LAPO Microfinance signs agreement with SAKL for tricycles financing -

LAPO Microfinance Bank Limited and Stallion Auto Keke Limited (SAKL) have signed a Memorandum of Understanding (MoU) that will enable the introduction, distribution and funding of the purchase of the SAKL Bajaj RE250 tricycle product by Nigerians.

The development will enhance poverty alleviation and promote financial inclusion in the Micro, Small and Medium Enterprise (MSME) sub-sector.

The intending beneficiaries would leverage LAPO’s over 500 branch network, across 34 states including the Federal Capital Territory (FCT) Abuja and most importantly the bank’s micro-credit loan disbursement intervention.

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Speaking to Journalist during the official signing ceremony recently, Faith Osazuwa-Ojo, executive director, operations division, says “As a leading Microfinance bank in Nigeria, we remain committed to our over 30 years mandate of social and economic empowerment of members of low-income households. Our partnership with SAKL underscores an alignment of a common vision of social and economic empowerment through the provision of easy and reliable platforms to actualize the dreams of economic-dependency of an average Nigerian in a sustainable manner”

Representing the managing director, SAKL, Mandar Ghadje, bussiness head, reiterates” Stallion Auto Keke Limited is a leading global player in the tricycle business, the Bajaj RE 250 is super durable with best carriage capacity with aftersales support. Our partnership with LAPO Microfinance Bank Limited will enable for easy access through loans and distribution across the bank’s branch network across the country.

LAPO Microfinance Bank will continue to seek worthy partnerships in furtherance of the realization of its vision of empowerment of members of low-income households, a statement from the bank says.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.