The African Development Bank Group, AfDB, has granted a N2.364 billion ($12 million) credit facility to Nigeria’s LAPO Microfinance Bank Ltd. The bank, in a statement,on Wednesday, November 25, said the loan agreement was to support inclusive growth in the country.
LAPO Microfinance Bank said that it entered into a partnership with MTN Nigeria with a view to meeting its commitment to the Central Bank of Nigeria Micro Small and Medium Enterprise Fund (MSMEDF).
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AfDB’s line of credit will finance SMEs in various sectors in Benin. Through the credit, Finadev SA Benin will scale up its services and finance SMEs ...