Wholesale Funding Through Microfinance Banks (MFBs)
The BOP Fund is essentially aimed at taking action and steps to end poverty and would focus on the rural poor and areas where poverty thrives but with endowments that are in high demand in urban cities. To achieve this primary objective, the stakeholders must focus on businesses with attainable impacts, able to reach a large number of people on the BOP, viable businesses serving poor customers, projects that guarantee repayment, are lucrative and have potentials for innovation and attain best practices. Business mentorship and integration into the value chain is provided for businesses in this sector, while access to finance is made available through wholesale lending to partnering microfinance banks (MFBs) who on-lend to the beneficiaries. Partner funds, especially the Dangote Foundation, are run on this scheme.