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EBENEZER ONYEAGWU CALLS FOR INCREASED IMPACT INVESTMENT FOR AFRICA AT GLOBAL SUMMIT

Published

4 years ago

August 3, 2021

The Group Managing Director/Chief Executive of Zenith Bank, Mr. Ebenezer Onyeagwu, has called for increased impact investing in Africa for the continent to attain its full potential. He made the call during his keynote address at the Africa Investment Risk & Compliance Summit 2021 organised by the Emerging Business Intelligence & Innovation (EBII) Group which held at the prestigious University of Oxford, United Kingdom, on Friday, July 30, 2021. Mr Onyeagwu delivered his keynote address after the special keynote address by His Excellency, Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana & Commander-in-Chief of the Ghana Armed Forces, who was the Special Guest of Honour. Her Excellency Dr Amani ABOU-ZEID, The African Union Commissioner in charge of Infrastructure and Energy, also delivered a keynote address at the Summit.Delivering the keynote address with the theme “Leveraging Impact Investment Opportunities for Growth in Africa”, Onyeagwu described impact investing as an investment that yields optimal returns for investors, value for all stakeholders, and guarantees continued sustenance and existence of humanity. He decried the shallowness of Africa’s financial market as depicted by the fact that no African exchange is among the Morgan Stanley developed markets index, only two African exchanges (Egypt and South Africa) are in the MSCI Emerging Markets Index, and just six African exchanges are in the MSCI Frontier Market Index. He noted that although the International Finance Corporation (IFC) estimates that the global investors’ appetite for impact investing could total as much as $26 trillion, only approximately 8% of the assets of impact intent funds are focused on Africa. According to him, this is not significant enough, and Africa appears to be in the room but not on the table, considering that Africa is in dire need of investment and the continent’s 1.3 billion people represent about 17% of the global population of about 7.8 billion.Citing the immense opportunities in Africa that represent enormous investment proposition for discerning investors, including the huge population, large market and active labour force, and the rich natural endowment, Onyeagwu described Africa as “the new frontier” for global growth. He made a case for increased impact investment in Africa, noting that investment opportunities on the continent cut across agriculture, healthcare, housing, infrastructure, electricity, and the creative sectors.Onyeagwu exuded immense optimism on the coming into effect of the African Continental Free Trade Area (AfCFTA) initiative, which would create a single, continent-wide market for goods and services, business and investment as being in one country on the continent grants investors access to the entire continent. He also called investors’ attention to Africa’s rich natural endowment, which includes 60% of the world’s uncultivated arable land and 9% of the world’s freshwater bodies, noting that Africa holds enormous potential for organic food production. He, therefore, implored investors in the agribusiness value chain to focus attention in Africa for organic food production instead of genetically modified food in other climes.Onyeagwu also noted that as a socially responsible organisation, Zenith Bank continues to promote impact investment in Africa. For example, the bank has maintained strong advocacy for investment in Africa through its flagship sponsorship of “Inside Africa” on CNN for 16 consecutive years, which is helping to highlight the immense creativity and talent that abound on the continent and the enormous investment opportunities on the continent of Africa. He also said that the bank leverages its in-depth knowledge of the African market to guide investors and hedge their exposures. According to him, the bank has been on a steady Environment, Social and Governance (ESG) investment journey, which started with ESG integration as a business strategy as well as being a signatory to the Nigerian Principles for Sustainable Banking and the United Nations Environment Programme Finance Initiative (UNEP FI) Principles for Responsible Banking. For its efforts, Onyeagwu noted that Zenith Bank received recognition as the “Best Company in Promotion of Gender Equality and Women Empowerment in Africa” at the 2020 Sustainability, Enterprise and Responsibility Awards (SERAS).In his call to action, Onyeagwu called for a paradigm shift, noting that Africa is a work in progress, and leaders in the public and private sector should not despair. He encouraged leaders to champion the changes they want to see, pay close attention to responsibility and accountability in leadership. He also called for the de-risking of Africa through reforms, improved ease of doing business, respect for the rule of law and sanctity of contract, and human capital development. Onyeagwu expressed satisfaction with the several reforms of the Federal Government of Nigeria, including the Road Infrastructure Tax Credit Scheme (RITC), the establishment of the Rural Electrification Agency’s (REA) Rural Electrification Fund (REF), Infraco Plc, and several other development finance initiatives of the Central Bank of Nigeria. He also noted that several African countries, including Ghana, Kenya and Rwanda, are recording massive improvements in the ease of doing business, leveraging digital technology to simplify government processes and deepen the financial system.He implored Africans to see themselves as brothers and sisters, say no to xenophobia, and speak with one voice and not with discordant tunes. Onyeagwu implored the rest of the world to look at Africa as an investment destination that guarantees optimal returns. He noted that Africa has profound talent that abounds across the world and contributes to the development of these climes, and this should be reciprocated. He encouraged Africans to imbibe the spirit of UBUNTU – “I AM BECAUSE YOU ARE” since we are all connected in humanity.Zenith Bank is Nigeria’s largest and one of Africa’s largest financial institutions by tier-1 capital, with shareholders’ funds in excess of NGN1.1 trillion ($2.64 billion) as at December 31, 2020. The bank is a clear leader in the Nigerian financial space, with several firsts in the deployment of innovative products and solutions that ensure convenience, speed and safety of transactions.The Emerging Business Intelligence & Innovation (EBII) Group is an independent specialist compliance and global risk management consultancy firm offering education and expert consulting services to entities in the West seeking opportunities for diversification and growth in emerging markets and Africa. The Group supports African entities and governments with their risk management and compliance requirements and delivers practical and genuine support to firms by providing a comprehensive and relevant assessment of risks, enabling them to successfully navigate their risks and ensure adherence to their compliance requirements.

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JIM OVIA: FOUNDER/CHAIRMAN ZENITH BANK, REAFFIRMS STRONG COMMITMENT TO SHAREHOLDER VALUE AT THE NGX CLOSING GONG CEREMONY

Published

2 days ago

October 15, 2025

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L-R:GMD/CEO, Nigerian Exchange Group, Mr. Temi Popoola; Group Managing Director/CEO, Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON; Chairman and Founder, Zenith Bank Plc, Jim Ovia, CFR; Group Chairman, Nigerian Exchange Group, Alhaji (Dr.) Umaru Kwairanga; Director General, Securities and Exchange Commission(SEC), Dr. Emomotimi Agama; CEO, Nigerian Exchange (NGX), Mr. Jude Chiemeka; and CEO, Central Securities Clearing System Plc, Mr. Haruna Jalo-Waziri at the Closing Gong Ceremony of the Nigerian Exchange Limited, yesterday.

Zenith Bank Plc’s Founder and Chairman, Dr. Jim Ovia, CFR, accompanied by the bank’s Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, on Tuesday, October 14, 2025, carried out the prestigious closing gong ceremony at the Nigerian Exchange (NGX), marking a significant milestone in the bank’s continued partnership with the capital market and the official closing of the trading day. The ceremony highlights Zenith Bank’s strong relationship with the NGX and its commitment to transparency, accountability, and bolstering investor confidence. While speaking at the Nigerian Exchange, Dr. Umeoji expressed her delight in participating in the closing gong ceremony, acknowledging the NGX’s visionary leadership and innovative initiatives. “We are delighted to be here today to perform the closing gong ceremony – a symbol of shared progress and enduring partnership,” Dr. Umeoji said. “The NGX’s leadership has been very creative and innovative, and their electronic trading platform – X-stream played a pivotal role in the success of our recapitalization exercise, which achieved a 160% subscription. The bank’s stock price has doubled since the recapitalization exercise, from N36.50 per share to N68. Zenith Bank has also reported impressive financial results for the Half Year (H1) of 2025, becoming the most profitable bank in Nigeria and paying the highest dividend in the industry for the half year.””We are committed to creating value for our stakeholders and will continue to partner with the NGX to boost the Nigerian economy,” Dr. Umeoji added. “Our expansion strategy is focused on following our customers’ businesses and ensuring that we go to countries and economies where we can scale and provide more returns for our shareholders.”She stressed that the bank plans to make good on its promise of being investors’ delight by paying quantum dividends to its shareholders by year end. According to her “For us in Zenith, we are looking forward to paying more based on the confidence the market reposed on us. We are working assiduously to ensure that we do not disappoint the Market. We are going to continue to be the investors’ delight, and we assure the market that we would continue to pay enhanced dividends come end of the year.”Also commenting, the Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama emphasised the role of the NGX in creating value in the Nigerian economic space. He said, “I want to thank you all for making the market what it is. Without you, the market wouldn’t have seen the leap that it has achieved in the last one-and-half year. I spoke earlier that at my assumption of office, market capitalization stood at N55 trillion, today it is hovering around 89 trillion and 93 trillion. That was not done by a spirit, it was done by you. Your ability, tenacity, courage, vision and transparency have moved the market where it is. Our vision is that by next year, we will have the market at 200trn.”

The Doyen of the NGX, Alhaji Rasheed Yusuf while giving his remarks, lauded the Founder & Chairman, Zenith Bank Plc, Jim Ovia, CFR for his vision and leadership. He ended by referring to him as the “Doyen of the Commercial banking sector”.Zenith Bank remains committed to creating long-term value for its stakeholders while driving economic development in Nigeria. As the bank continues on its growth trajectory, it has its sights set on global expansion. The bank intends to strategically leverage the capital raised from the Market to enhance its scalability and deliver enhanced services to its valued customers.The Bank’s track record of excellent performance has continued to earn the brand numerous awards, including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the sixteenth consecutive year in the 2025 Top 1000 World Banks Ranking, published by The Banker and “Nigeria’s Best Bank” at the Euromoney Awards for Excellence 2025. The Bank was also awarded Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022, 2024 and 2025, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023.Further recognitions include Best Commercial Bank, Nigeria for five consecutive years from 2021 to 2025 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023 and 2024 Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for four consecutive years from 2022 to 2025 and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in The Banker’s Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 to 2025 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and 2024 to 2025 at the BAFI Awards. The Bank also received the accolades of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.Zenith Bank was also named Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024; Bank of the Year 2024. by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics. The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/ Public Offer of the Year at the Nairametrics Capital Market Choice Awards 2025.

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ZENITH BANK SIGNALS STRONG FULL-YEAR OUTLOOK WITH N51.3 BILLION INTERIM DIVIDEND PAYOUT

Published

4 days ago

October 13, 2025

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Zenith Bank Plc, on Friday, October 10, 2025, made good on its promise as it paid a total interim dividend of N51.3 billion to its shareholders for the Half Year (H1) 2025, at N1.25 per share. This significant payout represents over 60% increase from the N31.4 billion paid in H1 2024, demonstrating the bank’s commitment and enhanced capacity to continually generate value for its shareholders amidst a challenging macroeconomic environment.The dividend payment comes on the heels of the bank’s audited financial results for the half-year ended June 30, 2025, released to the Nigerian Exchange (NGX) in September 2025, which showcased a robust financial position and growth trajectory.Commenting on the dividend payout, the Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, said, “We are pleased to have paid this significant interim dividend to our valued shareholders. Our half-year results underscore our resilience and commitment to our stakeholders. Based on the momentum achieved in H1, we are confident in our full-year outlook and expect to exceed shareholders’ expectations by year end.”The substantial dividend payout reflects exceptional underlying performance as the Bank recorded a robust 20% year-on-year increase in gross earnings, rising from N2.1 trillion to N2.5 trillion in H1 2025. Interest income drove this performance with an impressive 60% growth, climbing from N1.1 trillion to N1.8 trillion. The Bank achieved this impressive increase in interest income through strategic repricing of risk assets and effective treasury management.The Bank’s total assets also expanded to N31 trillion in June 2025, representing steady growth from N30 trillion in December 2024, underpinned by a robust and well-structured balance sheet. Customer confidence remained strong, with deposits growing by 7% from N22 trillion to N23 trillion in June 2025.Zenith Bank’s shareholders can be assured of the bank’s continued focus on delivering exceptional value and growth, driven by its strong financial fundamentals and strategic initiatives.The Bank’s track record of excellent performance has continued to earn the brand numerous awards, including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the sixteenth consecutive year in the 2025 Top 1000 World Banks Ranking, published by The Banker and “Nigeria’s Best Bank” at the Euromoney Awards for Excellence 2025. The Bank was also awarded Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022, 2024 and 2025, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023.
Further recognitions include Best Commercial Bank, Nigeria for five consecutive years from 2021 to 2025 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023 and 2024 Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for four consecutive years from 2022 to 2025 and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in The Banker’s Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 to 2025 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and 2024 to 2025 at the BAFI Awards. The Bank also received the accolades of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.Zenith Bank was also named Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024; Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics. The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/ Public Offer of the Year’ at the Nairametrics Capital Market Choice Awards 2025

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Fidelity Bank Commences Disbursement of FGN MSME Intervention Funds

Published

1 week ago

October 7, 2025

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……Reaffirms Support for Women Entrepreneurs

Tier One Lender, Fidelity Bank Plc, has commenced the disbursement of the Federal Government of Nigeria’s (FGN) MSME Intervention Funds, administered by the Bank of Industry (BOI), to qualified SMES with a strategic focus on empowering women-owned businesses across the country.

The FGN MSME Intervention Fund is designed to provide accessible financing to micro, small, and medium enterprises (MSMEs) across all 36 states of the federation.

The intervention aligns with Fidelity Bank’s commitment to inclusive economic growth and its long-standing support for Nigeria’s SME sector. In this phase of the disbursement, the bank is prioritizing women entrepreneurs, reinforcing its belief in the catalytic role of women-led enterprises in driving sustainable development and job creation.

Speaking on the development, Osita Ede, Divisional Head, Product Development at Fidelity Bank Plc, said, “As a bank deeply committed to the growth of SMEs, we are proud to partner with the Federal Government and the Bank of Industry on this critical intervention. For this phase, we are placing women at the forefront because we recognize their resilience, innovation, and pivotal contributions to wealth creation and employment generation in Nigeria.”

Fidelity Bank has also put in place a robust structure to ensure seamless onboarding and fund disbursement. Leveraging its nationwide branch network, digital banking platforms, and experienced relationship managers, the bank is poised to reach and support entrepreneurs across urban and rural communities.

The bank’s emergence as a critical player in the disbursement of the FGN MSME intervention Fund strongly aligns with its ongoing initiatives as the leading supporter of SMEs in Nigeria. Recently, the Fidelity SME Empowerment Programme (FSEP) was launched at its Gbagada SME Hub in Lagos.

This flagship initiative provided 100 growth-ready SMEs with ERPRev-enabled POS systems, business software, receipt printers, barcode scanners, inventory support, bookkeeping and branding training, three-day masterclasses, and six months of post-installation monitoring—all at no cost.
Earlier in May 2025, Fidelity Bank also signed an MoU with SMEDAN, Nigeria’s Small and Medium Enterprises Development Agency, to deliver SME-friendly low-interest financing, capacity-building support, and market access for SMEs referred under the agreement.

“Our vision goes beyond financing. We are building an ecosystem of support for SMEs by offering capacity-building programs, mentorship opportunities, and market access. Women entrepreneurs, in particular, will benefit from a larger share of the fund as part of our broader strategy to promote gender inclusion,”Ede added.

The FGN MSME Intervention Fund will further advance the bank’s commitment to empowering small and medium-sized enterprises by expanding access to affordable financing and strategic support. Through this fund, Fidelity Bank aims to deepen its impact on Nigeria’s MSME ecosystem, fostering sustainable growth, job creation, and economic resilience across the country.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.

Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

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