Business
Olam Agri and GIZ Sign MoU to Scale Up Sustainable Development in Global Agriculture and Food
Olam Agri and GIZ Sign MoU to Scale Up Sustainable Development in Global Agriculture and Food
Singapore, January 20, 2025 – Olam Agri, a market leading food, feed, and fibre agri-business, has signed a Memorandum of Understanding (MoU) with German development agency Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH to scale up sustainable development in the global agri-food sector. The MoU provides a framework that will facilitate collaboration between the two partners across staple agriculture supply chains that include rice, cotton, and rubber in developing markets in Asia, Africa, and Latin America. This extends and deepens the long-standing partnership that GIZ and Olam Agri have shared over the past 15 years helping smallholder farmers become more productive, profitable, and sustainable.
Three key objectives of the MoU are to support sustainable food production at a range of scales towards climate adaptation while protecting and preserving soil health, biodiversity, and water resources; to improve the livelihoods of smallholder farmers and providing them with access to key services and inclusive opportunities; and establishing sustainability and traceability across agriculture supply chains. This is aligned with Olam Agri’s purpose to transform food and agriculture for a more sustainable and food-secure future.
For joint projects, GIZ and Olam Agri have identified six priority intervention areas: nutrition-sensitive regenerative agriculture; harvest and post-harvest loss reduction; access to finance for smallholders; economic inclusion and rights; management of crop residues and reuse; and ecosystem services, including protection and restoration of ecosystems and carbon initiatives. Both partners will continue to identify topics relevant across value chains and regions to drive innovation and scaling, with possible cross-sectoral issues including climate and carbon credits, landscape-scale approaches, and digitisation.
Sunny Verghese, Co-Founder & Group CEO of Olam Agri, said: “We’ve shared a strong and fruitful relationship with GIZ over the years during which we’ve made significant inroads in transforming smallholder farming in several supply chains across many geographies to be more productive, profitable, and sustainable. I am thrilled to be signing this MoU with such a valuable partner that is GIZ and commit to collaborate even further to scale up our sustainability programmes in developing and emerging agriculture economies.”
Anna Sophie Herken, Managing Director at GIZ said: “The signing of this MoU with Olam Agri marks a pivotal step forward in our collaborative efforts towards sustainable food production. I am very happy and grateful that we can deepen and broaden our cooperation efforts simultaneously. We look forward to enhancing the scope and impact of our successful projects in climate-smart farming.”
The MoU builds upon years of successful cooperation between the two organisations since 2008. Starting in Africa, the partnership has expanded through several key initiatives. In the rice supply chain, for example, the progress the partnership has made with the founding of the Sustainable Rice Platform (SRP) in 2011 has led to positive transformation of the sector by advancing sustainable rice cultivation. Through climate-smart methods and technologies, sustainable rice cultivation reduces usage of water and fertilisers, and consequently significantly reduces the emission of methane, a greenhouse gas contributing to global warming. Under the joint efforts of GIZ and Olam Agri, the Market Oriented Smallholder Value Chain (MSVC) rice project in Southeast Asia has improved the livelihoods of more than 28,000 smallholder farmers and their families in four years, raising their incomes by 20 per cent while reducing their ecological impact. GIZ and Olam Agri continue to engage smallholder rice farmers in Southeast Asia in large scale projects and currently also cooperate in a regional sustainable cotton project in Togo, Côte d’Ivoire, and Chad, and in sustainable natural rubber in Côte d’Ivoire and Indonesia.
Union Bank Honoured by ASBON at Nigeria National SME Business Awards
Lagos, Nigeria – Union Bank of Nigeria has reaffirmed its reputation as a strong supporter of Nigerian businesses, receiving the Best SME Growth Banking Initiatives Award for 2025 from the Association of Small Business Owners of Nigeria (ASBON) at the Nigeria National SME Business Awards, held recently in Lagos.
The award was presented to the Bank in recognition of its strategic leadership in advancing the growth and resilience of small and medium-sized enterprises, through a differentiated suite of solutions designed to enable business expansion and long-term value creation.
Receiving the award on behalf of the Bank, Ayokunnumi Abraham, Head of SME Segment at Union Bank, described the recognition as a strong endorsement of the Bank’s commitment to supporting small and medium-sized businesses. He said:
“We are honoured to receive this recognition, which reflects Union Bank’s continued commitment to helping SMEs grow by making banking simpler, faster, and more accessible. Through enhancements to our specialised platforms such as Union360, we have meaningfully reduced the time it takes for businesses to come on board and begin transacting. These improvements have shortened onboarding, increased digital adoption among our SME customers, and supported the acquisition of new business clients. Our focus remains on delivering practical solutions that help Nigerian businesses thrive.”
Organised by ASBON in partnership with the Lagos State Government through the Ministry of Commerce, Cooperatives, Trade and Investment, the event convened stakeholders from the public and private sectors to recognise individuals and organisations driving meaningful impact across Nigeria’s SME ecosystem.
Union Bank remains focused on deepening its support for SMEs through customer-led solutions and processes that strengthen business growth across the ecosystem.
Bank
Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion
*Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion*
_By AGP News
*UNITED KINGDOM OF ATLANTIS* — In a move signaling a push into international markets, the Royal Throne of the United Kingdom of Atlantis on Sunday announced the corporate transformation of Atlantian Crown Bank LLC into *Arizona Global Bank LLC*, as part of a wider restructuring to position the institution for global banking and financial innovation.
The announcement was made at a press conference in the UKA capital by *HRM Queen Amb. Cletus C. Leaticia*, Chief Executive Officer of the newly named bank. She told reporters the rebranding marks _“more than a name change”_ and reflects a strategic pivot toward digital finance, cross-border investment, and modern banking standards.
_“This transformation represents our commitment to innovation-driven banking and our vision to become a globally competitive financial institution,”_ Queen Leaticia said.
*Licensing Process Underway*
According to the Department of Financial Administration and Corporate Affairs, which issued the official communication, Arizona Global Bank LLC has formally begun the process of applying for a *Banking Operational Licence* under UKA’s financial regulatory framework.
Once licensed, the bank plans to operate as a modern financial enterprise focused on four pillars:
1. Innovation-driven banking and digital financial solutions
2. Corporate financing and structured investment services
3. International financial partnerships and cross-border trade facilitation
4. Financial inclusion initiatives
Bank officials stressed that the institution will _“maintain strict compliance with all banking regulations and supervisory standards”_ set by UKA financial authorities.
*Strategic Shift Amid Global Ambitions*
Management described the rebranding as part of a broader restructuring initiative to _“strengthen the bank’s international identity, expand its global financial footprint, and align operations with contemporary banking standards.”_
Representatives called the licensing and rebranding process a _“major milestone”_ aimed at supporting economic growth, international trade, and cross-border investment initiatives.
*No Disruption to Existing Commitments*
Addressing potential concerns from clients and partners, management reassured stakeholders that _“all existing institutional commitments, operational objectives, and long-term strategic plans remain fully intact throughout the transition process.”_
The Royal Throne indicated that further updates on the licence approval, commencement of operations, corporate partnerships, and investment programmes will be released through official UKA and Arizona Global Bank LLC channels.
_The Department of Financial Administration and Corporate Affairs, Royal Throne of United Kingdom of Atlantis, issued the official statement._
Fidelity Bank grows Gross Earnings by 45.6% for FY 2025
Lagos, Nigeria – Fidelity Bank Plc, a leading Nigerian financial institution, has announced its audited financial results for the year ended 31 December 2025, reporting Gross Earnings growth of 45.6% from N1.04 trillion in 2024 to N1.52 trillion in FY 2025, reflecting stronger topline momentum across core business segments.
The Group recorded a Profit Before Tax of N347.7 billion. This performance was underpinned by a 38.7% year-on-year increase in interest income to N1.11 trillion (FY 2024: N803.1 billion) and a 44.7% year-on-year rise in fees and commission income to N113.4 billion (FY 2024: N78.4 billion).
On the balance sheet, total assets grew by 18.6% year-on-year to N10.46 trillion (FY 2024: N8.82 trillion), while customer deposits increased by 16.1% year on year to N6.89 trillion (FY 2024: N5.94 trillion), reflecting continued franchise strength and growing customer confidence in the brand. Net loans and advances declined by 2.4% year-on-year to N4.28 trillion (FY 2024: N4.39 trillion) as customers paid down on their mature obligations.
The Bank also strengthened its capital position during the period, with eligible capital rising to N561 billion, above the regulatory minimum of N500 billion for banks with international authorisation. In addition, capital adequacy remained robust, with Capital Adequacy Ratio of 30.94 percent as at 31 December 2025 (FY 2024: 23.47 percent).
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
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