Grameen Foundation : Where we work : Sub-Saharan Africa : Nigeria : LAPO
LAPO
Lift Above Poverty Organization
| Status snapshot as of March 2008 | |
| Active clients | 166,278 |
| Loan portfolio (USD) | $18,747,072 |
| Portfolio At Risk >30 days* | 1.1% |
| * Value of all loans outstanding that have one or more installments past due more than 30 days | |
LAPO started its activities in 1987 and was formally incorporated as a nonprofit nongovernmental organization (NGO) in 1993. The specific objective of LAPO is to promote selfemployment through access to microfinance. LAPO’s clients are among the poorest people in the urban and rural areas where it operates.
LAPO bases its client eligibility on indicators such as level of education, size and condition of housing, size of business, and household assets. While microfinance is its lead program, LAPO believes that for meaningful impact, the provision of financial services should be supplemented with social development programs. Over the years, LAPO has established the following semiautonomous institutions to provide social development services:
- LAPO Development Centre (LADEC) – undertakes programs aimed at addressing social injustice and manages a publication unit called the LAPO Information Resource Centre
- LAPO Health - implements health awareness programs
- LAPO Services – is a consultancy unit, which offers specialized microfinance services to individuals and organizations.
- In December 2007, LAPO has launched LAPO Agricultural and Rural Development Initiative (LARDI), designed to improve the household food security and healthy living of people in the rural area has been launched.
Grameen Foundation support:
GF has been supporting LAPO since early 2003 and in this period has supported LAPO’s branch expansion, on-lending to clients and MIS automation projects. GF has also provided LAPO with technical assistance to support the development of strong financial reporting and internal control and management systems. In the next year, GF plans to help LAPO by providing it with local financing as well as support with its internal controls, management information system, and last, its transformation to a microfinance bank.
Awards:
LAPO was awarded the Grameen Foundation "2006 Excellence in Microfinance Award." The award money was subsequently used by LAPO as scholarship grants for 26 students from all over Nigeria.
Nigerian microfinance institution (MFI) Lift Above Poverty Organization (LAPO) received a USD 1.04 mn loan from Citibank. The loan was enhanced by a USD 500,000 guarantee from the Grameen Foundation.
In December 2007, LAPO has launched LAPO Agricultural and Rural Development Initiative (LARDI), designed to improve the household food security and healthy living of people in the rural area has been launched.
A Scholarship Initiative, funded by the award money attached to the 2006 GF Excellence in Microfinance Award, was set up to address the needs of children deprived of access to education due to poverty. Twenty six students from all over Nigeria were awarded a scholarship grant.
Godwin Ehigiamusoe, CEO of LAPO, has become a member of the GF Africa Advisory Council.
Learn more at: www.lapo-ng.org
Grameen Foundation : Where we work : Sub-Saharan Africa : Nigeria : LAPO
Grameen Foundation uses microfinance and innovative technology to fight global poverty and bring opportunities to the world's poorest people. With tiny loans and financial services, we help the poor, mostly women, start businesses and escape poverty. Our global network of 55 microfinance institution (MFI) partners including our Growth Guarantee partners has touched more than 34 million people in 24 countries. In addition, we introduced and now sustain technology initiatives (Mifos and Village Phone) in Cameroon, Kenya, Rwanda, and Uganda, bringing our total country outreach to 28.
+1-202-628-3560 www.grameenfoundation.org
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