A micro­cre­dit con­cern that oper­ates in Nige­ria received a write up in the Van­guard. Lift Micro-Finance works in Nige­ria to help the poor move out of poverty. Most of Lift’s loans go to women.

From All Africa, Moses Nosike inter­views Lift’s man­ag­ing director.

A Benin-based Micro-Finance bank, Lift Micro-Finance, a sub­sidiary of Lift Above Poverty (LAPO) has vowed to tackle poverty and give hope to many espe­cially women who are the bread win­ners of fam­i­lies, through its credit deliv­ery, recov­ery strate­gies and cus­tomer relations.

Accord­ing to the Man­ag­ing Direc­tor of LAPO, Mr. Ehi­gia­mu­soe “We are fight­ing poverty in the land by con­sis­tently pro­vid­ing credit facil­i­ties to small, and medium enterprises.

“We also help in reduc­ing unem­ploy­ment among youths by pro­vid­ing soft loans that can help them estab­lish them­selves since gov­ern­ment alone can­not pro­vide all the jobs needed by thecitizens.”

He said that the bank in its pur­suit to ele­vate more fam­i­lies in Nige­ria has dis­bursed a total of N339,367.00 (Three hun­dred and thirty-nine mil­lion, three hun­dred and sixty seven thou­sand) naira before now. “It has also rolled out attrac­tive customer-focused prod­ucts in its three new credit cen­tres with increased staff strength from 28 to 38.”

Mr. Ehi­gia­mu­soe also said the micro-finance bank ren­ders finan­cial advi­sory ser­vices, con­sumer loans/overdrafts, sav­ings and invest­ments among others.

“In the same vein, LAPO agri­cul­tural and rural devel­op­ment ini­tia­tive also pro­vides afford­able credit and exten­sion ser­vices to rural farm­ers in Nige­ria towards meet­ing their finan­cial and tech­ni­cal needs.”

On the devel­op­ment ini­tia­tive out­reach of the com­pany, he said it has expanded from 176 in 2007 to 1,239 in 2008, rep­re­sent­ing 95% while annual dis­burse­ment rose from N15 mil­lion in 2007 to N124 mil­lion in 2008 with port­fo­lio risk remain­ing below 0.5%.

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