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Chanelle MFB Supporting Young and Growing Businesses


Chanelle Microfinance Bank has in the last few years of operation supported young and growing businesses in the areas of funding, compliance, business planning, budgeting and growth target.

With this growth strategy premised on supporting businesses, Chanelle MFB launched a monthly SME Meet-Up Workshop to cater for the predominant needs of entrepreneurs โ€“ small & medium scale enterprises, through areas of needs that affects their businesses.

Jennifer Seidu speaking during SME Meet-Up February edition held in Lagos, Head, Corporate Service, Chanelle MFB, said entrepreneurs are faced with different operational issues because they lack proper problem-solving strategy. She emphasized that having a framework they can be used to address each problem that comes up, would most likely help to handle the problem quickly and also reduce the likelihood of recurrence.

Folakemi Duduyemi, head of SME Advisory, Chanelle MFB also speaking during the event told participants how funding their business is one of the first and most important financial choices they would need to make to structure and run their business. It cost money to start a business and we all need a financial partner in progress and wealth creation.

Following this strategy, Rex Ojiabo, Head, Retail Banking Chanelle MFB said that we hope to grow our customer base by relentlessly positioning as the bank of the masses with some of the products and services we offer.

Our products includes Chanelle Ruby Account, Chanelle Business Loan, Chanelle Eazy Loan, Chanelle Target Savings and Young Stars Account.

Our goal ultimately is to bridge the lag between young and growing businesses and thrive constantly to find better ways of driving their businesses forward.

Chanelle MFB for the masses is said to be the future of banking and this inclusivity is for all classes of young and growing businesses regardless of age, gender, location and business type.

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