Access to financial services is a critical factor in the transition in and out of poverty—and while we have made significant progress in driving financial inclusion around the world, two billion remain unbanked globally. In Nigeria, 4 out of every 10 adult Nigerians are financially excluded—and there is still much work to be done to reach the national goal of financially serving 80% of Nigerians by 2020.
Yesterday, Lagos Business School launched a new research project titled “Sustainable business models for delivering digital financial services to lower income unbanked citizens of Nigeria.” In conjunction with the Bill and Melinda Gates Foundation, the project seeks to better understand the delivery and access constraints, and the barriers to developing viable business models that will drive financial inclusion for all Nigerians.
To kick-off the project, an inaugural interactive session on Building and Sustaining Shared Distribution Networks was held, with relevant stakeholders from various industries. This session was followed by a Media Briefing session where the Dean, LBS, Dr Enase Okonedo; the Academic Director, LBS, Dr Olayinka David-West (who is the project lead) and the Deputy Director, Financial Services for the Poor Program, Bill and Melinda Gates Foundation, Kosta Peric, officially announced the project and responded to questions from members of the Press.
LBS remains committed to creating and transmitting knowledge that positively impacts our community.