Microfinance Banks (MfBs) have been urged to consider issuing bonds as an alternative source of raising capital needed to meet their customers’ credit needs. The International Finance Corporation (IFC) Vice President and Treasurer, Jingdong Hua, said MfBs have capacity to issue bonds, raise fresh capital and deepen capital market liquidity. He said Nigeria’s capital market […]
Read More Citibank Nigeria has extended a loan of ₦500m to Accion Microfinance Bank to promote the development of the microfinance sector in Nigeria. The loan will fund Accion’s loan portfolio and support the development of approximately 5,000 Micro, Small and Medium-scale Enterprises in the country, according to a statement by the lender. It said the agreement […]
Read More ACCION Microfinance Bank (AMfB), weekend, revealed a disbursement of ₦62 billion since inception in 2007 and ₦15 billion in its financial year ended, December 2016. Also, the bank’s loan portfolio grew from ₦5.45 billion in 2015 to ₦6.12 billion 2016 representing a 12 percent growth with a corresponding growth of 20 percent in the number […]
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