The Nigerian Consumer Credit Corporation (CREDICORP) has partnered with Sytiamo Technologies to provide affordable credit to 10,000 market women across 224 markets in 28 states, starting with Ariaria International Market in Aba. This initiative aims to expand financial access to informal sector workers, particularly women, who play a key role in local economies.
“Supporting women with credit is not just a social good; it’s good business,” said Mr. Uzoma Nwagba, Managing Director of CREDICORP. Women are proven to be better custodians of credit, with higher repayment rates than men. With 66.7% of our executive team and 50% of our management being women, this partnership aligns with our belief that empowering women leads to stronger, more sustainable communities.”
At the launch in Ariaria Market, over 1,000 women gathered, with many receiving consumer credit for their inventory of up to ₦100,000, at an interest rate slashed by 50% from current market levels. This program enables market women to support their micro-enterprises with accessible funding, free from the burden of high interest rates.
Mr. Michael Ogbaa, Managing Director of Sytiamo Technologies, emphasized, “Through this partnership, we are giving market women quick access to the capital they need to scale their businesses and improve their livelihoods.”
The Chairman of the Ariaria Textile Market Women Association shared, “This program gives us the chance to grow our businesses with affordable funding.”
CREDICORP’s collaboration with Sytiamo is designed to improve access to credit, support micro enterprises, and empower women in Nigeria’s informal economy.
Interested women can apply here: www.credicorp.ng/sytiamo-apply