A digital lending provider, SeedFi, has reaffirmed its commitment to increasing Nigerians’ access to credit through financial education and trust-building efforts for the underprivileged.
The founder and CEO of SeedFi, Pelumi Alli, stressed that the idea of solving the financial difficulties a sizable percentage of the Nigerian populace experienced was the driving force behind the effort.
According to Alli, 67% of Nigerians don’t ask for credit, not even from friends and family, because of things like a lack of information for making wise decisions, the fact that some demographic groups can’t access formal financial services, financial illiteracy, and a lack of faith in the financial system.
In a press release, he stated, “SeedFi plans to offer not only credit but also financial education and trust-building activities for consumers. This will help to overcome these challenges and expand financial access to underserved groups.”
He stated that the company’s strategy includes imparting knowledge on creating a strong credit profile, managing one’s own finances, and offering adaptable repayment structures.
He continued by saying that the company would employ data-led services to provide user-centric financing solutions that might significantly improve people’s lives.
He emphasized SeedFi’s goal of establishing a society in which young Africans can obtain loans and funding to fulfill their aspirations.
SeedFi’s co-founder and chief commercial officer, Samaila Dogara, said that the business set itself apart from rivals by lowering the calculation of principal balance interest.
“With this strategy, a portion of each repayment goes towards lowering the balance due on the principal, which results in lower interest rates. Additionally, SeedFi gives customers the option to change the dates of their loan repayments for convenience.”
