Baobab Nigeria, a leading microfinance bank, has disbursed close to N500bn in loans to micro, small, and medium-sized enterprises (MSMEs), reinforcing its significant role in promoting financial inclusion and business expansion across Nigeria.
In a statement released on Friday, the financial institution reiterated its unwavering commitment to empowering small businesses by providing accessible and flexible financial services. Since its establishment, Baobab Nigeria has supported nearly 300,000 clients, enabling numerous entrepreneurs to scale their businesses successfully.
Speaking at an event in Lagos, the Chief Executive Officer of Baobab Group, Philip Sigwart, emphasized the company’s dedication to fostering business growth, recognizing MSMEs as the cornerstone of Nigeria’s economy. He highlighted the organization’s commitment to innovation and service expansion, aimed at driving economic development and long-term sustainability.
With a strong financial standing, Baobab Nigeria is well-positioned for sustained growth. By December 2024, the bank had grown its gross loan portfolio to N60bn, while its total balance sheet size reached N80bn. Baobab Nigeria’s Chief Executive Officer, Eric Ntumba, pointed out that the institution has maintained a low portfolio-at-risk ratio while nearly doubling its loan portfolio within a year. He further emphasized the bank’s dedication to sustainability through its “Three Ps” approach—Planet, People, and Profit—ensuring long-term impact beyond financial gains.
Baobab Nigeria remains focused on expanding financial inclusion, particularly in underserved and unbanked communities. The institution’s Board Chairman, Rotimi Oyekanmi, reiterated its mission to bridge financial gaps nationwide. He disclosed that Baobab Nigeria intends to extend its reach across all 36 states, prioritizing regions with limited access to essential financial services.
Arabic
Dutch
English
French
German
Italian
Portuguese
Spanish
