Business
Access Bank Partners British International Investment to Extend US$60m Trade Finance Facility Across Five African Countries
British International Investment (BII), the UK’s Development Finance Institution (DFI) and impact investor, has announced a $60 million trade finance facility for Access Bank Plc in Nigeria and five of its pan-African subsidiaries. This will strengthen import and export capabilities amongst local businesses and plug the foreign currency supply gap. The programme supports Access Bank’s strategy to enable continental trade and deepens BII’s commitment to bolstering financing environments in fragile economies. BII estimates the loan programme will stimulate African trade volumes by US$90 million.
The agreement reinforces BII’s ongoing relationship with Nigeria’s largest commercial bank by assets and facilitates the provision of systemic liquidity during a period characterised by a challenging macroeconomic environment. Higher inflation and rising cost of capital have placed downward pressure on currency performance, both domestically and in the programme’s target markets of the Democratic Republic of Congo, Mozambique, Rwanda, Sierra Leone, and Zambia. Intervention at this critical juncture underlines the key role of BII, and development finance institutions in general, in extending countercyclical support to build economic resilience.
Between 80% and 90% of world trade is estimated to rely on the availability of trade credit, according to the World Trade Organization. Prior to the COVID-19 pandemic, that financing gap stood at US$82 billion in Africa, and it is increasing. Recognising the positive ripple effects of robust trade flows on economies and livelihoods, Access Bank is aiming to provide 15% of trade finance across Africa, by growing the trade books of its subsidiaries.
Currency instability in Nigeria can hinder the wider proliferation of dollar denominated trade loans across African markets, constraining countries’ ability to capitalise on opportunities opening up under the African Continental Free Trade Agreement. By specifically targeting import dependent economies – many of which will mark the first engagement with BII’s Trade programme – the improved availability of US dollar denominated trade loans will ensure availability of key commodities and manufacturing inputs for the production and export of goods. The key outcome will be improving livelihoods and preserving jobs for the employees of importers and exporters with limited access to foreign exchange trade loans.
With the loans channelled into companies in construction, manufacturing and FMCG, the programme will directly contribute to the UN Sustainable Development Goals 8 (Decent work and economic growth) and 9 (Industry, innovation and infrastructure).
Simultaneously, the facility will improve inclusion. Qualifying under the 2X Challenge, aimed at strengthening female participation and leadership in business, Access Bank will ensure the allocation of loans is designed deliberately to advance its gender commitments. In addition, the facility will contribute to BII’s BOLD programme, dedicated to enhancing the availability of finance at more affordable rates to Black, African-owned businesses.
Seyi Kumapayi, Executive Director, African Subsidiaries at Access Bank, remarked: “Access Bank is on a purposeful mission to scale intra-African trade and position the continent as a viable market for global trade. Hence, we are thrilled about the tremendous potential that this trade finance facility with the BII affords us across our pan-African subsidiaries. This strategic collaboration not only strengthens our import and export capabilities but also expands our resources to support local industries – especially women-owned businesses – and ultimately drive economic growth. By stimulating trade volumes, we will be playing a key role in fostering long-term economic resilience for the continent, while increasing its attractiveness for increased foreign investments.”
Admir Imami, Director and Head of Trade and Supply Chain Finance at BII, noted: “Access Bank is a long-standing partner of BII’s and our new partnership is a significant step closer to narrowing the trade finance gap in Africa, particularly in countries such as the DRC and Rwanda.
Access to finance in fragile states is hugely constrained, often these countries are buffeted by macroeconomic events far beyond their control. BII and Access Bank share a conviction that building the resilience of these businesses by ensuring affordable access to foreign exchange is vital to keep intra-African trade moving and support the growth of inclusive economies.”
Benson Adenuga, Head of Office & Coverage Director for Nigeria, BII said: “Our latest commitment to Access Bank reiterates our assurance to this leading multinational institution and to Nigeria. It comes at a time when Nigeria’s fragile economic situation needs additional funding, particularly from counter cyclical investors like development finance institutions. Our funding will help bolster the economy and ensure the availability of staple goods, medicines and food across Africa.”
One month after launching Season 5 of its flagship 5 for 5 Rewards campaign, Wema Bank has rewarded 273 customers with a total of ₦17.96 million, demonstrating the strong early impact of its refreshed customer rewards platform and reinforcing its commitment to rewarding everyday banking.
Launched on May 2, 2026, as part of the Bank’s 81st anniversary celebration, this season of the campaign introduced a more structured and inclusive rewards framework designed to encourage positive financial habits while recognising customer loyalty across the Youth, Women and Mass Market segments.
The season opened with a special anniversary activation at Ikeja City Mall, where 81 customers received ₦81,000 each, resulting in ₦6.56 million in rewards on launch day. Since then, the campaign has continued to reward customers through daily and monthly draws, with an additional 192 winners emerging within the first month.
Across the Youth segment, 37 students have received rewards worth ₦4.4 million, including 20 students who received ₦50,000 PocketMoni rewards and 17 university students who received ₦200,000 each in Tuition Support.
The Women segment also recorded strong participation, with 12 customers receiving ₦150,000 each through the #SelfCare category, while the Mass Market segment recorded the highest number of winners. Within the first month, 120 customers received daily cash rewards, and 23 customers won ₦200,000 each in the monthly draw, bringing total rewards in the category to ₦5.2 million.
Commenting on the campaign’s early impact, Wema Bank’s Managing Director and Chief Executive Officer, Moruf Oseni, said; “At Wema Bank, we believe loyalty should be rewarded in ways that are meaningful, transparent and accessible. The response to Season 5 of the 5 for 5 Rewards campaign has been encouraging, and seeing hundreds of customers benefit within just one month reinforces our belief that everyday banking should create everyday opportunities.
Beyond rewarding transactions, we are encouraging positive financial habits while delivering real value to our customers. He added; “This is only the beginning. With more reward categories, more winners and more opportunities still ahead, we remain committed to creating meaningful impact for our customers and ensuring more Nigerians experience the value of banking with Wema.”
Customers can participate by opening or reactivating a Wema Bank account, funding it with a minimum of ₦5,000, maintaining an average monthly balance of ₦5,000, and completing at least five transactions every month using the ALAT app, Wema or ALAT cards, or *945#.
With over ₦170 million earmarked for rewards between May and December 2026, thousands more customers are expected to benefit as the campaign continues, reaffirming Wema Bank’s commitment to rewarding loyalty, promoting positive financial behaviour and delivering value beyond banking.
In commemoration of World Environment Day 2026, the UBA Foundation, the Corporate Social Responsibility arm of United Bank for Africa (UBA) Group, has reinforced its commitment to environmental sustainability through a tree-planting exercise at two of Lagos’ most historic educational institutions – King’s College, Lagos, and CMS Grammar School, Bariga.
The exercise marks the commencement of the Foundation’s 2026 Tree Planting for Sustainability Initiative, which is being implemented across selected schools in Nigeria to promote environmental consciousness among young people and encourage climate-positive action.
Observed annually on June 5 and coordinated by the United Nations, World Environment Day is the world’s leading platform for environmental awareness and advocacy. The 2026 theme, “Inspired by Nature. For Climate. For Our Future,” underscores the urgent need for collective action to address climate change and environmental degradation.
Speaking during the exercise at CMS Grammar School, Managing Director/CEO, UBA Foundation, Bola Atta, described the initiative as a strategic investment in the future.
“We want young people to understand that the environment needs our collective support and protection. Through initiatives like this, we are encouraging the next generation to embrace sustainable practices that will help create healthier communities and a better future for all,” she said.
Now in its fourth year, the Tree Planting for Sustainability Initiative is designed to instill environmental responsibility in students by integrating sustainability practices into school communities and empowering young people to become environmental ambassadors.
Atta explained that the choice of King’s College and CMS Grammar School was deliberate, reflecting both institutions’ rich heritage and their capacity to sustain the initiative over time.
“These are iconic institutions with deep historical significance. CMS Grammar School is Nigeria’s oldest secondary school, while King’s College has been shaping leaders for more than a century. We wanted schools where these trees will be nurtured and allowed to flourish for generations to come,” she noted.
The initiative comes at a time when rapid urbanisation has continued to reduce green spaces across many Nigerian cities, highlighting the need for sustained environmental restoration efforts.
“Over the years, development has often taken precedence over environmental preservation, leading to the loss of many trees and green areas. However, there is no better time than now to begin restoring our environment and making a lasting impact,” Atta added.
The exercise forms part of UBA Group’s broader commitment to Environmental, Social and Governance (ESG) principles.
Speaking at the event, UBA’s Group Chief Risk Officer, Awele Ajibola, emphasized the importance of proactive environmental stewardship in addressing climate-related risks.
“At UBA, initiatives like this demonstrate our commitment to the environment and the communities we serve. Climate change presents real and growing risks, and as a responsible financial institution, we recognise our role in driving positive environmental action and sustainable development,” Ajibola stated.
The tree-planting exercise is one of several activities being implemented by the Group to commemorate #WED2026. Other activities include UBA’s inauguration as a member of the Finance Taskforce for Plastic Action in Nigeria, Green Talk sessions with customers across branches, the launch of Sustainability Clubs in participating schools, environmental awareness campaigns across the Bank’s communication platforms, and a month-long Green Challenge designed to encourage environmentally responsible behaviour.
Commending the initiative, Principal of CMS Grammar School, Revd. Jacob Ayokunle Ogunyinka, described the exercise as a practical extension of environmental education.
“Our students learn about the importance of trees and environmental conservation in the classroom. Seeing these principles demonstrated in practice deepens their understanding and inspires greater responsibility towards protecting the environment,” he said.
Similarly, Principal of King’s College, Magaji Zachariah, expressed appreciation to UBA Foundation for selecting the institution as one of the beneficiaries of the programme and for investing in environmental education.
Beyond planting trees, the Foundation engaged students in discussions on environmental stewardship, encouraging responsible practices such as proper waste disposal, water conservation, recycling, and energy efficiency.
Referencing the famous words of Nobel Laureate and environmentalist Wangari Maathai, Atta reminded participants of the importance of immediate action: “The best time to plant a tree was twenty years ago. The second-best time is now.”
UBA Foundation is the Corporate Social Responsibility arm of United Bank for Africa (UBA) Group. The Foundation is committed to the socio-economic development of communities across Africa through strategic interventions focused on education, environmental sustainability, economic empowerment, and special projects.
Determine to enrich the digital experience of its subscribers, Globacom has introduced a new data offer, tagged “More Data More Value only on Glo”. The new offer gives customers as much as 10 percent more data across its bundles as the Nigerian telecom landscape shifts toward a data-led economy.
Globacom explained in a statement that “The new offer is designed to ensure that every Naira spent by a Nigerian consumer yields the highest possible digital return”, thus reinforcing the company’s long-standing reputation for affordability and empowerment.
“More Data More Value” offers a variety of weekly and monthly options planned to balance daytime and night-time usage. The weekly plan includes ₦1,000 option which provides 3.7GB of total data, consisting of 1.7GB main data and 2GB night data, while that of ₦2,000 offers 9GB in total, divided into 6.5GB main data and 2.5GB night data.
The monthly plan also comes with different options including that of ₦1,500 which delivers a total of 5.2GB (2.2GB main data paired with 3GB night data); the ₦2,000 option offering 6.25GB data, a combination of 3.25GB main data and 3GB night data and16.5GB, comprising 14.5GB main data and 2GB night data which goes for N5,000. There is also the ₦10,000 and N15,000 options, with N10,000 providing 42GB total, 38GB main data and 4GB night data, while ₦15,000 offers 64GB in total, consisting of 62GB main data and 2GB night data.
Glo’s enhanced bundles provide the necessary incentive for students, remote workers, and entrepreneurs to browse longer, whether for TikTok trends, Instagram aesthetics, YouTube streaming, or high-stakes gaming and stream without fear, ensuring their professional and social lives remain uninterrupted.
These improved bundles from Globacom give entrepreneurs, remote workers, and students the incentive they need to browse longer, whether for high-stakes gaming, YouTube streaming, Instagram aesthetics, or TikTok trends, and stream on end, while ensuring seamlessness in their social and professional lives.
Beyond individual users, the “More Data More Value” offer also extend its benefits to families and SMEs. With the reliance of small businesses and households on mobile hotspots for their daily operations, Glo has optimized its offerings to serve as the preferred network for high-volume usage.
The offer also serves as a driver of digital transformation through the Glo Café app. Customers are encouraged to utilize the app for seamless bundle subscriptions, as it allows them to manage their “more than 10% extra” data with ease, thus ensuring rewarding user experience.
“More Data More Value” offer underscores Glo’s commitment to providing the best value-for-money which gives Nigerians the benefit of not compromising on their digital lifestyle.
