Greenwich Merchant Bank, PSRG-Richardson Partner On Inclusive Growth

Greenwich Merchant Bank Ltd and PSRG-Richardson have partnered on the key strata of sustainability – health, safety, security and the environment to drive the nation’s economy towards robust and inclusive growth.

This was disclosed in a statement signed by the head, Corporate Communications of the institution, Ozena Utulu and made available to LEADERSHIP Sunday yesterday.

Speaking on the sidelines of the 2024 PSRG-Richardson HSSE Forum 16th Edition, in Lagos, the chairman of Greenwich, Mr. Kayode Falomo explained that, with the complex challenges in the nation, partnerships are important for the growth and development of the economy.

According to him, at Greenwich Merchant Bank, “we value the collaboration and the benefits that our strategic partnerships bring to the Nigerian economy whilst we are conscious of the importance of health, safety, security and the environment to the overall socio-economic well-being and wealth of nations.

“At GMB, we understand that our business activities and operations impact on the environment and the society in which we operate. Hence, our sustainability approach has been tailored to proactively incorporate sustainability principles into our business dealings with our clients as well as our internal practices and operations.

This approach has enabled us to effectively manage the environmental and social risks associated with our business interactions and internal operations.”

Disclosing that Healthcare is a central part of its CSR focus, he added that, through its Foundation, the Greenwich Foundation, the bank will continue to make critical investments in healthcare infrastructures, institutions, delivery systems, among others, towards ensuring a healthy population and society.

He disclosed that the pre-eminent merchant institution collaborates with clients, alliance partners, NGOs, industry groups, suppliers, and others on sustainability initiatives.

To further explain this, the chairman said, “to achieve this goal, the Board has approved a plan to ensure collaboration with clients, alliance partners, NGOs, industry groups, suppliers, and others to: increase demand for responsible products and services, remove roadblocks that get in the way of enacting change and support efforts geared at creating innovative climate solutions at a systems and operations level.”

Addressing the theme for this year’s forum, titled, ‘Unlocking Economic Prosperity in Nigeria: Bridging the Gaps,’ the CEO of Richardson Oil and Gas Ltd, Akin Osuntoki said, Nigeria’s path to prosperity was hindered by several key challenges like inadequate infrastructure which limits economic efficiency; security issues that disrupt business and deter investments; over dependence on oil, which makes the economy vulnerable to global market fluctuations; and the dysfunctional Educational system that has resulted to skills gap affecting workforce productivity.

Osuntoki stressed that, to unlock prosperity, Nigeria must undertake a multifaceted approach to address the challenges.

He advocated the need to prioritise investment in infrastructure, economic diversification, reformation of the educational system, strengthening governance, concretise security issues and leveraging Nigeria’s strategic location to enhance regional trade and economic cooperation to further boost growth and development.