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  • Stanbic IBTC Bank, IE Business School partner on loan finance deal
 

Stanbic IBTC Bank, IE Business School partner on loan finance deal

Stanbic IBTC Bank, IE Business School partner on loan finance deal

by magna / Thursday, 21 May 2015 / Published in Capital Market News

Stanbic-IBTC-28032011-150x86

BY CHINENYE ANUFORO

Stanbic IBTC Bank, and IE Business School, a leading busi­ness school in Spain, have signed a direct financing agreement to help people acquire relevant skills in entrepreneurship and busi­ness.

The parties signed the MoU in Lagos on Tuesday to kicks-tart the partnership in which the bank will provide loan facilities for students enrolled in IE’s top ranked MBA pro­grammes. IE is ranked 3rd Business School in Europe by the Financial Times. Its Global Executive MBA was recently ranked number 1 by the Economist.

The collaboration, which will be operative for an initial period of one year from May 2015, and renewable for an­other year, covers financing for IE’s MBA and Executive MBA programmes.

Stanbic IBTC Bank will finance a part or the total cost of the programmes which IE offers to qualified candidates who have been accepted to the programme. The financ­ing will come in the form of an Unsecured Personal Loan (UPL).

Speaking at the event, Ex­ecutive Director, Personal and Business Banking, Stanbic IBTC Bank, Obinnia Abajue, said the partnership fits into the institution’s goal of foster­ing economic empowerment through strategic interven­tions that enable individuals and businesses realize their aspirations.

He noted that it was the pursuit of this objective that informed the creation of the Stanbic IBTC Business Lead­ership Series, which made its debut last year, to build a new cadre of leaders among peo­ple and businesses in Nige­ria. Similar capacity-building initiatives spanning various sectors of the economy, in­cluding MSME, transport and logistics, trade and finance have also been organized by the Stanbic IBTC Group on an ongoing basis to support individuals and businesses, Obinnia stated.

On his part, IE’s Vice Chairman, Diego Del Alca­zar Benjumea, who noted that the institution is dedicated to building business leaders worldwide, stated that Stanbic IBTC Bank was chosen for the partnership after a thor­ough appraisal revealed its uncommon commitment to multi-sectoral capacity-build­ing and economic empower­ment.

Having become Africa’s biggest economy, with its rebasing throwing up previ­ously underreported sectors such as telecommunications, entertainment, and retail, IE´s Country Director, Eniola Har­rison, said Nigeria requires, in both the public and private sectors, a critical mass of skilled manpower to drive its future growth, while sustain­ing its growing international profile and reputation.

Source : SunOnline

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