Financial inclusion: Private sector activates initiative to promote saving culture among MSMEs

Determined to promote saving culture among operators of Micro, Small and Medium Enterprises in Nigeria, CAPITIS limited has activated a reward initiative to recognised customers who participated in its activation.

Peter Adejoh, chief executive, CAPITIS says the organisation was concerned with promoting saving culture amongst petty traders.

Adejoh while speaking during a lottery draw for customers who participated in a savings promo of the organisation said it was very easy to spend monies that are not invested hence the need for the savings programme.

He said the lottery draw was part of the company ways of reward customers who during the savings promo product meet a specific target to save towards.

According to Adejoh, “The lottery draw was to reward members that have saved from January till July. Usually, we have two promos, this is one and the grand finale will be in December. The ones selected today are the customers who fell under the category of constant savers within this period. It’s typically for our promo savers.”

He further opines that being able to reach out to the target customers was a challenge because they were the masses at the bottom of the pyramid hence most of them were not educated and do not have even the basic requirements to access the conventional financial platform.

He noted that the organisation had to groom them first of all and make sure they reach the minimum requirement, adding that they had to simplify the process for them and “that is what sells for us. We are all about financial inclusion.”

Adejoh said CAPITIS was born out of the need to create a company that can handle the finance of people at the bottom of the pyramid.

He said the organisation was expanding therefore, next year they are hopeful to expand the saving programme and make it more accessible to the customers.

Husseini Isah Soja, a petty trader and one the winners of the lottery at Kado Fish market, Abuja on his part lauded organisers for creating the platform saying it has helped him a lot in saving monies that he can use to boost his business.

Soja said he will further spread the positive message to other petty traders around him as the investment was in order.