Fidelity Bank Boosts Nigeria’s Non-oil Exports With FITCC Houston

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 Fidelity Bank Boosts Nigeria’s Non-oil Exports With FITCC Houston

The eagerly anticipated second edition of the Fidelity International Trade and Creative Connect (FITCC) commenced with enthusiasm on Tuesday, October 24, 2023. Fidelity Bank Plc, a leading financial institution, played host to a diverse audience including businesses, regulators, members of the diplomatic corps, and other esteemed guests at the opening ceremony held in Houston, Texas, United States of America.

Dubbed FITCC Houston, this two-day event aims to achieve several objectives, including increasing the pipeline of Nigerian businesses exporting to the US market, offering more ethnic product options to the diaspora market, and empowering exporters to enhance product quality and meet international standards.

Mrs. Nneka Onyeali-Ikpe, MD/CEO of Fidelity Bank Plc, welcomed participants and emphasized the necessity for businesses to seek viable alternatives in the face of global developments. She highlighted the imperative for businesses to cater to an international customer base to mitigate currency devaluation risks, expand product reach, and ensure long-term sustainability. The FITCC initiative, created in 2022 with the inaugural expo in London last November, seeks to bridge these gaps by facilitating cross-border offerings and collaborations.

The expo featured over 160 businesses from Nigeria and the US across various industries, including fintech, commodities, fashion, cosmetics, services, creative, agriculture, and extractive sectors within the non-oil domain. Notable exhibitors included Oriki Spa, with the Founder/CEO, Joyce Awosika, expressing anticipation for an impactful customer experience.

A significant highlight of the event was the signing of a $40 million pre-export finance facility for JohnVents Industries, one of the exhibitors. AFREXIM Bank will provide the loan, with Fidelity Bank serving as the local administrative agent. Mrs. Onyeali-Ikpe expressed delight at the opportunity, highlighting its significance in the Nigerian cocoa market and the potential to meet the demands of off-takers in the US.

FITCC Houston's first day concluded with a fashion show titled "The Connect Plus Fashion Show," showcasing unique Nigerian designs from labels such as Bijelly Couture, Eclectic Chique, and MODChic. The event provided networking opportunities for participants.

Fidelity Bank, ranked among the best banks in Nigeria, operates as a full-fledged customer commercial bank with over 8 million customers across 251 business offices in Nigeria and the United Kingdom, as well as digital banking channels. The bank has received accolades such as Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 from the Global Banking and Finance Awards, as well as recognition for "Fastest Growing Bank" and "MSME & Entrepreneurship Financing Bank of the Year" at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

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