Lenders battle against fraudsters; a case for an industry blacklist
In Kenya, the lenders battle against fraudsters with an estimated 3.2 million people have been blacklisted on Kenya’s TransUnion credit reference bureau.
Why Nigerian banks will never win the consumer credit game
Consumer lending is basically loans to individuals, like me and you, to purchase goods and services. Of the forms of consumer lending, credit cards are perhaps the most popular. Yet, if you’re a Nigerian reading this, that last sentence is not very relatable, mostly because not only is consumer lending uncommon in Nigeria, credit card […]
Nigeria’s problems will be solved by access to credit
Access to credit has historically been difficult in Nigeria. This is because, for years, big banks were the sole providers of financial services and those banks didn’t care too much for retail banking.
What are payday loans and how to make the best of them?
When emergencies strike and funds are needed, it is often difficult to know where to turn. As a Nigerian, it can be quite difficult to save for rainy days, as every day is well…quite rainy. This means that at the same time, family and friends may not be able to help you out of such […]
Word on the street: Loans are bad! Maybe not
The Nigerian’s perception of loans can be likened to the human’s fear of wild animals; scary! Okay, maybe that analogy is layered a little too thick, but you must agree that Nigerians hate loans which is ironic because when they eventually get them, they never payback. To the crux of the matter, why do loans have […]
Why Nigerians don’t pay their loans
The frustration that comes from not being able to recover your money because Nigerians don’t pay back their loans on time isn’t up for debate. After all, we all get replete with stories of the high and mighty, and the not so mighty, dragging it out with banks regarding bad loans. “The Nigerian attitude to […]
How Blocka Cash got its lending groove
Blocka Cash is one of the fastest growing and the easiest digital lenders in Nigeria with a clear ambition to become the lender of choice in a market where over N74 trillion of credit gap is a perennial problem.
Lending as a side hustle: What I need to know
So, you want to branch out and earn some extra cash on the side. Becoming a small-scale lender might not have been the first idea on your list. Whatever your story is, the important thing is that you’re here to learn about lending as a side hustle
Why you need technology to scale your lending business
We’re in an age where technology shapes our lives. Technology impacts almost every sector of human life and businesses are not excluded. Today, technology is causing a revolution in the lending industry. For a long time, before technology improved the Fintech industry, banks were the known lending channels. But getting a loan from a bank […]
5 Tips that can help you become a more efficient lender
Too many people start a business without considering obtaining skills that’ll help the business succeed. The requirement goes beyond dedication to sustain a successful business. You can achieve business success by planning out all the necessary steps you need to achieve success. According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first […]
Why You Should Invest in a Lending Business
If you are interested in making extra cash by borrowing out some of your excess funds to individuals, then you consider investing in a lending business
How to Sell Your Loan Products
In our posts on getting your lending business up and running, we mentioned that the next step after creating your loan products was to invite borrowers to view and apply for them. In this post, we will be talking a bit about that process, which is really all about “selling” your loan products.
