Lagos, Nigeria – May 2026 – Quest Merchant Bank Limited has strengthened its market position following GCR Ratings’ affirmation of the Bank’s national scale issuer ratings of BBB(NG) and A3(NG), alongside an outlook revision to Stable from Rating Watch Negative. The ratings action marks a significant milestone for Quest Merchant Bank following a transformative period for the institution, reflecting renewed confidence in the Bank’s financial strength, market positioning, liquidity profile and future growth trajectory.According to GCR, the revised Stable Outlook is anchored on Quest Merchant Bank’s sound risk profile, improved capitalization and strong liquidity, alongside the successful transition of the Bank’s ownership structure following its acquisition by EverQuest LLP after the divestment by FBN Holdings.The rating agency also highlighted the Bank’s strong presence within Nigeria’s merchant banking sector, where Quest Merchant Bank accounted for c.30% of the sub-sector’s total assets as of 31 December 2025, reinforcing its position as one of the country’s leading merchant banking institutions.Further strengthening the Bank’s outlook was the successful completion of its ₦42.9 billion capital raise in March 2026 in line with the Central Bank of Nigeria’s revised minimum capital requirements. GCR noted that the capital injection is expected to further enhance the Bank’s capital adequacy position and support the next phase of business growth.Quest Merchant Bank’s asset quality and liquidity profile also remained key strengths underpinning the ratings affirmation. The Bank maintained a NPL ratio of 3.2%, significantly below the broader banking industry average, while continuing to sustain strong liquidity metrics and resilient earnings performance.GCR additionally recognised the strategic value of the Bank’s relationship with Custodian Investment Plc, noting the potential for expanded business opportunities, operational synergies and stronger profitability over time.Commenting on the development, Afolabi Olorode, Ag. Managing Director/CEO, Quest Merchant Bank Limited, said:“This outlook revision is a strong signal of confidence in the future of Quest Merchant Bank and the progress we have made in strengthening our organization over the last year.“Beyond the ratings action itself, this recognition reflects the resilience of our business, the quality of our balance sheet, and the confidence our clients, partners and stakeholders continue to place in the Bank.“We have emerged from a defining transition period stronger, well-capitalized and better positioned to capture the opportunities ahead. We remain committed to delivering innovative solutions, creating long-term value and supporting economic growth across the sectors we serve.”The Stable Outlook reflects GCR’s expectation that Quest Merchant Bank will continue to maintain sound asset quality, stable funding and strong liquidity metrics over the next 12 to 18 months, further reinforcing confidence in the Bank’s long-term strategic direction and operating fundamentals.

Increased services are set to begin from 16 June 2026, strengthening the airline’s network in the regionAirline to launch three weekly lights to Port Sudan from 2 July 2026DOHA, Qatar – Qatar Airways is expanding its African network, with light resumptions and frequency increases launching from 16 June 2026. Boosting connectivity across Africa, the airline will restart four weekly lights to Seychelles (SEZ) and two weekly lights to Kigali (KGL) from 16 June, and daily light to Marrakesh (RAK) from 1 July. Qatar Airways is set to enhance convenient travel options by serving the following destinations with increased lights: Alexandria (HBE) – increased three weekly lights to up to sevenCairo (CAI) – increased from 28 weekly lights to up to 35Cape Town (CPT) – increased from seven weekly lights to up to 10Dar es Salaam (DAR) – increased from three weekly lights to up to sevenLusaka (LUN)-Harare (HRE) – increased from five to seven weekly lightsMaputo (MPM)-Durban (DUR) – increased from four weekly flights to up to seven Qatar Airways flights to Port Sudan (PZU) Additionally, the airline is launching three weekly flights to Port Sudan, Sudan from 2July. Passengers travelling to Port Sudan from key markets in the Middle East andSoutheast Asia, such as Oman and Pakistan, can make seamless transfers through Hamad International Airport. The move reinforces the airline’s commitment to global connectivity while balancing sustainable growth with increasing demand for convenient air travel connectivity and trade. Departing every Tuesday, Thursday, and Saturday: Doha (DOH) to Port Sudan (PZU) – Flight QR1319: Departure 09:00; Arrival 11:00Port Sudan (PZU) to Doha (DOH) – Flight QR1320: Departure 12:25; Arrival 16:20 Qatar Airways is furthering global connectivity by rebuilding its network to over 160 destinations worldwide. Bookings can be made at qatarairways.com or through the airline’s mobile app.About Qatar AirwaysA multiple award-winning airline, Qatar Airways won the ‘World’s Best Airline’ title for an unprecedented ninth time at the 2025 World Airline Awards, managed by the international air transport rating organisation, Skytrax. Qatar Airways was previously named the World’s Best Airline in 2011, 2012, 2015, 2017, 2019, 2021, 2022, and 2024.The airline continues to be synonymous with excellence, and has yet again received recognition for ‘World’s Best Business Class’, and ‘World’s Best Business Class Airline Lounge’. As the leading connector in the region, Qatar Airways has also been lauded with the ‘Best Airline in the Middle East’ title for the 13th time.Qatar Airways recently received the Platinum performance recognition by Cirium, the leading aviation analytics organisation, for its reliability and operational performance. The recognition is a testament to the airline’s unwavering commitment to providing seamless and proven operations as part of its award-winning passenger experience.This summer, Qatar Airways will ly to over 160 destinations worldwide, connecting through its Doha hub, Hamad International Airport. The airport has been recognised as the ‘Best Airport in the Middle East’ for 11 consecutive years, as well as ‘World’s Best Airport Shopping’ for the third year in a row by Skytrax. Hamad International Airport has previously been named the ‘World’s Best Airport’ by Skytrax in 2021, 2022, and 2024.Qatar Airways was the first airline in the Middle East to be certified to the highest level of IATA’s Environmental Assessment (IEnvA) programme, based on recognised environmental management system principles (such as ISO 14001). As an inaugural signatory to the Buckingham Palace Declaration in March 2016, Qatar Airways became the first airline globally to be certified to the industry standard for the prevention of illegal wildlife trafficking in aviation.

Interswitch, one of Africa’s leading integrated payments and digital commerce companies, has announced the induction of the third and largest cohort of developer interns into its Developer Academy, reinforcing its long-standing commitment to building world-class technology talent and strengthening Africa’s digital ecosystem. Selected from a pool of over 20,000 applications, the new cohort emerged through a rigorous multi-stage process involving technical assessments, and interviews. Their induction into the Developer Academy highlights both the scale of interest in software engineering opportunities in Nigeria and Interswitch’s role in nurturing the next generation of highly skilled technology professionals. The 9-month programme brings together talents across key engineering tracks, including Backend Development, DevOps, Mobile Development, Frontend Engineering, and Quality Assurance. Designed as an intensive and structured learning experience, the Developer Academy combines theoretical instruction with real-world application, equipping participants with the skills required to thrive in an increasingly global and competitive technology landscape. Commenting on the initiative, Mitchell Elegbe, Founder and Group Chief Executive Officer, Interswitch, emphasised the importance of taking a long-term, ecosystem-driven approach to talent development.“At Interswitch, we have always believed in the capacity to see beyond the immediate challenges and focus on long-term impact. While the migration of skilled talent remains a reality, our approach is to actively shape the outcomes by building a strong and sustainable pipeline of technology professionals. We are therefore committed to equipping individuals with the capabilities to contribute meaningfully to the broader technology ecosystem, locally and globally, not just for our own needs at Interswitch. In doing so, we are not only strengthening the industry but also reinforcing Nigeria’s position as a source of globally competitive engineering talent,” Elegbe said. Beyond its immediate training objectives, the Interswitch’s Developer Academy is anchored on a broader strategic vision, one that addresses the ongoing migration of skilled talent from Nigeria and other developing economies. As global demand for software engineers continues to rise, many highly skilled professionals are increasingly recruited by international organisations. Interswitch’s approach reframes this trend, positioning talent development both as a means of local capacity building and as an opportunity to strengthen Nigeria’s reputation as a global hub for technology expertise. Also commenting, Franklin Ali, Group Chief Human Resources Officer, Interswitch, highlighted the broader impact of the programme. He stated:“The Developer Academy reflects our long-term commitment to building talent at scale. We are equipping these young professionals not just with technical skills, but with the mindset, discipline, and adaptability required to thrive in diverse environments. Whether they build their careers within Interswitch, contribute to the local ecosystem, or explore global opportunities, they represent the strength and potential of Nigerian talent and carry forward the standard of excellence we are committed to building.” Drawing parallels with the evolution of Nigeria’s entertainment industry, where local talent has successfully achieved global recognition, Interswitch envisions a similar trajectory for the technology sector, one in which Nigerian developers are not only participants in the global digital economy but key contributors shaping its future. The Developer Academy also plays a critical role in addressing local industry needs. As fintechs, banks, and startups continue to scale, the demand for highly skilled engineers remains significant. By consistently developing and releasing new cohorts of trained professionals into the ecosystem, Interswitch is contributing to a more resilient talent pipeline and supporting sustained innovation across the sector. During the 9-month programme, participants will benefit from mentorship by experienced professionals, exposure to enterprise-grade systems, and the development of workplace readiness skills essential for today’s dynamic work environment. At the end of the programme, top-performing interns may be offered full-time roles within Interswitch, while others are well-positioned to pursue opportunities across the broader technology landscape. Further demonstrating its commitment to talent development at scale, Interswitch has also invested in dedicated learning infrastructure, including the opening of a new facility in Victoria Island, Lagos, designed to serve as a specialised hub for the Developer Academy and other training initiatives. This move signals a deliberate effort to institutionalise talent development and expand capacity for future cohorts. The continued expansion of the Developer Academy reflects Interswitch’s long-term vision of building a sustainable pipeline of globally competitive talent, positioning Nigeria, and Africa at large, as a leading source of innovation and technical expertise in the global digital economy.