Tag: Heritage Bank

Heritage Bank Plc will be giving $25, 000 grant to winners in its innovation accelerator programme tagged, “HB LAB”.

The maiden edition of HB LAB is a 12-week programme,   expected  to provide technology startups with enabling environment, resources and support required to innovate and accelerate impactful solutions.

It said it would  radically improve financial Inclusion/Intermediation, in agriculture and other related problems affecting critical sectors of the economy.

About 154 applicants who applied were reviewed and 24 of them scored above 60, whilsts the final selection will produce seven successful applicants, which the winner will emerge.

Speaking on the HB LAB, the Managing Director/CEO, Ifie Sekibo said in Nigeria, technology start-ups still account for a relatively small share of all businesses, adding that they have an outsized impact on economic growth, because they provide better-paying, longer-lasting jobs than other start-ups, and they contribute more to innovation, productivity, and competitiveness.

He said the team with the most compelling solution will be awarded a $25,000 grant alongside access to workspace and IT infrastructure for solution testing and development for a defined period.

According to him, the HB Innovation Lab Programme is open to product development teams and technology driven startups across Nigeria.

Sekibo stated that the critical areas of focus are Fintech, agriculture, education, digital, security and power, whilst noting that the application requirements include names, age, gender, contact number, home and email addresses of the participants.

The Heritage Bank’s revolutionary advanced intelligent digital experience, known as Octopus has been endorsed by the 2018 Big Brother Double Wahala (season-3) housemates. The endorsement was for its ground breaking innovative solution, crafted to meet the demands of an ever-growing active population with the aim to create and transfer wealth to stakeholders.

Four of the 20 contestants, who were engaged with a task that served to launch the bank’s product and have continued to use advanced intelligent digital experience to grow their businesses unanimously attested that Octopus was the new green; way to engage markets, shop bank, making payment of goods and services very seamlessly.

Meanwhile, they also commended Heritage Bank for its strategic growth to meet customers’ needs and revolutionalise the banking sector with the upward review of daily transaction limits for Octopus transactions to N200, 000 for Heritage Bank registered users.

The four housemates- Leo Dasilva (Leo), Uloma Iheme (Ifu Ennada), Tobi Bakre and Omololu Shomuyiwa (Lolu), who visited the bank’s head office in Lagos, yesterday, met with senior management of the institution.

Octopus by Heritage Bank represents an omnichannel multi-platform experience squarely targeted at the customers of tomorrow; young, smart, professional, tech-savvy pioneers of the new digital economy. Bank agnostic, Octopus will provide all customers of any Nigerian Bank the opportunity to access a platform that consolidates and connects all their Bank accounts delivering convenience and ease of access to an innovative platform and digital community.

The platform owes numerous benefits to the users, thereby enable small businesses to key into electronic payment system easily, efficient collections, social integration, retention strategy, bills payment, mobile virtual top-up, funds transfer, balance enquiry, movie show time, news.

To give a voice to this, Sekibo described Octopus as “the best opportunity to experience a true, out-of-this world digital experience available across major platforms. Understand that this new adventure does everything differently!”

According to him, the platform is an intelligent digital experience that combines digital transactions and a community lifestyle that empowers customers with the power to build their world and perform digital transactions how they want.

Sekibo who was represented by Ike Williams, Directorate Head, Service Bank/Chief Information Officer, however, remarked that the bank was committed to deploying its resources towards the delivery of innovative banking solutions to its customers as well as create and transfer wealth to all its stakeholders.

Heritage Bank Limited, Nigeria’s most innovative banking service provider, has partnered Vanguard Media to organise the 2019 edition of its economic discourse in a bid to achieve inclusive economic development in the country.

The theme of the discourse is: ‘’Human Capital Index versus Economic Growth, Nigeria’s policy options’’.

The discourse was informed by the recent World Bank Group ranking of Nigeria 152 out of 157 countries on its first-ever Human Capital Index. Also, the Brookings Institution said Nigeria had overtaken India as the nation with the highest number of extremely poor people. The report showed that about 87 million Nigerians are in extreme poverty, with six Nigerians falling into extreme poverty every minute.

Data from National Bureau of Statistics, NBS, showed that the number of unemployed Nigerians rose by 3.3 million or 19 per cent to 20.9 million in third quarter of 2018 from 17.6 million in third quarter of 2017.

The discourse was, therefore, organised for economic experts to proffer solutions to the problems confronting the economy such that government would be able  to align the nation’s economic with that of human capital development.

Managing Director/Chief Executive Officer of Heritage Bank, Ifie Sekibo said they decided to partner with the organisers to achieve inclusive growth in the economy.

Sekibo, who was also one of the discussants at the event, noted that there was need to deal with the energy problem confronting the country because it accounted for about 35 percent of overheads of banks.

He also said the minimum wage would increase liquidity and money supply and lead to inflation, a development which will make the Central Bank of Nigeria to mop up the excess money through Open Money Operation (OMO).

Also speaking as a discussant, Director-General of Lagos Chamber of Commerce and Industry (LCCI) Mr Muda Yusuf  said because of inadequate resources available to the Federal Government to adequately fund human capital development vis-à-vis economic development, government should grant complete tax holiday to private operators in the educational and health sectors to enable them to complement the efforts of government.

He observed that there was need to grow investments in a bid to grow revenue.

Also contributing, Doyin Salami, an economist and former member of the Monetary Policy Committee of the CBN, noted that there was need for inclusive government for human capital to grow in tandem with economic development.

He also said there was need to set target like other developed economies such as China and focused on achieving it, remarking that because there is capital deficiency in the economy, there is need to encourage the private sector to invest in the economy.

Earlier in his keynote address, Fola Adeola, former Managing Director/ Chief Executive Officer of Guaranty Trust Bank, had identified 12 giant evils plaguing the Nigerian economy. They include hunger, disease, voidness, illiteracy, corruption, aimlessness, ignorance, visionlessness, lack of direction, crookedness, insecurity as well fear of exploitation.

He said there was need to systematically and comprehensively deal with those evils for the inclusive growth of human capital and economic development.

Heritage Bank Plc, has announced a partnership with Africanmed and the Chinese community in Nigeria aimed at developing the country’s health sector and bringing down the rate of medical tourism by Nigerians.

Managing Director/CEO, Heritage Bank, Ifie Sekibo who disclosed this at the maiden edition Africanmed exhibition of top brands of medical equipment from China in Lagos recently, said there is an urgent need to reduce the huge foreign exchange which Nigerians spend every year on medical tourism.

He explained that Heritage Bank would find it easy to provide finance for interested buyers of the medical equipment from China because it already has a robust correspondent banking relationship with Deutsche Bank of China and Access Bank of China. The relationship, he said, would enable Heritage Bank to seamlessly open letters of credit for interested buyers.

Olugbenga Awe, Group Head, Agric and Export, Heritage Bank, who represented Sekibo, said since some of the equipment cost millions of dollars, the bank would not expect the buyers to tie down such heavy amount of money, adding that the bank will support interested buyers with robust loans that will enable them to acquire the equipment and pay back over a period of two years.

Heritage Bank Plc has partnered with Folio Group, owners of Daily Times, the organisers of the Miss Nigeria beauty pageant to host the 42nd edition of the contest.

Speaking at the grand finale of the contest in Lagos, Fela Ibidapo, Head of Corporate Communications of Heritage Bank said the bank stands with anything that has to do with culture, adding that the bank is at the fore front of ensuring that it promotes and pushes the Nigerian heritage.

Ibidapo, who praised the organisers and the contestants, added that the bank would continue to support the contestants and the winner in their various dreams post the event.

Miss Chidinma Leilani Aaron emerged as the 42nd Miss Nigeria from the South East Zone at the keenly contested beauty pageant at the high brow Eko Hotel in Lagos, beating other 17 contestants that were unveiled at the grand finale.

Miss Aaron is a graduate of Business Administration from Lead City University, Ibadan, Oyo State and is the best graduating student in human resources among her set of enterprise students. She is an entrepreneur, business administrator and a chef and is currently undergoing her National Youth Service at Blencc Solutions Limited, Abuja.

The new Miss Nigeria has worked with top brands in television, fashion, hospitality and food industry as a presenter, model, actress and management staff. She has also served as the pioneer female president of the National Association of Business and Management Students of Lead City University chapter.

Eighteen contestants from the six geo-graphical zones of the country made it to the grand finale from which eliminated six to prune down the number to 12 made up of: Ntan Nton, Egede Lagele, Thomas Mseve, Ameh Munirah, Otunba Ifunaya, and Shitta Remilekun.

Others are Tizhe Usa Miriam, Okudili Odinaka Doris, Agida Stephanie, Ugwu Ijeoma, Aaron Chidinma Leilani, and Dunu Chisom Olivia

This was subsequently later reduced to five by the panel of judges made up of Rita Dominic, Jasmine Tukur, Fade Ogunro, Tatiana Moussalli among others, from which Miss Aaron emerged.

The five finalists were Dunu Chisom, Ntan Sharon Nton, Ameh Munirah, Agida Stephanie and Aaron Chidinma Leilani. Dunu emerged the first runner-up while Ameh was named the second runner-up.

Miss Aaron, the winner of the pageant, took home N3 million from Heritage Bank. She takes over the crown from Mildred Ehiguese who won the 2017 edition.

The maritime sector through Nigerian Port Authority (NPA) is set to get improved infrastructural boost as Heritage Bank Plc revealed plans to provide financing for building critical maritime infrastructures and other aspects of transport sector projects once policies driving the projects are well structured.

The Managing Director/CEO of Heritage Bank, Ifie Sekibo disclosed this as one of the panelists at the day-one of the International Association of Ports and Harbours (IAPH) Africa regional conference, themed, “African Ports & Hinterland Connectivity,” holding in Abuja.

He also stated that banks are willing to provide the necessary financing and support but the operators must be clear on where they are headed.  “The government will need to develop policies that will manage infrastructure programmes and we as bankers will give support. We are sure we can support, and we are sure going to support,” he said.

He added that the banking industry must stake in financing but we must have an understanding on what the industry wants. He said Heritage Bank decided to sponsor and attend the conference to understand the focus of the industry.

Relief is on the way for  over seven million passengers plying Lagos roads on daily basis as Heritage Investment Services Limited (HIS) has signed a memorandum of understanding (MoU) with Tuchi Technologies Nigeria Limited to provide affordable mass transit for commuters in Lagos metropolis. Heritage Bank Plc is the banker to the project.

Besides HIS and Tuchi, other parties to the MoU are Solola & Akpana legal advisers; Kedari Capital financial advisers and Hedgestone Capital Partners Limited, one of the prospective investors in the project.

The affordable mass transit allows passengers to make an e-hailing in order to book for the Lagos State coloured buses in the Lagos metropolis within the state.

In a statement by the Divisional Head, Corporate Communications of the bank, Fela Ibidapo, Heritage bank was focused on achieving its primary role of financial intermediation through intervention in the transportation sector, which will create jobs and bring about economic growth for the state.

According to him, this is a milestone achievement for the bank in supporting the commuting experience; challenges inherent in the sector and social well-being of more than seven million of Lagos residents who rely on public transport daily.

Speaking at the signing ceremony in Lagos last week, Mr. Olusegun Akanji, a director of HIS, said the company is an investment vehicle committed to impact investing to support small and medium scale enterprises (SMEs) in a bid to create new set of businesses that are technologically-oriented.