Union Bank of Nigeria and BFREE, a cutting-edge German-Nigerian FinTech firm, have signed a Memorandum of Understanding (MOU). This agreement signifies a joint commitment to addressing economic challenges and revitalising distressed loan portfolios in Nigeria. This MOU was formalised during the German-Nigerian Business Forum in Berlin on November 21, 2023. Under the terms of the MOU, BFREE, in conjunction with its international financing partners, will explore the acquisition of distressed loan portfolios from Union Bank, with a potential investment cap of $40 million. The key focus will be refinancing non-performing…
Read MoreUNION BANK AND BFREE FORGE STRATEGIC PARTNERSHIP TO REVITALIZE LOAN PORTFOLIOS
