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By Chinwendu Obienyi
The Acting Chief Executive Officer, Baobab Microfinance, Eric Ntumba has revealed that the financial services provider disbursed over N323 billion in loans to small and Medium Enterprises and Micro-entrepreneurs in Nigeria in over three years.
Ntumba noted that this was borne out of efforts to support the economy, drive entrepreneurship, and create opportunities for businesses in Nigeria, adding that the company now has 407,000 customers.
In a statement sent to Daily Sun, Ntumba said, “At Baobab, our customers are central to our strategy, and we strive to create a more financially inclusive society.
These figures represent not just loans, but opportunities for growth, innovation, and resilience for our customers and the broader community. Each loan reflects our dedication to empowering individuals and businesses”.
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Ntumba further emphasized that the company’s primary goal centers around providing credit facilities to small businesses across Nigeria, and added that its key role is to fulfill Nigeria’s advancement and development within the financial services sector.
The positive impact of these loans is evident across various sectors, including agriculture, commerce, trading, and transportation, empowering individuals and driving economic progress in Nigeria.
Highlighting the company’s commitment towards financial inclusion, the company’s Chief Business Officer, Dapo Ikupolati, reaffirmed that “the company is dedicated to building a financially inclusive Nigeria, one loan at a time”.
Ikupolati revealed that the company wants to expand our offerings to reach thousands of Nigerians seeking a better future.
He said, “In 2024, we disbursed over N92 billion in loans, demonstrating our commitment to impacting small businesses across Nigeria.”
Baobab Nigeria has consistently prioritized financial inclusion by offering tailored financial products and services that address the specific needs of MSMEs.
