Wema Bank, BoA Group Sign Multi-currency Agreement
Wema Bank has signed a multi-country partnership agreement with Bank of Africa Group (BoA) as it looks to facilitate bilateral trade services for its customers across Africa.
The partnership agreement was executed by its Managing Director/CEO, Ademola Adebise, and CEO of BoA Group, Amine Bouabid.
The Head Brand and Marketing Communications, Wema Bank, Mrs Funmilayo Falola and BoA Group Chairman, Brahim Benjelloun Touimi and other executives of both banks.
Under the terms of the agreement, the two financial institutions committed to deepening the relationship between them around the Pan African trade ecosystem (trade facilitation, correspondent banking among others).
Speaking on the partnership agreement, Adebise said: “At Wema Bank, digital innovation is in our DNA and we are bringing that same creativity to our partnership with BoA. This partnership will allow us to expand and redefine the galaxy of opportunities available to our individual and corporate customers as we lead them into the African continent off the back of the new African Continental Free Trade Agreement. With this partnership, our customers will now have seamless business transactions across countries with Bank of Africa’s presence.
It is an absolute joy for us to be able to make doing business easier for our customers in partnership with the Bank of Africa.”
Adebise also added that both banks will further benefit from an opportunity to promote bilateral trade services which will include Import and Export services, Bonds and Guarantees, and Structured Finance collaborations under the new partnership agreement.
On behalf of the BoA, Bouabid said: “We are very happy to conclude this partnership with Wema Bank because it is in line with our will to always offer innovative, simple and useful solutions to our customers, and in this case in particular, to the companies that trust us. I hope that the link we create between woman Bank and BoA will facilitate and therefore increase economic exchanges with this great country that is Nigeria.”
I also see it as an example of collaboration between a Francophone Africa and an Anglophone Africa that must absolutely be encouraged and duplicated. Lastly, I would like to remind you that the Group I head is present in both French and English speaking Africa and that it plays its full role as an economic integrator. “