Bauchi Micro Finance Agency Showcases Success Story of it’s Revolving Loan Program at  National Summit

By Bashir Hassan

Bauchi State Agency for Sustainable Microfinance has reiterated its commitment to accord priority to vulnerable target groups under the Agency’s Microfinance Institutions Building for Poverty Reduction (MIFIN) Program.

Towards this end,  the Director General (DG) of the Agency says that Governor Bala Mohammed of Bauchi state has  since approved the implementation of Microcredit revolving scheme to enable every poor and vulnerable citizen access to credit to start up a business. He says that the Agency  has successfully empowered several community Associations and Cooperative Societies with small revolving loans for petty trading and other enterprises.

The DG of the Agency Muhammad Nura Danmadami disclosed this in Abuja at a National Summit on Gender and Social Inclusion (GESI), organised by Policy Innovation Centre (PIC), NESG and CARE International.

Alhaji Danmadami, who was part of the panel of discussants during the summit, said that the bulk of beneficiaries of the Agency’s MIFIN program are women which include People with Disabilities (PWDs) and other vulnerable target groups across the 20 Local Government Areas of the State.

The DG said that so far the Agency has given out loans to empower the poor and vulnerable to the tune of over 10 Million Naira as revolving loan.

He said that GESI mainstreaming in the MIFIN program is the major criteria for accessing loans from the Agency by the microfinance institutions for onward disbursement to beneficiaries.

The Danmadami of Katagum further informed participants at the National Summit that Bauchi State  has already made significant progress in GESI as Governor Bala Mohammed continues to provide support to women and vulnerable as part of a wider economic development and financial inclusion strategy of his administration.

He disclosed that so far, thousands of women are being  empowered from the revolving loan and that  outcome of the MIFIN program can be seen in the repayment ability of original borrowers which is enabling other vulnerable women to access the loans too.

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