Key providers you need as a lender in Sierra Leone: Credit reporting agencies and more
If you think you have trust issues, try being a lender in Sierra Leone. It’s a constant battle to separate fact from fiction, and every loan feels like a gamble. In the second quarter of 2024, Sierra Leone’s NPL rate fell to 7.5%, a significant drop from 12.1% in 2023. Great news, right? But let’s […]
Ethical ways to recover loans
A not-so-fun fact you need to know about running a lending business is that the biggest challenge every Nigerian lender faces is not technology, capital or regulatory constraints, but how to recover loans and the scary fact is that Nigerians don’t pay back their loans. While one might be tempted to sympathize and assume that […]
5 reasons why debit cards don’t work for loan collections in Ghana
Relying on debit cards for loan repayments in Ghana might just be a fast track to rising defaults and frustrated borrowers. Here’s why debit cards simply don’t work well for loan collections in Ghana.