Abayomi Oluyomi, the Lagos State commissioner for financing, has revealed assistance for some efforts by Alert Group Microfinance Bank.
Speaking at the 10th anniversary of the Alert Group MFB and the opening of their brand-new head workplace in Lagos, he explained Alert Group as a partner for development due to their function in allowing Small and Medium Enterprises (SMEs.
“In the previous 10 years, Alert Group has actually been at the leading edge of empowering SMEs in Lagos State, paying out over N30 billion in loans to over 30,000 individuals, and little to medium companies over that duration, which is rather impressive.”
“To this end, Alert MFB is a partner for development. As we collect here, it is necessary to acknowledge the essential function that ALERT MFB as an SME enabler is playing in driving financial development, cultivating development, and producing job opportunity in Lagos State and Nigeria,” Abayomi stated.
Kazeem Olanrewaju, the group’s CEO exposed that the Group started service as Alert MFB in 2013.
“Alert Group began as Alert MFB in 2013, and this marks its 10th anniversary. With an overall property of N27 million and less than 10 personnel, we recovered cost in 2014. Today, we have overall possessions above 14 billion naira, and over 10 branches in Lagos, and we plan to support organizations and grow to over 30 billion possessions by the end of this year,” he stated.
He even more mentioned the Group had actually broadened to the digital area to reach more SMEs and business owners which he referred to as their target market.
“The business supports MSMEs, and loans reached organizations are over 98 percent. Customer loans are offered to business owners, the location of focus is services. We have actually supported less than 35 thousand consumers, however this year, we will support 100 thousand consumers through our digital channels and extra branches in Lagos,” he specified.