Sterling Bank Partners with Opportunity Network to Facilitate Trade
Sterling Bank, a full service national commercial bank in Nigeria has partnered with Opportunity Network, a digital deal match-making platform for vetted businesses and investors to connect to reliable trade partners globally. The company’s partnership with Sterling Bank aims to enhance international trade between Nigeria and the rest of the world.
Opportunity Network will provide businesses with opportunities in sales, mergers and acquisitions, capital raising, company sales, and so on.
Managing Director of Sterling Bank Plc, Mr. Abubakar Suleiman, who spoke during the unveiling of the partnership in Lagos, revealed that the collaboration would enhance international trade and would allow for interaction of trusted partners.
According to Suleiman, “as we think of the world becoming flat and trade becoming globalised, the one question Nigeria faces is who to establish trust for corporates outside Nigeria. When I present myself as a Nigerian business, how does a counterpart from Europe, America or Asia determine if I can be trusted. Because in the absence of trust, the cost of doing business for the country becomes limiting. So what Opportunity Network has developed is a platform that makes it possible for us to establish trust despite the physical distance that exists.”
He noted that Sterling Bank was committed to ensuring that businesses grow and connect with local and international partners. He said “Opportunity Network is that trusted place where trusted partners can interact. With this partnership, our customers will benefit because through the network, more cross border transactions will be done.”
Also speaking on the partnership, Managing Director of Opportunity Network Nigeria, Adriana de la Cruz Duffo, said the platform aggregates high-quality commercial, mergers and acquisitions, and capital related opportunities from around the world into one single, online location.
She said “A lot of opportunities posted on the platform are European investors looking to invest in healthcare in Africa, education, technology and all of this comes from a place a trust because every investor has been vetted by a bank in their country.”
Adriana added that “we have seen that when Nigerian companies post deals on the platform, they get connected within the first 24 hours because the world is looking to do business in Nigeria.”
The General Manager of Corporate Banking, Sterling Bank, Mrs. Mojisola Bakare said “this network is basically a business tool for us to use in our businesses. It is a tool that gives us the opportunity for investors outside Nigeria to see those who have things to sell to be able to have a platform that leads the buyers to the seller.”
Opportunity Network is a private, invitation-only network and business match-making platform where business owners, CEO and high network individuals are carefully selected and vetted by a financial institution.