Tova Africa Launches Microcredit Financial Institution 

Kemi  Olaitan in Ibadan 

A world-class social entrepreneurship organization in the country, Tova Africa, has launched a microcredit financial institution, Tovacredit Limited, to break the yoke of poverty among indigent women and youths. 

The Chief Executive Officer (CEO), Tova Africa, Mr. Tosin Bakare, while speaking with journalists in Ibadan at a pre-launch press conference, said the new financial scheme is out to empower the downtrodden by meeting their microcredit needs through thrift, loan and investment.

According to him, the scheme with Welcome to Prosperity as its slogan, would create a great savings, loan and investment community towards having Family of Millionaires in one of the slums of Ibadan, disclosing that any loan obtained will attract an interest of five per cent. 

While assuring that the company would treat its customers as real human beings, Bakare said the maximum amount that could be borrowed for now is N200,000, stating that this will increase when there are many customers. 

He said, “Tovacredit Limited is an Afrocentric financial institution designed to empower the downtrodden especially indigent women and youths with entrepreneurial/vocational skills by meeting their microcredit needs and providing them with innovative trainings and strategic investment opportunities to enable them thrive and prosper.”