ProvidusBank Limited has collaborated with MasterCard to introduce an innovative payment solution for business customers in a bid to facilitate seamless transactions for both payment and collection purposes.
Speaking at the launching of the new solution named Amphi card, the first of its kind in the Middle East and African continent, Mr. Walter Akpani, the Managing Director of the Bank, emphasized the institution’s commitment to innovation.
He expressed gratitude to MasterCard for their partnership in the project, saying, “We want to pioneer new ways of doing things and that is not something we can do alone.”
Akpani, described the card as part of the bank’s ongoing pursuit of innovation, saying “The frontier of innovation never stops; we just have to continue to prod our intellectual abilities to do new things. At the end of it all, it is the customers that benefit from this push for innovation.”
He reassured the bank’s customers that they would remain at the forefront of addressing their needs, providing tailored solutions to foster business growth.
Mr. Kingsley Aigbokhaevbo, the Deputy Managing Director, affirmed that the new product would significantly reduce expenses for MSMEs, describing it as a fantastic solution.
A representative from MasterCard Kari Tukur Vice-president – Customer Service Solutions -East Africa & west Africa/Indian Oceans acknowledged the Amphi card as the first dual card launched in Eastern Europe, the Middle East, and Africa.
She said, “As a technology company in the payment industry, we are excited to be part of this innovative solution – a digital and financial technology that makes life different and easy for everyone. Today, we are launching a solution that embodies payment and collection, making it a truly different and far-reaching solution.
“At MasterCard, we realized the pivotal role that MSMEs play in the global economy as they contribute significantly to the economic and job creation in its different markets.”
Highlighting the crucial role of MSMEs in the global economy, a representative of the Bank of Industry (BOI) Chike Chukwuelue Manager, Corporate Finance Division said the bank is actively involved in the innovation landscape in Africa, collaborating with commercial banks to provide affordable loans to SMEs. Additionally, the BOI offers various products directly benefiting SMEs.
According to him, statistics show that in 2022, MSMEs contributed over 48 percent to Nigeria’s GDP and accounted for more than 90 percent of businesses and 80 percent of employment, thereby serving as the true backbone of the Nigerian economy.
Geared towards boosting impactful investment opportunities for Non-profit organizations, a leading primary mortgage bank in Nigeria, Abbey Mortgage Bank, has organised a sustainable workshop for stakeholders of non-profit organizations to enhance financial sustainability and drive positive change within the civil society sector.
The event which was Tagged “Financial Management: A Sustainability Tool for Non-Profit Organizations” held on Wednesday 29th November 2023 in Abuja, is aimed at creating impactful investment opportunities to aid sustainability efforts in line with SDG 17 which supports the implementation and revitalization of Global Partnership for sustainable development in the civil society.
The workshop was attended by prominent guests including Jubril Shittu, CEO of PPDC; Dr. Ayodotun Olutola, CEO of CCCRN; Hamza Lawal, CEO of CODE; and Gideon Olanrewaju, CEO of AREAi among other guests.
Bukola Ewedairo, the Group Head, Non-Profit Organizations at Abbey Mortgage Bank, while speaking at the event, noted that, “Abbey Mortgage Bank is rightfully positioned to partner with institutions in the civil society by creating opportunities for long-term sustainable investment.
“We believe that Non-profit organizations need to be strengthened to achieve their mission and this workshop was our way of collaborating to ensure that they can thrive especially with the volatilities in our local economy” , she stated.
Also speaking at the event, the Managing Director of Abbey Mortgage Bank and a key speaker at the event, Mobolaji Adewumi, noted, “ At Abbey, we are creating an ecosystem where non-profits can flourish, contribute meaningfully to society and drive sustainable change.
Adewumi further noted “We are committed to helping individuals build wealth and attain financial empowerment and we are proud to collaborate with these distinguished leaders to make a lasting impact by supporting financial growth and empowerment” He stated.
The workshop had informative and interactive discussions, providing a forum for participants to share insights and explore collaborative opportunities. Attendees engaged in dynamic conversations, delving into strategies to enhance financial sustainability and drive positive change within the civil society sector.
Abbey Mortgage Bank reaffirms its commitment to fostering continued partnerships with NGOs, furthering its impact on the non-profit sector. The bank looks forward to ongoing collaboration, contributing to the achievement of sustainable development goals in Nigeria.