• Tuesday, March 05, 2024
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How Accion MfB is empowering SMEs in Nigeria

How Accion MfB is empowering SMEs in Nigeria

Accion Microfinance Bank (MfB) Limited, a microfinance institution in Nigeria has been empowering Small and Medium Scale Enterprises through various initiatives and programs.

In the past 16 years of operation, the bank has steadfastly upheld its unwavering commitment to its core vision and mission of empowering and transforming lives and businesses, according to a statement.

“Through various progressive and impactful initiatives, partnerships with staunch commitment to responsible banking practices driven by a profound sense of purpose alongside a relentless pursuit of financial inclusion; we have reached and impacted countless lives and businesses across Nigeria,” it said.

One of the many businesses empowered by the bank is Kodo Ekeson Nigeria Enterprise.

Read also: Accion MfB empowers entrepreneurs with leadership skills

It said over the course of eight years, with steady financial empowerment and support from the bank, the enterprise which operated only two shop outlets and held ambitious aspirations for nationwide expansion has experienced phenomenal growth.

“Today, it proudly boasts over 16 outlets across the country, with the most recent addition being a newly commissioned store in Lagos.”

Commissioning a new outlet recently in Lagos, Ekene Udeh, chief executive office at Kodo Ekeson Nigeria Enterprise, recalled how he started banking with Accion MfB in 2015 with a loan of N390,000 and today his business accesses up to N30 million.

Read also: Accion Microfinance Bank gets awards, pledges to empower more businesses

“I appreciate the bank’s strategic partnership that has boosted my business growth. Not only has my business expanded and increased in revenue, it has equally created numerous job opportunities in communities located around my business,” he said.

According to Taiwo Joda, managing director/chief executive officer at Accion MfB, Udeh’s success story underscores the bank’s unwavering commitment to nurturing entrepreneurial dreams and promoting economic development.

“The bank remains steadfast in its dedication to supporting entrepreneurs and businesses.”

Read also: Accion MfB disbursed N17bn to customers in five months – MD

It offers a comprehensive range of innovative and digitalized financial products and services tailored to facilitate the growth and prosperity of businesses,” he said.

Established in 2006, the company began operations in May 2007 upon obtaining the Central Bank of Nigeria license and has continuously empowered and supported business owners in Nigeria over the years.