Since its founding in December 2006, the non-governmental organisation Grooming Centre has built up a considerable client base through its network of branches. The institution’s main product is a microcredit loan. This is an individual loan which is disbursed to a group of 20-30 members, all women with a running business. Through its funding Triodos Sustainable Finance Foundation is playing a valuable role in enabling Grooming Centre to emerge as one of the major microfinance players in Nigeria.
KEY INDICATORS as of 31 December 2014:
- number of loan clients: 426,973
- percentage female clients: 100%
- percentage rural clients: 50%
- average loan amount: EUR 164
- number of savings clients: 432,370
Whoever you are, and wherever you live in the world, you are likely to want permanent access to financial services. Microfinance banks play a crucial role providing access to finance to an increasing number of people living on low-incomes. We finance microfinance institutions because they help to build inclusive financial sectors, where the majority of people have access to financial services, leading to a sustainable basis for balanced social and economic development.