Zenith Bank boss steers it to victory in four categories
By Jeph Ajobaju, Chief Copy Editor
Ebenezer Onyeagwu, Zenith Bank Group Managing Director/Chief Executive Officer (CEO), carted home five laurels in Lagos at the weekend, one for himself and four for the bank he has piloted to multiple wins in his two years at the helm.
He emerged “CEO of the Year” for the second year running at the Sustainability, Enterprise and Responsibility (SERAS) CSR Africa Awards. CSR stands for Corporate Social Responsibility.
The judges said they selected him for a number of reasons, including his facilitation of continued investment in social initiatives that support the United Nations Sustainable Development Goals (SDGs).
Social investments of Zenith Bank totalled N3.285 billion in 2020, about 2 per cent of its profit after tax.
The judges also rewarded Onyeagwu’s commitment to sustainability and responsible business practices in Zenith Bank that encourages best practices in the banking industry, and for championing reduction of carbon emissions in the bank’s operations.
Zenith Bank itself won
- “Best Company in Reporting and Transparency”
- “Best Company in Infrastructure Development”
- “Best Company in Gender Equality and Women Empowerment”
- “Most Responsible Organisation in Africa”, a most coveted award
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The judges gave the following reasons for the four awards the bank won:
Best Company in Reporting and Transparency
Zenith Bank was rewarded for its consistency in disclosing and communicating its sustainability journey and progress annually vis-a-vis environmental, social, and governance (ESG) goals.
These are in line with the guidelines and protocols of the Global Reporting Initiative (GRI), Nigeria Sustainable Banking Principles (NSBP), NigerianExchange (NGX), United Nations Global Compact (UNGC), and United Nations Environment Programme Finance Initiative (UNEP FI).
The bank ensures the assurance of its sustainability report by reputable independent third parties.
Its 2020 sustainability report was assured by PricewaterhouseCoopers (PwC) in 2021, it was published on the bank’s website for public consumption, and sent to all stakeholders, including the United Nations Global Compact (UNGC).
Best Company in Infrastructure Development
Zenith Bank was voted winner for its nation building initiatives and investments, including supporting basic services and functional security, governance, and economic and infrastructure systems.
The bank has supported the Lagos State Security Trust Fund with N500 million for the provision of security-enhancing facilities and infrastructure, besides contributions to other state security trust funds.
This demonstrates its commitment to the development (reform, restructuring, and rebuilding) of the police to preserve law and order, protect life and property, and for law enforcement in Nigeria.
Best Company in Gender Equality and Women Empowerment
Zenith Bank was commended for its Z-Woman initiative which offers credit facilities to women-owned businesses at a single-digit interest rate and for a gender-balanced workforce. Women make up about 50 per cent of its employees.
The number of women and women enterprises the bank supported through tZ-Woman grew 88.7 per cent from 391 in 2019 to 738 in 2020.
Most Responsible Organisation in Africa
Zenith Bank was given the overall best sustainability award for its commitment to sustainability and CSR in its immediate community and the society at large.
SERAS backstory
SERAS is an initiative of TruCSR which celebrates and promotes investments by corporate organisations through CSR and sustainability initiatives.
It made its debut in 2007 and participation was opened to other African countries in 2016. The 2021 awards featured 387 projects by 97 organisations across Africa.
The SERAS Jury Board comprises global thought and best-practices leaders from around the world such as
- Maria Sillanpaa (Finland)
- Nyasha Gwatidzo (Zimbabwe)
- Adesuwa Onyenokwe (Nigeria)
- Amjed Achour (Morocco)
- Charles Ojei (Nigeria)
- Ellen Gunning (Ireland)
- Gina Din-Kariuki (Kenya)
- Indira Kartallozi (England)
- Lampe Omoyele (Nigeria)
- Paul Kapelus (South Africa)
- Scott Walker (England)
About Zenith Bank
Zenith Bank has grown enormously in three decades to become Nigeria’s largest and one of Africa’s largest financial institutions by Tier-1 Capital, with shareholders’ funds of N1.1 trillion ($2.64 billion) as of December 31, 2020.
It distinguishes itself in the Nigerian financial services industry through superior service offerings, unique customer experience, and sound financial indices.
Zenith Bank is the clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of alternative channels that ensure convenience, speed, and safety of transactions.
Recent awards
Zenith Bank has won numerous awards in recent years for excellent performance and commitment to global best practices.
Among other awards, Zenith Bank won
- Best Company in Reporting and Transparency in SERAS CSR Africa Awards 2021
- Best Company in Infrastructure Development in SERAS CSR Africa Awards 2021
- Best Company in Gender Equality and Women Empowerment in SERAS CSR Africa Awards 2021
- Most Responsible Organisation in Africa in SERAS CSR Africa Awards 2021
- Number One Bank in Nigeria by Tier-1 Capital in the 2021 Top 1000 World Banks Ranking published by The Banker Magazine
- Best Commercial Bank in Nigeria in World Finance Banking Awards 2021
- Best Bank in Nigeria in Global Finance World’s Best Banks Awards 2021
- Best Corporate Governance Financial Services Africa 2021 by The Ethical Boardroom
- Most Valuable Banking Brand in Nigeria in The Banker Magazine Top 500 Banking Brands 2021
- Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020
- Best Bank in Nigeria in Global Finance World’s Best Banks Awards 2020
- Best Corporate Governance Financial Services Africa 2020 by The Ethical Boardroom
- Number One Bank in Nigeria by Tier-1 Capital in the 2020 Top 1000 World Banks Ranking published by The Banker Magazine.
- Most Valuable Banking Brand in Nigeria in The Banker Magazine Top 500 Banking Brands 2020
- Bank of the Decade (People’s Choice) in ThisDay Awards 2020
- Retail Bank of the year in BusinessDay Banks and Other Financial Institutions (BOFI) Awards 2020
- Best Company in Promotion of Good Health in SERAS Awards 2020
- Best Company in Promotion of Gender Equality and Women Empowerment in SERAS Awards 2020