Rosabon Financial Services Empowers SMEs

Rosabon Financial Services has re-affirmed its commitment to supporting the undertakings of small and medium scale enterprises (SMEs) in all sectors across the country.

Ms. Chidimma Onyeokoro, Head, Marketing and Strategy at Rosabon, said: “The financing of projects implemented by SMEs is our central focus, as the SME sector represents the engine of growth, innovation and creation of new employment.”

According to her, the firm provides flexible and convenient access to lease acquisitions, loan financing, financial planning, counseling and related services that enable long-term productivity, growth and better compatibility with a dynamic and complex economic environment such as Nigeria.

“The organization prides itself in delivering value-added services to its customers and has set in place packages to facilitate the growth of young businesses in Nigeria. As a result, three financial products were carefully designed to suitably meet the peculiar and specific needs of individual customers and business owners alike.

“One of such products is the Rosabon Earning Program (REAP), designed to accept and grow funds from individuals with the principal and interest paid back upon maturity. Individuals who are gainfully employed with a need to save towards a long-term project can benefit immensely from this product as it encourages a disciplined saving culture,” she said.

Chinazor Ovuike, a beneficiary of REAP, said the product has helped him to reduce unnecessary spending. “I am now able to budget wisely and control my spending urges as I have a target I am working towards with my investment.”

With REAP, an agreed amount is placed by customers monthly over an agreed duration of time between two to five years, after which customers receive the amount they originally placed plus interest with a minimum rate of 7.5 percent per annum at the expiration of the agreed duration of time.