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FirstBank, Others Partner Junior Achievement for Africa’s Largest High School Entrepreneurship Competition

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FirstBank has partnered with JA Africa on Company of the Year (COY) Competition, Africa’s largest high school entrepreneurship competition scheduled to take place in Lagos, Nigeria from 7th to 9th December under the theme, “Fueling Changemakers.”

The JA Africa Company of the Year (COY) Competition which returns for the 12th year in a row and the first in-person meeting post-COVID, after two successful virtual competitions is JA Africa’s annual celebration of winning teams from the JA Company Program, a program which equips senior secondary school level students with the entrepreneurial skillset and mindset to solve problems in their communities by launching a business venture and unleashing their entrepreneurial spirit.

The young entrepreneurs who compete at JA Africa’s COY go through qualifying competitions at national and sub-national levels, competing against thousands of youth startups to qualify for the regional competition. This program transitions them into employment and transforms them into employers. Having emerged as national winners, they will represent their countries on the continental stage where they have the arduous task to impress a panel of international business professionals who serve as judges.

FirstBank’s sponsored winners of the 2022 Junior Achievement Nigeria (JAN) National Company of the Year (NCOY) Competition – Green Apex from the International School, University of Lagos – will represent Nigeria in the JA Africa Company of the Year (COY) Competition.”

“Given the increasingly complex set of global challenges facing young people around the world from unemployment to climate change and food shortage, we focus on equipping our students to be solution providers who bring about positive change within their communities while developing businesses that generate wealth,” said Simi Nwogugu, JA Africa’s CEO. “Our students have demonstrated great resilience and innovation in grappling with these challenges and I am extremely proud of all of them. I am also deeply grateful to all our sponsors who stayed with us throughout the pandemic period and contributed greatly towards making this a live event again.”

Also speaking on the forthcoming Africa Company of The Year Competition, Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank said; “the 2022 Junior Achievement Company of The Year competition remains another viable opportunity to promote the entrepreneurship skills, spirit and talent innate in school children, across Africa. We commend Junior Achievement Africa on the COY initiative as it serves as an avenue to expose participants to inter-cultural values and traditions that will foster the unity of the continent.

We wish all participants, particularly the Nigerian representatives – Green Apex from the International School, University of Lagos – the best as learnings from every initiative could solve critical problems facing mankind as we collectively make the world a better place.

This year, nine student startups representing Eswatini, Kenya, Ghana, Nigeria, South Africa, Tanzania, Uganda, Zambia and Zimbabwe will put their business acumen to the test as they present the achievements of their businesses in numerous formats to win the prestigious title of JA Company of the Year and other amazing prizes from the sponsors. The highest among the prizes at stake will be the opportunity to represent the African region at the Ralph de la Vega Global Entrepreneurship Competition which will bring together COY winners from the six regions where JA Worldwide operates to compete for awards, $15,000, educational opportunities, and more.

The 2022 JA Africa COY Competition is made possible by the generous support of Headline sponsors FedEx, Citi Foundation and PMIEF; Platinum sponsors: Bloomberg, Johnson & Johnson, Delta Air Lines and First Bank of Nigeria Limited; Gold sponsors: Tomorrow Foundation, Nascon, GB Foods and Rise, who by supporting this competition are demonstrating their commitment to job creation and youth empowerment on the African continent.

For more information, visit: www.ja-africa.org/coy2022

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Ecobank Nigeria Wins Deutsche Bank’s Client Excellence Award

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Ecobank Nigeria, a subsidiary of the leading pan-African financial services group Ecobank Group, has been awarded the Client Excellence Award by Deutsche Bank in recognition of its outstanding performance, operational excellence, and commitment to delivering superior Institutional Cash and Trade Finance services.

The award recognises Ecobank Nigeria’s consistent achievement of high standards in transaction processing, service delivery, operational efficiency, and collaboration within the global trade finance ecosystem. It further reinforces the Bank’s position as a leading financial institution providing innovative financial solutions that support corporates, financial institutions, and businesses engaged in domestic and international trade.

Receiving the award on behalf of Ecobank Nigeria, Segun Anjorin, Coverage Head, Corporate and Investment Bank, Ecobank Nigeria, expressed appreciation to Deutsche Bank for the recognition, noting that the award reflects the Bank’s unwavering commitment to excellence, innovation, and customer-centric service delivery.

“We are honoured to receive the Deutsche Bank Client Excellence Award. This recognition is a testament to our commitment to delivering seamless and innovative solutions that enable our clients to thrive in an increasingly interconnected global marketplace.”

“At Ecobank Nigeria, we remain focused on leveraging our extensive pan-African network, digital capabilities, and strategic partnerships to facilitate trade, improve transaction efficiency, and support economic growth across Nigeria and the African continent. We value our longstanding relationship with Deutsche Bank and look forward to further strengthening our collaboration in the years ahead,” Anjorin said.

Commenting on the award, Anand Jha, Managing Director, Global Head of TFFI and Regional Head, Trade & Lending, Middle East and Africa (MEA), Deutsche Bank, commended Ecobank Nigeria for its exceptional service standards and operational excellence.

“The Client Excellence Award recognises institutions that consistently demonstrate outstanding quality, efficiency, and reliability in transaction banking operations. Ecobank Nigeria distinguished itself through its commitment to excellence, strong operational controls, and customer-focused service delivery that has created measurable value for clients and counterparties alike.”

“We are pleased to recognise Ecobank Nigeria’s achievements and appreciate the strong partnership we have built over the years. We look forward to continuing our collaboration in supporting trade, payments, and financial flows that drive economic development across Africa and beyond,” Jha said.

The recognition underscores Ecobank Nigeria’s continued investment in world-class banking solutions and reinforces its role as a trusted financial partner for businesses seeking efficient cash management, trade finance, and cross-border banking services. It also highlights the Bank’s commitment to supporting economic development by facilitating seamless trade and financial transactions across Africa and the global marketplace.

About Ecobank Nigeria
Ecobank Nigeria is a member of the Ecobank Group, the leading pan-African banking institution with operations in 33 African countries and international offices in London, Paris, Beijing, and Dubai. With over 220 branches, more than 36,000 agency banking locations, and robust digital platforms, Ecobank delivers accessible, affordable, and instant banking services. The Bank is strategically positioned to support pan-African trade, particularly under the African Continental Free Trade Area (AfCFTA).

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Wema Bank Announces Hackaholics 7.0 with Mouthwatering Prizes

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Nigeria’s oldest indigenous national bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT, Wema Bank, on Wednesday, announced the 7th edition of its flagship innovation initiative, Hackaholics.

Launched in 2019, Hackaholics is Wema Bank’s youth and tech-focused initiative designed to serve as a platform for young Africans with creative, game changing, tech-driven ideas and products, to bring their ideas to life. Since its launch, Hackaholics has discovered thousands of groundbreaking solutions, supported over 10,000 startups, engaged 50,000 participants, developed over 100 solutions from scratch and disbursed $500,000,000 in grant prizes to dozens of winners whose remarkable solutions have earned a top spot in the past 6 editions. With the launch of Hackaholics 7.0, Wema Bank is set to execute the biggest Hackaholics edition yet.

Themed “Powering Possibilities”, Hackaholics 7.0 will kick off with an open call for applications, calling on all young Africans with creative tech-driven solutions across any of the 7 verticals: Financial Inclusion, Healthcare, Digital Transformation, Education, Sustainability, Social Impact and Future of Work. Each application is to be made via the portal at hackaholics.wemabank.com, under one of three tracks: The Startup Pitch Competition, Hackathon and the newly introduced Social Impact track.

Following the application window, Hackaholics 7.0 will then proceed on a national tour which will touch 10 pitch centres across the six geopolitical zones of Nigeria. Each pitch centre will serve as a hub for innovators within the region to pitch their creative solutions and get the opportunity to secure the top spot in their pitch centre, and ultimately, proceed to the grand finale where the winners of Hackaholics 7.0 will be announced.

Speaking on the inspiration behind Hackaholics’ exceptional seven-year journey, Wema Bank’s MD/CEO, Moruf Oseni, reiterated the Bank’s commitment to powering innovation, empowering youth and promoting economic growth in Africa.

“At Wema Bank, we believe that institutions have a responsibility that extends beyond providing commercial services. We have a responsibility to create meaningful opportunities, provide the right resources, enable innovation to thrive, and support the ecosystems that will shape today’s youth as well as tomorrow’s economy. This sense of responsibility is what has driven the evolution of Hackaholics from inception till date. With Hackaholics, we have, and we are investing in the next generation of innovators, inspiring innovation that will impact lives, strengthening Nigeria’s innovation ecosystem and giving youth a platform to make meaningful use of their creativity; and the numbers continue to speak volumes,” Oseni said.

While performing the function of declaring the application window open, Tajudeen Bakare, Wema Bank’s Divisional Executive, Business Support, noted that “As we launch Hackaholics 7.0 today, we are opening up a new phase of opportunities for more Nigerian youth to challenge themselves, explore their creativity and become startup founders. I encourage every young Nigerian with a passion for innovation to leverage the opportunity that we have carefully curated through Hackaholics and get ahead of the curve in today’s dynamic work landscape. Together, we can continue to build an ecosystem where innovation flourishes, opportunities expand, and young people are empowered to create solutions that shape the future”.

Hackaholics 7.0 is free, and open to any Nigerian youth who has innovative ideas and solutions to pitch. Interested startups and innovators can apply at hackaholics.wemabank.com. All updates on the Hackaholics 7.0 journey will be made available on the Bank’s website @wemabank.com as well as its social media platforms @wemabank and @alat_ng.

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World Bank Okays $1.25bn Loan for Nigeria, Unveils 6-Year Growth Strategy

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The approval, announced on Wednesday, falls under the Nigeria Actions for Investment and Jobs Acceleration (NAIJA) programme and is part of the World Bank’s Country Partnership Framework (CPF) for Nigeria, covering 2026 to 2032.

According to the bank, the financing will support reforms to improve competitiveness, deepen capital markets, modernise regulations for the digital economy, strengthen power sector reforms, expand agricultural productivity and enhance domestic revenue mobilisation. The programme also seeks to reduce trade barriers in line with Nigeria’s commitments under ECOWAS and the African Continental Free Trade Area.

The approval follows public debate over Nigeria’s rising debt profile, with some Nigerians questioning the country’s continued reliance on external borrowing and calling for greater transparency in the use of previous World Bank loans.

Beyond the financing, the World Bank said the new partnership framework aims to expand electricity access to 32 million Nigerians, provide broadband connectivity to 58 million people, improve health and nutrition services for 40 million citizens and support 9.5 million farmers through higher agricultural productivity.

World Bank Country Director for Nigeria, Mathew Verghis, said recent macroeconomic reforms had helped stabilise the economy but stressed that sustained improvements in living standards would depend on addressing structural constraints to private investment and job creation.

The World Bank Group added that its private sector arms, the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), will support the strategy by mobilising private capital, expanding infrastructure investment and providing guarantees to reduce investment risks.

The new framework reflects the World Bank’s continued focus on supporting Nigeria’s economic reforms while encouraging greater private sector participation to drive long-term growth and reduce poverty.

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