RenMoney Microfinance Bank, one of Nigeria’s leading consumer finance providers, has embarked on a programme of re-organization to position it for growth and sustained market leadership into the future.
According to Ighiwi Erhahon, RenMoney’s Head of Legal and Compliance, the company has, as part of this process, recruited some highly experienced people into very senior positions. Some of these appointments will be formally announced as soon as they are approved by the Central Bank of Nigeria.
Internally, RenMoney’s focus is on simplifying operations and policies in line with its vision to be the most convenient lending company in the country.
RenMoney Microfinance Bank started operations as RenCredit in 2012, under a unit Microfinance Banking License in Ikoyi, Lagos. In December 2013, RenCredit MFB Limited was re-branded to RenMoney MFB Limited – the name by which it is known today. RenMoney provides convenient lending, fixed deposits and target savings account.
RenMoney upgraded to a state license to better serve customers in Lagos State. The company now operates out of five branches – Ikoyi, Ikeja, Surulere, Lagos Island and Ikota.