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Zenith Bank MD seeks increased impact investment in Africa

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Zenith Bank
Group MD/CEO of Zenith Bank, Ebenezer Onyeagwu

The Group Managing Director/Chief Executive Officer of Zenith Bank, Ebenezer Onyeagwu, has demanded an increase in impact investing on the continent for it to attain its full potential.

Onyeagwu made the demand on Sunday, August 1, while speaking at the Africa Investment Risk & Compliance Summit 2021 organised by the Emerging Business Intelligence & Innovation Group which was held recently at the University of Oxford, United Kingdom.

Onyeagwu noted that impact investment was one that yields optimal returns for investors and guarantees value for stakeholders and society in general.

According to him, African market was not deep enough as no African Exchange was among the Morgan Stanley Developed Markets index while only two exchanges in Egypt and South Africa made the MSCI Emerging Markets Index and six on the MSCI Frontier Market Index.

He said: “Therefore, I implore investors in the agribusiness value chain to focus attention on Africa for organic food production, instead of genetically modified food in other climes.

“As a socially responsible organisation, Zenith Bank continues to promote impact investment in Africa.

“For example, the bank has maintained strong advocacy for investment in Africa through its flagship sponsorship of ‘Inside Africa’ on CNN for 16 consecutive years.

“This is helping to highlight the immense creativity and talent that abound on the continent and the enormous investment opportunities. The bank leverages its in-depth knowledge of the African market to guide investors and hedge their exposures.”

Techeconomy.ng previously reported that the bank expressed its readiness to reward its shareholders with an improved dividend payout of N94.19bn in fulfillment of its initial promise.

The bank made this known during its 30th annual general meeting in Lagos, its shareholders unanimously approved the proposed final dividend of N2.70 per share, bringing the total dividend payment for the 2020 financial year to N3 per share with a total value of N94.19bn.

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Techeconomy.ng obtained this from a financial statement of the bank titled ‘Zenith Bank rewards shareholders with an improved dividend payout of N94.19bn’.

This is coming on heels of the recent release of the bank’s audited financial results for the 2020 financial year.

 

 

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