Most formal financial institutions are unable to reach the world’s poorest people, who greatly need access to appropriate and affordable financial services. Flomido Welfare
Foundation’ microfinance programs in Nigeria work through microfinance associations and their member institutions, as well as with informal or community-based savings
groups. Both approaches encourage clients to save and borrow for investments in income-generating microenterprises. Both reach very poor households and communities and
help to create a sustainable financial base for local community development. FWF microfinance programs in Nigeria place a major focus on savings-led Microfinance. We provide training and capacity strengthening to new savings group, using a highly
sustainable fee-for-service, market-based, agent approach. Upon completing their first 12-month cycle, groups can operate on their own. The subsequent cycle begins
immediately after the share-out meeting, making the end of the previous cycle.