Connect with us

E-Business

AMSCO Supports Microfinance Firm to Boost Women Entrepreneurs

Published

on

Kindly share this post

Lift above Poverty (LAPO), a microfinance institution committed to raising the socio-economic status of low-income people particularly women in Nigeria, is on its way to becoming a world class organization through the support of the African Management Services Company (AMSCO).

Motivated by the need to strengthen the company’s financial management processes, the management of LAPO sought the assistance of established management and capacity building organization, AMSCO.

In response to the request, AMSCO seconded Dr. Kamakhya Singh, to join LAPO’s administrative board as the Chief Finance Officer, to better position the organisation for the transformation into a licensed Micro Finance Bank and also assist with subsequent expansions. The strategic input of the manager has helped the organization reach a wider group of clients within the last few years.

According to Mr. Godwin Ehigiamusoe, executive director, LAPO, “Since the strategic partnership with AMSCO, we have been able to touch more lives in the last years and provide more solutions to women entrepreneurs than ever before. AMSCO’s input has had a tremendous impact on our operations.”

Commenting on the progress made since his deployment to LAPO, Dr. Kamakhya Singh said, “There has been remarkable success in skills transfer to the local staff, particularly in the finance department. The number of projects executed has also increased by a large margin. This comes even as LAPO recently celebrated two major milestones at the Microfinance Conference it hosted on the 17th October, 2013 in commemoration of World Poverty Day. The first of these milestones is the achievement of a client base of one million, while the second is the cumulative disbursement of one billion US Dollars.”

LAPO has enjoyed robust growth, now serving more than 500,000 microenterprise borrowers, 90 percent of whom are women. This growth has enabled LAPO to lower interest rates by almost 20 percent, and it has also become the first microfinance provider in Sub-Saharan Africa to use a nationally representative poverty scorecard to select its clients and track their poverty levels.

The organization aims to continue to enhance leadership skills, literacy status and political participation among poor women.

“Being associated with LAPO has been one of the highlights of my years at AMSCO. The institution has successfully pulled hundreds of Nigerians, mostly women out of poverty by listening to its customers and by focusing on adapting its operations to their needs. This is financial inclusion at its best,’’ said AMSCO Regional Manager; West & Central Africa, Mohamed Ky.

AMSCO is a special purpose project of the UNDP, established in 1989 to rollout the African Training and Management Services (ATMS) Project in order to assist African enterprises to become globally competitive, profitable and sustainable.

The International Finance Corporation (IFC) is the Executing Agency and the African Development Bank is the Regional Coordinating Agency for the Project.


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Continue Reading
Advertisement
Comments

E-Business

Hisense Electronics Unveils Flagship Showroom in Abuja

Published

on

Kindly share this post

By Fabian Tarpael, Abuja

Hisense electronics unveiled a flagship showroom in Abuja over the weekend. Speaking at the event, Mr. Mustapha Khries, the Abuja Branch Manager of the Fouani Group, highlighted the significance of the flagship store, describing it as the first of its kind in the entire West African region.

He also addressed the challenges facing businesses in Nigeria, particularly the high exchange rates and transportation costs.

“The Fouani Group remains resilient and ready to overcome challenges, unlike others who often exit the market when faced with similar issues.”

Ms. Haifa Du, Senior Sales Manager for Hisense Electronics, emphasized the brand’s commitment to affordability and innovation, stating that Hisense offers the most cost-effective and advanced solutions in the market.

The event underscored Hisense’s dedication to technological innovation and sustainability while reaffirming its leadership position in the consumer electronics market.

Mr. Robbin Wei, Senior Sales Manager of Hisense Group, supported by Mr. Greg and Ms. Haifa Du, showcased various innovative products from the new flagship store.

Among the standout products showcased include; The Hisense 110″ Smart Ultra AMOLED TV, featuring unique capabilities such as a solar-powered remote control and a “locate remote” function to find misplaced remotes easily.


Kindly share this post
Continue Reading

E-Business

PalmPay, Jumia Partner to Launch Integration for Shoppers in Nigeria

Published

on

Kindly share this post

PalmPay, Africa-focused fintech operating Nigeria’s most used mobile wallet, and Jumia, Africa’s e-commerce giant, today announce a strategic partnership to enhance the digital payment ecosystem on the continent, starting with payment integrations and co-marketing efforts in Nigeria.

This partnership underscores both parties’ commitment to developing the digital payment ecosystem in Nigeria and grow the use of the cashless economy.

WIth PalmPay now available as a payment method, shoppers on Jumia will now be able to pay for their purchases with the option to check out with their PalmPay wallet, ensuring a seamless user experience and transaction reliability through the direct integration.

“We are proud to partner with Jumia as we bring together the best of fintech and e-commerce to redefine the online shopping experience,” said Sofia Zab, Chief Marketing Officer, PalmPay. “This strategic alliance aligns perfectly with our shared commitment to delivering a superior user experience and exceptional value to our customers.”

Speaking on the partnership, Sunil Natraj, CEO, Jumia Nigeria added: “At Jumia, we are dedicated to creating value for our customers by ensuring a convenient, reliable, and secure shopping experience.

“This partnership with PalmPay strengthens our commitment to enhancing the digital payments within our platform. By integrating PalmPay, we are providing more options for customers to access affordable and quality goods with the convenience of cashless transactions.”

This alliance marks the beginning of a long-term collaboration between two industry giants, aiming to drive innovation, increase convenience for consumers, and foster the adoption of digital payments across Africa.

To celebrate the launch of the partnership, PalmPay and Jumia are launching a special Christmas campaign, running from December 11th to 30th. During this period, customers who make purchases on Jumia using the PalmPay payment method will stand a chance to win exciting cash rewards. More details can be found on the brands’ respective social media pages. @palmpay_ng and @JumiaNigeria.


Kindly share this post
Continue Reading

E-Business

Aero Contractors Launches “12 Days of Christmas” Campaign

Published

on

Kindly share this post

Aero Contractors is thrilled to announce the launch of its “12 Days of Christmas” campaign, a festive and engaging social media initiative designed to spread holiday cheer and reward loyal customers.

Running from December 13 to December 24, 2024, this exciting campaign underscores Aero Contractors’ commitment to connecting families, friends, and communities during the holidays.

The “12 Days of Christmas” campaign invites travel enthusiasts, loyal customers, and holiday travelers to participate in fun and interactive activities on Aero Contractors’ social media platforms, including Instagram, Facebook, and X (formerly Twitter). Each day will feature engaging posts such as trivia, puzzles, and challenges designed to ignite the festive spirit and encourage community participation.

Participants are encouraged to follow Aero Contractors’ social media pages, engage with the daily posts by liking, commenting, or sharing, and follow the specific instructions for each day’s activity.

Winners will be selected daily and announced on the respective platforms. Exciting prizes await participants, with the grand reward of a free return economy class ticket—a perfect gift for reconnecting with loved ones or exploring new destinations this holiday season.

“At Aero Contractors, we believe in the power of togetherness, especially during the holidays,” said Capt. Ado Sanusi, Managing Director of Aero Contractors.

“Our ‘12 Days of Christmas’ campaign is our way of giving back to the community that has supported us throughout the year. It’s an opportunity to engage, celebrate, and reward our customers while spreading joy and festive cheer.”

This campaign targets travel enthusiasts, loyal Aero Contractors customers, and families looking to make the most of the holiday season. Through this initiative, Aero Contractors reaffirms its dedication to safe, reliable, and efficient air travel, bringing people closer when it matters most.

Follow Aero Contractors on Instagram, Facebook, and X to join the “12 Days of Christmas” campaign. Engage daily for a chance to win a free return economy class ticket and other exciting offers.


Kindly share this post
Continue Reading

Trending