The Microfinance Development Company Ltd (MDCL) has launched a liquidity platform to accelerate microfinance growth in the country.
The Chief Executive Officer of MDCL, Obinna Onunkwo, disclosed this at a high-impact business forum for key stakeholders in the microfinance industry in Lagos recently.
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The forum was themed, ‘The 21st Century MFB: Leveraging Technology to Drive Financial Inclusion in the MFB Industry’ and put together to address some of the critical challenges the microfinance industry was facing.
Onunkwo said: “The objective of creating a shared services platform for the industry has seen the MDCL enter into strategic partnerships with other companies to help them achieve their business goals.
“It is important for all microfinance banks to unite and speak with one voice, so we can have a voice in the bank committee meetings and be able to dictate policies that affect us as an industry.”
The Board Chairman of MDCL, Rogers Nwoke said: “Financial inclusion had been a struggle for a very long time, and we are yet to meet the targets set by the CBN in that regard. One reason for that was the absence of liquidity for microfinance banks.
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