If yes, see the requirements and paper work needed to achieve it. Some of these services includes loans,deposits,domestic money transfer among a wide range of services offered. Some of the beneficiaries targeted in mind for this service includes artisans, fishermen, youths, farmers, citizens, non salaried workers in the formal and informal sectors of the economy respectively. The loans are usually of unsecured nature relying mostly on the cash-flow of the business,as well as the applicants character.
Friday, 23rd November 8.
You can register online at www. Specifically, existing Unit MFBs with N20m capital base are now required to increase their capital to Nm within the next 18 months while State and National MFBs with m and N2bn minimum capital requirements are also expected to increase their capital to N1bn and N5bn respectively within the same time frame.
Essentially, this is a strategic move by the Central Bank of Nigeria that would signal the expected dramatic changes in the microfinance landscape in Nigeria. It therefore becomes imperative for existing Operators to go back to the drawing board to review their business models and strategic objectives viz-a-viz the new capital requirements.
Existing Unit microfinance banks in particular need to consider whether they want to raise additional equity or if they will like to transform to a microfinance Institution whilst still continuing with their micro financing business.
On the other hand, existing Microfinance Banks that have the financial muscles to raise the new required equity may also want to consider registering a Microfinance Institution as an innovative means of increasing outreach beyond their current locations instead of sourcing for additional equity immediately.
In the same vein, well capitalized Microfinance Banks and those ones that will transform to Microfinance Institutions can consider sign up on agency banking networks to achieve outreach and sustainability without necessarily tying down capital.
Please join us as we discuss this topical issue with a view to open up viable options to existing operators to avoid unnecessary panic that may arise in the event of mass closure of MFBs simply as a result of its inability to raise required additional capital within the stipulated time frame.
New investors with the vision of empowering the active poor will also be guided on the best route into the microfinance space towards the provision of financial services to the unbanked.ROODMAN & QURESHI: MICROFINANCE AS BUSINESS i Executive Summary IN THIS PAPER, we analyze microfinance institutions (MFIs) as businesses, asking how some MFIs succeed in reducing and covering costs, earning returns, attracting capital, and .
In the early 80s and 90s, Old national banks such as First Bank, Union Bank, Afribank and UBA held sway in Nigeria. Back then, doing business with the banks was slow and cumbersome; plus the banks lacked innovative drive. The “Business Planning for Microfinance Institutions” course was originally entitled “Business Planning with Microfin” and is one of the four courses in the Operational Management Curriculum.
MicroFinance Network to undertake this project because of the two organizations’ shared interest in the research. Both institutions identified the need for a risk man-.
Specific Action Plan & Road map towards seamless and timely transformation from Unit Microfinance Bank (MFB) to a Microfinance Institution (MFI) Review of the guidelines for the regulation of agent banking and agent banking relationships viz-a-viz emerging opportunities for operators.
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