It has been opined that women have proven to be better custodians of credit with higher repayment rates than men.

This was announced by Mr Uzoma Nwagba, the Managing Director (MD) of Nigerian Consumer Credit Corporation (CREDICORP), during the launch of the CREDICORP program/initiative for low-interest credit disbursement, held in Aba, Abia State, for traders.

The MD, who was represented by the Executive Director, Credit and Portfolio Management, Mrs Aisha Abdulahi, therefore, underscored support for granting credit to women, asserting, “Supporting women with credit is not just a social good; it’s good business. Women have proven to be better custodians of credit, with higher repayment rates than men.

“With 66.7 per cent of our executive team and 50 per cent of our management being women, this partnership aligns with our belief that empowering women leads to stronger, more sustainable communities,” he said.

Nwagba also announced Styiamo Technologies, with Mr Michael Ogbaa as the Managing Director, as one of Credicorp’s newest partners. Through this partnership, 1,000,000 market women across 224 markets in 28 states will be provided with affordable Credit, starting with Ariaria International Market in Aba, in 2025.

This, according to Abdullahi, is in line with the initiative aimed at expanding financial access to informal sector workers, especially women, who are key players in local economies.

At the launch of the programme/initiative, over 1,000 women received up to N100,000.00 consumer credit at an interest rate slashed by 50% from current market levels.

President of the Ariaria Textile Market Women Association, Mrs Chinyere Okoro, expressed elation that the programme/initiative has provided the women with the enabling finance to grow their businesses.

She noted that Sytiamo Technologies’ collaboration has improved access to credit, supported microenterprises, and empowered women in Nigeria’s informal economy, citing Aba as a significant beneficiary.