Fidelity Bank Plc, a leading financial institution in Nigeria, kicked off the eagerly awaited second edition of the Fidelity International Trade and Creative Connect (FITCC) in Houston, Texas, on October 24, 2023. The two-day event attracted a diverse audience, including businesses, regulators, members of the diplomatic corps, and other guests, to achieve several key objectives.
Tagged FITCC Houston, this event focuses on increasing the number of Nigerian businesses exporting to the US market, offering the diaspora market more ethnic product choices, and helping exporters enhance their capacity to meet international standards and improve product quality.
Welcoming participants to the event, Mrs. Nneka Onyeali-Ikpe, the MD/CEO of Fidelity Bank Plc, emphasized the need for businesses to adapt to a rapidly evolving macro-economic environment and cater to an international customer base. She highlighted the imperative of globalization, which underlines the importance of cross-border offerings and collaborations.
The inaugural edition of FITCC took place in London in November 2022, where over 100 Nigerian businesses connected with UK counterparts, resulting in deals worth approximately $200 million. This year, the event aims to close deals worth around $250 million. To facilitate these objectives, an extensive experience has been put in place for stakeholders at this expo.
The event featured keynote addresses from prominent figures, including Professor Benedict Oramah, the President & Chairman of the Board of Directors of the African Export–Import Bank (Afreximbank), and Dr. Uzoma Emenike, Nigeria’s Ambassador to the United States of America.
A significant aspect of the event was the exhibition, which showcased more than 160 Nigerian and US-based businesses in various sectors, including fintech, commodities, fashion, cosmetics, services, creative, agriculture, and extractive industries in the non-oil sector. Exhibitors expressed enthusiasm about presenting their products and engaging with customers.
A noteworthy milestone at the event was the signing of a $40 million pre-export finance facility in favour of JohnVents Industries, one of the exhibitors. AFREXIM Bank will provide this loan, with Fidelity Bank as the local administrative agent. The agreement is considered a landmark development in the exports space and highlights the potential of the Nigerian cocoa market to meet the demand of off-takers in the US.
Day 1 of FITCC Houston featured a fashion show dedicated to unique Nigerian pieces, titled “The Connect Plus Fashion Show.” The event showcased models wearing culturally inspired designs from several Nigerian labels and provided networking opportunities for guests and participants.
Fidelity Bank, recognized as one of the best banks in Nigeria, serves over 8 million customers through its 251 business offices in Nigeria and the United Kingdom, as well as digital banking channels. The bank has received multiple awards, including Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022. It has been lauded for its growth and support for MSMEs and entrepreneurship financing.
This event demonstrates Fidelity Bank’s commitment to boosting Nigeria’s non-oil exports and fostering collaborations to support economic growth and international trade.
