Expanding finances for businesses across key sectors of the economy, the company also plans to deploy about ₦500 billion over the next 18 months to support growth-ready businesses in agriculture, healthcare, manufacturing, energy, logistics, and technology.

This was revealed at the 2026 edition of the Zedvance Business Roundtable, where business leaders, entrepreneurs, financiers and experts across the industry gathered to discuss how smarter financing models can strengthen businesses and unlock long-term economic growth.

The event, themed “Unlocking Growth: The Role of Smart Financing in Building Resilient Businesses,” reiterated a belief that access to the right capital, delivered through an accurate understanding of industries and business ecosystems, will be highly indispensable in bolstering Nigeria’s next phase of economic development.

In his welcome address, Adebayo Amzat, group managing director of Zedcrest Group, said the company’s focus on SMEs is rooted in their importance to the economy at large.

“Zedvance is here to do major business in the SME space across every vertical,” he said, adding that financing small businesses is one of the most effective ways to create economic impact because SMEs employ people, support local supply chains and drive activity across multiple sectors.

Amzat explained that Zedvance’s lending model is designed around ecosystems rather than isolated transactions, allowing businesses within different sectors to support overall portfolio stability.

“We don’t like transactions, we like businesses,” he said while encouraging entrepreneurs to maintain proper records, build sustainable value and operate businesses that can show track records over time.

Zedvance is directing capital towards productive sectors where financing can generate huge economic benefits, and the company plans to deploy ₦500 billion over the next 18 months in a bid to strengthen support for businesses that are ready to scale.

Amzat further explained that the objective goes beyond profitability. “Why are we doing all of this? We do not think profit is the only objective, or is the most important objective. We think that our work, first and foremost, is to increase the size of the pie,” he said.

He also highlighted the services within the Zedcrest Group, noting that businesses can access debt financing, private equity, wealth management and investment banking services through the group’s various subsidiaries.

According to him, the goal is to ensure that promising businesses can obtain the capital they need at different stages of growth.

One of the takeaways from the roundtable was that financing alone is not enough. Businesses also need trust-based partnerships, operational discipline and sector expertise.

During the agribusiness and healthcare session, experts examined the challenges businesses face in accessing timely financing and the role strategic partnerships can play in helping companies scale.

The conversation highlighted how responsive financing can strengthen supply chains, improve business confidence and enable companies to seize opportunities when they arise.

Speakers agreed that long-term growth is built on integrity, transparency and relationships that extend beyond individual transactions.

Attention later turned to the energy sector, where discussions focused on the increasing demand for financing solutions that can support renewable energy, electric mobility and decentralised power infrastructure.

Experts noted that access to capital will be critical to driving innovation across the sector, particularly as businesses and households seek reliable and cost-effective energy alternatives.

The session also explored how flexible financing models can reduce limitations to adoption by reducing upfront costs and making clean energy technologies more accessible.

With demand growing continuously, the panel pointed to significant opportunities for investment across the energy value chain, particularly in areas capable of improving productivity and reducing operating expenses for businesses.

Across both sessions, a key takeaway was that businesses thrive when financing is tailored to the specific dynamics of their industries rather than delivered through a one-size-fits-all approach.

From agriculture and healthcare to manufacturing, logistics, energy and technology, speakers stressed the importance of funding solutions that show the unique needs and growth cycles of each sector.

Zedvance is supporting businesses with the capital, expertise and long-term partnerships needed to build resilience and unlock growth through its SME lending scheme. This aligns with the needs of Nigerian businesses facing economic challenges in the sector.

With the right financing and the right partners, growth is still within reach.

The company disclosed the development in a notification to shareholders, the investing public and the Nigerian Exchange Limited, signed by its Company Secretary, ALSEC Nominees Limited.

The notice revealed that Kostianis, the former PZ Cussons Nigeria CEO, stepped down from his position and resigned from the company’s board effective May 31, 2026, as he moves to a new role within the PZ Cussons Group.

“The Company hereby notifies NGX and the investing public that Mr Dimitrios Kostianis will step down from his role as Chief Executive Officer and resign from the Board of PZ Cussons Nigeria Plc with effect from 31st May 2026 in order to take on a new role within the PZ Cussons Group,” the notification stated.

“The Board expresses its sincere appreciation to Mr Kostianis for his service and contributions to the Company and wishes him continued success.”

His departure comes after a period of recovery for the consumer goods company. During his tenure, PZ Cussons Nigeria returned to profitability and restored a positive equity position after years of financial challenges.

For the half-year ended November 30, 2025, the company reported a pre-tax profit of N37.9 billion, an improvement from the N5.5 billion loss recorded in the corresponding period a year earlier. 

Second-quarter earnings of N16.3 billion supported the turnaround, while stronger revenue, foreign exchange profits, higher other income and lower interest costs also boosted performance.

PZ Cussons said Kostianis played an important role in that recovery, helping to stabilise the business and support its growth strategy during a difficult period for manufacturers operating in Nigeria’s high-inflation environment.

Taking over from him is Elueni, who currently serves as managing director of the company’s Consumer business. He joined PZ Cussons Nigeria in 2021 and brings more than two decades of experience in the consumer goods sector.

Before joining the company, he held senior leadership positions at SC Johnson and Procter & Gamble across Africa and the United States. 

His experience spans commercial operations, brand management and business leadership in both Nigerian and international markets.

Announcing the appointment, the board said, “The Board has approved the appointment of Mr Oghale Joseph Elueni to the Board of Directors as Managing Director/Chief Executive Officer of the Company with effect from 1st June 2026.”

“The Board is confident that his leadership capabilities, commercial experience, and deep understanding of the business will support the continued growth and strategic direction of the Company.”

The appointment places an executive with vast consumer goods experience to lead the company as it seeks to build on its recent financial recovery and strengthen its place in the competitive market.

The board also approved the appointment of Ebenezer Oludare Elusakin as executive director and chief financial officer, effective June 1, 2026.

Elusakin has served as Chief Financial Officer since November 2024 and has been involved in the company’s financial management and strategic planning. Before joining PZ Cussons Nigeria, he held finance leadership roles at Unilever, Diageo and Royal Philips.

The figures obtained from the NBS Q3 Foreign Capital Importation, represents a drop of around 216.46% when compared with the figure for the previous quarter which stood at $605.04 million.

According to the report, on a year-on-year basis, FDI to the manufacturing sector declined by 71.2% from $392.54 recorded in Q3, 2022 to its figure in the quarter under review.

However, in the first nine months of 2023, the manufacturing sector received around $1.14 billion in foreign capital.

This represents an increase of $415.82 million when compared to the $724.75 million received in the same period of 2022.

The report also disclosed that the decline in foreign capital is not unique to the manufacturing sector but to the general economy in Q3.

Total capital importation for Q3 stood at $654.65 million which represents a drop of 36.45% when compared to the figure recorded in Q2 ($1.03 billion).

Every year, foreign capital declined by 43.55% from the $1.16 billion recorded in the same quarter of 2022.

It would be recalled that the manufacturing sector in the past few years has been faced with a series of problems that have curtailed its growth.

These problems include; rising foreign exchange rates, high energy costs occasioned by epileptic power supply, multiple taxation, inflation.

A review of the performance of some manufacturing firms listed on the NGX reveals that 8 companies recorded a foreign exchange loss of -N129.811 billion while only three of these companies recorded a foreign exchange gain of just N3.49 billion.

This coupled with the difficulty of multinationals in the manufacturing space to repatriate cash has resulted in notable exits in recent times. (Independent).

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