Bauchi Microfinance Agency Partners Oxfam on Group Based Financing

Segun Awofadeji

To further upscale rural cooperative financing aimed at reducing poverty among citizens of Bauchi State, the State Agency for Sustainable Microfinance has partnered Oxfam Nigeria for technical support towards sound implementation of the Agency’s program tagged “Microfinance Institution Building Program for Poverty Reduction (MIFIN)”.  

Speaking shortly before the signing of the MoU yesterday, the Director General of the State Microfinance Agency, Nura Muhammad Dan’madami said that MIFIN program is aimed at strengthening the capacity of microfinance institutions and member based groups with a view to establishing linkages for a viable and sustainable microfinance system. 

“The program will be implemented in the 323 wards spread across the 20 Local Government Areas, with an estimated 807,500 poorest of the poor and vulnerable groups that includes: women, youth and persons living with disability. 

“With Oxfam’s years of experience in the Livelihoods and Nutritional Empowerment (LINE) Project, Rural Finance and Social Inclusion, the Agency deem it appropriate for such partnership, “he said. 

Also speaking, Oxfam Nigeria Country Director Dr. Vincent Ahonsi said that Oxfam is working with many national and local partners including Ministries, Departments and Agencies in Bauchi State towards improving the livelihood, and nutrition of rural communities across the state.

Represented by Oxfam official, Samuel Lashom, Dr. Ahonsi said that despite the enormous agricultural potentials in Bauchi State, inadequate mechanized agricultural equipment and tools, poor access to financial services including subsidized and inclusive loan facilities, constitute constraints in fighting poverty, unemployment, and poor agricultural yields in the state.