Nigeria: The Africa Association of Development Finance Institutions (AADFI) hosted the 2nd Regional Roundtable on Creating World Class Sustainable Development Financial Institutions in Abuja on Monday.
At the session, Olukayode Pitan, Managing Director/CEO, Bank of Industry Limited, reaffirmed the Bank’s commitment to promoting sustainable industrialization in Nigeria by supporting industrial processes with increased resource-use efficiency and increased adoption of clean and environmentally sound technologies.
At the Bank of industry, our commitment to transforming the industrial sector responsibly through best-in-class sustainable business practices has continuously driven us to develop innovative strategies, interventions, and solutions that are propelling the Nigerian economy towards sustained growth.
They are focused on nurturing and expanding the emerging sectors of our economy whilst supporting established segments for increased global impact. The execution of our business strategy continues to earn us the confidence of our stakeholders and the international community’s respect as we rise as a pillar for sustainable industrial growth in Nigeria.
They also shared the pictures with the high-level delegation from Ghana’s newly established Development Bank on a study tour visit to the Bank of Industry. According to Michael Mensah-Baah, Deputy CEO, Development Bank of Ghana, the objective of the visit was to learn from the Bank of Industry’s over 60 years of experience as Nigeria’s leading DFI and one of the best in West Africa.
They strive to improve SMEs’ access to finance by deploying bespoke and demand-driven financial products and by providing proactive support services to catalyze the country’s SME growth and development.
These are provided by the Bank at low rates and are easily accessible through our network of 30 state offices, including the FCT, with plans to expand our operations to all states of the Federation.
Loan Amount: N1.00 million to N1.00 billion Naira
Purpose: Term Loan and/or Structured Working Capital
Interest Rate: Term Loan -10%; Structured Working Capital- 13%-15% (subject to review)
Tenor: Term Loan- 5 – 6 years; Working capital: 2-3years
Repayment: Monthly, Quarterly and Bi Annually