CREDICORP Partners With Sytiamo To Empower Market Women In Aba

Nigerian Consumer Credit Corporation, CREDICORP, has announced its partnership with Sytiamo Technologies to empower market women in Aba, Abia State.

CREDICORP said the partnership with Sytiamo will provide affordable credit to 10,000 market women across 224 markets in 28 states, starting with Ariaria International Market in Aba.

Unveiling the partnership with Sytiamo in Aba on Thursday, 26th of June, CREDICORP said this 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,” 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.”

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.”

Speaking during the event, Mrs Aisha Abdullahi- ED Credit and Portfolio Management CREDICORP, said the initiative is to help traders get loans ranging from ten thousand to one million to boost their businesses.

She said the federal government under President Bola Tinubu knows the importance of Aba, the reason the initiative started in Ariaria International Market. She added that the loan comes with two percent interest rates making it easy for anyone to pay back.

Mrs. Abdullahi who urged market women to take the advantage and boost their business, said the creditors will not embarrass them by putting up their pictures on social media or using defamatory remarks on them when they default.

She however, urged the traders to always pay back on time to enable the creditors give others.

Addressing the press, Deacon Michael Anioji, the Chairman Ariaria International Market Aba, said he was pleased with the initiative and when he was informed about the program, the benefits it holds for the people of Aba, he gave them his full support.

He noted that although, he was given a short notice about the event but he consulted the Abia State governor, Alex Otti, he gave an approval because he is always out to support any initiative that is of benefit to the people of Abia.

Deacon Michael lauded the initiative and thanked those behind it, stressing that this will help traders boost their business.

On how they will enforce the repayment, in a situation where beneficiaries defaulted, Deacon Michael said it’s a loan and those who benefitted knows they will pay.

He further revealed that the it’s one of the reason before anyone takes the loan, they will first of all verify the person’s details and shop address so they can easily get the loan back when the person defaulted.

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.