Consistent with its vision to be a major financier of trade deals across the West African region and beyond, Rand Merchant Bank Nigeria Limited is aiming to finance $1.2 billion trade deals in 2015.
The target, the bank says, is a 20 percent leap from the deals it financed in 2014 valued at nearly $1 billion – one of which was $150 million for Dangote’s refinery.
Disclosing this to BusinessDay in an exclusive interview, Tosin Olatunji, head, trade sales, RMB, says the bank also aims to be a dominant player in the country’s quest to boost investments.
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Olatunji, who is also enthusiastic about the prospect of Nigeria’s trade potential, says “because of the enormous opportunities in Nigeria, we are excited about the market and we see Nigeria as a very big market, maybe at some point bigger than South Africa.”
According to him, though the country is still plagued with some infrastructural challenges, opportunities still abound.
“Some of the challenges which we face, such as power, lack of adequate infrastructure; as much as these challenges hurt us, we are also keen on addressing them, and this for us presents immense business opportunities,” he said.
RMB’s suite of corporate financial solutions range from transactional banking and cash management to cross-border trade, multi-asset investments, working capital finance and risk management solutions.
ODINAKA MBONU
