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Rayyan Microfinance Bank has launched N2 billion empowerment projects to support micro, small, and medium businesses in Borno State. The initiative aims to improve access to finance and strengthen local business growth.
Supporting Small Businesses
Speaking at the bank’s official opening in Maiduguri, Managing Director Abubakar Musa said the bank focuses on helping entrepreneurs access funding. According to him, the projects target sectors that can create jobs and drive economic activity.
Non Interest Banking and Digital Access
Musa explained that Rayyan Microfinance Bank operates as an indigenous non interest financial institution. While the bank maintains a physical office in Borno State, it also provides digital services across Nigeria.
As a result, customers can use the mobile app, internet banking, and USSD services to carry out transactions easily.
Key Empowerment Areas
The N2 billion projects focus on women empowerment, energy solutions, and small business development. These areas play a key role in improving income and supporting economic stability.
Meanwhile, Musa said the launch event formally introduced the bank to the public. He added that the bank had already been operating before the official opening.
Expanding Financial Inclusion
Overall, the empowerment projects aim to expand financial inclusion and support business growth in Borno State. Therefore, Rayyan Microfinance Bank said it will continue to provide accessible financial services that meet the needs of local businesses.
