Afreximbank Supports Heritage Bank Growth With $150million

[vc_row][vc_column][vc_column_text]African Export Import Bank (Afreximbank) has provided a $150 million funding support for Heritage Bank Limited.

In a statement announcing this development yesterday, Divisional Head, Corporate Communications, Olusola Longe-Okenimkpe said, HBCL Investment Services Limited (HISL) a major shareholder of Heritage Bank Limited has executed the term sheet for the issuance of guarantee for its $150 million Convertible Bond with the African Export Import Bank (AfreximbanK) to support Heritage Bank Plc in its next phase of growth.

Heritage Bank recently concluded a business combination with Enterprise Bank Limited as part of its market focus and positioning strategy. The underlying essence of the combination was to facilitate the deployment of its retail banking franchise especially its aspiration of emerging as the bank of choice for small growing businesses.

Afreximbank, a frontline African financial institution believes in the uniqueness of the business strategy of Heritage Bank especially the Small Growing Business focus of the bank which aligns with the founding mission of Afreximbank. The outcome of recent engagement with a number of institutional investors shows a desirable appetite for the bond issuance which is scheduled to be completed within a couple of weeks. Heritage Bank continues to present itself as an evolving institution with solid commitment to innovation, service excellence and value creation underlined by world class corporate governance.[/vc_column_text][/vc_column][/vc_row]

Heritage Bank will increase wallet of business transactions with Lagos State Govt - George-Taylor
L-R: Dr. Sophia Horsefall, Corporate Relations Manager, SPDC; Osepiribo Ben-Willie, Executive Director of Heritage Bank and Ivy Davies-Etokakpan, President of Eveafrique News at the Women Must Conference 2.0, titled “The Woman and Her Must” organised by The Kilali Tribe held in Port Harcourt.

PRESS RELEASE

Heritage Bank is agent for actualisation of SDG 5-Gender Equality, women empowerment – Kilali Tribe

05/12/2022:  Heritage Bank has been commended for being an agent for the actualisation of Sustainable Development Goals SDG 5 – Gender Equality, as well women empowerment for socio-economic growth.

This was stated by Kilali Tribe at the Women Must Conference 2.0, titled “The Woman and Her Must” organised by The Kilali Tribe which held in Port Harcourt.

The Kilali Tribe is an association of prolific Rivers and Bayelsa State women who come together to support themselves through peer learning, capacity-building initiatives, networking, and mentoring. Also, provide similar structured support to other women within the community.

Speaking at the event, Ivy Davies-Etokakpan, President of Eveafrique News who also member of Kilali Tribe, commended Heritage Bank for taking the lead in championing the empowerment of women over the years in the country.

“We are proud of Heritage Bank for making us soar while promoting women empowerment. Over the years, Heritage Bank has proved to be an agent for the actualisation of achieving SDG 5 – Gender Equality, as well women empowerment,” she said.

The Executive Director of Heritage Bank, Osepiribo Ben-Willie affirmed the need to deliberately adopt measures to deepen women empowerment to drive the nation’s socio-economic growth.

In her closing remarks, Osepiribo Ben-Willie hinted that the Conference had leveraged Kilali Tribe to come up with blueprint in promoting women’s equal right to socio-economic empowerment, as this is at the heart of the SDG5-Gender Equality.

The Executive Director of Heritage Bank affirmed that women all over have proved to be huge economic asset in the act of creation of a new sustainable economy, hence gender inclusiveness and women’s empowerment must be taken as a priority.

According to her, after evaluating the bottlenecks restraining the Kilali Tribe and other women to attain the platforms to grow professionally and thrive in all spheres of t heeconomy, it is a call to action to “tackle the challenges of gender disparity and lack of inclusiveness that have continued to impede the expected rapid economic empowerment that could help unshackle our women’s entrepreneurial prowess and foster more representation for women and girls at decision-making forums and Board levels in comparison to their peers in the developed countries.”

Ben-Willie added that for women to emerge economically and socially as independent there was an urgent need to tackle psychological, social and skill constraints.

Collaborating Ben-Willie’s, the Co-founder and former Group Executive Director of Sahara Group, Tonye Cole, advocated for women and girl inclusiveness across all sectors of the society, including economic participation and decision-making.

According to him, the country should be conscious of gender equality, whilst emphasising that dealing with the psychological constraint will enable women to be balanced emotionally.

He stressed the need for organisation to leverage women positions on Board level, as they are resourceful and could enormously impact to the growth of any society.

Cole also charged women in being deliberate to position and champion course that would put them at the forefront of making difference. //END.//

Ozena Utulu, Ag. Group Head, Corporate Communications