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Baobab Microfinance Bank Nigeria, a subsidiary of Microcredit Group, a leading financial inclusion group operating across Africa and China has rebranded to unleash potentials of its customers.
Formerly Microcredit Nigeria, Baobab as a new identity comes with four commitments – to offer simplified services to its customers to allow them to focus on what really matters, Baobab symbolises access to innovation for its customers and their employees, as they digitise more and more of their operations, Baobab revolutionises the banking experience for its customers by placing them at the heart of what they do and above all, Baobab exists to help customers unleash their potentials.
The company has 13 years after its foundation, refreshed its brand and visual identity to reflect the expansion of the product range beyond the provision of credit to micro-entrepreneurs. The company, which now serves over 650,000 customers across 10 markets, has evolved significantly and now provides a wider service offering which addresses a broader range of customers.
Kazeem Olanrewaju, executive officer of Baobab Microfinance Bank, said since 2010, the bank has developed a network of seven branches in Kaduna and Lagos, and currently serving more than 65, 000 customers.
He said the company and its dedicated staff are committed to deliver value for a sustainable benefit of the customers, their families and businesses.
“To do so, he said the company offers a wide range of products: loans, savings plans and savings accounts, and innovative products such as TAKA, a nano-loan which offered to existing customers by SMS and which is available immediately with no further documentation.
Olanrewaju an new product called ‘AJO account’, a monthly savings plans of over 3, 6, 9 or 12 months which allows a customer to choose any period convenient for him, while enjoying a high remuneration rate from six to 100 per cent of his monthly contribution.
He disclosed that the bank would deploy digital banking mechanisms to guarantee their customers an uninterrupted banking experience.
“The whole idea is to have a bank with you anywhere you are: in your home, as you travel, in your business place. The conventional bank that you have today is such that you need to go to the bank. That is what we’re taking away. When you hear the word ‘digital bank’, it’s the fact that we’re saying that you can operate your bank at any time. If you like, wake up in the midnight, the bank is available for you. So that’s one of the things we shall be doing differently,” Olanrewaju said.
Commenting on the rebranding Charles Gill, group chief operating officer said the bank has built secured foundations and become one of the leading providers of financial services in Africa, stressing that the business here in Nigeria was strong and growing rapidly.
“We have a strong relationship with, and deep understanding of our customers; and we aim to build on that to help our customers unleash their potentials wherever they are, and however they access finance,” Gill said.
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