FirstBank Hosts Inaugural China-Africa Interbank Association Forum; reiterates its commitment to promoting trade, financial cooperation and Economic Development.

FirstBank, the premier West African financial institution and financial inclusion service provider has announced its hosting of the first-ever China-Africa Interbank Association (CAIBA) Forum to strengthen economic ties and investments between China and Africa. The forum, themed “Joining Hands to Advance Modernisation and Strengthening China-Africa Trade, Industrialization and Economic Diversification,” will take place on November 27, 2024, at the Fraiser Suites Abuja.

Established in 2018, CAIBA marked a significant milestone in fostering financial cooperation between China and Africa, comprising 16 African banks, including FirstBank, and China Development Bank (CDB) as well as ABSA Bank, West African Development Bank, Central African States Development Bank, Eastern and Southern African Trade and Development Bank, Development Bank of South Africa, Ecobank, United Bank for Africa, RawBank with the aim to enhance partnerships in various spheres, such as infrastructure interconnection, international cooperation, and cultural exchange. This initiative was driven by the need to address the funding gap in Africa for industrialization, infrastructure, and poverty alleviation.

The CAIBA Forum which will be co-hosted by China Development Bank offers a unique opportunity for knowledge sharing, networking and deal making, for the purpose of fostering a win-win cooperation and promote joint development among member-banks. Formerly convened only in Beijing, the Forum will now provide a unique platform to spotlight Nigeria’s pivotal role in the growing China-Africa economic relationship as the host country.

Intrinsically woven into the fabric of the society and with its extensive network across Sub-Saharan Africa, UK, and China, FirstBank provides unparalleled access to markets, to facilitate trade and investment flows between China and Africa.

Additionally, FirstBank’s expertise in financial inclusion, trade finance, corporate and investment banking positions it as an ideal partner with China Development Bank with key strengths in inclusive and sustainable financial solutions in driving this important initiative to support Chinese and African businesses.

Speaking about the forum, the CEO of FirstBank Group, Mr. Olusegun Alebiosu, said, “We are honoured to host this pivotal event that fosters dialogue and collaboration between Chinese and African financial institutions. This forum reinforces our commitment to bridging the gap between Africa and China, catalyzing economic growth and development. The selection of FirstBank as the host is a testament to our rich legacy, deep expertise in African markets, and an impressive 130-year history of empowering businesses and communities to thrive. We are proud to support the continent’s economic transformation and growth and remain dedicated to exploring the partnership opportunities this forum will bring for the mutual benefit of China and Africa.”

Participants will have the chance to engage with government officials, business leaders, and financial experts from both regions. Expected guest speakers include His Excellency, the Vice President of Federal Republic of Nigeria, the Governor of the Central Bank of Nigeria, Minister of Trade, Industry & Investment, MD of China Development Bank, Federal Capital Territory (FCT) Minister, Governors of Lagos, Kano and Anambra States; Ambassadors from countries of CAIBA members, President and Chairman of the Board of Directors of the African Export–Import Bank, Representatives from the China-Africa Development Fund, and many industry leaders, policymakers, and experts to explore opportunities for cooperation and mutual growth.

In addition, the CAIBA Forum will feature a plenary session which include Dr. Abiodun Adedipe – Founder & Chief Consultant BAA Consult, David Ofosu-Dorte – Senior Partner, AB & David Africa, A Pan-African Law Firm, Ugo (UgoDre) Obi-Chukwu – Publisher Nairametrics, Wole Adeniyi- CEO, Stanbic IBTC, Bamidele Abu- CEO, ABSA Nigeria Capital Markets, Mrs Kouassigan Dovi Eliane Khady – Head Financial Institutions West African Development Bank (BOAD). Other exciting line-ups include a trade exhibition, keynote speeches, and networking events that will explore the latest trends and opportunities in China-Africa cooperation.

The establishment of CAIBA is a positive development that has the potential to significantly impact the economic landscape, actively shaping economic future and fostering partnerships that drive sustainable growth and prosperity of both China and Africa.

UBA, Mastercard Introduce 75th Anniversary Card with Exclusive Benefits, Discounts

As part of activities to mark its 75th anniversary, Africa’s Global Bank, United Bank for Africa (UBA) Plc, has teamed up with Mastercard to introduce a special commemorative Debit Card.

This exclusive card offers UBA customers exciting deals and attractive discounts across multiple platforms, enhancing their banking experience in a memorable way.

The commemorative card which was unveiled at the bank’s corporate head office in Marina, Lagos, on Wednesday, is a custom-built card created with the intention of appreciating customers and other users for their loyalty throughout the seven and half decades of impactful journey.

UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who spoke at the unveiling, emphasised that the card, comes loaded with irresistible benefits aimed at impressing customers, including 25% off purchases on Jumia and $75 cashback on transactions made through AliExpress.

This according to him, symbolizes the shared vision between UBA and Mastercard towards empowering Africans by enhancing customer experience through secure and convenient transactions.

He said, “This new card represents the deepening of our relationship and our shared mission to empower millions of Nigerians and Africans, providing them with access to secure transactions and new opportunities across the continent.

The GMD also disclosed the bank’s plans to unveil similar products across all its subsidiaries, adding, “We are proud of this collaboration, and we are confident that Mastercard’s role in Africa will only grow stronger in the coming years.”

The President, Africa, Mastercard, Mark Elliot, who expressed gratitude to the management of the bank on the partnership, emphasised the importance and potential of the partnership with UBA.

“We are thrilled to be partnering with UBA, which we know is one of the best banks in Africa. For us, it is a privilege to work with a partner that shares our commitment towards digitizing the continent and enhancing customer experience through secure and convenient transactions.”

Elliot who noted the immense opportunities in the African payment ecosystem, said the organisation looks forward to exploring them with UBA. “Africa is currently one of the most attractive payment markets worldwide, and it’s clear that by 2030, the continent will likely become the fastest-growing equity market,” he said.

“Meeting the UBA management is always inspiring, as we always come up with bold and strategic ideas, and today is no exception. We are excited to match our shared ambitions,” Elliot stated.

United Bank for Africa Plc is a leadi

ng Pan-African financial institution, offering banking services to more than thirty-five million customers, across 1,000 business offices and customer touch points in 20 African countries. With presence in New York, London, Paris and Dubai, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.

FirstBank Host Fintech Summit 6.0, Launches Fintech Innovators Pitch Programme

Lagos, Nigeria – November 6. FirstBank, the premier West African financial institution and financial inclusion service provider is excited to announce its 6th annual Fintech Summit, themed “Banking on Partnerships,” scheduled to hold on November 13 and 14, 2024. This year’s edition will bring together renowned subject matter experts, innovators, and industry leaders from around the world to explore the latest trends and advancements in financial technology.

Since its inception in 2016, the FirstBank Fintech Summit has established itself as a premier event, attracting top subject matter experts in digital innovation from Nigeria and around the globe. While the Summit transitioned online in 2020 due to the COVID-19 pandemic, this year’s event will be hosted as a hybrid affair, enabling participants from around the world to engage with renowned speakers and insightful discussion.

A key highlight of this year’s summit is the launch of the Fintech Innovators Pitch Programme, designed to empower early-stage fintech startups and cultivate innovation within the financial services ecosystem. Selected startups will benefit from intensive training and mentorship, culminating in an opportunity to pitch their groundbreaking solutions to FirstBank, prominent investors, and industry experts.  Winning Startups will receive essential support from FirstBank to propel their products to market, including strategic guidance, resources, and access to a vast network.

The FirstBank Fintech Summit 6.0 promises a dynamic lineup of sessions and invaluable networking opportunities, positioning it as a must-attend gathering for industry leaders and innovators. The two-day Summit will feature expert keynote addresses and panel discussions, regulatory roundtable, investor roundtable, fireside chats and masterclasses.

Emmanuel Daniel, the founder of TAB Global—a research, publication, and consulting firm known for platforms like The Asian Banker, Wealth and Society, The Banking Academy, and TAB Insights—will be a key speaker at the upcoming event. He will be joined by Olusegun Alebiosu, the Managing Director and CEO of FirstBank Group, along with a lineup of distinguished guest speakers and panellists which include Dr. (Mrs) Markie Idowu, GMD/CEO of Xpress Payment Solutions Limited; ’DeRemi Atanda, Managing Director of Remita; Tomilola Majekodunmi, Co-Founder and CEO of Bankly; Obi Emetarom, Co-Founder and CEO of ZONE; Oladipo Alabede, Regional Managing Director, West Africa (Acquiring) Network International; Obianuju Odukwe, VP of Digital & API Ecosystems at Interswitch Group; Ashley Immanuel, Co-Founder and COO of SemiColon; Chijioke Dozie, Co-Founder of Carbon; Yewande Sulaiman, Managing and Product Consultant at ProduqtEdge.

With its hybrid format, participants from around the world can access the same quality of discussions and speakers. To register for the Fintech Summit, interested participants can click on https://fintech.firstbanknigeria.com/#/?lang=en

Speaking on the Summit, the CEO FirstBank Group, Olusegun Alebiosu said “This year’s summit provides a platform to unite industry leaders, innovators, regulators, and thought leaders to explore how collaboration and partnerships can shape the future of financial services and technology. As FirstBank continues to lead in innovation, this event presents another unique opportunity to engage with key stakeholders and deepen our understanding of emerging trends in the Fintech landscape emphasizing our role not only as a participant but also as a leading and preferred partner in the Fintech domain.”

The FirstBank Fintech Summit is one of the initiatives that the Bank has established to drive innovation and foster growth in the financial technology sector. By bringing together thought leaders and disruptors in the field, the Summit serves as a catalyst for transformative ideas and collaboration.