Strategic business plan for microfinance bank in nigeria things

Chief Executive Officer The Chief Executive Officer will be tasked with providing work direction for the business He will be tasked with building, communicating, and implementing the vision, mission, and direction of AMB LLC — which also includes leading the achievement and implementation of all strategies.

Strategic business plan for microfinance bank in nigeria things

In order to hit that target byNigeria will need to increasingly globalize education in two key areas: Information and communications technology, and entrepreneurship.

In fact, President Obasanjo has mandated that all university students in Nigeria, regardless of their major, will need to study entrepreneurship. He and a colleague, Olayinka David-West, a lecturer in information systems at Lagos Business School, recently spent time with The Wharton Small Business Development Center exploring how to set up an entrepreneurship program in Nigeria.

The Nigerian economy, historically, has depended significantly on oil revenues. As the country tries to diversify away from dependence on oil, how important is entrepreneurship to the future of the Nigerian economy?

Well, entrepreneurship is a must now, judging by the figures that are coming out of the Education Ministry. Because of that, people go into one entrepreneurial venture or another, but unfortunately they have not been adequately prepared to face the challenges of venturing.

Now it has become necessary for us to put that into the curriculum in developing these graduates. What are some of the areas these students could go into?

strategic business plan for microfinance bank in nigeria things

What fields of entrepreneurship, what industries, what projects? I think basically it would be just to start, first of all, with the basic level process of venturing. It could be anything.

So that is the kind of thing we are looking at. You would help them write a business plan, teach them those kinds of skills, project costs? Even that might be too high at the beginning.

In my center, yes we do that, we actually help people develop their business plans and all that; but right now, what we are saying is let the people begin to think about the process of entrepreneurship as a first step.

A Sample Microfinance Bank Business Plan Template

Then, after that, they can come to centers like mine, and then we can take it to another level. I wonder what some of the challenges are that you face in encouraging entrepreneurship in Nigeria.

Let me just offer one specific example. In Nigeria, as in many other developing countries, there has been a legacy of corruption. Do you see that as a big obstacle, and how do you plan to tackle that?

Corruption is something that is relative, and it exists in virtually all economies, not necessarily developing economies or indeed Africa — although based on the structures in the more advanced countries, they are able to control or to curb these kinds of practices. I can tell you that in the last few years, in Nigeria, the EFCC, which is the economic crime and financial institution set up by the government, has been able to actually deal largely with corruption in Nigeria.

They have made quite a substantial amount of investigation and recovery. But that is not the real constraint that retards entrepreneurship in Nigeria, based on the research that I did about two or three years ago.

So this is one area where we are lacking —for instance, if you want to have access to the U. Until we are able to create that very well and let people understand it, and produce to be able to meet the needs of the market, then we will not be able to move forward.

Thirty percent of our not being competitive is based on infrastructure. Power — just power, public supply and power. But in four years, based on the reform agenda of the government — two things are driving entrepreneurship in Nigeria are reforms and regulation, and we will come to that — they liberalized these sectors that were up until then being controlled by government, so there is more transparency in it, and entrepreneurs are able to venture into these sectors that the government controlled up until then.

Today we have maybe about 10 million lines, the majority of which are either mobiles or fixed wireless.

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So we are able to cross the bridge of infrastructure and all that, even though it still rears its head in different ways, because we still need to power the substations, etc. And power is still a problem, so we have to invest in generators and use diesel and all that.A Sample Micro lending Business Plan Template Business Overview Even in hard economic conditions, people and enterprises go for loans to be able to pay for the purchase of real estate and other transactions, which in turn make the lending business a recession-proof business.

Addosser Microfinance Bank Limited is an innovative financial institution dedicated to improving the living condition of everyday people through value-added financial products and services.

The bank was incorporated in and is duly licensed by the Central Bank of Nigeria as a microfinance bank. A second goal of the Strategic Business Plan is: to achieve operational excellence in all target markets in which JEFAM operates. target communities ii.

Attract at least ten applications from experienced (5years or more) credit officers & microfinance managers from the industry every year starting from year We expose Lapo Microfinance Bank: Reinventing Microfinance In Nigeria case study showing its method as an effective approach to conducting business researches and present Lapo Microfinance Bank: Reinventing Microfinance In Nigeria simple solution for Lapo Microfinance Bank: Reinventing Microfinance In Nigeria case studies.

Strategic Marketing for MicroFinance Institutions Graham A.N. Wright, David Cracknell, Leonard Mutesasira market-led approach to their business (Anyango, Sebtsad and Cohen, ). Importance and Role of Marketing Strategy and Plan.

For Personal use: We are Nigeria Business Plan Writers and Consultants and have written professional business plans to our clients in different industries.

AB Microfinance Bank Nigeria is a foreign-owned financial institution, based in Lagos state, which offers a broad range of financial services to micro, small and medium-sized enterprises (MSMEs) and other clients in the lower income strata.

Entrepreneurship in Nigeria: Mission and Challenge - [email protected]