SME-focused bank, First City Monument Bank (FCMB) and fintech company, Jamborow have announced a partnership to empower thousands of Nigerians living in rural areas.
The aim of the partnership is to drive financial inclusion and enable the onboarding of underbanked and unbanked people living in rural communities on the Jamborow platform while providing them with access to financial services, including loans, offered by FCMB.
Speaking on the partnership, The Co-Founder and CEO of Jamborow, Mr Olusegun George said: “Strategic partnerships like these will continue to bolster and fortify our efforts to alleviate poverty and improve the lives of citizens across the developing world by providing an accessible ecosystem to promote economic and financial inclusion. FCMB, a leading institution in the SME and MSME segment, will add instant value to our mission by providing first-class financial services to our clientele across several verticals to boost trade and growth with our technology.”
The Managing Director of FCMB, Mrs Yemisi Edun, added: “This intervention promotes inclusiveness and would allow disadvantaged people and communities to enjoy financial services and improve their lives through enhanced economic activities. At FCMB, we will continue to champion and execute initiatives that enrich lives in our local communities by creating opportunities that empower individuals and businesses to become their very best.
“By integrating the Jamborow platform with that of FCMB, more people at the grassroots will have access to formal financial services without hassles. For instance, the Jamborow platform creates financial and credit profiles for the underbanked and unbanked making it easier to obtain loans, grants, and other benefits. This will create expanded opportunities, boost rural economies, raise household incomes, provide job security, reduce poverty, strengthen community bonds, promote economic growth and reduce rural-urban migration.”
Jamborow is a Financial Technology platform that provides solutions to enable access to financial services for informal, unbanked and underbanked sectors across Africa in order to promote economic and financial inclusion. According to the platform, it is focused on creating a credit footprint for financial inclusion at the grassroots of Africa which promotes community development and empowerment, builds capacity and develops social capital.