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TouchGold MFB rewards customers, plans expansion

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Customers of TouchGold Microfinance Bank Limited displaying their prizes during “Odun Ayo” promotion organized by the bank in Lagos.

TouchGold Microfinance Bank (MFB) Limited has awarded 15 customers that excelled in three categories of its “Odun Ayo” product promotion, held recently in Lagos.

The promotion, which commenced towards the end of last year, also saw three staff of the bank going home with different categories of gifts as a result of excellent performance in product promotion.

One of the awardees, Mrs. Nwabueze Onu Rose, who spoke on behalf of other customers, thanked the bank for introducing such a product at a time when the nation’s economy is undergoing serious challenges that has affected many of them negatively.

She added that the product has helped them to be financially disciplined and prudent managers of their businesses.

She said they will continue to patronise the bank as the promo had provided them better opportunity to expand their businesses, meet family needs and stand tall among their peers in the society.

Mr. Ganiyu Yusuf, another awardee, who appreciated the bank for bringing banking closer to their door-steps, called on the management to increase loan approvals to customers, adding that such a move will enable them expand their businesses and move from micro and small to medium scale enterprises.

The Managing Director and Chief Executive Officer of TouchGold MFB, Mrs. Lola Adeniyi-Adeoye, said more product promotion will be carried out this year to bring their services closer to people at the grassroots, promote their business and improve their welfare.

“We have been in the market for about 10 years with good Microfinance banking experience and we are ready to deploy that experience to bring those relevant products to doorsteps of our customers.

“The essence of our programme today is as a result of a study we carried out which shows that a lot of lower income earners that form bulk of our customers usually experience demand pressure on their finances towards the end of the year because their little disposable income cannot satisfy basic needs.

“Therefore, as a bank, TouchGold Microfinance Bank (MFB) developed a product called ‘Odun Ayo’, to enable them save for three months without withdrawal and qualify for award in three categories based on their volume of savings. The result is what some of you are enjoying today.

“The promo will not only enable them meet their needs such as payment of children school fees without putting hands in business purse, it will also provide them opportunity to access more loan from the bank to expend their business.

“We think and plan for our customers so that their businesses could move forward because they are the reason why we are living. Because of our mutual partnership arrangement, Odun Ayo promo is meant to support customers with good funds at the beginning of the years to expand their businesses and meet family needs without affecting their businesses natively”, she said.

TouchGold MFB has developed many value-added products designed appropriately to meet personal and business needs of customers, including ROSCA, which enables customers to grow their businesses on a consistent basis through savings up to 33% and borrow 100% from the bank.


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