Licensed digital lenders in Nigeria are helping women-owned businesses access fast, flexible, and collateral-free financing, closing a critical gap for female entrepreneurs, according to Gbemi Adelekan, President of the Money Lenders Association.
Speaking ahead of International Women’s Day 2026, Adelekan highlighted that many women entrepreneurs, especially in micro and informal enterprises, struggle to secure traditional loans due to lack of collateral, formal documentation, and credit history. Digital lenders, he said, are changing that by offering tailored, short-term loans that meet the real needs of women in business.
“Market women are the engine of Nigeria’s economy, but short-term cash gaps often limit their growth. Digital loans provide immediate support for restocking goods, managing cash flow, or seizing opportunities,” Adelekan explained.
He added that deploying female field agents and using data-driven credit assessments can further increase women’s access to digital financial services while reducing human bias in lending. Adelekan stressed that loans should be used strategically to grow businesses and strengthen financial independence rather than for consumption.
Digital lending, he said, is not just about credit—it’s about empowering women, supporting ambition, and enabling better decision-making across communities.
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