‘Emerging Africa’ acquires microfinance bank to fund farming in Kaduna
Emerging Africa Capital Limited, a non-banking financial group, has acquired 100 per cent shares of Gwong Micro Finance Bank(GMFB), Kagoma to improve rural farming through provision of credit facility in Kaduna State. Speaking at the event, Mr Mahmoud Shaibu Kasandubu, the Group Executive Director, Business Development at Emerging Africa, said the need to provide credit […]
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Emerging Africa Capital Limited, a non-banking financial group, has acquired 100 per cent shares of Gwong Micro Finance Bank(GMFB), Kagoma to improve rural farming through provision of credit facility in Kaduna State.
Speaking at the event, Mr Mahmoud Shaibu Kasandubu, the Group Executive Director, Business Development at Emerging Africa, said the need to provide credit facility to the predominantly farming community was to boost their farming activities.
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He said the credit facility would help them acquire agricultural equipment, seedlings and fertiliser.
“We at Emerging Africa have identified that people in Gwong community are largely farmers that specialise in ginger. We deemed it necessary as part of our strategy to encourage and improve the lives of the people here through the provision of credit facility,” he said.
He enjoined Gwong people to take ownership of the bank and work towards its success.
Also speaking, the acting managing director of Gwong MFB, Blessing Atigogo, called on the people to form themselves into co-operative societies to be able to easily access the loans.
In his remarks, the Kpop Gwong, who was represented by Barnabas Dangana, expressed optimism that the acquisition of Gwong MFB by Emerging Africa would bring good tidings to Gwong and its people.