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Umuchinemere Procredit

Microfinance Bank Nigeria Limited

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UP-MFB goes on business mission to ESEC

Driven by the urge for more business for the bank and greater service to humanity, especially in the area of poverty eradication in the society, a strong delegation of Umuchinemere Pro-credit MicroFinance Bank (UP-MFB) Limited, led by the bank's chairman, Msgr. Prof. Obiora Ike, took a business trip to the Enugu State Economic Commission on April 30,2009.

Also on the business mission with the bank was a combined team of senior officials of the Catholic Institute for Development, Justice and Peace Caritas (CIDJAP) and women group.

Prof. Ike told the Executive Secretary of the Commission, Mr. Dan Onyishi, that the visit was aimed at ensuring that Enugu State established a micro credit fund which UP-MFB Ltd and the other two organizations were in firm and best position to manage and render the desired micro credit service to the people and recover the loan to revolve expectedly to others.

The prelate said the bank had the experience, creditability, pedigree and high capacity to manage such fund for government successfully, given the antecedent or background of the bank, CIDJAP Caritas and GWEDE in the management of such programme.

He said: "What is the concern of Umuchinemere Pro-Credit MicroFinance Bank is to ensure that the Micro credit fund the Government will come out with does not come and get lost like many things government does, and even did in the past".

The bank chairman insisted that the micro credit fund must be domiciled in a Micro Finance Bank like UP-MFB because it is incongruous for commercial Banks.In his response, Mr. Onyishi told the delegation that the National Economic Council meeting has already expressed the need for state governments to establish micro credit schemes and that Enugu State had already started the process of floating its own micro credit programme in response to the need.

He said the bank's visit to the commission was timely because the state ministry of Commerce and Industry was already collating proposals from banks that would help government manage the micro credit scheme.

Mr. Onyishi expressed optimism that based on his previous relationship and experience with CIDJAP Caritas there was no doubt that the bank (UP-MFB) and the institute have the capability and credibility to manage the micro credit fund satisfactorily.

In the bank's delegation with the chairman were the Managing Director, Mrs. Nnenna Maria Ekete; the Head of Business Development and Finance, Mr. Odinaka Okeke, and the Public Relations/Media Affairs Officer, Sir. Abuchi Anueyiagu.

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