Business
Access Bank Receives ‘Best Trade Partner Bank West Africa’ Award from IFC
Access Bank Receives ‘Best Trade Partner Bank West Africa’ Award from IFC
Access Bank has been recognized as the ‘Best Trade Partner Bank West Africa 2024’ by the International Finance Corporation (IFC). The award was presented at the Global Trade Partners Meeting (GTPM) in Barcelona, Spain, showcasing Access Bank’s outstanding performance and dedication to enhancing trade finance across the continent.
NewsReport Nigeria reports that the GTPM, organized by the IFC, stands as a significant event in the global trade finance industry, known for its distinct impact due to IFC’s vast reach and client base in emerging markets. The 2024 event, marking the 20th anniversary of IFC’s Global Trade Finance Program, attracted a record number of delegates. It featured distinguished speakers and panelists who provided valuable insights into the global trade landscape.
Seyi Kumapayi, Executive Director, African Subsidiaries at Access Bank, expressed gratitude for the award, stating, “We are honored to receive this award from IFC, a testimony to our continuous efforts in leveraging our extensive network across Africa to expand trade opportunities between the continent and the rest of the world. Access Bank remains committed to facilitating trade that propels economic growth and prosperity for our stakeholders and the regions we serve.”
Representing Access Bank at the GTPM were key individuals such as Sunmbo Olatunji, Group Head, Treasury; Tosin Olatunji, Group Head, Corporate Operations; Seun Olufeko, Group Head Project and Structured Finance, Corporate and Investment Banking Division (CIBD); Oluchukwu Kalu, Team Member PSF, CIBD; and Rowly Isioro, Head, Trade and Global Transaction Banking (Africa). Isioro also engaged in a panel discussion titled ‘IFC: 20 Years in Trade, Partnerships, and Perspectives.’
During the panel session, Isioro emphasized the significance of establishing robust trade finance systems in emerging markets and discussed the evolution of the IFC Global Trade Finance Program. He highlighted how IFC expanded its services over the years, from providing guarantees for letters of credit to accommodating other trade instruments like promissory notes and facilitating green trade or climate-friendly transactions. “Africa is ripe for partnerships that can drive substantial economic growth,” remarked Isioro.
Isioro further added, “At Access Bank, we are dedicated to developing innovative solutions that address the unique challenges faced by African businesses, such as currency volatility and regulatory complexities. By enhancing our trade finance infrastructure and leveraging the interconnectedness of our subsidiaries strategically positioned across Africa’s key trade blocs, we aim to streamline trade flows and empower our clients to seize global opportunities effectively.”
The GTPM Barcelona 2024 featured a comprehensive three-day program that included contributions from internationally renowned speakers such as Marc Auboin, Counsellor at the World Trade Organization; Alexia Boutin-Somnolet, Lenders’ Solution Leader at Marsh; Gonzalo Gortázar, Chief Executive Officer of CaixaBank, Spain; Nathalie Louat, Global Director, Trade and Supply Chain Finance at IFC; and Paolo Mauro, Director of the Economic and Market Research Department at IFC, among others. The event, sponsored by Access Bank, CaixaBank, and others, concluded with a Gala Awards Dinner celebrating the 20th anniversary of IFC’s Global Trade Finance Program and honoring its high-performing trade finance partners.
