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HomeBanking & FinanceBaobab MfB disburses N5b monthly loans to MSMEs 

Baobab MfB disburses N5b monthly loans to MSMEs 

Kazeem, noted that it has taken the visionary leadership of the Board and Management of the bank and the dedication of the exceptional people, working across the organization, to deliver the successes for which Baobab Nigeria is now being rewarded yearly at the BAFI awards.

Baobab Microfinance Bank has said its commitment to funding Micro Small and Medium Enterprises (MSMEs) will be sustained including the disbursement of over N5 billion monthly loans to over 5,000 customers. 

Managing Director and CEO of Baobab Nigeria,  Kazeem Olarenwaju, spoke when the bank was for the second year running emerged as the winner of the MSME Microfinance Bank of the Year at the 2022 Banking and Financial Institutions Awards (BAFI) held  in Lagos. 

He said: “The increasing strong demand for our services by MSME in Nigeria is being rewarded as we have invested heavily in making access to loans easy for the customers. In achieving this, we are expanding our reach both offline and online to enable more businesses to benefit from our services.”

“Already we have the Baobab app which is doing a lot of wonders in the market enabling customers to do transactions seamlessly without actually coming to the bank. We also partner with some agency bank networks to render services to those in remote areas and this is going to continue in the years ahead, we are also opening more branch networks in Port-Harcourt, Aba, and Onitsha,” he said.

Kazeem, noted that it has taken the visionary leadership of the Board and Management of the bank and the dedication of the exceptional people, working across the organization, to deliver the successes for which Baobab Nigeria is now being rewarded yearly at the BAFI awards. We are aware the expectation of the award is for us to do more, we are poised to unleash the potential of all willing entrepreneurs in Nigeria.

Baobab MFB Nigeria also recently emerged as the winner of Leading Microfinance Bank, Nigeria 2022 by Global Brands Magazine, London., West African brands Excellence Awards as Most Outstanding Micro Lending Service Brand of the year, Development Bank of Nigeria  Award as Highest Impact on the North-West Zone 2021, and  Highest MSME  Impact on the Youth MSME 2021.

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