Sigma Pension CEO calls for increased ethical investments
The Managing Director, Sigma Pensions, Dave Uduanu has called for an increased ethical investment as a means to aide financial inclusion nationwide.
FG uses technology to scale the largest government-led microcredit scheme in the world
The Government Enterprise and Empowerment Program (GEEP) is a micro-credit scheme of the Federal Government of Nigeria executed by the Bank of Industry. GEEP started in 2016 and has empowered 1.8 million micro-enterprises with collateral-free, interest-free loans to grow their businesses; making it the largest government-led microcredit program globally. GEEP beneficiaries are petty traders, merchants, enterprising youth, and agricultural workers in over 1600 clusters and markets across Nigeria.
UN Commends TraderMoni as program scales with technology, reaches 30,000 new beneficiaries
The goal to provide financial inclusion for all Nigerians regardless of social class and economic status has made giant strides across the country as countless traders, artisans and farmers continue to laud the Federal Government for giving them a way to access credit for their businesses through the Government Enterprise and Empowerment Program (GEEP).
Xolane Ndhlovu: Winning with blockchain and cryptocurrency
A lot of people have been hearing a lot about the blockchain technology but don’t know what it’s all about. Doing away with the complex definition given by Wikipedia...
Building a long lasting business
Building a business that lasts beyond a business owner is the dream of most entrepreneurs, with the exception of those that have an exit plan.
Disrupting credit: how GEEP is enabling access to affordable credit, solving the collateral problem
With a population of over 190m, Nigeria has over 30 million MSMEs employing over 60 million of the population and contributing about 85% of our total labor force in the country. Micro, Small and Medium businesses have been the bedrock of the Nigerian economy. But a lot of them continue to remain at the same level because they lack access to funding from commercial banks; the average Nigerian MSME owner does not have a collateral, and cannot afford the interest rate charged by banks. Consequently, these businesses have remained at subsistence level; unable to utilize the opportunities in the Nigerian economy to grow.
With TraderMoni, FG is Spurring Productivity at the Grassroots
In line with the Federal Government’s plan to diversify the Nigerian economy beyond crude oil, attention has been turned to micro-businesses in the informal sector. Rather than focus solely on the formal sector, the Muhammadu Buhari administration is working with an overlooked, yet critical, contributor to the Nigerian economy. The informal sector remains vital to reducing unemployment; it also bridges several gaps between the formal sector and the masses.
Baobab Microfinance loans hit N4.7billion
A micro lender, Baobab Microfinance Bank Nigeria, formerly Microcred Nigeria, has grown its loan book from a moderate value N257 million as at 2010, to N4.7 billion in 2018...