LAPO Microfinance Bank Limited (LAPO MfB), a prominent microfinance institution based in Nigeria, has reported that it disbursed over N74 billion in the first half of 2023.
According to a statement released by the bank’s Head of Marketing and Communications, Oluremi Akande, LAPO MFB remains dedicated to its primary goal of providing easy access to credit for micro, small, and medium enterprises (MSMEs), as well as individuals from low-income households who face financial exclusion from the formal financial sector.
Akande emphasized the bank’s strong commitment to promoting economic activities and making significant contributions to economic growth, stating, “This underscores our firm resolve to continue to promote economic activities and contribute meaningfully to economic growth.”
Furthermore, Akande highlighted LAPO MfB’s track record, stating, “In the last decade, LAPO MfB has disbursed over N1 trillion to MSME owners in Nigeria. Our strategic objective for 2023 is to disburse over N200 billion by the end of the financial year.”
LAPO Microfinance Bank has maintained a steadfast commitment to empowering individuals from low-income households and MSME owners for over 30 years, aiming to achieve social and economic empowerment sustainably.
In response to the current economic realities, which have seen recent increases in fuel, electricity, and other prices, LAPO Microfinance Bank Limited a few weeks ago announced a 25% salary raise for its junior workers and a 12.5% salary raise for its senior workers nationwide.
With a workforce of 7,000 employees, the bank seeks to support its staff amidst these challenging circumstances
Author
