* In addition to microfinance banks, examines other microfinance institutions in Nigeria such as NGOs and Cooperative societies.
* Analyses the market share of key operators using different indicators.
* Examines prevalent challenges within the Industry
* Tracks key regulations, industry trends and opportunities
* Provides 5 years financial information on the Industry (2014-2018f)
Our Microfinance Industry Report answers questions on:
* The size of the microfinance industry in Nigeria
* The impact of the economic downturn on the microfinance industry
* Geographical distribution of microfinance banks across Nigeria
* Lending methodologies implemented by microfinance banks
* Regulatory policies, recent changes/additions and challenges
* Strengths, weaknesses, opportunities and threats within the Industry
* Outlook for the microfinance industry in the near term
Overview of the Report
Agusto & Co.’s Nigerian Microfinance Industry Report is the most comprehensive and up to date report on the microfinance industry in Nigeria, providing an in-depth review of the Industry’s operations and how the macroeconomic climate impacts the growth and development of microfinance activities. Our report analyzes the Industry’s competitive landscape, regulatory environment, key trends and financial performance.
Although not as prominent as commercial banking in Nigeria, microfinance is still viewed as a primary vehicle for providing financial assistance to the disadvantaged segments of the country’s populace including micro, small and medium sized enterprises (MSMEs). Between 2015 and 2016, the CBN licensed 31 new microfinance banks, bring the total number of MFBs in operation to 978 as at FYE 2016. Despite the high number of operators, microfinance activities remain concentrated in Southern Nigeria, with an estimated 70% of all licensed microfinance banks. Furthermore, growth and development of the Industry remains constrained by the dominance of unit MFBs which comprise 89% of all operators. In comparison, there are only eight national MFBs in operation.
Our report examines the Industry’s performance with particular focus on the asset quality, capitalization, liquidity and profitability of key operators. Our assessment of the Industry’s financial condition is based on figures and information published in the approved financial statements of selected microfinance banks. These banks collectively accounted for about 44% of the Industry’s total loans & advances portfolio as at 31 December 2016.