Baobab Nigeria

What Baobab Nigeria does

Baobab Nigeria is a microfinance bank and wholly-owned subsidiary of Baobab Group (formerly Microcred, founded 2005), headquartered in Yaba with a new Lagos head office inaugurated in April 2026 at 129 Ikorodu Road, Onipanu. The bank provides credit, savings, payments, and insurance products to micro-entrepreneurs and small businesses across Nigeria, operating 38 branches in 16 states with plans to add 100 more, and serving segments ranging from street vendors with sub-€10,000 working-capital loans to SMEs seeking up to €300,000 over 60 months.

The product platform is anchored by the My Baobab mobile app (Google Play), which enables 24/7 transfers, mobile money access, and TAKA digital nano-loan repayments, complemented by the Jollof+ Nigeria-specific savings app launched in 2024. Underlying technology includes a proprietary credit rating algorithm that approves eligible customers instantly and triggers automatic loan renewals within hours, biometric-secured exclusive banking agents deployed in semi-rural areas at least 3km from any branch, and integrations with mobile money partners (Orange Money, Wave Senegal at the Group level). 46% of Group loans are now originated digitally.

The business model is microfinance-led: interest and fees on a high-volume, small-ticket loan book (€1.2 billion disbursed Group-wide in 2025, with Nigeria a major contributor), supplemented by recurring fee income from savings, payment services, and insurance distribution. Go-to-market combines a physical branch and exclusive-agent network with self-serve mobile channels, targeting women entrepreneurs through dedicated programs (Women In Africa, IFC partnership) and the broader MSME long tail underserved by Nigerian commercial banks.

Name

Baobab Nigeria

Legal name

Baobab S.A.S.

Website

https://baobab.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Microfinance Banking

NAICS

Depository Credit Intermediation (5221)

SIC

Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

Keywords

• Microfinance banking
• Digital lending
• Micro loans
• SME financing
• Mobile banking

Headquarters

HQ city

Yaba

HQ country

Nigeria

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Micro-loans: Loans under €10,000 with repayment schedules under 12 months, targeted at micro-entrepreneurs and small business owners.
2. SME Loans: Larger loans up to €300,000 with repayment terms up to 60 months for SMEs seeking growth capital.
3. TAKA Digital Nano-Loan: Instant digital nano-loans accessed via mobile app for clients meeting rating criteria, providing immediate liquidity.
4. Savings Accounts: Savings accounts accessible at any time, various savings plans, and term deposits with competitive interest rates.
5. Payment Services: Electronic and interbank transfers, payment cards, slips, and electronic invoice payments through local partner networks.
6. Insurance Products: Core insurance product protecting policy holders and their families in case of death or unexpected disability, distributed across Baobab subsidiaries.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels9 records

Core offering

Baobab Nigeria is a microfinance bank that provides financial services to micro-entrepreneurs and small businesses across Nigeria, including micro-loans (under €10,000), SME loans (up to €300,000), savings accounts, current accounts, payment services, and insurance. The bank distributes these services through 38 physical branches across 16 states, exclusive banking agents, partner shops, and the My Baobab mobile application, with the TAKA digital nano-loan enabling instant credit disbursement for eligible clients.

Product overview

Baobab Nigeria operates as a microfinance bank providing financial services to small businesses and micro-entrepreneurs across Nigeria. The core product is the My Baobab mobile banking app, which provides 24/7 access to fund transfers, mobile money services, and Taka loan repayment. Lending products include Taka Credit (instant digital nano-loans for eligible clients) and Automatic Loan Renewals (credit algorithm-powered expedited renewal for best customers). The product suite also includes Savings Accounts, Current Accounts, Payment Services, and Insurance. Baobab+ provides non-financial solutions focused on rural electrification and digital access. The bank operates 38 branches across 16 states in Nigeria, supported by a network of Points of Sale and banking agents.

Differentiator

Problem solved

Functional benefit

Brands

• Baobab+: Non-financial solutions subsidiary providing rural populations access to light and digital technologies. Founded in 2018. Majority stake sold to BioLite in May 2025.
• TAKA Credit
• Jollof+
• My Baobab

Products and services

• My Baobab Mobile Banking App Mobile banking application allowing clients to transfer funds, access mobile money services, repay TAKA loans, check account balances, and track payment deadlines 24/7. Available on Google Play Store for micro-entrepreneurs and small business customers.
• TAKA Digital Nano-Loan Instant digital nano-loan product unlocked for clients who meet rating criteria via the My Baobab mobile app, providing immediate liquidity for unforeseen circumstances or urgent business opportunities.
• Micro-Loans Loans under €10,000 with repayment schedules under 12 months, targeted at micro-entrepreneurs and small business owners for working capital and business growth.
• SME Loans Larger loans up to €300,000 with repayment terms up to 60 months, offered to small and medium enterprises seeking growth capital and expansion financing.
• Savings Accounts Savings accounts accessible at any time, various savings plans, and term deposits with competitive interest rates, offered at branches and through digital channels to micro-entrepreneurs and small businesses.
• Current Accounts Transaction accounts for small businesses and micro-entrepreneurs to manage daily banking needs alongside loan and savings products.
• Payment Services Full range of payment options including electronic and interbank transfers, payment cards, slips, and electronic invoice payments through local partner network.
• Insurance Products Core insurance product protecting policy holders and their families in case of death or unexpected disability, distributed across Baobab subsidiaries.
• Jollof+ Savings App Nigeria-specific savings mobile application offering a revolutionary savings experience tailored to the Nigerian market, providing digital savings capabilities to local customers.

Quantifiable outcome

• €1.2 billion disbursed to customers in 2025; €1 billion+ in new loans each year
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability2 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• Sisters of JannahminorStrategic or Co-development Partner · 1 July 2026Grassroots organization partnered with Baobab Nigeria for the Menstrual Hygiene Awareness Project in Ilorin, Kwara State. Distributed 500 reusable sanitary pads to schoolgirls as part of Baobab's CSR framework focused on inclusive development.
• Sana PadsminorStrategic or Co-development Partner · 1 July 2026Female-owned enterprise based in Kano that supplies reusable sanitary pads for Baobab Nigeria's Menstrual Hygiene Awareness Project, supporting local female entrepreneurs as part of the initiative.
• BioLiteminorStrategic or Co-development Partner · 6 April 2025Baobab Group sold its majority stake in Baobab+ (the non-financial services subsidiary providing light and digital technology access to rural populations) to BioLite, a company focused on sustainable energy solutions.
• MastercardcoreTechnology or Integration · 19 January 2024Baobab Bank Madagascar announced a partnership with Mastercard to enhance digital payment solutions and expand financial inclusion through improved payment infrastructure.
• Women In AfricaminorStrategic or Co-development Partner · 24 June 2022Baobab Group partnered with Women In Africa, an international platform for the development of African women entrepreneurs. Baobab Senegal employees mentored nine Senegalese women entrepreneurs preparing pitches for funding.
• Orange MoneycoreTechnology or Integration · 11 March 2022Baobab and Orange Money launched a 100% digital loan and savings offer (M-Baobab) in Senegal, enabling instant access to credit and savings via Orange Money mobile money platform. Later extended to Madagascar.
• Sanlam MadagascarminorStrategic or Co-development Partner · 30 September 2021Sanlam Madagascar and Baobab Banque Madagascar signed a partnership to develop the bancassurance sector, expanding insurance product distribution.
• OKOminorStrategic or Co-development Partner · 3 July 2020Baobab and OKO joined forces to support farmers in Mali, providing agricultural insurance and financing solutions tailored to the farming sector.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• ProCredit Holding: ProCredit Holding is a European-based group of SME-focused banks operating in emerging markets, including several in Africa; it shares Baobab's focus on serving small businesses and entrepreneurs with relationship-based banking and standardized credit processes.

Broad incumbents

• Equity Group Holdings: Equity Group is a major East African banking group with deep microfinance, MSME, and digital banking operations; comparable to Baobab in serving underbanked SMEs but operating at substantially larger scale and with broader retail offerings.
• Ecobank: Ecobank is a pan-African commercial bank with presence across many of the same countries as Baobab Group; it competes for SME and retail customers but operates a much broader corporate/wholesale franchise rather than specializing in microfinance.
• Guaranty Trust Holding Company: Guaranty Trust is one of Nigeria's largest banking groups serving SMEs, retail, and corporate clients; it overlaps with Baobab Nigeria in SME banking but with a broader product set and larger balance sheet.
• Access Holdings: Access Holdings is a Nigerian banking group with significant MSME and retail focus, overlapping directly with Baobab Nigeria's target micro-entrepreneur segment; it operates at much larger scale with broader geographic reach.

Emerging players

• Carbon (formerly Paylater): Carbon is a Nigerian digital lender offering instant nano and personal loans via mobile app; it competes directly with Baobab's TAKA digital nano-loan for the same underbanked borrower base but with a fully digital, no-branch model.
• Branch International: Branch International is a mobile-first digital lender operating across several African markets including Nigeria and Kenya; it overlaps with Baobab on small-ticket uncollateralized lending but reaches customers entirely through its smartphone app.
• Kiva: Kiva is a global crowdfunded microfinance platform that funds micro-entrepreneurs, including across Africa; it competes with Baobab as an alternative source of microcredit for the same target borrower base, though via a marketplace model rather than direct lending.
• M-Kopa: M-Kopa is a Kenya-based fintech providing pay-as-you-go financing and digital credit to underbanked African consumers; it overlaps with Baobab in serving low-income, informal-segment borrowers through mobile-first credit products.
• Tala: Tala is a digital lender using mobile data for credit scoring in emerging markets including Nigeria and Kenya; it competes with Baobab's TAKA product for instant nano-loan demand among unbanked and underbanked customers.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/Baobab_Group
• YouTubeyoutube.com/channel/UCquse2ZhcjI9WCvPH0EozLg
• Facebookfacebook.com/baobab.ng
• LinkedInlinkedin.com/company/groupe-baobab
• Instagraminstagram.com/baobabgroupe

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Baobab Nigeria