OUR PHILOSOPHY OUR VISION OUR MISSION CORE VALUES ...hasalmfb.us.tempcloudsite.com ›...

OUR PHILOSOPHYOur corporate philosophy is preserved in the commonality

of purpose of all stakeholders of HASAL and is best expressed in our vision and mission statements with evident manifestation in

a set of core values. Our business success has been built on these values.

To build a unique microfinance services organization focused at providing creative solutions to the business problems of Micro,

Small and Medium Enterprises

OUR VISION

To provide micro finance services in a professionally unique manner and so create wealth for our customers,

employees & shareholders.

OUR MISSION

* Professionalism* Team work* Passion for service* Learning, * Ethics &* Reliability

CORE VALUES

CORPORATE CULTUREHASAL maintains a professional culture that complies with

its corporate image as a Financial Services Institution. Our cultural theme is that of professionalism in all business

decisions and engagements with third parties.

1 Microfinance Searchlight Magazine | Special Edition

ABOUT HASALHASAL is a state licensed Microfinance Bank based in the Federal

Capital Territory Abuja, providing financial services to Micro, Small and Medium Enterprises (MSMEs), civil servants as well as households.

The bank has continuously provided sustainable microfinance services within the last 10 years.

Editorial HASAL HASAL MICROFINANCE BANK LIMITED: 10 Years of Supporting MSME Growth & Financial Inclusion

hese words are surely true since 2010. The magazine prints “the swift do not always win 1000 copies for each edition and the race, nor do the mighty this is distributed free of charge to T

win the battle ... nor do those with stakeholders of microfinance. k n o w l e d g e a l w a y s h a v e This inc ludes Regulators, success...” (Eccl 9:11). Our M i c r o f i n a n c e B a n k s , sustainabi l i ty, growth and Development partners and State successes as a bank are not by g o v e r n o r s i n v o l v e d i n our physical strength or extreme Microfinance activities. This knowledge, but due to our model has driven its acceptance reliance on God Almighty and in and wide readership. Our our resolve to do things the right distribution network spans across w a y. 1 0 y e a r s i n t o t h e the six geopolitical zones in microfinance space and we have N i g e r i a a s w e l l a s k e y seen the truthfulness of the in Africa. The words “slow and steady”. theme for this special edition is:

Yes, we have been calculative, we decided to avoid the fast lane, we insisted on consistency and we have pummeled ourselves to be disciplined in our resolve. This special edition features the Today, we celebrate 10 years of bank's strides over the last 10 sus ta inab le m ic ro f inance years towards a sustainable operations, providing access to microfinance operation, reflecting financial services to MSMEs and on the Bank's success strategies the active poor. We appreciate w h i c h i n c l u d e s t a l e n t our esteemed customers, management, technology and r e g u l a t o r s , d e v e l o p m e n t excellent service delivery as well partners and investors for having as the use of well established faith in us, but most especially in systems, processes and the workability of microfinance as It will also touch a veritable tool for improving the on how the bank has pursued economic conditions of the institutional strength through Nigerian poor society, vulnerable strategic partnerships and groups such as women and collaborations, as well as the ultimately MSME growth. Indeed Bank’s efforts towards strong to achieve these business community presence through objectives, vision and mission, social performance initiatives and needs co l l abo ra t i on and Corporate Social Responsibility. partnerships of stakeholders.

Finally, this edition will review key I gladly present to you, the 2018 success stories from customers S p e c i a l E d i t i o n o f t h e o f t h e b a n k w h o h a v e M ic ro f i nance Search l i gh t experienced organic growth in Magazine, a quarterly publication their businesses alongside the of HASAL Microfinance bank bank. It will also highlight on the limited. Microfinance Searchlight future projections of HASAL m a g a z i n e p e e r s i n t o which forms a basis for it’s development opportunities for commitment to existing and the indust ry, as wel l as w o u l d - b e c u s t o m e r s a s contemporary issues confronting expressed by the Board of the sub-sector. Microfinance Directors. searchlight is being published

Microfinance Banks

products diversification.

“HASAL Microfinance Bank: 10 Years of Supporting MSME G r o w t h a n d F i n a n c i a l Inclusion”.

HASAL Microfinance Bank Ltd.

Rogers A.I. Nwoke

Lilian Sahobor-Bassey

Tolulope Adegbokun

Kashim Sani & Winifred Adeede

Danset LimitedChinenye Nwadinobi

HASAL Microfinance Bank Ltd.Plot 1652, Ahmadu Bello Way,Garki District, PMB 740, Abuja.E-mail: [email protected]; www.hasalmfb.com.

PUBLISHER:

CHAIRMAN/EDITOR-IN CHIEF:

EDITOR:

NEWS EDITOR:

ADVERT TEAM:

GRAPHICS:

CONTRIBUTORS:Dr. Igbinomwanhia Victoria, (MBBS, MPH)

Corporate Head Office

Lilian Sahobor-Bassey

2

Editorial Team

Microfinance Searchlight Magazine | Special Edition

A Vision Well Casted

T

of the market and graduate them through small loans to become small businesses, grow into medium enterprises until such a time that their businesses have become big enough that we can no longer accommodate their needs for financial services.

HASAL has in the last 10 years beginning from October 2008 when we started, disbursed more than N45 billion to approximately 55,000 borrowing clients. Today we have a customer base of almost 200,000 people. From inception, we introduced the use of electronic channels in extending financial services at the very low ends until we signed on to InterSwitch in 2009/2010, at a time when no microfinance bank of our size was investing in electronic banking.

Today through our home financing products, we are helping families own their own homes, renovate dilapidated buildings or even furnish an existing home to improve their living standards. Through our education programs we have helped families with timely soft loans to pay their wards' school fees. We are supporting civil servants with salary-backed loans to enable them build assets and cater for financial exigencies.

We have helped people to establish businesses that were not

convinced that credit is the there 10 years ago, we have he vision for the bank started strongest tool to get people out of helped businesses to expand. with a need to serve the poverty. Rather than looking for jobs, unbanked, to support HASAL have enabled many

enterprise development through people to become employers of labour. We have also created MSME financing and to bring At HASAL our target customers value from the perspective of financial services to the doorsteps are low income households, people; today HASAL have of the financially excluded. HASAL individuals, micro, small and approximately 300 employees but M i c r o f i n a n c e B a n k w a s medium enterpr ises. What we have created jobs for more established in October 2008 to qualifies you to be our customer is than a 1,200 people from

touch lives at the lower income that first and foremost you inception, people who have sector, to give access to finance for previously have not been banked, passed through the system either the micro, small and medium you do not have access to formal had to leave for greener pastures enterprises, to bring into the formal financial system, you have not or had to go back to school and financial sector people who were been incorporated or included into things like that. We have also

c r e a t e d v a l u e f o r o u r previously excluded from financial the financial services sphere; and shareholders, having made services to be able to have access through a linkage program we returns on investment through to credi t because we are bring in people at the very low ends

Value Creation

Target Customers

3

ROGERS A. I. NWOKE (FCA, MCIB, HCIB, MBA)Founder, MD/CEO


Continues on Pg 4

cash dividends and through bonus The direction is a lot easier to follow.investment. To the government strategy from the day we started is and other stakeholders we have to achieve operational self- We have leadership that are consistently paid our taxes, we sufficiency immediately, so as to passionate, committed and also fulfil our corporate social instill confidence in our investors. dedicated to the business model, responsibilities through various In the very f irst month of always putting the bank first above activities that have provided operations, we made a profit of one every other thing. At the end, we support to the poor. In fact, we have million and fifty thousand naira we have groomed confident experts touched every stakeholder of said there will be no basis of who can take over the business at HASAL MFB and we are not declaring a loss since we had the any point in time. Our policy had relenting in our resolve to liquidity to run the business. In 10 always been that “nobody is continuously touch lives for good. years of operation, there has not indispensable, the organization

been any month we came out in the should pick itself at any point and negative, we have always taken take leadership”

Board & Ownership: In the first s e r i o u s l y e f f i c i e n c y a n d five years the emphasis was not on productivity. We have had a fair share profitability but on building the of the right kind of people. There is institution through organic growth. Leadership is about no amount of control that is Ou r successes has been influence, it's about getting people effective in a place where there are dependent on a number of factors, to agree with you and follow you in bad people. The level of fraud that the type of ownership and directors the direction that you want to go. I exist in many institutions is we have - investors who were have always believed that an

alarming and capable of destroying knowledgeable, who understood average human being knows what an institution. But we thank God that an investment needed time to is good for him and the right that we have never had any of such yield results and they were very direction to go so when he finds a

patient about it, they were cases. Our managers are in leader who is heading in the committed at every point in time, positions where they could have direction where value is created, interested in growth, people who connived to execute massive you don't have too much problems do not depend on HASAL for their frauds, so we have had good directing people. So leadership daily livelihood neither do they from the perspective of the board, people. Our prayer is that God influence our recruitment decision we have had Board members who continues to lead our people so or business decisions negatively. are excellent people, who have there will be no negative changes. We all believed that the growth achieved in their own different strategy will mean compounding sectors, people who have Our maiden CBN our profits so as to steadily build completed and retired from examination in 2010 was scary but cash and liquidity and thus give the service. So they bring to the board

we had decided to be transparent, bank a stronger muscle. The a lot of experience. shareholders class we had were to open our books to regulators so marathoners not sprinters. that the bank can be guided From the chairman of the board to

appropriately where we were other directors, you will only see Our focus from day quality, discipline and integrity. Also getting things wrong because

one was in Micro, Small and a t management leve l , we unless you tell your doctor the real Medium Enterprises (MSMEs) and painstakingly go through rigorous position, you will never get the those at the bottom of the pyramid. process to bring people into senior a p p r o p r i a t e d i a g n o s i s o r We knew that the space for the management and we make sure

medication. So we have always large corporate, the oil and gas, the that the t ra in ing is done. been transparent and this have telecom is already full, that is a very Leadership for us has been very

red ocean, and also not the enabled us stay on the right track.useful because an organization microfinance target market, so our needs to have the right kind of consistent focus on MSMEs, which people with integrity. Integrity of a is where the real opportunities are leader is key, a leader who wants to for the industry has yielded steady do microfinance because of results for the bank. passion for the poor, passion for

service and he truly means so. We Hence at the management level,

recognized that it is the employees we have peop le who are that matter, that anything we want contented, people who are happy to achieve depends on our people with what they have achieved so so we will keep loyalty in human far, for the creation of HASAL is not talent. We set out to attract, recruit, about enrichment or personal develop and retain and motivate gratification but for people who the right kind of people so as to truly think that they want to give build loyalty, diligence and high back to the society. So when you performance. have that kind of leadership,

Our Competitive Strengths

Operational Efficiency:

People:

Leadership:

Transparency:

Market Focus:

Ta l e n t M a n a g e m e n t :

4Microfinance Searchlight Magazine | Special Edition

Continued from Pg 3

HASAL Microfinance Bank commenced operations in

October 2nd 2008 as a unit microfinance bank with

shareholders fund of N25m and grew to about N200M

within our first year of operation. Presently, the bank has a shareholders'

fund in excess of N2.1billion, grown through

retained earnings and additional investments.

FACTS

minded institution. Here I have met that HASAL MfB has met 95% of my Looking forward into the future, we realize the need to plot our expectations. wi th people who are very next strategic direction, having respectful, who are ready to spent 10 years in the market What was my expectation when I was accommodate other people and already. So far the bank has joining the bank? My expectation who are very innovative and learnt from experience, and we were not in any way linked to intelligent, that made me feel very have done our SWOT analysis personal interests, nor was it fueled

much at home. by way of assessing our by a pursuit for more money for s t r e n g t h s , w e a k n e s s e s , myself. Rather, it was to contribute to opportunities and our threats. the society what the society has

invested in me. How? By ensuring that the rural man becomes Therefore we have come to the financially inclusive enough to run his conclusion that within the next transaction and to the extent that he decade we wi l l have to can raise small capital to do whatever emphasize on our areas of My experience with the bank has he decently needs to do in order to expertise or strength to drive

also been quite educating, because live a decent life. digital finance, agric-finance, here I started learning new things micro-housing and rural banking. about financing, how to sell, how to Here is a bank that has continuously How do we intend to go about it?

The bank's strategy from the shown interest in growing that active do certain commercial transactions onset has been woven around poor individual, in teaching and which previously I wasn't privy to in

helping him to be more productive to organic growth, and this we do the public sector. himself, his family and his society. not wish to change. So our

venture into different emerging I was an administrator, mine was to microfinance products and In achieving our goals, we have had monitor, to give directives and to service lines will be done some challenges, yes irrespective of control so all my life I have been gradually. our successes, I am not afraid to talk controlling and giving directives so I about our challenges because wasn't used to the rudiments of the challenges are inevitable on the road As we expect the approval of a banking system nor microfinance to success. Our major challenge has National license from the Central banking. However, when I joined been how to raise enough finances to Bank of Nigeria, HASAL is

cope with the request of the already strategically positioning HASAL, I started getting interested average/low level customers who the institution for the challenges, in microfinance banking, I have want to expand their business. In this and demands of expansion. This come to learn how effective the industry, as large as the players might too will happen organically, we MSMEs are to economic growth as be, funding has always been a big do not intend to go bullish in our well as the strong role micro-challenge because the demand expansion into other states, financing plays in supporting this usually far outweighs the supply. rather, capitalizing on our

growth. strength, we are making our research on viability of the There are tons of micro and small

For me, it has been exciting microfinance market within the enterprises that needs financing to because I hold a first degree in ne i ghbo r i ng s t a tes . Ou r grow their business, there are also management and an MBA in attraction will be drawn from a thousands of businesses in crisis that

needs assessment in those finance and industrialization, hence needs finances to rescue their states, the availability of micro-business, not to talk of millions of my involvement in HASAL has enterprises as well as the upcoming entrepreneurs needing taken me back to the drawing strength of competition. capital for startup, hence the market board, it is like replaying the things I

is large and the demands are huge, learnt in school, not as theory however the funds are limited. Within the next 10 years we anymore but more practical now.

should be able to be in about 15 Hence my reason for saying that my states of the federation covering Like many microfinance banks, experience with the bank has been the North-central, South–south, HASAL is equally plagued with this both interesting and educating. South-east and South–west in challenge. Our source of funding is selected states. The emphasis commercial and expensive, funding

Speaking of performance, I can say will be on states with insignificant is limited, so how do we match up that HASAL has largely met my presence of microf inance with client's huge demands? For expectations. Like individuals, institutions and a vast number of somebody like me whose urge has institutions may not perform at micro-economic activities. We been to alleviate the sufferings in the 100%, nor can they meet all your are aware that there is need for rural area, this challenge has always demands, however, most important f inancia l serv ices at the been palpitating my mind – that is, is that the organization should g rass roo ts , a t t he ru ra l how do we access enough cheap substantially meet the expectations environment, and that is why we funds to cater for this set of of its stakeholders. Considering my are strategically planning our customers?. I know this is an background, and also looking movement and our expansion industry-wide issue, however we are critically at the microfinance steadily.looking at ways that we can solve this industry using the economic

issue as it affects us as a bank and operating environment as a basis our prospective clients.for appraisal, I can substantially say

6

Continued from Pg 5

The market is large and the demands are huge,

however the funds are limited.


ur strategic vision is to become a national local or rural bank in the nearest O

future with very competent staff and high level of service delivery. This vision formed part of my attraction to the bank. I joined the board of HASAL Mic ro f inance Bank precisely on 20th January 2013. My initial interest in the bank was connected to my trust and respect for our current MD/CEO whom I got acquainted with in the 90s after his graduation from the university. We became very close with one another like brothers.

When they were about setting up HASAL, he actually told me of their intentions and invited me to join the noble course, because he knew I was someone devoted to serving humanity. However, since I was still in the federal public service and almost getting to my retirement, I didn't want to venture into something I could not defend due to the nature of my appointment at that material time. When I finally retired, I took time to get myself together.

Even though the invitation was still open, I had a lot of thinking and analysis to do in terms of my re levance to the indust ry, contributions and participation because I do understand that the public sector and the private sector are quite different. Finally, about early January in 2013 when I felt I was ready, I requested for a formal letter of invitation which I gave a prompt attention and by the 10th of that month. I had replied accepting to join the bank and to pay all the necessary funds by way of equity that was required of me.

interesting experience for me. It into the private sector environment, feels like going back in time to my one needs to learn new ways of youthful and early career years. doing things, new processes and It has been over 5 years now, and I Interesting in the sense that coming decision making procedures. can categorically say that this has from the public sector and landing HASAL is a vibrant and youthful-been quite an educating and

5

From The Board of DirectorsOUR STRATEGY IS DEVELOPED ON THE VISION

ABOUT THE CHAIRMANPrince Olorungbemiga Tiyamiyu became the Chairman, Board of Directors of HASAL Microfinance Bank Limited in July 2016. Before joining HASAL in 2013, he had spent over 35 years working for the Federal government where he served as Deputy Secretary in Foreign Exchange, Anti-Sabotage Tribunal, Miscellaneous Offences Tribunal and Currency Counterfeit Tribunal. He was also the Protem Secretary (Director-General) of the National Drug Law Enforcement Agency between 1990 – 1995. Prince Olorungbemiga Tiyamiyu also served as Director; Economic and Financial Crimes Commission (EFCC), and as Head of Capital Budget Division in the Ministry of Water Resources.

Prince Olorungbemiga Tiyamiyu (MBA)Chairman, Board of Directors

Continues on Pg 6


Here is a bank that has continuously shown interest in

growing that active poor individual, in teaching and

helping him to be more productive to himself, his

family and his society.

quality staff strength, the directors banks like Diamond Bank and must say it's been very fantastic and banking operations is running Access Bank and he brought that because a lot of the Microfinance I extremely well. This is because we culture of management, the culture banks we started with don't exist have focused on maintaining quality o f i n t e g r i t y i n t o H A S A L anymore. Not only are we in good managers, the managing director for Microfinance Bank. shape but we have maintained our instance has been in reputable levers of production, most especially

The difference here is the clientele

which constitutes the lowest in the

ladder, the average, typically small,

poor business person, men and

women, market people, artisan

because he has a passion for that,

for bringing people up and that

passion has caught up with a lot of

us.

I share that passion with him and that was why I started with him from day 1 to pull up people that are at the lowest ladder of the economy because that is a serious way of reducing poverty. We are not going to obliterate poverty completely but at least if more than ¾ of the population is lifted up, then Nigeria will be a much better place to live in, so that is what HASAL Microfinance Bank is out to do, to pull up people.

At HASAL, we have been able to pull up people at the lowest end of the ladder to come up and become the middle level class of tomorrow. That is what a microfinance bank is supposed to do and that is what HASAL Microfinance Bank is doing.

The difference lies basically in the passion of its founders. A lot of people that went to get license for microf inance banking were probably not passionate about creating wealth for others. There is a difference between creating wealth for yourself and creating wealth for others, you must have a passion for doing things that will help other people to successfully practice microfinance.

The failure of many microfinance

banks is largely attributable to

either a poor culture, or the

Our Distinctive Growth Factors

From The Board of Directors

STRONG CULTURE AS A BEDROCK FOR SUCCESS

Prof. Ndi Okereke-Onyiuke is the pioneer chairman of HASAL Microfinance bank from October to July 2016. She is an acclaimed financial expert with several years of capital market experience having led Nigeria Stock Exchange as the Director General until 2010. Prof. Ndi Okereke-Onyiuke is a fellow of the Chartered Institute of Stockbrokers and USA Market Research Institute. She belongs to many Professional Institutions which includes: African Stock Exchange Association (ASEA), World Federation of Exchanges (WFE), Nigerian-American Chamber of Commerce, Nigerian-British Chamber of Commerce and Nigerian-South Africa Chamber of Commerce.

7

Prof. Ndi Okereke-Onyiuke (OON, FCS, PhD, DBA)

Pioneer Board Chairman (Oct 2008 –July 2016)

Continues on Pg 8


absence of an organizational market woman because of that your not leave anyone of our clients loan”. What does this do, it makes behind. We will continue to carry culture that suits the industry and you aspire more and it gives you them along as we grow and these its unique clientele. They most great joy. So those of us who joined applies to both existing and likely were not focused on working Austin Rogers Nwoke to develop upcoming customers.

with small and medium scale HASAL Microfinance Bank are

enterprises, the people on the today very happy that we have We also take training of our staff to lower cadre, the market woman, touched a lot of lives. become highly professional in artisans who needed just about servicing our customers very

Today, we have people who didn't seriously. We train the staffs to N500,000 or N200,000 or even as know that they could go to a bank to learn how to relate with customers little as N50,000 to establish or raise money for their business. so that they don't feel intimidated. grow their business. Some of them that started with as The managers spend time to talk to low as N50,000, are now coming for customers, understand their

They were comparing their N500,000, even up to N5million. It's needs, provide business advice

profitability with those of the unbelievable how they have grown, and even mingle with them to commercial banks, and they felt and even referred other people to create better relationships. that they could get a microfinance the bank because they now believe license and make their money. No in us. Those people are not afraid to you don't do that in a microfinance come because they know that the We see HASAL in the next 5 years bank, yes the profit might be very people working in the bank are more to have matured even better, and

accessible. It gives us great having branches in many parts of minimal but it is more of a passion pleasure when we look back and Nigeria but still maintaining the to help the society, to help people in see what these people have been culture of pulling up their people the lower cadre, people who are able to accomplish with the little from poverty to relevance. We are serious about doing business to money they were able to access not going to forget where we are grow and grow bigger.from us. coming from, we are not going to

say we are big we will only provide Microfinance is about sustainable One thing I have come to learn is services to the big people but we impact, and you need a culture of that if nurtured well, and with good will continue to concentrate on discipline, integrity and good follow up, particularly paying good MSMEs, and low income people management in order to stay on attention to their business growth, because that is what microfinance track. the pay-back ratio amongst the banking is all about.

active poor, and micro businesses is quite high. Hence my advice is that So our growth will not be away from So making an impact in the society, as microf inance banks, we our customer focus, rather, we will in peoples' lives brings long term concentrate on this cadre and grow symmetrically, we will gratification. it is not about the nurture them, educate them, there is continue to spread, broaden our immediate gratification that comes every likelihood that they will pay base and outreach. We are not from huge returns on investment, back on their loans since they are going to just grow straight like a but that gratification that comes interested in accessing more funds tower. I will also use this when you hear good testimonies and expanding their business opportunity to ask the Central Bank about your institution from the growth. of Nigeria to realize that in people and enterprises you may regulat ing and supervis ing have touched for good. If you come Talking about our strengths, at microfinance banks, they must to a village or an area like Dei-dei HASAL, we are a microfinance bank apply different standards and market, you don't expect to make that leverages on the use of benchmarks that are unique to the billions of naira there, you are going technology to facilitate banking sub-sector and very different from there because you believe there is culture among low income clients. those applied on the commercial a huge potential to help those Now as the bank is moving ahead, banks, because this industry is individual businesses grow in a we have different classes of different and the dynamics for . microfinance products in the doing business is also different. offerings and with technology, our You want to see testimonies from products are even more affordable people who will tell you of how your than normal. bank helped them with small loans

of N250,000 and also see the Hence we will continue to further tremendous growth they have facilitate banking activities with achieved with such funds. We want available technology, so that we do to hear things like “I am today a big

sustainable manner

Going Forward

8

Continued from Pg 7


HASAL offers services out of 18 locations

covering all the six (6) area councils

of the Federal Capital Territory, Abuja.

FACTS

H When we had the vision to build a Director here at some point and I ASAL is 10 years now and has microfinance bank 10 years ago, I worked for about 5 years from the sustained i ts operat ion was a practicing stock broker, so beginning before I left. This is

through the huddles. The result of the motivation for me was partly to because we couldn't have built the this struggle can be seen in the brace up to the challenge of kind of institution we envisaged bank's profile as well as in the building a sustainable enterprise, w i thout get t ing personal ly various businesses it has impacted as well as the drive to establish involved. upon. Basically, as a founding something for oneself, away from director, I am especially proud that paid employment. So myself and We realized that the industry was we have essentially established my big brother Rogers talked about new, it had its promises though, something that can carry on even it. We made sacrifices though, and but it also had its challenges after us. there was a lot of hard work too, for upfront. It could have been also

instance I was an Executive disastrous had we decided not to pay some personal, daily attention to it, to face the challenges of microfinance ourselves, to learn on the rope and to correct our mistakes when we make them.

Personally, my projections for the future are only positive, because 10 years ago, as big as the dream was then, I didn't expect that HASAL Microfinance Bank would have been as prominent and successful as it has become today. So my expectations for the next 10 years is having HASAL become one of the biggest and strongest national microfinance banks in Nigeria. Then we can take it symmetrically from there to the next level.

But these projections requires a lot of hard work, and a lot of favour from God because microfinance banking is a difficult terrain. Hence we should build on our areas of strength while we continue to deve lop more compet i t i ve advantage. We cannot ignore our unique target market at this point, who are typically the low income segment of the society. As we continue to develop ways of growing with these people, we will continue to study the market, the economy, and the trends so as to always decipher what is best for them.

Hence for us at the board level, we are determined to ensure policies and banking operations are strengthened, quality of service will continue to be reviewed upwards to meet best practice and we shall build on a responsive feedback mechanism to meet the various needs of our unique customer mix as well as to ensure t h a t w e d e l i v e r o n o u r commitments to our clients.

Mr. Dagogo Emman Iyeimo (FCA; FCS; MCIB; MSC)

Non-Executive Director

Dagogo Emman Iyeimo is a Non-Executive Director in HASAL Microfinance Bank and serves as the Chairman, Board Credit Risk Management Committee. He is a thoroughbred Capital Market Professional with over 15 years' experience. He is an authorized Dealing Clerk on the Floor of the Nigerian Stock Exchange (NSE). He is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN), Chartered Institute of Stockbrokers (CIS) and a Microfinance Certified Banker (MCIB). Dagogo has an MSC in Economics from University of Manchester United Kingdom.He worked in Central Securities Clearing System Ltd (CSCS) where he acquired uncommon skills in the clearing, settlement and delivery processes. He also led the business development and special projects department of HASAL as an Executive Director from 2009 – 2013.




next level. Our concentration has It creates employments, puts t HASAL, our key strategy been on Micro, Small and food on the family table, sees the is to help poor people and A Medium enterprises because we younger generation through businesses to grow. This understand that the MSME standard education and boosts was the strategy 10 years ago, as s e c t o r i s a s t r o n g a n d the nation's GDP. In addition, we we ventured into the market, and dependable vehicle for economic will continue to focus also on the this will continue to be our key growth. poor, low income households as strategy for taking the bank to the

well as young entrepreneurs.

There are also other areas we have not tapped much into, which is agric-finance. As Nigeria continues to pay more attention t o a g r i c u l t u r e a n d industrial ization, we as a microfinance institution will also review ways that we can serve that market at our own level.

Hence, as we pursue the granting of a national banking license from the Central Bank of Nigeria, we are also making plans on how to expand in these areas. Suffice it to say that every state and region in the country has its own unique economic activity, so we may not basically operate a one-suit fit-all model. We will tap into the viable economic activities of the regions we wish to expand to, as far as these activities are within what is permissible for microfinance banks as laid down in the microfinance guidelines.

The major goal is to ensure we are helping people grow, while providing our services in a sustainable manner. That is our number one business, that is what we have been doing and we will continue to do that. With these projections in place, and if carefully implemented, we see HASAL becoming one of the topmost national microfinance banks in Nigeria within the next 10 years.

At the board level, this is our respons ib i l i t y, t o ensu re strategies for growth are in place and pursued. This is our promise as members of the Board.

Mrs. Juliana Ngozi Achunine is a Non-Executive Director at HASAL Microfinance Bank and serves as the Chairman, Board Finance and General Purpose Committee. She retired from the Federal Civil Service with over 31 years' experience. While in service, she served as the Deputy Director in the Ministry of Health and Ministry of Aviation respectively where she led the reformation and repositioning of the ministry in its bid to protect the interest of Nigerians. Mrs. Achunine has attended numerous local and international courses sponsored by the Federal Government. She also travelled the world as a member of the Rotary Club of Nigeria International and was a past President of the Rotary Club of Asokoro District 9130 Nigeria



Mrs. Juliana Ngozi Achunine


Ounrealistic promises, rather we client, which is why many

ur unique selling point at transparently disclose every needed customers have grown from HASAL MFB is reliability, information to the client to enable Micro to SME businesses with

products diversification and corporate them make informed decisions. HASAL . A t t r i bu tab le t o governance. We can be trusted for H A S A L ' s 1 0 y e a r s o f every commitment we make. This is sustainable operat ion is In addition, we have various d r i v e n t h r o u g h a b s o l u t e corporate governance, which microfinance products that are tailor-transparency. At HASAL, we do not the board and its management made to fit various business needs. encourage our people to make team takes seriously. Also, we Our interest is in the growth of the

have a strong team that is knowledgeable in the business of microfinance banking.

My major attraction to join the bank came as I reviewed the profile of the bank and the cal iber of i ts d i rectors. Specif ical ly, I was most impressed by the caliber of its management and the value system that is evident in the organization. Hence, when I was invited by the shareholders to serve on the board, I felt that I have shared values with this organization because of the fact that I know that these are people who are very committed to industry growth and also people of high integrity.

Having reached this milestone, we are putting plans in place for t h e n e x t d e c a d e . O u r expectation at the board is that HASAL will grow a lot bigger and stronger, offering services to a wider range of customers and also extend to much more locations within and outside Abuja. Maybe we can get to that stage where our services might even be extended to some locations outside the shores of Nigeria.

O u r s t r a t e g i e s f o r t h e anticipated growth will focus on consistently strengthening our human resources, making best use of available technologies to provide a wide range of products and to drive outreach, as well as pursuing customer satisfaction through quality s e r v i c e d e l i v e r y. M o s t importantly, we will continue to ensure that our operations creates significant impact on the lives and businesses of our customers, thereby garnering the loyalty of our customers.

Henry Umoh Akpan is a Non-Executive Director in HASAL Microfinance Bank and serves as the Chairman, Board ICT Committee. He has over 9 years' working experience both in Investment and the Banking industry in different capacities such as Business Development, Strategy and Training.Henry is a member of the Nigerian Society of Engineers (NSE) and holds a Bachelors of Engineering (B.Eng) in Mechanical Engineering from the Federal University of Technology MINNA, Niger State.


Mr. Henry Umoh Akpan



Inclusive Leadership, an Anchor for Productivity

Good leadership is a reach the very junior employees through training and Hands-on bedrock fo r s t rong and to have their opinions and experience. enterprise management. contributions count in strategic

At HASAL, we focus on inclusive decision making. M o s t m e m b e r s o f t h e leadership to draw out the best in management team today our people. The open door policy At HASAL, the management joined the bank within the first of the bank ensures information is structure is clear and broad. This two years of our operation, structurally cascaded down for is one of our strategies for driving these individuals have been collaboration and collective productivity and for ensuring developed over time, and understanding. decentralization of decision many have gone for training

making where the need arises. programs in Boulder Italy, the Unlike in many organizations, Bankers Institute for Rural employees of the bank are carried Our management team is made Development India and the along on al l management up of industrious and highly School of African Microfinance decisions as the case may be. talented individuals, who are Kenya, as well as the Coardy Leadership is broad and groomed qualified in the practice of Institute in Canada.bottom-up, making it easier to microfinance banking both

Dynamic Management Team

Mr. Nwoke is an Alumnus of the Harvard Business School Accion Program in Strategic Leadership for Microfinance. He is also a fellow of the Institute of Chartered Accountants of Nigeria (ICAN), and an Honorary Senior Member (HCIB) of the Chartered Institute of Bankers of Nigeria.

Mr. Nwoke is an International Certified Expert (iCME) of microfinance and International Certified SME Finance Expert (iCSME) from the Frankfurt School of Finance and Management, Germany.

He has an MBA from Warwick Business School England, where his research interest focused on M i c r o f i n a n c e a n d E n t r e p r e n e u r s h i p Development.

Rogers is currently leading a strategic realignment of the microfinance sub-sector in his role as the 2017-2018 & 2018-2020 elected president of the National Association of Microfinance Banks (NAMB).

Mr. Rogers Augustine .I. Nwoke (FCA; MCIB; HCIB; MBA.) Amongst several merit awards, he has been

recognized as the Youth Ambassador for peace 2009 (Youth Federation for World peace) Distinguished Leadership Award (African President, National Association of Microfinance Leadership Awards Dubai 2010). Banks (NAMB)

With all these achievements, he is no doubt a Rogers A.I Nwoke is the founding Managing distinguished Nigerian whose vision is tied to Director/Chief Executive Officer of HASAL excellence.Microfinance Bank Limited. He brings along over 2 decades of experience of banking career, covering

Investment banking, retail banking and Microfinance.

Founder & Managing Director/CEO HASAL Microfinance Bank Ltd;


Joyce Rogers-Nwoke; & Management Germany. MCIB, MBAChief Operating Officer She is a seasoned banker with more than 17 (COO) years experience in Business Development,

Credit Administration, Banking Operations Joyce Rogers-Nwoke is an and Information, Communication Technology Alumnus of Strathclyde (ICT). Business School, Scotland and the Harvard Business Joyce joined HASAL Microfinance Bank in School Accion Program in 2008 and has been a pioneer in driving Strategic Leadership for innovative microfinance delivery and financial

Microfinance and Frankfurt School of Finance inclusion within the bank.

Julie Ogwu Agi, MCIB, MBA G r o u p H e a d , R i s k Management

Julie Ogwu Agi has over 23 y e a r s o f b a n k i n g exper ience cover ing Banking Operations and Credit Administration in major Nigerian financial institutions before joining HASAL Microfinance Bank as the Group Head, Risk Management in 2014.

She is a thorough bred Operations Manager who has helped major financial institutions in the country grow and create wealth for its investors.

Chinenye Alaribe, A C A ; M C I B .Group Head, Business Dev. & Special Projects

Chinenye is a Chartered Accountant, a Certified M i c r o f i n a n c e P r a c t i t i o n e r , a n d Business Consultant with over 17 years experience in financial s e r v i c e s c o v e r i n g wholesale and retail

banking, pension administration and capital markets operations.

He is a Start-up Expert who has been involved directly in the start-up and nurturing of four thriving institutions including HASAL Microfinance Bank Limited.

Ruskiyat Badmus, MCIB, MBA Head, Finance & Strategic Development

Ruskiyat Badmus is an a l u m n u s o f t h e Birmingham Business School UK, University of New Hampshire Durham USA, Frankfurt School of Finance & Management, Germany and with over 9 years experience in the microfinance industry.

She is a Certified Microfinance Practitioner and a Certified Microfinance Trainer of the UNDP MFToT8. Ruskiyat is also an expert in SME and Micro financing with trainings from prestigious institutions like the Boulder Institute of Microfinance and the School of African Microfinance, Kenya.

Muhammed Abubakar, M C I B , M B A . Head, Remedial Assets Management

Muhammed Abubakar has over 10 years of banking exper ience covering Microcredit and Microfinance banking in major Nigeria Financial Institutions before joining

HASAL Microfinance Bank Limited.

Mr. Abubakar is a Certified Microfinance Practitioner by the Chartered Institute of Bankers of Nigeria (CIBN).


Queen Ajani, MCIB Head, Loan Recovery

Queen Ajani has over 15 years p ro fess iona l experience, out of which 6 years was well spent a s a b u s i n e s s development personnel within the commercial banking space. Queen joined HASAL Microfinance in 2009 and has led various business development teams within the last 9 years

She is a Certified Microfinance practitioner, and a Certified Microfinance Trainer.

Lilian Sahobor-Bassey, MCIB H e a d , C o n s u m e r Protection & SPM

Mrs. Lilian Sahobor-Bassey has 14 years professional experience covering consult ing, H u m a n R e s o u r c e Management, Training & D e v e l o p m e n t a n d Consumer Protection & Social Performance.

She is certified Microfinance trainer, a member of the Nigerian Institute for Training & Development (NITAD) and a Certified Microfinance Practitioner by the Chartered Institute of Bankers of Nigeria (CIBN).Lilian Joined HASAL in 2009.

Salami Momoh Saliu, MCIB; FCE; MBA.Head, Audit & Ins-pection

Salami Momoh Saliu has over 20 years of p r o f - e s s i o n a l experience from major financial institutions in Nigeria.

He is a certified Microfinance Practitioner and a fellow of the Institute of Chartered Economists of Nigeria (ICEN).

Susan Dung, MCIB; LLB.H e a d , L e g a l Department

Susan Dung has over 9 years experience in microfinance banking. She is a member of the N i g e r i a n B a r Association.

She is a certified Microfinance Practitioner by the Chartered Institute of Bankers of Nigeria (CIBN). and an expert on Risk Management and Micro financing from the Frankfurt School of Finance and Management, Germany.

John Tunde Ologun, MCIB Head, Branch Services & Operations John has over 10 years professional experience from both the commercial and microfinance sector. H e i s a c e r t i f i e d Microfinance Practitioner and also a Certified Microfinance Trainer.

John joined the bank in 2010 and has been playing key roles in leading the banks operations and branch services team.

Simon Eromosele, MCIB; LLM.Zonal Manager, Abuja South Zone

Simon Eromosele has over 10 years of banking e x p e r i e n c e c o v e r i n g M i c r o c r e d i t a n d Microfinance banking in major Nigerian financial institutions before joining HASAL Microfinance Bank

Limited.

He is a Certified Microfinance Practitioner, a member of the Nigerian Bar Association (NBA) and the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN). He is currently the Zonal Manager, Abuja South Zone supervising SME and Micro-businesses in 6 branches.


N a s i r u M u h a m m e d Saliu, MCIB Zonal Manager, Abuja West Zone Nasiru Muhammed Saliu h a s o v e r 8 y e a r s experience in the financial services sector with specific passion and experience in micro-lending. H e i s a C e r t i f i e d Microfinance banker by the Chartered Institute of Bankers of Nigeria (CIBN), with special skills and Certifications in Credit Risk Management & Basic Lending Principles.

He is currently the Zonal Manager, Abuja West Zone supervising SME and Micro-businesses in 6 branches.

Mercy Okenwa, MCIBZonal Manager, East Zone Mercy Okenwa is an a l u m n u s o f t h e University of Nigeria, Nsukka and has over 9 years work experience in the financial services industry.She is a Cer t i f ied M i c r o f i n a n c e Pract i t ioner by the

Chartered Institute of Bankers Nigeria (CIBN).

Mercy has functioned at various times as Relationship Manager, Regional Manager and Group Head Retail in microf inance banking. She joined HASAL microfinance bank in March 2016 and is currently the Zonal Manager, East Zone supervising SME and Micro-businesses in 6 branches.

Fidelis Okey Nnamani, M C I G C D , P G D .H e a d , S e c u r i t y & Administration

Fidelis Nnamani is a m e m b e r o f t h e Chartered Institute of Global Communication and Diplomacy and also a p r o d u c t o f t h e prestigious Police Staff Co l lege, Jos, and Spanish Institute of Police and Civil Guards

among others.He is a former Police Officer with over thirty years in the service. He held several strategic positions while in the force such as the Divisional Officer, Ishieke Police Station in Ebonyi State.

Until his retirement from the Nigeria Police Force, Mr. Nnamani was a staff officer and Head of Administration, & Monitoring Unit in the office of the Inspector General of Police, Force Headquarters, Abuja.

Adedapo A. Adebimpe, PGD, CMCA, MCIBHead, ICT.

Adedapo Adebimpe has over 9 years experience in the microfinance sub-sector.

H e i s a C e r t i f i e d Microfinance banker by the Chartered Institute of Bankers of Nigeria (CIBN).

He is also a Certified MicroCredit Administrator by International Institute of MicroCredit Administration (IIMCA).

He joined HASAL MFB in 2012 and has played significant roles in driving the banks IT infrastructure.

15

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Using Unique Products Diversification to drive Productive Operations

Interview with Mr. Chinenye Alaribe Group Head, Business Development & Special Project HASAL Microfinance Bank Limited.

Sir, what are the key products that HASAL will focus on to grow the sub-sector?

Sir, kindly elaborate

m o r e o n H A S A L ' s

Housing Finance product

and its micro customers.

Having said the above sir, let us in into the different sectors or markets the bank i s f o c u s i n g o n ?

we have done this over the years government institutions as well and we will continue to support as those in private sector that sector within our limits. institutions. Our payroll lending

HASAL has an array of products In 2015, HASAL introduced the provides loans backed up by targeted at various sectors of the Housing finance product, this their salaries. It is like what you economy. We have those that are product is aimed at supporting call salary advance. So they targeted di rect ly at micro people operating at the micro can access facilities from the enterprises, we have those level to own their homes or to bank and pay back over a targeted at small and medium improve their homes. If you look period of time usually within 9 to enterprises, we also have for around Abuja for instance you will 12 months period. These loans those who are employees in see a lot of people who have are usually used by customers government institutions, in private taken a long time in building their to cater for occasional financial sector institutions as well as homes. So that obligations such as children's products for people who want school fees and other to build houses, improve n e c e s s i t i e s o r their homes and so on. As emergencies that come we move on, we wil l along the way.continue to make it a target to reach most businesses and financial needs of the clientele. This also entails studying each market to understand what the need

This is a very attractive is, and how we can fit in, product, because the within the dictates of what is

permissible for our industry. need is crucial. Nigeria is

said to have a housing

deficit of about 20 million

houses and that is about

the last survey, so the The bank has SME lending

need for houses cannot products for small and

be over emphasized. In medium enterpr ises. These institutions can Abuja here, you will access from N1million and probably see skyscrapers above (depending on the size

and beautiful building that of their businesses). In the case of product helps them to hasten cost lots of millions to build but Agriculture, HASAL has been on such projects and move into driving growth reasonably in that in remote areas and rural areas, their own homes and then begin sector and to the extent of our

with a million naira or even less, to pay over a period of time. Not capacity. We do have a lot of you can actually build your own too long ago the Central Bank of customers who are into core

Nigeria nominated HASAL agriculture, we have those who home and live in it. That is micro among the 9 microfinance banks are good in agro-products like housing. We want to bridge the that are being used to pilot the fertilizer, and agro-chemicals that

gap that currently exists in the Micro-Housing scheme of the a re used fo r ag r i cu l tu ra l Central Bank of Nigeria. housing sector of the country production and all the rest. There

are also those who deal on and if you don't bridge that gap We have also introduced payroll livestock production such as

at the micro level, then you lending products which provide poultry farming, fish farming, and probably will not be working loan facilities to people serving in animal husbandry etc. Like I said,


Interviewhard to bridge that gap at any level about the need to boost the farmers who are at the micro level,

economy through agriculture but those with about 1 acre or 1 at all. So that is one of the those rhetorics have not been hectare of land that they want to

motivations that we had as a bank more meaningful than they are cultivate, small fish farm, poultry, right now, particularly in this those who rear domestic animals to delve into housing finance. current dispensation. etc.

We are happy that the CBN has We have seen what oil has done There are also the agric value to us in the recent past and if you chains for this caliber of clients, recognized this innovation by the look at the economy and the where you may not need to give

bank and has rewarded us by country generally, agriculture is them physical cash, but facilitate mak ing us one o f t he 9 done more at the peasantry such chains to enable them have

level. Many farmers do so for easy access to seeds, agro-allied microfinance banks out of over a subsistence, just to feed their products and even the market

thousand to pilot the micro- families and those are the caliber linkages to ensure off-taking of housing scheme of the Central of people microfinance banks their products at reasonable

are to serve. pricing. Those are the people we Bank of Nigeria.

are looking at and there are a lot of We are not focusing on the big them in the country. So it is one of farms, although we see a lot of the main reasons why we decided upcoming activities in large Before the advent of the boom in to delve into agric-financing at the scale farming within the last 5 -8 the oil sector in Nigeria, agriculture micro level because it is a large years. However, considering was the mainstay of our economy and untapped market. that we are a microfinance bank, and thereafter, there have been

HASAL is more interested in our successive administrations that target market, those smaller have directed the nation's attention

Still on products, why does HASAL MFB feel it is important to focus on Agric-financing?

17

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How do your clients view HASAL Microfinance Bank?

benefitted immensely from the we introduced a product called services rendered by HASAL to HASUSU some years back, told them; I will give you an example. We have a brand in the market, us of his strong desire to save. So We have customers who started that's the FCT where we operate he said he didn't want to have his borrowing N50,000 when the presently. I want to say that there ATM card and also didn't want to bank started about 10 years ago,

is no perfect situation, of course receive SMS alerts to know his today some of them are we could have a few cases of

balance. borrowing between 5 - 10 million dissatisfaction but generally naira. We have seen them grow HASAL has a brand in the market from patching up with people in He then started dropping little and our customers are very shops, to owning their own shops,

savings. When he came to the pleased with us to a reasonable not even renting anymore. If you bank after sometime to find out take a walk into the market and extent. If you take a walk into the how much he has and he make enquiries about HASAL am market there is hardly any

very sure that the positive d iscovered he had about customer you will meet that at one feedbacks you will get will be very N350,000 he almost fainted in the point or the other who has not comforting. As our slogan goes, banking hall because he had encountered HASAL either by we have touched the lives of our

never saved that kind of money in way of savings or by way of loans, customers for good in the last 10 or even knowledge about us and his entire life of doing business. years. what we do. So generally, I will We have lots and lots of positive say that the feedback we get from feedback from our customers and For some of them, we have the market has been a positive we are promising to improve on helped them to create a culture for one. service delivery to satisfy them savings. I will give you an

even more. example of a customer who when We have customers who have

18

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Benefits:

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Interview


Impact Assessment – Customers' Feedback

aving heard so much from the bank and its team visited 6 customers of the bank who are a mix management, the Microfinance Searchlight of micro and SME clients. The customers visited H(MS) team visited the markets in search of are: Lamin Laura Madaki, Utama Bredan, Joy

customers of the bank. The aim is to ascertain the Utulu, Ngozi Ajeh, Okoli Bathlomew and Stevo Auto level of impact their association with HASAL Services.Microfinance Bank has had on their business. Our

Customer Name: Lamin Laura MadakiNature of Business: Beverages & Made-in-Nigeria Juice DistributorLocation:Nyanya

How long have you been in this business?

When did you start banking with HASAL?

Why did you choose HASAL?

How much did you start with and how many times have you accessed HASAL loan? What effect has the loans had on your business and

your lifestyle?

I have been in this business for over 8 years.

I started banking with HASAL in 2012. When I joined HASAL, I was selling my goods in a garden. Within 2-3 weeks after I opened an account with them, they offered me a loan of N500,000 to uplift my business.

I chose HASAL because I needed assistance, they are the most assessable and easiest to meet in terms of loan from them, after some time I was given a assistance. When you go to them they will give you N5million which I used very well to increase my listening ears and within 2-3 weeks highest they will business and also paid up on time. By 2017, that is last assist you in terms of giving you loan. year, HASAL gave me N6million and this year I am

presently on N8 million loan.

I started with N500,000, that was my first loan with them. When I started with N500,000, I was able to

HASAL has really assisted me because now my finish paying the money in 6 months, so the bank gave

business moves faster than before. Before I used to be me N1million. From there I started getting N2million


in a garden, now I have a warehouse. Before I don't use to assistance now we don't lack goods as you can see, have enough goods and at times when you place order the before this one will finish another truck will be order may be delayed and if you don't have that extra outside delivering more goods. So HASAL has money you will have problems but with HASAL's really helped me. I am now a major wholesaler

Name:Mr. Utama BredanNature of Business:Sale of FabricsLocation:Nyanya

Sir, we are the team from the M i c r o f i n a n c e S e a r c h l i g h t magazine, responsib le for publishing a quarterly magazine that looks at the impact of microf inance on indiv idual businesses. Can you please introduce yourself?

What is the nature of your business?

Did the bank finance your business as promised and when?

When d id you commence How much did you borrow?business with HASAL MFB?

What do you want the bank to do for you in the future?

How do you feel about HASAL's services?

My name is Utama Bredan and this is my shop.

I deal fabrics, silk fabrics, linen, satin, organza, and different types of tailoring fabrics. My shop is here in Nyanya market as you can see. depend on them to expand my

business because each time I ask for loan, they always give me and

Yes, true to their words, HASAL did on time too.I started business with HASAL finance my business almost Microfinance bank in 2015 when I immediately. I started borrowing saw one of the staff of the bank from HASAL in 2015. First of all, always doing marketing in the the bank gave me a loan of I want the bank to continue to meet market. The staff was able to N150,000, after which I upgraded up with my loan request each time I convince me that the bank is to N200,000. Presently I am apply, because as a business willing to help me grow my servicing a micro loan of N400,000 man, opportunity can come business, so after a while, I only. anytime, also we have season for opened the account with their plenty sales. If you don't have Nyanya branch because most of enough money, you will not buy my neighbors in the market were enough stock and make credit. So already banking with HASAL. I am happy with the bank because if I know that HASAL will always be

they never disappoint. I know I can there for me, I can relax.

20

– Customers' Feedback


Name: Joy UtuluNature of Business: Bakery MaterialsLocation: Nyanya, Abuja

Madam, we are the team from the Microfinance Searchlight magazine, responsible for publishing a quarterly magazine that looks at the impact of microfinance on individual businesses. Can you please introduce yourself?

When did you start banking with HASAL MFB?

Have t he bank made anycontributions in your business? What else do you want the bank to

do for you going forward?

What do you like about your bank?

My name is Joy Utulu, this is my shop and I sell bakery materials here in Nyanya market.

I joined HASAL in 2010 when I saw the bank's staff always coming to the market to canvass for customers. They talked so much about helping small businesses to grow, so I opened the account with them. business was growing bigger. Then I loans to small business people like

later borrowed about N250,000 to us, they are always eager to do so.increase my products. Now I am presently collecting a new product

Yes. In 2011, I asked for a loan of called HELP. That is the HASAL N200,000 to stock my shop and that Empowerment Loan Product. What I expect the bank to do for money was given to my surprise. It me in the future is to continue to helped me to meet up with some support my business in order to customer demands at that time. They are interested in their enable my business grow from After paying back the N200,000, I customers, in our business. Also, I like where it is now.borrowed N500,000 because my the way they show interest to give out

quipmentName: Madam Ngozi AjehNature of Business: Hairline Products and Salon EquipmentLocation: Nyanya, Abuja

Name: Madam Ngozi AjehNature of Business: Hairline Products and Salon EquipmentLocation: Nyanya, Abuja

What is your name madam? Did you qualify for the loan?

How did you know about HASAL MFB?

What impact has HASAL MFB added to your business?

My name is Ngozi Ajeh. I own a shop where I sell Salon equipment and hair I applied for the products. loan, they did their

verification of my business and sales. I qualified and they gave me a loan of I knew HASAL MFB as far back as N500,000, after I 2010 when I wanted a loan to buy finished paying for goods for my shop. I didn't know who that one, I was to run to or where to go, I could not u p g r a d e d t o even try going to a big bank like 1million naira. It has Zenith. So I was seriously thinking of

where I now sell salon equipment.been easy and getting the money from money good with HASAL microfinance lenders but their interest rate was bank since then. very very high. It was during the time I

needed this money that I saw one I have a lot of expectations from the HASAL staff who told me that the bank, but most importantly I am bank can give me loan for my looking for a day when the bank can business if I qualify. So I opened an HASAL has really touched my help me to buy a shop because I can account with the bank. business. Through the loans I have then be doing business from my received from them, I have been own property.able to open an additional shop

What other expectations do you want from the bank?

21



ccessories

Name: Mr. Okoli Bathlomew

Nature of Business: Phones and Accessories

Location: Wuse Market

Name: Mr. Okoli Bathlomew

Nature of Business: Phones and Accessories

Location: Wuse Market

Sir, we are the team from the M i c r o f i n a n c e S e a r c h l i g h t magazine, and we write on the impact of microfinance on indiv idual businesses. We understand you are a customer of HASAL

Can you please introduce yourself?

How did you get to know about HASAL MFB?

What do you like about HASAL MFB?

How has the bank helped yourWhat other expectations do you

business since 2009?have from the bank going

forward?

Has HASAL MFB loan benefitted your business?

Yes , I bank w i th HASAL microfinance bank.

My name is Okoli Bathlomew Onyebuchi. I have a shop here in Wuse market and I sell phones and phone accessories.

In 2009 when I was looking for a on a show glass in front of other

bank that could support my people's shop in Wuse market to

business, because at that time I Many things. 1) is that they keep renting my own full shop today. So

needed to put money into my their promise. If you qualify for the you can say that before meeting

business for it to stand. I ran into a loan, they will give you. 2) is the HASAL, I was on attachment, now

staff of HASAL Microfinance warm spirit of their staff, they visit I am on my own. I have my own

Bank, the staff marketed me, told your shop, follow up by reminding shop and it is adequately stocked

me a lot of good things about the you of your repayment date so you with goods. Secondly, through the

bank and convinced me that their don't default, and even ask you if profits I made from my sales, I

services will be good to me. That you want to take another loan have been able to complete my

made me to open an account with towards the end of the existing house project in the village. So

HASAL. The staff who marketed loan. Their staff love the job they you see, I am very grateful to

me also briefed me about the do and follow up on their HASAL microfinance bank for the

benefits I stand to get from the customers. Another reason I like improvements they have brought

bank.HASAL MFB is because of the to my life.loan repayment pattern, it is very easy and c lear. A lso the functionality of HASAL's POS as

I started borrowing from HASAL in against the other POS that I have.

2009. The first loan I took from the Each time a customer buys goods I do not have too many bank was N250,000 which I used from me and needs to pay with the

expectations from the bank t o s t o c k u p m y g o o d s . ATM card, HASAL POS never

Subsequently I upgraded my loan because they have already done disappoints, the thing is really very

to N500,000 after a while because much for me. However, I am fast.as I was borrowing and selling, I hoping that the bank can support was making profit and also me to buy my own shop within the expanded my business. I have

next 2-3 years from now. This is borrowed up to 6 times from

Yes of course. The loan has really because cost of renting is very HASAL. Even presently, I am on a

helped my life; I achieved two very expensive and one can really loan facility of N500,000.great things with HASAL'S loan. make enough profit when you First, it gave me the opportunity to

operate from your own shop.move from displaying my goods

22



Name: Stevo Auto Service Enterprise Nigeria Nature of Business: Car ServicingLocation: Kubwa

Sir, when did you start your business?

When did you start your banking relationship with HASAL MFB?

When did you take your first loan from the bank?

What impact has HASAL MFB's loan done to your business?

In the coming future, what do you expect from HASAL MFB Ltd.

I started my business 20 years ago.

I started banking with HASAL MFB in the year 2012 when one of your officers, who later became my account officer, in the person of R e b e c c a K o l a w o l e , w a s constantly coming to my lube-bay to market me to open an account with the bank. I eventually opened an account with the bank and started daily savings.

The first loan I took from the bank was N300,000 in that same 2012 that I opened my account with the bank. Subsequently I borrowed another N500,000 after paying fully for the first one. I borrowed N500,000 three times and always paid back fully. Eventually the bank upgraded my loans to N800,000 and I also eventually borrowed N1,000,000 from the bank which I just finished repaying on 15th of June this year.

The impact of the loan is enormous. For instance, before I borrowed my first loan of N300,000 from the bank in 2012 I was renting the lube-bays of two filling stations, they are Total Filling Station on Arab road Kubwa where I sit as my head office and Total filling Station in Zuba. When I began to borrow N500,000 from the bank, my business started growing and

there is need for expansion, they priorities. I want the bank to afforded me the opportunity to quickly came to my help. I see expand to 3 other locations. These increase my loan amount going HASAL as a bank that is truthfully locations are: Garima Oil & Gas forward because I see more interested in the progress of their Ltd. at Brick City Kubwa, Dodoma

opportunities to grow this my customers, they keep giving ideas Filling Station at Lokogoma and business, secondly I still want the and advice on how you can grow A.A. Butus Filling Station at Apo

better and they are very willing to o p p o s i t e S h o p r i t e , A b u j a bank to install POS in one of my support you. respectively. So I on my part have lube-bay located at Total Filling

been very wise on making good Station by Arab Road, Kubwa, use of the money, on the other Abuja. These are my 2 immediate hand, the bank keeps checking, requests for now, more will come and verifying my business strength

My expectations are much and growth. When I indicate that as we continue.however for now I have 2 major

23




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Using Systems & Processes

to Drive Efficiency

Using Systems & Processes

to Drive Efficiency

Madam, kindly intimate us on the systems HASAL has in place to drive efficient banking operation within the bank?

Are there processes in place for a seamless credit administration within the bank?

Talking about system, the bank has, over time developed a well-defined system that is designed to stand or survive over time. Unlike many microfinance banks, HASAL is not people-dependent. What I mean is that the banks runs efficiently on an existing system, designed to outlive the individuals working here today. So it's a system bui l t for longevi ty, succession planning and effective operation over time. Of course there will be need for reviews as new initiatives, new opportunities, new market chal lenges or situations arise.

For this reason, we keep reviewing our system in line with governance, regulation, laws, the market and trends as well as the changing behavior of the customers.

The essence of this is to ensure pol icies, Customer Service that the institution we have is one charter/policy, HR policy & manual, that will continue into new

generations to come, one that will General resources management In HASAL MFB and with the keep evolving in line with business po l i cy /manua l , Opera t ions

demands. This also enables the supervision of the Board members, manual.organization to run an effective our corporate governance is very structure, where processes are put effective and this has enforced on In fact, every department of the i n p l a c e f o r i m p r o v e d

the bank the need to develop bank has a policy guide for its management.different policies and procedural operations. These manuals outline manuals as it affects every aspect the bank's goals as it is linked with I tell you that with the system of the bank's operation. HASAL HASAL has, any experienced each operation as well as establish has made this a priority from the microfinance practitioner will not the role of the department and its

find it difficult to fit into the bank and onset when the bank was staff members in accomplishing even become productive almost established. Over time, the bank these goals. It also provides for immediately because there is an has developed several policies sanctions for lack of compliance on existing structure and an effective

and standard procedural manuals the part of the department and its system.such as a Credit Guide policy & members.procedure, Internal control

Interview with Mrs. Julie Agi

Group Head, Risk Management HASAL Microfinance Bank Limited.


As you may be aware, loan is a and implementing such decisions pay back. Another effective tool is on time, because one thing is to the Credit Bureaus, we send major activity of microfinance have your system automated while monthly report to the credit Bureau banks, and HASAL is not different. it is entirely another thing for the for update on the credit bureau

Our loan process starts from the system to be well managed. This portal, so there are credit checks field, where our marketing staff sub-sector cannot do without the on customers before lending to profile the customers and bring human beings that will facilitate them.

and drive the systems and them on board. The Credit Guide processes in place. We do not lend to people who have Policy and Procedure Manual is

default loans from other banks, very useful to every loan officer, We have a staff strength of about also the update enables us to because it outlines the processes 230 employees currently, these recover default loans from erring

individual are the ones driving the customers because they cannot step by step, starting from credit processes. Our staff are well access credit in any other bank appl icat ion, down to loan trained in their individual and team until they clear their default report.

disbursement, monitoring and capacities to reduce knowledge- Above all, we do our due diligence,

recovery. gap and improve efficiency and and proper monitoring of our effectiveness as much as render facilities and that has really helped

We also tried to make our forms excellent and easy service to us.very simple and less bulky, customers. especially for micro clients who are

less literate. So with the manual, a The goal is to make Banking easy loan officer can tell the customer for our customers through daily The unique selling point of HASAL every single requirement and

process that will lead him/her to market storms to market locations is our use of technology to drive access the loan. This level of and daily cash collections from financial inclusion and our strong transparency found in our both the loans and savings Brand within the industry.procedures enables the customer customers. We promised as a to make informed decisions on bank to bring banking to the door-time.

steps of our customers, this promise we have always lived up From the inception in 2008 till date, to. We also motivate our staff the Bank has witnessed great through loan commissions and portfolio growth from less than several bonuses, this enhances N10million to over N5bllion with productivity.about 45,000 loan customers

served from our 18 branches in Abuja. So as the bank continues to experience growth, we will also con t i nue t o enhance ou r processes for efficient operation.

The slogan here is “All Hands on Deck”. Default is an industry-wide dilemma but we are doing our best to ensure we keep our PAR in To e n h a n c e o u r b a n k i n g check. Every individual involved in operations, we have invested t h e l o a n p r o c e s s h a s a hugely in technology to automate responsibility to monitor and our credit processes and to reduce recover each loan that is given out. t u r n a r o u n d t i m e i n l o a n So from the account officer, who processing. In the microfinance packages and gives out loan, the industry presently HASAL MFB onus is on him to monitor loan stands very strong, we are among usage, customer behavior, the top 10 in the industry so it is repayment patterns, business giving us real edge over our growth or decline etc. competitors.

A whole lot of processes goes in In the credit department, we have there. In addition, we have two adequate staffing to promote loan recovery teams that have the efficiency and turnaround time so responsibility to go after erring that asides the automation, there customers and encourage them to are also people taking decisions

What is HASAL's unique selling point?

We understand loan default is a problem in the banking industry, what is HASAL doing to curtail this?

What has HASAL done or is doing to improve on efficiency?


Interview

Our entire strategy is

driven through our

three (3) levers of

competition which are

People, Service and

Technology. Our

business success has

been built on these

values and it is upon

them that we set our

goals and objectives.

FACTS

To People at the Grassroots Who Have Not Been Banked

you are considering becoming one of our customers, please feel at home, we will definitely meet your financial

needs without delay. We are a bank that caters for the masses, especially people of micro-financial status. They are our focus and we go the extra mile, even bending backwards to satisfy them. That is our business essence. At HASAL we promote financial inclusion and the growth of MSMEs, so HASAL is their home and base. Do not shy away from your real and true home.

If

27

you have been struggling to make it in life and your challenge has been where to find support, where your life is best

touched and where your value in life will be created, if you need a place where you will be given recognition, a place where people will treat you with dignity? Look no further, at HASAL Microfinance Bank we touch your life for good and we start by bringing you as part of us, we identify your real needs in order to move you to the next level in life. We think that what you need out there is value, value for life and for the quality of living. At HASAL, we work hard to create that value and that is our promise to you.

If

ASAL MFB is providing an opportunity for the lower cadre of the society to have access to financial services and

funding that will help them grow. In HASAL MFB, we don't make oyinbo for you at all, we may be wearing suit but we will speak to you in a language you understand. We will not only lend you the money, but also teach you how not to use the money, and how to use the money to grow bigger. You are welcome to come to us, and since good news travel fast, also tell your friends about us and your e x p e r i e n c e w i t h H A S A L .

H


e have built a very strong and peculiar customer mix in HASAL of both the low and medium income

enterprises and individual customers, so you will definitely find your financial needs level here in HASAL. Excitingly, we have established an organization based on integrity, what we say to you is what you will get, we don't work behind the scenes, in terms of interest rate or service delivery we can be trusted to deliver on our commitments. You can be rest assured that you can trust the bank. At HASAL, we keep to our promise.

W

28

To People at the Grassroots Who Have Not Been Banked

can relate with the plight of women entrepreneurs, especial ly those struggling to build up their family, the

typical market woman whose daily hustles are to create a better and more secured future for her children. At HASAL, we will continue to help the market woman, the hairdresser, and the artisans. Our mission is to enable them grow and that is why HASAL is here. You should consider HASAL because we are very reliable, HASAL has never failed its customers and we will continue to ensure we do not fail our customers provided they have a genuine business case.

I

or anyone looking for a microfinance to bank with, your best choice is HASAL MFB this is attributed to the fact that all our customers can also

testify to that and we have many more things that we are going to bring on board that will make our customers a lot happier. With HASAL MFB you are sure of the safety of your investment and also the fact that your investment will grow.

F


What Next? HASAL of the Future

adam, could you take us Mthrough the strategies that have taken HASAL this far?

Having reached this milestone, what are your projections for the next 10 years?

diversity of products to fit the already existing landed property in needs of different customer types. a rural area. With that, he has built

a shelter for himself and his family. These kind of utility products and In offering a product or service, we more is what we will focus on for It is God almighty that has led understand that all customers are the future. HASAL this far because from day not the same, there are some

one, the foundation has been right clients who want loans and there and the founders of the institution are some who just want to save The government is laying much knew where they were headed. their money. Others may want to emphasis on agriculture, and this The bank aligns with the vision and run a current account or a savings sector we will also align with to mission which is to create account and there are some who serve small farmers. From as far products that will suit customers' just want to open account with you back as 2010, we ventured into needs. So from the onset, the because you have a responsive agric-finance, providing financial vision was right, we set out to have banking App that facilitates services to many farmers in the the r igh t k ind o f peop le , convenient transactions such as rural areas that don't have access established the right system with easy funds transfers, bi l ls to funds. So part of the projection appropriate processes. That is payment, lifestyle management is to ensure that poor farmers are what has led us so far. etc. also brought on board.

At HASAL, we keep innovating to As we expand our operation and increase our customer base, we develop products that attract our

clientele and we will continue to will also strive to increase our It is a fact that in this kind of make the best use of technology to share capital base from where it is business 10 years is so far off ensure there is nothing our clients now (that is N2billion) to about because the industry keeps will miss from a commercial bank. N5billion in the next 5 years. These changing, so I will rather look at the For instance, in 2017, HASAL are just a few of our projections for next 5 years because you can developed our actually make plans for the next 10 H o u s i n g years only to see the dynamics of f i n a n c e business changing within 2 or 3 p r o d u c t t o years. As it is now, HASAL is a enable people state MFB but we expect to a f fo rd the i r become a national bank in a short own homes at time, because we have met the the cheapest N2billion capital base requirement possible rates of the CBN and have also applied with HASAL. for the license. So that is one of our immediate goals. If that is The housing achieved, we will be able to p r o d u c t i s expand our operations to other r e a l l y s o states in Nigeria. e x c i t i n g t o

c u s t o m e r s We also project to increase our because even customer base from where it is a c o m m o n now and provide different kinds of man who was microfinance products. To this not able to effect, the aim is to reach to people afford a roof in rural areas because from the over his head report of EFInA survey of 2016, can actually 40.1 mi l l ion people which c o m e t o constitutes 41.6% of adult H A S A L , population in Nigeria are still access about unbanked, so there is still a market N500,000 and that is really under-tapped. The u t i l i z e t h e opportunities to create that market f u n d s i n t o is available. So there will be developing an

Interview with Mrs. Joyce Rogers-Nwoke Chief Operating Officer, HASAL Microfinance Bank Ltd.


Mrs. Joyce Rogers-Nwoke Chief Operating Officer, HASAL Microfinance Bank Ltd.

the nearest future. expansion plans progressively. opportunities that a commercial Expansion is not something to bank provides for the big man.attempt bullishly, else you might get the organization hurt along the way. We believe growth should be

One of the strategies is to use taken gradually and in stages. For The difference is found in our technology to drive expansion instance, since we are presently vision statement “to build a unique and service delivery. The finance in Abuja, our next locations will m i c r o f i n a n c e s e r v i c e s industry is moving forward and probably be nearby states around organization” so the word is there are lots of products and Abuja such as Niger, Nasarawa, “unique”. Unique in the way we services automation happening Kogi, Benue etc. offer our products & services and now in the industry, I think even in the way we treat our customers. microfinance customers are tired The strategy will be to identify the The processes in HASAL is of analog banking and are new terrains or states we want to smooth, such that one can apply becoming more demanding. expand to, the par t icu lar for a loan and having met all Presently in HASAL, we have businesses we want to focus on or requirements, can get it within 5 different e-channels we use in the kind of products we want to days. providing services, for instance sell in those areas depending on the USSD code banking that the market. After capturing those Our word is our bond, we have enables customers to perform markets, we can then start looking heard customers complain that in certain transactions at their at what business is available in some other institutions you have convenient environment. the South-South, so that is how charges that are hidden but in

we plan to grow. Expansion will be HASAL we have no hidden HASAL was the first institution to driven strategically. charges. In HASAL, we vow to change what people know as a hold onto this transparency and POS to a POC, which we used to integrity as we move into the drive savings mobilization in sub- future.urban and rural areas. In such cases, customers receive The essence of HASAL is to transaction alerts immediately. provide equal opportunities for

economic growth to the active Apparently, competi t ion in poor individual. The small trader provision of financial services is who needs as little as a N20,000 becoming stiff, think about the or a N10,000 but who has been Fintech companies, who are financially excluded by the providing loans within 24 hours commercial banks can actually using automated systems, so we turn to a microfinance bank to are aware of the changes in the bridge that gap. So our essence is industry and so we are warming to facilitate financial growth at the u p t o r e s p o n d t o t h e s e micro and small levels. In the last c o m p e t i t i o n w i t h i n t h e ten years we have seen how our microfinance market. Hence, for c u s t o m e r s h a v e g r o w n . us, we are looking at digital Customers who could access finance and the opportunities it loans of N50,000 have grown over creates for our industry. time and can now access up to

N1million.

There has been growth not only Our growth and expansion plans on the part of the bank itself, but are already being strategically mostly for customers, who have worked out. As I said earlier, grown from micro to small and HASAL is a state bank for now, but now to medium scale businesses. by the time we have a national S o t h e e s s e n c e o f t h e license, we can then begin to microfinance sector is to avail the e x e c u t e o u r g r o w t h a n d common man the financial

What are the strategies the bank intends to employ to reach these Why is HASAL different from other projections? microfinance banks?

What is the essence of HASAL Microfinance Bank to the common Nigerian?

So what are the Bank's growth and expansion plans?


Interview

With 10 years' experience

offering financial services

focused at Micro,

Small & Medium Enterprises,

HASAL has become one

of the strongest entities in

Nigeria within the microfinance

sub-sector in driving financial

inclusion and access,

MSME growth as well as

enterprise development

and employment creation.

FACTS

Strategies for Sustainable Operations

O

People

invest on our people through different from commercial ur strategy is woven quality manpower recruitment, banking. We understood that around 3 major levers of talent management and learning. these ex -emp loyees o f compet i t ion, People,

commercial banks did not Technology and Service. Our So we invested in people and we possess the sk i l l s and number 1 strategy is people, we are still investing in people, I competences needed in the believe that every strategy you probably don't know any institution microfinance sub-sector. So, have, every process you create, of our level that has spent as much we set out to attract and anything you do is dependent on as we have in training, we have up develop our own talents. 10 people.to the middle level employees all years down the line, that c e r t i f i e d m i c r o f i n a n c e strategy has yielded results,

practitioners, so we invest a lot in HASAL today is like a pool for Our levers of competition are first, people. q u a l i f i e d m i c r o f i n a n c e emphasizing on the right people

practitioners.and developing a strong and To attract the right kind of people competent workforce that meets capable of development, the bank Practically, we had to set up our in te rna t iona l s tandard fo r had to focus on the brand. Strong own training institution as far microfinance practice. Today, brand is known to attract the right back as 2010. With the birth of financial products and services are kind of talents. Bearing in mind that H A S A L I n s t i t u t e f o r practically the same in so many 10 years ago there were no Microfinance Studies (HIMS institutions, so what makes the q u a l i f i e d e x p e r i e n c e i n Academy) in 2010, we started difference is actually the people. At microfinance practice, everybody HASAL, we believe that what will developing capacity based on was new and was learning how to identified critical in-house make a difference between one climb the ropes even though there institution and the other is in its knowledge gaps and business were a lot of bankers on the street culture. If it's a culture of needs. In less than two years of following the 2005 consolidation of performance it will drive down into operat ion, the academy commercial banks which brought the performance of the institution, if became accredited by the about retrenchment of many it's a culture of professionalism it Center for Management employees of the banking sector, will cascade down as well, hence Development (CMD) and but microfinance is entirely from the onset, we saw a need to affiliated with the International

31

By The Managing Director/CEO, Mr. Rogers A. I. Nwoke


p e o p l e f o r c a p a c i t y development because we recognized that it is the quality of 'people' that changes everything.

We also have the best incentives and remuneration packages in our sector b e c a u s e , e v e n a f t e r development of your human capital, you need to retain your best people continuously and

Federa t ion o f Tra in ing &

Development Organizat ion

(IFTDO) and the Academy of

German Cooperatives (ADG).

HIMS Academy was initially

focused on meeting the needs of

our people through intense

t r a i n i n g s o n s u s t a i n a b l e

microfinance operation, we

however, developed a curriculum

that also incorporated offshore

trainings and exposure visits to

more matured microfinance

climes such as India, Germany,

Kenya and Canada. The essence

was to learn from the experienced

regions how to develop and Many of our employees are one of the proven most manage a self-sufficient and certified not just from the local successful tool for retention is s u s t a i n a b l e i n s t i t u t i o n , CIBN, but we have graduates of in incentives, rewards and a considering the fact that the the Frankfurt School of Finance & good remuneration.

industry was pretty new in Nigeria Management. So we have taken as at that time. learning as a very serious

component of our human capacity Technology is another strong M o r e t h a n 8 0 % o f t h e development. lever of competition that formed management team today must part of our strategy for building have joined the bank within the These efforts have not only competitive advantage. As first two years of our starting and enabled the bank meet its training early as 2008/2009 we went to

InterSwitch because we have developed over time. Many needs, but we also extended the believed that digital financial have been sent for offshore services to other microfinance service is key, we believed that training in advanced microfinance banks as well as NAMB in an effort technology will change the climes. Our collaboration with to build sustainable operation landscape fo r f i nanc ia l AFOS foundation over the last 2 across the industry. So when we services. Hence we decided years has even made it a lot started, we built a culture of from the onset that technology easier for us to bring these learning, which of course forms must make an impact in our management and institutional part of HASAL's core values as a business.

development trainings home. framework for investing in our

Technology


When in 2009 HASAL decided we this service to our colleagues mobilization. Hence HASAL were ready to start making consider ing the fact that became the first microfinance

bank in Nigeria to initiate investments in technology, we technology was a big issue automated savings mobilization. were faced with many options among other MFBs as it relates to

which did not meet our objective, size of the institute and the cost of so we focused on finding that investing in adequate technology. We then started the issuing of

merchant POS to our customers banking application that could Hence we decided to sign a bulk endure the test of time, enable us license agreement with the to drive cashless payments.

These innovative moves won the to independently provide financial vendor. And so we started selling bank “The Most Innovative services to our esteemed clients orbit to other MFBs at an Microfinance Bank” in 2013 and without riding on the back of any extremely reduced price than “1st Position in Growth in Card other financial institution. We they would get should they buy Issuance & Activation amongwere also focused on security of directly from the vendor. MFBs & PMIs” clients' information so as to build

credibility, trust and efficiency. This move was to ensure that the Our huge investment in IT during issue of inadequate technology in the early days of the bank gave Hence we settled for Orbit the industry was eliminated, room to offer a variety of services because we discovered this was because since 'no man can be an to our customers such as Auto-a n a p p l i c a t i o n u s e d island' we also wanted other pay which we eventually renamed

internationally by reputable and MFBs to provide seamless HASAL PIAM to create that huge institutions such as Equity service in the environments product differentiation and Mobile bank, Microfinance bank of where they operate. For us, we payments. One customer that Tanzania etc. due to its capacity see our vision as being connected experienced our auto pay for the

first time said “the thing just went especially as it relates to the to the industry, so it's about like that, piam” that statement business we had set out to do. making microfinance work, not prompted a rebranding, so we Beyond using the Orbit banking just about HASAL as an institute.renamed the product as HASAL application for just the bank, we PiaM (Pay in a Minute). Our also thought that we could extend We didn't stop there, we Mobile payments came with a

also decided to invest in mobile APP with which you can automated payments and make transfers, pay bills, check branchless banking, so your balance and buy air time. that our customers can access cash from any Today we have upgraded this part of the country and service to USSD. With our USSD through any financial code banking, you can make any institution as well as to of these transactions from your use technology to drive mobile phone without necessarily savings collection. This downloading the App. led to our being the 1st Microfinance Bank to be The drive to take up this huge c o n n e c t e d o n t h e investment was to ensure our I n t e r S w i t c h B o a r d . micro clients and SMEs in T h r o u g h t h i s

particular enjoyed almost the c o l l a b o r a t i o n w i t h

same kind of service they would In terSwi tch , HASAL derive from any commercial bank. started issuing Debit We saw technology as a tool with C a r d s t o a l l o u r which we can scale most of the customers, using FCMB impediments faced by the as our settlement bank. microfinance industry which This gave our customers hindered breath of outreach. So additional service – the when in 2010 we started issuing ability to make cashless debit cards as a microfinance transactions, as well as bank, people probably didn't access to cash from every

location where we had no understand where we were going physical presence. and today HASAL is doing

everything that any bank can do The collaboration with InterSwitch also brought with electronic banking, you can to birth the use of POC receive money direct into your machines to drive savings account, you can transfer out and


the HASAL app is being mobilization in rural and developed right now. sub-urban communities. 10

y e a r s a g o , e v e r y microfinance bank was

Our entire strategy framework is concentrating on trade and to brilliantly have the right and commerce but in a bid to adequately developed people achieve depth, coverage using technology to render and effective presence in excellent service because we rural communities, we be l ieve what makes the wanted something different difference between one bank so we created an Agric-and the other is service quality. finance department to focus O n e w a y t h a t s e e m e d o n t h e g r o w t h a n d appropriate to deliver service sustenance of small farmers w a s t h r o u g h p r o d u c t as well as agro-allied differentiation. Yes it is true that businesses. Even though it the products are similar within was a tough route back the industry, but we set out to go then, HASAL is still pushing an extra mile to provide that hard on agric sector given excellent service that will create the renewed interest on impact on the lives of our agriculture demonstrated by customers. So one of the very this present administration. first products we developed is the HASAL daily contribution The bank has also, over the

We deliver superior financial called HASUSU. last 3 years been concentrating performance while maintaining on Housing finance to support

This is similar to the traditional social impact. At some point, low income individuals with Ajoo, Esusu or Akawo but which a c c e s s t o s h e l t e r a n d about 3 years ago we created we decided to institutionalize comfortable accommodation. the consumer protection and making use of POC machines The bank is also working along social performance department and uniformed accountable with the “My House” scheme” of to track our progress in off icers to dr ive savings the Central Bank of Nigeria. achieving impact. Although

HASAL is still a state licensed When we started in 2008, our m i c r o f i n a n c e b a n k , o u r objective was to become a application for the national national local microfinance license is in CBN and it is our bank, a neighborhood bank prayer that the National license that takes care of nearly will be approved. If that happens, every financial services need

we can categorically affirm that of its community, and that

we have steadily moved within was why we spread quickly in

the planned strategic route.Abuja with 22 branches within the first 5 years to ensure our presence in every area council so as to meet the needs of these communities. W e h a v e o v e r t i m e developed several products and service lines to meet the market needs. Our products are tailored to meet the changes in the environment which we serve.

Service


Micro-Housing Training

Sir, Could you please explain what is the 'Bottom of Pyramid' Scheme?

We understand you also work with MFBs, what role can Microfinance Banks play in this scheme?

What has been your

experience given the level

of customers the MFBs

work with?

Who are your target market?

What are the cr i ter ia

required from an MFB before they

can apply for this scheme?

Who is this scheme targeted at and what results do you intend to achieve?

Which MFBs have you collaborated with? Is there a limit to the number you can work with?

out to them through microfinance No there is no limit to the number of banks. Microfinance banks we can work

The bottom of pyramid scheme is a with, but there are criteria. Hence platform for credit delivery for the we are looking at their viability as a under banked, and financially bank before we can adopt them. underserved individuals using That is what matters, the bank microfinance banks and other The role of microfinance banks is

must be well capitalized and doing financial institutions as a medium. So enormous under the BoP scheme, it

a p p r o p r i a t e m i c r o f i n a n c e what the Bank of Industry does cannot be over emphasized. We are

business. Presently we have essentially is to partner with financial working with quite a number of the worked with many of them, such as institutions such as microfinance MFBs because the Bank of Industry

LAPO, NPF, Fortis, HASAL, banks to reach the financial Mainstreet, Addosser. needs of these people There is because we understand that

there at the base, there is a a l s o O g b e , B o s a k , lot of economic activities Rehoboth, Finatrust, First going on but they don't mutual etc. So you can see always. that we are open to work

with as many partners as Th i s co l l abo ra t i on i s

possible because the essential because these market they are serving is f i n a n c i a l i n s t i t u t i o n s quite large.understand this market, they

know these people and we know that microfinance banks and other banks have mastered the confidences of their clients. So we partner with them to reach out to them through the Bottom of The experience has been Pyramid Scheme. wonderful, it has been

awesome, we don't have

any bad experience, it's Our ta rge t marke t i s been worthwhile, it's been Microfinance banks and

other licensed institutions impacting, it has been because we do not deal satisfying for BOI and that directly with the people at the is the truth.base, hence we partner with these inst i tut ions who already has the market, the cl ients base, the relationship

have seen that these institutions management and market expertise to

understand the market, they know reach out to the final beneficiaries, that We have what we call a checklist, what their clients can do because they is those at the bottom of the economic and that checklist is quite a lot, we have been with them for a while, pyramid.

will request for your 3 years having groomed them over time, they understand their behavior and it audited financials. It is from that makes sense for BOI to partner with documents that we can determine MFBs. The skills and competence your capital adequacy and viability. The BoP scheme of the Bank of needed to drive this market is Of course we will ensure there will Industry is meant for the economically possessed by these MFBs, hence it be a camel framework, it is very active poor, the artisans, the youths, only makes sense that we establish important for us before we select the young entrepreneurs. These are the linkages through the microfinance

the people that are our target because any MFB that comes our way that banks.

they have ideas but they dodo not w e e n s u r e w e d o c a m e l have the funding to bring these ideas framework. The capital adequacy or dreams to live. Unfortunately, the must be up to what the central commercial banks don't really provide bank of Nigeria requires of them, the financing they require, so we reach

Driving Institutional Strength through Collaborations

35

INTERVIEW with Mr. Azuka E. Okofu

Group Head, Bottom of Pyramid-


About Bank of Industry

The mission of the Bank of Industry is to transform Nigeria’s industrial sector by providing financial and business support services to enterprises. This includes micro, small, medium and large enterprises.

The Bottom of Pyramid (BOP) Scheme

The BOP Scheme is an on -lending Scheme of the BOI using the services of Microfinance Banks (MFBs) as vehicle for credit delivery to the under -served and under-banked micro-entrepreneurs. From the time all documents are received from the MFB, it takes an average 4 -6 weeks to receive an offer from BOI and 1 week for disbursement if the MFB meets all the conditions precedent for draw down.

Criteria for Accessing BOP Loans

1. Minimum of 10% Capital Adequacy Ratio

2. Non-Performing Loan Ratio of not more than 10%

3. Liquidity ratio of 20% minimum

4.

Ratio of shareholders fund unimpaired by losses to net credits of not more than 1:10

5.

Year of commencement of operation of not less than 3 years

6.

Microcredit to other loans ratio of minimum 80:20

7.

Security –

Bank Guarantee, Treasury Bills or Legal Mortgage

BOP Loan Scheme at a Glance ‡ 12% all inclusive interest rates ‡ 3 years loan tenure ‡ 6 months moratorium ‡ Quarterly principal and interest repayments ‡ Available to MFBs and other acceptable participating financial

institutions (PFI) in all 6 Geo-Political Zones in the Country

Bottom of Pyramid Scheme

36

Interview


we will also look at the asset quality. handshake to ensure that the output of m a r k e t , m o r e s o , t h e i r company-A which is also an input for management structure is fantastic. The NPL must not be more than 5% company-X exists to enable them make The managing director has also though we understand the industry so business progress and succeed. been excellent in his approach to sometimes we may consider

the business and that makes us institutions with 10% NPL. more confident, so I believe the relationship can always get better.Good question. The answer is an We also look at the management of Is there any other thing you will like emphatic Yes! Because the Bank of the MFB to ascertain how qualified to give as a note of advice? Industry is a Development Finance and how experienced they are

Institution, our rates cannot be the I will like to urge HASAL to continue because this should reflect on how same rate of commercial banks and we the advocacy they are driving efficient and effective they are in also don't want them to give out this within the microfinance sub-sector, managing the bank before we add money at very expensive rates to the the role they play in NAMB. more resources to them. Another final beneficiaries. So when we give out

Generally I will like to advise them thing BoI considers is earnings, how loans to Microfinance Banks to on-lend, to go for the national license so we do place a limit. We do this because profitable has the Microfinance Bank they can play nationally.BoI is concerned about those at the been in past years, which is very

base of the pyramid so we do specify a important because it is an indication rate cap based on the rate they are of their sustainability. We look at the receiving these funds from the Bank of

bank's liquidity in line with statutory Industry, and its reasonable because

requirements, for MFBs it is 20%. So they will still make a spread. overall we ensure that before we The microfinance sub-sector is partner with any MFB and bring them going through a transformation at The Bank of Industry's Bottom of on board they satisfy the camel Pyramid loans is an impact product, this stage, so our advice is to those

hence it must reach the final beneficiary framework. managing these institutions. They at a rate that will enable it make an

should ensure that they make them impact on their business and their lives more profitable, more viable and in general. For the limit, you were t h e n e n t r e n c h c o r p o r a t e asking what is the minimum or

maximum amount the MFB can on- governance so that these Application is free for all, however we lend, you see, for every loan that is a institutions will remain adequate have standards and criteria. So from microloan there is a lower boundary the application we decide who gets and can stand the test of time. and there is an upper boundary. the loan, based on our terms and However, the Microfinance banks' conditions. The banks that meet the There was a time when CBN lending is regulated, there is the single terms and condition will get the offer obligor limit which is 1% of the bank's c l a m p e d d o w n s e v e r a l letter but if you don't meet we also let shareholders fund undeterred by microfinance banks because of you know, we discuss more with you losses to a single individual and 5% to a explaining the reasons why we were various practices, it is our group, which is fine with the BoI. not able to proceed with your request. expectations and prayers that we

We provide advice as to what the don't face that phase again. MFB needs to do in order to qualify in

Because many microfinance the nearest future. We advise them on banks are not viable, so there is an what to put in place and encourage option of merging in order to stay in them to apply again within one year or HASAL is on its second cycle with BOI

6 months when these requirements and it has been mutually beneficial the market and continue to provide have been met. since we commenced the relationship. services to the poor, who so hope

HASAL is also very important in BOI in and depend on these institutions. It the sense that in Abuja we have just will be advisable to merge now, if about 2 or 3 very good microfinance BOI is a DFI – Development Finance that is a promising option, so that it banks and HASAL happens to be one Institution. BOI's mandate is to won't be the regulator that are of them and our current partner. So we industrialize Nigeria. In plain content compelling them to merge. are leveraging on HASAL to reach out what we do here basically is support

Operators should actually decide SMEs, finance equipment, expand to FCT and its environs. on their own volitions and merge so existing businesses, modernize they can have a stronger businesses, br ing in modern We also see a possibility of taking the

equipment and even drive an entire Microfinance bank and the public relationship further within this year to value chain. We create a chain can have more confidence and see what we can achieve. I am sure that whereby a linkage can be created

trust in the subsector.everything that BOI wants to do here in between the supplier and off takers. Abuja will always involve HASAL We will manage such relationships because the bank has been a because such chains promote both

our big customers and our small wonderful partner. We understand and customers. We encourage that appreciate their deep knowledge of the

Do you give a limit to the rate or amount MFBs can lend out?

What message would you pass

across to the microfinance

subsector?

Sir, how does BoI select the MFBs to work with, do you select MFBs or do MFBs apply for the partnership?

Sir, do you mind sharing your experience with HASAL Microfinance Bank?

What are the key objectives of the BOI towards economic development?

Thank you very much sir, thank you

for your time we really appreciate.

37

Interview


Basically who is AFOS and what doesAFOS represent?

Why do you think that capacity building is the best way to reduce poverty and then why Microfinance Institutions?

Why does AFOS focus on the

management team of these

microfinance institutions you have

worked with.

We thought that the commercial in terms of business with these banking industry in Nigeria already small economic players. So we

AFOS is an NGO that was founded had their capacity developed and know that if we could train staff of by entrepreneurs in Germany with CBN's focus was more on the Microfinance Institutions to an objective to eventually reduce grassroots as well. Since this is in line e f f e c t i v e l y s u p p o r t s m a l l poverty in developing countries. with the AFOS focus, we decided that businesses better, then ultimately Ultimately that is the goal. How is capacity building for organizational those efficiencies will come out that achieved? One of the major and management development is the leading to likely reduction in ways is to partner with institutions best package for the sub-sector at the interest rates, access to funding that work closest with the less moment, because we understand for bus inesses and smal l privileged and people at the there is an issue with Microfinance, businesses will understand grassroots. many people don't understand the financial system works. On the

business, so there is an obvious longer term, poverty will reduce. That is why we are here, we work in knowledge gap which has culminated the Philippines, the main office is in into many failures. Also, working with Microfinance Germany but in Nigeria right now, banks enables these institutions to we have worked in Lagos and position themselves to provide across the country because we business and financial advisory work closely with regulatory bodies services to the customers, that is, such as CBN, NDIC etc. We met the MSMEs they support. with these bodies before we came There are different segments to what to Nigeria to see where the needs we do, one is to work with institutions are and part of the outcome of the that work with the poor or the less interaction was to come up with privileged and the second leg is to capacity development which is work with the economically active what we are focused on. poor, so you must be in some sort of One of the things we noticed when

business. Entrepreneurship is one of we came to Nigeria is the gap in We don't give grants because we the cores of what we do. Capacity skill for microfinance space, so think that the best way to achieve development reduces poverty we thought to come in to las t ing impact is capac i ty b e c a u s e w h e n p e o p l e a r e microfinance, build the capacity of development. In talking to the economically active, it is best to teach management because we are Central Bank of Nigeria and other them how to take their business to the thinking systems. We also industry players when we first next level. We work very closely with p r o m o t e o r g a n i z a t i o n a l came, we jointly identified the farmers to help them improve their development, we thought if we biggest players/leaders in the practice such that they can make could train managers to build Microfinance space in Nigeria and money from what they are doing. systems, then the output of that then we developed a program organization becomes better,

which in effect cascades down to jointly based on the needs of the In the same vain, microfinance banks sector. form the linkages we need to reach their customers- people at the

the active poor. MFBs are the closest bottom of the economic pyramid.

how the

Interview with Ms. Funmilayo Akinwande, Projects Coordinator, AFOS Foundation, Nigeria.

AFOS Foundation - Organizational and Management Development


AFOS Team, Nigeria

Hence, because AFOS is very Yes. So like the components of what and reflect on how the business is particular about systems and long we do, we do long term trainings. In being done comparing what is term sustainable organizations, we HASAL for instance, we have been going on in the industry in order to

get better. So I will say we usually therefore focus on developing the there for about two years. We have introduce and fortify that spirit or capacity of the management team of been doing consistent capacity that mindset of learning and the institutions we work with. development for a stream of i n t e r n a l r e v i e w s i n t h e Management could pass on the management staff which we call organizations we work with. learning and the skills to their talent pool and trainees which are

subordinates within the system. n e w s t a f f s . W e p r o m o t e For those who don't have it at all, organizational development, where we create it over time, and for Although our program focuses on we bring management team and ask those who are already doing that management, we also deliberately what do you think the problems are or as a practice, AFOS helps fortify carry trainees along so we try to cut where are the issues, and how can it t h e p r o c e s s . W e h e l p across the organization and staff get better in terms of people, organizations to understand that level. systems, policies and processes. learning is a critical part of running a business and staying For management specifically, our Our relationship is long term, we don't on top of competition.goal is to (1) train them on best do trainings or intervention or

practice at their level in microfinance workshop and then leave, so we have across the world so that they are up done organization development to date, (2) provide insight/advisory workshop in HASAL once and we are

We signed the contract on 29th on how they can get better at their doing another one early next year and July 2016business operations in order to grow there will be another one after that. It

their banks sustainably with the is consistent from our own part but ultimate objective of supporting one of the key things we try to

Training programmes, capacity small businesses who depend on incorporate in every organization we development, organizat ion them for funding. Organizational have worked with is for them to build a development and projects. development means they need to system that is sustainable. Hence when there are critical have the right policies, right system, projects within the system, we are and right organization setup in order In such cases, their process should part of that process to ensure that to move the business to the next demand that they engage in it comes to completion or that it level. management retreat at least once or succeeds. twice annually. The essence is to

have strategy sessions where HASAL is one of our major management team can look at the players asides from their being We try to work with organizations industry, examine how they have leaders in the industry. We also such that the activities of the been doing the business, what has work with other big players and organization is not dependent on changed internationally and how the we facilitate learning platforms individuals but on structures that are organization can get better. where the microfinance banks sustainable and will last over time so c o m e t o g e t h e r t o s h a r e that individuals can come and go but W e a r e d e l i b e r a t e a b o u t experiences. There are other the system remains. Through our understanding what is going on in the things we do asides training staff, industry, to build a learning culture intervention program, AFOS tries to we also train HASAL's customers within organizations that we work with support these organizations to build especially now that we are such that later the Human Resource systems that will last. This means involved in Agriculture, so the department will consistently identify that there are policies in place, there farmers that bank with HASAL best practices alongside their are processes that guides the and other farmers that are management team. One thing AFOS people. On the long run, such potential clients of HASAL can have tried to leave with them is that organizations remain consistent, benefit from our intervention. hunger for being the best and for promoting standardization across

excellence. the branches. This especially aids a We trained them for a duration of smooth succession planning for 4 weeks so the farmer gets better It should be part of the system by now such institutions.in practice and in the way they do and I believe that in my interactions business so that the loan that wi th HASAL team, they are HASAL gives the farmers will be continuously stepping back to review

When did you start working with HASAL?

So what are you doing in HASAL?

What exactly do you mean when you said AFOS is interested in system?

Do you also incorporate Systems Improvement in your engagement?

39

Interview


more effective, loan officers are done, we think HASAL is very interactions with the bank, we deliberate about sustainability, about have recommended for a review thought how to provide support for succession planning and clear of certain policies and it has small businesses.definition of roles which is critical for worked. We also consider the long term sustainability of any HASAL as a thinking and organization. Also, what we met is a reflective organization because bank which has continuous learning consistently we see that things as part of its corporate culture, so our are changing for the better. It is work here became even easier since not the same policies that were in we didn't need to imbibe a non- place two years ago that We have worked with many banks existent culture, rather to fortify what is currently exist, so different things so the first thing I will say is HASAL is already in existence. have been changed, for example one of the industry leaders in terms

the performance appraisal of innovation. So generally in its For policies and processes, I can say system has been reviewed to structure, in its system, innovation that every time we have interacted become a bit more robust and and professionalism of its people, with HASAL, it's very clear who is effective.HASAL stands out. From my responsible for what. So it tells us that experience with the bank over the the system is well defined and well past 2 years, I can say that the structured. For policies, we have people of HASAL are very reviewed as part of our works some of e know that professional and always tries to the policy that the organization and so If I maintain their culture so that operates with and we find them best want to advice HASAL it will be to everything goes right. The system and good practice. keep doing what they do better.and the structure we will really rate

high. Over the past two years we have had Based on the workshop we have

Having worked with HASAL for about 2 years now, how will you rate the bank in terms of system, structure, processes, policy and people?

Ms. Funmi, what are your parting words of advice for the bank?W HASAL is innovative professional

40

Interview



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BAA CONSULT –

Capacity Building & Succession Planning

When did you start consulting for

HASAL?

Having worked with the bank and still consulting for them, how will you rate HASAL in terms of structure, systems, processes a n d p o l i c y b e c a u s e w e understand that these are very key in sustainability?

Talking about the capacity building

training that you did for the bank, in So the trainings were not primarily

which particular area did you focus focused on the people but you were

on and why were those areas also looking at transcending the

important for the bank at this point in current leadership and people?

time?

of them were selected by HASAL for the values and the culture of the

our firm to deliver to the staff of the organization to, while at the same

We started consulting for HASAL 2 bank and this covered business time meeting the needs of

years ago, and that started on the planning, business strategic gain customers.

back of a program that one of the which was in two parts, one is

international NGOs, AFOS a Development Business Strategy and The idea then is to look at the

development partner did for HASAL the other is Online Real-time business on one hand, then

at the time on capacity building and Stimulation that enables you to develop the individual such that

also training of the staffs. We compete with people undergoing the even beyond HASAL they will still

handled the training of the staff and same course in leading business be able to do some very useful

been partners of AFOS we are schools all around the world. things for themselves wherever

equally a part of whatever advisory they find themselves. So while

services they render with respect to Quite interesting for us is the outcome working here, they are developed

capacity building. of that which I really find quite to build a brand and also make

exciting. The team from HASAL did the brand sustainable and at the

A number of the staff of the bank very well after an evaluation across same time build themselves

were part of the training that we the entire industry of those that have p r o f e s s i o n a l l y t o u p h o l d

delivered with about 5 different undergone the course . The themselves anywhere they go in

modules covering different aspect or performance of the HASAL team the world.

areas of need to either enhance or competed seriously with even teams

build capacity that do not exist. What outside Nigeria because this is a

we found in that experience is that course we have delivered in Dubai.

the bank has quality staff, whom I will

say are trainable and very receptive We also conducted some soft skills

to new ideas. Having done this for so training for the team as well but

many years and across several ultimately the goal is to look at the

institutions it was quite an engaging bank in the next 10 or 15 years This is very important for plan that we had in HASAL and it was because the leadership we have at enterprise growth because an

organization's sustainability can quite interesting. We also consult for the bank right now may not be the be measured in a tripod where HASAL in the area of human ones leading the bank at that time. you talk about the Strategy, the

resources, recently we handled 2 Hence, part of the big plan is to make Systems and the People.

assignments for the bank in the area HASAL evolve into a sustainable

o f recru i tment and a lso in institution. Systems can be broken down into critical pieces which are the succession planning which of course policies then the procedures that has now become an issue across the We think the focus is sustainability deals with the processes and microfinance industry. and that was the entire essence of then we have what we call the

those trainings conceptually.practices. In this case those pieces must also line up together, you need them to be properly designed and also align such that they can deliver the strategy of the organization.

The idea is that teams come and go, Having dealt with Systems, you

This concept was developed by but the organization needs to be now need the right people that AFOS that is the development renewed. Therefore if you look at the can work those systems to deliver partner of HASAL for the industry current set of leaders, there will be the strategy. So based on the

above analysis, and considering and then they selected strategic need for them to hand over to some w h a t I h a v e s e e n a n d partners of which HASAL happens to people at some point and even those experienced in HASAL so far, I

be one of them, now there is a range ones will hand over to others at see an institution that is not only

of 12 training programs that we another point, there will always be committed to strategy but developed for AFOS when they people behind each set of leaders that strongly committed to execution. started this strategic partnership, 5 they equally have to train and pass

Interview with Dr. Biodun Adedipe, Managing Director/CEO, BAA Consult, Nigeria.


Now what happens in most tripod the bank is on the right defining criteria, you are looking at organizations is that people come footing. what are the needed competencies together and they design what they and expectations, all those things call strategy but really it is not must be well defined within that strategy in the sense of it because policy. So when it now comes to any strategy that does not connect execution, all you need to do is to go to the market and then the future is through that policy and procedure not a strategy. Importantly is the that helps you to select a successor people, that is people having the that will take the crown and provide capacity to execute the strategy. I That is a very fundamental leadership for the people working in didn't mention it earlier I was also question, why it is hard for the organization. involved in the review of the bank's microfinance at this point in time is strategy up until this 10th year, the because the policy came on in As you rightly said, succession performance for the first 10 years 2015 and a lot of CEOs are now planning is an industry-wide issue, and couching the strategy for the getting to do 10 years in office and but beyond the microfinance next 5 – 10 years. by regulation since they can't do industry, it is something that cuts

beyond 10 years just as it applies across the entire finance space What I observed in HASAL is that to deposit money banks they need because this applies to the the bank has a very clear headed to begin to think seriously about microfinance banks, deposit money strategy in place. This means that successor. Now what is most banks, investment merchant banks if the right policies are in place then critical in this is the process, how and even credit bureaus. All of these HASAL will be able to execute their do they do that? This means they are places where we have had to do strategy with the right people. My should have succession policies in work relating to succession and it's assessment of these 3 critical place that is documented with so intense. It also applies to the areas for an organization is my procedures . The issue o f regulators, we have done this for the concern because I call it clean successor is even beyond the Nigerian Stock Exchange in the past. strategy. There is a difference executive office, we look at it by the between clear and clean strategy, regulation. Most institutions and organizations to be clear means you are sure have this as a challenge at some about the direction you are going S o w h e n y o u t a l k a b o u t point but if they follow the pattern I and to be clean means the way the succession planning, you must outlined above, there is likely to be strategy is to be put together is the consider all the key risk posts minimized error because just as way you have approached it, so within the organization, as we there are recruitment error there can you have the clean and clear commonly say, “Leadership starts also be succession error but when strategy. from the top but it doesn't reside you have the procedures followed

there” meaning that there are and we then have an objective basis In terms of policies, one key thing I leaders through the different levels for a selected successor either at the will say is that I see a bank that has within the organization. So the executive office or in any of those key all the necessary policies in place issue then is how do we ensure risk posts, then you minimize your because in my engagements so far that we have the right person in risk that is involved in getting the right there is always a reference to “we those leadership positions? There successor. have a policy existing for this i s a success ion p lann ing particular aspect of our activities or terminology we call 'key risk post' operations” and that is quite that is if this brand will survive and impressive. be sustainable those positions are

key and they also carry risk, Beyond just having policies in therefore you must ensure that you place, I am also aware that the have the right peg in the right hole. bank constantly reviews those That is what succession planning Well we just presented the policy policies to align them with is all about. documents to the board and the contemporary issues, not only in board adopted it. I believe strongly the market but within the banking Having done that, then you must that in the course of the transition that space they operate. I have been define the criteria with that policy to will now be required because of the oppor tune to look a t the a s c e r t a i n w h a t k i n d o f 10th anniversary of the bank, the management team and I see a competencies are needed for board will follow what we have in that management that is very strong those Key Risk Posts. There are 4 policy and put it in document.and for me as a strategist and an different levels of leadership, you analyst it tells me that there is a have the supervisor, middle future for the brand. Therefore I will management, senior management say for the three elements on that and executive management. So in

Many microfinance banks should have clocked 10 years or approaching 10 years, so basically, for the Microfinance space, what should be the succession planning strategy?

We understand that HASAL has engaged you for this, so far has the bank been following the procedures you have mentioned and have you been helping them enough to develop this for the future?

Thank you very much sir, we really appreciate the time you spent with us.

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Interview


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Features:


CONGRATULATIONS

I Okechukwu Ajunwa, Principal Partner, Ajunwa & Co

hereby congratulates

Microfinance Bank Limited as you celebrate

of Sustainable Microfinance Practice.

HASAL

years 10 years 10


aEFInA Collabor tion

FI A Supports H S L w th n ova ion Grant

E nA A i I n t

HASAL 5th Year Anniversary 'Save & Win PromoWinner of the 5th Anniversary 1st Price- PIA Picanto

2013 Thanksgiving Service2016 Thanksgiving


2014 SCHOOL OF AFRICAN MICROFINANCE, KENYA2015 SCHOOL OF AFRICAN MICROFINANCE, KENYA

BANKERS INSTITUTE FOR RURAL DEVELOPMENT, INDIA

OikoCredit is HASAL's International Institutional Partners who support the Bank's business by providing long-term financing for on-lending to its customers. Oikocredit is a social investor and their social aspect aligns with that of HASAL MFB there by promoting responsible financing. We have partnered with OIKO credit in financing individuals, families and businesses at the very micro level.

46

Our corporate objective is to achieve international best practices on good corporate governance. This we continue to pursue by being the preferred partners on poverty alleviation schemes as well as to be ranked amongst the top microfinance service providers in Nigeria. Over the years, we have leveraged on partnerships and strategic collaborations to make contributions towards financial inclusion because we believe that responsible inclusive financial services is a route towards poverty reduction in Nigeria.

AFOS Foundation is currently our growth partner for Management and Organizational Development. Through a series of Management Trainee and Talent Pool programs aligned to accommodate and ensure a sustainable strategic growth and expansion pattern, the partnership is anchored around driving the core values and strategic direction of the bank with the aim of achieving efficiency that eventually translates into excellent service delivery to our clients.

SMEDAN is our partner for promotion of Micro, Small & Medium Enterprises and provision of financial services to trained MSMEs (individuals & cooperative) within the country. HASAL has partnered with SMEDAN for its 'One Local Government One Product' across the 109 Senatorial Districts as well as being a financial mediator for constituency grant implementation.

Bank of Industry is HASAL's Development Finance Institution Partner for on-lending financing. HASAL is a beneficiary of BOIs Bottom of Pyramid fund which is meant for on-lending to individuals, groups or cooperatives. In the past 4 years, over 2000 customers have benefited from the 'Bottom of Pyramid' fund covering micro entrepreneurs, individuals as well as schools.

Partnerships & Correspondence Banking Relationships

No matter where you are in Nigeria, we make banking hitch-free and available to you through our correspondence banking partnerships with major commercial banks. You can deposit and make withdrawals from any of these banks. Our cheques are cleared through these banks and transactions required from commercial banks are routed through the networks of these correspondent banks.


In partnership with InterSwitch, HASAL was the first MFB in Nigeria with an exclusive Electronic Access Point as well as the first to launch Point of Collection (POC) terminals. Through the collaboration, the bank was the first Microfinance Bank to commence issuance of Debit Cards in 2010 riding on its own platform. In partnership with interswitch, we are making branchless banking available in rural communities through the use of our various electronic channels.

47

FCT-MDGs col laborated with HASAL Microfinance Bank for provision of financial services and trainings to Women and Youth in three (3) area councils of the FCT. This project was a partnership which involved the Bank providing basic entrepreneurship trainings of women and youth, while the MDGs trained these individuals on skills acquisition. HASAL also provided self-empowerment loans to the women and youth.

IPA demonstrated support and partnership with HASAL for new micro product launch. The product which was aimed at having a savings account with in-built free medical insurance enrollment as its benefit, received an Innovation for Poverty Action (IPA) grant of $10,000 alongside a technical personnel from YALE University to facilitate the development of our HASAL Health Insurance Account (HINSA).

The HASAL Institute for Microfinance Studies (HIMS Academy) was developed in partnership with HASAL MFB, to first and foremost develop the capacity of employees in-house, arming them with skills needed to deliver responsible and sustainable microfinance services to clients. The institute also strives to enhance capacities in other microfinance institutions who are members of the National Association of Microfinance Banks (NAMB). Our goal is to support an industry of efficient practitioners whose ultimate goal is to improve lives, grow the economy and reduce poverty.

EFInA supported HASAL's branchless banking project with its foray into use of conventional Point of Sale (POS) terminals to Point of Collection (POC) terminals for savings mobilization through use of agents within the FCT and environs. HASAL Microfinance Bank won EFInA's innovation grant of 500,000USD in 2012 with a 100,000USD Technical Assistance for scale up of its project aimed at improving access to finance around the FCT.

HIMS


48

t is true that for

Microfinance to Ibe sustainable,

it's operations must

b e p r o f i t a b l e

enough to become Good”. In January 2016, HASAL launched a

self-sufficient, however this concept does not Consumer Protection & Social Performance

becloud the need for microfinance to accomplish its Management Department to monitor and measure

original purpose – that of social performance. the impact of services and business operations on

Microfinance institutions are expected to be clients. The department which comprises of Call

involved in social performance initiatives through Centre Management, Total Quality Management,

many angles that are available to them. On the one Social Performance Measurement and Brand &

hand, social performance demands in a Communication Management has the mandate to

microfinance bank a responsibility to give back part pursue the bank's commitment to continuously

of the proceeds of its business to the communities impact the lives of customers through the provision

within which they operate. This exercise is known of microfinance services in a professional, yet

globally as Corporate Social Responsibility (CSR). responsible manner as it emphasizes on the need

for the bank to adopt practices that enhance total

On the other hand, Microfinance institutions must quality management as well as measure the impact

continue to monitor and measure their operations to of microfinance on clients while seeking to improve

ensure that it creates social impact in the lives of access to finance, reduce poverty, empower

their customers. women, build community solidarity and promote

economic development.

HASAL's operation over the years has always been

hinged on impact creation. That explains why the

bank choose the slogan “We Touch Your Life for

CUSTOMER CENTRIC BANK!

As the bank continues to expand its outreach, there

is renewed focus on quality service delivery and

protection of customers' interest in order to create

excellent customer experience and

satisfaction. This is because “we value

our customers greatly and their

satisfaction is key, at such, protecting

their interest is paramount to us”

Hence, the bank's social performance

measurement is focused on driving the

implementat ion of the 'Smart

Campaign Principles' so as to uphold a

customer-centric culture.

HASAL reiterates its commitment to

driving financial inclusion through

Responsible Inclusive Finance that

benefits the customers.

Contact us on

[email protected];

Tel: 08123941500

The Consumer Protection & Social Performance Team

Social Responsibility & PerformanceSocial Responsibility & Performance


49

ASAL's social goal focuses on creating fulfilment of the bank's obligation towards the wider value for its stakeholders. This includes not society. In 2011, the bank embarked on a joint Honly customers, but the communities within renovation of the computer block of the National

which we carry out our banking operation. HASAL Youth Service Corps (NYSC) camp. This project Microfinance Bank limited has adopted CSR as a which was commissioned on November 16th 2011 culture, a culture that mandates on the bank a need stands as the earliest of the bank's CSR initiatives.to budget for a social project from time to time in

Corporate Social Responsibility

Ever since then, other projects have followed, in ensures that it leaves a positive impact in the lives of fact, it has become part of the bank's corporate not only its direct customers, but individuals within culture to map out a social event at the beginning of its environment. The first of these exercise took each financial year. This culture has enabled the place in September 2010 when the bank organized bank and its management to see social an entrepreneurial and business training for micro performance as part of its core responsibilities and businesses and upcoming entrepreneurs in Bwari essential part of its operation. Area council of Abuja.

In 2010, HASAL established a training institute The training was facilitated by a team of HASAL's called HASAL Institute for Microfinance Studies qualified faculty and focused on business (HIMS Academy Ltd.), part of the mandate of HIMS developments, business management, cash flow asides providing capacity building for the sub-sector analysis, proper use of loans to support new was to drive financial literacy in the rural and sub- businesses etc. urban areas within the purview of HASAL's spread. This initiative is in support of HASAL's social mission which is to “Touch Lives for Good”. HASAL

Renovated NYSC Computer block


50

Since then, HASAL has used HIMS Academy as a vehicle to drive financial literacy in its environment. This initiative targets low income businesses, young entrepreneurs, active women and even existing customers of the bank. The motive is to support financial and entrepreneurial literacy in this group of people, which will in turn lead to economic activation at the low scale level and in rural areas.

Education Grants

education is the role of everyone including the government, public sector institutions as well as private sector enterprises. To demonstrate its support towards basic education, HASAL introduced scholarship schemes for primary schools. The first implementation of this new initiative in CSR came on the back of the bank's 5th year anniversary celebration when on December 10th 2013, HASAL Microfinance Bank Limited organized a scholarship backed Quiz Competition for Primary 5 & 6 Pupils.

In 2013, when HASAL reached its first milestone of successful and sustainable operation for 5 years, the bank introduced yet another focus area for its corporate social responsibility initiatives- education. Education is a key vehicle for a brighter and more focused tomorrow. Hence the need to support basic


The quiz exercise which concentrated on English selected from our regional office locations. To language, Mathematics and Current affair saw 3 ensure the project achieves social impact, more pupils emerge as 1st, 2nd and 3rd positions. The attention was directed at the Local Education exercise which was held at the HIMS Academy Agency (L.E.A) schools since they are non-for-Main Training Hall, Plot 2105 Herbert Macaulay profit institutions with high percentage of pupils way, Wuse Zone 6 also recognized the 7 runner- from poor households. Therefore six (6) of the ups up to the 10th position with cash gifts of participating schools were government primary N10,000 each to support their parents with back-to- schools while four (4) private primary schools were school activities. All 50 participants were given a chosen from the Bank's customers.consolation prize consisting of a back to school pack. The 1st position which was merited by Master The Spelling Bee which had three (3) pupils each Praise Omokide received a scholarship award to from Primary 4 grade across all the ten (10) schools the tune of N150,000.00 while the 2nd position drew a total of thirty (30) participants from LEA received by Master Yusuf Moses received a Primary School Wuse Zone 6, LEA primary School N100,000.00 scholarship award and the 3rd Azhayapi Kubwa, LEA Model Primary School position which went to Miss Goodness Agada was Nyanya, LEA Primary School Bwari, LEA Primary given a prized scholarship in the tune of N75,000.00 School Garki and LEA Primary School Kayarda

Kuje. From the private schools were Distinction School Apo, Chosen Generation Nursery & Primary School Byazin, Bethel International School

Having set the ball rolling in 2013, the bank is even Nyanya, and Brilliant Precious Kiddies Mpape. more determined to pursue this course of social development. Hence, in 2018 and in line with its With approval and collaboration from the Universal 10th year anniversary budget on Corporate Social Basic Education Board (UBEB) on these initiative, Responsibility projects, HASAL is determined to and working intensely with the head of unit Cultural give back to the society in appreciation of their

and Creative Art Department, Mrs. Irene Isioma support to the bank and also with the aim of creating

Okafor, HASAL set out to have a very successful a positive impact in the lives of people in the

CSR event. The event which took place on April communities where we operate. HASAL organized

26th 2018 at the main training hall of the HASAL a Spelling Bee competition for 10 primary schools

2018 CSR Events


52

Institute of Microfinance Studies (HIMS Academy) Yakubu from LEA Primary School 1 Nyanya, who was also awarded one (1) term full academic Wuse Zone 6 attracted the presence of the Director scholarship in addition to an electronic reading of UBEB, fully represented by Dr. Alhasan Sule, the tablet, school bag, math set, and exercise book.Zonal Art Coordinator of UBEB Dr. (Mrs.) Regina

Udontia and the Local Art Coordinator of UBEB HASAL did not leave the other participants empty Mrs. Irene Isioma Okafor along with other staff of handed. The fourth and fifth positions which went to UBEB as well as some media houses.Master Daniel Okoye of Bethel International School Nyanya and Master Joshua Kekere of LEA Primary The competition, organized in four sessions School 1 Nyanya were each fully rewarded with a consisting of 2, 3, 4 & 5 syllable words came to an reading tablet, school bag, math set, and exercise end with three spellers emerging winners in 1st, book. All the 30 pupils who participated in the 2nd and 3rd positions. The first position, received competition each went home with a schoolbag by Miss Onyinyechi Amah of Bethel International containing math set, exercise book and pen.School was awarded a one (1) year full academic

scholarship, in addition to one (1) electronic The Director of UBEB, Mr. Jatua Noma expressed reading tablet, a school bag with exercise books their appreciation for these initiatives and promised and math set as gift items. Miss Abimbola Jaiyeola to include HASAL Microfinance Bank as one of the also from Bethel International School took the 2nd partners who have made an impact to the position and received two (2) terms full academic Educational sector of the country. scholarship in addition to an electronic reading

tablet, a schoolbag with exercise books and a math set. Taking the 3rd position is Master Joseph

Onyinyechi Amah, 1st PositionOnyinyechi Amah, 1st Position

Abimbola Jaiyeola, 2nd PositionAbimbola Jaiyeola, 2nd Position

Joseph Yakubu, 3rd PositionJoseph Yakubu, 3rd Position

The Champions


53


HASAL 10th YEAR ANNIVERSARY HEALTH WALKTheme: STRIDES FOR A HEALTHY HEART

Another social event organized by the bank as a Healthy Heart.part of our Corporate Social Responsibilities (CSR) for 2018 was a health walk to create The 9.11 kilometer and over 12,000 steps brisk walk

awareness on the risks associated with which took place on Saturday September 22nd cardiovascular disease and simple natural 2018, started off by 7:10 am from the Wuse Zone 6 preventive measures to keep individuals from heart regional office of HASAL Microfinance Bank, disease. Some of the root catalysts of heart disease through Micheal Okpara Street, then to Olusegun are overweight, high cholesterol, lack of Obasanjo way all the way through IBB way and then appropriate exercise, excessive use of alcoholic back to Herbert Macaulay way which is the starting beverages etc. Exercise can reduce stress, provide point of the exercise. more energy, helps improve sleep pattern and The Walk had the full participation of staff members, brings down the risk of heart disease. That's why we executive management of the bank, board organized a simple, health walk themed “Strides for members, customers and notable Nigerians such


54

as the Permanent Secretary of the Ministry of The bank has outlined more CSR events for the Sports, the FCT Director of Sports dully next 12 months and work has already kicked-off to represented by her team, security agencies, and ensure the delivery of such projects.Federal Road Safety officials, as well as a medical team.


55

Health Talk

healthy and acceptable limits of disability adjusted life years ver the passing of time, blood pressure. Thus, high blood (DALYS). Prevalence of the several diseases have O pressure refers to persistently high condition has increased over the ravaged the human race systolic blood pressure greater than years to about 40% in both sexes ranging from the most ominous to 140mmhg and greater than 90mmhg and an increase in uncontrolled the subtle. The obvious killer diastolic blood pressure in more than blood pressure from 100 million diseases ranked the top ten had 2 clinical readings. persons in the early 80's to about increased attention and awareness Blood circulates from the heart to 1 billion in the 21st century. due to the immense impact created different areas in the body through Interestingly, Africa accounts for by their notorious nature. Included in blood vessels (arteries). With each the highest burden in terms of this list are diabetes milletus, heart beat blood is pumped into the prevalence (46%). In a resource tuberculosis, diarrheal diseases, arteries and pressure is created limited setting such as ours and lung cancers, hypertensive heart when the heart pushes blood against with a bursting population of more diseases, HIV/AIDS. the wall of the blood vessels. than 160 million persons, the Hence, an increased pressure would prevalence of hypertension in Although hypertension is not a result in an increased work load on Nigeria is overwhelming. A recent disease, its disease causing ability is the heart to pump blood. No wonder, study revealed an estimated 20.8 not of serious concern generally due high blood pressure predisposes to million persons at least 20 years its imperceptibil ity. It 's not cardiovascular heart diseases which of age with a prevalence of about infectious, would not result in is a leading cause of death 28% affected with hypertension. physical manifestations that induce globally.The systolic blood pressure It has also been projected that an stigma, thus, the population at large, is a reflection of the pressure being additional 18.3 million persons do not attach important significance exerted on the walls of the arteries would be affected by the year to hypertension as they would other while blood is pumped from the heart 2030. c h r o n i c c o n d i t i o n s . T h i s with each beat. nonchalance towards a disease

It is important to note that different causing element so daunting, On the other hand, diastolic categories of blood pressure exist sneaky, but yet enormous has taken pressure is the pressure being including, normal blood pressure the great and mighty unaware, exerted on the blood vessels noted as 120/80mmHg, pre-leaving its imprints in the sand of between heart beats (heart's resting hypertension (120-139/80-times.phase). It is worthy of note that systolic blood pressure increases Is hypertension simply high blood with age as a result of progressive pressure? Some may say it's stiffness of the arteries and plaque harmless, just a physiological build- up. Consequently, with every response to adverse conditions. 20mmHg rise in systolic or 10mmHg True, it could be harmless when rise in diastolic BP doubles the risk of transient but harmful at persistently death from ischemic heart diseases high levels. Blood pressure (BP) and stroke.fluctuates at different occasions

such as during sleep, it decreases T h e w o r l d w i d e b u r d e n o f and increases on awakening as well hypertension is a serious cause for as during physical activity, anxiety concern, leading to the deaths of 75 and old age. These are normal million persons with 57 million physiological conditions that are

The Silent Killer

Dr. Igbinomwanhia Victoria, O.V (MBBS, MPH)


56

90mmHg), stage 1 (140-159/90- failure due to thickening of the equivalent to a shot of whisky, 2 muscles of the heart caused by the units in a glass of wine and a glass of 9 9 m m H g ) , S t a g e 2 high blood pressure making it beer.( > 1 6 0 / 1 0 0 m m H g ) a n d difficult for the heart to pump blood

Hypertensive Emergency. The to meet the needs of the body, Non-dietary preventive measures b ig ques t ion i s ; wha t i s thickening and hardening of the would include changing /modifying

arteries resulting in stroke or those life styles that increases the responsible for abnormally high atherosclerosis, weakening and risk of hypertension. For example, levels of blood pressure? The widening of the arterial wall which a sedentary routine would increase

cause of hypertension can be can cause sudden death, loss of the likelihood of having truncal d iv ided in to two tha t i s , vision due to narrowing of blood obesity and being overweight. Primary/Essential hypertension vessels in the eyes, memory loss,

chronic kidney disease, peripheral T h u s , d a i l y e x e r c i s e i s and Secondary hypertension.vascular disease. The list of recommended, brisk walking within pa tho log ies resu l t i ng f rom short distances rather than driving, hypertension is endless. Suffice it jogging, climbing the stairs rather to say, we do not have to let this than using the lift, swimming and Primary/Essential hypertension is silent killer take over our lives. We dancing have all been found very known as high blood pressure can do something about it; as the helpful. Increased activities such as caused by certain lifestyles and cliché goes “Prevention is better these for 30 minutes in a day could genetic factors, basically an than cure”. actually lower BP by 4-9 mmHg. unknown specific cause, which

Exercise, increased daily activity progresses over time. It is obvious that nothing can be and proper diet can help with weight This accounts for 90- 95% of the done about predispositions to loss as being overweight could aetiology whilst Secondary hypertension such as a family predispose to high blood pressure. hypertension accounts for the history, age or being African. But we Cigarette smoking is another life remaining 5-10%. It is high blood can do something about those style that can be changed to pressure due to a known cause factors that can be controlled such maintain blood pressure within such as endocrine disorders, as life style and habits. These normal limits. Hence, quitting Diabetes Mellitus, Chronic kidney include dietary and non–dietary smoking is advisable to prevent high disease, pregnancy, birth control modifications. The dietary aspects blood pressure that can result from pill use, amphetamine and are related to a reduction in the smoking. c o c a i n e u s e , c e r t a i n quantity and caloric content of food decongestants and pain relieving ingested. Foods with high fatty High caffeine intake is known to medications. This type of content could increase the amount cause slight increase in BP in some hypertension has sudden onset of p laque format ion in the persons, its encouraged to cut back with higher blood pressure levels. cardiovascular walls which triggers on amount of caffeine taken. Lifestyles that predispose to high the cascade of hypertension leading Excessive stress both mental and b l o o d p r e s s u r e i n c l u d e to heart attack. Those with high physical can lead to hypertension. overindulgence in tobacco and calorie in addition to high quantity As much as physical activity is alcohol, high salt diet, sedentary results in excessive weight gain recommended for a healthy life style, stress, excessive which increases the risk of lifestyle, activity levels that are high c o n s u m p t i o n o f h i g h

carbohydrate and fatty diet hypertension. Consequently, it's enough to act as stressors can lead advisable to consume a balanced to hypertension. It's advisable to resulting in obesity. diet with plenty of fruits and maintain a balance in physical,

There are also risk factors that vegetables, low calorie diary mental, spiritual and psychosocial predispose to h igh b lood product, whole grains. It's important activities in order to prevent pressure, they are; Race- to cut down on the quantity and stressful events that can lead to commoner in blacks than whites, calorie (high) of food with increasing hypertension.Age- increases with age and age. occurs earlier in men, 45years, Most importantly, regular BP checks and later in women, 65 years, This also applies to reduction in salt would help in monitoring BP levels in Family history of hypertension i n t a k e w h i c h c o u l d c a u s e order to act early enough with any and all the life styles mentioned hypertension due to its sodium slight increase. Seeking prompt above in addi t ion to low content. Thus, potassium rich food medical attention and strict potassium diet. Some children such as banana, cashew nuts, adherence to anti-hypertensives is are as well prone to hypertension avocado, white beans can come in key for those who have been newly especially, those who indulge in handy. Extra salt at table should be diagnosed and those who have poor life style habits mentioned strongly discouraged as well as been on medication.above or diseases of the kidney or processed/packaged food that Health is wealth! Do not let this heart. contain high amount of salt. silent killer elude you with its

Excessive alcohol intake is also evasiveness. Why is hypertension a silent implicated in hypertension, hence, killer? This is due to its subtle men should not exceed more than ability to slowly and silently cause 21 units of alcohol in a week or damage to different blood vessels 3units a day while women should in the body sequeling in damage not exceed 2 units a day or 14 units to different organs and systems. a week. About 1 unit of alcohol is Hypertension could lead to heart

Act now! Prevent it! Live right! Stay Healthy!


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