practices of the various ethnic groups.” He added that there is an urgent need to ensure that healthy food is made affordable and available to all Nigerians, to alleviate protein deficiency.

He remarked that most Nigerian families can hardly afford foods with high nutritional value, compelling them to feed mostly on starchy foods which are very high in carbohydrates. They are also often cheaper.

The truth is that notwithstanding the situation in Nigeria, there are solutions to the issues of food bias, food insecurity and malnutrition in the country.

Creating awareness of malnutrition and protein deficiency is the obvious first step. People need to be aware that eating a daily diet of only starchy foods or processed foods is unhealthy. As the Chinese proverb says, “whatever was the father of a disease, a poor diet was the mother.”

As Dr Boyo noted, sensitisation and education on the benefits of protein will play a key role in communities embracing healthy food cultures. Setting up policies to encourage diverse ethnic groups to eat fruits, and protein-rich foods will certainly help in dispelling certain food myths. Culture is learned, it can also be unlearned, although the process would have to be gradual.

Also speaking at the webinar, Ezekiel Ibrahim, President, Poultry Association of Nigeria (PAN), noted that agriculture is the cornerstone to proper nutrition, so the country must pay closer and more serious attention to it.

He revealed that some of the challenges poultry farmers face is both cultural and economic. These include limited access to quality seeds, trial and error farm method, poor funding of agricultural research institutes, weak value chain and the dearth of reliable data and statistics for planning purposes.

The issue is clear. We must change how we do things to change the narrative around malnutrition and protein deficiency in the country. All key stakeholders in the agricultural, health, food and nutrition space must advise the government on the need to ensure adequate food security for all people across the board.

Truly, it is only through embracing a healthy food culture that Nigeria, with its large and quickly expanding urban population, can begin to experience rapid changes in food habits. With proper dissemination of information, sensitisation and education, Nigerians will begin to actively seek and adopt a protein-rich diet. This will be a desirable cultural shift.

Besides, as people become more conscious of the need for a healthy lifestyle, they can explore the rich repository of unique local nutrient-rich foods. The government and indeed every relevant stakeholder must join hands to ensure that nutrient-rich foods are not only available but also affordable.

Towards Curtailing Protein Deficiency in Nigeria 

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The challenge of providing good nutrition is global. In many instances, it is multidimensional. In Nigeria today, there is no part of the country, segment of the population and groups not impacted by nutritional issues. No part!

To understand the significance of nutrition, consider this: experts insist that maternal prenatal nutrition and the child’s nutrition in the first three years of life are crucial factors in a child’s neuro-development and lifelong mental health. Not getting enough nutrients early in life can have an impact that lasts a lifetime.

This is the challenge, where nutrients are inadequate or in excess, it leads to malnutrition. Malnutrition, according to the World Health Organisation (WHO) refers to deficiencies, excesses or imbalances in a person’s intake of energy and/or nutrients.

Malnutrition covers under-nutrition, micro or macro nutrients deficiencies, and overweight and obesity among other unsavoury conditions.

According to UNICEF, “In Nigeria, malnutrition is a direct or underlying cause of 45 per cent of all deaths of under-five children.”

The UN Agency notes that “Nigeria has the second-highest burden of stunted children in the world, with a national prevalence rate of 32 per cent of children under five. An estimated 2 million children in Nigeria suffer from severe acute malnutrition (SAM), but only two out of every 10 children affected is currently reached with treatment. Seven per cent of women of childbearing age also suffer from acute malnutrition.” The situation looks grim.

However, the fact that malnutrition is an issue should not surprise anyone as hunger is a critical problem. The National Bureau of Statistics (NBS), in a recent report about poverty and inequality from September 2018 to October 2019, said 40 per cent of people in Nigeria live below the poverty line of 137,430 naira ($381.75) a year. This represents 82.9 million poor people. Everyone knows that the poor struggle to eat.

Now, the truth be told, the world is not unaware of the challenges. In fact, over the years, there have been plenty of efforts to eradicate hunger, attain food security and improve nutrition. The results have been askance.

The most ambitious yet is the Sustainable Development Goals (SDGs). According to Wikipedia, “The SDGs are a collection of 17 global goals designed to be a “blueprint to achieve a better and more sustainable future for all”. The SDGs set in 2015 by the United Nations General Assembly and intended to be achieved by the year 2030.”

The SDGs are interconnected. This means that action in one area will affect outcomes in others.

The goal for SDG 1, End Poverty and SDG 2, Zero Hunger is of particular interest. Consider the target for SDG 2 – to end hunger and ensure access by all people, in particular the poor and people in vulnerable situations, including infants, to safe, nutritious and sufficient food all year round by 2030.

The goal is audacious. Undoubtedly, nutrition is central to the actualisation of the current sustainable development agenda.

Sadly, in Nigeria today, a major cause of malnutrition, especially among children is protein deficiency. This happens when people do not get adequate amounts of protein from their diet.

Protein is widely regarded as an essential building block of life. It is found in literally every cell of the body. It is a macro-nutrient that is one of the three nutrients found in food that the body needs in large amounts. The other two are carbohydrates and fat.

Protein is an important ingredient used to build, maintain and repair body tissues and muscles.

Protein deficiency poses a major health problem in Nigeria. Besides, it places an economic and social burden on the state. Experts say that it is the most important risk factor for illness and death, with millions of pregnant women and young children particularly affected

Highlights from a recent nation-wide survey report, the Nigeria Protein Deficiency Report, identified high cost as a major disincentive for the consumption of most protein food sources in Nigeria. The report was unveiled at the recent launch of the Nigeria Protein Awareness Campaign.

The survey, which was designed to empirically determine the current status and dimensions of protein deficiency in Nigeria, sheds light on food consumption patterns among Nigerians.

According to the report, “51 per cent of respondents do not have adequate protein-rich foods due largely to high cost.” The report also showed that the fundamental factors determining the necessity of meal items consumed across the country are availability (79%) and affordability (68%). Think of the effect of poverty here.

The report indicated carbohydrates are the most consumed food amongst Nigerians. Rice topped the list with 91%, closely followed by ‘swallows’ (such as eba, amala, fufu, pounded yam, etc.) as 83%. 58% of sampled institutional providers (dieticians and nutritionists) insisted that the protein intake of Nigerians is generally quite insufficient.

According to Dr Omadeli Boyo, Medical Director, Pinecrest Specialist Hospital and a Public health expert, “The report lends credence to many of the long-held perceptions about food consumption in Nigeria. It is detailed, yet concise, clear and places in context food consumption patterns across the country.”

He noted that it is no surprise that, with carbohydrates as the most commonly consumed foods, incidence of malnutrition is today a prevalent public health concern.

Shedding more light on the protein deficiency campaign, Dr. Boyo explained that an important thing about the proposed campaign is that it aligns with the SDG 2, which seeks to ‘end hunger, achieve food security and improved nutrition and promote sustainable agriculture’

Judith Igwe, a Nutritionist, said: “The report highlights the dimensions of protein deficiency in Nigeria. It also establishes that availability, affordability, taste, nutritional value and preference are factors that drive the choice of protein consumption among the target audience.”

The Nigeria Protein Awareness Campaign is a media campaign initiative, supported by the United States Soybean Export Council (USSEC) and other partners to create awareness about the prevalence, status and impact of protein deficiency in Nigeria. Protein Challenge is the theme (tag) for the campaign.

USSEC acts as a knowledge, technical and promotion partner willing to work with relevant stakeholders across a broad section of the economy, from academia to healthcare, NGOs, agriculture, agro-processing and government, to proffer solutions that will enable everyday Nigerians overcome the risk of protein deficiency and live healthy, productive lives.

This is commendable. It is precisely the sort of coalition needed to tackle protein deficiency, broad-based, committed and in for the long haul.

Every effort to combat and curb protein deficiency contributes to unravelling the malnutrition challenges in Nigeria. The benefits of progress would be humongous. Citizens would be more productivity and this would naturally spur socio-economic growth. Children would equally become more attentive helping to bridge the education gap.

The economic cost of malnutrition is estimated to range from 2 to 3 per cent of Gross Domestic Product (GDP). In Nigeria, it is as high as 11 per cent according to a UNICEF report. It is time to reverse this trend.

 CBN Approves Stanbic IBTC’s Executive Management Promotions

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Demola Sogunle

Chief Executive

Stanbic IBTC Holdings PLC

The Central Bank of Nigeria (CBN) has approved the executive management promotions recently announced by the Boards of Directors of Stanbic IBTC Holdings PLC and Stanbic IBTC Bank PLC.

Top on the list of these approved promotions is that of Dr. Demola Sogunle, who moves up to the position of Chief Executive, Stanbic IBTC Holdings PLC.

Before this promotion, Dr. Sogunle was the Chief Executive of the Bank and previously served as Deputy Chief Executive. He will also continue to serve as a Non-Executive Director on the Board of the Bank.

Following the appointment of Dr. Demola Sogunle as Chief Executive, Stanbic IBTC Holdings PLC, Yinka Sanni, his predecessor in that role, has been promoted as Regional Chief Executive (West Africa) for Standard Bank Group.

In this new role, Mr. Sanni will have oversight responsibilities for Nigeria, Ghana and Cote d’Ivoire, as well as the delivery of Standard Bank Group’s strategy across the region.

Other promotions confirmed by the CBN included those of Mr.Wole Adeniyi, who now becomes the Chief Executive, Stanbic IBTC Bank PLC. Until his latest appointment, Adeniyi was the Deputy Chief Executive of the Bank and served previously as Executive Director, Personal and Business Banking.

With the appointment of Wole Adeniyi as Chief Executive of the Bank, Mr. Remy Osuagwu is now the Executive Director, Personal and Business Banking, Stanbic IBTC Bank PLC. He takes over from Mr. Adeniyi in the execution of the retail strategy of the Bank, and in his new role he will oversee the growth of both the Personal and Business Banking segments of the Bank. Mr. Osuagwu previously served as Head, Business Banking.

The new appointments officially took effect from Wednesday, July, 1, 2020.

Stanbic IBTC Named Nigeria’s Best Sub-Custodian Bank 2020 for 9th Time

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Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has won the Best-Custodian Bank Award in Nigeria for the ninth time. This was disclosed by Global Finance magazine, during the announcement of its selections for the 18th annual Best Sub-custodian Bank Awards in seven regions and more than 80 countries.

The Global Finance Best Sub-Custodian Bank Awards regularly distinguishes top performers among banks and other providers of financial services. By recognising excellence in the provision of top-notch securities services to global clients, it has become a trusted standard for the global financial community, designed with deep market knowledge and executed through innovative technology.

Expressing his excitement about this successive feat, Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, said: “Being consistently recognised by Global Finance as the best provider of custody services in Nigeria is an achievement that we are proud of. It affirms our leadership in the custody industry as well as our stance and competence in delivering top-notch banking services through cutting-edge innovations and proficiency.

“This recognition reflects who we are and what we offer. It will also spur us to continue to set a pace in the Nigerian financial industry through excellent service to our esteemed customers.”

Also commenting on the award, Akeem Oyewale, the Chief Executive of Stanbic IBTC Nominees Limited said “Our customers should not expect us to rest on our oars with this award, despite winning it repeatedly. Indeed, in line with our values, we seek to continually raise the bar. With enhanced focus on improved technology and digitisation, and explicit focus on market advocacy as tools to make Nigeria’s custody industry continue to rank with the best globally, Stanbic IBTC will continue to make clients get the best services in terms of custodial offerings. We are also leading in the implementation of Securities Lending products in Nigeria, and this will further enhance market liquidity and depth”.

Based on market research, input from expert sources as well as entry information, criteria such as customer relations, quality of service, competitive pricing, and smooth handling of exception items are used in selecting banks that reliably provide the best services in local markets and regions. Other criteria include technology platforms, post-settlement operations, business continuity plans as well as knowledge of local regulations and practices.

For the awards, Global Finance obtained input from users of sub-custody services. The performance was judged over the period covering 01 January 2019 through 31 December 2019.

Apart from Nigeria, three subsidiaries within Standard Bank Group, the parent company of Stanbic IBTC Holdings PLC, were selected as best sub-custodian banks for their respective countries. These are Ghana, Namibia and Mozambique.

Global Finance, founded in 1987 and headquartered in New York, is currently circulated in 187 countries. Its audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions.

Covid-19: Ecobank Nigeria Restates Commitment to SMEs, Agric Sector

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Ecobank Nigeria has restated its unwavering commitment to support and sustain the development of Small and Medium Enterprises (SMEs) in all sectors including the Agriculture sector of the nation’s economy, following the emerging economic climate. This was the submission of speakers at the Ecobank Webinar held recently in Lagos.

In his presentation tagged: Harnessing CBN and other funding opportunities for small and medium enterprises in the emerging economic climate, Emeka Agada (Head, SME, Ecobank Nigeria), stated that the bank will continue to harness and explore the various CBN intervention schemes and other funding and trade opportunities provided by Ecobank Nigeria for small businesses.

He further added that Ecobank has also made available solutions that enhance trade through provision of working capital and digital platforms for payments and collections.

According to him, Ecobank recognises that one of the ways of creating jobs, reducing poverty and achieving economic growth and development is by the timely extension of credit to businesses, stressing that the bank is a big player in financial intermediation in that sub sector.

“Ecobank is a major player in the SME space. We have won several awards in this regard. That is why Ecobank is commonly referred to as the SME friendly bank. We will continue to partner with CBN and other funding partners to play the important role of promoting economic growth and development through the process of financial intermediation in the sub sector under any circumstance” he said.

Agada listed business loans offered by Ecobank to SMEs as merchant advance for businesses using digital collection channels, inventory finance for key distributors, shop owners facility for traders, purchase order and invoice discounting, asset finance, agriculture finance amongst others. He further stated that the bank also supports trade by providing solutions for facilitating onshore and off-shore activities such as export finance, import finance, bonds, guarantees, small-scale import forex via form Q etc.

He further stated that Ecobank is also a major participant in the CBN Interventions such as Creative Industry Initiative (CIFI), Healthcare Intervention Fund, Real Sector Support Facility (RSSF) and all Agric related intervention funds amongst others.

Moji Oguntoyinbo (Head, AgriBusiness, Ecobank Nigeria), in her presentation titled-  Harnessing CBN and other Ecobank funding opportunities for Agric business in the emerging economic climate, said Ecobank, is sustaining its commitment to the agriculture sector in partnership with NIRSAL and some other developmental institutions in the next two to three years.

According to her, Ecobank is a partner with the CBN in all its intervention schemes and programs which are focused on the development of the agricultural sector. ‘’This relationship is generating activities across the entire value chain of the sector’’, she stated.

She listed the various schemes and programs as Anchor Borrowers Programme (ABP), Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending (NIRSAL), Commercial Agriculture Credit Scheme (CACS), Micro, Small and Medium Enterprises Development Fund (MSMEDF), Real Sector Support Facility (RSSF), Paddy Aggregation Scheme (PAS), Maize Aggregation Scheme (MAS) and Rice Distributors’ Facility (RDF).

This edition of the Ecobank Webinar series is an initiative of Ecobank Commercial  Banking business, aimed at deepening  conversation on the new normal for businesses and how individuals can harness new opportunities in the face of COVID-19.

The virtual engagement attracted participation from amongst various Ecobank customers comprising, individuals and business owners from different sectors of the economy and financial experts who joined across virtual platforms and social media handles.

Ecobank’s unique and largest pan-African platform is designed to help unlock the opportunities of the continent and for the continent, through standardisation, fueling regional integration, trade and investment across borders.

Due to its sterling performance, the bank has been recognised multiple times; as ‘Best Retail Bank in Africa 2019’ by the African Banker Awards and also as ‘Most Admired Financial Services Brand in Africa 2019’ by Brand Africa 100.”

AMCON Takes Over Assets of Pan Ocean Group over N240bn Debt

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Hon. Justice A.M. Liman of the Federal High Court, presiding over the suit between the Asset Management Corporation of Nigeria (AMCON) vs Everest Nominees Limited and Dr. Bolaji Ogundare a subsidiary of Pan Ocean Group has ordered AMCON and its assignee to take over all the assets of the companies.

Pan Ocean Group is promoted by Dr. Festus Fadeyi, a flamboyant Lagos oil and gas businessman whose total indebtedness to AMCON is over N240billion.

The court had also granted an order appointing AMCON as a Receiver Manager (in accordance with its 2019 Act as amended) and its designated human nominees (Mr. Kunle Ogunba Esq. SAN) its privies and assigns over the assets of Pan Ocean, their corporate guarantors, cronies and cohorts to take over a number of prime assets of Pan Ocean over some irreconcilable huge debt owed AMCON by both Everest Nominees Limited, Pan Ocean Group and their promoters as well as directors.

The court in suit No. FHC/L/CS/722/20 ordered AMCON and its assigned designate to take over several oil mining and oil prospecting licenses that are exemplified by OML 147 (formerly OPL 275), OML 152 and OML 98 respectively. The order also mandated AMCON to took over the property lying and situate at No. 33b, Adebayo Doherty Street, off Admiralty Way Lekki Phase One in Lagos State as well as the property lying and being specifically known as FF Towers, Plot 13/14 Ligali Ayorinde Avenue, Victoria Island, Lagos.

Others include another property lying and specifically known as No. 8, Modupe Alakija Crescent, Ikoyi, Lagos; the properly lying and specifically known as No. 10/12, Modupe Alakija Crescent, Ikoyi, Lagos christened and identified as Grand Villa; No. 14, Modupe Alakija Crescent, Ikoyi, Lagos; another property lying and known as Ark Towers situate at No. 17, Ligalli Ayorinde Avenue, Victoria Island, Lagos as well as Plot 5 and Plot 822, Samuel Manuwa Street, Victoria Island, Lagos.

Aside these prime assets of the obligors, Justice Liman also ordered AMCON to take over any other assets, businesses, affairs, undertakings, interests etc belonging to the defendants wherever same may be found. He also directed the Inspector-General of Police and his commissioners to assist AMCON and its designates as well as the Court Bailiffs in taking over the assets on behalf of the Corporation.

Only recently, the media was awash with news that the debt of Dr. Festus Fadeyi of Pan Ocean Group and his firms to Skye Bank Plc accounted for why the bank eventually collapsed.

Skye Bank Plc officially collapsed in 2018 leading to its takeover by the Federal Government of Nigeria through AMCON, which injected a fresh cash of about N786billion. AMCON had to step in because the bank required urgent recapitalisation, which at the time save thousands of jobs and depositors’ money.

Olam to Speed Innovation to Address Global Food Security

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 Olam International, in partnership with Agropolis Fondation, is on the hunt for ground- breaking scientific research that can deliver transformational impacts within global agriculture and win a $75,000 grant to support development and implementation.

Unlike other research awards, the Olam Prize for Innovation in Food Security requires clear evidence of potential short-term impact on food availability, affordability, adequacy, and accessibility. The fourth edition of the biennial Prize follows the recent warning from the UN World Food Programme that the COVID-19 pandemic will double the number of people suffering acute hunger by the end of 2020i, bringing food security firmly into the world’s spotlight.

Sunny Verghese, Co-Founder and Group CEO at Olam said: “At a time when the world faces a potential rise in food insecurity from the coronavirus crisis, with vulnerable parts of the developing world, particularly in Africa, most at risk, the new scientific insights and techniques being developed by research teams around the world are more significant than ever. The Olam Prize aims to support breakthrough innovations so that together we can re- imagine agriculture for greater food security.”

The winner of the previous Prize was a pioneering mapping approach that is reimagining subsistence farming in Ethiopia, co-ordinated by Dr Tomaso Ceccarelli of Wageningen Environmental Research and Dr Elias Eyasu Fantahun of Addis Ababa University.

Commenting on what the funding has meant to the implementation of their research, Dr Ceccarelli said: “The funding from the Olam Prize has allowed us to start scaling up our approach and shift our focus from areas of high potential agriculture, to the food insecure and drought prone regions of Ethiopia. Specifically, the funding is being applied to 4 key areas: engaging local and regional planners, in-situ data collection on bio-physical and socio-economic conditions, developing the GIS-based tool behind IM4FS, and application of site-specific crop recommendations based on the research fed into and information generated by the tool.

“With the unexpected outbreak of COVID-19, we’re also reviewing with our partners how IM4FS can support more immediate and urgent food security needs for farmers amid the pandemic. This would include planning efficient seed, fertiliser and other input distribution to farmers based on needs assessments.”

Meanwhile, since receipt of the 2017 Prize funding, the heat-tolerant wheat varieties developed by Dr.

Filippo Bassi of ICARDA, are now well-established in Senegal and Mauritania and have been

successfully cultivated for the first time by farmers in Benin, Togo, Ivory Coast, Ghana, and the

Republic of The Gambia.

“Despite extreme weather events Africa, and the disruption caused by the Covid-19 pandemic in Africa, I am happy to say that the activities enabled by the Olam Prize are advancing at full steam. Olam’s mill is Dakar is leading a partnership with other local millers to provide an ideal market for farmers to sell their new grain and with the expansion of heat tolerant wheat now included as a strategic approach in the Adaptation of African Agriculture (a joint initiative by African Ministries of Agriculture), we can reach many more farmers.

“Indeed, the Olam Prize, and the communication campaign that followed, has truly helped promote the use of this technology and get farmers interested. Since the initial press release, ICARDA has been contacted almost weekly to provide seeds to different farmers and scientific organisations around the globe. The true power of the Olam Prize goes well beyond personal recognition to really helping people learn and deploy new progressive ideas for sustainable agriculture.”

Applications are welcomed from academic or research institutions, civil societies and the private sector, and can focus on any region, environment, crop or part of the agricultural supply chain.

Submissions must be made via the Agropolis website. The deadline for application submissions is 23:59 CET (France) 11 January, 2021.

Applications received before 30 November 2020 will be considered for publicity opportunities on Olam’s corporate channels.

The 2021 Prize will be judged by an independent jury of experts and awarded in conjunction with the Agropolis Louis Malassis International Scientific Prizes for Agriculture and Food and SHIFT Prize by Biovision Foundation.

Stanbic IBTC Donates COVID-19 Test Kits to Lagos State Govt

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L-R: Bridget Oyefeso-Odusami, Head, Marketing and Communications, Stanbic IBTC Holdings PLC; Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Holdings PLC; Dr. Ismail Abdus-Salam, Director of Epidemiology, Biosecurity and Global Health and Incident Manager, PHEDC, COVID-19 Response, Lagos State; Dr. Babatunde Saka, Technical Consultant, Biosecurity, Lagos State and Global Executive Secretary, GET Consortium and Dr. Bamidele Mutiu, Director, Lagos State Biobank of Consultant Clinical Microbiology during the Donation of COVID-19 Test Kits to Lagos State at the Infectious Disease Hospital, Yaba, Lagos State.

Stanbic IBTC Holdings PLC, Nigeria’s leading end to end financial services provider, has further strengthened its support for the government’s fight against the COVID-19 pandemic through the donation of test kits to the Lagos State Government.

As the novel coronavirus enters community transmission stage, it becomes expedient to increase tests, hence the timeliness of the donation of test kits by the Stanbic IBTC group. The kits were officially presented to  Lagos State Government at the Lagos State Biobank, Mainland Hospital, Yaba on Tuesday,June 30,2020  

Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Holdings PLC, reiterated the importance of supporting the Lagos State government’s testing capacity, considering the upsurge in the number of confirmed cases in the state.

He said “Lagos State has recorded the highest number of confirmed cases in Nigeria since the outbreak of the virus. Being the most susceptible city in the country, we must not relent in our efforts to help in identifying those who have been infected so that proper treatments can be administered to them.”

He further noted: “Proper testing precedes treatment and the requisite treatment and care saves lives. We have made various contributions towards fighting the pandemic and we also deem it necessary to support the government in the area of testing. All hands must continue to be on deck until the virus is finally defeated.”

The representative of the Lagos State government; Dr. Ismail Abdus-Salam, Director Epidemiology, Biosecurity and Global Health & Incident Manager, COVID 19 response, expressed gratitude on the donation of the test kits.

He said: “The fight against the COVID-19 pandemic is a joint responsibility and working together to defeat this common enemy is the most potent way of overcoming this pandemic. We are delighted that a leading financial institution like Stanbic IBTC recognises this and has continuously supported the government in this cause.”

Dr.Abdus-Salam further said that the donated kits would increase the state’s testing capacity, thereby leading to early detection and proper care and treatment for those found to have been infected. He also called on other organisations to emulate the Stanbic IBTC example in supporting the government’s effort in the fight to curb the spread of the virus.

Stanbic IBTC Holdings PLC in line with its Corporate Social Initiatives, with health as one of its pillars, has made financial donations to various governments and institutions since the confirmation of COVID-19 cases in Nigeria.

The other States that will benefit from the donation of test kits include Borno, Cross Rivers, Ebonyi, Kaduna, Ondo, Rivers as well as the FCT.Past efforts include financial donations to the Coalition Against COVID-19, Fate Foundation and AkwaIbom State government.

 

Ecobank Transnational Inc Holds 32nd AGM as Shareholders Approve Resolutions

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Ecobank Transnational Incorporated (“ETI”), the parent of the Ecobank Group, the leading pan-African bank with banking operations in 33 countries, concluded its 32nd Annual General Meeting (AGM) & Extraordinary General Meeting in Lagos, Nigeria.

For the first time in the history of ETI and in line with preventive measures to curb the spread of COVID-19, attendance at the General Meetings was mainly by proxies in accordance with the Articles of Association of the Company.

Ecobank Group Chairman Emmanuel Ikazoboh said: “We are in the final lap of our five-year ‘Roadmap to Leadership’, having laid and achieved much improved business and operational foundations, leadership in digital products with scalability, strong corporate governance and continued expense discipline. We continue to focus on making substantial strides towards ensuring a return on equity above the cost of capital across the Group despite the challenging economic conditions especially with the COVID-19, whilst also maintaining our commitment to driving economic development and financial integration across Africa. This was my last AGM, as I have now completed my tenure as director and Chairman. As I retire, it has been a privilege for me to have served this great institution andI am particularly proud of what we have achieved. I am further assured and confident that my able successor as Chairman, Mr. Alain Nkontchou will continue to lead the Board in our journey to leadership. The world has its eyes on Africa, and we are positioning our Bank in a way that continues to ensure its commitment to, and development of the continent.  I will remain a strong ambassador of this great institution and its ideals”.

Ade Ayeyemi, Chief Executive Officer of Ecobank Group, said:“I must first and foremost, pay tribute to our outgoing Chairman, Mr. Emmanuel Ikazoboh, who has served the group diligently during his tenure. On behalf of Management, I extend our immense admiration for the invaluable stewardship, counsel, strategic expertise and oversight that he so willingly provided. I also seize the opportunity to congratulate and welcome on board our incoming Chairman Mr. Alain Nkontchou and look forward to working with him as he leads the Board.2019 was a year of substantial progress for the Group on multiple fronts as we broadened our innovative product range with our upgraded core banking application platform, increased customer numbers, established new partnerships and initiated programmes to transform customer experience and embed the desired conduct, culture and ethics throughout the organisation. Each of our three business lines improved their profitability and positioned Ecobank for sustainable long-term success. Post-year end, the effectiveness of our digital ecosystem came into sharp focus amid the current global challenges of the Covid-19 pandemic, enabling us to provide seamless continuity of service to our customers. The virus is having devastating effects and is causing severe disruption to families, businesses and economies across our sub-Saharan footprint and we continue to provide our unwavering support in these unprecedented and extremely challenging circumstances.”

Shareholders were pleased with ETI’s progress in 2019 and approved all the resolutions at the AGM, which included the election of two new directors – Professor Enase Okonedo and Mr. Simon Dornoo. Professor Enase Okonedo will replace Ms Arunma Oteh who has resigned from the Board.

Shareholders also ratified the co-option of Mr. Deepak Malik, a nominee of Arise B.V, Ms. Zanele Monnakgotla, a nominee of Public Investment Corporation and Dr. George Agyekum Donkor, the representative of Ecowas Bank for Investment & Development as directors,

The mandates of the firms – Deloitte &Touche, Nigeria, and Grant Thornton, Côte d’Ivoire as Joint Auditors were renewed.

The AGM was followed by an Extraordinary General Meeting at which Shareholders voted for the cancellation of the resolution on the consolidation of shares earlier approved on June 17, 2016.

Shareholders also voted for the amendment of Articles of ETI including a provision for the option of electronic general meetings going forward.

Tackling the Hazard of Protein Deficiency

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Proteins are macronutrients. They are an indispensable part in the hierarchy of foods. Macro-nutrient refers to foods that the body needs in large amounts. The other two macronutrients are carbohydrates and fat.

Proteins are made up of millions of smaller units called amino acids, which are attached in long chains. Amino acids are the building blocks of proteins. They play very important roles in the body, which includes improving metabolism and enabling detoxification. They are necessary for tissue growth and the absorption of vitamins and minerals that are vital to health.

Proteins are present in almost all living things. They are found everywhere, from tiny microscopic cells to the largest trees found in forests. As abundant as protein is on the planet, it is not found in all food sources. Some staple foods in Nigeria like bread, cassava, yam tubers, millet, sorghum, maize (corn), all lack protein.

Being dependent on a diet of staple foodstuffs that lack protein, will undoubtedly result in protein nutrient deficiency. Protein deficiency is the significant absence of protein in the body. It affects all ages and cuts across all demographics.

This has become an issue for Nigeria; a country plagued by malnutrition and poverty. With a population of over 200 million inhabitants, the country has the seventh largest population in the world; and is the most populous in Africa.

The report of recent national survey, the Nigeria Protein Deficiency Report, indicates that 51 per cent of respondents do not consume adequate protein-rich foods, due to high cost.The report is the brainchild of the Nigeria Protein Deficiency Awareness Campaign aka Protein Challenge.

The report also showed that the fundamental factors determining the necessity of meal items consumed across the country are availability (79 percent) and affordability (68 percent).

Highlights of the report indicate that carbohydrates are the most consumed food amongst Nigerians. Rice topped the list with 91 percent, closely followed by ‘swallows’ (such as eba, pounded yam, tuwo, amala, etc.) at 83 percent. 58 percent of sampled institutional providers (dieticians and nutritionists) insisted that the protein intake of Nigerians is generally quite insufficient.

Looking at the statistics, it is no wonder that protein deficiency is prevalent in many communities, and indeed the nation at large. Fortunately, there are ways to resolve this challenge.

First, the federal government, following the identification of the zones where protein deficiency is the most prevalent, must co-ordinate efforts to provide immediate aid to the citizens in dire need of treatment. Of course, this should be done in agreement with the state governments.

Secondly, eating right is one way to curb protein deficiency issues. However, this takes practice. If an individual just attempts to rapidly change what they eat overnight, the truth is, they will fail – terribly! This must be done gradually. Health-conscious dieters, and even experts, advise that changing to a healthy diet is a gradual process. For example, if one eats eba or bread regularly, it won’t be easy to suddenly stop eating these meals and switch to a balanced diet.

People need to understand that it is more valuable to eat protein rich meals like beans, soy, eggs, dairy, etc. — even on a low income. The focus should be on the nutritional value, always.

The government again has a vital role to play. It can start by implementing policies to expand the economy, reduce unemployment, and moderate the overall price of healthy foodstuffs. It should give farmers more access to funding to ensure that their crops are of the highest quality.

Besides, it must promote and support efforts to make nutritious foods more affordable and available for the masses. This will go a long way in catering to the poor citizens who cannot meet the expenses of some food items.

Finally, the media organisations need to be actively involved. They must work with relevant governmental and non-governmental organisations to create awareness of the challenge of protein deficiency in the society. With knowledge comes the incentive to do right by eating right.

This is precisely why the Protein Challenge media campaign is timely and germane. It will serve to draw public attention to the challenge of protein deficiency, and to educate Nigerians on the benefits and imperatives of consuming protein-rich diets

It is important for all to work together so that protein deficiency can be significantly mitigated in Nigeria, if not completely eradicated.

 

 

Ecobank Extends Zero Charge for Digital Money Transfers

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Ecobank has extended its zero charge fee for digital money transfers below N5,000 till the end of September this year. In addition to the free USSD session fee currently enjoyed by Ecobank customers, users of Ecobank Mobile, Ecobank Online, USSD – Ecobank *326# can continue to enjoy zero fee charge for digital money transfers below N5,000.

New customers can also benefit from this by opening an Xpress account from the comfort of their homes by simply dialling *326#.  The zero charge for mobile money transfers by Ecobank commenced in March as part of the bank’s corporate action to cushion the rising spread of Corona virus.

The decision to extend the zero charge policy is hinged on the bank’s drive to continuously encourage citizens to adopt digital banking particularly with the ongoing social distancing campaign targeted to check the spread of COVID-19.

According to Olukorede Demola-Adeniyi, Head, Consumer Banking, Ecobank Nigeria, ” As a bank, our priority is people’s wellbeing. We place great emphasis on rewarding and identifying with our customers and citizens of Nigeria especially at a time like this. We are determined to ensure that the impact of the pandemic is minimal on citizens. We encourage our customers to utilize our digital self-service solutions including Ecobank mobile app, Ecobank Online, EcobankPay, Ecobank Omniplus, Omnilite and the rapid transfer app; where they can easily access their  bank accounts, make payments, transfer funds, process salaries and carry out ancillary banking transactions from the comfort of their home and offices without having to visit the branches.”

She further stated that, ” At Ecobank, we are always finding ways to improve our customer experience digitally, which is why I encourage our customers to upgrade to the new Ecobank mobile app 4.0. Customers can carry out banking transactions and enjoy some of the new features that the app provides, such as the ability to send money via email or SMS and of course, take advantage of the zero charge on money transfers below N5,000.”

She added that the bank was also supporting over 50,000 farmers across the country to grow maize, under the CBN Anchor Borrowers program with the Maize Growers, Processors and Marketers Association of Nigeria (MAGPAMAN).

 

 

COVID-19 Learnings – A Bird’s Eye View

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Gradually, the COVID-inspired lockdown has begun easing up. As we return to normalcy, the question is this: When all this is over; when sickness and deaths subside, when ventilators and face masks are back in storerooms, when health workers no longer fear for their lives in the line of duty, and when families and friends gather once again; what lessons would we have learnt as individuals or organisations?

COVID-19 has shaken even the strongest of us, raging beyond ideology and boundaries. However, despite the uncertainties, some individuals and organisations have borne great responsibility for the health and wellbeing of others in the country. They have given support in different ways: through money, resources, medical supplies, and generally lent a helping hand.

One organisation whose intervention effort brings a lot to the fore is the Interswitch Group. The group in many ways changed the narrative on how Nigerian businesses respond to global issues. They redefined partnerships and demonstrated the importance of technology. From their concerted efforts, here are some of the lessons we could glean from them:

Giving: While there have been a lot of acts of giving during these trying times, the lesson on giving from Interswitch stood out. In the face of the prevailing harsh economic situation, employees of Interswitch Group committed to contribute 10% of salaries, for three months, as their quota in fighting the pandemic. The management and board complemented that act and together a total sum of N305 million was raised. These funds have been used for several COVID-19 initiatives across the country, including the sponsorship of the Edo State Molecular Laboratory and donation of a CPAP machine to Ogun state.

With this selfless gesture, they were able to show us that we don’t have to be very rich to give, we can share from the much we have.

 

Charity Begins at Home: The Interswitch Group and its employees drove home the meaning of this old saying in the recent past. Driven by the vulnerability of the people around its operational environment, the company, through its payment card scheme subsidiary – Verve international – set up the Verve Food Bank Initiative through which raw food items were provided for a critical subset of their community.

While they may not be able to reach out to everyone adversely affected by the economic implications of the pandemic, they identified a uniquely endangered subset within their immediate environment for their relief activities. These critical groups included the vulnerable people and families of men of the armed forces, all around the Eti-Osa Local Government Area.

Working with the Lagos State Feeding Programme (Eti-Osa Local Government Area) and the Young President Organisation (YPO), they set up four Verve Food Bank Centres across the LGA.

 

Redefining Partnership: Being a forward-thinking organization, Interswitch leveraged existing relationships and even pursued new ones with the aim of fighting the pandemic.

They partnered with PAX Technologies to provide infrared thermometers and facial masks for Nigerians. They also partnered 23 state governments across the country with support efforts such as:set up of isolation centres, procurement of rapid diagnostic testing kits, deployment and management of its COVID-19 pathway platform, payment of health workers allowances, donation of raw foodstuffs to indigent communities and procurement of other medical equipment and consumables.

 

Leveraging Technology: Another interesting lesson from Interswitch Group was the use of technology to beat the odds.

In the light of the new normal (work from home, stay at home) the adoption of technology has become imperative. Owing to the integral role payment plays in our everyday lives, the Interswitch Group has enhanced all of its technology competencies across its operations and with partners. Across the Interswitch networks, Nigerians can make safe, convenient and fast payments using ATM, PoS, credit/debit cards, mobile apps, online platforms etc. The Quickteller platform has been further enhanced to allow for robust options for payments, collections and funds transfer.

With the support of the Interswitch platform, partner banks can service their customers remotely. Also, by committing to deploying contactless payment options, the company will be using technology to curb the spread of the virus.

 

Leveraging Core Competence: To further support the fight against the virus, the company is leveraging its core competencies to provide solutions. Through its health tech subsidiary, e-Clat Healthcare Limited, Interswitch built and activated a user-friendly, locally nuanced first-line intervention platform with which Nigerians can perform remote self-assessment to determine their risk and pre-disposition to the coronavirus.

 

Value of People: From all of Interswitch’s efforts, we cannot but notice the immeasurable value of people. From the people at Interswitch contributing together to amass a huge sum, to Interswitch’s value on the people in their immediate environment and the need to connect with them in the difficult times. The importance of forging alliances with other people to drive solutions and interventions to fight the coronavirus. The uncommon recognition of the contributions of the security personnel helping to maintain peace and order in our society during the lockdown. The deliberate transparency in handling the collective funds’ expenditure; to the staff and general public. The mere commitment to support the fight against COVID-19 shows the value the company places on the lives of the Nigerian people. This regard transcends class, sex, tribe and business affiliations.

The pandemic has been an opportunity to acquire several skills, adopt new habits and learn salient life lessons. These selfless acts by the Interswitch Group team and management show their commitment to the community and country. It should provoke us as individuals or organizations to use our greatest strengths and core competencies to serve greater purposes.

 

How NCC’s Strategic Management Plan Will Drive Digital Economy

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 Professor Umar Danbatta

Executive Vice-Chairman

Nigerian Communications Commission

The Honourable Minister of Communications and Digital Economy, Dr. Isa Ali Ibrahim Pantami, has explained that the new Strategic Management Plan (SMP) 2020-2024 by the Nigerian Communications Commission (NCC) will be a pedestal to drive the implementation of the Federal Government’s digital economy vision.

The Honourable Minister stated this during the virtual launch of the NCC’s five-year strategy plan in Abuja which was attended by few invited officials from the Federal Ministry of Communications and Digital Economy, the Nigerian Communications Commission, other sister parastatals under the Ministry as well as critical Stakeholders in the telecoms sector, who joined the launch virtually in compliance with the Federal Government’s directives on social distancing.

According to the Honourable Minister, the launch of the SMP demonstrated the Commission’s serious improvement in performance matrix and its efforts in accelerating the implementation of the National Digital Economy Policy and Strategy (NDEPS) and the National Broadband Plan (NBP) 2020 – 2025 of the Federal Government.

“I feel very excited for the fact that there is a serious improvement in the performance of the Nigerian Communications Commission (NCC). The launch of this SMP 2020 – 2024 is a clear indication of that. When a parastatal is performing, it will create an innovative idea on how to be more successful. When a parastatal is not performing, you will not hear anything on how to implement policies and come up with different strategies and plans,” he said.

Pantami stated that despite the enhanced performance of NCC, there is a need for the Commission to redouble its efforts. “We need to challenge and ridicule our previous successes by setting new records through the implementation of this SMP 2020 – 2024. The NCC Management must ensure effective implementation of this SMP,” he added.

Earlier, the Executive Vice Chairman (EVC) of NCC, Prof. Umar Danbatta, said the SMP is the fulcrum that will aid the NCC in driving its telecom regulatory mandate in the fast evolving telecoms industry, in the next five years. He said it will serve as a roadmap for the future of the Nigerian telecoms sector, taking into consideration the current and emerging trends in the industry and the numerous expectations of the diverse Stakeholders.

“The Federal Government’s economic diversification plans are focused on a robust digital economy, which will improve employment generation, as well as encourage innovation. This was prime in our minds during the formulation of the SMP.  We have invested great time and effort in ensuring that this document is pragmatic, and I am very confident and excited in its completeness to successfully guide the Commission in achieving the set objectives. We are committed to the implementation of this SMP,” the EVC said.

The Chairman Senate Committee on Communications, Distinguished Senator Oluremi Tinubu who was represented by Distinguished Senator Obinna Agbo, praised the Commission for its exemplary performance and averred that the new SMP 2020 – 2024 would ensure the Commission is on course to deliver on the mandate of the Federal Government for a digital economy. Distinguished Senator Tinubu wished the Commission success in implementing the Plan.

Speaking in the same vein, Deputy Director, Corporate Planning, Strategy and Risk Management, Ms Helen Obi, said the development of the new SMP for the next five years was initiated with the lapse of the previous one and it would help the Commission to effectively harness its internal resources to deliver on expectations of its external stakeholders and the industry as whole.

“Our primary goal in organising the launch, therefore, is to present the finished work to our esteemed stakeholders and solicit your buy-in and support in ensuring that our shared vision and mission of providing best-in-class regulatory services towards achieving a digitized economy is sustainably accomplished,” she added.

In their goodwill messages to the Commission, the Chairman, Association of Licensed Telecom Operators of Nigeria (ALTON), Gbenga Adebayo; President, Association of Telecoms Companies of Nigeria (ATCON), Olusola Teniola and President, National Association of Telecoms Subscribers (NATCOMS), who joined the launch virtually, congratulated the Commission and expressed their view that the SMP 2020 – 2024 will add the needed impetus to the implementation of national digital economy policy of the government.

Over 700 estimated guests, including representatives of ministries, departments and agencies (MDAs), Chief Executives of telecoms companies, the media, among others, joined the launch online. At the same time, over 2,400 viewers watched the Facebook live video during the SMP launch.

About NCC’s SMP 2020 – 2024

SMP 2020 – 2024 is the visioning document of the Commission for planning, monitoring, analysing, and assessment of the Commission to meet its goals and set objectives. It has five pillars, which include regulatory excellence, universal broadband, promote development of digital economy, market development; and strategic partnering and 25 intended outcomes.  Five critical success factors identified for the implementation of the Strategy include: ownership and commitment, effective communication, human resource capacity, development of and adherence to a strategy development manual; and implementation discipline.

The Face of the new SMP is captured in the acronym: “ASPIRE 2024” (A: Advancement through S: Strategy P: Professionalism I: Innovation and R: Regulatory E: Excellence).

Ecobank Webinar: Rethink Your Business Culture over COVID-19–Experts

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Nigerians have been advised to move from the realm of denial, anger and accept the reality of the ‘new normal’ occasioned by COVID-19 pandemic by properly articulating their goals and developing a financial plan based on available resources.

This was the submission of investment and financial experts at the Ecobank Webinar on the topic: ‘Personal financial stability in a changing environment: achieving balance in the new normal’, held in Lagos last week.

In his presentation, Olufela Popoola, Managing Director, EDC Fund Management Limited, a subsidiary of Ecobank Group, pointed out that though commodity prices are stabilising and stock markets are recovering globally, Nigeria is in recession mode with increasing inflation, pressure on exchange rate and increased government borrowings.

He posited that individuals and businesses should worry less about the current realities, but start to think differently as they positively forge ahead.  Specifically for individuals, it was time to carefully review their life’s goal and objectives and thereby; – review/develop a financial plan,  align this plan to the current financial realities and  their expected future resources and ensure that these plans become a reality by having structured investment programmes to achieve same.

“To adapt and stabilise, rethink your business culture. Focus more on goals, not (necessarily) processes, listen more to customers & respond quicker, change working style –flexibility, Study what competition is doing –be more professional, Improve internal communication & information sharing and Change working conditions to be more employee oriented. This is not the time to procrastinate. Don’t think you have too little or too much funds to start a plan, but rushing to start an investment may not be the best for now. You need to consider risk, returns and time horizons. As a matter of fact, this is the time to speak to experts like us at the EDC Fund management. Investment options and plans include corporate bonds, government securities, private equity, Eurobonds, life insurance, real estate, commercial papers, and managed portfolio, among others.’’

Also speaking, Okey Okere, Country Manager, Hofstede Insights Nigeria, made a case for people to rethink their lifestyle and business culture to adapt and stabilise under the ‘new normal’.  According to him, “there are countless speculations about changes to the whole-world as we know it, but we can’t really tell how COVID-19 will change the world forever, what the “new normal” will eventually be, how long it will last and the impact on the world, Nigeria, businesses and our personal finances. But one thing is sure, we need to make changes.”

Okere listed the businesses that that are making gains despite COVID-19 pandemic as ICT services, e-commerce companies, personal care products, agriculture, food retailers and local delivery companies, adding that sectors such as aviation and shipping, consulting and professional services, education, financial services, manufacturing (non-essentials), real estate, automobile, and others are negatively impacted.

He counselled businesses to focus more on goals and not necessarily processes, listen more to customers and respond quicker, change working style, study what competition is doing, improve internal communication and information sharing and change working conditions, stressing that if the effects of the pandemic hurts too badly, there might be need to wind down business entirely.

This edition of the Ecobank Webinar series is an initiative of Ecobank Consumer Banking Segment, aimed at deepening conversation on the new normal for businesses and how individual can harness new opportunities in the face of COVID-19. The virtual engagement attracted participation from amongst Ecobank Personal Banking customers comprising, individuals and business owners from different sectors of the economy and financial experts who joined across virtual platforms and social media handles. Ecobank’s unique and largest pan-African platform is designed to help unlock the opportunities of the continent and for the continent, through standardization, fueling regional integration, trade and investment across borders.

Due to its sterling performance, the bank has been severally recognised as ‘Best Retail Bank in Africa 2019’ at African Banker Awards and also as Most Admired Financial Services Brand in Africa 2019 by Brand Africa 100.”