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Polaris Bank Webinar: Experts outlines Women Wealth Building Strategies 

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Three accomplished Nigerians and leading authorities in government and finance sectors; Yewande Sadiku, Osayi Alile and Teju Abisoye have jointly enjoined Nigerian women to explore multiple investment opportunities available to build a sustainable wealth that would last generations. The trio gave the advice at a webinar organized by Polaris Bank on Tuesday in Lagos as part of activities lined up to celebrate Women’s Month in line with the International Women’s Day celebration with the theme #choosetochallenge. The webinar held under the aegis of the Bank’s gender-based product, Polaris Pearl, focused on understanding the role of investment in wealth creation and the importance of taking financial responsibility.

According to Ms. Sadiku, the Executive Secretary of Nigerian Investment Promotion Commission (NIPC), “For women to attain financial fitness, they have to build passive income and focus on multiple investment streams to realize the future of their dreams”.

Drawing a metaphor, the NIPC Boss and erstwhile senior Investment Banker explained that “In building passive income, you shouldn’t eat your seed, rather, plant it and let it grow to a tree, so you can have many more to eat, plant and grow”.

Using personal examples to illustrate how she built her wealth starting out as a young Banker at age 20, Ms. Sadiku explained that she seized the moment and had a vision of the life she wanted to live and started building a passive income through multiple investment windows; setting aside a chunk of her earnings in buying stocks, investing in mutual funds as well as putting away her bonuses and salary increments in fixed deposits, which she later invested in landed properties and real estate.

On her own part, Ms. Alile, who runs Aspire Coronation Trust Foundation, tasked Nigerian women to start saving from the moment they become conscious of the need to attain financial fitness. She urged them not to be in unnecessary competition that brings little or no value in the long run.

“Follow your lane and build a solid foundation that will stand the test of time especially when challenges come”, Ms. Alile advised.

She further reinforced the advantage of starting out children on a solid financial foundation with gifts – in form of stocks and mutual funds – just like she had while growing up, which helped set her up on the right path. She encouraged participants to start their financial fitness journey now and get help where needed.

In her own presentation, Mrs. Abisoye, the CEO of Lagos State Employment Trust Fund, said that at LSTEF, they observed that women-run businesses have a larger impact on the community and society; adding that it is possible for women businesses to drive impact, making a case for empowering women for greater and more widespread economic impact.

She advised young ladies – either in paid or self-employment to start with the end in mind, stating that: “Once you begin with the end in mind, you are bound to succeed ultimately, even as she disclosed that there are multiple sources to fund a Start-Up as a budding entrepreneur.”

“You can grow wealth irrespective of employment status. You can start out with your personal savings and seed money from family and friends. She enjoined participants to start and grow their businesses before exploring the debt financing option. She further encouraged start-ups to use the acronym: S-service, I-impact, S-sales and I-investment as a mantra to ensure success as the eventual outcome.

Earlier in his welcome address, the acting Managing Director/CEO of Polaris Bank, Mr. Innocent C. Ike, explained that that the webinar was put together to address pertinent issues that border on ‘Women and Growing Wealth’.

Mr. Ike noted that women empowerment and development is core to our sustainability goals and a key focus area of “our social investments and business objective as a Bank. We have had some interventions in this area for impact”.

“Our partnership with the International Women’s Society, Lagos State Ministry of Women Affairs and Poverty Alleviation, Societal Healthcare Organisation, and a host of others, are all efforts geared towards the empowerment of women,” he added.

The webinar which had over 1,000 participants following across multiple social platforms, was moderated by the Group Head, Products and Market Development, Polaris Bank, Mrs. Adebimpe Ihekuna.

According to 2018 Credit Suisse Research Institute Global Wealth Report, women hold 40% of global wealth. The report stated that women’s share in wealth rose considerably over the 20th century.

Polaris Pearl is the Bank’s flagship gender-based product designed to cater to the banking needs of the everyday woman, with special focus on Professionals, Entrepreneurs and Homemakers. The account is available in three (3) variants; Polaris Pearl Instant Account, Polaris Pearl Instant Plus Account and Polaris Pearl Account – Savings.

Polaris Bank is a future-determining Bank committed to delivering industry-defining products and services across all sectors of the Nigerian economy.

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Half-Year Performance: Transcorp Plc Shows Powerful Growth as Profit Leaps by 713%

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Transcorp Hotels

Transnational Corporation of Nigeria Plc (Transcorp) has released its unaudited results for the half-year ended June 2021, recording significant improvement across its major income lines.

The Conglomerate with strategic investments in the Power, Hospitality, and Energy sectors, recorded a profit after tax of N6.5bn, rising by 713% up from N0.8bn recorded in June of the previous year. Other key highlights of the result include the following:

  • Revenue rose by 53%, from N35.0bn in June 2020 to N53.3bn in the period under consideration.
  • Gross profit grew by 60%, from N14.7bn in June 2020 to N23.5bn in June 2021.
  • Profit before tax rose by 689% from N0.9bn in June 2020 to N7.1b in June 2021.

Commenting on the performance, Transcorp’s President/Group CEO, Mrs. Owen Omogiafo, reiterated the Conglomerate’s commitment towards producing long-term value and sustainable impact. “We are pleased to see the sustained growth in our group performance, which was achieved as a result of the improved performance across all the sectors we operate in. The revenue achieved in our power business grew by 48%, as a result of improved gas supply and increased generation capacity”, she stated.

Commenting on the hospitality sector, Omogiafo stated that the company’s strategic actions have resulted in a growth in revenue of up to 84%, despite the ongoing impact of the COVID-19 epidemic on the Nigerian and global hospitality industries. She expressed confidence in the company’s recovery strategies, citing the recent official launch of Aura, the company’s digital hospitality platform, as a testament to that confidence.

On the Group’s capacity to sustain its performance, Omogiafo said, “We do not plan to rest on our oars. We will continue to sweat our existing assets and explore new frontiers, as we continue to deliver on our purpose of Improving Lives and Transforming Nigeria.”

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Rethinking safe-haven assets and building resilient portfolios with Xend Finance

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As with most things in life, feeling overwhelmed as a newbie is simple, and this is especially true in such a volatile market as the world of cryptocurrencies. Regardless of the uncertainty and worries, the world of cryptocurrency has the potential to have a unique and substantial impact on anyone’s financial stability.

Government Bonds, treasury bills, and other forms of fixed income investments are undeniably considered as safe haven investments due to their low risk, but with inflation on the increase, the question arises how safe is money locked up for a specific period of time?

It is therefore important to build a resilient portfolio able to minimize risks and mitigate volatility, diversity into multiple unrelated investments, deliver steady returns and also able to recognize changing market conditions, new opportunities and respond accordingly.
Enter the world of Stablecoins. A less volatile cryptocurrency asset pegged to a cryptocurrency, fiat money, or to exchange-traded commodities (such as precious metals or industrial metals).

Compare to other forms of cryptocurrency assets like bitcoin, or altcoins the advantages of stablecoins are stabilized by assets that fluctuate outside of the cryptocurrency space that is prices are pinned to real-world assets.
Most stablecoins are pegged to the US Dollar as they are an easy way to get exposure to the crypto space without having to worry about volatility.

You can build a resilient portfolio with stable coins by having a good foundation on which you can build and protect your investment portfolio. This is necessary to provide a buffer when the markets are volatile or things go south.

These stablecoins also provide diversification as Investor Phillips Hodges mentioned in an interview emphasized the importance of balancing factors affecting the returns you can get across the different than the classes themselves. Stable coins also provide the extra diversification a portfolio needs to stay afloat in a stormy market, minimize losses due to their low volatility.

Be rest assured as an investor that your portfolio can only said to be strong when you have investments that can stand the test of time. Inflations and rickety market conditions.
If you’re a fund manager looking to get exposure to the crypto space through stable coins, send an email to [email protected] and someone would be in touch with you.

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Market formation framework, driver to optimally develop solid mineral sector- Ifie Sekibo 

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Ifie Sekibo

MD/CEO of Heritage Bank Plc, Ifie Sekibo has said that the market formation framework is the key to optimally exploit Nigeria’s precious metal and solid minerals endowments. He disclosed this during a webinar organized by the Securities and Exchange Commission (SEC) in collaboration with the Federal Ministry of Mines and Steel Development with the theme, “Financing the Solid Minerals Sector through the Capital Market and the Critical Role of Commodity Exchanges.”  

Sekibo explained that a fully established market formation process that would lead to having a Corporation as an integrated solid mineral institution like NNPC which allows the collateralization of assets those banks can rely on for alternative funding options.

According to him, this will guarantee other creative ways of raising funds for financing commercial activities relating to solid minerals and viable projects along its value chain.

Sekibo who was represented by the Divisional Head, Strategy and Business Solutions, of the Bank, Olusegun Akanji, said for the sector to be viable, it requires lots of converged government interventions because for any development focused sector to kick-off around the world, it needs government intervention to lay the foundation for the private sector and funders to step-in and pool their resources.

“Once, we can collateralize these assets, whether they are under the ground or being determined, you use different instruments to bring liquidity into them. Then investors will follow up once we have established there is enough they can explore.” the MD stated.

He further suggested that finance sector regulators need to expand their Prudential Guidelines to accommodate the instruments such that precious metal-backed or solid minerals-backed assets could qualify as part of the computation of liquidity ratios.

“Once banks start injecting their resources, customers would certainly follow that trend. You can start arranging for sophisticated solutions like bonds, bullion-backed assets and pension notes. Again, banks will have to be poised to hold the funding that comes from this sector; that way, they can open new transactional frontiers either locally or internationally.

“At the base of this, are the issues of pricing and integrity of the market. Once banks play in that sector and we have a government institution like the NNPC type to hold all this documentation, it would be very easy to establish price discovery on an ongoing basis. This will in turn attract international funders, hedge funds and retail investors. Today, we have retail bonds in the same way; we can have gold-backed or any of the solid mineral assets where retail investors can put in the funds,” Sekibo explained.

Meanwhile, it would be recalled that Heritage Bank Plc has said its involvement in the private sector collaboration with Dukia Gold & Precious Metals Refining Co. Limited is set to unlock the over N344 trillion market worth of gold investible instruments in the solid minerals sector.

However, he reiterated that a consistent packaged framework, which could only be held by an established government institution, as part of the layers of the framework, would help to tackle major challenges in trying to support Dukia Gold’s clients.

“With a consistent packaged framework, it will be easier for Dukia Gold and help in less spending. If Dukia Gold should speak of their challenges, they will speak about tonnes of documents they have to produce. But with a unified source of documentation, it makes the process easier and improves cost management. These are some of the challenges we have experienced in trying to support a few clients we worked with,” Sekibo stated.

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