Over the years, the RBI has repeatedly urged our banks to step up credit flow to the Micro, Small & Medium Enterprise (MSME) sector. Time and again, the central government has launched several schemes to address this concern. But the result has turned out to be hardly satisfactory. According to latest figures available, the rate of growth of outstanding credit to MSMEs expanded by all scheduled commercial banks declined from 28.51 percent in 2012-13 to 19.66 percent in 2013-14, then to 12.62 percent in 2014-15 and further to 3.83 per cent in 2015-16.
The Abuja Municipal Area Council (AMAC) has inaugurated a committee to carry out feasibility study for the establishment of AMAC Microfinance Bank.
Inaugurating the committee, AMAC chairman, Hon Abdullahi Adamu Candido said that the council is on a mission of reviving an almost crippled government by putting in place measures and means to ensure that it stands on its own without relying on government subvention to operate.
You’re looking at them all wrong. Five years ago, when web pioneer Marc Andreessen wrote in the Wall Street Journal that “software is eating the world,” it was a highly provocative idea. Today it’s a given. Digitization, or digital transformation, is sweeping through all kinds of businesses, changing how they operate internally and, more importantly, how they interact with customers.
On Wednesday 19th October, from 11.15 a.m. to 2.30 p.m., the "Microfinance for the Development of Peoples" Conference will be held at the Ministry of Foreign Affairs. Organised by Banca Popolare Etica in partnership with the Directorate General for International Cooperation of the Ministry of Foreign Affairs and International Cooperation, the event will be split into two themed sessions dedicated respectively to the role of microfinance and access to credit in development cooperation programmes and to microfinance experiences and best practices in the southern hemisphere.
In continuation of its human capital development, the management of Lift Above Poverty Organization (LAPO) Microfinance Bank Limited said it had empowered up to 7,233 Nigerian school children with over N83,545 million from 2007 to 2016. The managing director of the financial institution, Godwin Ehigiamusoe made the disclosure at the occasion of the Scholarship and Skills Award ceremony in Benin-City, Edo State; noting that the scholarships were geared towards helping the beneficiaries pursue their academic aspirations.