Alert Group Microfinance Financial institution will get Lagos commissioner’s help for initiatives

Alert Group Microfinance Financial institution will get Lagos commissioner’s help for initiatives

Abayomi Oluyomi, the Lagos State commissioner for finance, has expressed help for some initiatives by Alert Group Microfinance Financial institution.

Talking on the tenth anniversary of the Alert Group MFB and the opening of their new head workplace in Lagos, he described Alert Group as a companion for development as a result of their function in enabling Small and Medium Enterprises (SMEs).

“Up to now ten years, Alert Group has been on the forefront of empowering SMEs in Lagos State, disbursing over N30 billion in loans to over 30,000 folks, and small to medium companies over that interval, which is kind of exceptional.”

“To this finish, Alert MFB is a companion for development. As we collect right here, it’s crucial to recognise the pivotal function that ALERT MFB as an SME enabler is taking part in in driving financial development, fostering innovation, and creating employment alternatives in Lagos State and Nigeria,” Abayomi stated.

Kazeem Olanrewaju, the group’s CEO revealed that the Group commenced enterprise as Alert MFB in 2013.

“Alert Group began as Alert MFB in 2013, and this marks its tenth anniversary. With a complete asset of N27 million and fewer than 10 workers, we broke even in 2014. In the present day, we’ve got complete belongings above 14 billion naira, and over 10 branches in Lagos, and we intend to help companies and develop to over 30 billion belongings by the tip of this 12 months,” he stated.

He additional said the Group had expanded to the digital area to achieve extra SMEs and entrepreneurs which he described as their audience.

“The corporate helps MSMEs, and loans prolonged to companies are over 98 p.c. Client loans are given to entrepreneurs, the world of focus is companies. We’ve supported lower than 35 thousand prospects, however this 12 months, we are going to help 100 thousand prospects by way of our digital channels and extra branches in Lagos,” he said.

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