Boosting trade in Nigeria: 1000 Aba market women benefit from low interest loan from CREDICORP

By Editor, Umuahia

L-R- Mrs Olanike Kolawole- ED Operations CREDICORP, Mr Micheal Ogbaa – MD Sytiamo Technologies, Mrs Aisha Abdullahi- ED Credit and Portfolio Management CREDICORP, xxxx Chairman Ariaria Market, Aba, Abia state, Mr Uyi Osagie- Delivery Manager- CRCDU, xxxxd Women leader, Ariaria Market, Aba, Abia state

Over 1,000 market women in Aba are to benefit from the consumer credit powered by the Nigerian Consumer Credit Corporation (CREDICORP).

The Nigerian Credit Corps is partnering the Sytiamo Technologies in the provision of affordable credit to thousands of market women across the country.

The women are to enjoy up to ₦100,000, at an interest rate slashed by 50% from current market rate.

The programme which was launched in Ariaria international market, Aba on Thursday will be extended to a total of 224 markets in 28 states. This initiative is aimed at expanding financial access to informal sector workers, particularly women, who are key players in local economies.

The program enables market women to support their micro-enterprises with accessible funding, free from the burden of high interest rates. According to the Managing Director of CREDICORP, Mr. Uzoma Nwagba, “Supporting women with credit is not just a social good; it’s good business. “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.”

Mrs. Aisha Abdulahi who represented the MD said the federal government supports the programme and emphasised that the money was loan which must be repaid and not grant.

For his part, Mr. Michael Ogbaa, Managing Director of Sytiamo Technologies, said, “Through this partnership, we are giving market women quick access to the capital they need to scale their businesses and improve their livelihoods.

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

Beyond improved access to credit, CREDICORP’s collaboration with Sytiamo is designed to support micro enterprises, and empower women in Nigeria’s informal economy.

Mrs. Nkiruka Akaegbu, a beneficiary expressed gratitude to the initiators of the credit facility, saying that the interest rate of 2% will go a long way in helping them utilise the funds as they should without so much stress.

Below is the link for interested women to apply: www.credicorp.ng/sytiamo-apply.