Business
TTP: Nestlé Nigeria Graduates 6th Batch, Celebrates Best Graduating Student
Oluwadarasinmi Adesakin is a beneficiary of Nestlé Nigeria’s 18-month Technical Training program which aims to bridge the skills gap by equipping youth with the required expertise to support industrialization. He is the best graduating student of Batch 6.
A citizen of Oyo State in Western Nigeria, Darasinmi obtained his National Diploma in Mechanical Engineering from the Petroleum Training Institute in Warri, Delta State.
Although he was already working, he aspired to develop himself further and was elated to be accepted into the technical training program. He therefore set his mind to make the best of the opportunity and to attain the best possible result.
Darasinmi’s determination paid off as he finished his studies in flying colours, achieving a total of 29 distinctions, out of 36 courses in the City and Guilds examinations, the best result since the program started in 2011.
“Today was a huge surprise for my father, Mr. Adesakin Adeoye, a Mechanical Engineer himself,” Darasinmi said. “He did not know I was the best graduating student or that I would be going to Switzerland for an internship program. He was so elated and could not hold back his joy. This, for me, was very fulfilling.”
Oluwadarasinmi Adesakin was ecstatic as he joined his colleagues at the 6th graduation ceremony which took place at Nestlé Nigeria’s Technical Training Center in Agbara, Ogun State. All of the 20 trainees excelled at the Diploma 3, 4 and 5 examinations of London City and Guilds, obtaining distinctions in Thermodynamics, and the best overall results in West Africa.
Speaking at the ceremony, the MD/CEO, Nestlé Nigeria, Mr Wassim Elhusseini said, “At Nestlé, we believe that young people have a key role to play in building thriving, resilient communities. Young people are our future, they are the entrepreneurs and innovators of tomorrow. They do not only help their communities thrive, but also benefit Nestlé with their fresh ideas, diverse perspectives, and energy. This is why we are passionate about helping them to build the capabilities and skills they need to contribute towards accelerating the industrialization we need to grow our economy.”
In his comments, Thomas Schneider, Consul General, Consulate of Switzerland in Lagos, said, “We are delighted that for eleven years on, this joint training program between the Switzerland Government and Nestlé Nigeria is still making impact on young people within the country, creating job opportunities.”
Inaugurated in 2011, The 18-month intensive program trains participants in machining, mechanical fitting operations, electrical operations, instrumentation operations and automation. The program culminates in the prestigious London City and Guilds technical certification with the top five graduates of each batch undergoing a further three-month internship program at a Nestlé factory in Switzerland, sponsored by the Swiss Embassy in Nigeria.
Over 160 students have benefitted from the program since its inception, with over 90% of them directly employed by Nestlé Nigeria. All the participants of batch 6, 40% of them females, successfully completed the training and the top 5 performers will be undertaking an internship and mentoring program at Nestlé factories in Switzerland in the first few months of 2023. 95% of the graduates, including Darasinmi, have been employed by Nestlé Nigeria.
Parents of the graduates, the Traditional Ruler of Agbara, and representatives of the Ogun State Government present at the event all expressed their appreciation of the value that the TTC has been adding over the past 11 years.
The Ogun State Commissioner for Education, Science and Technology, Prof. Abayomi Arigbagbu, represented by the Zonal Education Officer, Ado-Odo Ota, Mr Olugbenga Kikisuhu said, “Education is the bedrock of any meaningful social and economic development, and we all must accord education the priority it deserves. Nestlé Nigeria PLC has today taken another giant step on her journey of empowering young Nigerians for a better tomorrow by upskilling and employing the graduates. I congratulate the beneficiaries of this laudable technical training program and particularly appreciate the Management of Nestlé Nigeria PLC for her consistent contribution to educational development in the state.”
In his remarks, the Ogun State Commissioner for Youth and Sports Development, Dr. Kehinde Oluwadare, represented by Adetokunbo Salami, Director, Youth Development for the Ministry, said, “I am delighted to witness another batch of young Nigerians graduating from the Nestlé technical training program. Initiatives such as these are well aligned with the vision of the Ogun State Government on youth empowerment. I commend Nestlé for this sustained intervention which not only equips young people with relevant industry skills and expertise but is also providing economic and job opportunities.”
On his part, the Alagbara of Agbara, HRM Oba (Barr.) Lukman Jaiyeola Agunbiade, commended Nestlé for the positive impact the company is making within the Agbara community, especially in capacity development and empowerment of young people. He described Nestlé Nigeria as a valued stakeholder, and congratulated all graduates, encouraging them to maximally utilize the opportunity provided by the company.
Speaking on behalf of his colleagues, Oluwadarasinmi Adesakin, said, “We are grateful for this excellent platform created by Nestlé Nigeria for young Nigerians. The training program has been an unforgettable journey and a robust experience that has equipped my colleagues and I with knowledge, skills and core values such as integrity, leadership and accountability required to thrive in life.
We are sincerely grateful to Nestlé, the Swiss Consulate and all the partners supporting this program. I commend all my colleagues for the passion, teamwork and dedication that has enabled us to successfully complete the program.”
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
