Roadmap to Funding for Microfinance Institutions in Nigeria

The recapitalization of microfinance banks (MFBs) as announced in March 2019 by Central Bank was to forge a virile subsector that will meet the double bottom line mandate of Microfinance Banks in Nigeria. The proposed date was given as April 2020, which gave the MfB a year window for possible capital sourcing, merger, and acquisition as they may deem fit. Unfortunately, the coronavirus pandemic that has ravaged the world economies does not leave the Nigeria Microfinance subsector untouched.

Though the COVID-19 pandemic has imposed great hardship on human, business, and economy, the worst hit being the low-income household, Small and Medium-sized enterprises which the MFB service directly. In April 2020, the Central Bank reviewed its position and gave an extension of another one year for the recapitalization exercise.

The need for microfinance banks to redress and position for another reality besides pandemic is imperative thus the Nigeria Microfinance Platform (NMP) through its secretariat Microfinance Learning and Development Centre (MLDC) has carved out a webinar to address funding and recapitalization.

Panelists

1. Bruno Wenn - Chair, European Development Finance Institutions (EDFI).
2. Bunmi Lawson - MD/CEO EDFIN Microfinance Bank - Nigeria.
3. Rogers Nwoke - National President, National Association of Microfinance Banks in Nigeria.