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Gokada to rebrand as delivery company — after Lagos okada ban

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Gokada, a bike-hailing company with operations based in Lagos, is redirecting its focus to logistics.

This is coming after the Lagos state government under the leadership of Babajide Sanwo-Olu banned the use of motorcycles and tricycles in 16 local governments and local council development areas.

Tweeting in response to a report about the company laying off most of its workforce, Fahim Saleh, Gokada CEO, said: “We still have money in the bank and are pivoting towards deliveries while this transport ban gets sorted”.

According to Saleh, the company was due to make a profit in January when the ban was announced.

Gbenga Omotoso, the Lagos state commissioner for information and strategy, said the ban was decided after a review of casualties.

“After a robust assessment of the debate on what has been widely referred to as the motorcycle (okada) and tricycle (Keke Marwa) menace, the Lagos state government and the state security council have decided that the security and safety of lives of Lagosians are paramount,” he said.

“The figures are scary. From 2016 to 2019, there were over 10,000 accidents recorded at the General Hospitals alone. This number excludes unreported cases and those recorded by other hospitals. The total number of deaths from reported cases is over 600 as at date.”

In May 2019, Gokada announced that it secured $5.3 million investment through a fundraising process.

At the time, it said it would deploy the investment to expanding its driver fleet, increasing daily rides by 10 fold and acquiring local talent.

Since its launch in 2018, Gokada said it has acquired approximately 1,000 motorcycles and completed one million rides.

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Ecobank Nigeria to host Regional Trade Forum 2020

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Ecobank Nigeria is set to host its 2020 Regional Trade Forum in Lagos.

It gathered that the forum taking place in March, will be a two-day event, providing the opportunity for exporters and importers within the African region to exhibit their products in a marketplace scenario with panel discussions by highly experienced and diversified stakeholders and leaders of thought in the industry.

Ecobank Nigeria is a member of the pan African banking group with unparalleled Africa wide Network Advantage across 33 countries catering for businesses and providing world class trade services to its customers. The Ecobank Group network has over 30 years been enhancing the financial integration of the continent. The Group provides solutions to facilitate trade in the various trade corridors and groupings across Africa

Announcing the Trade Forum in Lagos, Sunday Abah, Head Trade Finance of Ecobank Nigeria said Ecobank is using the forum to unveil its comprehensive trade solutions to its existing and prospective customers alike by sharing the various payment methods available to facilitate cross border trade throughout its network across Africa. According to him, Ecobank recognizes the role of exporters and importers in driving economies through trade.

“By creating a networking forum for importers and exporters via the trade exhibition slated for the first day of the forum, the Bank extends support to stakeholders in export and import businesses.

“Ecobank’s trade products and solutions are designed around two broad areas: Trade finance which enables customers benefit from adequate and well mitigated credit facilitation in the area of Import finance, export finance, bill discounting, trade loans, distributor finance, structured trade and commodity finance amongst others; also we do Trade Services, which gives our customers the advantage of speedy turnaround time and error free processing of Import Letters of Credit, Import collections, Customs bonds, Export collections and regional trade services amongst others,” he noted.

Ecobank’s unique intra-Africa trade solutions enable settlements of trade transactions and mitigation of payment risk; provide regional solutions and enable exporters obtain payment guarantees without the need for a letter of credit and its related costs to the importer. Ecobank works closely with clients in reviewing key factors regarding transactions processing, settlements, financing, and risk mitigation as well as credit enhancement. The bank boasts of a unique and large Pan-African platform that positions it to support trade at all levels. Its technology platform is designed to help unlock the opportunities of the continent through standardization across 33 countries, while fueling regional integration, trade and investment across borders.

The Ecobank Africa Trade Forum is expected to attract hundreds of guests and participants. Leaders from across Ecobank Group will also be attending to share their market specific trade knowledge and information.

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Richard Quest Visit Management Of Fidelity Bank Plc

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CNN Anchor, Richard Quest, paid a courtesy visit on the Management of Fidelity Bank Plc on Monday, February 12. During the visit, he engaged the team on several issues including SME lending and leveraging digital channels to deepen financial inclusion in Nigeria.

CNN Anchor, Richard Quest (left) engaging with Managing Director/CEO, Fidelity Bank, Nnamdi Okonkwo on SME lending and leveraging digital channels to deepen financial inclusion in Nigeria on Monday


CNN Anchor, Richard Quest (left) engaging with Managing Director/CEO, Fidelity Bank, Nnamdi Okonkwo on SME lending and leveraging digital channels to deepen financial inclusion in Nigeria… Monday

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Fidelity Bank Trains 200 Sokoto Varsity Students in Skill Acquisition

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Fidelity Bank Plc and Gazelle Academy have trained 200 undergraduates of Sokoto State University (SSU) in the acquisition of skills in fashion design, handsets repair, cocktail and make up.

Speaking at an event in Sokoto Monday, the Managing Director of Fidelity Bank, Nnamdi Nwankwo, represented by the bank’s Head of Recruitment, Chris Nnawe, said the programme under Fidelity Youth Empowerment Academy Stream 7 (YEa7) is part of the bank’s cooperate social responsibility.

“We in Fidelity bank have targeted programmes on education, environment and youth empowerment. This one you are witnessing today is part of fulfilling our promises to the society,” he said.

Nwankwo said that the programme started in 2016 at the University of Nigeria, Nsukka, stressing that since then the bank and its partner, Gazelle Academy, have visited more than five higher institutions in the country, as this one is stream 7 of the programme.

According to him, youths were trained to acquire some skills to enable them to be self reliant and also make them to be employers of labour even while in school.

He disclosed that at the end of the training, start packs will be given to each participant to aid him/her to start something of their own, adding that after the undergraduates’ education, they can seek for soft loans from the Small, Medium Enterprise (SMEs) Department of the bank.

On her part, the founder of Gazelle Academy, Mrs Muna Unuozo, said the programme was aimed at equipping the students with skills that they could use while still in school or after graduation.

She said that with the knowledge of the skill acquired, they could fend for themselves even while in school.

Speaking at the event, the Governor of Sokoto State Aminu Waziri Tambuwal thanked Fidelity Bank and Gazelle Academy for chosing the school for the programme.

Tambuwal said that as a responsible government, his administration have prioritized the welfare of the youths in the state.

He enjoined the participants to be focused and concentrate in order to benefit from the training.

Earlier, the Vice-chancellor of the university, Prof. Sani Dangogo, thanked Fidelity Bank and Gazelle Academy for the benevolent gesture, saying the training will go a long way in alleviating the financial burden of the students.

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