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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.

Read also: Auchi Microfinance Bank shops for N200m to leverage information technology

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.

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