individuals through accessible financial solutions, has announced its ambitious growth plans.

At a high-profile press conference in Lagos, the bank revealed its intent to raise fresh capital by April 2025 and significantly expand its branch network from the current 38 to at least 100 branches within the next five years. This strategic move is aimed at strengthening its presence across Nigeria and advancing financial inclusion, particularly in underserved regions.

The event, held at Radisson Blu Anchorage, gathered key stakeholders, including the bank’s Board of Directors, representatives from the Baobab Group, international partners, industry leaders, and regulatory bodies. It provided a platform to discuss financial inclusion strategies and sustainable growth solutions for Nigeria’s small and medium-sized enterprises (SMEs).

A Strong Track Record in Financial Empowerment

Since its inception, Baobab Nigeria has disbursed close to ₦500 billion in loans to micro, small, and medium-sized businesses. With nearly 300,000 clients served and close to half a million loans issued, the bank continues to play a crucial role in fostering financial inclusion and business expansion across the country.

Baobab’s mission is deeply rooted in providing accessible financial services to underserved African communities. Speaking at the event, Philip Sigwart, Group CEO of Baobab Group, reaffirmed the company’s unwavering commitment to supporting micro and small businesses through tailored financial solutions.

“At Baobab, we recognize that small businesses are the backbone of the Nigerian economy. We are committed to building a sustainable and inclusive financial ecosystem that empowers entrepreneurs,” Sigwart said. “By continuously innovating and expanding our services, we reinforce our mission to provide accessible financial solutions that drive growth and economic development in Nigeria and across Africa.”

https://independent.ng/baobab-nigeria-to-inject-fresh-capital-targets-100-branches-by-2030/