Microcred rebrands as Baobab Microfinance Bank

Microcred, a Kaduna-based digital financial inclusion group, has unveiled to the Nigerian market its new group-wide brand, ‘Baobab’.

The Nigeria’s affiliate of the group, which is operating across Africa and in China, said it has disbursed N32 billion loans to 112 clients and has 10 branches in Lagos since inception in 2010

Founded in 2005 as Microcred, today Baobab has 3,800 employees operating in Madagascar, Senegal, Nigeria, Ivory Coast, Mali, Tunisia, Zimbabwe, Burkina Faso, Democratic Republic of Congo and China

Announcing this rebranding in Lagos, Chief Executive Officer of the group’s Nigerian affiliate, Kazeem Olanrewaju, gave the new name as ‘Baobab Microfinance Bank Nigeria.’

The bank, according to him, serves more than 65,000 customers and has dedicated staff who pride on integrity, and committed to deliver value for the sustainable benefit of customers, their families and their businesses using technology.

“We are targeting to become the first digital microfinance bank in Nigeria. Baobab focuses on serving individuals, micro- and small businesses in Africa and China,” Olanrewaju stated.

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