Sterling Bank Plc and Opportunity Network, a digital deal match-making platform for vetted businesses and investors, has entered into a partnership to connect to reliable trade partners globally.
The partnership was to enhance international trade between Nigeria and the rest of the world.
Opportunity Network is where owners of businesses, CEOs and high network individuals are carefully selected and vetted by a financial institution. It is a private, invitation-only, network and business match-making platform.
The organisation gives businesses, opportunities in sales, mergers, and acquisition, capital raising, company sales, all in a trusted environment.
The Managing Director, Sterling Bank Plc, Mr. Abubakar Suleiman, while speaking during the unveiling of the partnership in Lagos said that the collaboration would enhance international trade and allow for trusted partners to work together.
Sulaiman said that, as we think of the world becoming flat and trade becoming globalised, the one question Nigeria faces is whom to establish the trust for especially outside the country.”
“While presenting myself as a Nigerian business, how does a counterpart from America, Asia or Europe determines if I can be trusted or not. Because where there is no trust, the cost of doing business for the country becomes limited.”
“Opportunities Network has therefore developed a platform that makes it possible for us to establish trust despite the physical distance that exits.”
He further stated that Sterling Bank was committed to making sure that businesses grow and connect with the necessary local and international partners.
“Opportunity Network is unique that trusted place where trusted partners can interact. With the partnership, customers will benefit because through the network; more cross border transactions will take place.”
Adriana de la Cruz Duffo, the Opportunity Network Managing Director Nigeria also said the platform aggregates high-quality commercial, mergers and acquisitions, and capital-related chances from around the world into one single, online location.
The MD Nigeria further said that the business deals are actionable and proprietary and once posted and can be searched openly by deal type, industry, geography, and deal size.
She said 75 percent of the prospects posted are either on a negotiating stage or deal already closed while on average, members receive 11 connections per opening.
“It is a new break for agricultural companies to export their produce, and for real estate companies to attract investments. It is also for companies in oil and gas, transport, renewable energy and so on.
“Many of the opportunities listed on the platform are European investors looking to invest in healthcare in Africa, education, technology and all of them come from a swiftness and measured trust because a bank in their country has vetted every investor.
“Mostly, we have discovered that each time that Nigerian companies post deals on the platform, they get connected within the first 24 hours, evidence that the world is looking to do business in Nigeria.
Also, the Sterling Bank General Manager, Corporate Banking, Mrs. Mojisola Bakare said: “This network is primarily a business tool to use to enhance businesses. It is a functional tool that gives the opportunity for foreign investors to see those who have things to sell. Having the platform is being able to have a link that leads the buyers to the seller.
“It positions Nigerian businesses in a good manner and gives us more opportunities for us to have buyers for our products.”