Digital Transformation and the Future of Nigeria’s Microfinance Banking Industry скачать в хорошем качестве

Digital Transformation and the Future of Nigeria’s Microfinance Banking Industry

Nigeria’s microfinance banking industry experienced significant growth in 2024, with total assets reaching N2.8 trillion as of June, a 91.3% increase from the previous year. This surge was driven by a 168% rise in deposit liabilities to N1.3 trillion and a 27.5% increase in net loans, also totaling N1.3 trillion. Despite this progress, ongoing inflation and a high monetary policy rate of 27.25% as of February 2025 have raised borrowing costs, limiting credit access. In this discussion, Adebiyi Olukoya, Head of Non-bank Financial Institutions at Agusto & Co., explores technological gaps in microfinance banks, the success of neo-banks like Kuda MFB and Moniepoint MFB, and the role of financial literacy in promoting cashless transactions. He also addresses the impact of the CBN’s revocation of 179 MFB licenses in 2023, innovative funding mechanisms for growth, macroeconomic pressures on clients, regulatory reforms, agent banking for financial inclusion, cybersecurity risks, and climate change effects on agricultural microfinance portfolios. SUBSCRIBE to our YouTube channel:    / newscentraltvafrica   for more videos Follow News Central on: Facebook:   / newscentralafrica   Twitter:   / newscentraltv   Instagram:   / newscentraltv   LinkedIn:   / feed   Threads: https://www.threads.net/@newscentraltv TikTok:   / newscentraltv   For more content, go to: https://newscentral.africa #NewsCentral #Nigeria #Politics #AfricaFirst #Africa #News #WestAfrica #ECOWAS #Government #Governance