Abia State is set for a major boost in Small and Medium Size Enterprises as WeBank Microfinance Bank (MFB) officially opened its head office at Aba, the commercial nerve-centre of the State on Tuesday.
Speaking at the commissioning ceremony, the Chairman of the bank, Mr. Signor Kanu, explained that Aba was deliberately selected as the head office due to its strong commercial reputation coupled with the fact that he was born and nurtured in the town.
He said they were convinced that situating the bank at the popular Cemetery market would make its unique services close to the traders and business owners, stressing that, “this is a bank that will give everyone the right attention needed from the woman selling bean cakes to the importer.”
“All our products are tailored to meet the needs of every trader”, he emphasised.
According to the Chairman, the new microfinance bank aims to support business owners across Aba and beyond, with a strong focus on empowering small and medium-sized enterprises (SMEs).
In her speech, the Managing Director of the bank, Mrs Nkechi Ajuga said they run different kinds of accounts, ranging from current, savings to term deposits, all geared towards helping the customer build financial stability.
She disclosed that the bank has a rich profile of loan products that would be beneficial to a customers, adding that they offer various forms of loans such as salary SME, Agric, vehicle and housing loans with flexible collateral.
Ajuja revealed that within 48 hours, customers would access loans and pay back within 24 months. “If you are owing your landlord, you can approach us for a loan to offset the debt, and you will pay us back within 24 months”, the Managing Director stated.
The ribbon cutting ceremony, which signified the formal opening of the bank, was performed by the Managing Director/Chief Executive Officer of Vittorio & Emporio Ltd, Engr. Victor Ani.
WeBank MFB, which began operations immediately in its location at 7 Duru Street, Off Eziukwu Market, Aba is expected to open up new opportunities for entrepreneurs, foster financial inclusion, and accelerate economic development across Abia State.
