FINCA officially launched the first branch of FINCA Microfinance Bank Limited in Owerri,Imo State, Nigeria. This follows the final approval by the Central Bank of Nigeria,which was granted on the 30th of October 2014.

As a pioneer of the Microfinance industry for 30 years,FINCA has created opportunities for millions of low-income entrepreneurs through innovative leading practices and client support. Nigeria is the sixth African country in FINCA’s network, in addition to Uganda (since 1992), Malawi (since 1994), Tanzania (since 1998), Zambia (since 2001) and Democratic Republic of Congo (since 2003) and the first in West Africa and the 23rd country in the world in FINCA’s network. In total,FINCA reliably serves nearly 700,000 low-income clients across Africa and over 1.7 million clients globally.

“Nigeria is an economic leader with the largest continental GDP and a large population of hardworking , entrepreneurial people. Yet, seven out of ten adult Nigerians remain unbanked”, stated FINCA Africa regional Director, Mike Gama-Lobo, represented by Esther Akaifa, Regional Human Resources Director,FINCA Africa at the launch ceremony. He went further to say that, “FINCA enters this market with an unconventional approach to banking,client centric and mission based.Our Nigerian clients can expect a difference from our team of professionals who have deep local expertise blended with FINCA’s global best practices, delivered on the tenets of warmth, trust and responsible banking”.

FINCA Microfinance Bank will begin its operations simple but innovative financial solutions-savings, term deposits, and loan products-to help clients effectively manage their money, save for the future or grow their micro-business. Services will be accessed through an efficient branch and non-branch network, starting in Owerri, Imo state, with expansion to other states in the near future.

Mr James Semakkadde, FINCA Board Member, who also spoke at the launch event, encouraged the Nigerians to cultivate the habit of savings.HE assured the people that any investment in FINCA is secured. He advised Nigerians to increase their income and reduce expense in other to avoid poverty.

Central Bank of Nigeria was represented by Mrs Nkechi Osuji (Head, Development Finance, Owerri Branch) who encouraged Nigerians to embrace FINCA Microfinance Bank Limited,saying that it held a brighter future for millions of rural and community entrepreneurs. She asked that FINCA Management should operate in Nigeria similar services they had done in 22 other subsidiaries across the world.She went further to advise potential clients to trust FINCA Microfinance Bank Limited and be sincere with their transactions with FINCA.