About 376 employees of Fidelity Bank Plc have been promoted after the conclusion of its annual performance review exercise.

The lender confirmed this promotion via an internal memo to members of staff of the organisation. The workers elevated amount to 12 per cent of the organisation’s workforce, gathered.

Also, Fidelity Bank announced a 20 per cent increment in the salaries of its total employees, underscoring its management’s deep appreciation for the pivotal role played by staff in recoding the highest growth by percentage volumes in the banking industry with 210 per cent increase in its Profit Before Tax (PBT) which grew from N124.3 billion in 2023 to N385.2 billion in 2024.

Recall that in November 2024, the company embarked on an upward review of workers’ pay, a gesture that reflects the bank’s commitment to staff welfare.

Under the leadership of Mrs Nneka Onyeali-Ikpe, Fidelity Bank has consistently outperformed market expectations. In 2024, the bank recorded the highest share price growth of 116 per cent in the industry following the completion of its Public Offer which was oversubscribed by 238 per cent.

In recognition of the banks stellar performance, global rating agency, Fitch Ratings recently upgraded the bank’s national long-term rating from ‘A(nga)’ to ‘A+(nga)’ in a further endorsement of the bank’s financial strength and prudent management.

The upgraded ratings reflect improved profitability metrics and robust capital buffers, reinforcing the bank’s sustained upward trajectory.

Top African fintech unicorn, Moniepoint, has been awarded in two categories— Corporate Banking and Digital Wallets— at the IBS Intelligence (IBSi) Digital Banking Awards 2025.

The accolades recognize Moniepoint’s significant impact in advancing financial inclusion and operational efficiency through its innovative digital banking initiatives across the continent.

Moniepoint earned dual recognition with the Corporate Banking award for its end-to-end digital platform empowering SMEs across emerging markets through simplified working capital access and streamlined payment processes, while also being honored in the Digital Wallets category for its scalable wallet infrastructure that enables millions to seamlessly transact, save, and manage finances—both innovations supporting broader financial inclusion and economic empowerment goals.

The IBSi Awards jury highlighted Moniepoint’s achievement in delivering measurable business impact, its ability to scale efficiently, and its pioneering approach to integrating local market needs with cutting-edge financial technology.

The IBSi Digital Banking Awards recognize technology implementations and innovation across digital banking units worldwide.

Moniepoint powers over 10 million businesses and individuals with access to seamless payments, banking, credit, and business management tools since 2019. With over 1 billion transactions monthly and total payments volume exceeding $22 billion, Moniepoint enables businesses to digitize their operations and thrive in Africa’s rapidly evolving economy.

This year, more than 110 submissions from over 30 countries were evaluated and recognised outstanding achievements among digital-only banks, neo-challenger banks, and the technology partners driving digital transformation worldwide.

“We are thrilled to be recognised in two highly competitive categories,” said Mr Tosin Eniolorunda, CEO of Moniepoint. “These awards validate our mission to power the dreams of African businesses and individuals by building technology that works for everyday realities. Whether it’s helping SMEs grow or enabling simple, fast, and secure transactions for millions, we remain committed to delivering impactful solutions.”

“These recognitions from IBS Intelligence reflect the hard work of our teams and partners, and the deep trust our users place in Moniepoint,” Mr Eniolorunda added.

“We look forward to continuing to innovate and scale inclusive digital financial services that shape the future of banking across Africa.”

Mr Nikhil Gokhale, Director of Research and Digital Properties at IBS intelligence, said, “Over the years, we’ve witnessed a remarkable transformation in the digital banking space — from the rise of nimble neobanks to the digital reinvention of traditional institutions.

“The IBSi Digital Banking Awards honour this evolution by recognising technology-led excellence across the global banking landscape. Now in its fifth edition, the awards continue to recognise banks that are redefining the digital banking landscape through bold strategy, customer-centric thinking, driving innovation, inclusion and meaningful impact.”

According to a statement, the neobank said the awards complement and validate its market leadership having been listed for three years in a row in the CB Insights annual Fintech 100, a list of the 100 most promising private fintech companies in the world and described as high-momentum companies shaping the future of financial services as well as being by the Financial Times as one of Africa’s fastest-growing companies for two consecutive years.

The African Export-Import Bank (Afreximbank) has reiterated that it will remain strong despite recent issues associated with the lender.

In his address at the opening of the Afreximbank Annual Meetings (AAM) held in Abuja on Wednesday, Senior Vice President Afreximbank, Mr Denys Denya, noted that at its establishment 32 years ago, Afreximbank faced a lot of resistance from within and outside the African continent but it has remained resilient.

Recall that earlier this month, Afreximbank heightened scrutiny and funding challenges following a Fitch downgrade over sovereign debt risks, disputed preferred creditor status in restructurings with countries like Ghana and Zambia, and growing concerns about its loan exposures and transparency.

In his words, he said, “I want to remind us that the establishment of Afreximbank was Africa’s response to the confluence of crisis during that time, but the establishment of afriximbank was also met with fierce resistance, both from within and without Africa.

“It was clear that those with that goal wanted to perpetuate the culture of dependence and hinder development of the continent that led such resistance. Notwithstanding the fearsome position to its creation, uncertainty has ascended into systemic relevance, supporting current clients and continental development escalations.”

“Over the last 32 years, Afreximbank has grown from modest beginnings to become a symbol of African financial fortitude, from an initial capital base of $750 billion relatively small amount by international standards, the bank has expanded its capital assets to over 40 billion.”

According to the VP, the 2025 Meeting would “consequential impact and alter the development trajectory of our continent.”

Giving insights into the Trade and Economic Oultlook, Afreximbank’s Chief Economist, Dr Yemi Kale, said despite the challenges, Africa remained resilient.

He said that in the face of the trade tariffs crises, “Our weakness in the global trade has reduced the impact of the global economic dynamics.”

He said the bank expected trade to increase, growth to continue and the average continental inflation rate to reduce from the current level of 19 per cent to about 15 per cent.

The report, he said, estimated growth at 4 per cent to be achieved through greater intra-African trade and more support from multilateral financial institutions in the region.