Accion Microfinance Bank (MfB) marked a memorable milestone yesterday as it celebrated its 20th anniversary with a warm gathering of guests, customers, and staff at the Civic Centre in Lagos. The event highlighted two decades of impact, empowerment, and transformed lives, underscoring the bank's commitment to helping businesses grow and lifting thousands out of poverty.
A Journey of Resilience and Purpose
Welcoming attendees, the Managing Director of Accion Microfinance Bank, Taiwo Joda, reflected on the bank's journey, describing the 20-year milestone as a testament to resilience, sacrifice, tough decisions, and an unwavering belief in a purpose greater than any individual. He noted that the anniversary brought not only pride but also deep gratitude to those who started the journey, those who sustained it, and the many lives touched over the years.
Joda acknowledged that like many institutions in Nigeria, the bank faced difficult moments, including economic shifts, regulatory changes, and internal challenges that could have slowed progress. However, he emphasized that the bank remained steadfast due to its conviction that its work truly matters. "Beyond the numbers, beyond the portfolios and performance reports, there are real people at the centre of our work — people whose businesses have grown, families whose livelihoods have improved, and dreams that have been given a chance. These are the stories we carry with us," he said.
Commitment to Staff and Future Growth
Joda commended the staff for their dedication, integrity, and shared sense of purpose, noting that their commitment and resilience shaped Accion into what it is today. Looking ahead, he stated that the bank would remain focused on preserving its purpose and deepening its impact. "We believe financial services should empower, not exclude; that growth should be inclusive, and that impact should be real, measurable, and meaningful. We are building for the future by expanding our reach, strengthening our systems, deepening our impact, and continuing to find new ways to serve our customers better. Twenty years from now, I want the story of Accion to reflect not just how long we have existed, but how deeply we have mattered," he added.
Board and Shareholder Perspectives
In his keynote address, the Chairman of the Board of Accion Microfinance Bank, Christian Ruehmer, described the journey as 20 years of impressive growth and expressed optimism about the bank's future. He praised Nigerian entrepreneurs for their resilience and dogged spirit, reiterating the bank's commitment to supporting businesses and contributing to national prosperity. "I am very hopeful we will be here for another 20 years and more. I am very hopeful we will deliver impacts that go far beyond what each of us is contributing," he said.
Another board member, Gift Mahubo from Zimbabwe, representing Accion, the bank's largest shareholder, expressed delight at the institution's growth trajectory. Recalling how the journey started with a single branch 20 years ago, he noted that the bank now operates in 14 states with 76 locations nationwide. "There has been a lot of effort, and we have impacted quite a lot of people. When we listen to our customers' testimonies, we see that the bank is receptive and responsive to the needs of the people. As shareholders, we will continue to invest and provide support so we can celebrate another 20 years," he said.
Growth and Customer Impact
The bank's Chief Commercial Officer, Stephen Olalere, highlighted the institution's growth into one of the leading microfinance banks in the country. "We started with a few customers, but today we have millions. We have made many people happy and created a significant impact. We have seen traders move from roadside businesses to larger stalls, train their children through university, and even own houses," he said.
One of the customers, Chief Ekene Udeh, who deals in mattresses, shared his experience of banking with Accion for over 12 years. He expressed happiness at being part of the celebration and wished the bank greater success in the years ahead.
