Accion MfB partners with DBN to empower SMEs with funding

Accion Microfinance Bank has collaborated with the Development Bank of Nigeria (DBN) in a key move to provide opportunities and access to funding for small and medium enterprises that are the core catalyst of economic growth.

This partnership was forged at the recently held first Customer Forum event of 2025 organised by the microfinance bank with the theme “Unlocking Opportunities for Growth” where discussions around opportunities for business growth, financial sustainability were explained.

“DBN is collaborating with Accion Microfinance Bank to develop a gender-focused loan exclusively for women, marking a significant enhancement in our loan features. This initiative aims to equip women with the necessary financial resources to thrive and expand,” said Taiwo Joda MD/CEO of Accion MfB.

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Bonaventure Okhaimo, chief operating officer of DBN led an engaging discussion focused on SME development, access to finance, and maximising financial technology to drive business scalability.

He emphasised the need to navigate challenges posed by escalating commodity prices and interest rates: “We need to find a way to continue to use these platforms to develop MSMEs and enable them to grow themselves up and, at the same time, grow the economy.”

In his remarks, Paul Ehiagbonare, chief digital officer of Accion MfB unveiled the upgraded features of the AccionMonie app, stating, “this is a completely re-engineered and redesigned app with enhanced functionality and features that were not possible before, making onboarding seamless and secure.

“We have introduced the NIN and facial verification features to provide customers with added security. Based on feedback received from our previous Customer Forum event, customers can now conveniently transfer up to N10 million in a single transaction, streamlining their banking experience.”

He further elaborated on the app’s new capabilities, “The app now offers quick loans within 10 minutes, a refer and earn option, as well as target and locked savings features, catering to the diverse financial needs of our customers. With these enhancements, we aim to provide a more streamlined and efficient digital banking experience that empowers our customers to manage their finances with ease and convenience.”

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Anita Oguni, Ag. head of marketing communications underscored Accion MfB’s commitment to empower businesses, entrepreneurs, and individuals with the necessary financial solutions for sustainable growth.

The event served as a valuable platform for customers to voice their issues and concerns, facilitating constructive dialogue and collaboration. Attendees were also encouraged to share their innovative ideas.