IPMAN partners CrowdForce to boost financial inclusion
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has partnered with CrowdForce, a financial services firm, to operate as mobile money agent to expand financial inclusion in the country.
Mr Tomi Ayorinde, the Chief Executive Officer, CrowdForce said the partnership would help to boost IPMAN members’ businesses being mobile money agents.
Ayorinde said this in Lagos on Wednesday during enlightenment induction with members of the association on the need to embrace the initiative as other form of generating income.
He also said that CrowdForce in collaboration with Providus Bank would also facilitate loan to marketers at low interest rates to grow their business.
He said CrowdForce also has accounts in all commercial banks for easy transactions and access of fund to all its mobile money agents nationwide.
Ayorinde said with over 19,000 IPMAN retail outlets across country, the agents will boost financial inclusion in any communities in their operations center.
He said CrowdForce is changing the narratives by building an ecosystem of one million merchants that will render penetrative market research and financial inclusion services to billions of consumers in Africa and other emerging markets.
“We use mobile technology and the largest agent network to help businesses, banks, digital wallets, multinational organisation, NGO and government agencies in reaching the underserved population in the emerging markets.
“We empower businesses to drive mass adoption of digital, crypto and financial services to underserved population in their communities.
“We are changing the way business is done in Africa.
“It is difficult to get reliable and verifiable data out of Africa. So, we built a mobile technology and a network of 100,000 field agents to solve this problem,” he added.
Ayorinde explained that CrowdForce, licensed by Central Bank of Nigeria (CBN) in 2018 focuses more on unbanked and also gears toward creating opportunities and employment for Nigerians.
Mrs Folasade Tinubu-Ojo, the Iyaloja General, commended CrowdForce for the initiative.
She said the initiative was tinted toward empowerment and value creation of market women.
Tinubu-Ojo said that the mobile money agent’s initiative would also reduce holding huge sum of money in the market, adding that it would also solve unemployment challenges in the country.
“We will ensure that all market women across the country embrace and key into the project to fast track great opportunities to market women.
“This will also be another source of revenue generation through mobile money agent’s initiative” she said.
In his remarks, Mr Chinedu Okoronkwo, National President of IPMAN lauded CrowdForce initiative, adding that the ideas were to see how to bring more wealth to members.
Okoronkwo said that the process would fast track ‘easy Loan’ to members to purchase trucks, equipment and other facilities that would boost their operations.
“We have started this project among our members in Kano, Imo, Gombe Owerri while grand finale will hold in Abuja before the end of September.
“This will impact positively on members businesses and also bring guaranteed and security to their operations,” he said.
The News Agency of Nigeria (NAN) recalls that CBN Governor, Godwin Emefiele has continued to take steps meant to deepen banking services in the economy.
Emefiele said that the hope for Nigeria to achieve 80 per cent financial inclusion rate come the year 2020.