Accion Microfinance Bank grows e-channel usage by 75% – Taiwo Joda discloses

The managing director of Accion Microfinance Bank (MfB), Taiwo Joda has disclosed that the bank has been able to grow its digital technology adoption by 75% following a drive to increase customers’ usage of the Bank’s e-channels platform.

Joda, at the sideline of the Bank’s ‘Walk for Wellness’ initiative held over the weekend in Lagos said “We have had huge and amazing investments. We were undoubtedly the leader among the microfinance bank sector in Nigeria that has adopted digital technology to transform business. We have our e-channels working and as of the last count 75% of our customers use our e-channels.

“That’s 75% of the 250,000 customers that we serve who use our digital channels. I think that is a huge number considering where we are coming from.”

According to Joda, the initiative was born out of the Bank’s desire to help its staff to live a healthy lifestyle while creating an avenue for bonding due to the seclusion created by the COVID-19 pandemic in 2020.

He equally disclosed that the Bank is planning on having its annual sport festival this year and stated that having the GenZ accounting for about 75% of its workforce speaks to the fact that Accion MFB’s future remains bright.

Joda also stated that the bank is in partnership with some groups to enhance the bank’s operations by delivering the Bank’s mandate of empowering micro-entrepreneurs and low-income earners by providing financial services in a sustainable, ethical and profitable manner.

He further revealed that the bank will list its shares on the floor of the Nigerian Exchange Limited (NGX) at the appropriate time as the decision rests with Accion MFB’s shareholders.

“We will do that (listing) but not in the immediate term but you can’t rule out that possibility. That is a decision for the shareholders to take and I know that at an appropriate time, we will approach the market, but not in the immediate horizon,” Joda said.