Obadero: Interest Rate Cut Will Drive Economic Activities
The Chief Executive Officer, Zitra Investments, Mr. Babatunde Obadero in this interview with Kayode Tokede hinted that the Central Bank of Nigeria interest rate cut is expected to drive economic
Zitra Investments CEO Babatunde Obadero stated that the Central Bank of Nigeria's recent interest rate cut is anticipated to stimulate economic activities. The company, celebrating its sixth anniversary, discussed its plans to list on the Nigerian Exchange Limited and expand its operations. Obadero highlighted that high interest rates have been the biggest obstacle to credit access in Nigeria, and the interest rate reduction is expected to lead to lower financing rates, ultimately boosting borrowing and economic activity.
Over the past two years, Zitra Investments has disbursed loans worth over N30 billion to small and medium enterprises (SMEs), with more than 65% of its customers being women. The company aims to triple its loan disbursement over the next two years, reaching N30 billion in additional lending. Zitra Investments' asset management arm, Zitra Fund Managers, has also grown, seeking to manage funds for large corporates, institutional investors, and the public sector while promoting financial inclusion among retail customers and small businesses.
The CEO attributed the company's success to resilience, grit, and innovation, emphasizing that it is crucial for businesses in Nigeria to survive and thrive.
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