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Wema Bank and enza group Join Forces to Boost Ecommerce Payment Acceptance

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Wema Bank and enza group Join Forces to Boost Ecommerce Payment Acceptance

Wema Bank and enza group Join Forces to Boost Ecommerce Payment Acceptance

enza’s innovative Payment Orchestration will enable Wema Bank to provide secure and reliable payment options at a reduced cost.

 

 

enza, the acclaimed new disruptor in the African payments market today announced its strategic partnership with Nigeria’s most innovative bank, Wema Bank. Through this partnership, enza will engineer its innovative payment orchestration solution to expand Wema’s ecommerce payment capabilities, thereby improving the quality of service to merchants, enhancing payments security, increasing service reliability, and significantly reducing operating costs through transaction optimization.

Wema Bank and enza group Join Forces to Boost Ecommerce Payment Acceptance

 

 

Wema Bank, renowned for its forward-thinking approach and commitment to innovation, will leverage enza’s payment orchestration capability to further enhance the bank’s existing ecommerce payment services. Wema Bank is the pioneer of Africa’s first fully digital bank, ALAT, and is also one of Nigeria’s most renowned banks. This alliance is a further step in the bank’s digital transformation journey, reinforcing their position at the forefront of payment innovation in Nigeria.

The enza payment orchestration service will offer an array of benefits to Wema customer businesses and individuals alike merchants will gain access to an improved suite of payment processing features, enabling them to accept a wider range of payment options, including all payment cards, e-wallets, and more. The streamlined and resilient payment processes will ensure quick and hassle-free transactions, enhancing the overall customer experience for those making and accepting payments.

enza has been creating ripples in the industry since its inception late last year. “Our mission is to simplify payments across the region, thereby enabling seamless and secure transactions across the Middle East and Africa,” said Hany Fekry, the CEO of enza. “This new partnership with a premier Nigerian bank further accelerates our progress towards that goal.”

Wema Bank’s Executive Director of Retail and Digital Business, Tunde Mabawonku, says the innovation will empower the Bank’s clientele to embrace a wider spectrum of payment alternatives, encompassing diverse payment cards, e-wallets, and more. In his view, the streamlined and resilient payment processes will ensure the swift and hassle-free completion of transactions, thereby enriching the holistic customer experience for both payment initiators and recipients.

Divisional Head, Payment Business, Wema Bank, Damola Bolodeoku, emphasizes the harmonious alignment between this partnership and the Bank’s overarching strategy of continual innovation and service enhancement. Bolodeoku affirms, “As an establishment that takes pride in its role as a digital frontrunner within the banking sector, we are enthralled to synergize with enza Group to introduce a revolutionary ecommerce payment gateway solution. Through this synergy, we ardently anticipate amplifying our ecommerce payment capacities and delivering heightened value to our customers through all avenues.”

In a region where digital payment technologies are rapidly evolving, this partnership provides both enza and Wema Bank a platform to redefine the ecommerce payment landscape. The bank and their customers will benefit from increased security, top-tier service reliability, and most importantly, significantly reduced costs.

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UBA, ICAN Partner to Drive Innovation, Excellence in Finance and Accounting

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UBA, ICAN Partner to Drive Innovation, Excellence in Finance and Accounting

Africa’s Global Bank, United Bank for Africa (UBA) Plc on Friday, hosted the 60th President of the Institute of Chartered Accountants of Nigeria (ICAN), Chief Davidson C. S. Alaribe, FCA, in a meeting aimed at fostering collaboration and innovation between both institutions.
The meeting signalled a pivotal moment in the relationship between the two institutions, as they explored strategic partnerships aimed at driving mutual growth and development in the financial and accounting sectors.
UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who welcomed the ICAN President and his high-profile delegation, expressed his enthusiasm for the partnership and assured that the bank is ready and willing to support the institution in its drive for excellence.
He said, “UBA is proud to be home to a significant number of ICAN members, whose expertise has been instrumental to our success as Africa’s global bank. This visit reaffirms our shared commitment to excellence and innovation.
Continuing, Alawuba stated, “We are particularly excited about potential collaboration in the Graduate Management Accelerated Programme (GMAP), training initiatives, and other business opportunities that will create a win-win for both organisations.”
The delegation had distinguished members of the institute’s council and executive team, including Immediate Past President of ICAN; Mr. Oladele Nuraini Oladipo, FCA, ICAN Council Member;  Dr. Oluseyi Oladimeji Olanrewaju, FCA, ICAN’s Honorary Treasurer; Mr. Biodun Adedeji, FCA, ICAN Council Member; and Dr. Lanre Olasunkanmi, FCA,  Registrar/Chief Executive of ICAN.
Alaribe who was visibly excited at the corroboration between both organisations, said, “UBA is not just a financial powerhouse in Nigeria but a global leader with a strong presence across Africa and beyond. ICAN recognises the immense value UBA brings to the table, and we are excited to explore opportunities for collaboration in areas such as capacity building, professional development, and business expansion. This partnership will undoubtedly benefit our members and the broader financial ecosystem.”
The discussions also focused on several key areas of collaboration in capacity building, Joint training programmes to enhance the skills of accounting professionals and UBA staff, collaborating on initiatives to promote ethical standards, financial literacy, and best practices in accounting and finance and setting up a branch of ICAN at the UBA House.
This historic meeting marks a significant milestone in the relationship between UBA and ICAN, two institutions committed to driving excellence and innovation in the financial and accounting professions. Both parties expressed optimism about the future and pledged to work closely to achieve their shared goals.
The Institute of Chartered Accountants of Nigeria (ICAN) is the leading professional accounting body in Nigeria, established to regulate the practice of accountancy and promote excellence in the profession. With over 50,000 members, ICAN is dedicated to advancing the science of accountancy and fostering ethical standards in the industry.
United Bank for Africa is Africa’s Global Bank. Operating across twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology. UBA is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally.
UBA, ICAN Partner to Drive Innovation, Excellence in Finance and Accounting

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DESPERATE NIGER BEGS NIGERIA FOR FUEL AMID CATASTROPHIC SHORTAGE!

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DESPERATE NIGER BEGS NIGERIA FOR FUEL AMID CATASTROPHIC SHORTAGE!

DESPERATE NIGER BEGS NIGERIA FOR FUEL AMID CATASTROPHIC SHORTAGE!

Nigeria Rescues Its Defiant Neighbor as Fuel Crisis Spirals Out of Control

Abuja/Niamey – March 15, 2025 – In a stunning turn of events, Niger Republic has turned to its long-estranged neighbor, Nigeria, for help after being crippled by a catastrophic fuel shortage. Despite months of diplomatic tensions, hostile rhetoric, and even allegations of sabotage, Niger’s military junta has been forced to swallow its pride and beg Nigeria for emergency fuel supplies to prevent total economic collapse.

Sources reveal that a high-powered delegation from the junta rushed to Abuja in a desperate plea for assistance. The outcome? A staggering 300 truckloads of Premium Motor Spirit (PMS) approved for immediate delivery—a move insiders say Nigeria is leveraging as a “strategic bargaining tool” in negotiations to pull Niger back into the ECOWAS fold.

Niger’s Fuel Nightmare: Prices Soar to Unthinkable Heights

With its economy in free fall, Niger’s fuel crisis has reached nightmarish levels. Reports indicate that petrol prices have skyrocketed to an eye-watering N8,750 per liter in some areas—forcing citizens into dire straits. Border towns, once lifelines for smuggled Nigerian fuel, have been left paralyzed.

A Nigerian transborder businessman, Mallam Abubakar Usman, described the situation as “beyond critical,” revealing that in the border town of Konni, fuel sells for 1,200 CFA (N2,500 per liter), while in Agadez, prices soar to 3,000 CFA (N7,500 per liter). The situation is even grimmer in Arilit, near Algeria, where a single liter costs an unbelievable 3,500 CFA (N8,750).

How Niger’s Junta Backfired on China—And Paid the Price

Niger’s woes, experts say, are self-inflicted. The junta’s reckless confrontation with Chinese oil giants has backfired disastrously. After securing a $400 million advance from the China National Petroleum Corporation, Niger found itself unable to repay. But instead of negotiating, the junta took a hardline approach, slapping an outrageous $80 billion tax demand on Soraz (Zinder Refinery Company), despite owing $250 billion to Chinese oil firms.

China’s response was swift and brutal. It shut down operations, expelled Nigerien officials, and froze accounts, effectively collapsing Niger’s petroleum sector overnight. The Soraz refinery—a lifeline for fuel supplies—ground to a halt, plunging the country into chaos.

Yet, despite the junta’s blunders, Niger remains too proud to admit its dependency on Nigeria. Reports indicate that Niger’s state-controlled media has deliberately avoided acknowledging Nigeria’s critical intervention, instead painting the fuel supply as an internal success.

Nigeria: The Unexpected Savior?

Despite Niger’s earlier accusations that Nigeria was plotting against it, President Bola Tinubu’s administration has chosen to rise above past animosities and extend an olive branch. The silent fuel deal, orchestrated behind closed doors, is more than just humanitarian aid—it’s a masterstroke in diplomatic strategy.

A senior Nigerian government official revealed: “We do not want to blow our trumpet. Rather, we want to use this as leverage to bring them back into ECOWAS. The truth is, they simply do not have the resources to sustain themselves without us.”

Nigeria’s Oil Industry: Strong Enough to Bail Out Niger?

Oil marketers and industry experts confirm that Nigeria has the capacity to shoulder Niger’s crisis without disrupting its own economy. With the Dangote refinery, the Port Harcourt refinery, and additional imports, Nigeria remains a dominant force in West African energy.

Billy Gillis-Harry, President of the Petroleum Products Retail Outlet Owners Association of Nigeria, confirmed that the country has ample resources: “If we have a diplomatic reason for this, it is completely doable.”

Will This Lifeline Bring Niger Back to ECOWAS?

While Niger’s military rulers have yet to acknowledge Nigeria’s help, the reality remains—without Nigeria, Niger’s survival is at stake. This fuel crisis has exposed the junta’s vulnerability, forcing it to rely on the very country it once accused of betrayal.

As Nigeria continues its strategic maneuvering, one question lingers: Will Niger finally come back to the ECOWAS fold, or will it gamble on further isolation?

 

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The Tony Elumelu Foundation Set to Announce 2025 Cohort of TEF Entrepreneurship Programme

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The Tony Elumelu Foundation Set to Announce 2025 Cohort of TEF Entrepreneurship Programme

Tony Elumelu Entrepreneurs have collectively created 1.5 million jobs and generated $4.2 billion in revenueOver 2 million Africans lifted out of poverty. 

 

The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy empowering entrepreneurs is set to announce the 11th cohort of the TEF Entrepreneurship Programme on Saturday, March 22, 2025.

The 2025 announcement comes at a critical time, as Africa’s entrepreneurship ecosystem faces funding constraints and global economic headwinds. TEF continues to provide much-needed support, empowering African entrepreneurs to transform their ideas into sustainable businesses and engines of economic growth.

Each selected Tony Elumelu Entrepreneur will receive $5,000 non-refundable seed capital, a world-class business training on TEFConnect, one-on-one mentorship, and access to global networks and investment opportunities. The selection process is being conducted by Ernst & Young, to ensure independent assessment.

The impact of the Tony Elumelu Foundation extends beyond funding. It is changing lives and shaping Africa’s future, as witnessed by beneficiaries of the catalytic TEF Entrepreneurship Programme.

The Tony Elumelu Foundation Set to Announce 2025 Cohort of TEF Entrepreneurship Programme

Ahead of the upcoming announcement, Tony O. Elumelu, C.F.R., Founder of TEF and Group Chairman of Heirs Holdings, reiterates his unwavering belief in the potential of Africa’s entrepreneurs:

“I believe that Africa’s transformation will not be led by aid, but by empowering the next generation of African entrepreneurs—giving them the tools, the funding, the training, and the networks to build sustainable businesses that create jobs and drive economic growth.

Over the past decade, we have nurtured entrepreneurs from inception to success, scaling our impact across all 54 African countries. We have provided capital and also developed a robust monitoring and evaluation framework that allows us to track the progress of our entrepreneurs and measure their contributions to their communities and economies.

No other organisation is implementing entrepreneurship development at this scale across Africa. We have learned, we have refined, and we continue to improve, ensuring that African entrepreneurs—women and men—are at the forefront of solving our continent’s challenges and creating wealth for themselves and their communities. Entrepreneurship is the key to Africa’s prosperity. I wish the 2025 cohort of Tony Elumelu Entrepreneurs success, as they chase their ambitions, and play their part in Africa’s transformation.”

The Tony Elumelu Foundation is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries and ensuring inclusive economic empowerment.

Since the launch of the Tony Elumelu Foundation Entrepreneurship Programme in 2015, TEF has lifted over 2 million Africans out of poverty, provided 2.5 million young Africans with access to training on TEFConnect, and disbursed more than $100millon in direct funding to thousands of African entrepreneurs who have gone on to create over 1.5 million direct and indirect jobs and generate over $4.2 billion in revenue.

 

For more details on the Tony Elumelu Foundation’s impact visit our Impact Page, African Success Stories Page, and Annual Report Page.

For Media Inquiries: media@tonyelumelufoundation.org

 

Tony Elumelu Entrepreneur Testimonials from Previous Years:

“I started my agribusiness with nothing but an idea. TEF changed everything. With the funding, training, and mentorship, I have now expanded across three countries and employ 25 people.”

– Fatima Diallo, Senegal, Agritech Entrepreneur

“As a woman in the fintech industry, it was difficult to secure funding. TEF not only provided me with capital but also the confidence and skills to build a business that is now attracting international investors.”

– Mary Okeke, Nigeria, Fintech Founder

“The TEF Entrepreneurship Programme helped me commercialise my clean energy innovation. Today, we provide solar solutions to over 50,000 homes in rural Tanzania.”

– Juma Nyerere, Tanzania, Renewable Energy Entrepreneur

 

For more details on the Tony Elumelu Foundation’s impact visit our Impact Page, African Success Stories Page, and Annual Report Page.

For Media Inquiries: media@tonyelumelufoundation.org

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