UBA Microfinance

Microcapital reports on the establishment of UBA Microfinance which:

Will target a client base that encompasses micro and small enterprises and family and rural business, with an emphasis on businesses owned by women. UBA Microfinance hopes to provide services which include micro lending, micro investment, micro deposits and small business advisory. Elumelu says that UBA will operate “the new [microfinance] bank from within all the [current commercial] branches of the bank in the urban and rural communities, while separate structures [will be] put in place to meet the upsurge in demand of services by the micro-banking public”.