Editorial

Odunayo Eweniyi of PiggyVest recognized as 2019 SME Entrepreneur of the Year in Wealth and Society in West Africa

Through discipline and a flexible system, PiggyVest encourages users to make automated savings by transferring their money from their debit card to their digital account according to their specific auto-save instructions

 

Lagos, April 25th 2019 - A total of four awards were presented at this year’s Wealth and Society West Africa Awards Ceremony. The award ceremony was held in conjunction with a Roundtable Dialogue of private bankers, impact investors, and related parties which discussed the latest developments in impact investing in West Africa, at the Eko Hotel Lagos, Nigeria.

 

A vision and business model that effectively uses fintech to deliver a social impact

Through discipline and a flexible system, PiggyVest encourages users to make automated savings by transferring their money from their debit card to their digital account according to their specific auto-save instructions.

According to the co-founder Odunayo Eweniyi, the motivation behind the project is due to the reality that most business in Nigeria is conducted in cash, in bulk due to the lack of an effective credit system. This means that 80 percent of the population needs to save about 40 percent of their monthly income to be able to meet up with their responsibilities.

With the inflation rate between 11 to 12 % currently, retail depositors can be losing money leaving their money with a bank. By pooling investors’ funds the company can offer their users 10 - 13% interests on savings.

 

National Pioneer in ESG and Socially Responsible Investment Funds

Stanbic IBTC Asset Management Limited was recognized as a pioneer in ethical financial products and alongside its Imaan fund based on Sharia principles, their Ethical Fund is Nigeria’s first quoted socially responsible mutual fund and accounts for one third of the Ethical Funds Sector in Nigeria.

 

Nationally best performing Retirement Fund 4

With a proven record of finance tracking and the protection of investments, Stanbic IBTC Pension Managers Limited Retiree Fund 4 was the best performing fund in its category for 2018.with a YTD return of 15.54% compared to the average of 12.66% for Retiree Fund 4 in Nigeria.

 

Largest Retirement Savings Account Fund in Nigeria.

Stanbic IBTC Pension Managers Limited currently manages the largest Retirement Savings Account Fund (RSA) in Nigeria with current total assets under management registering over 2.3 trillion out of a total in Nigeria (Funds I –IV) of NGN6.58 trillion as of the fourth quarter of 2018.

 

Utlising technology designed for low-infrastructure environments to deliver a consistent service at scale. 

Using what it calls the ‘school in a box’ model, a highly-standardised approach with scripted lessons and the development of an innovative technology platform focused on data gave Bridge International Academies the ability to deliver a consistent service at scale. 

Utilising technology created in Silicon Valley which is compatible with 2G devices, the system is designed to work in low-infrastructure environments and rural conditions – providing access to education to some of the most underprivileged children.

The Global Wealth and Society programme opened in London in 2018 out of the belief that wealth can be a force for good. As such we look for instances everywhere in the world where wealthy individuals, institutions and funds were targeted to make an impact in their local communities or the world at large

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For specific details relating to description of the awards, evaluation criteria and process, kindly visit http://www.wealthandsociety.com/theglobalwealthandsocietyawards/criteria.

For all Wealth and Society Awards West Africa 2019 photos, please visit https://www.facebook.com/pg/wealthandsociety/photos/?tab=album&album_id=461478187929769

 

For media enquiries, please contact:

Alfred Labiccasi

Marketing Manager

Wealth and Society

Tel: +44 1823 711134

alabiccasi@wealthandsociety.com



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