In a move to boost financial access for women in Nigeria’s informal economy, the Federal Government, through the Nigerian Consumer Credit Corporation (CREDICORP), has rolled out a new credit initiative targeting 10,000 market women across 224 markets in 28 states.
The programme officially kicked off at Ariaria International Market in Aba, Abia State, where over 1,000 women gathered to participate in the launch event. Many received credit support of up to ₦100,000 for their inventory, offered at interest rates significantly reduced by 50% compared to current market levels.
The credit intervention is being delivered in partnership with Sytiamo Technologies Limited, and is designed to support women entrepreneurs in scaling their micro-businesses without the pressure of high interest rates.
“Supporting women with credit is not just a social good; it’s good business,” said Uzoma Nwagba, Managing Director of CREDICORP.
“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.”
Nwagba’s remarks were delivered on his behalf by Aisha Abdulahi, Executive Director of Credit and Portfolio Management at CREDICORP, who attended the Ariaria launch.
The programme aims to address longstanding barriers to credit access for women in local markets, many of whom operate within the informal sector and have limited exposure to conventional financial services.
Also speaking at the event, Michael Ogbaa, Managing Director of Sytiamo Technologies Limited, highlighted the partnership’s impact on livelihoods.
From within the market community, the initiative received strong endorsement.
Chinyere Okoro, President of Ariaria Textile Market Women’s Association, spoke of this programme as an opportunity for women traders to grow their businesses with affordable funding.
The credit initiative represents part of a broader effort by CREDICORP to support financial inclusion, empower women in the economy, and enable micro-enterprises to thrive.
