Who owns Baobab Microfinance?
Founded by Arnaud Ventura, its CEO, in 2005, Baobab employs more than 3,800 people and has over 1,000 points of presence across Madagascar, Senegal, Nigeria, Ivory Coast, Mali, Zimbabwe, Burkina Faso, Tunisia, Democratic Republic of Congo and China.
What is Baobab Microfinance Bank?
Baobab Microfinance Bank Nigeria is a subsidiary of Baobab Group. Baobab Group serves more than 700,000 clients across ten countries. The Group consists of 3,000 employees spread across 1,200 branches and Baobab points. Baobab commits to offering personalised, responsible and secure financial services and products.
When was baobab established?
2005
Baobab was created in 2005 under the name MicroCred to provide loans to micro, small and medium-sized entrepreneurs (MSMEs).
Who is the CEO of Baobab Microfinance bank?
Philip Sigwart is currently the CEO of Baobab Group. He has been actively involved in the top level of finance institutions for over 25 years.
What is the interest rate of baobab Microfinance bank?
7%
The interest rate charged by Baobab on loans is a minimum of 7% with the total dependent on the tenor of the loan. Micro lending is the provision of financial services for people who don’t have access to traditional financial services such as banks.
How do I check my baobab account balance?
Activate your Mobile code at your branch!
- Balance Enquiry : *723*348*0#
- Airtime Recharge for others : *723*348*phone number*amount#
- Airtime Recharge for self : *723*348*amount#
- Funds Transfer : *723*348*account number*amount#
- Bill Payment self e.g DSTV : *723*348*biller code*amount#
Which country has the most baobab trees?
1. Madagascar. Located on the west coast of the Indian Ocean, the island of Madagascar is considered to be the home of baobabs. Six of the nine species in the world grow in this small African territory.
How many branches does baobab have?
4 billion as at May 2021. The bank currently has 24 branches located in Lagos, Ogun, Oyo, Kaduna, Nasarawa and Federal Capital Territory (FCT).
How does Baobab loan work?
The loans are aimed at individuals who were previously considered “unbankable” by larger banking institutions. These are borrowers who are possibly dealing in small amounts of money each day, living in hard-to-access areas, without credit histories or who don’t meet “traditional requirements” within the banking sector.
How do you transfer on Baobab?
Customer journey
- Visit any Baobab branch.
- Request for transfer form and fill details.
- Fund is transferred immediately to any bank of your choice.
What does baobab fruit taste like?
But baobab – pronounced bay-oh-bab – jam, which is made from the pulp, is more appetising. It looks like dark honey. The taste is tart – akin to lemon curd – and the texture gritty like a tangy pear.
Are there baobab trees in Nigeria?
In Nigeria, baobab tree is cultivated and used traditionally in the northern parts of Nigeria. While the all parts of the tree are utilized for different uses, the fruit, seeds and leaves of the baobab tree are highly prized for their nutritional and medicinal qualities.
How many branches does baobab have in Nigeria?
24 branches
4 billion as at May 2021. The bank currently has 24 branches located in Lagos, Ogun, Oyo, Kaduna, Nasarawa and Federal Capital Territory (FCT).
Is Baobab loan Real?
Baobab Microfinance Bank is a CBN licensed institution offering loans for multiple purposes in Nigeria.
What is the interest rate of baobab Microfinance Bank?
4.7%
How Baobab Microfinance Bank Loan for SME Compare to Other Lenders
| Provider | Amount | Interest Rate |
|---|---|---|
| Baobab MFB | ₦20,000 – ₦10,000,000 | 4.7% |
| LAPO MFB | ₦30,000 – ₦5,000,000 | 5% – 25% |
| Renmoney | ₦50,000 – ₦6,000,000 | 35.76% |
| Skystone Capital | ₦100,000 – ₦4,000,000 | 6% |