Business
Wema finances Cocoa Mall, restates commitment to businesses
Wema Bank Plc has an
nounced the successful financing of Cocoa Mall, the largest retail mall development project in Oyo State, with a commitment to continue supporting viable indigenous businesses.
A statement by the bank on Monday said the Cocoa Mall was opened in Ibadan alongside its sister mall, Heritage Mall, as part of the new Cocoa House Development project.
The Cocoa Mall complex was developed by Top Services Limited, an indigenous property development company, in partnership with O’dua Investment Company Limited, the statement said.
The bank said the opening of the mall came on the heels of the opening of InterContinental Hotel, a major project financed by the bank in partnership with the IHG Worldwide Hotel chain.
The statement quoted the Chief Executive Officer, Wema Bank, Mr. Segun Oloketuyi, as saying that the financing of the mall was a reaffirmation of its continued commitment to ‘supporting businesses, individuals and initiatives.
He said the development was also an indication of the bank’s in-depth knowledge and experience in property and infrastructure finance.
According to Oloketuyi, the bank will not relent in its effort to create and nurture value-adding and enduring business relationships with all stakeholders as it had consistently done over the past six decades.
It further quoted the Managing Director, Top Services Limited, Mr. Tokunbo Omisore, as saying that seeking a financial partner with proper knowledge of property finance was critical to the success of the project.
He noted that the bank created an enabling environment for financing the project, making it beneficial to all parties as it provided expert advice and opinion along the way.
Wema said it offered a range of retail services and SME banking, corporate banking, treasury, trade services and financial advisory to its numerous customers.
According to the statement, the bank has been involved in key property and infrastructure finance projects in recent times.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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