How to get a lending license in Sierra Leone
License

How to get a lending license in Sierra Leone

If you operate without a lending license in Sierra Leone, you shall be punishable by a fine not exceeding Le5,000,000, or by imprisonment for a term not exceeding 180 days, or both.  But, that’s not the only reason why you need one, right?  Predatory lending thrives in markets with no regulation. While there may be […]

Lending with USSD – opportunities, challenges, and limitations
Industry Information

Lending with USSD – opportunities, challenges, and limitations

While access to mobile phones is available, smartphones are not as easy to come by. For this reason, an alternative lending channel like USSD that is easily accessible becomes necessary.

FCCPC regulations for digital lenders
Information

FCCPC regulations for digital lenders

The Federal Competition and Consumer Protection Commission (FCCPC); the regulatory agency responsible for ensuring consumer protection and regulating competition in Nigeria, recently released a Limited Interim Regulatory/Registration Framework for Digital Lending. This regulatory framework is enforceable whilst they work on a more comprehensive framework to guide the operations of digital lenders in Nigeria. The Commission […]