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Wema Bank Donates Brand-New Car to Winner of Outstanding MSME Clinic of the Year at National MSME Awards 2024

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Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, donated a brand-new car to Desoor Bags, the winner of the Outstanding MSME Clinic award—female category, at the National MSME Awards Night 2024. This Award Ceremony was held at the Presidential Villa in Abuja on Thursday 27th June 2024, to commemorate World MSME Day.

 

 

The International MSMEs Day and MSME Awards Night 2024 is a twofold event organised by the Federal Government of Nigeria through the Office of the Vice President, to celebrate the successes in the Nigerian MSME Sector and develop sustainable solutions for the continuous growth and development of the sector, to ultimately boost the Nigerian economy.

 

 

The first part of the event convened top reputable institutions and entities including Wema Bank, to brainstorm and proffer sustainable financial solutions to not only provide affordable loans and funding for MSMEs, but to also ensure that these financial solutions are easily accessible and available to MSMEs. The concluding part of the Event was the National MSME Awards 2024; the sixth edition of the annual celebration.

 

The Award Ceremony celebrated top performing MSMEs across various categories from different parts of the country, awarding them with gifts and cash prizes in show of support and in advancement of their businesses. Wema Bank, reputed for its positive impact across various areas including MSMEs and Women, not only contributed immensely to the solutions garnered in the daytime event but also sealed its commemoration of World MSME Day 2024 at the National MSME Awards 2024 by gifting a car to Desoor Bags, the winner of the Outstanding MSME Clinic award (female category).

 

 

This remarkable gesture simultaneously reinforced the Bank’s role as an enabler for MSMEs and its reputation for championing women empowerment and promoting gender inclusion in Nigeria.
Presenting the award and car gift in representation of Moruf Oseni, the MD/CEO of Wema Bank, Tunde Mabawonku, the Bank’s Executive Director of Retail and Digital Business, highlighted the impact of the World MSME Day 2024 events, emphasising the need to provide tailored support for MSMEs and advocating for a seamless synergy of capacity development, financial and material empowerment, collaboration, as well as leveraging technology and digital, to build a supportive ecosystem for MSMEs to thrive. “First, I would like to congratulate Adesola, the Outstanding MSME Clinic Award winner in the female category of the 6th National MSME Awards.

 

 

It should come as no surprise that we choose to reward a woman today, as Wema Bank has always demonstrated a strong commitment to empowering women and provided tailored solutions for them to thrive in their personal and professional endeavours. We continue to do it through our women-focused proposition, SARA, and today, we have chosen to support this outstanding woman-owned business with a car to reduce stress and increase efficiency for her as she continues to grow her business”.

 

 

“As we commemorate World MSME Day today, it is important that we set our sights forward on the future of MSMEs in Nigeria. This is why the conversations we’ve had today are very important and Wema Bank is more than glad to be part of it. As the Bank that is committed to empowering lives through innovation, we are dedicated to not only providing innovative solutions and resources for customers to thrive but also empowering them to make the most of these solutions we provide. Technology and digital are the future, and intelligence is here to stay so beyond providing financial resources for MSMEs, we are also focusing on empowering them with digital skills to ensure they are not left behind in this digital evolution.

 

 

The goal is digital empowerment for scale. To maximise our impact, we will continue to innovate and collaborate to drive capacity development, financial and material empowerment, as well as technology and digital empowerment for MSMEs, to build an enabling environment for these MSMEs to thrive”.

 

Expressing irrepressible gratitude to Wema Bank for the remarkable show of support, Adesola Adedoyin, CEO Desoor Bags and Winner of Outstanding MSME Clinic Award (Female category) at the National MSME Awards 2024, added, “I cannot find the words to express how I feel right now. My business has been recognised on such a huge platform and on top of that, I am going home with N2,000,000 and a brand-new car, it feels so unreal. Thank you, Wema Bank, for supporting me and my business with this car. I can now transport myself and the resources Desoor Bags needs without struggling to ‘jump bus’ multiple times when I can fit it all in the car at once. I am beyond grateful. Thank you to the Federal Government for the opportunity and thank you, Wema Bank for all you do”.

 

 

In its authority as Nigeria’s most innovative bank, Wema Bank continues to prove its mettle not just as an enabler for MSMEs but also as the partner of choice for all. With the Bank’s diverse range of tailored solutions and its success in already providing single-digit loans for female MSMEs, among others, Wema Bank continues to push boundaries for the best and redefine standards in the banking and financial services industry.

Business

BINATONE Announces Special One Month Black Friday Deals!

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Global Appliances Nigeria Limited, manufacturers of Binatone products has, announced an exciting Black Friday deals.

 

The company’s Managing Director, Mr Prasun Banerjee, said the offer cut across Its Full Range of Smart Home Appliances.

“Binatone, one of Africa’s most trusted appliance brands for over 52 years, is delighted to announce its Black Friday Mega Sales offering amazing discounts across all key supermarkets and leading electronic stores nationwide” Mr Banerjee said in a statement.

The promotion will be from November 6th to december 6th, 2026.

During this period, Mr Banerjee said customers will have a full month to enjoy unbeatable prices on a wide range of Binatone products.

“From energy solutions to kitchen essentials, Binatone will bring exceptional value and innovation to every Nigerian home this festive season,” he added.

According to him, this year’s Black Friday promotions will feature exciting offers across multiple categories stressing that Shoppers can enjoy great discounts on stand fans equipped with mosquito-repellent and air-freshness features, including the newly introduced AD 1601 AC/DC Fan, which can be linked to a solar panel for clean, free air.

“The rechargeable fan range, available in three models with replaceable lithium-ion batteries, recharges in just four hours and provides up to ten hours of cooling—enough to last the whole night,” Mr Banerjee added.

For kitchen lovers, he said the KC6000 Yam Pounder/Fufu Maker promises quick, hygienic, and effortless meal preparation while the air-fryer series, available in three models, requires just a teaspoon of oil to make crispy, tasty, and healthy fries.

“Binatone’s cool-touch kettles, models CEJ 1799 and CEJ 1700T, come with elegant digital displays and are designed for safety and convenience, he added.

To protect valuable home appliances, he disclosed that Binatone’s power range offers stabilizers in 2 KVA and 5 KVA capacities and surge-voltage protectors in 13 A30 A ratings—ideal for air conditioners.

“The company’s newly launched Power Stations, available in 1.8 KVA and 2.4 KVA variants, provide portable, plug-and-play power with solar-charging capability, ensuring reliable backup power for homes, small offices, and outdoor use”

He disclosed that customers will also find irresistible discounts on Binatone’s dry and steam irons, garment steamers, and microwave ovens thar are perfect for everyday household needs.

“The breakfast-essentials range features pop-up toasters, sandwich makers, and juicers designed to make mornings easier,” he stated. He announced that the high-powered blender collection includes durable, unbreakable jugs capable of smoothly blending hard nuts and beans.

“Additionally, Binatone has introduced the Tefal Cookware Range, offering premium non-stick pots and pans for healthy cooking, along with Freeplay solar-powered lanterns and torches, ensuring every home remains bright and energy-efficient

“Binatone’s Black Friday celebration is our way of thanking loyal customers for their trust over the years,” Mr Banerjee added.

“We are bringing quality, affordability, and innovation together, thus making this season the perfect time to upgrade your home.

”All Binatone products comes with a two-year warranty, giving customers additional peace of mind and assurance of lasting quality.

“Don’t miss these amazing Black Friday offers, available for a limited time at all major supermarkets, electronic stores, and online platforms across,” he stated.

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Wema Bank’s Top 21 Hackaholics 7.0 Grand Finale Finalists Emerge

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Wema Bank, Nigeria’s oldest indigenous bank and pioneer of Africa’s first fully digital bank, has unveiled the Top 21 finalists for Hackaholics 7.0, who will compete at the grand finale scheduled for Friday, November 6, 2026, in Lagos. Themed Festival of the Future, the grand finale will bring together innovators, technology leaders, startup founders, investors and key players in Nigeria’s innovation ecosystem for an immersive celebration of ideas, technology and the possibilities shaping the future.

 

The Top 21 finalists are: Dynalimb, Harthiq, Acceede, Vhorde, URI, Trarrk, SocialSign, RaverPay, All-Arbitrates, CitizensGage, Craft-Planet, FOID, PayByPalm, Niteonn, Nexa-AI, Neural-Forge, MamaAlert, JolliFlow, Becca, CropiQ and Middleman.

Hackaholics is Wema Bank’s youth and start-up-focused initiative, designed to provide young innovators with a platform to transform creative, technology-driven ideas into practical solutions to real-world challenges and gain a competitive edge in the global technology and digital space. Since its launch in 2019, the initiative has recorded over 21,000 applicants, engaged more than 50,000 participants, supported over 10,000 startups across three countries and developed more than 100 solutions from scratch.

The 7th edition, which commenced on July 1, 2026, attracted 5,329 participants and generated 1,632 innovative ideas and solutions across seven pitch-centre locations: Uyo, Kano, YabaTech, Benin, Ibadan, Enugu and Lagos. Following the nationwide tour, 59 participants emerged from the various centres, with the Top 21 selected through a rigorous, multi-stage evaluation process.

The Hackaholics 7.0 grand finale week will feature a three-day programme of strategic engagement and innovation-focused activities. On Wednesday, November 4, the finalists will participate in the Pre-Pitch, where they will present refined versions of their solutions. This will be followed by the Ecosystem Tour on Thursday, November 5, powered by Wema Bank, offering participants the opportunity to visit leading institutions within the technology and innovation ecosystem, interact with industry professionals and gain practical insights ahead of the final competition. The programme will culminate in the grand finale on Friday, November 6, where outstanding innovators will be recognised and celebrated.

Through Hackaholics, Wema Bank continues to demonstrate its commitment to advancing Nigeria’s innovation ecosystem by identifying emerging talent, creating opportunities for young innovators and supporting the development of solutions to real-world challenges. The initiative reinforces the Bank’s role in empowering the next generation of innovators and building an ecosystem where ideas can thrive and possibilities become reality.

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Sanusi Warns FG Against Spending Without Restraint

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Emir of Kano, Alhaji Muhammadu Sanusi II, has implied that the Federal government may not be able to achieve it’s economic reform dream if it maintains it’s present expenditure rate, declaring that Nigeria could not pursue fiscal consolidation while continuing to spend without restraint.

 

Speaking virtually to the audience at the Oxford Global Think Tank Leadership Conference, organised by the Oxford Global Think Tank, on Tuesday, the monarch said reform must go beyond removing fuel subsidies and liberalising the exchange rate, describing it as a comprehensive package that needed to address many other areas.

He said government needed to make clear spending priorities, choosing between roads, electricity, agriculture, and technology based on available resources.

The Emir also raised concerns about the size of government expenditure, saying Nigeria could not pursue fiscal consolidation while continuing to spend without restraint.

He said the World Bank had pointed out that in the first half of this year Nigeria’s debt service consumed 124 per cent of federal government revenue.

Sanusi warned that the country needed to urgently address the sustainability of its debt and pursue structural reforms that had not yet been made.

The former CBN boss said every $10 billion spent on roads was $10 billion taken away from electricity and agriculture, stressing the need for deliberate choices.

Sanusi acknowledged that Tinubu’s economic reforms had produced measurable progress, citing improvements in GDP growth, inflation, and foreign reserves.

He said GDP growth has risen from an average of 0.9 per cent under the previous administration to 4.5 per cent, describing the change as progress that deserved recognition.

“I think moving from an average growth rate of 0.9 per cent to 4.5 per cent is progress. Moving from inflation of over 30 per cent to 14.5 per cent is progress.”

“Moving from the point where in 2023 the central bank’s reserves were maybe negative to where we are now having reserves of $55 billion is progress.”

He, however, stressed that issues such as poverty, hunger, maternal mortality, malnutrition, education and healthcare remained serious concerns that the reforms has not yet addressed.

Sanusi said the government should have designed social safety net policies to soften the impact of reforms on vulnerable Nigerians from the beginning.

The former CBN boss also advised the government to tolerate constructive criticism,warning the Federal Government against treating every comment about it’s workings as an attack on President Bola Tinubu.

“It’s not every time people talk about poverty or talk about difficulty that they’re just enemies of the government or making an attack on the president. That is not how to respond to economic distress,” he said.

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