Foundation of Advans MFB (THM)

active

Through this Financial Cooperation project, KfW is participating in the microfinance institution (MFI) founded in 2012 with headquarters in Ibadan, Oyo State Nigeria, and in the partial financing of the personnel support (PU) required for successful business development. Micro, small and medium-sized enterprises (MSMEs) rarely receive loans from commercial banks. Private households rarely have access to financial services (e.g. loans and savings products). The sector approach with a focus on microfinance in Nigeria aims to improve the sustainable supply of needs-based financial services and access to these. The target group of the measures is primarily MSMEs and the Nigerian population. In recent years, the commitment of Financial Cooperation has been designed in such a way that the individual measures interlock at several levels. This project enables rural and urban MSMEs and private households to have sustainable access to financial products and to make the necessary investments in order to be able to operate economically. Since MSMEs often operate in a labor-intensive manner, positive effects can be expected for the households of the entrepreneurs themselves, but also for their employees and their families. In addition, access to needs-based financial products increases the scope for action of the target group in order to be able to respond to exceptional pressures. The project thus contributes to the global goals for sustainable development of the 2030 Agenda, such as No. 1 No poverty, No. 5 Gender equality, No. 8 Decent work and economic growth, No. 10 Reduced inequalities and No. 17 Partnerships to achieve the goals.