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FirstBank Partners ELOY Foundation to Promote Sustainability of Female-Owned SMEs

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In furtherance of the need to empower female business owners across the country, The ELOY Foundation, in partnership with FirstBank presents the ELOY Foundation Business Shower, created to support female entrepreneurs on their journey to building sustainable businesses. The support from FirstBank will be carried out through the FirstGem loan scheme designed for female-owned or partnered MSMEs and its SMEConnect initiative.

The partnership focuses on key sectors of the economy and designed to have female entrepreneurs exposed to essential business skills like training, networking and the ELOY Foundation Business Toolkit, a compilation of business survival skills nuggets. The business shower will avail businesses a platform to pitch their ideas to win seed grants and join the ELOY Foundation Sustainable Empowerment Programme 2022. Participants will also be able to access the FirstGem single digit loan, where eligible.

The ELOY Foundation Business Shower will hold in 5 locations across the country. Kicking off in Lagos on 23 June 2022, the train moves to Port Harcourt on 25 June 2022, then Abuja on 30 June 2022. In July, Kano and Abia will host female business owners on the 2nd and 7th, respectively.

The ELOY Awards Foundation Business Showers will offer an avenue to sustain women empowerment by providing entrepreneurial training and mentorship from experienced businessmen and women, arming participants with tools and information to help them grow their businesses.

According to Tewa Onasanya, Founder of the ELOY Awards Foundation, “it is not just enough to talk about empowering business owners, it is very important to sustain empowerment by providing guidance towards their business progress and giving them access to different resources to help them continue to thrive. MSMEs are the backbone of any nation and there is a great need to sustain this chain of the economy. It is on this common ground that FirstBank has partnered with the ELOY Team to contribute meaningfully in empowering women to achieve fulfilment in their chosen business endeavours.“

Speaking on the partnership, Folake An-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank said, “we commend ELOY Foundation for their efforts on this initiative as the continued strengthening and inclusiveness of female driven business endeavours is essential to the growth of the national economy. We are happy to partner with ELOY Foundation on its Business Shower. Together, we will drive the entrepreneurial viability of participants and expose them to business nuggets that will take their business to the next level.

Woven into the fabric of society for over 128 years, FirstBank plays a leading role in supporting women through strategic empowerment, capacity building and mentorship programs for women in MSME, leveraging its FirstGem and SMEConnect propositions to women across diverse sectors of the economy as well as strategic partnerships with women empowerment organisations like ELOY.

Registration is currently ongoing for the ELOY Business Shower via the link below.

https://eloyawards.com/eloy-business-shower-registration/

Female business owners are encouraged to send in their business pitch video and business plan for a spot on the ELOY Foundation Sustainable Empowerment Program and a chance to win a grant for their business.

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Business

Naira Gains Against Dollar, Trades at N1,453/$1

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The Naira continued its appreciation at the official market on Thursday, March 21, 2024 to close at N1,453.28/$1, according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

This represents an appreciation of N39.33 when compared to the N1,492.61/$1 it closed on Wednesday, March 20, 2024.

The intraday high was N1,598/$1, while the intraday low was N1,300/$1, representing a wide spread of N298/$1.

Similarly, the Naira appreciated against the dollar at the parallel window to trade at N1,500/$1, this represents an appreciation of N20.00 as against the N1,520 /$1 it traded the previous day.

The Naira also appreciated slightly against the British Pound to trade at N2,000/£1 as against the previous trading day’s price of N2,020/£1 representing a gain of N20 for the local currency.

The Canadian dollar, however, closed flat against the naira to trade at N1,270/CA$1 same as the N1,270/CA$1 it traded the previous day representing a decline of N20 in the local currency.

The Naira gained N30 against the Euro to trade at N1,670/€1 as against the previous closing price of N1,700/€1.

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Global Money Week: MoneyMaster PSB Trains Students on Savings Culture

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2024 Global Money Week: MoneyMaster PSB trains students on savings culture

MoneyMaster Payment Service Bank Limited (MMPSB), Nigeria’s leading payment service bank, is poised to train 5,000 students on the need to embrace savings and investment culture in commemoration of the 2024 Global Money Week.

Tagged “Catch them Young” experiential campaign, the programme aims to have the students drawn from schools in Nigeria participating in the week-long financial literacy training in the bank’s coordinating centres across 10 participating states of the Federation.

In the same vein, MMPSB will equally engage teachers and enlighten them on basic knowledge of savings and investment for future purposes.

The 2024 Global Money Week with the theme “Protect your money, secure your future,” is billed for March 18 to 24, 2024.

MMPSB  disclosed in a press release that it was  committed  to the provision of top-notch banking services to its customers at all times, including payment services through wallets, savings, individual and business accounts, as well as provision of a platform for customers to buy airtime/data, pay bills and subscribe to cable television, amongst others.

“As part of the week-long celebration, MoneyMaster PSB will also be releasing thought leadership videos on safety and security on how banking customers can protect themselves. These videos will be shared to its customers via direct email and also on its social media handles for the benefit of the general public,” the bank further said.

Global Money Week is an annual event which creates global awareness-raising campaign on the importance of ensuring that young people, from an early age, are financially aware, and are gradually acquiring the knowledge, skills, attitudes and behaviours pivotal to making sound financial decisions and ultimately achieve financial well-being.

This year’s edition is focused on safe money management, and the importance of adopting a responsible and informed approach to personal finance, by being aware of potential risks in the financial sector and protecting one’s hard-earned money.

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Fidelity Bank Shares 3000 Food Packs Among Residents of Zamfara Community

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Leading Financial Institution, Fidelity Bank Plc has distributed over 3000 food items to vulnerable households and less privileged families in Gusau, Zamfara State.

The donation is a gesture under the bank’s Corporate Social Responsibility (CSR) Initiative created to reach out to vulnerable persons and reduce the effect of hunger in the society.
Speaking at the event, the bank’s Regional Head, North West 2, Muhammad Ahijo, noted that “The Fidelity Food Bank Initiative is aimed at alleviating the hardship experienced by many in the face of current economic challenges in the country.
His words “At Fidelity Bank, we recognize the importance of supporting and empowering communities to grow and prosper and we believe that by investing in the well-being of the communities where we operate, we contribute to the creation of a better society for all.”
“We firmly believe that by addressing the root causes of poverty and alleviating hunger, we can make a meaningful impact on the lives of those in need. And in light of this, Fidelity Bank has donated 3,000 food packs to vulnerable families in the state, to help them get through these tough times.” He stated.
Applauding the initiative by Fidelity Bank, Zamfara State Governor, Dauda Lawal, represented by his Chief of Staff, Alhaji Mukhtar Lugga, noted that “We are grateful for the kind gesture from Fidelity Bank in providing support to vulnerable households and less privileged families in our community. This is coming at a time when people cannot afford a meal before and during the holy month of Ramadan”.
On his part, the Accountant General of Zamfara State, Alhaji Ali-Akilu Muhammad, thanked Fidelity Bank for its generosity and urged other banks operating in the state to emulate the Fidelity Bank gesture by providing succor to the less privileged families in the state.
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