Cocoa Mall,Oyo state’s largest retail mall development, financed by Wema Bank was commissioned at an event in the state capital, Ibadan alongside its sister mall, the Heritage Mall as part of the new Cocoa House Development. The Cocoa Mall complex was developed by Top Services ltd., an indigenous property development company in partnership with O’dua investment Company ltd. This commissioning comes barely a month after the opening of another major Wema Bank financed project, The InterContinental Hotel, Lagos in partnership with the IHG worldwide hotel chain.
Speaking to the press at the event, SegunOloketuyi, MD/CEO ofWema Bank said that the Bank’s financing of the Cocoa Mall development is a re-affirmation of WemaBank’s continued commitment to `supporting businesses, individuals and initiatives across Nigeria and also a key pointer to the Bank’s in-depth knowledge, experience and expertise in Property and Infrastructure finance. He further added that Wema Bank will not relent in its effort to create and nurture value-adding and enduring business relationshipswith all stakeholders as it has consistently done over the past six decades
Managing Director of Top Services ltd., developers of Cocoa Mall, Chief TokunboOmisore, commended Wema Bank for believing in the vision and supporting the project despite being turned down by other banks initially. In his comments, he said seeking a financial partner with proper knowledge of property finance that could also add value without running down the business was critical to the success of the project and Wema Bank came through in this regard, creating an enabling environment for financing the project which was structured in a way that was beneficial to all parties whilst providing expert advice and opinion along the way.
Reputably Nigeria’s most resilient Bank, Wema Bank offers a range of retail and SME banking, corporate banking, treasury, trade services and financial advisory to its numerous customers. The Bank has been involved in key property and infrastructure finance projects in recent times.