…as entrepreneurs capitalise on changing consumer habits in challenging timesSectors like digital lending and solar energy thrive by addressing immediate needs and market gapsPAY ATTENTION: Find it fast with our new search feature at Legit.ng! Pascal Oparada is a journalist with Legit.ng, covering technology, energy, st…

…businesses, which continue to face financing challenges. According to the bank, its digital lending platforms and partnerships with commercial and microfinance banks will provide MSMEs with easier access to funding. The report stated, “In 2026, BOI’s digital loan platform and on-lending partnerships with microfinance a…

Digital lending apps in Nigeria face scrutiny over annual interest rates exceeding 300%, affecting vulnerable borrowersConsumers suffer from exploitative lending practices, trapped in cycles of recurring debt and hidden chargesCall for CBN to enforce interest rate caps and enhance consumer protections to safeguard low-…

…on the updated FCCPC listFind it fast with our new search feature at Legit.ng! Nigeria’s digital lending space has grown rapidly, but so have concerns over harassment, hidden charges, and data privacy violations. As the Federal Competition and Consumer Protection Commission (FCCPC) resumes stricter regulation of online…

…economy, and Africa’s with it, races ahead on instant payments, mobile banking, and digital lending, that lesson has only sharpened. Cybersecurity can no longer be viewed as a back-office technology concern. It has become a trust issue, a financial stability issue, and a board-level business priority. Cyber Risk Is Now…

…their financial data, allowing the development of personalised financial products, digital lending solutions, payments innovation and other value-added services. However, experts have warned that the success of the framework will depend on robust governance structures, strong cybersecurity controls, effective risk mana…

…Curiously, larger loans tend to perform better, which runs directly against the original digital lending thesis (that small loans were supposed to be safer because they were diversified, short-term and distributed at almost no cost). Next Wave continues after this ad. Road to Moonshot Nairobi is a curated gathering of…

…to build a deposit base of more than ₦40 billion ($29.13 million) as it expands from digital lending into banking and payments after acquiring an MFB. An MFB licence allows fintechs to accept deposits, give loans, and earn interest income from lending, reducing their reliance on transaction fees. But the licence does m…

…asset financing company is increasingly using those devices as a gateway into digital credit. According to the company, it has now served nearly 10 million customers across Africa and deployed more than $2 billion in credit. While smartphones remain its customer acquisition tool, M-KOPA is increasingly making money fro…