Accion MFB Disburses N79.8bn Loan To SMEs

  • Plans Expansion to North, FCT

By Nse Anthony-Uko
(Sundiata Finance) – Accion Microfinance Bank said it has disbursed a total of N79.8 billion to its customers between 2007 when it commenced business operations in Nigeria up till November 2017 as part of its efforts at promoting and supporting small and medium scale enterprises in the country.
The MFB which says it plans to branch out its operations and present a strong presence in the Northern parts of Nigeria in the years ahead said it will be opening up 80 new branches across the country as part of its expansion plans.
Speaking at the MFB’s annual Customers Forum in Lagos, Managing Director of Accion, Bunmi Lawson whose tenure ends on December 2017, noted that the bank has been able to help the businesses of 53,238 customers having provided them loan facilities to the tune of N17.5 billion between January and November 2017.
She noted that “from inception of the bank to date have disbursed a total of N79.8 billion, as the number of accounts opened grew from 2,531 in 2007 to 294,018 in November 2017. We were also responsive to our customers in insurance claim settlements for outstanding loans from various incidents such as tire during the year as their loans were cleared by our insurance partners while additional benefits are still credited to their accounts to enable them cushion the effect of the unfortunate incidents.”
On his part, incoming Managing Director of the MFB, Taiwo Joda enunciated the plans of the bank in the years ahead stating that “our mandate in 2018 is to surpass your expectations in 2018 and beyond with a lot of packages. These include opening of 80 more outlets (branches) in existing states and new ones, having footprint in the North and FCT and cover the whole federation by 2022. Introduce new products that would address specific needs of our customers, introduce digital Banking.
“We would continue to invest heavily in IT infrastructure to ensure that all our service touch points are reliable, Continue to implement loyalty rewards for our dear long standing customers, show more concern to our customers in taking business decision in line with the smart campaign And launch of new code for Accion MFB.”
On other initiatives the bank would introduce in the coming year, Lawson said “tTo serve you better in 2018 we have embarked on the following initiatives would include, NIBBS instant payment, (NIP)This will solve the problem transfer to and from other banks for you going forward. Digital Banking, We are partnering with other Fintech companies to enable you request and pay for your loans via your phone with the use of social media algorithms.
“Accion MfB Short Code (572), We are in the process of launching Accion MfB Shortcode to replace Brighter 143. This is simply banking on the phone making you able to do banking transactions such as account balances, funds transfers, bills payments etc. right on your hand held phones and Beta Solar, loans to acquire uninterrupted solar power in your homes.”

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