{"id":472728,"date":"2021-07-08T14:55:51","date_gmt":"2021-07-08T14:55:51","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=472728"},"modified":"2021-07-08T14:55:51","modified_gmt":"2021-07-08T14:55:51","slug":"nigeria-first-city-monument-bank-at-the-bedside-of-female-entrepreneurship","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/07\/08\/nigeria-first-city-monument-bank-at-the-bedside-of-female-entrepreneurship\/","title":{"rendered":"Nigeria: First City Monument Bank at the bedside of female entrepreneurship"},"content":{"rendered":"
<\/div>

Nigeria: First City Monument Bank at the bedside of female entrepreneurship<\/p>\n

The Board of Directors of the African Development Bank (AfDB) has approved a $ 50 million loan to the First City Monument Bank (FCMB). This amount is intended for local businesses and women-empowered businesses in the agribusiness, manufacturing, health and renewable energy sectors.<\/p>\n

\u201cThe AfDB is pleased to support FCMB’s strategy to become a dominant player to meet the financing needs of local businesses. This project will extend valuable resources to critical but underserved segments during the ongoing Covid-19 pandemic, with its negative macroeconomic impacts, \u201dsaid Stefan Nalletamby, AfDB Director of Financial Sector Development.<\/p>\n

In addition, the Pan-African Bank will provide a technical assistance grant of $ 200,000 through its Positive Financing Action for Women in Africa (AFAWA) initiative supported by the Women\u2019s Entrepreneurship Financing Initiative.<\/p>\n

The grant is expected to complement the loan by enabling FCMB to provide non-financial services, including training, and strengthen its monitoring and reporting functions.<\/p>\n

FCMB is a Nigerian commercial bank with approximately 5 million customers. Its total assets were around $ 5 billion at the end of 2020.<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

Nigeria: First City Monument Bank at the bedside of female entrepreneurship The Board of Directors of the African Development Bank (AfDB) has approved a $ 50 million loan to the First City Monument Bank (FCMB). This amount is intended for local businesses and women-empowered businesses in the agribusiness, manufacturing, health and renewable energy sectors. \u201cThe<\/p>\n","protected":false},"author":536282,"featured_media":472729,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[16158,12000,11996],"tags":[17556,19375,38,18611],"class_list":{"0":"post-472728","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-bank","8":"category-banks-insurance","9":"category-finance-en","10":"tag-female-entrepreneurship","11":"tag-first-city-monument-bank","12":"tag-nigeria","13":"tag-the-bedside","14":"post_format-post-format-aside","15":"pmpro-has-access"},"yoast_head":"\nNigeria: First City Monument Bank at the bedside of female entrepreneurship - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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