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Ehingbeti 2022: We are closing the financial exclusion gaps in Nigeria – MD/CEO, 9PSB

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Ehingbeti 2022: We are closing the financial exclusion gapsin Nigeria – MD/CEO, 9PSB


9 Payment Service Bank (9PSB), Nigeria’s digital payment service bank focused on financial inclusion has restated its commitment towards closing the financial exclusion gap in Nigeria by actively providing platforms that offer easy access to financial services to the most vulnerable and excluded demographic groups across the country,thereby attracting more people into the financial ecosystem.

The Chief Executive Officer, 9 Payment Service Bank (9PSB), Branka Mracajac joined other panelists for the final phase of the Ehingbeti 2022 Tech Hub Roundup interactive session, powered by Techuncode, which held on Wednesday, October 5, 2022, at the Impact Hub, Ikoyi, Lagos. This was with the aim of critically examining issues around driving financial inclusion in Nigeria – with Lagos in focus – and how to overcome them. 

Mracajac while contributing to the discussion emphasized that the bank’s mandate is to help close the financial exclusion gap in Nigeria.  She said, “What we are trying to do is make a social impact by providing financial inclusion and literacy for the wellbeing and economic growth of the country. What we bring to the market is a channel that enables access to capital which some of our partners with lending rights can offer to micro and small businesses. We all understand that these kinds of businesses are the bedrock of the economy of Lagos State and other states.”

However, she noted that the lack of adequate infrastructures like electricity and internet services are major setbacks towards the actualization of financial inclusion in the country. “These are critical infrastructures that need urgent intervention for progress to be made. I see Lagos as the technology, and indeed, prosperity hub in the country and as such it must take the lead in infrastructural development. There are enough expertly documented policies in the country, all that is needed now is action,” she said.

“At 9PSB, we are therefore looking at collaborating with organisations and government institutions that share our passion, that share the same agenda with us to improve the situation for instance, those that are capable of providing loans and grants to support the initiative, to partner us as we provide the knowledge and required tools to achieve this throughout the various clusters around the country. This we believe will bring about the desired improvement and narrow down the financial exclusion gap significantly,” Mracajac added.

Also on the Ehingbeti 2022 Tech Hub Roundup Panel Sessionwere the Special Adviser to Lagos State Governor on SDGs and Investment, Solape Hammond; Special Adviser to Lagos State Governor on Innovation and Technology, Tubosun Alake and Chief Executive, ARM Harith Infrastructure Fund Managers, Tariye Gbadegesin, all making various submissions during the session. The Summit was conceived as a platform where local and international leaders in private and public sectors assemble to chart a course for the future development of Lagos State, with the mandate to address the socio-economic development of Lagos State.

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