Baobab Microfinance Bank has reaffirmed its commitment to empowering small and medium-sized enterprises (SMEs) and micro-entrepreneurs across Nigeria by disbursing loans worth over N323bn to more than 407,000 customers.
This substantial financial support underscores Baobab’s dedication to fostering economic growth and development within the country. By providing accessible financing options, the bank aims to bolster the operations of MSMEs, which are pivotal to Nigeria’s economic landscape.
The Chief Executive Officer of Baobab Nigeria, Dr. Olanrewaju Kazeem, emphasized the institution’s role in supporting its customers’ growth, noting that the bank had disbursed about N40bn in loans over a 12-month period.
Baobab’s continuous efforts to provide financial assistance to MSMEs highlight the critical role of microfinance institutions in driving economic inclusivity and sustainability.
