The Centre has concluded a digital transformation strategy advisory with the International Finance Corporation (IFC), as part of its overall digital transformation journey. The advisory began in October 2020, with a series of virtual workshops between the Centre’s team and consultants from the IFC, covering core areas such as customer experience, products and channels, operations and culture, partnerships, ecosystems and technology. The result is a 3 year road map that will position the Centre as a leading microfinance institution for the present and the future, and ensure the fulfillment of our digital ambitions.
Funding
The Centre secured a debt facility from FS Impact Finance, a group company of the renowned Frankfurt School of Finance & Management in June 2021. The transaction was concluded after a novel virtual due diligence exercise, and marked the return of the Centre to international microfinance investment market since 2018, due to the scarcity of appropriate hedging options and the impact of COVID-19. The funding will contribute to the growth of the lending portfolio, as the Centre is set to rebound from the effects of the pandemic on its operations. Other funding arrangements with international investment vehicles are being concluded.
Performance Ratings
The Centre underwent its 6th international Rating Exercise and maintained excellent rating results, receiving an α- in the institutional rating category and a four (out of five) stars in the social performance rating category. The rating was carried out by MicroRate, the foremost international microfinance rating agency. The results show excellent product offering, robust solvency, efficient operations, strong corporate governance and transparency, as well as solid social and financial balance, despite the impact of the pandemic on the economy. The rating exercise also involved the second re-validation of the Centre’s Client Protection Principles (CPP) certification, and the results of the re-validation are expected in November 2021.
Grooming Centre and Sesor Empowerment Foundation renew partnership.
Thursday, May 27, 2021 – Grooming People for Better Livelihood Centre renewed its partnership support to Sesor Empowerment Foundation (Sesor) by donating ₦14.13 million towards the provision of relief, funding and housing to the Internally Displaced Persons in Lagos and Benue States, as well as the ongoing work at the Sesor’s Safe Day Space; Centres designed to train the women in financial literacy and business management.
As part of the MOU signing ceremony which took place at the Grooming Centre, Head Office, Ejigbo, Lagos, a cheque donation of N14,250,000.00 was presented to Sesor Empowerment Foundation by Grooming Centre to support the foundation in its work with IDPs. The partnership, now in its 7th year, also moves to sustain the notable efforts made by Sesor Empowerment Foundation in providing nutritional & psychological support, financial independence, educational support, housing support, as well as the option of becoming full members of Grooming Centre with access to financial literacy training and financial support as they resume their normal lives.
of doing this is giving them .” Dr. Nwabunka said.The renewed partnership is set to sustain the notable effort made by the foundation in ensuring the stable and steady reintegration of IDP’s into the society. Through the partnership, the women will be trained in financial literacy and business management
New Facilities
Grooming Centre officially opened its 4-storey Learning Hub and the Staff Fitness Centre in a socially distanced gathering on Tuesday, December 15 2020. The Fitness Centre is the first of its kind at the Centre and a massive step towards promoting and improving health, wellness and work-life balance among staff members. The Fitness Centre will foster team building, reduce stress and boost productivity while the Learning Hub contains an e-library, workspace, audiovisual studio, as well as multiple seminar rooms, and will facilitate physical and virtual capacity building sessions for staff and the community. .
Grooming Centre and Sesor renew partnership support.
L-R: Chikezie Egbulefu, Head, Special Project, Grooming Centre; Ier Jonathan-Ichaver, Co-founder, SESOR Empowerment Foundation; Dr. Godwin Nwabunka, CEO, Grooming Centre; Nkanu Egbe, Trustee, SESOR Empowerment Foundation, at the MOU signing ceremony.
Friday, February 28, 2020 – Grooming People for Better Livelihood Centre renewed its partnership support to Sesor Empowerment Foundation (Sesor) by donating ₦10.6 million towards the continuing work of Sesor’s Safe Day Space initiative, as well as the rehabilitation, empowerment and reintegration of Internally Displaced Persons (IDPs) in Lagos and Benue States.
As part of the MOU signing ceremony which took place at the Grooming Centre, Head Office, Ejigbo, Lagos, a cheque donation of N10,662,500.00 was handed over to Sesor Empowerment Foundation by Grooming Centre to support the foundation in its work with IDPs. This partnership, now in its 6th year is focused on the significant efforts by SESOR Empowerment Foundation in providing nutritional & psychological support, financial independence, educational support, housing support as well as recreational facilities for IDPs and their families.
Speaking at the signing, which held at Grooming Centre’s Head Office, the Co – founder of Sesor Empowerment Foundation, Ier Jonathan-Ichaver, expressed her appreciation for the invaluable partnership and support the Centre has provided, through the years, in creating more awareness of the situation of displaced women and children in Nigeria.
While signing the Memorandum of Understanding (MoU), the CEO of Grooming Centre, Dr. Godwin Nwabunka expressed his gratitude for the impact made by Sesor Foundation in the lives of hundreds of internally displaced women and children through the years, and reiterated the Centre’s commitment to this cause and the general work of empowerment.
Grooming Centre donates E-library
Grooming Centre continues to provide corporate social support to the bottom of the pyramid in line with its mission and vision. In this vein, the Centre demonstrated its belief in the provision of quality education to every child by donating an E-library to St. Francis Catholic Secondary School Idimu, Lagos. The donation will further prepare the students for an increasingly digital future.
The E-library was presented on July 20, 2019 at the Graduation ceremony of the Class of ’19 by the Centre’s Chief Executive Officer and Guest Speaker of the occasion, Dr Godwin Nwabunka to the School Administrator, Rev. Fr. Leo Muoneme, SJ., with members of the Centre’s Management Team in attendance.