A leading tech firm, Wongafix has introduced Nigeria’s first digital lending solution platform targeted at low-income earners in partnerships with their employers.
According to Olabanke Adunni Nwaoze, managing director and co-founder of Wongafix, the product will serve as relief for Nigerian low income workers who have been finding it difficult to have access to loans.
The new product affords employees the opportunity to have access to quick, affordable, and responsible loans
“Workers in sectors such as manufacturing, logistics, education, and healthcare among others are to benefit from the new product.
“The initiative was to bridge the gap between the banked and underbanked workforce in Africa who have no access to loans due to lack of collateral and credit history, or formal banking access.
“Wongafix’s innovation seeks to address these gaps by working hand-in-hand with employers to validate and support lending,” Adunni Nwaoze added.
She explained that the system links with the employer’s payroll systems, allowing employees to have easy access to funds and stress-free repayment. The initiative, she noted, was to bridge the gap between the banked and underbanked workforce in Africa, who have no access to loans due to lack of collateral and credit history, or formal banking access.
She said that efforts were underway to extend the initiative to all the states across the federation, as corporate organisations were already keying into it to improve the welfare of their employees.
