FairMoney Microfinance Bank has deployed a new technology-enabled asset financing solution designed to expand structured credit access for mobility entrepreneurs across Nigeria, reinforcing its push into digital SME lending infrastructure.
The rollout introduces a data-driven financing model that allows transport and logistics operators to acquire business-use vehicles through a digitally verified application flow, combining credit scoring, eligibility screening, and risk-based assessment within the bank's digital business ecosystem.
Nigeria’s transport and logistics sector is one of the country’s largest informal employers, with road transport handling over 90% of passenger and freight movement.
The sector grew by about 10% in late 2025, supported by rising e-commerce, urban mobility demand, and last-mile delivery services.
According to managing Director Henry Obiekea, the solution extends the bank’s digital lending stack beyond working capital credit into asset-backed financing, with an emphasis on building transaction-level credit histories for informal sector operators transitioning into the formal financial system.
Despite this growth, access to structured asset credit remains limited for many small mobility businesses, with Central Bank of Nigeria data showing a large share still depends on informal lending due to collateral requirements.
The system is engineered to align repayment architecture with real-time cash-flow patterns typical of mobility operators, enabling daily and weekly instalment structures supported by automated credit monitoring and digital onboarding pipelines.
Obiekea noted that the platform integrates credit assessment algorithms to evaluate applicant viability while improving financial inclusion through scalable, tech-enabled distribution channels.
The launch signals the bank's broader shift toward embedded finance for SMEs, positioning its infrastructure as a financing layer for real-economy operators within transport and logistics value chains.
The bank said the system will continue to evolve as part of its digital lending architecture, with a focus on responsible credit deployment, SME scalability, and expanded participation in Nigeria’s formal financial ecosystem.
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