Baobab Nigeria
- Company typePrivate
- Founded2005
- HeadquartersYaba, Nigeria
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
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.
Baobab Nigeria firmographics
Firmographics- 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
Baobab Nigeria industry classification
Industry- 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
Where Baobab Nigeria is headquartered
LocationHeadquarters
- HQ city
- Yaba
- HQ country
- Nigeria
- HQ region
- Africa
Offices3 records
Markets served
Baobab Nigeria business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Micro-loans: Loans under €10,000 with repayment schedules under 12 months, targeted at micro-entrepreneurs and small business owners.
- SME Loans: Larger loans up to €300,000 with repayment terms up to 60 months for SMEs seeking growth capital.
- TAKA Digital Nano-Loan: Instant digital nano-loans accessed via mobile app for clients meeting rating criteria, providing immediate liquidity.
- Savings Accounts: Savings accounts accessible at any time, various savings plans, and term deposits with competitive interest rates.
- Payment Services: Electronic and interbank transfers, payment cards, slips, and electronic invoice payments through local partner networks.
- Insurance Products: Core insurance product protecting policy holders and their families in case of death or unexpected disability, distributed across Baobab subsidiaries.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Micro-loans (under €10,000) with repayment terms under 12 months |
| Subscription | Multi-year contract | SME loans (up to €300,000) with repayment terms up to 60 months |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels9 records
Baobab Nigeria product offering
Product offeringCore 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
Companies that use Baobab Nigeria
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
Baobab Nigeria technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability2 records
Feature5 records
Baobab Nigeria partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered minor and core.
- Sisters of JannahminorGrassroots 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 PadsminorFemale-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.
- BioLiteminorBaobab 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.
- MastercardcoreBaobab Bank Madagascar announced a partnership with Mastercard to enhance digital payment solutions and expand financial inclusion through improved payment infrastructure.
- Women In AfricaminorBaobab 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 MoneycoreBaobab 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 MadagascarminorSanlam Madagascar and Baobab Banque Madagascar signed a partnership to develop the bancassurance sector, expanding insurance product distribution.
- OKOminorBaobab 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
Baobab Nigeria competitors and assessment
Company assessmentDirect 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
Baobab Nigeria social profiles
Digital presenceBaobab Nigeria financial estimates
Financial estimateRevenue estimate
Valuation estimate
Baobab Nigeria leadership team
Management profileNumber of profiles
Profiles1 record
Baobab Nigeria subsidiaries and ownership
Company hierarchySubsidiaries9 records
Baobab Nigeria funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Baobab Nigeria M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Baobab Nigeria
What does Baobab Nigeria do?
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.
Is Baobab Nigeria a public or private company?
Baobab Nigeria is a private company. It is classified as venture growth investor backed and is currently operating.
When was Baobab Nigeria founded?
Baobab Nigeria was founded in 2005. It employs 501 to 1,000 people.
Where is Baobab Nigeria based?
Baobab Nigeria is headquartered in Yaba, Nigeria, in the Africa region.
How does Baobab Nigeria make money?
Six revenue lines are on record. Micro-loans are the primary driver. The others are SME Loans, TAKA Digital Nano-Loan, savings Accounts, payment Services and insurance Products.
Who are Baobab Nigeria's main competitors?
ProCredit Holding is listed as a direct peer. Broad incumbents are Equity Group Holdings, Ecobank, Guaranty Trust Holding Company and Access Holdings. Emerging players are Carbon (formerly Paylater), Branch International, Kiva, M-Kopa and Tala.
Does Baobab Nigeria have an API?
No public API is recorded for Baobab Nigeria.
What industry is Baobab Nigeria in?
Baobab Nigeria's product category is Microfinance Banking. Its primary akta.pro industry code is FSABAAAI, Small Business Banking (Microbusiness/Sole Proprietor). Its NAICS code is 5221 and its SIC code is 6153.