PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

599221

Primary Business Area

Access To Finance

Disclosure Date

Jul 10, 2014

Country

Nigeria

Region

Africa

IFC Approval Date

Feb 18, 2014

Status

Completed

Estimated Total Budget

$832,849.00
(Project budget includes all project-funded activities)

Last Updated Date

Jun 12, 2021

Project Estimated End Date

Dec 31, 2017

Project Description

Access to Financial Services is low, but improving in Nigeria. By 2012, the proportion of the banked population increased to one third of Nigerians. However, high demand for financial services remains unmet. In order to increase access to financial services for low income and SME customers, AB Microfinance Bank Nigeria in partnership with a local payments processing and switch provider aims to develop a mobile banking and cards solution to enable customers to make transactions remotely at alternative channels. Increased convenience will make it easier for lower income customers to join and use banking services.

Development Results

E&S Risks / Impacts and Mitigation