News
Stanbic IBTC Pension to Reward Customers
Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings Plc, says it has launched its 2021 loyalty programme tagged ‘Umatter’, through which its customers will enjoy discounts at its partner-merchant locations.
According to a statement, the programme seeks to reward the customers’ loyal customers for their patronage over the years.
It said, “They stand a chance of getting discounts ranging from five to 12 per cent at various merchant stores by presenting this e-loyalty card.
‘Some of the merchant stores or locations where the PFA’s clients can get discounts include Maybrands, Café Royale, Hubmart Stores, Chocolate Royal, La Campagne Tropicana, Physio Centers of Africa, Medplus, iStore, Launderland Drycleaners, Oriki Spa and Active Leisure.”
While commenting on the campaign, the Chief Executive, Stanbic IBTC Pension Managers, Olumide Oyetan, said the loyalty programme was aimed at appreciating the organisation’s clients while supporting their lifestyles.
He said, “We are happy to express our appreciation to our customers and thank them for their long-standing support using this loyalty programme.
“As Nigeria’s leading PFA with over 1.8 million clients, we remain committed to supporting and rewarding them for their patronage in every way we can.”
According to Oyetan, only customers of Stanbic IBTC Pension Managers can access the loyalty card.
He urged prospective customers to take advantage of the transfer window to sign up with Stanbic IBTC Pension Managers to make them eligible to participate.
“We are committed to the wellbeing of our customers through the provision of customer-centric products and services. This initiative is one of many to come,” he said.
EFCC
The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.
The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.
Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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