Tag: micro-credit

FINTECH LENDING UPDATES IN NIGERIA (APRIL 2023)

The consumer lending sub-sector in Nigeria is rapidly growing in terms of the number of market entrants (over 200 loan companies operating in the country), the licensing requirements and regulatory changes introduced to address consumer complaints against some business malpractices like privacy rights violations and …

HOW TO SET UP A PAYMENT SYSTEMS COMPANY IN UGANDA

Just like in Nigeria and many other African countries, payment products and services are well regulated in Uganda by the country’s apex bank, the Bank of Uganda (“BoU”), through its National Payment System Department (“NPSD”). The NPSD oversees the national payment system of the country …

HOW TO SET UP A MONEY LENDER COMPANY IN UGANDA

Uganda is increasingly becoming a destination not only for tourism but also Fintech businesses as digital lending businesses are springing up and thriving in the East African country of about 47 Million population (over 50% of which have mobile telephone and internet access) as well …

FCCPC GRANTS APPROVAL TO ACETECH FINANCE LTD

Our clients, Acetech Finance Limited has received provisional approval of the Federal Competition and Consumer Protection Commission (“FCCPC”) as digital money lending company in Nigeria. The FCCPC approval is based on compliance with the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, established by …

HOW TO GET MONEY LENDER’S LICENCE IN ANAMBRA STATE

Introduction Consumer lending is a viable business in almost all parts of Nigeria in view of the large population of over 200 Million people (majority of which are young people), the technological infrastructure and enabling regulatory environment. Anambra State is among the top five (5) …
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