How a banker’s childhood memory built a ₦1.5 billion microfinance success
- NEAT Microfinance Bank serves 25,000 borrowers across four states in Nigeria, focusing on those excluded from traditional banking.
- The Omoniyis founded NEAT to provide structured microfinance solutions based on the traditional Ajo savings model.
- NEAT has a non-performing loan rate of under 5%, showcasing effective risk management.
NEAT's innovative approach to microfinance highlights the potential of community-driven financial solutions in addressing the needs of underserved populations. By prioritizing relationships and sustainable practices over purely profit-driven motives, NEAT sets a precedent for how financial services can be reimagined in developing economies. This model could inspire similar initiatives in other regions facing financial exclusion.
