BusinessDay 14 Feb 2018

14
BUSINESS DAY
COMPANIES & MARKETS
Commerzbank remains optimistic
about doing business in Nigeria
… Marks 10th Anniversary in Lagos
C002D5556
Wednesday 14 February 2018
KEMI AJUMOBI & MICHEAL ANI
Despite tension
in the minds
of both foreign
and local investors
regarding
business activities in
Nigeria, as the 2019 elections
draw near, Olaf Schumueser,
senior representative and
managing director Commerzbank,
has expressed
a positive outlook for the
company this year.
Schumueser told BusinessDay
at the 10th Anniversary
of the Bank, celebrated
in Ikoyi Lagos that the celebration
forms part of the
company’s commitment
to the wellbeing and socioeconomic
development of
Nigeria, and showcases its
strong belief in the Nigerian
economy and continued relationship
with stakeholders
in the banking sector.
“Commerzbank Nigeria
is a leading international
financial institution, which
provides support to local
Standard insurance consultants
open corporate office in Lekki
Jumoke Akiyode-LAWANson
Standard Insurance
Consultants Limited
(SICL) one of
the foremost insurance
brokers in Nigeria has
opened its new mega corporate
office in Lekki Lagos.
The company which has
been in operation for 37
years, served both corporate
and individuals’ clientele
for all insurance needs at its
Ikoyi office prior to moving to
its permanent sight in Lekki
recently.
According to Ahmed
Olaniyi Salawudeen, chief
executive officer, SICL, the
expansion is a sign that the
company is doing well.
He also stressed that the
movement became imperative
to be able to serve its
numerous customers both
nationally and internationally
better. ‘As you know that
the firm has international
affiliations as we operate in
the United Kingdom, United
Arab Emirates, Gambia,
China and so on. The spacious
mega office will give us
opportunity to discharge our
duty better.’
commercial banks worldwide
by providing guaranteed
trade loans, and credit
to commercial banks so as
to enhance doing business,
exporting and importing in
the country,” Shumueser said.
He further added “Also,
we have been doing business
in Africa especially in
Nigeria since 1953 and it has
a long standing relationship
and long history in Nigeria.
The company appointed a
country manager earlier in
the 80’s and it took us time
to open our own office; but
now, we have six people here
on ground hence, we are here
to stay and we are here to do
business in Nigeria.”
Furthermore, Schumueser
said that the strategy of the
bank is not to compete with
the local banks, but to support
and finance them so that
they can lend money to their
Nigerian customers.
On the ease of doing business
in Nigeria, He commended
the fire power of the
Central Bank of Nigeria (CBN)
for creating an enabling environment
that allows foreign
The company specialises
in energy insurance placement,
aviation and space,
marine and general insurance,
oil and gas, construction
engineering, marine
hull and cargo, professional
indemnity, life insurance and
special risks.
SICL says that it can also
arrange good insurance for
kidnapping and ransom. The
National Insurance Commission
also recognises it as one
of the professionals in Nigeria
with business of re-insurance
programs.
The company which has
a track record of excellence,
integrity and transparency
in its dealings has won many
laurels across the globe.
In November 2017, the
company took Nigeria’s
name to the highest level
when it was awarded with
‘The Bizz Awards’, one of
the world’s most important
business awards in an annual
recognition awards
ceremony organised by the
World Confederation of
Businesses (WORLDCOB)
founded over a decade ago in
Houston, Texas, United States
of America.
The well attended award
investment to thrive as situations
are better than 2016.
“Let me start with getting
into Nigeria, now it is
much easier as we have the
visa on arrival with so much
construction going on. Things
are looking better when compared
to 2016 where we saw
scarcity of dollar. However,
this was really handled properly
by the CBN as everything
is now available and we are
looking for ways to do more
business here” Shumueser
said.
On the outlook of 2018,
he stated that the company
was optimistic about putting
everything into consideration
and assured stakeholders
of better and greater
services.
“Our outlook for 2018 is
optimistic but not over optimistic
putting everything into
consideration. Our business
will grow tremendously as
we project there will be ease
of doing business around
August-September in 2018
but when the election preparatory
ends, the economy
will kick start again in 2019,
ceremony held at Burj Al
Arab in United Arab Emirates,
Dubai saw Ahmed
Olaniyi Salawudeen, CEO
of SICL go home with an
Inspirational Award for his
outstanding contribution to
the insurance field.
With this, the company
became an Elite Member of
WORLDCOB alongside large
corporations such as Sohar
Bank (Oman), Dubai Duty
Free (UAE), Doha Bank (Qatar),
Saudi Telecom Company
(Saudi Arabia), BBK BSC
(Bahrain), National Bank of
Kuwait (Kuwait), Emirates
Identity Authority (UAE),
Ethiopia Airlines (Ethiopia),
Karabuk University (Turkey),
Credit Libanais (Lebanon),
Al Sulaimi Group Group,
(Oman), Union National
Bank (UAE) amongst other
notable global companies.
With offices in Nigeria,
Dubai, United Kingdom
and China, Standard Insurance
Consultants Limited
without doubt, has become
an authority in insurance
broking; a feat achieved
through a gradual process
spanning years of experience,
enhanced with professionalism.
L to R: Olaf Schmuser, senior representative Commerzbank Nigeria Representative office, Angela Little
Head, FI Commerzbank AG and Ingo Herbert, consular general of the Federal Republic of Germany.
despite all these, we are very
optimistic”.
Also present at the event
was Birsmach Rewane MD/
CEO Lagos-based financial
derivative, who confirmed
that the bank has been supporting
the real sector and
Economic Report February
Aghaeze Festus
West Africa’s largest
independent
fibre optic infrastructure
and
telecommunications services
provider Phase3 Telecom has
announced that it has commenced
a strategic metro
network upgrade to enhance
communications offering
which includes high-speed
broadband and turnkey telecommunications
services
for seamless regional and
multi-location connectivity
in Nigeria.
This improved operational
layout is targeted at expanding
the scope of on-going relationship
with its enterprise
clients such as Julius Berger,
have stayed steadfast in the
Nigerian business throughout
the period, even during
the time of recession when
others were pulling back.
He added further that
though the bank had rough
2016 and 2017 but, 2018 will
Nigeria.
The firm believes that
this renewed drive will allow
businesses to take greater
advantage of its network’s
robust infrastructure; network
capacity; resilient service, and
coverage to enhance communications
on projects that
support economic growth
and government reform in
the region.
That with the services provided
by Phase3, businesses
can rely on Phase3’s capacity
to interconnect its operations
with their other sites over
a dedicated link as Phase3
offers its services in several
locations in the country.
Speaking at the launch
Stanley Jegede Phase3 Chief
Executive Officer, said, “we
are honoured to be the choice
be a lot better irrespective of
anything ahead and thus sees
Commerze bank in the same
place where Nigeria will be in
five years’ time, supporting
and partnering the country
in terms diversification and
sustainability.
Phase3 strengthens solutions drive across major enterprise segment
eTranzact International
Plc ,a foremost provider
of mobile banking and
payment services has
celebrated Felix Ohiwerei,
its pioneering and out-going
chairman who has distinguished
himself as a leader
worthy of emulation.
The celebration which was
in grand style and well attended
by the board, management
and staff of eTranzact,
brand for our enterprise clients,
to provide telecommunications
services for their
several offices; we will continue
to ensure they enjoy quality
of service and exceptional
customer experience.”Noting
that Phase3 is committed to
ensuring dedicated network
reach and the delivery of
winning solutions and performances
that will boost
Phase3’s huge client base
business objectives and goals
in the region”.
“Phase3 remains uncompromising
in its aim of ensuring
existing and potential
clients across the country
leverage the investments it
has made in its aerial fibre
network to make them more
successful in their business
operations,” he stressed.
eTranzact, mobile banking firm honours Felix Ohiwerei
friends and stakeholders in
the e-payment industry, was
held at Oriental Hotel, Victoria
Island, Lagos recently.
It was an evening of music,
fun, networking and sharing of
ideas, a pleasurable moment
where the life and achievements
of the celebrant was
shared. It was also a memorable
moment, as comments
from members of the board
of the company on the contributions
of Ohiwerei to the
development of the organisation
were enumerated.
Speaking at the event, the
Founder/Chief Executive Officer,
eTranzact, Valentine
Obi, said the exemplary life of
Ohiwerei, his goodwill, strong
commitment to innovation
and creativity was a major
factor that fostered the success
recorded by the organisation
over the years.