Sovereign Trust Insurance Holds 29th AGM in Lagos

Some members of staff of Ecobank Nigeria, Opolo Global...

International Monetary Fund and World Bank announced on April...

Mr. Olamide Olajolo Managing Director/CEO Coronation Insurance Plc Coronation Insurance Plc will...

Francis Dufay, the Managing Director of JUMIA Côte d’Ivoire has called for better infrastructure to foster rapid and sustainable growth of the e-commerce sector in Africa. He said Côte d’Ivoire "has the basics of the different types of infrastructure" needed for e-commerce and "the challenge remains to improve each of these elements." E-commerce is based on four key infrastructures: Internet, logistics, payment and the legal framework. Although JUMIA managed to transcend the limitations inherent to each type of infrastructure, allowing it to route some 2,000 parcels daily, several points would benefit from qualitative evolutions; including: Logistics with a need for; better roads, 3PL offering the highest quality of service at competitive prices and a more comprehensive addressing system. Payment; where the widespread adoption of cashless payment methods such as mobile money for which JUMIA enjoys the expert support of MTN, should be encouraged. The regulatory and organisational framework could benefit from more education for stakeholders for a better understanding of contractual implications. And internet, whose penetration estimated at 8 million people in Côte d'Ivoire, remains curtailed.

Ecobank Nigeria has donated food items to several state governments across the country as contribution to various initiatives aimed at cushioning the effect of the current lockdown on citizens. These palliatives are targeted at the most vulnerable members of the society who have been the hardest hit economically as a result of the current crises. Speaking in Lagos, Executive Director Commercial Banking, Ecobank Nigeria, Carol Oyedeji said this action would also go a long way in supporting members of the community who earn a daily wage and may not have the opportunity of working under the present environment. She noted that the donations are part of the bank’s Corporate Social Responsibility (CSR) and focused on providing support as best as possibleShe remarked that “as a bank we give strong priority to people’s welfare. We are determined to assist ordinary Nigerians during the current difficulties and this is one of the ways we are achieving this. We are also offering concessions to our SME Lending customers at this time given the strain on their cashflows and creating ease for the general public to transact digitally while at home”. Ecobank Group has so far contributed over US$3 million to the fight against COVID-19 across its footprint in Africa in line with the Bank’s commitment to the Region. The Institution is supporting governments, the World Health Organisation (WHO) and partnering with private sector operators to alleviate the effect of the pandemic on citizens. These have been in the form of cash, healthcare equipment, donation of supplies, awareness campaigns while also using digital platform to provide funds to beneficiaries of various funds being distributed. The Bank is particularly mindful of the needs of its communities and remains committed to providing the appropriate support required.    

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Businesses in Nigeria can securely request and receive payments...