AltBank just dropped a new branch in Effurun over in Delta State, and Chukwuemeka Agada from the south division said the move helps them lock down the Edo-Delta corridor for non-interest banking. The launch pulled traditional rulers like Emmanuel Ekemejewa Sideso Abe I and local government reps, and Chief Samuel Eshenake told the bank to actually create jobs instead of just setting up shop.
Regional head Akanni Owolabi mentioned the branch should pump up local business growth through their Islamic finance model, which runs on asset-backed deals and risk-sharing instead of regular interest. Traders, small businesses, and young professionals around Warri can access the services, and the whole thing seems aimed at the massive informal economy that dominates the area.
Regional head Akanni Owolabi mentioned the branch should pump up local business growth through their Islamic finance model, which runs on asset-backed deals and risk-sharing instead of regular interest. Traders, small businesses, and young professionals around Warri can access the services, and the whole thing seems aimed at the massive informal economy that dominates the area.
