Leading Nigerian tech firm, Wongafix has introduced Nigeria’s first digital lending solution platform targeted at low-income earners in partnerships with their employers.
According to the Managing Director and Co-founder of Wongafix,
Olabanke Adunni Nwaoze, the product will serve as relief for Nigerian low income workers who have been finding it difficult to have access to loans.
He added that he 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.” She added.
“Wongafix’s innovation seeks to address these gaps by working hand-in-hand with employers to validate and support lending.” she added.
Further, 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 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.
While disclosing that efforts are underway to extend the initiative to all the states across the federation, Olabanke revealed that corporate organisations already are keying into the initiative as a way to improve the welfare of their employees.