Business
UBA Foundation Takes its Read Africa Initiative East
The United Bank for Africa (UBA) Plc, through its Corporate Social Responsibility arm, the UBA Foundation, continued on its quest to educate and empower African youths as it visited Our Lady of Mercy Girls Secondary School in Nairobi to donate over 500 copies of the book The Fishermen(by Chigozie Obioma), under the UBA Foundation’s Read Africa Initiative.
The initiative which was launched in 2011 with the aim of encouraging students to improve their vocabulary and communication skills through reading, has been changing the lives of African students across the continent for six years. Through the initiative, the UBA Foundation is helping rekindle the dwindling reading culture amongst African youths as they pursue their education. Over a hundred thousand books and educational materials have been donated to various schools across Africa as UBA Foundation continues to traverse the continent, contributing positively to the development of African youths.
This week, the foundation visited Emma High School in Kampala, Uganda with its Read Africa initiative before going to Kenya to read to the students at Our Lady of our Mercy School. The High school for girls which was founded in 2008 by Mrs Angwenyi with just 32 girls has grown into a student body of over 500 with donations from both private individuals and the Kenyan Ministry of Education. The school started off with girls who were very under priviledged and living in conditions that were not conducive to education. Less than a decade later, some of these students have gone on to Universities to pursue their dreams.
Present at the drive were the CEO of the UBA Foundation, Bola Atta, UBA Kenya MD/CEO Isaac Mwige, the school principle Mrs Angwenyi and the students who got an opportunity to interact and read with the UBA Executives, sharing their future aspirations and ambitions as they engaged Executives in a Q& A session.
Atta, told the students that the UBA Foundation was committed to uplifting the lives of the societies within which they operated by creating dynamic educational platforms for future generations on the continent. She also encouraged the students to read voraciously. “The pursuit of knowledge should be a lifelong activity that starts at a very young age. You should read all types of books so that you can explore and shape your own narrative,” she said.
UBA Managing Director/CEO Isaac Mwige further encouraged the students to cultivate an interest in reading not just the academic text books but also material outside of their course work in order to acquire knowledge. “Everything you read fills your head with new bits of information, and you never know when it might come in handy. The more knowledge you have, the better-equipped you are to tackle any challenge you’ll ever face,” he added.
The Principal of Our Lady of Mercy Girls Secondary School Mrs. Angwenyi thanked the UBA Foundation for their contribution and said that it was very timely as the school is currently placing emphasis on the value of reading not just to prepare for exams but reading to prepare for life. ‘What UBA Foundation has brought to you today is worth more than money. The drive today will ensure that you all understand that reading is an essential part of living’ she said.
The Kenyan Ministry of Education’s Chief Education Officer who was also present applauded the initiative saying: ’books allow us to expand our minds and enables us to keep abreast in all fields of human endeavor. The Students of Our Lady of our Mercy will benefit greatly from reading the books donated by UBA Foundation today’
The UBA foundation donated books to the school library of Our Lady of Mercy and funding to pay for the accommodation of ten girls at the school dormitory.
United Bank for Africa (UBA) Plc, Africa’s global bank, is committed to being a socially responsible company and role model for all businesses in Africa. UBA understands that there is a need for a social contract between the bank, the communities in which it operates, and its people. To this end, in 2006, UBA became the first bank in Nigeria to institute a foundation, the UBA Foundation. As the Corporate Social Responsibility arm of the UBA Group, UBA Foundation is committed to the socio-economic betterment of communities across the African continent focusing on development in the areas of Environment, Education, Economic Empowerment and Special Projects.
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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