E-Financial
Polaris Bank and Amtis Skills Place Partner to Empower Young Designers
In its determination to produce the next generation of young designers who will go on to capture the imagination of the world in fashion, Polaris Bank partnered, with Amtis Skills Place, a body dedicated to producing contemporary vocational skills to young Nigerians to identify, train and mentor young designers through the 2024 Amtis Fashion Competition.
Since its inception in 2015, Amtis Skills Place has been committed to equipping young Nigerians with vocational skills, bridging the gap between traditional education and the evolving job market.
This year’s event, proudly sponsored by Polaris Bank brought together emerging designers aged 18 to 35 gathered to design garments inspired by vintage styles.
Teams include; fashion designers, makeup artists, and models working collaboratively.
Participants were judged on creativity, craftsmanship, teamwork, and adherence to the vintage theme, celebrating classic fashion eras; while empowering the next generation of entrepreneurs.
The competition, organized by Amtis Skills Place, culminated in an awards ceremony where three finalists emerged as winners. Wuraola Robert clinched the top prize of ₦500,000, while the second and third-place winners were awarded ₦300,000 and ₦200,000, respectively.
In an address to the participants delivered on behalf of Polaris Bank’s Managing Director/CEO, Kayode Lawal remarked: “Polaris Bank ensures that you achieve your dreams in the right perspective, which is why we partnered with Amtis Vintage Fashion.
“We can assure you that there will be bigger things in the coming year: a more expanded event, more content, more giveaways, and greater empowerment for the business sector.”
Omotunde Adebusola, Managing Director of Amtis Skills Place, commended Polaris Bank for their pivotal role in supporting entrepreneurship in the country especially, the competition saying: “We are deeply grateful to Polaris Bank for believing in our vision to nurture young talents. Their partnership made this year’s event a resounding success, and we look forward to even greater collaborations in the future.”
The overall winner, Wuraola Robert, expressed her gratitude after receiving the grand prize saying: “I am overwhelmed with joy and gratitude to Polaris Bank for this incredible opportunity.
“This competition has transformed my career, and I’m excited to invest this prize into growing my brand.”
The Amtis Vintage Fashion Competition exemplifies the mission of Polaris Bank and Amtis Skills Place by empowering participants to translate their creativity into viable careers.
Polaris Bank was adjudged Nigeria’s Best Bank for MSMEs of the Year in Business Day’s Banks and Other Financial Institutions (BAFI) Awards & Nigeria’s Best Bank in MSME Lending in the maiden MSME Awards organized by Nairametrics & The Economic Forum.
E-Financial
PalmPay Reaffirms Commitment to Combating Financial Fraud
PalmPay, a leading fintech company in Nigeria, has reiterated its commitment to combating financial fraud through cutting-edge technology. This was emphasized during a high-level courtesy visit by the company’s Managing Director and management team to the Nigerian Financial Intelligence Unit (NFIU).
Addressing the growing prevalence of fraud in the country, Chika Nwosu, Managing Director of PalmPay Limited, stressed the need for robust collaboration between fintech companies and government agencies. “At PalmPay, we believe that a secure financial ecosystem is the foundation for a thriving digital economy,” he stated.
“Our partnership with the NFIU underscores our dedication to supporting Nigeria’s anti-fraud and anti-money laundering (AML) efforts. Together, we aim to ensure a safer digital experience for all Nigerians.”
Chika also highlighted the significant rise in electronic payment transactions across Nigeria’s financial system, underscoring the importance of proactive measures to address emerging threats.
PalmPay reaffirmed its support for the NFIU’s mission to safeguard the country’s financial infrastructure. The company outlined plans for close collaboration with the agency, including knowledge-sharing initiatives, stakeholder training programs, and the development of innovative solutions to combat fraud in the digital space.
Hafsat Abubakar Bakari, Chief Executive Officer of the NFIU, commended PalmPay for its proactive approach to financial security and its commitment to aligning with national and international regulatory frameworks. She emphasized the importance of continuous collaboration between private sector players and government institutions in the fight against financial crimes.
PalmPay’s visit to the NFIU reflects its vision of contributing to a secure, transparent, and inclusive financial ecosystem in Nigeria. As a fintech leader, PalmPay remains steadfast in its mission to create a digital economy where trust and security drive growth and innovation.
E-Financial
AfDB, Italian Insurance Group Sign $6bn Deal to Foster Investment in Africa
In a bid to provide credit protection to foster investment in Africa under the “Mattei Plan”, SACE, an Italian insurance-financial group and the African Development Bank Group (AfDB) have signed a $6bn deal.
The collaboration between SACE and AfDB is to sustain the development of initiatives with Africa’s public and private sectors, with additional opportunities for Italian businesses in education, agribusiness, healthcare, energy, water and infrastructure.
The signing took place during the African Investment Forum (AIF) 2024 Market Days currently underway in Rabat, Morocco. The AIF is a platform that helps develop bankable projects, secures funding, and facilitates deal closures. Its goal is to mobilize capital for key sectors, supporting the UN’s Sustainable Development Goals and Africa’s development agendas.
The collaboration agreement was signed by Michal Ron, chief international business officer of SACE responsible for the Overseas Network, and Hassatou N’Sele, AfDB’s vice president for finance and chief financial officer.
“The $6 billion Mattei plan to bolster economic links and create an energy hub for Europe, while curbing African emigration to Europe, was unveiled by Italian Prime Minister Georgia Meloni in February this year. The Italian Government and the African Development Bank Group have planned a series of joint initiatives to support the implementation of the Mattei Plan.”
This initiative establishes synergies between SACE’s products, such as the Push Strategy as an untied export credit product, traditional export credit insurance, and the financial products offered by the African Development Bank Group.
It will support the financing of high-impact projects in Africa while jointly generating opportunities for business matching between African and Italian companies.
The initiative brings together SACE’s products, including untied export credits, traditional export credit insurance, and financial solutions from the AfDB. The collaboration aims to finance high-impact projects in Africa while fostering business partnerships between African and Italian companies.
“Africa represents a market of great potential for our companies, and our collaboration under the “Mattei Plan” will strengthen their positioning in key sectors for the continent’s development, in line with the purpose of the Mattei Plan,” said Ron.
“In particular, we are already identifying new business opportunities where SACE can make a difference thanks to the Push Strategy, a financial instrument that, through guarantees, connects African buyers with Italian SMEs, involving them in strategic projects related to infrastructure, agribusiness, healthcare, energy, and education: priority sectors where Made in Italy, with SACE’s support, can offer a significant contribution.”
The collaboration also looks to expand commercial relations between Italy and Africa, encouraging the business of Italian companies interested in operating on the continent in priority sectors of the Mattei Plan: education and training, agriculture/agro-industry, healthcare, energy, water, infrastructure, including digital economy infrastructure.
E-Financial
EBRD, AfDB Group to Strengthen Collaboration in Support of SMEs in Africa
The European Bank for Reconstruction and Development (EBRD) and the African Development Bank Group are strengthening their strategic partnership to support small and medium-sized enterprises (SMEs) in Sub-Saharan Africa.
Building on successful past collaborations, including in North Africa, the two banks aim to jointly provide, in the coming months, tailored financing solutions and business advisory support to high-potential SMEs across the region. This integrated approach seeks to accelerate the growth of these SMEs to broaden their positive impact on local and regional economies.
Despite being the backbone of African economies and driving innovation, job creation, and sustainable development, SMEs face considerable challenges to growth, including, among others, limited access to financing opportunities and know-how.
By equipping promising SMEs with the necessary tools and resources to meet these challenges, this partnership will foster their further development and wider economic resilience.
Leveraging the African Development Bank’s in-depth on-the-ground expertise and the European Bank for Reconstruction and Development’s extensive experience working directly with SMEs, this collaboration represents a powerful framework for supporting African businesses and fostering the growth of the continent’s private sector.
By combining resources and expertise, the AfDB and EBRD are committed to creating a robust ecosystem that will attract additional investment and enable long-term sustainable economic progress across Sub-Saharan Africa.
This partnership aligns with the African Development Bank’s High 5 priorities and the EBRD’s mission of promoting private and entrepreneurial initiative. Together, the two institutions aim to position African SMEs as key drivers of economic transformation and resilience.
- E-Business2 days ago
Report Reveals Most Organisations Fear AI-driven Cyberattacks but Lack Key Defences
- News2 days ago
Oyedele: Majority of Nigerians Approve Tinubu’s Tax Reform Bills
- News2 days ago
IFC Invests in IHS Holding Bond to Support Digital Connectivity in Emerging Markets
- Telecom2 days ago
NITDA Commends Google, X, Microsoft, and TikTok for Compliance
- E-Business2 days ago
Dr. Krishnan Bags Icon of Innovation and Digital Transformation in Africa @ CIO Awards
- Telecom2 days ago
Galaxy Backbone CEO Advocates for Sustainable Digital Infrastructure in Africa
- News2 days ago
ALX Startup Accelerator Hosts Transformative Pitch Session, Showcasing Groundbreaking Innovations
- News1 day ago
Ecobank Sends Important Message to Customers Over Service Disruptions