LAPO MfB has deepened its social performance approach by engaging in activities that enhance our client protection principles and support, such as Transparency and Responsible pricing. Others are Prevention of over-indebtedness, Appropriate product design, Privacy of clients' data, and feedback methods, giving LAPO MfB ways to address clients' complaints so that they can be served more effectively.
LAPO Microfinance Bank has demonstrated its commitment to support its clients to provide quality education to their children and wards. In 2007, LAPO applied the USD10, 000 cash prize of the Grameen Foundation’s Excellence in Microfinance Award it won in 2006 as a seed fund to set up a scholarship scheme for children of its clients.
Quality education is critical to the development of a child for a productive adulthood. LAPO Microfinance Bank recognizes the importance of education in personal and national development. Unfortunately, access to quality education for children from low-income households is constrained by limited financial resources. This informed the establishment of the LAPO Scholarship and Skill Acquisition Support Scheme.
The seed fund for this program was the cash prize of USD 10,000 of the Grameen Foundation's Excellence in Microfinance Award in 2006. The primary focus is on support for the Secondary level, as children from low-income households usually drop out of the educational system at the secondary level. Meanwhile, tertiary scholarship has been added to the scheme to sponsor bright beneficiaries to acquire tertiary education. As of December 2022, 3,770 of our clients’ children have benefited from LAPO MfB’S scholarship scheme
To enable children of clients outside the formal educational system to benefit, a Skills Acquisition Scheme was launched in January 2016. The Scheme was piloted in Lagos and Benin but has spread to other states including, Ondo, Kwara, Osun, Kaduna, Imo and FCT. Over Nine hundred (900) awardees have been trained as of December 2022.
The scheme provides funding support for clients’ children through a general balloting and selection process that is organized by the staff but the actual balloting is carried out by clients at the LAPO Branch Council meeting in order to show transparency and fairness of the process.
Several skills or trades are being funded by trades such as dressmaking; Information technology and computer repairs; catering; hairdressing and woodwork. Participants are trained and certified by the National Directorate of Employment and the National Business and Technical Examinations Board respectively LAPO collaborates with the National Directorate of Employment (NDE), National Business and Technical Examinations Board (NABTEB), and Ministry of Women Affairs nationwide to ensure standard training centers are made available to our clients’ children with the required tools and reliable tutors.
In NDE Centers, LAPO pays for Instructors’ and consumable fees for awardees while only Consumable fees are paid for the awardees using Women Development Centers. LAPO equally partners with NABTEB to certify awardees upon graduation. The NABTEB certificate can be used by the awardees as Ordinary Level certificate to gain university admission if they so wish; of which LAPO MfB also provides funding to sit the NABTEB exams.
As a part of our Corporate Social Responsibility, we identify with Non-Governmental Organizations (NGOs) whose objective is to improve the living conditions of the poorest members of the society and make financial provisions for them. Our objective is to make quality health care available to poor Africans who constitute our major target through these NGOs
Focus on clients' social and health needs is paramount to the ultimate poverty alleviation goal of LAPO MfB. Our integration program enables clients to access health information and screening services for early detection of common ailments such as HIV, Malaria, blood pressure (BP), blood sugar, Hepatitis, and Diabetes. Under the program, we also provide our clients awareness and intervention on HIV, Malaria, Maternal and Childbirth, blood pressure, diabetes, and hepatitis
|Health & Sensitization
|Screening Referral Services
|Blood Sugar Test
|Blood pressure testing
Poor health, nutrition and health service exclusion are all indicators of poverty. To address these challenges, we provide health intervention and awareness programs on HIV, malaria, blood pressure (BP), blood sugar, hepatitis, and diabetes. The early detection of these ailments will aid in better health management and life longevity.
We provide micro-insurance to all clients through a third-party insurance service provider. All the borrowers are offered general and personal insurance throughout the loan tenor, even as clients' savings are insured.
Sustainability & ESG Footprint
LAPO Microfinance Bank is leading the advocacy for the adoption of sustainable practices among operators in the micro-finance sub-sector in Nigeria. In 2019, as a member of the Global Alliance for Banking for Values, LAPO hosted the first-ever international sustainability conference in Nigeria, themed “Enhancing Sustainable Finance in the Microfinance Subsector”.
The UN Sustainable Development Goals
LAPO Microfinance Bank positively impacts the environment and promotes social and economic empowerment, while meeting the expectations of current stakeholders and protecting the interest of future generations...
Premium customer support
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- Extended-hours access to our specialized business service team