Berachah Microfinance Bank hereafter known as ‘Berachah’, ‘BMFB’ or ‘the bank’ was established by Pastor Charles Kpandei and Mr. Kola Fashola with seventeen other shareholders in 2007. The promoters of the bank have a vision that Berachah Microfinance Bank will be a place of blessing. The promoters were driven by the belief that everyone can see the sun no matter how tall or short, hence its symbol – the sun
The bank is located in Ikosi Ketu in Kosofe Local Government Area of Lagos state.
MISSION / VISION
The conventional financial institutions have not served the grassroots entrepreneurs who form about 65% of the economically active population. The main Mission/Vision of the promoters are, therefore:
- To develop an institution that would be able to empower people through poverty alleviation, employment creation, and capability building.
- To make financial services accessible to a larger segment of the potentially productive Nigerians which otherwise would have little or no access to financial services.
- To contribute positively to rural transformation.
- To eliminate gender disparity by improving Women’s access to financial services.
