Baobab Microfinance Bank has announced the disbursement of over N323 billion in loans to more than 407,000 customers, reinforcing its commitment to empowering small and medium-sized enterprises (SMEs) and micro-entrepreneurs across Nigeria. In a statement, the bank highlighted its role in fostering economic growth, job creation, and innovation through its financial inclusion strategy. Acting Chief Executive Officer, Eric Ntumba, emphasized the bank’s dedication to supporting small businesses and driving societal development.
“At Baobab, our customers are at the center of our strategy as we work toward building a sustainable, financially inclusive society,” Ntumba said. “Each loan represents opportunities for growth, innovation, and resilience, benefiting not only our customers but society as a whole.”
Ntumba further underscored the bank’s mission to transform business ideas into realities, adding that providing credit facilities to small businesses plays a critical role in advancing Nigeria’s economic development.
The bank’s impact spans sectors such as agriculture, commerce, trading, and transportation, enabling individuals to achieve their goals and driving economic progress.
Chief Business Officer Dapo Ikupolati also commended the bank’s efforts, noting that it disbursed over N92 billion in loans in 2024 alone. “We are committed to building a financially inclusive Nigeria, one loan at a time, and expanding our reach to support thousands of Nigerians striving for a better future,” Ikupolati stated.
