The Nation Newspaper

Tag: Accion Microfinance Bank

  • Bank brings financial services closer with new office

    Bank brings financial services closer with new office

    Accion Microfinance Bank has unveiled its 74th branch in Ilorin, Kwara State.

    Strategically located, the branch was  inaugurated at an event attended by key stakeholders, community leaders, staff and customers.

    Present, among others,  are Taiwo Joda (managing director/chief executive officer), Ayodeji Mebude (group head of Operations), Stephen Olalere (chief Commercial officer), and Jimoh Babalola (founder of Babalola Academy College of Health Tech, Ilorin).

    The bank’s decision to open a new branch is based on its commitment to providing accessible and affordable financial services to individuals, traders, and small businesses. .

    Prior to the launch, the bank conducted a market storm across key commercial areas in Ilorin, engaging traders and residents to raise awareness about the bank’s services. The team visited Agaka, Gegele, Ita Amodu, Sabo Line, Ipata, Oja-Oba, and Oja Tuntun markets, Taiwo Road, Unity, and Mandate markets. This strengthened the bank’s connection with the local business community and introduced its customer-centric offerings.

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    In his remarks, Joda, reiterated the bank’s commitment to strategically grow its network and retail business to positively impact the individual and business aspirations of its customer base and the public.

    He noted that through a customer-centric approach, Accion is coming from a position of knowledge and experience which allows the bank to effectively address customers’ needs by providing personalised solutions.

    The branch features modern facilities designed for convenience, security, and efficiency. Customers can access business and personal loans, savings, fast and secure digital banking, and customer support.

    Established in 2006, Accion provides innovative solutions, customer service, empowerment and will continue to unveil customer value propositions to provide support and financial resources to help businesses.

  • MfB provides free screening for women

    MfB provides free screening for women

    Accion Microfinance Bank, in partnership with Leadway Assurance, has reaffirmed its commitment to women’s health and well-being by providing free medical checkups to over 100 women at its head office in Lagos. This was in celebration of International Women’s Month and as part of its Corporate Social Responsibility (CSR) efforts.

    The initiative was aimed at  raising awareness about the importance of routine medical check-ups while offering free access to essential health screenings.

    Speaking at the event, Anita Oguni, Acting Head of Marketing Communications at Accion Microfinance Bank, emphasised the critical need to prioritise women’s health, especially in light of the recent rise in diphtheria cases. She highlighted that routine medical check-ups are essential for the early detection and prevention of various health conditions, including communicable diseases.

    Taiwo Joda, MD/CEO of Accion Microfinance Bank, praised the initiative as a significant step towards improving the health and well-being of the community. He urged participants to prioritise their health and take full advantage of the services provided.

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    “At Accion MfB, we believe that access to healthcare should not be a privilege but a right. Many women often put their businesses and families before their own health, but this program ensures they get the care they deserve. This initiative is part of our ongoing commitment to empowering women and strengthening communities,” he said.

    Following these remarks, participants benefited from a range of essential health screenings, including blood pressure checks, diabetes screenings, and general wellness consultations, all aimed at promoting a culture of proactive and preventive healthcare among women.

  • Microfinance bank stresses impact of digital lending on informal sector 

    Microfinance bank stresses impact of digital lending on informal sector 

    Accion Microfinance Bank is to explore impact of digital lending at its seventh annual Financial Inclusion Seminar: “Digital Lending: A Path to Financial Inclusion or a Barrier for the Informal Sector?” virtually on December 5.

    This event continues to solidify the bank’s position as a key player in the financial inclusion sector, driving transformative conversations and shaping future of inclusive finance.

    Accion MfB has been in the forefront of driving conversations about the evolving role of microfinance banks in expanding access to financial services. From the 2017 seminar that outlined a vision for making financial inclusion a reality by 2020 to last year’s focus on digital literacy, products, and services, the Financial Inclusion series has explored areas shaping financial access for excluded communities.

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    This year’s theme builds on this legacy by addressing impact of digital lending platforms on the informal sector. As a microfinance bank dedicated to bridging financial gaps, Accion MfB will continue to lead discussions on how digital solutions can be used responsibly to empower the low-income society.

    The global push towards financial inclusion has made progress, primarily through rise of digital platforms and technologies. A notable development in this landscape is emergence of digital lending. Peer-to-peer lending and other forms of digital credit provide financial access to the informal sector.

    The event will bring together a diverse audience from the financial services ecosystem, including policymakers, regulators, microfinance institutions, fintech innovators, development organisations, civil society, impact investors, and representatives from financially excluded communities. This interactive digital platform is an opportunity for stakeholders to discuss and develop solutions to ensure financial inclusion in the digital age.

  • Accion Microfinance Bank appoints Christian Ruehmer as board chairman

    Accion Microfinance Bank appoints Christian Ruehmer as board chairman

    Accion Microfinance Bank has announced the appointment of Christian Ruehmer as its new board chairman, effective April 18th, 2024.

    This strategic move marks a significant milestone in the bank’s journey, as it continues to expand its footprint in Nigeria’s microfinance sector.

    As a globally recognized expert in risk management, investments, and treasury, Ruehmer brings an unparalleled wealth of experience to the bank.

    With over two and a half decades of shaping financial institutions in developing markets, he has established a proven track record of building resilient and profitable organizations.

    His expertise in navigating complex risk landscapes, and his deep understanding of the financial industry, make him ideal to guide Accion MfB’s strategic direction and ensure its long-term sustainability.

    Ruehmer’s career includes significant roles in multinational financial institutions including Deutsche Bank and WestLB, where he served as Deputy Treasurer, Managing Director of a Structured Investment Unit, and excelled in Portfolio Management, Risk Management, and Workout/Restructuring.

    Throughout his banking career, from 1989 until 2013, he worked in Frankfurt, Mexico City, Madrid, and New York.

    Since 2001, Christian has advised more than 120 Financial Institutions, investees, and international organizations in developing countries, specializing in Risk Management, Investments, and Corporate and SME Lending.

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    He has also held prominent positions such as Head of Risk Management (2013-2020) and Chief Investment Officer (2020-2022) at Bamboo Capital Partners, a Fund Manager specializing in debt and equity investments in the impact space and for a fund manager in the impact investment sector.

    He is also the founding Partner and CEO of Q-Lana, a digital loan/asset management platform solution with a focus on corporate/SME lending and fund management with numerous customers across Africa

    In 2004, he founded Proyecto Horizonte, a community development program in Bolivia. This program has grown over the years and now helps over 3000 children annually through various initiatives in education, health, and community services.

    He completed his studies at Frankfurt School in Germany, earning a Diploma in Banking and Finance. Additionally, he holds prestigious certifications as a Chartered Financial Analyst (CFA) and a Financial Risk Manager (FRM).

    Ruehmer’s appointment is a testament to the bank’s commitment to strengthening its governance and risk management framework and remaining at the forefront of innovation and excellence in the microfinance sector.

    His leadership will be instrumental in driving Accion MfB’s mission to empower Nigerian entrepreneurs and small businesses, providing them with accessible and affordable financial services.

    “We are delighted to welcome Christian to the Accion MfB family,” the statement said. “His passion for driving positive change, combined with his extensive experience, aligns perfectly with our vision to support economic growth and development in Nigeria.”

    As Board Chairman, Ruehmer will represent Accion Africa-Asia Investment Company on the Board of Accion MfB.

    Since its inception in 2006, Accion MfB has been a pioneer in Nigeria’s microfinance sector, providing innovative financial solutions to underserved populations.

    The bank’s proven history of supporting entrepreneurs and small businesses has contributed significantly to economic growth and development.

    With Ruehmer at the helm, Accion MfB is poised to continue its trajectory of success, driving positive change and empowerment in Nigeria’s microfinance ecosystem.