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Debtors Africa in partnership with Proshare Launches Searchable Database on Delinquent Debtors and Report on NPLs

The Debtors Africa Website is a searchable database of delinquent borrowers which enables speedy assessment of the character of a prospective customer.

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Debtors Africa – an independent searchable database of recalcitrant and delinquent debtors in Africa was launched into the market today, in addition a Debtors Report – a comprehensive analysis of the Debt/Non-Performing Loans Situation in the Nigerian Banking Industry was also presented for information.

The report which was done in partnership with Proshare, represents a culmination of a detailed review of the credit experiences of local Nigerian banks in the last two decades and reveals the challenges of a local lending cycle that has seen lenders become victims of the tyranny of bad and delinquent debtors.

The report makes a case for a new approach to the lending cycle to ensure that integrity, professionalism, and evidence-based best lending practices are strictly followed to guarantee the sustainability of the financial system and the prosperity of the larger economy.

Key highlights of the report include:

  • The Industry & its Debt Position
  • Definition of a delinquent debtor and how this has changed over the years including how banks end up with bad debtors
  • The Sectors & Regions affected & Impact on GDP
  • Provisions of the law as regards credit collection and recovery in Nigeria
  • The AMCON approach, lessons learnt, and the way for banks to adopt a revised credit recovery framework
  • Case Study of approaches adopted in recovering debt; and
  • Fresh methods a New Approach offers to banks troubled by delinquent debts

The Full Report is available on www.debtorsafrica.com  

The Debtors Africa Website is a searchable database of delinquent borrowers which enables speedy assessment of the character of a prospective customer. Of equal importance is that investors can use the database as a starting node for assessing the quality of the management of a business they intend to either partner or invest in.

The searchable database is designed to allow contributors such as Banks, Loan FinTech and Credit companies, Cooperatives, Tax authorities, Private businesses, government agencies, utility providers, etc. list their delinquent debtors and their indebtedness on the platform as a contributor to the platform. With this listings, a moral and business burden is placed on delinquent borrowers as prospective lenders would use the library to fact-check the borrowing history of a loan applicant and use the history to set up a character rating index that would guide credit appraisal memorandums (CAMs) and inform acceptance or decline of credit requests.

By subscribing to the platform which is free, users are able to:

  1. Search for Delinquent Debtors in Africa using the Company Name or the name of the Directors of a company
  2. Track the repayment progress of a delinquent debt and other related information to the Debt
  3. Receive and Monitor Credible and Reliable information on Debt Related Activities in Africa
  4. Mine Delinquent Debtors Data by Sector, Amount Owed, and more

Over the years, the names of delinquent debtors have been published on various media platforms with no central portal to harness the information published or achieve the objective creditors desire, which is repayment and resolution. With DebtorsAfrica, the new model provides a central hub to access this information and goes beyond naming and so-called “shaming” to informing prospective creditors and other institutions that require character validation, while name removal from the database is subject to the review and removal by the contributor after debt resolution is attained.

Unlike the days when banks published their delinquent debtors list on online digital  platforms in which they had no control of content update, modification and removal , the DebtorsAfrica platform puts the burden on creditors who are expected to take the action of delisting themselves further to showing proof of resolution, such that it also serves as an independent check on contributors who may choose to delist a debtor based on mutually agreed terms of settlement .

The emerging global economy requires more credit but it also requires more confidence in the credit-to-debt-to-credit loop. The stronger the integrity and the deeper the financial resources that support the loop the better the financial system and economy becomes. The spread of the digital economy, big data, artificial intelligence and informatics will lead to new approaches of credit evaluation, initiation, monitoring, and recovery.

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Sigma Pensions

For any enquiry, kindly call 0700DEBTORS (+234-700-332-8677) or send an email to: [email protected] or [email protected]

You can also connect with us on Facebook, Twitter, LinkedIn and Instagram

Kindly download the Executive Summary HERE and the FULL REPORT HERE


EDITOR’S NOTE: This is a sponsored content.

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NM Partners represent articles published in paid partnerships with corporate organisations. They include press releases, targeted content, and other forms of corporate communications on behalf of our Paid Partners.

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Leadway Pensure PFA bags Customer Service Excellence award at Africa Brands Awards 2021

Leadway Pensure’s award reaffirms its commitment over the years to giving its clients amazing experiences beyond the call of duty.

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Leadway Pensure PFA Limited, Nigeria’s foremost pension funds administrator, has been recognized as the most admired pension brand in Nigeria following its emergence as the winner of the Customer Excellence Award at the 2021 edition of the Africa Brands Awards.

The prestigious African Brands Awards was created over a decade ago to promote innovation and creativity amongst African brands across different industries. The emergence of Leadway Pensure as the winner of the Customer Service Excellence award in the pension category reaffirms the brand’s customer-centricity and its commitment over the years to giving its clients amazing experiences beyond the call of duty. The recognition comes at a crucial period in the pensions industry with the opening of the transfer window which allows customers move their retirement savings account from their existing PFA to another.

Still on the recognition, the Managing Director, Leadway Pensure PFA Limited, Mrs. Ronke Adedeji, stated that receiving the award was a testament to how the brand had treated its clients and the positive perception it had been able to create in the larger society. According to her, “Our clients are at the center of everything we do, hence, we are constantly innovating and finding new ways to better their experiences with us. We continue to blaze the trail in the industry by finding simple and smarter channels to deliver our services; and optimizing our processes. We are a firm believer that if truly we must assist our clients to get more out of life, we must also continuously explore effective and efficient ways of delivering pension services.”

Mrs. Adedeji hinted that the company invested heavily in digital channels aimed at easing tracking, reporting, and communicating with its clients. “In addition to our long-standing heritage of excellence and competitive returns on investments, we prioritize accessibility for our clients by launching online channels to connect with them. Some of the online channels include our Online Enrolment Portal that allows users to remotely open a Retirement Savings Account (RSA) and get their RSA PIN instantly, our Mobile App, Interactive SMS, Pensure Online (p-Online), SureCal (Pensure Calculator), amongst others. We are unwavering in our promise to all existing and potential clients to continuously offer pension plans and experiences that surpass their expectations,” Mrs. Adedeji said.

It is important to note that the company also recently received the ISO 27001 certification, a globally coveted standards certification that recognizes commitment to the highest standards of information data security management.

Leadway Pensure has, over the years, shown itself as one of the leading PFA’s in Nigeria. It continues to advance the PFA industry by devising unique ways to service the ecosystem and deliver value to all stakeholders. Leadway Pensure is one of the most capitalized PFA’s in Nigeria with an authorized share capital of N2.0 Billion. Our shareholder’s fund is in excess of N7.0 Billion, unimpaired by losses.

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ITA partners NEPC to launch first E-Lab Innova training for agribusinesses in Nigeria

The E-Lab Innova is an educational training program for the agri-food sector in Nigeria.

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As part of its commitment to boost trade relationships with Nigeria, the Italian Trade Agency, a governmental agency that supports the business development, partnerships and collaborations between Italian companies and their local counterparts, has launched the first E-Lab Innova in Nigeria. The E-Lab Innova is an educational training program for the agri-food sector in Nigeria which will be implemented in collaboration with the Nigerian Export Promotion Commission (NEPC) alongside other Italian partners, such as MACFRUT, a leading exhibition for the agribusiness industry.

The training is aimed at increasing the technical and managerial skills of Nigerian agri-food companies in order to support their access to EU markets and foster business partnerships with Italian companies. Participants which were selected with the support of NEPC are CEOs of high-potential companies active in the production of foods such as mango, pineapple, shea nuts and groundnuts. The programme is scheduled to hold for the duration of five weeks and will be implemented in three phases: a preliminary assessment to analyze the technical and management training requirements, company potential and profile design; 2-week webinar training classes focused on key internalization topics and a 5-days study tour in Italy, which will include Macfrut exhibition.

Giving his opening remark at the event held to flag off the training, the Italian Trade Agency Director for West Africa, Dr. Alessandro Gerbino said, “Nigeria remains a strategic point for engagement between the agency and other countries across West Africa. The E-Lab Innova holds prospects for Nigerian companies to be imparted on the knowledge and technicalities of their counterparts abroad whilst also paving the way for collaborations between Italian and Nigerian agribusinesses.”

“It is a pleasure to see the collaboration between the Italian Trade Agency (ITA) and the Nigerian Export Promotion Council (NEPC), to develop the capacity of agribusinesses and aid their integration into the value chain of European Union markets. We remain committed to supporting the government’s plan to create more jobs through the agrofood industry and ensure that these businesses have the right skillset to grow, sustain their operations and contribute to the growth of Nigeria’s economy,” Dr. Gerbino added.

In her keynote address, Uduak Etokowoh, Deputy Director, International Export Offices, Nigerian Export Promotion Council (NEPC), said, “the council constantly seeks out collaborations like this to strengthen trade relations across the world. The European Union (EU) is one of the largest markets for agribusiness, however, challenges such as logistics and inability to meet market needs pose a threat to growth opportunities. In adjusting to the new normal of virtual engagements, we are extremely delighted to partner the ITA to deliver this virtual training in support of wealth creation for the economy and to enhance seamless penetration to the EU markets for Nigerian agribusinesses”.

13 agribusinesses across Nigeria took part in the first training session including United Agro Cooperative Society Limited, Cobrend Trading and more; the programme will involve nearly 40 Nigerian companies in total. Since the launch of Lab Innova in Africa, over 140 companies across Ghana, Angola, Mozambique, Uganda and Ethiopia have successfully gone through the training programme, with study tours and exhibitions held in Italy.

About the Italian Trade Agency in Nigeria

ITA – Italian Trade Agency is the Governmental agency that supports the business development of Italian companies abroad and promotes the attraction of foreign investment in Italy. With a motivated and modern organization and a widespread network of overseas offices, ITA provides information, assistance, consulting, promotion and training to Italian small and medium-sized businesses.

The agency is committed to establishing strong contact with Nigeria with a major focus on industrial technologies that address the growth pattern Nigeria has adopted in several areas, so to add value to local natural resources and raw materials.

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Sigma Pensions

Using the most modern multi-channel promotion and communication tools, it acts to assert the excellence of Made in Italy in the world. ITA operates in 70 countries under the Italian Embassy.

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