Accion MfB Unveils Digital Platform For MSMEs

One of Nigeria’s leading microfinance institutions, Accion Microfinance Bank (MfB) has unveiled AccionMonie, a transformative digital financial services platform designed to enhance financial inclusion and support the growth of micro, small, and medium enterprises (MSMEs) in the country.

The launch marked a significant step in the bank’s ongoing mission to deepen access to finance for underserved communities, low-income households and small businesses.

AccionMonie is positioned as a user-friendly digital app that offers instant access to essential banking services, including savings, loans and capital support.

At the launch, the chief executive officer of Accion MfB, Taiwo Joda, described AccionMonie as a “milestone innovation” aligned with the bank’s long-standing commitment to business development and customer empowerment.

“At Accion Microfinance Bank, we believe in the potential of every MSME to drive inclusive economic growth. That is why we are committed to empowering them with the financial support they need to grow, innovate, and make a lasting impact,” Joda said.

MSMEs account for about 86% of employment and nearly half of Nigeria’s GDP, yet many still struggle with access to capital and reliable banking services.

Accion aims to close this gap by combining its extensive network of over 74 branches in 12 states with the robust digital capabilities of AccionMonie.

The new platform introduces innovative features such as Save2Loan, which allows users to save between N50,000 and N250,000 over 90 days and qualify for a loan worth twice their savings. Other tools include targeted and locked savings plans for long-term goals like rent, school fees, or investments — all while earning competitive interest rates.

The chief digital officer, Paul Ehiagbonare, emphasised the bank’s digital transformation vision, saying: “AccionMonie represents our bold leap into digital leadership and customer empowerment. We are not just providing access to finance; we are standing by our customers as reliable partners through their journey toward stability and long-term success.”

The chief commercial officer, Stephen Olalere, said the app and accompanying campaign – Always There to Lend You a Hand – reflect Accion MfB’s evolving customer-focused strategy.