The Chairman, DavoDani Microfinance Bank, Prince Austine EnajemoIsire, has bemoaned the challenges of loan defaults and distrust among customers who transact business with micro finance banks in the country.

Lamenting the development when he received a delegation led by the Founder and President, Kosofe Chamber of Commerce and Industry (KCCI), Mr. Joe Femi-Dagunro, in his office to celebrate the bank’s 10th year anniversary, he, however, said despite these challenges, DavoDani MFB remained committed to its mission of providing financial services to the underserved and promoting economic growth and development in the region.

Prince Enajemo-Isire told the delegation that “we have implemented a robust risk management framework and strength ened our credit assessment processes.

We are also exploring innovative solutions, such as mobile banking and digital payment systems, to improve our services and reduce the risk of default. “On the issue of trust, we recognise that it is a critical component of our business.

We are committed to transparency and accountability in all our dealings, and we are working to build strong relationships with our customers and stakeholders.”

This visit highlights the strong partnership between KCCI and Davodani MFB, as they work together to promote economic growth and development in the region.

The anniversary celebration marks a significant milestone for Davodani MFB, demonstrating their commitment to providing financial services to marginalised communities, according to the Chairman of the bank, Prince Austine Enajemo-Isire who welcome the KCCI delegation to their headquarters.