Strengths

Ekondo has transformed from a Community Bank into a Microfinance Bank and, as such, and is in the process of systems consolidation and operational expansion. EMFB maintains a very good reputation in the market and is recognized as a leading microfinance institution east of the Niger. The territorial expansion process, the commitment of the management and the variety of tailored products are teh main strengths of the bank. Ekondo Microfinance Bank has also achieved excellent results in terms of profitability and sustainability over the years.

Our Ratings

Ekondo continues to be highly rated by the following World Bank approved rating agencies:

Rating Agency: Microfinanza SRL of Italy
Rating:BB

 

COMPETITIVE ADVANTAGES

Compared to other providers and in particular to other MFBs, Ekondo Microfinance Banks market approach is strongly oriented towards two main axis: product diversification and the expansion of its branch network. This approach enables us to provide a variety of financial services at our customers doorsteps.

EMFB already provides a variety of financial services including deposits, loans, payments, money transfer. Concerning loans, clients have a wide choice among term loans, overdrafts, loans to buy shares, loans to buy assets. Ekondo guarantees accessibility through the adoption of different lending models (individual lending, solidarity group lending, wholesale lending, etc).

Furthermore, Ekondo presents the following competitive advantages:

  • Flexible and non-bureaucratic procedures for disbursement
  • Proximity to target market and tailored products
  • Excellent customer service and personalized banking
  • Lower interest rate compared to other MFBs
  • Industry experience and good reputation on the subsector markert

 

MARKET POSITIONING

Ekondo Microfinance Bank is deemed to control over 50% of the microfinance market in Calabar, due to its presence of its branches and cash centers at the major markets of Calabar. Also of the four Local Government Area that make up Calabar (Calabar South, Calabar Municipality, Odukpani and Akpabuyo). At present Ekondo Bank handles salary administration for three of the Local Government Areas councils in our catchment area.