Letshego Microfinance Bank Nigeria named Affirmative Finance Action for Women in Africa initiative’s first “Affirmative Finance Action for Women in Africa (AFAWA) Bank of the Year” at African Business Awards

Letshego Microfinance Bank Nigeria named Affirmative Finance Action for Women in Africa initiative’s first “Affirmative Finance Action for Women in Africa (AFAWA) Bank of the Year” at African Business Awards

A Lagos-based microfinance loan solutions company that disbursed more than half of its loans to women-led micro and small enterprises last year, has been named the “Affirmative Finance Action for Women in Africa (AFAWA) Bank of the Year” at the African Business Awards ceremony.

The annual ceremony celebrating excellence in the continent’s banking sector, took place on Wednesday 24 May during the African Development Bank Group’s Annual Meetings in Sharm El-Sheikh, Egypt.

The Leshego Microfinance Bank Nigeria, also known as Letshego MFB Nigeria, received the award named after the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) programme.

AFAWA seeks to close the estimated $42 billion finance gap for women-owned small and medium-sized enterprises (SMEs) by unlocking up to $5 billion of financing for over 30,000 women business owners in Africa.

“We are delighted because our purpose is to Improve Lives of our customers by creating financial access and accelerating financial inclusion by providing creative funding for micro and small entrepreneurs in the region. [Being named AFAWA Bank of the Year] will enhance our brand positioning and increase trust and our reputation with women-led businesses,” said Richard Tyotule, Head of Sales and Distribution at Letshego MFB Nigeria.

In partnership with the African