The Lagos State Chapter of the National Association of Microfinance Banks (NAMB), a trade group of microfinance banks (MFBs) in Nigeria, has announced that it plans to undertake a micro-housing project for “low-income earners” in Lagos state [1]. The association aims to build 500 houses financed such that the beneficiaries will have to make monthly repayments of up to NGN 12,500 (USD 78) over a period of 20 years. Projected dates for the project have not yet been released.
As of April 2011, NAMB had 820 members. Its Lagos State Chapter has 180 members as of December 2011.
By Nisha Koul, Research Associate
About National Association of Microfinance Banks (NAMB): The National Association of Microfinance Banks of Nigeria (NAMB) is a trade group of microfinance banks (MFBs) that merged with the Association of Microfinance Banks in Nigeria (AMBN) in 2009. As of April 2011, NAMB has 820 member MFIs. Its Lagos State Chapter has 180 members as of December 2011.
Sources and Additional Resources:
[1] Vanguard, “Microfinance banks to construct 500 houses,” http://www.vanguardngr.com/2011/12/microfinance-banks-to-construct-500-houses/
MicroCapital.org story, January 9, 2012, “MICROCAPITAL BRIEF: Nigeria’s National Association of Microfinance Banks (NAMB) Asks Government Not to Set Up Microlenders,” https://www.microcapital.org/microcapital-brief-nigerias-national-association-of-microfinance-banks-namb-asks-government-not-to-set-up-microlenders/
MicroCapital.org story, September 1, 2011, “MICROCAPITAL BRIEF: Nigeria’s National Association of Microfinance Banks (NAMB) Establishes Trust Fund to Provide Funds to Member Microfinance Banks (MFBs),” https://www.microcapital.org/microcapital-brief-nigeria%E2%80%99s-national-association-of-microfinance-banks-namb-establishes-trust-fund-to-provide-funds-to-member-microfinance-banks-mfbs/
July 16, 2011, “MICROCAPITAL BRIEF: Habitat for Humanity Receives $45m Loan from Overseas Private Investment Corporation (OPIC), to Be On-Lent to Microfinance Institutions Through Housing Finance Programs,” https://www.microcapital.org/microcapital-brief-habitat-for-humanity-receives-45m-loan-from-overseas-private-investment-corporation-opic-to-be-on-lent-to-microfinance-institutions-through-housing-finance-programs/
MicroCapital Universe Profile: National Association of Microfinance Banks (NAMB), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=National+Association+of+Microfinance+Banks+of+Nigeria+%28NAMB%29
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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