Kogi Entrepreneurs Urged to Leverage Microfinance for Expansion 

Entrepreneurs, small-scale business owners, market women and others have been urged to take advantage of the establishment of Baobab Microfinance Bank in Lokoja, Kogi state, to expand their businesses.

The Chief Risk Officer of Baobab Microfinance Bank, Babatunde Omolere, said this while speaking at the official opening of Baobab Microfinance Bank in Lokoja, Kogi state capital.


He has described Kogi as a conducive environment for business, stressing that the bank would uplift many vulnerable people.He explained that Baobab has survived several years, linking its stability with the strength of the Baobab tree from where it derives its name.


Omolere, who went down memory lane, stated that the bank started in Kaduna with only one branch fourteen years ago.


“Today, the bank has six branches in Kaduna, three in Kano and 12 branches in Lagos. We are in Kogi to open opportunities for the most financially-vulnerable hardworking businessmen and women who are ready to grow their businesses within the shortest time and have been denied financial access,” he noted.


He explained that the bank first opened in Kogi in February 2023, and that the branch has over 750 clients and has successfully disbursed a total sum of N650 million loans.

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