CREDICORP launches inform sector
credit for 10,000 market women in Aba

The Managing Director Nigeria Consumer Credit Corporation
(CREDICORP) Mr Uzoma Nwagba, has the Federal Government Under President Bola Tinubu, CREDICORP volunteered to assist Nigerians access loans at low interest rates to grow their businesses.

Nwagba who spoke in Aba the commercial hub of Abia State on Thursday said 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.

The MD who was represented by Mrs Aisha Abdulahi, Executive Director CREDICORP the initiative is aimed at expanding financial access to informal sector workers, particularly women, who are key players in local economies.

“Supporting women with credit is not just a social good; it’s good business,”Nwagba said.

According to him, “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.

Also speaking Mr. Michael Ogbaa, Managing Director of Sytiamo Technologies, urged Aba businesswomen to embrace the CREDICORP loan scheme emphasizing that there’s nothing political about it.

“Through this partnership, we are giving market women quick access to the capital they need to scale their businesses and improve their livelihoods.

All that is required from the beneficiaries is to fill the form and we will run a credit check on their account and once they are not on loan they will be credited.

The Federal Government has made it easy, as a beneficiary you are not going to the bank, but the bank will come to your shop. So we want to help everyone, even if you don’t believe in the government, the government has come to help you, if you borrow one million naira and pay you can borrow again and even double it, if you are tennant you can even become landlord.

Mrs. Chinyere Okoro, President of the Ariaria Textile Market Women Association, shared, “This program gives us the chance to grow our businesses with affordable funding.”

Chairman Ariaria Textile Market Women Association Mr Michael aniorji, commended CREDICORP for extending scheme to women in the market. He urged the beneficiaries to endeavour to repay the loan, adding that the union will lock the shop of defaulter if they fail to pay.

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.