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Afribank receives Most supportive bank for franchise financi


March 31, 2008


Afribank Nigeria Plc has received the “Most Supportive Bank” of the Year Award for 2007 at the UAC Franchising Award.


At the Award ceremony which took place last Friday at Novotel, Afribank emerged the winner of the Award among other finance providers to UAC Franchising, for its outstanding application of initiatives in transforming UAC franchising business.



The Divisional Managing Director of UAC Franchising, Mr. Marc Schrueder, explained that Afribank distinguished itself in franchising finance through a unique blend of the business processes of  stakeholders and the implementation of best business practices in banking. He listed efficient service delivery, effective cash management, friendly facility pricing and offer of free business and financial advisory services to franchisees as areas in which Afribank performed excellently. He added that the Award was in recognition of “merit and achievement”.



Mr. Schrueder noted that Afribank’s understanding of franchising business and its application of flexible financing are responsible for the growing impact of franchise business in the country and the growth of entrepreneurs embracing franchise business in Nigeria today.



Mr. Olukayode Olatoye, Principal Manager, Consumer & Retail Banking, who received the Award on behalf of Afribank, thanked the organizers of the Award for the public acknowledgment of the giant strides the Bank had made in the franchising business, assuring that the Award would propel it to improve on its service delivery and support to franchisees.



He added that Afribank will continue to encourage Nigerian entrepreneurs to acquire UAC Franchise to enable them operate popular and world-class restaurant brands such as Mr. Bigg’s, Village Kitchen, Creamy Inn, Pizza Inn, Nandos both in and outside the country.



Mr. Olatoye noted that Afribank, through the UAC Franchise business, is committed to building a new generation of business owners that could be banked upon to build global brands in the business world.



He said further that the Bank believed strongly in the franchising business as a platform to empower Nigerians. The Bank has created a desk to support growth of franchisees pan Nigeria.


The Award Night was a double celebration for the Bank as Alhaji Yayaha, CEO of DAFAHA NIG. LTD, a franchise operator in Jos and a customer of Afribank Nigeria Plc, emerged the over all winner having been adjudged the best franchise operator for 2007. Alhaji Yahaya further acknowledged the quality relationship between the bank and franchisees. 

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