Connect with us

Business

Unity Bank Supports Mentorship for 600 Young Professionals

Published

on

Unity Bank

Unity Bank Plc has thrown its weight behind the 2019 YP (Young Professionals) Lagos capacity building workshop, which featured mentorship of 600 young, courageous and ambitious professionals by 60 Captains of industry in Lagos.

The programme is an avenue for the participants to build potential career defining relationships with mentors found among industry chieftains facilitating different roundtables.

According to the organizers, the YP capacity building workshop is exclusively targeted at young professionals of 35 years old and below, who in their professional or career pursuits are already budding entrepreneurship initiatives. “We therefore convocated 60 breakfast roundtables to create interaction, experience and knowledge sharing in addition to giving opportunity for participants to benefit from consulting with captains of industry after the workshop”, Wale Adenuga, promoter of Unboxed Conferences and YP, Lagos has stated.

Commenting on the lender’s support for the programme, Managing Director/Chief Executive Officer, Unity Bank, Mrs. Tomi Somefun said the bank is interested in this program due of its transformative and pivotal concept in promoting young professionals in the Micro, Small and Medium scale Enterprises (MSMEs) space which is well in line with the Bank’s Corporate Social Responsibility programme as well as the Central Bank of Nigeria’s Youth Entrepreneurship Development Programme (YEDP).

Also Read:  Heritage Bank Partners Next Generation to empower Nigerian youths

She stated that Unity Bank has a technology-driven banking platform, a lifestyle product with an innovative app known as UniFi that appeals to undergraduates, young school leavers and professionals in early career life, as well as young and educated craftsmen setting up workshops and businesses to achieve their aspirations, adding that the mentorship outreach connects with the Bank’s youth market proposition.

Mrs. Somefun therefore shared the optimism that the creativity of participants has received a boost from our interactions in this workshop. Her words: “There are so many challenges associated with berthing a business in the country but by plugging into the ideas and experiences shared by captains of industry in this workshop, the minds of the young professionals has opened to a whole new world of opportunities to enable them start building businesses if they have not started already, and equally deepen their market base to even grow beyond micro, Small and Medium level they might have been operating”.

Also Read:  Unity Bank MD/CEO, Henry J. Semenitari, Awarded “Banker of the Year 2014”

The 2019 YP, Lagos is a relaxing atmosphere created for 10 people with an industry leader sitting around to take and answer questions and share insights on various aspects of entrepreneurship as well as guidance on ways to overcome challenges over a breakfast table that has been set up.

Every participant received certificate of participation signed by the leader on their table. Unity Bank partnered with other institutions such as the Bank of Industry, etransact, Mascot, mobihive, Niger Delta Exploration & Production Plc, among others, to ensure the success of the programme.

The CBN’s YEDP was launched on 15th March, 2016 to enhance the deployment of the ingenuity and resourcefulness of Nigerian youths for maximum economic development.

# # #

Share

Business

Dangote Cement Woos Investors With N100 Billion Issue

Published

on

Dangote Fertilizer

 

Dangote Cement Plc, Africa’s leading cement manufacturer, is seeking to raise up to N100 billion in fresh funds from the bond market, under its NGN300 billion Debt Issuance Programme.

According to the Investor presentation document prepared by the company and themed: Building Prosperity in Africa, the funds from the  debut offering in the bond markets are to be utilised   to refinance existing short-term debt previously applied towards cement expansion projects, working capital and general corporate purposes.

The bond (medium term debt paper), Dangote Cement is issuing for the first time signifies confidence in business growth and in the Nigerian economy long term growth.

Dangote Cement Plc is a good offer for discerning institutional investors and high networth individuals as it is Nigeria’s largest company by market capitalisation on the Nigerian Stock Exchange, the largest cement manufacturer in Sub-Saharan Africa with an installed capacity of 45.6Mta across its’ operations in 10 African countries and operates a fully integrated “quarry-to-customer” business in 7 of its operations with activities covering manufacturing, sales and distribution of cement.

Also Read:  Tony Elumelu to Speak on Power Access, Climate Change, and Africapitalism at Major Events in New York, Paris, and Oxford

The company which is Premium board listed on the Nigerian Stock Exchange(NSE), has a strong corporate governance framework supported by five Independent Directors while its shareholding base is diversified.

Dangote Cement posted an excellent financial performance in 2019 with
EBITDA margins of 44.3 per cent. It was rated ‘Strong financial profile including low leverage and significant operational scale.’ (GCR AA+(Ng) (Jan 20) Moody’s Aa2.ng (Mar 20)

The company has a strong track record in the debt capital markets, having registered a NGN150 billion Commercial Paper programme in 2018, and issued an aggregate amount of NGN300 billion in Commercial Paper since programme establishment.

Also Read:  Frenzy As GTBank Calls For Casting

It also has a track record in Nigeria’s Debt Capital Markets as it raised an aggregate Issuance of N100bn under the Commercial Paper Programme in 2018, in 2019, raised an aggregate Issuance of N200bn under the Commercial Paper Programme.  These Commercial Papers were systematically oversubscribed.

Certain factors across Africa signal positive long term trends for Dangote Cement. There is an increasing demand for cement as urbanization continues across the continent, demanding more infrastructure, housing and commercial building. As democracy becomes entrenched in African states, it brings increasing political stability enabling rapid economic growth, growth in infrastructure such as roads, housing, schools etc built from cement.

With steady population growth, younger and more mobile population drive the need for building while the emerging middle-class, fuels increasing consumerization
and access to credit.

Share
Continue Reading

Business

Coronavirus: Sterling Bank Launches N1bn Health Workers’ Fund

Published

on

Sterling Bank

Sterling Bank Plc, Nigeria’s leading commercial bank has launched a N1 billion Health Workers’ Fund to support frontline healthcare professionals who are taking care of persons infected with the Coronavirus disease (Covid-19) in the country.

To kick-start the fund, the bank donated N25 million while some public-spirited individuals have also donated N2 million, bringing the amount raised so far to N27 million.

Chief Executive Officer of Sterling Bank, Mr. Abubakar Suleiman, who disclosed this over the weekend while addressing a virtual press conference hosted by the bank, enjoined well-meaning and public spirited Nigerians to contribute to the fund through the website of Giving.ng, a crowdfunding platform. Citing the unusually high rate of cases of healthcare workers infected by the virus in the course of treating patients in countries like Spain and Italy, Suleiman said it is imperative that tangible efforts are made to protect the healthcare personnel at the frontline of fighting the infection, especially given their low number in the country. “There was a particular point in Spain when 14 percent of those infected were healthcare workers, and we felt that if we were to have that level of infection among the limited number of healthcare workers in the country, the effect would be far-reaching and disastrous. So, we decided to intervene.”

According to Suleiman, the bank understands that getting the money with which to pay healthcare workers on the frontline and acquire protection equipment for them is critical.

Also Read:  Slip and Fall Accidents, Major Threat to Human Lives – Safety Expert

Consequently, the bank would be working with people who are experts in public health or connected with the healthcare system to identify the healthcare workers who are deserving of this intervention, he said.

“Combating COVID-19 is beyond the capacity of any single institution or sector. It is a crisis that is stretching the capacity of healthcare infrastructure and personnel world over. And stopping this pandemic requires the elimination of boundaries to resources. One way to do that is by setting funds aside to support brave medical responders at this time,” he added.

Expressing the hope that the fund will trigger a better way to treat health workers in the country, he disclosed that the bank has set up an independent Governance Board made up of seasoned health professionals to administer the fund while the bank concentrates on raising funds from various donors.

“Although we started the process but we have pulled back. We have set up a board that I am incredibly proud of. They will join us in solving this problem which is the most important part and they are highly respected which makes the process credible,” Suleiman said.

Commending Sterling Bank for setting up the Health Workers’ Intervention Fund, Dr. Olaokun Soyinka, Chairman of the governing board, promised that the board will evolve rapidly to stay ahead of COVID-19 developments and discharge its duty transparently. He assured Sterling Bank, the media and the general public that the board will do its best to ensure that the fund gets to workers at the frontline of the fight against COVID-19. He thanked the management of the bank for its decision to focus on the often neglected area of incentivizing health workers. The Health Workers’

Also Read:  Unity Bank Introduces UnityBiz Account to drive the SME franchise

Intervention Fund “is such a good idea and critical intervention, so critical that we must hang on to this by ensuring we expand both the scope and need. You have turned over the stone that will meet many areas of need in the health sector,” he said. Other members of the governance board are Dr. Halimah Sanda, State Technical Lead Programmes at Clinton Health Access Initiative (CHAI) Kano; Dr. Victoria Omoera-Egunjobi, Deputy Director, Lagos State Ministry of Health; Mr. Obinnia Abajue, CEO of Hygeia HMO; Ms. Oluwatoyin Adegbite-Moore, board member of the African Venture Philanthropy Alliance (AVPA), and Mr. Daniel Ikuenobe, chairman of Edo State Economic Management Team and a Special Adviser to the Edo State Governor on economic matters

 

Share
Continue Reading

Business

Prudential Zenith Life Insurance Unveils Additional Benefits For Customers Affected By COVID-19 Pandemic

Published

on

Prudential Zenith

 

Following the launch of its Coronavirus (COVID-19) initiative, Prudential Zenith Life Insurance has announced some additional benefits designed to address the negative impact of the Coronavirus (COVID-19) pandemic, which has claimed thousands of lives globally.

According to a statement released by the company, the benefits which apply for a period of 45 days – from April 3rd to May 18th 2020 – will ensure that customers who have purchased or who intend to purchase any of the following Prudential Zenith Life products: My Family Protection Plan, My Family Protection Plan Premier, My School Fees Protection plan, PZL Term Assurance, PZL Hospital Plan and My Savings Plan-Premier will enjoy a ‘Diagnosis Benefit’, which entitles the insured who has been diagnosed with the COVID-19 virus by the State to a cash amount of thirty-eight thousand and a ‘Treatment Benefit’ of nine thousand daily for a maximum period of 25 days to cater for losses or incidental expenses.

The statement further noted that the company has reduced the normal waiting period from 6 months to 14 days for these benefits to apply to any new customer, while for existing customers, these additional benefits apply immediately.

Also, for any customer who has bought a policy from the company and who is diagnosed with COVID-19 or who is formally retrenched as a result of a business having to close due to the COVID-19 pandemic, it will provide a three-month premium holiday. This means that the policy will not lapse and the customer will still enjoy the protection benefits of their policy even if they are unable to pay their regular premiums during this period. This is in addition to any ‘Death Benefits’ that are payable when due, as the company does not exclude death caused by COVID-19 under any of its policies.

Also Read:  To make progress we must prioritise SMEs and the Creative Sector, Elumelu Says

To avoid any ambiguity, the company stated that it is important to note there are policy exclusions to this offering as listed below:
We are not liable to pay claims if:
1. Treatment is for any reason other than the contraction of the COVID-19 virus.
2. On or after the start of the policy, the Covered Person travelled to any country or area included in the list of “countries/ areas with active community transmission of COVID-19” as announced by the Nigerian Ministry of Health or World Health Organisation at the time of his/her travel.
3. The covered person is in self-isolation or hospitalised but has not been officially diagnosed and hospitalised by the State.

The following shall apply to new clients only:
a. The Covered Person(s) has already officially been diagnosed with or already has signs or symptoms of COVID-19 at the time of signing on to the Plan
b. The Covered Person(s) was under mandatory self-isolation in the past 14 days from the time of registration due to close contact with an infected person or having demonstrated COVID-19 symptoms.
Other Important Points to Note
a. The benefits will be provided for all clients that qualify with active policies.
b. Benefit are also available to ALL of our customers who’s employer has taken out a Critical Illness policy with Prudential Zenith Life” to “Group Life policy with Critical Illness rider
c. A claim can only be made once in respect of each Insured Life.
d. Covered Lives refers to all lives covered under the policyholder’s active existing insurance policy (ies) and includes all named individuals covered under a Group Critical Illness policy taken out by an employer of those individuals.
e. An Active Policy is a Prudential Zenith Policy which has not lapsed, been cancelled or terminated and on which premiums are received as stipulated in the contract of that policy.
f. All claim substantiating documents, should be duly stamped and signed by the issuing authority.

Also Read:  Slip and Fall Accidents, Major Threat to Human Lives – Safety Expert

Live life fully covered with Prudential Zenith.

Share
Continue Reading

Facebook

Trending

Copyright © 2019, February13 Media