Stakeholders Harp On MfB Sustainable Finance to Drive Growth

Kayode Tokede

As the world increasingly recognizes the need to transit to a more sustainable economy, stakeholders in the Microfinance Bank (MfB) are championing the sector’s sustainable finance targeted at driving growth and raising capital.

The 2023 theme was, “Sustainable Finance: the next big thing for Microfinance Institutions in Nigeria.”

The Chief Operating Officer MLDC & Coordinator, Nigeria Microfinance Platform (NMP), Mr. Adetunji Afolabi in its opening remarks at 8th Annual Symposium in Lagos recently explained that sustainable finance is a new approach to investing that considers the environmental and social impact of investments.

He noted that the 2023 theme is timely, as the world increasingly recognizes the need to transition to a more sustainable economy.

According to him, sustainable finance seeks to generate financial returns while also having a positive impact on the environment and society,stressing that it can be a powerful tool for microfinance institutions as it can help them to raise capital, reduce their costs, and improve their impact.

“This symposium is an important opportunity for us to come together and share our knowledge and expertise on Sustainable Finance. We are facing a number of challenges in this area, and I believe that by working together as stakeholders in the inclusive finance sector of the economy, we can make progress towards finding solutions, “he said.