Banking and Finance
Ecobank Group Set to Announce Top Finalists for the 2024 Fintech Challenge in Lagos, Nigeria
Lagos, August 12, 2024 — Ecobank, the pan-African Bank, has announced that its first-ever Fintech Challenge semifinal event will be held in Lagos, Nigeria. Scheduled for Wednesday, August 14, the hybrid event will take place at the Ecobank Pan African Centre (EPAC) Lagos.
The 2024 “Ecobank Fintech Challenge had over 1,550 applications from 70 countries from which only 40 semi-finalists were shortlisted. After reviewing their applications, a jury has selected the top finalists who will be announced at the semi-final event. They will compete in the Grand Finale for a $50,000 prize and a spot in the Ecobank Fintech Fellowship program which would provide a major boost for their innovations.
Ecobank Fintech Fellows have access to numerous opportunities through collaborations with Ecobank and its partners, potentially including an opportunity to integrate their solutions with Ecobank, opening doors to potential product launches within Ecobank’s expansive 35-country Pan-African network. Selected fintechs may become Pan-African service partners within the Bank’s ecosystem. Fellows receive exclusive access to Ecobank’s cutting-edge APIs, enabling them to test and develop their products for the Pan-African market, and they also have priority access to Ecobank’s Venture Capital partners for funding exploration.
Djiba Diallo, Senior Fintech Advisor, Ecobank Transnational Incorporated (ETI) remarked “I am impressed by the quality of this year’s applications. I recognize the African talents and innovations. I also congratulate the semi-finalists and look forward to an interesting semi-final event in Lagos, Nigeria where we will announce the top finalists.”
Bolaji Lawal, Managing Director/Regional Executive of Ecobank Nigeria said he is glad that Nigerian affiliate was hosting the semi-finals, announcing an inspiring and thought-provoking panel of discussion with the Nigerian fintech community as a prelude to the hybrid event.
According to him, “Hosting this year’s Fintech Challenge semifinal is a great honour for us. We are thrilled to welcome prominent fintech players from across the continent and are particularly proud of the strong participation from Nigerian fintechs. Their efforts contribute to Africa’s financial integration and economic growth. We invite Nigerian fintechs to take advantage of the panel discussions, while also using the opportunity to network and explore partnership opportunities that will support their growth”.
The Ecobank Fintech Challenge, designed in partnership with international advisory firm Konfidants, is supported by a range of partners including Huawei, Proparco, TechCabal, BlueSpace, Afrilabs, Africa Fintech Network, MEST Africa, Naija Startups, Expand in Africa, and Founders Africa.
Banking and Finance
Fidelity Bank Improves Access to Quality Education in Anambra
L-R: Chairman, Anambra State Universal Basic Education Board (ASUBEB), Dr Vera Nwadinobi; Anambra State Commissioner for Education, Prof Ngozi Chuma-Udeh; and Regional Bank Head, Fidelity Bank Plc, Awka, Dr. Nosa Orumwense; at the handover ceremony of the administrative block renovated by Fidelity Bank Plc to Community Secondary School, Enugwuabo Ufuma, Orumba North Local Government Area, Anambra State recently.
Leading financial institution, Fidelity Bank Plc has reaffirmed its commitment to advancing quality education and youth empowerment with the renovation of an administrative building to Community Secondary School, Enugwuabo Ufuma, in Orumba North Local Government Area of Anambra State.
The one-storey administrative block was comprehensively renovated as part of Fidelity Bank’s interventions to address infrastructural challenges faced by the school. The renovated facility was then formally handed over to the school community at a ceremony attended by government officials, community leaders, and other stakeholders.
Speaking at the official handover ceremony, the Regional Bank Head, Fidelity Bank Plc Awka, Dr. Nosa Orumwense, said the project underscores the bank’s long-standing commitment to investing in education as a catalyst for sustainable development.
“For us at Fidelity Bank, this project represents more than a building. It represents opportunity, progress, and a shared commitment to building a better future for our youths here in Enugwuabo Ufuma and beyond.
By improving the educational infrastructure of this community, we are providing students and teachers with an environment that promotes learning, discipline, and pride”, Orumwense added.
Also speaking at the event, the Commissioner for Education, Professor Ngozi Chuma-Udeh, who represented the Governor of Anambra State, Professor Chukwuma Soludo, described the project as a true demonstration of corporate social responsibility.
“Corporate social responsibility is what gives an organisation its human nature. What Fidelity Bank has done reflects compassion and a genuine commitment to touching lives”, Prof. Chuma-Udeh said.
This school was earlier placed on an emergency list due to the deplorable condition of its buildings. During my last visit, I was genuinely concerned about the safety of both students and teachers. Today, the school wears a new look, thanks to Fidelity Bank’s support”.
The Commissioner also expressed the state government’s appreciation to Fidelity Bank, saying, “We thank Fidelity Bank for this intervention, which clearly demonstrates the true meaning of corporate social responsibility – making tangible impacts that improve lives and strengthen communities”.
The project forms part of Fidelity Bank’s broader CSR strategy focused on empowering communities, strengthening educational institutions, and creating long-term socio-economic value across Nigeria.
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 a 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.
Banking and Finance
Polaris Bank Strengthens MSMEs Export Ecosystem at NAHCO/NACCIMA Export Group Programme
Polaris Bank has reaffirmed its strategic commitment to strengthening Nigeria’s non-oil export ecosystem and empowering micro, small and medium-sized enterprises (MSMEs) at the NAHCO and NACCIMA Export Group Programme themed *Breaking Barriers: Helping SMEs Navigate Export Procedures for Agro Products and Other Commodities.”
The one-day engagement brought together regulators, industry stakeholders, exporters and trade bodies to advance practical solutions for easing trade barriers, improving access to finance and building a more resilient and diversified Nigerian economy.
The programme also marked the formal introduction and launch of the NACCIMA Export Group and the NAHCO Export Support Centre for MSMEs in Nigeria, creating a structured platform for exporters to access trade facilitation services, logistics support, regulatory guidance and financial solutions across the export value chain.
Speaking at the programme, Polaris Bank’s Executive Director, Chris Ofikulu, underscored the national importance of export diversification and the central role of SMEs in building a resilient economy. He noted that reducing Nigeria’s dependence on oil revenues requires coordinated action across the public and private sectors to strengthen non-oil exports, particularly within agro-exports and commodity trade.
“Expanding non-oil exports is not optional; it is a strategic imperative for building a resilient, inclusive and competitive Nigerian economy. SMEs, particularly in agro-exports and commodity trade, hold the key to unlocking our true comparative advantage. Polaris Bank remains committed to providing the finance, advisory support and partnerships required to help them scale confidently and compete globally,” Ofikulu said.
The engagement also focused on addressing structural challenges confronting exporters, including infrastructure gaps, port inefficiencies, logistics constraints, standards and certification requirements, and policy consistency.
Participants emphasized the need for stronger public-private collaboration among government agencies, trade bodies, financial institutions and logistics partners to simplify export procedures and improve market access for Nigerian SMEs.
Also addressing stakeholders, Olaleye Arinola, Team Lead, Trade Services, Polaris Bank, highlighted the importance of removing trade and payment bottlenecks that limit exporter competitiveness and cash flow. He emphasized the Bank’s focus on building confidence and certainty into the export process through practical financial and advisory support.
“Exports cannot grow if finance and payments remain obstacles. At Polaris Bank, our focus is on removing friction from international trade by ensuring SMEs get paid faster, safer and with greater certainty through efficient trade finance, secure cross-border payments and hands-on guidance across documentation, FX and compliance,” Arinola said.
As part of its partnership with the business and trade community, Polaris Bank unveiled a Dedicated Help Desk for NACCIMA members, designed to provide direct access to trade finance and payment support, fast-track resolution of export-related enquiries, and personalized advisory services on FX documentation and regulatory compliance.
Polaris Bank reaffirmed its commitment to working closely with NAHCO, NACCIMA and other stakeholders to strengthen exporter capacity, promote value addition across agro-exports and commodities, and unlock sustainable growth opportunities for Nigerian businesses in regional and global markets.
As Nigeria advances its economic diversification agenda, Polaris Bank remains positioned as a trusted partner for SME exporters, providing the finance, knowledge and institutional support required to compete globally and contribute meaningfully to national development and long-term economic resilience.
Banking and Finance
Fidelity Bank Elevates Learning & Hygiene Standards for Makoko Schoolchildren
Photo caption : L-R: Regional Bank Head, Mainland 1, Fidelity Bank Plc, Mr Chukwudi Egbuna; Minister in Charge, Methodist Church, Makoko, Very Revd. Ayodele Aromavo; and Divisional Head, Remedial and Operational Risks Management, Fidelity Bank Plc, Dr. Damian Orizu at the Fidelity Helping Hands Programme (FHHP) Risk Management Directorate-led Back-to-School outreach to pupils in Makoko, Lagos recently.
Leading financial institution, Fidelity Bank Plc has reinforced its commitment to community development and youth empowerment with the donation of educational and hygiene materials to pupils of Wesley Nursery and Primary School in the Makoko Waterfront Community, Lagos, under its Fidelity Helping Hands Programme (FHHP).The FHHP outreach was led by the Bank’s Risk Management Directorate as part of a “Back to School” intervention aimed at improving learning conditions and promoting personal hygiene among children in one of Nigeria’s most underserved waterfront communities. Through the FHHP, staff receive matching financial support from the bank’s management to execute projects identified in response to their communities’ crucial needs.A total of 124 primary school pupils benefitted from the initiative. Items donated included school bags, exercise books, writing materials, towels, soap, toothpaste and toothbrushes, designed to support both academic learning and healthy living.Speaking at the outreach, Divisional Head, Remedial Assets, Fidelity Bank Plc, Dr. Damian Orizu, who represented the Executive Director and Chief Risk Officer, Fidelity Bank, Mr. Kevin Ugwuoke, said the initiative underscores the bank’s belief that its long-term success is closely linked to the wellbeing of the communities in which it operates.“At Fidelity Bank, we strongly believe that our growth and success are closely tied to the wellbeing of the communities where we operate,” Dr. Orizu said. “This outreach is our way of investing in the future of Makoko’s children by supporting their education and promoting good hygiene, which are critical foundations for long-term development.”Orizu further added, “The FHHP reflects the passion and commitment of our employees to make a tangible difference. I commend the Risk Management Directorate for championing this intervention and demonstrating that corporate responsibility starts from within.”The Baale, Adogbo (1) Community, Makoko, Chief Victor Panke, thanked Fidelity Bank for its consistent support, noting the severe financial and transportation challenges faced by children in the area. “This support will go a long way in easing the burden on our children and their families,” Chief Panke said. “Many pupils struggle daily with transportation across the lagoon just to attend school. We are grateful to Fidelity Bank and appeal for continued assistance, especially in the area of boats to help our children access education more safely and easily.”The Makoko outreach is the Bank’s third intervention in the community within the last two months. Through the Fidelity Helping Hands Programme, Fidelity Bank continues to demonstrate its commitment to education, hygiene and sustainable community development, with a special focus on vulnerable communities such as Makoko.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 a 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.
