Lending to small scale business will receive a boost as
The Chief Investment Officer of FMO,
According to Broekhuizen, FMO provide the unique loan to
Speaking on the fund, which is a five-year unsecured term loan, the Managing Director/Chief Executive Officer of Fortis MFB, Mr. Kunle Oketikun, said it will enable the bank deliver on its core services of making funds available to small scale businesses at the least cost.
"This loan will ensure that our esteemed customers have access to finance at cheaper rates and longer tenors," he said.
Oketikun stressed that
"With the introduction of mobile money, electronic banking and internet banking the services of formal financial institution will soon get all Nigerians irrespective of location," he said.
FMO is a Dutch development bank that supports sustainable private sector growth in developing and emerging markets by investing in ambitious entrepreneurs. FMO operates on the philosophy that a strong private sector leads to economic and social development, empowering people to employ their skills and improve their quality of life.
The company focuses on three sectors that have high development impact. The sectors include the financial institutions, energy, and agribusinesses with emphasis on food & water. With an investment portfolio of
Most Popular Stories
- Ukraine Crisis Limits Losses in Gold, Silver
- Can GOP Dodge Immigration Bullet?
- Software Writers Sought in Indiana
- Photo ID Required for Unemployment Benefits
- Chiquita, Fyffes to Form Top Banana
- Job Fair for S.C. Grads
- Tech Firms to Increase Hiring for 4th Year in a Row
- Big Earthquake Rumbles Northern California
- China's Money Rate Drops on Slowdown Concern
- '300' Sequel Conquers Box Office Foes