In furtherance of its commitment to alleviate poverty within the sub-Saharan Africa (SSA) region, Lift Above Poverty Organisation (LAPO) says it committed N113.7 billion to boost Small and Medium Enterprises (SMEs) in 2015 fiscal year.
BusinessDay reports that in the period under review, LAPO Microfinance Bank also expended a total of N612 million to staff training.
Godwin Ehigiamusoe, founder/managing director, LAPO Microfinance Bank, made the disclosure at the 2015 long service and best performance staff awards presentation ceremony in Benin City.
Ehigiamusoe, who noted that the growth and success of LAPO was largely hinged on the commitment and dedication of staff, said over 2.5 million Nigerians and Sierra Leoneans directly accessed a range of the organisation’s services, while another 15 million indirectly benefitted as dependants of clients and staff of the financial institution.
He said the clients’ base of the organisation rose from 1,414,964 in 2014 to 2,073,879 in 2015, an annual growth rate of 46.57 percent, saying the volume of loans regularly disbursed to clients had also grown remarkably from N62.2 billion in 2013, N92.4 billion in 2014, and N113.7 billion in 2015, an average growth rate of 22.96 percent.
While noting that 586,213 women and other vulnerable population in target communities were empowered by LAPO NGO in 2015, he said other subsidiaries of the establishment also made huge investment in staff training.
He further opined that a total of 519 staff members were elevated to various ranks across the organisation in 2015, adding that the organisation currently had a total staff strength of 6,278 and shall rise to 7,210 by the end of the year.
The LAPO boss assured that the organisation would continue to harness its resources towards superior performance in order to remain a major employer of young people in Edo State and beyond.
A total of 105 staff members received 10 to 20 years long service awards, eight received best credit staff award and two best non-credit staff award, respectively.
He however commended the awardees for their various commitment and contributions towards the growth of the organisation and enjoined them not to rest on their oars.
