FEMAZ Microfinance Bank Limited Abuja, is one of the leading and fast growing full-fledged Microfinance Banks, licensed by the Apex Bank (CBN) to provide financial services to micro, small and medium scale enterprises (MSME) and empower individuals in the low bottom of the pyramid that are excluded from financial services in Nigeria.
FEMAZ Microfinance Bank Limited evolved from an active financial cooperative (FEMAZ Financial Cooperative Ltd.), over the last 3 years with a national license as a cooperative to operate in the 36 states of the federation. The bank has over 8 locations/cash centers in the FCT covering the six area councils; AMAC, Gwagwalada, Kuje, Bwari and Kwali and other parts of country which includes Lagos, Asaba, Owerri, Calabar, Onitsha, Enugu and Uyo which has enabled Femaz MFB to deliver micro finance services to residents of these locations.
Their credit process has a turnaround time of 5 working days from application to disbursement with an effective monitoring and supervision of credits to ensure zero default.
They employ e-channels platform such as fund transfer, ATM cards, Auto-pay and use of POS for collections to create conveniences among our customers.
Their Microcredit product is designed to create quick access to loan among women using the group lending approach where groups are form through self-selection between 5-10 members per group and cross-guarantee one another to ensure zero default on loan repayment.
Femaz Microfinance Bank Limited constitute an active Board and Management staff made up of professionals with deep experience in a diverse range of sectors Majorly banking and entrepreneurship.
Since the inception of their license to operate as a Microfinance Bank, Femaz has partnered with different stakeholders and relevant agencies to promote entrepreneurship in Nigeria, among these strategic partners includes, Nigeria Market Development for the Niger Delta Programme (MADE), Development Finance Department of Central Bank of Nigeria (CBN), National Programme for Food Security (NPFS) etc.
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