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Corporate Press Releases

Access Bank’s W Initiative & Lagos State Government to empower female entrepreneurs

The “LSETF- W Initiative loan” is a financing scheme for female traders/MSME’s operating in Lagos state regardless of their state of origin.

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Female entrepreneurs now have more reasons to smile and succeed with a discounted financing solution known as the “LSETF-W Initiative Loan” specially created by the Access Bank W Initiative program in partnership with the Lagos State Employee Trust Fund (LSETF) to provide low-interest loans for female businesses to flourish in the state.

The “LSETF- W Initiative loan” is a financing scheme for female traders/MSME’s operating in Lagos state regardless of their state of origin. This means applications from non-indigenes who are resident in Lagos and own at least 50% ownership in either start-ups, micro-enterprises, or small and medium enterprises will be accepted for consideration.

Speaking on the scheme, Teju Abisoye, Executive Secretary-LSETF, commended the efforts of Access Bank’s W Initiative for collaborating with the Lagos State Employment Trust Fund (LSETF) on this laudable funding scheme. She says “The LSETF was set up in 2016 to address unemployment in Lagos State. It does this strategically by providing affordable financing to MSMEs in the State to increase their productivity and expand in such a way that they can employ more people. With the LSETF-W Initiative loan, we will not only be able to tackle financing gaps for female businesses but also make it affordable for them to thrive in the state”.

Ayona Trimnell, Group Head- W Initiative, Access Bank Plc., expressed her delight on the launch of this special intervention fund by LSETF and Access Bank. She said “many individuals especially women have encountered challenges in doing business which includes limited access to funding. This funding challenge has deepened with the pressure of the pandemic situation on the economy. Our response to this plight is to make available the LSETF- W Initiative loan which is rightly positioned to tick all the boxes for our female entrepreneurs. The LSETF-W Initiative loan is highly competitive at 10% per annum, requires no collateral (fixed property), and can be repaid over a period of 24 months”.

“This is an amazing opportunity for women-led businesses and we can’t wait to support over 4,000 female businesses with this fund. Interested applicants can apply through the LSETF loan portal via apply.lsetf.ng” she concluded.

There is so much more Access Bank is offering MSMEs which include business support services, digital payment solutions etc. Ayodele Olojede, Group Head Emerging Business, Access Bank Plc., shares her thoughts on what female entrepreneurs can enjoy in addition to this fund.

“We understand the nitty-gritty of doing business which goes beyond just having capital hence, many businesses require proper structure, online presence, mentors, access to market and networking opportunities to survive in the first 5 years of business operations. Access Bank desires to take the pressure off you in so many ways to enable you grow and succeed in your desired business path”.

Access Bank is a one-stop-shop for exciting offers on free trainings, business clinics, discounted website support services, registration services, verified payment links, discounted professional advisory services on bookkeeping, taxation, legal needs and so much more.

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    Corporate Press Releases

    Unilever holds 96th AGM, declares N62bn Turnover

    According to the Company’s financial report, there was a 2.4 per cent year-on-year increase in revenue from N60.8 billion to N62 billion in the year under review.

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    Leading consumer goods producer, Unilever Nigeria Plc has declared a turnover of N62 billion for the financial year ended December 2020, even as the Board assured shareholders of their commitment to good corporate governance to drive sustainability and efficiency across the Company’s operations.

    Addressing shareholders at the 96th Annual General Meeting of the Company, the Chairman of the Board, His Royal Majesty, Nnaemeka Achebe commended the shareholders for their trust and loyalty to the Company despite the challenges posed by the COVID-19 pandemic in the year under review. He added that the Company will remain strategic in its approach to attaining sustainable growth and profitability.

    According to the Company’s financial report, there was a 2.4 per cent year-on-year increase in revenue from N60.8 billion to N62 billion in the year under review. The increase was driven by 7.3 per cent year-on-year growth in its food products, which was slightly offset by a 3 per cent revenue drop in the home and personal care segments. These results reflect a challenging operating environment

    Speaking on the results, The Chairman, Board of Directors, Nnaemeka Achebe, stated that even though 2020 was a year of significant disruptions and volatilities impacting the operating environment, Unilever Nigeria continues to build its resilience to navigate the impact of headwinds.

    Achebe added that the company remains focused on its strategy to deliver sustainable growth both in the medium and long-term riding on the pillars of operational efficiency, cost optimization, purposeful brands and increasing market share across key categories.

    “We continue to monitor the business environment and respond appropriately to volatilities in the operating environment as well as disruptions from the Covid-19 pandemic,” he said.

    In compliance with the Federal and State government directives on social distancing as part of measures to reduce the spread of the coronavirus, this year’s AGM was hybrid with most of the shareholders joining virtually.

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    Corporate Press Releases

    Asharami Energy’s graduate program targets future Upstream experts

    Application for the program kicks off on Friday, 7th May 2021 and closes on Monday, 17th May 2021.

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    Asharami Energy, a Sahara Group Upstream company, has commenced its 2021 Graduate Trainee Program that is geared towards enhancing the sustainability and future of the sector through training of exceptional young talent.

    Henry Menkiti, Chief Operating Officer, Asharami Energy, said the widely sought-after program has been instrumental to the transformation of young engineers and others professionals into top talent across the value chain at Sahara Group. “At the heart of our operations lies unrivaled engineering expertise that is driven by innovation, responsible engineering, and an unwavering commitment to improvements aligned with global environmental, social and Corporate governance standards. The Graduate Trainee Program is for enthusiastic and future thinking individuals desirous of becoming future leaders in the oil and gas sector,” he said.

    Ivie Imasogie-Adigun, Group Head, HR at Sahara Group said the program resonates with Sahara’s human capital transformation strategy aimed at building a leading, nimble and agile organisation for optimal performance.

    Imasogie-Adigun said the program gives graduate trainees exposure to top-level responsibility early in their careers, with ample opportunity to hone their potential across the Upstream value chain. “Sahara’s Graduate Trainee Programs are deliberately innovative and disruptive as we are always ahead on the curve of making a difference. The program has over the years produced outstanding business leaders at Sahara and I enjoin graduates to apply for an opportunity to commence their journey towards excellence in the Upstream sector. ”

    Application for the program kicks off on Friday, 7th May 2021 and closes on Monday, 17th May 2021. It is open to candidates with a Bachelor’s Degree in Engineering, Applied & Social Sciences with a minimum of Second-Class Honors (Upper Division) and NYSC discharge certificate. Applicants can follow Sahara Group on twitter and Instagram @iamsaharagroup for more information on the Graduate Trainee Programs.

    Asharami Energy is one Africa’s leading independent Exploration and Production (E&P) Companies with a diverse portfolio of 8 (eight) oil and gas assets in prolific basins across Africa. Asharami Energy Limited and Sahara Energy Fields Holdings UK Limited are the entities at the forefront of Sahara’s upstream operations.

    These assets are at various stages of development ranging from exploratory fields to mature producing fields with huge potential for positive returns.

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