FORTIS MFB to boost economy through capacity building
NAN-HE-
Capacity
By Lucy Nwachukwu
Abuja, Oct. 14 (NAN) Fortis MicroFinance Bank Plc has assured that it will partner AFOS, a German foundation, to empower the economically active but financially less-privileged citizens in the country through its capacity building project.
This is contained in a document by the Managing Director of Fortis Mfb, Mr. Tiko Okoye, made available to the News Agency of Nigeria (NAN) on Friday in Abuja.
It stated that as part of the project, a Microfinance Institutions Training Centre (MITC), founded on value-orientation of the individual citizen, would also be used to improve the development of the industry in general.
“The Project is founded on the convergence of value-orientation, whereby the individual person is at the center of everything.
“The thrust of the project is to contribute towards improving the lives of the economically active, but financially less privileged citizens in full respect of their person and dignity.
“The partnership will commit to supporting the ambit of the German Partner’s interventions towards promoting the development of the industry.
“This will be done by focusing, without limitation, on interventions in furtherance of the Nigerian Microfinance platform, particularly its working groups and operational structures.
According to the report, Fortis would actively participate and deliberately form part of the drivers of the core structures and interventions of the Nigerian Microfinance Platform (NMP) at all levels.
It stated that the project was demand-driven and would thereby give the primary responsibility for needs identification to the Bank.
“ AFOS will support, advise and assist the process, relying partly on the core competences of its two Long Term Experts and other programme specialists.
“It will rely on the knowledge and experience transfer from its previous engagements and expertise of relevant local and international short-term experts as its role in the project,’’ it stated.
NAN reported that the overall aim of the project was to allow through customised and affordable financial services a sustainable improvement in income for poor families.
This project is aimed at improving the performance of MSME businesses in the informal and semi-formal sector with focus on rural areas and on women and youth.
According to the report, both partners will commit themselves to cooperate on a partnership basis to accompany and support the anticipated growth and expansion of Fortis Mfb.
This followed the Central Bank of Nigeria’s (CBN) National Microfinance Bank licence.(NAN)
LCN/IA
Edited by Idris Abdulrahman