AfriGO Empowers Microfinance Banks to Accelerate Financial Inclusion

Nume Ekeghe Afrigopay Financial Services Limited, the custodians of Nigeria’s sovereign national payment card scheme, have called for increased collaboration and innovation within the microfinance sector. This call for change came during the 16th Annual General Meeting of the National Association of Microfinance Banks (NAMB), held in Abuja under the theme “Beyond 20 Years: Engineering Sustainable Microfinance for the Next Generation.”

The meeting convened industry players, including microfinance banks, regulators, and payment ecosystem stakeholders, to discuss ways to foster a more sustainable and inclusive microfinance industry.

Chief Commercial Officer and Executive Director at Afrigopay Financial Services Limited, Ugo Obasi, addressed the attendees at the event, highlighting the AfriGO card's design to enhance financial inclusion. He explained that AfriGO provides a straightforward, highly secure, and locally developed entry point for Nigeria's underserved and unbanked citizens into the formal payment system.

Obasi argued that microfinance banks stand to benefit significantly from adopting the national card scheme, citing substantial operational and transaction cost savings compared to alternative card systems. He stressed that AfriGO tackles the long-standing inclusion challenges faced by smaller financial institutions by providing comprehensive support.

Dr. Adenrele Oni, the National President of NAMB, acknowledged AfriGO’s dedication to strengthening the microfinance sector. He emphasized that fostering collaboration around secure payment infrastructure is vital to achieving sustainable growth across the industry.