Microfinance Bank Says Poised To Fight Poverty At Lagos Trade Fair | Independent Newspapers Limited
Newsletter subscribe

Business, Slider

Microfinance Bank Says Poised To Fight Poverty At Lagos Trade Fair

Posted: Nov 9, 2015 at 9:30 am   /   by   /   comments (0)

Mr Godwin Ehigiamusoe, the Managing Director, Lift Above Poverty (LAPO) Microfinance Bank said on Sunday that the bank had joined forces with the government to reduce poverty in the country.

Hesaid at the ongoing Lagos International Trade fair that the bank’s participation with some new products for Nigerians with low income was part of the efforts at fighting poverty.

He said the products if embraced by all Nigerians, not only low income earners, would help to address poverty.

“LAPO researched on the products and l believe that they would enhance the standard of living of low income earners and the populace as a whole,’’ he said.

The products unveiled include Environmental and Social Governance (ESG), Festival Savings Account (FSA), Asset loans, SME Lending, Affordable housing and Clean Energy Financing.

The LAPO boss said the bank’s intention, when it developed ESG, was to impact the environment, as well as promote socio-economic empowerment.

“We want to meet the expectations of current stakeholders and protect the interest of future generations and thereby achieving the triple bottom-line of people, planet and profit.

“To this effect, LAPO initiated the installation of first aid boxes and fire safety equipment in all its branches across the country.

“The staff are being trained periodically on fire safety, surveillance and emergency first aid at the workplace.

“Inverters are being installed in order to reduce energy consumption as well as energy saving bulbs; all annex offices have industrial printers,’’ he said.

He said the FSA was to enable clients accumulate money for domestic expenses during festive periods.

“The Asset loan as the name implies is targeted at helping existing clients of LAPO to purchase assets such as generator, refrigerator, grinding machines etc. that will further enhance their enterprises.

“In fact all the seven products above, even more from us are capable of winning the war on poverty which has become `mammonic” in this country,’’ he said.