Dankat financial services was a direct response to addressing the challenges faced by the SMEs in securing loans from the commercial banks. After developing over 30,000 SMEs including capacity development for the operators, the SMEs were not able to access finance for their enterprise.
Consequently, Dankat developed a financial service arm known as Kada Micro Finance Bank (MFB) and Dankat Micro Finance Institute (MFI). These organizations are engaged in strategic development of the micro finance services for Dankat Investment Limited.
By the third quarter of 2020, Kada MFB recorded an increase in non-SME products and expanded her operations to cover knowledge-sharing to non-literate farmers, which account for 75% of farmers in Northern Nigeria.
Dankat Micro Finance Institute is dedicated to training farmers on modern agricultural practices and upscaling farming f rom subs i s tent level to commercial level.
Moreover, farmers are trained on how to adapt to impact of climate change on agriculture, now known as “Climate Smart Agriculture”.
DIL financial services include operating a licensed Bureau De Change (BDC).
This was an offshoot of series of certification and registration of the following companies with the Central Bank of Nigeria (CBN): Dankat BDC, Laps BDC, Danla BDC, K-10 BDC and IGoma BDC. The BDCs have supported DIL’s huge foreign exchange transactions.