Ajewole Microfinance Bank is a leading Nigerian financial institution licensed by the Central Bank of Nigeria (CBN) in Nigeria on 29-11-1995. The Company was incorporated as a Private Limited Company in 2019 and commenced operations following the grant of a license by the Central Bank of Nigeria to operate as a National Microfinance Bank in the same year.
The Bank is owned 75% by the Bankers Committee, 15% by AJEWOLE Community and 10% OYO STATE Government.
Delivering transformative financial and non financial services all over Nigeria.
Transforming banking to put the world’s opportunities in your hands.
Ajewole Microfinance Bank gives a new definition of banking. We are a pro-poor financial institution committed to the social and economic empowerment of low-income households through provision of access to responsive financial services on a sustainable basis. The Institution was established in the late 1980s as a Non-Governmental Organization (NGO) in response to the effects of the implementation of the Structural Adjustment Programme (SAP) in 1986.
The Group’s inclusive finance agenda is focused on providing underserved customers with access to simple, appropriate and accessible financial solutions. These broad based, innovative and competitively priced solutions include loans between #100,000 and #5,000,000 appropriate to its customers’ every day needs, mainly through the deduction at source model.
Over the last nineteen years, the Group has expanded across Africa from its origins in Botswana. For the year ended December 2016, gross advances reached #660mn resulting in an underlying growth of 14% in local currency terms.
The Group has continued to grow its market share, and maintains good asset quality (non-performing loans are under 3% of the total loan book). Operating income increased at a 3-year compound annual growth rate of 11%, reflecting the underlying growth in customer advances, as well as continued revenue diversification.
Ajewole Microfinance Bank’s strategic intent is to build Africa’s leading inclusive finance group. The strategy delivery centres on four pillars; Embracing financial inclusion; Grow the franchise – invest and diversifying; Enhance the customer experience – deliver simple, appropriate and accessible solutions and; Embed the future capability model.
Ajewole Microfinance Bank provides Personal & Business Loans and Access to Savings & Investment Portfolios at insight competitive interest rates to Empower Small Business Owners.
4, Ilorin Road, Sabo, Ogbomosho Road,
Oyo, Oyo State Nigeria.
About Ajewole MFBank
Personal & SME Loans
Savings & Investments