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Business

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Stanbic IBTC Holdings Announces 9th Annual Together4ALimb Walk

Stanbic IBTC Holdings, a member of Standard Bank Group, is set to host the ninth edition of its annual flagship corporate social investment initiative, the Together4ALimb Walk.

The event, which is scheduled to take place on Saturday, 25 November 2023, in Lagos, reaffirms Stanbic IBTC’s commitment to supporting children living with limb loss.

This year’s Walk will witness an increase in beneficiaries, welcoming 45 new children into the program, bringing the total number of beneficiaries to 100 aged three to eighteen years from various parts of the country.

The event, which is themed “Wellness in Motion,” will cover an eight-kilometer distance by physically present attendants in Lagos, while global participation will be monitored through the Steps by Stanbic IBTC App.

Dr. Demola Sogunle, Chief Executive of Stanbic IBTC Holdings, highlighted the initiative’s past impact on 55 beneficiaries and emphasised its potential to impact even more lives in 2023. He added that Together4ALimb has provided hope and empowerment to beneficiaries since 2015 and enabled them to pursue aspirations with the support of prostheses and the education trust provided by Stanbic IBTC.

Dr. Sogunle stated: “This year, Stanbic IBTC welcomes 45 new beneficiaries—the largest intake since the inception of the initiative. This will bring the total number of beneficiaries, aged between 3 and 18, to 100. Each child will receive prostheses and a 1.5 million Naira educational trust fund. The initiative addresses health and education needs, and the walk sends a powerful message advocating for underserved children with limb loss.”

Well-wishers are urged to join Stanbic IBTC in making a difference by participating in the Together4ALimb Walk. Dr. Sogunle encouraged global participation through the Steps by Stanbic IBTC App, available on the Apple iOS Store and Google Play Store.

Participants will be rewarded with certificates of participation based on steps recorded, providing a tangible impact on the lives of resilient children and contributing to a brighter and more inclusive future.

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Topics

IMF Seeks Increase in Banks’ Capital Requirement in West Africa

Citing rising level of non-performing loans at 15.7 per cent and commercial banks’ borrowing from their central banks at nine per cent of liabilities in the West African Economic and Monetary Union (WAEMU), the International Monetary Fund (IMF) has strongly advocated increase in banks’ capital adequacy requirements to maintain sound financial stability for regional economic growth. The Fund observed that while the average capital adequacy ratio of banks (9.3 percent) was above the minimum required (8 percent) at the end of June 2014, it was however lower than the minimum required in half of the countries in the region, just as the level of non-performing loans reached 15.7 percent of total loans.

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ZTE says that it has signed a deal with Japan's SoftBank to collaborate on research and development on pre 5G networks technology. Under the MOU, the two companies will cooperate on R&D, evaluation and verification of mobile communications solutions based on ZTE's Pre5G technology, including Massive MIMO (multiple input multiple output).

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