Stanbic IBTC, Embraer plan to support aviation environment for growth in Nigeria

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    Stanbic IBTC Bank and Brazil based aircraft manufacturing giant, Enbraer are creating an enabling environment to support Nigeria’s aviation industry.

    This was the consensus of stakeholders at a recent interactive aviation session organised by Stanbic IBTC Bank PLC, a member of Stanbic IBTC Holdings, in collaboration with Embraer in Lagos. The session attracted players across the aviation spectrum including aircraft manufacturers, airlines, investors, pilots, lessors, bankers, insurers, engineers, travel agencies, air travellers and aviation service companies.

    Chief Executive, Stanbic IBTC Bank PLC, Demola Sogunle, said the bank realised the correlation between a vibrant aviation industry in Nigeria and economic growth hence took up the initiative to support the development of the sector, in collaboration with other stakeholders.

    He added that some of the areas where the Bank can offer financial service solutions are aircraft financing and leasing, advisory services, asset financing, aviation infrastructure development, and capacity building.

    Sogunle noted that Standard Bank Group, to which Stanbic IBTC belongs, has over 155 years of banking experience in Africa and has been active in supporting the development of industries across the continent.

    Fatima Saad, Customer Service Manager (L) Toyin Olajide, COO Air Peace (M), Toni Ukachukwu, CEO Aviators Africa
    Demola Sogunle, CEO Stanbic IBTC (L) and Toni Ukachukwu
    Toni Ukachukwu (L) and Gad Wavomba, Embraer’s Sales Director, Africa

    The Group, he reiterated, boasts of leaders in different market segments, in affirmation of its status as an end-to-end financial services solutions provider.

    In addition, Stanbic IBTC Bank PLC is the only financial institution in Nigeria with the AAA rating by global rating firm, Fitch Ratings. He also stated that the strategic alliance between the Industrial and Commercial Bank of China (ICBC) and Standard Bank has the clout and resources to support the Nigerian aviation sector to overcome its current challenges. ICBC holds 20% stake in Standard Bank, while the latter owns 64.4% in Stanbic IBTC. “When we say Africa is our home, we mean every word of it. Supporting the continent’s development is a task we take very seriously”, Sogunle stated.

    On its part, Embraer is seeking entrance into the Nigerian market. Represented by director of sales, Africa, Gad Wavomba, Embraer is aims to assist the growth of aviation industry in Africa through the sales of fuel efficient and high performance aircraft that suit both domestic and regional flights in this clime. “We are not just interested in selling aircraft alone but providing professional after sales services that will make airlines optimise their operations thereby increasing profitability”, Wavomba said.

    Wavomba said Embraer recently launched a regional jet, E195 – E2, the profit towards meeting the above objective. In addition, a simulator was built in Johannesburg, South Africa where pilots who fly the aircraft in the continent can get trained and do refreshers thereby eliminating the need to travel outside Africa to get trained.

    Also at the session was keynote speaker and chief executive officer, African Aviation Services, Nick Fadugba, who made a presentation on the backdrop of Africa’s below par performance in air transportation. He highlighted three key ingredients that will be helpful in halting the trend; these are having strong airlines, hub airports and an enabling environment. “These steps will improve connectivity and convenience, increase safety and aviation infrastructure, as well as enhance competition, drive down costs and raise efficiencies”, said Fadugba

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