Richway MFB Emerges 2020 Best-in-Class Microfinance Bank

December 28, 2020
Richway Microfinance Bank

By Adedapo Adesanya

Richway Microfinance Bank, one of Nigeria’s leading microfinance banks, has emerged as the 2020 Overall Best-in-class Microfinance Bank in Nigeria at the Developments in Africa Merit Awards held recently in Lagos.

It was disclosed that the bank emerged the overall winner ahead of several other reputable small lenders in the country.

The bank was adjudged based on its commitment to supporting small and medium scale enterprises, strong digital banking structure, excellent corporate governance, robust risk management framework and diverse financial products for entrepreneurs across Nigeria.

The award, according to the organisers, is in recognition of Richway Microfinance Bank’s leadership role in the microfinance sector in expanding access to funds for the support of the SME industry in Nigeria.

They further noted that Richway MFB’s remarkable performance has brought unprecedented growth to the sector and by extension, the nation’s economy and that of Africa.

While receiving the award on behalf of the bank, the Managing Director, Mr Adenrele Oni, acknowledged the support of the board, management, staff, friends and partners from inception to date.

He strongly mentioned that the award was a seal of the passion and commitment of Richway dedicated staff and a symbol of the loyalty of the clients.

This was the third award won by the bank in 2020 despite the global challenges faced in the year.

In November 2020, the Managing Director of the bank, Mr Adenrele Oni won the “Best Microfinance Bank CEO Award of the Year 2020” at Africa’s Banking Award and in August 2020, the bank won the “Most Innovative Microfinance Bank of the Year 2020” at the African Brands Leadership Merit Award.

The bank has consistently won the Best Microfinance Bank of the Year from 2018 to date.

In August 2019, the bank also won the “Most Trusted Microfinance Bank in Nigeria award for the Year 2019” in the African Brand Leadership Merit Awards.

And in November 2019, the bank won the “SME Microfinance Bank of the year 2019” at the Nigeria Entrepreneur Merit Awards.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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