Firms to Boost Support for SME, Transport Entrepreneurs

Sunday Ehigiator

LAPO Microfinance Bank (LAPO MfB) has signed a Memorandum of Understanding (MoU) with SIMBA TVS, Nigeria’s leading three-wheeler brand and one of the country’s fastest-growing two-wheeler manufacturers, to deepen support for transport entrepreneurs and small business owners across the country.

The MoU signing ceremony, which took place at the bank’s headquarters in Lagos, formalised a strategic partnership aimed at expanding access to mobility assets, business growth support and sustainable livelihood opportunities for micro, small and medium enterprises (MSMEs).

Speaking at the signing ceremony, the Managing Director of LAPO Microfinance Bank, Mrs. Cynthia Ikponmwosa, said the partnership aligns with the bank’s core mission of empowering Nigerians to build sustainable livelihoods.

“At LAPO MfB, our mission is to empower Nigerians to build sustainable livelihoods and grow their businesses. Transport entrepreneurs, especially those using motorcycles and tricycles, play a vital role in the economy. By partnering with industry leaders like SIMBA TVS, we are creating practical pathways for these business owners to access reliable assets, grow their operations, create jobs and contribute meaningfully to national development,” she said.

Speaking on behalf of SIMBA TVS, the Chief Business Officer of SIMBA Group, Mr. Laveen Gupta, described the collaboration as a major step towards strengthening Nigeria’s transport sector. “With close to forty years of presence in Nigeria, SIMBA TVS is a major part of the country’s mobility ecosystem. We have over 30 million Nigerians who use our products. Partnering with LAPO Microfinance Bank, an institution with a proven track record in empowering small businesses, will enable transport entrepreneurs gain access to reliable vehicles, expand their businesses and improve their livelihoods,” Gupta said.