Baobab Microfinance, a provider of financial services to small and medium enterprises (SMEs) and micro-entrepreneurs has reiterated its commitment to empowering businesses across Nigeria reaching over 407,000 customers with a total loan volume exceeding N323 billion.
Eric Ntumba, Ag CEO, Baobab Nigeria said that Baobab has played a pivotal role in supporting the growth and development of countless businesses, contributing significantly to economic development and job creation in Nigeria.
He said this gesture is a statement of the company’s mission to empower small businesses in Nigeria.
“At Baobab, we place our customers at the heart of our strategy and enhance more ways to build a sustainable financially inclusive society. These numbers reflect not just loans but opportunities for growth, innovation, and resilience for not only our customers but the society at large.
He said every loan disbursed shows the financial institution’s dedication to empowering individuals and businesses.
“In a time like this, seeing business ideas come alive is what we look forward to achieving at Baobab. Granting credit facilities to small businesses across Nigeria sets the country on a path for advancement and development and this is one key role we desire to fill in the financial services sector.”
Ntumba said that the impact of the loans has been felt across diverse sectors, from agriculture to commerce, trading, and transportation, helping individuals in the various sectors advance in their endeavors as well as impacting the Nigerian economy.
Dapo Ikupolati, Chief Business Officer, Baobab Nigeria, while speaking on the impact, said that the financial institution remain committed to building a financially inclusive Nigeria. “It is one of our goals to continue to expand our offerings to reach thousands of Nigerians seeking a better tomorrow. Last year 2024, we had a volume of over N92 billion loans disbursed and this shows how far we are willing to go to impact small businesses across Nigeria.”
He further noted that Baobab Nigeria has consistently demonstrated its dedication to financial inclusion by providing tailored financial products and services that cater to the unique needs of MSMEs.
“The bank’s focus on customer satisfaction, combined with its innovative approach to lending, has enabled it to build strong relationships with its clients and establish itself as a trusted partner in their growth journeys.”
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