Social Issue

Nigeria has a very young population, among which there is great economic inequality. Initiatives that can generate employment and equality are essential, especially in a difficult macroeconomic environment.

Our Response

Microloans are a powerful tool to promote self-employment.

LAPO started its activity in 1991 as a replica of the Grameen Bank, and currently has 62 offices. It is an entity committed to low-income microentrepreneur women (98% of its clients are women). LAPO’s client selection criteria is based on an indicator of poverty. The potential clientele that does not comply with said indicator is rejected.

Most of the credits go to small businesses and subsistence agriculture.

In addition to financial services, LAPO clients receive a wide variety of training (three courses for each loan received). This training covers a wide thematic range: from basic aspects related to health to others such as the exercise of the rights, duties, and freedoms typical of a democracy.

Expected Social Impact

With this investment of the Netri Foundation, LAPO has been able to receive a loan from a larger local bank. It is estimated that LAPO will be able to grant 20,032 microloans to people who live, mostly, in rural areas so that they can maintain their businesses and the poverty caused by the lack of economic opportunities is reduced.