Wema Bank’s profit rises by 59 per cent in 2014
Wema Bank Plc has declared profit before tax of N3.1 billion, for the year ended December 31, 2014, representing 59 per cent increase, against N1.9 billion it recorded in the corresponding period of December 31, 2013.
Experts tie Nigeria’s falling GDP to weak Naira, others
Recent GDP overview for the fourth quarter of 2014 by National Bureau of Statistics (NBS), indicate that the nation’s economy grew by 5.94 per cent (year-on-year), but the current figure was observed to have been lower by 0.83 per cent when compared with value recorded in the fourth quarter of 2013. The current GDP was also noted to have been lower by 0.28 per cent from figures of the third quarter of 2014.
1000 African entrepreneurs get $10m grant
The 1000 selected entrepreneurs will continue through the programme cycle over the next nine months. This cycle includes an intensive online training curriculum, mentoring, and participation in a two-day entrepreneurship boot-camp and the Elumelu Entrepreneurship Forum.
Bank of Industry’s initiatives in creating ecosystem for SMEs, by Olagunju
The Bank of Industry (BoI) has manifestly emerged the nation’s quintessential development finance institution, with its several initiatives that have enthroned single-digit interest rate regime in for value-added business operators. The bank’s Executive Director, Waheed Olagunju, in this interview with Business Editor, ADE OGIDAN, explained how BoI has strategically promoted the fortunes of Small and Medium Enterprise (SMEs) in the country. Excerpts.
Ecobank unveils SME Club initiative
“The Club also offers VIP lounge; priority access to banking services; Ecobank Webmall, the pan-African online shop; Ecobank Omni; the pan-African corporate online banking platform and partner benefits on our loyalty programme; preferred services in over 37 countries with Ecobank footprints across Africa.”
Matters arising from government’s review of pioneer status incentive: Is the holiday over?
For now, the FIRS appears resolute on this move. Affected companies must find amicable ways to resolve the issue and where necessary be willing to challenge the partial withdrawal through the courts.
N50b net outflow to tighten liquidity ahead of elections
At the end of the week, the currency closed flat after settling at N199/$ at the close of business, with CBN’s intervention to curtail further losses in the value of the naira.
African central bank governors’ caucus holds in Addis Ababa
The Caucus, which brings together the governors of central banks of a number of African countries, will provide a unique opportunity for governors to engage in structured dialogue on the issues that they would like to see reflected in the outcome document.
E-PPAN partners FSS 2020 group on Africa’s e-govt summit
The conference will allow exhibitions from participating organizations to showcase arrays of products and services, which will drive a citizen-centric e-services that is centred on improving efficiency in government service delivery, and foster greater collaboration between the private and public sector for sustainable development and economic growth.
AppZone lists measures against financial services limitations
TO deepen financial inclusion drive in Nigeria, AppZone, an indigenous banking and payment software solutions firm has proffered measures against challenges identified in the process. With focus on technology solutions, Appzone identified these challenges to include issues with suitability, accessibility, high cost of operations and physical constraints, among others. At a press briefing…