Top Stories
Exposed! N100b road contracts scam rocks Edo
From COLLINS EKE, Benin
AN alleged monumental fraud running into billions of naira allegedly squandered on the Benin City road network, by Governor Oserhiemen Osunbor has sparked off a cold war in Edo State....
'Independence Day is time to bless Nigeria...
Let's celebrate our country’
Being a keynote address by Pastor Chris Oyakhilome, President, Believers Loveworld Inc. (a.k.a Christ Embassy) at the Grand Launch of the 2008 edition of ReachOut Nigeria...
 Presidency starves INEC of funds
By CHUKS EHIRIM, Abuja
THE Independent National Electoral Commission (INEC), still gasping for breath, amid unending attacks from the public, surprisingly, in recent times has been suffering .....
Nigeria at 48: No cause for cheers - AC leader
From CHUKS EHIRIM, Abuja
AS Nigerians take stock of the dividends of 48 years of freedom from colonial rule, while curiously awaiting the mandatory Independence Anniversary...  
MIKANO Generators
By KELECHI DECA
MIKANO Generators is a subsidiary of Mikano International Limited, a company with 27 years experience in the areas of Building/Civil Engineering Construction and Steel...
ReachOut Nigeria campaign reaches climax
By AZUKA MORDI
AT the grand launch of this year's edition of the ReachOut Nigeria with Rhapsody of Realities campaign, President of Believers Loveworld (also known as) Christ Embassy, Pastor Chris....



NEWS

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• Village head, four others quizzed
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• Forum cautions Ijaws on minister for Niger Delta
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• Fayose commends Oni's unity govt plan 
• Shun ostentatious living, Moslems told
• NEMA advises stake-holders on disaster management
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• Anambra PDP Crisis: Ubah hails Gana's committee
• Rivers to get tourism dev. commission
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• 22 German students take courses in Hausa
• Varsity don raises alarm over materialism
• Speak your mother-tongue, Ohakim tells Nigerians

Relating Stories

•Borno Pension Funds Scheme in a mess
 •Intercontinental Bank takes over Heathrow Airport branding
• Intercontinental, Blue in Micro-Finance business
• The Finbank…

Intercontinental, Blue in Micro-Finance business

ALTX listed Blue Financial Services (Blue) officially opened for business in Nigeria, making it a total of twelve countries in Africa where the JSE-listed microfinancier has operations. Blue recently signed a partnership agreement with Intercontinental Bank Plc (ICB). A new company, Blue Intercontinental Micro Finance Bank (BIMFB), has since been formed to market, distribute and sell Blue micro-financing services and products into Nigeria's retail market.

Initial distribution will be through the BIMFB flagship branch at its head office on Lagos mainland and ten BIMFB kiosks set up in selected ICB branches around Lagos State. Blue CEO, Dave van Niekerk, says that the BIMFB venture will enable Blue to tap into the potential of a largely unbanked market and leverage off the progressive reforms in the financial services sector.

Van Niekerk says that the strategy of using ICB branches may seem contrary to present banking trends where the branch is declining in importance as customers are encouraged to use electronic or telephone banking. "Our model is one based on face-to-face interaction with the customer and is more suited to the products we are offering." For this reason stand alone BIMFB branches will be utilised in addition to kiosks in Intercontinental Bank's branches. Products include salary advance loans, personal term loans, retail loans, loans for small business finance and home improvement loans.

Dr. Erastus Akingbola, Group Chief Executive of ICB, says the bank is excited to be partnering with Blue in its Nigerian launch. "We have built up our brand equity over 18 years in the market and are ranked as the second fastest growing bank in the world and the fifth largest in Africa. It was our mutual shareholder,
AIG Capital Partners Incorporated that played an instrumental role in facilitating this new relationship between Blue and ICB. We will be providing Blue with our invaluable local partner expertise as well as a significant footprint in excess of 300 branches across all states."