LAPO Microfinance Bank (LAPO MfB) a premium microfinance institution in Nigeria, has disbursed over N70bn in the first half of the year 2023.

In a release issued by Oluremi Akande, Head of Marketing and Communications, he says “LAPO MFB remains committed to its core mandate of providing easy access to credit to owners of micro, small and medium enterprises, and formal financial services to the financially excluded members of low-income households. The disbursement of over 70bn in HY-1 underscores our firm resolve as an institution to continue to provide micro-credit support to micro, small, and medium businesses to stimulate economic activities and exchanges that contribute meaningfully to economic growth.

Akande reiterates “LAPO MfB, in the last decade, has disbursed over N1 trillion to micro, small, and medium enterprises. Our 2023 strategic objective is to disburse over N200bn by the end of the financial year. Already, we have begun to experience an increase in loan applications from both new and existing customers; a clear indication of meeting our disbursement targets for the year as planned and LAPO’s position as a reliable financial partner.

LAPO Microfinance Bank is committed to its over 30 years’ mandate of social and economic empowerment of members of low-income households and owners of micro, small and medium enterprises in a sustainable manner.

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