Business
Empowerment of Women As Hallmark of Nestlé’s Corporate Outlook
By Eric Elezuo
The English dictionary defined empowerment as the state of giving power, authority or wherewithal to carry out specific assignments without recourse to another authority. It is taking charge legally or otherwise towards becoming independent, self reliant, self sustaining and capable to meet personal and communal responsibilities. These are the faces that Nigeria’s foremost food, beverage and other essential household makers, Nestlé Nigeria Limited have crowned itself with, empowering all and sundry, especially women, to become masters of their lives. And that explains why this year, 2022, the brand was recognised as a Top Employer in Nigeria, having remained in the business of teaching Nigerian women, and others how to fish.
The honour was bestowed by Top Employers Institute programme, which is saddled with the responsibilities of certifying organisations based on the participation and results of their HR Best Practices Survey. The survey covers six HR domains consisting of 20 topics including People Strategy, Work Environment, Talent Acquisition, Learning, Well-being, Diversity & Inclusion and more. It is worthy of that the more refers to the organisations social corporate responsibilities targeted at off office employees – the general public.
In the words of the brand “Our goal is to ensure women feel supported, valued and respected. We have been working to balance the gender makeup of our workforce, and are actively creating a gender-balanced leadership, by increasing the proportion of women in managerial positions, including in our most senior executive posts.
“Our Gender Balance Acceleration Plan aims to increase the proportion of women in our top 200+ senior executive posts. We carefully monitor our succession planning to ensure that we have the right pipeline for our most critical business roles and provide career support and guidance through our Senior Leader Development Roadmap (Corporate Mentoring Program, Senior Leaders Development Assessment Center and Senior Executive Program).
“Outside our own operations, in the agricultural communities that cultivate and process our raw materials, we are also working to change the economic, social and cultural outlook for women through a host of different programs that aim to teach the skills required to increase farms’ productivity, build better businesses and improve livelihoods.” This is a company that no doubt has women interest at heart.
Nestlé’s rise to assuming the top Employer status stem from its dedication to a ‘better world of work, exhibited through excellent Human Resource policies and people (oriented) practices’. These practices have transcended the four walls of the company to affect the general public, giving women the leverage to support their men, and in most cases become their own economic masters.
For starters, Nestlé’s efforts at empowering women are not limited to geo-location, but a worldwide endeavour. During the 2014 United Nations 6th Annual Women’s Empowerment Principles event, Nestlé shared its mind bulging efforts to empower women and girls worldwide, exhibiting its works in cooperation with almost 750,000 women to provide technical and business skills. Its aims are targeted at boosting education, training and opportunities, to encourage the professional development of women in the marketplace and community.
It is worthy of note that Nestle’s attention to elevating the status of women through veritable empowerment has not gone unnoticed, her modesty notwithstanding. In August 2021, the brand launched “Nestlé Empowering Rural Women in Nigeria project”, the first of its kind, with the sole aim of helping rural women retailers within the company’s value chain scale up their businesses to increase their household incomes. The programme, which has so far assumed nationwide relevance, has been launched in Nsukka and Obolo-Afor, both in Enugu State to reach an additional 50 women retailers among other places including the suburb of the Federal Capital Territory and Osogbo for the first and second phases. The launch of the programme in the above locations brought the number of beneficiaries to 150, and today continues to count, integrating more Nigerian women, who are presently capable of holding their own. Nestle doesn’t settle for less in its quest to create a self reliant Nigerian woman. It is one of the Creating Shared Value initiatives that Nestlé deploys to help build thriving communities by improving livelihoods.
Wondering why the Nestlé Empowering Rural Women in Nigeria project? The answer is not far fetched. According to the brand’s corporate office, the programme is designed to equip female distributors at the end of the pyramid to scale up to three times the size of their existing business over Three months and to sustain the new level.
Mr. Khaled Ramadan is the Commercial Manager for Nestlé Nigeria, and while lending credence to Nestlé’s contributions to empowering women within her value chain, said, “At Nestlé, we believe that by contributing to the health and wellbeing of our communities, we create shared value for all stakeholders while contributing to the growth of our business.
“Nestlé Empowering Rural Women in Nigeria project” is our way of improving the livelihoods of women in the rural areas by helping them scale their businesses to three times its current volume within three months. Our ambition is to empower 300 of these women who are retailers within our distribution channel.
“We have received very positive feedback from the first 100 beneficiaries of the program who are based in the suburbs of Abuja and Osogbo. They are reporting faster turnover and increased revenue as well as stronger visibility of their business outlets within their locations. We are therefore confident that our intervention through training, mentorship and product grants are a right mix for success. By improving the household incomes of the rural women, Nestlé is helping to improve their access to adequate nutrition, good healthcare and good quality education for their families.”
With the zeal to make the women come out tops, Nestle involves the experts, and in this case, FDConsults, which delivers the implementation process. The beneficiaries therefore, receive grants by way of Nestlé products valued at 300% of their current monthly sales, participate in training and mentorship programs which equip them with the requisite skills to scale up and sustain their businesses. The Consult also render post implementation efforts, in the form of giving them three months post training to help them succeed. Each beneficiary retailer is linked to a one-on-one mentor for guidance and consistent support. At the end of the day, the beneficiaries come out grounded and rounded, gaining the ability to master the trade and remain relevant in the business for sustainability.
“It is a delight for me to see the progress already made by the beneficiaries of “Nestlé Empowering Rural Women in Nigeria project,” Mr. Phranklin Audu, Lead Trainer & Head of Partnerships at FDConsults, said, maintaining that reports of increase in turnover and profit are very encouraging.
In no distant time, the fourth phase followed in Port Harcourt to cover the south south region with 50 additional beneficiaries, and expanding the financial and security base of Nigerian rural women, and at the same time, improve their standard of living with.
The women enjoy the training and mentorship provided by Nestlé and her implementation partners – FDConsults, and have not failed to report faster turnover and increased revenue as well as stronger visibility of their outlets within their locations. Again, the brand has a track record of helping rural women-dwellers access information and skills to improve their standard of living. The most beautiful aspect is that each woman is linked to a mentor for one-on-one guidance and consistent support spanning three months or more.
Feedbacks
“I feel so happy about this opportunity. I still cannot believe that this is true, because it is just like a dream. I want to say a big thank you to Nestlé” – Mrs. Joyce Nwaiwo
“I am very happy to have been selected to benefit from this program. I am going home with good news. With what we were taught today, I now have the knowledge to support my business to grow. With the help of the goods that Nestlé is also giving to us, I have everything I need to make my business succeed. I thank Nestlé for this important initiative, it will help all the women benefiting from the program a lot” – Mrs. Peace Eze
“I am beyond happy and I do not know how to express myself for being one of the 50 women chosen to participate in this empowerment by Nestlé in Enugu State. The free goods and training we received will be particularly helpful in taking my business to the next level. I thank Nestlé for everything they have done for me and my family” – Mrs. Clementina Irandi
“I want to thank Nestlé for doing a lot for my family. I am so happy that I was selected to participate in this program. The grant will increase my business and income which will enable me to improve my standard of living and that of my family” – Mrs. Bashiru Hairat
Even in official work capacity, Nestlé has not toiled with the wellbeing of women, elevating the gender to high profile offices, recognising their strength and capabilities in a changing world. A typical example is the Corporate Communications and Public Affairs Manager, Mrs. Victoria Uwadoka, whose efforts have catapulted the brand to enviable heights.
Nestle is quite an all rounder in empowerment. It does not stop with women, but has gigantic hand in the pie of also giving youths, the children, the disabled and many others the desired platform to become what they could and reach for the stars.
Nestlé has gained recognition by the Bloomberg Gender Equality Index for its transparency in gender reporting and advancing women’s equality in the workplace for three consecutive years.
It is believed that when the women are empowered, the community is empowered, and Nestle takes cognizance of the fact.
Nestle and women empowerment; two of a kind!
Access Bank PLC is set to host its first-ever Africa Trade Conference (ATC), a landmark event focused on advancing Africa’s economic transformation under the theme, ‘Empowering Africa Through Trade, Innovation, and Sustainable Growth’.
Scheduled for March 12, 2025, in Cape Town, South Africa, the conference is poised to bring together the most influential voices in trade, finance, and policy to address the future of commerce across the continent.
With Africa’s trade finance gap estimated at $81 billion annually, the conference aims to tackle the systemic challenges hindering trade, particularly for SMEs and domestic firms. By fostering collaboration among key stakeholders, the Conference will explore innovative solutions, sustainable trade practices, and strategies for expanding African economies into global value chains.
Roosevelt Ogbonna, Group Managing Director/Chief Executive Officer, Access Bank PLC, emphasised the importance of the Africa Trade Conference, in addressing these pressing issues. “The Africa Trade Conference represents a crucial step in redefining Africa’s trade potential. By creating platforms for dialogue, innovation, and actionable solutions, Access Bank is enabling African businesses to connect and thrive in the global economy.”
Access Bank’s presence across 24 countries globally, including 16 in Africa, provides a unique advantage in facilitating inter- and intra-African trade.
The Bank’s growing network positions it as a key player in addressing trade complexities and promoting inclusive growth across the continent.
Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank, highlighted the broader vision of the forum, saying, “The Africa Trade Conference is a platform to not only address Africa’s trade challenges, but to champion the continent’s opportunities.
Through strategic partnerships, tailored financial solutions, built on the ethos of sustainability, we are paving the way for Africa’s businesses to take their place on the global stage.” This flagship event will convene a distinguished line-up of seasoned speakers, and top executives from leading international banks, Development Finance Institutions (DFIs), and captains of industry in Africa.The ATC will also shine a spotlight on the transformative potential of the Africa Continental Free Trade Area (AfCFTA), which aims to reduce trade barriers, enhance infrastructure, and integrate African economies into global trade networks.
Furthermore, the event will explore critical themes shaping the continent’s economic future, including the transformative role of digitization and innovation in global trade, solutions for overcoming trade barriers to enhance market access, as well as sustainable trade practices and innovative financing models, thereby providing a comprehensive roadmap for advancing Africa’s position in global commerce.
Please visit https://africatradeconference.accessbankplc.com/ for more information.
One of Africa’s leading financial institutions, Zenith Bank has reaffirmed its dedication to employee welfare by announcing the promotion of over 4,000 staff members and implementing salary increases ranging from 20% to 30% across various employee grades.
This bold initiative, under the leadership of Managing Director/CEO Dame Adaora Umeoji, is aimed at boosting staff morale and productivity.
With over 8,000 employees, this significant investment in human capital reflects Zenith Bank’s belief that its workforce is its most valuable asset. The salary adjustments, effective January 1, 2025, aim to reward performance, alleviate financial pressures, and ensure enhanced customer service delivery. Promotions for top management are also expected as part of the bank’s ongoing commitment to excellence and growth.
Dr. Umeoji emphasized the importance of maintaining a motivated workforce, stating that the bank’s dedication to its employees will translate into superior service experiences for customers. She highlighted the organization’s commitment to setting industry benchmarks through innovative solutions and exceptional service delivery.
Zenith Bank’s continued leadership in the Nigerian financial sector is underscored by numerous awards, including Best Bank in Nigeria 2024 by Global Finance and recognition as the Biggest Bank in Nigeria by Tier-1 Capital in 2024 by The Banker. These accolades complement its reputation for innovation, sustainability, and corporate governance.
By prioritizing employee welfare during challenging times, Zenith Bank not only strengthens its internal operations but also sets a standard for other financial institutions in the region, reinforcing its position as a leader in Africa’s banking landscape.
As a major player in Nigeria’s financial landscape, under its managing director/chief executive officer, Adaora Umeoji, the bank has embraced a holistic approach to growth that integrates environmental, social and governance (ESG) principles with its core business objectives.
At the heart of Zenith Bank’s strategy is a focus on buoying economic inclusion, supporting small and medium-sized enterprises (SMEs) and driving technological innovation to enhance customer experiences. The bank’s proactive investments in renewable energy, sports, digital transformation and impactful community initiatives exemplify its dedication to creating long-term value for its stakeholders while addressing global sustainability challenges.
Zenith Bank’s continued success is driven by a combination of strong financial performance and an unwavering commitment to its stakeholders.
Zenith Bank’s growth trajectory is underpinned by a robust expansion strategy. With operations in several countries, including the UK, UAE, China, and most recently, France, the bank continues to expand its geographical footprint.
As usual, the bank’s efforts in 2024 did not unnoticed as the lender clinched several local and international awards in recognition of its outstanding performance.
In 2024, the bank won the Best Bank in Nigeria at the annual Global Finance award in Washington, DC, NY.
The bank also emerged the Biggest Bank in Nigeria by Tier-1 Capital, 2024 by The Banker; Best Commercial Bank, Nigeria 2024 – World Finance; Best Corporate Governance, Nigeria 2024 – World Finance; Most Sustainable Bank, Nigeria 2024 – International Banker; Bank of the Year, 2024 – Business Day; Retail Bank of the Year, 2024 – Business Day; Bank of the Year 2024- The Banker.
It also clinched the Most Responsible Organization in Africa 2024 – SERAS; Best in Gender Equality & Women Empowerment 2024 – SERAS and Best in Transparency & Reporting 2024 – SERAS
In the first nine months of last year, the earnings per share (EPS) of FBNHoldings Plc, the parent company of First Bank of Nigeria Limited as well as its profit grew by 125 per cent year-on-year (Y/Y).
But there is much more to where the premier bank stands in core banking and its profitability is not a mere accretion of transaction charges but that it has also increased its commitment to financial intermediation. In the three quarters, its interest income, which gives a clue of sustainable profit run, grew by as much as 165 per cent to N1.63 trillion.
And these are not just a random progression, neither are they products of white noise in its corporate journey. It has shown consistency of growth in both top and bottom-line metrics in the last few years, giving an expression to the tagging of its post-2015 crisis era as the ‘decade of miracle’ in the investment market.
For instance, from 2019 to 2023, its most recent audited financial, its EPS has expanded by over fourfold – from 195 kobo to 859 kobo, one of the fastest growing in Nigeria’s capital market. In the same period, it grew its yearly operating profit by over 320 per cent, from a mere N73.8 billion to N310.5 billion.
On the top line, its earnings nearly tripled, growing from N623 billion to N1.6 trillion in five years, during which its total assets jumped by N10.7 trillion to close last year at N16.94 trillion. In the half-decade, according to data obtained from its books, its total shareholder’s equity even grew faster – expanding from N661 billion to N1.75 trillion or 163 per cent.
As a key growth driver, its loans to customers saw a whopping rise of 243 per cent in the period to hit N6.36 trillion as of December 2023. Its facilities, according to information gleaned from its financials are spread across key sectors, including oil and gas, manufacturing, agriculture, agro services, construction, and real estate among others.
Whereas the five-year cycle has demonstrated robust growth, last year’s operations demonstrated even more resilience with the awaited full-year result promising to trump the previous ones. On key profitability indices, last year’s nine months exceeded the 2023 comparative period or full year by wide margins.
For instance, its earnings in the first nine months of 2024 were N2.25 trillion or N655 billion higher than the entire 2023 figure and 134 per cent higher than its comparative period, pointing to an annualised gross of N2.8 trillion. While the interest income showed remarkable growth, its non-interest income was also 82 per cent up from the 2023 three quarters’ N320.5 billion.
The lender’s recent migration to transaction-led banking is paying off with the reinvention of its digital payment system. At the close of last September, First Mobile subscribers had hit 6.9 million while over 23 million had subscribed to a potpourri of online platforms.
With its new 10-year vision, which was articulated in 2023, billed to consolidate these gains, the ‘decade of miracle’ might as well serve as the launch pad of the new FirstBank. But the recent boardroom intrigue and the dispute with General Hydrocarbons Limited (GHL) are a costly distraction the bank cannot afford. Hence, many stakeholders are seeking faster and less confrontational solutions to the crisis.
Amidst the conflicts, the Chief Executive of FirstBank Group, Olusegun Alebiosu, described a 10-year vision of the bank as a major stand in its Vision 2033, which would push the Nigerian premier financial institution to top three universal banks in Africa across retail, wholesale and wealth management customer segments.
“Given that the 10-year vision aspiration is still very market-relevant, and I was also an integral part of the process that birthed it, I intend to focus on ensuring its disciplined execution during my tenure as the Chief Executive Officer.
“As the CEO, I have a clear vision for FirstBank Group, and I am confident that with the strong support of the rest of the management team and board, we will deliver a franchise that will continue to be the pride of Nigeria and Africa within the financial services landscape,” the chief executive, who has told the market that his risk management background means nothing short of sustainable growth, said.
At the 12th AGM of FBNHoldings held on 14th November 2024, shareholders approved another N350 billion capital raise action, which the bank said would be executed in a blend of approaches this year. Plus, with the previous N150 billion rights issues, FirstBank is expected to exceed the new N500 billion minimum capital requirements well ahead of the 2026 deadline to keep its international licence.
A major speed slowing the pace of the traditional banks today is the natural advantage that digital-first banks like Opay, MoniePoint and others have been cloud-natives. Sadly, the brick-and-mortar toga poses a legacy constraint for traditional banks. But FirstBank, the first fruit of the conventional banks, has gone ahead with a digital evolution campaign.
Today, the CEO said, over 90 per cent of FirstBank’s customer-induced transactions happen on the digital channels – FirstMobile, FirstOnline, Lit App, *894#, FirstDirect and ATMs, where it has a comparative advantage.
“As the bank implements its cloud strategy, we are focused on building a nimbler, always-on and resilient financial services group that leverages its rich legacy to serve its customers’ current and emerging needs,” Alebiosu believes.
Interestingly, 2025 is the take-off of the bank’s 2025 to 2029 strategic planning cycle. The bank intends to “double down” on its dominant position across all the markets where we operate. Part of the programme is strategic investments to improve customer experience to make it easier for existing and prospective customers to interact and do business on its offline and digital platform, deploying new technologies and ramping up artificial intelligence deployment to scale up digital operations.
But as it turns out, FirstBank and its sister organisations also have a responsibility to urgently put behind the current distractions to continue consolidating the gains of the ‘decade of miracle’.
Culled From The Guardian
