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Olive MFB restates commitment to grassroots empowerment

By Michael Eboh
Olive Microfinance Bank Limited has reiterated its commitment to Nigeria’s economic development, through the empowerment of the grassroots populace.

Speaking at a forum for market leaders organised by the bank in Lagos, Mr. Chuba Okoye, Director, Business Development, Olive MFB, stated that the bank intends to achieve its aim through efficient and high quality service delivery, by entering into a partnership with the grassroots populace.

He further stated that its collaboration with the group to alleviate poverty in the state was a shared vision to empower the active poor to succeed in life.

Okoye noted that the bank also aims to sustain empowerment of its customers to access micro-credit products and other financial services through innovative financial solutions to meet their medium and long term project financing requirements.

He added that part of the bank’s overall objective also include identifying viable business that would bring enormous benefits to both the bank and its customers at all times.

Mr. Fred Ogah, Chief Operating Officer of the company said despite the unfriendly operating environment, the bank’s future remains strongly positive.
According to him, the company shall continue to respond to the increasing pressure from under-performing national economy, and from a growing band of very nimble competitors in its operating environment, by intensifying and broadening  the company’s offerings in depth and breadth.

Ogah  noted that the bank which commenced operations two years ago has distinguished itself in its areas of operation and a major contributor to the advancement and development of Nigeria through the provision of micro-credit facilities.

Mrs. Chinyere Usen, the company secretary, said that what the bank intend to achieve in organising the forum was to continue to extract people from poverty circle and launch them to a realm of prosperity through disbursement of micro- credits to artisans and corporative societies.

Usen noted that Olive had been in steady growth since it opened for business last two years, adding that the bank has grown its paid up capital from N20 million to about N400 million which she attributed to the collective efforts of efficient board of the bank.

Some of the leaders from different markets and co-operatives across the state who attended the forum expressed optimisms about the way the bank has impacted positively on the people and pledged their support to the vision and mission of the bank to empowering the active poor to succeed.

Mrs. Dupe Ojo, women leader of Mile12 market, appealed to the bank to give out more loans to customers especially the small scale traders.
“When others lost their head during the crisis, Olive was held high, they have weathered the storm of banking reforms, now they should be able to give out more loans to empower the poor,” Ojo said.


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