Africa
By Anthony Isibor
THE MCB has announced the appointment of Abiodun Azeez as its new Representative Officer in Nigeria.
Abiodun Azeez will assume his new role with a wealth of experience in the banking sector and a deep understanding of the African market, needed to strengthen MCB’s presence in Nigeria and enhance engagement with the Nigerian corporate sector.
According to the press statement announcing his appointment, MCB said that Azeez’ extensive experience and strategic vision would “contribute to our mission of connecting Africa with MENA and support the growth of the Nigerian economy”.
As the Chief Representative Officer in Nigeria, his primary objectives include strengthening MCB’s presence in Nigeria by being closer to existing clients, particularly in the oil and gas and financial institutions sectors, growing MCB’s share in the corporate segment by developing new relationships that meet the parameters for its Global and International Corporates, GIC, and covering sectors such as manufacturing, trading, private equity, telecommunications, and FinTechs.
A background check of Azeez shows that Prior to joining MCB in 2021, he was the head, Africa coverage for a Middle East Bank, facilitating trade flows and raising capital into Africa.
The MCB reports that recognizing the significant knowledge gap and the need for a reliable partner in Africa, Azeez saw to the establishment of the Dubai Office as the “Perfect Platform to engage with Middle East and North Africa, MENA, players interested in Africa.
“His experience in the Dubai Advisory Office, which aimed at connecting Africa with MENA, has equipped them with valuable knowledge about the sectors of interest in Nigeria for MENA corporates.”
MCB notes that Abiodun intends to adopt a collaborative approach with local financial institutions to complement each other’s strengths and support the corporate sector. Leveraging the Mauritian International Financial Centre and MCB’s strengths. Speaking about the opportunities provided by the Nigerian market to Mauritius and MCB, he states: “the prevailing macro-economic situation in Nigeria presents an opportunity for the Mauritian International Financial Centre, MIFC,, to position itself as a viable gateway for foreign direct investments, FDIs, and foreign flows required to simulate activity and strengthen the local currency. I believe that the strengths of MIFC and MCB will be instrumental in achieving these objectives and supporting Nigeria’s goal of becoming a $1 trillion GDP economy by 2030.
“Addressing challenges Abiodun is confident that MCB can support businesses across regions, despite Nigeria’s challenging business environment. “Nigeria is currently implementing economic reforms, and the business environment is challenging due to high interest rates, exchange rate instability, and infrastructure deficits.
MCB’s relationship model aims to become a partner bank with the ability to support businesses across regions. Our product offerings include account services, trade finance solutions, and financial markets, with the capacity for financing in foreign currency at competitive terms,” it said.
Commenting on Azeez’ appointment, Thierry Hebraud, Chief Executive Officer, CEO, MCB Ltd described Azeez’s appointment as an important milestone in MCB’s strategy, as the company gradually expands its presence and strengthen its operations on the African continent.“With his deep understanding of the region and experience, Azeez will play a key role in driving our growth initiatives in Nigeria and the region and enhancing our relationships with stakeholders in his coverage areas. His appointment is also very relevant to the MIFC in its endeavors in positioning itself as a gateway for FDIs, and a strong business and investment centre, which aims at participating actively in the economic empowerment of Africa.”
A.I
Nov. 29, 2024
Tags: Abiodun Azeez Anthony Isibor MCB
