Our Microfinance Bank partners in Nigeria

– Fortis Microfinance Bank

“The partnership between Fortis MFB PLC and AFOS clearly signals the beginning of a ‎revolution in the microfinance sub sector in Nigeria. AFOS has put together an industry changing and transformative  programme that will turn Fortis and by extension the entire microfinance sub sector  around for good. 

The Mid level Management training programme is innovative, timely and it will set the future of Fortis on the path of a world class institution. The feedback from participants have been terrific as the sessions have being impactful, instructive and influencing.

We have seen the impact in the quality of the inputs of participants in their work and we will ensure that every staff of Fortis is transformed by this new spirit and skills as a way to say thank you to AFOS and to the German government. 

The AFOS team have been most outstanding and have professionally conducted the affairs of this project with a world class approach. Today’s workshop in particular has also broken a cultural norm in Nigeria where people are rarely bold enough to speak frankly in workplace due to the African seniority mentality. But with the approach of Bernard, Kenneth and Funmi the participants developed the confidence to let out their thoughts without any reservation. We say thank you. We will ensure that this revolution sustains it momentum until we develop a world-class Fortis that will be the toast of the Microfinance sub sector in Nigeria and Africa.”  

Joseph Onyeabor
Group Head Financial Inclusion
Fortis Microfinance Bank Plc.

Weitere Informationen zur Fortis Mikrofinanzbank finden Sie hier.

– LAPO Microfinance Bank

The AFOS Foundation’s main partner in Nigeria

since 2012 has been the LAPO (Lift Above Poverty Organisation) Microfinance Bank in Benin City. It grants small loans to almost 1.5 million customers, over 90 per cent of whom are women. These have organised themselves in small groups and operate as small businesswomen mainly in

  • petty trading
  • small business enterprises
  • farming

LAPO Microfinance Bank has grown enormously in recent years through the huge demand for small loans and is regarded today as the leading Nigerian microfinance bank. To increase exchange with other financial institutions, LAPO Bank has set up a microfinance platform.

Eine Kundin der LAPO-Bank Nigeria

A customer of LAPO Microfinance Bank, Benin City / Nigeria

When it comes to interest on small loans, LAPO Microfinance Bank is a price-leader in Nigeria.   AFOS Foundation has made an important contribution to this development. It has helped LAPO

  • to become more efficient
  • to reduce internal cost
  • to increase savings deposits for refinancing
  • to considerably increase the number of LAPO’s customers
Best performing Trainee Chiakka receives his Certificate by LAPO Board Member Mrs. Demuren + CEO Godwin Ehigiamusoe

Bester Trainee nimmt sein Zeugnis entgegen

To this end, AFOS Foundation and LAPO Microfinance Bank in their joint project have improved management structures, worked out a personnel development concept and introduced a training and further-training programme at LAPO MFB.

These (and other) measures have ultimately enabled LAPO MFB, to lower interest on small and micro loans of its customers.

The Federal German Ministry for Economic Cooperation and Development (BMZ) substantially has supported und continues to support this project.


Since 1987, the originally non-governmental organisation LAPO has offered simple financial services to persons, who otherwise have no access to such services.  The concept of micro-loans, which are targeted almost exclusively at women, is very much influenced by the model of the Grameen Bank in Bangladesh. Today, this bank is one of the important supporters of the LAPO Microfinance Bank.
The Lift Above Poverty (LAPO) Organisation set up the Lift Above Poverty Microfinance Bank (LAPO MFB) in 2010. Officially licensed as a microfinance bank by the Nigerian Central Bank, it is licensed, to offer financial services at a national level. The bank’s head office is in Benin City, Edo State, Nigeria. Since 2010, LAPO MFB has been subject to audits by the international auditing firm Deloitte.

The Nigerian AFOS project is now in its second phase which will prospectively end in 2018. This AFOS project focuses on

  • instruction and training of Nigerian female microfinance consultants, whose professionalism is to be sustainably increasedAFOS foundation President with the 1st batch of the Mangement Trainees during a round table discussion
  • offers of options and potential of the microfinance sector also in the rural areas of Nigeria
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