Baobab customer ?

28 March 2025

Baobab Nigeria recently hosted a press conference in Lagos

Baobab Nigeria recently hosted a press conference in Lagos

Baobab Nigeria recently hosted a press conference in Lagos. This event brought together the Board of Directors, key stakeholders, industry leaders, and regulatory bodies, reinforcing our mission to drive financial inclusion and economic growth across Nigeria.

With a loan disbursement of over N500 billion since inception, Baobab Nigeria has played a significant role in supporting micro, small, and medium enterprises (MSMEs). To date, we have served nearly 300,000 clients and disbursed close to 500,000 loans, making financial services more accessible to underserved communities.

Speaking at the event, Philip Sigwart, CEO of Baobab Group, highlighted the importance of Baobab’s role in Nigeria’s financial ecosystem. “Small businesses are the backbone of Nigeria’s economy. We are committed to creating a sustainable financial system that empowers entrepreneurs and fuels economic growth. By continuously innovating, we strengthen our mission to provide accessible financial services to businesses in Nigeria and across Africa.”

Baobab Nigeria has also seen significant expansion, with its gross loan portfolio (GLP) reaching N60 billion and total assets standing at N80 billion as of December 2024. This reflects not only the increasing demand for Baobab’s financial solutions but also the bank’s resilience in supporting businesses despite economic challenges.

Eric Ntumba, MD/CEO of Baobab Nigeria, emphasized the sustainability of this growth: “We have managed to keep a very low Portfolio at Risk while nearly doubling our loan portfolio in just one year. Our approach is centered around the 3Ps—People, Planet, and Profit. This ensures that we provide well-balanced services that positively impact communities.”

As Baobab Nigeria continues to expand its footprint, financial inclusion remains a top priority. Rotimi OyekanmI, Board Chairman of Baobab Nigeria, reaffirmed the bank’s dedication to reaching underserved regions: “Our goal is to bridge financial gaps by expanding to all 36 states in Nigeria, especially in areas with limited access to banking services. We want to ensure that financial inclusion reaches every corner of the country.”

The presence of the Board of Directors at the press conference underscored Baobab’s leadership in the financial sector and its long-term commitment to supporting Nigerian entrepreneurs. As Baobab strengthens its impact, it continues to build trust, drive innovation, and create lasting financial solutions for small businesses and individuals.

Baobab Nigeria is not just a financial institution, it is a partner in growth, committed to empowering businesses, fostering economic prosperity, and making financial services truly accessible for all.

Partager: