FairMoney expands access to asset financing for Nigeria’s mobility entrepreneurs

FairMoney Microfinance Bank, a technology-enabled financial institution, today announced the official launch of its Asset Financing Solution. This strategic initiative is designed to expand access to asset financing for mobility entrepreneurs across the country through an application process subject to credit assessment and eligibility requirements.

The Nigerian transportation and logistics sector continues to record sustained market activity with reported growth rates of approximately 9.87%–10.1% in late 2025. As road freight and passenger transport remain the nation’s dominant modes of transit, FairMoney’s new initiative aims to improve access to structured asset financing for thousands of transporters and delivery merchants.

By providing access to business-use transport assets, the product helps address limited access to structured financing for micro-SMEs and supports activities within Nigeria’s logistics and mobility sector.

Mobility entrepreneurs seeking to acquire vehicles can now access flexible repayment plans through an application process that is subject to credit assessment and eligibility requirements. Leveraging its technology-enabled onboarding and risk assessment capabilities, applicants can move through a structured onboarding and evaluation process.

Repayment structures are specifically tailored to the daily and weekly cash-flow realities of mobility businesses, supporting operational continuity and business growth within structured repayment arrangements.

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“Our mission has always been to increase financial inclusion and create income opportunities by supporting individuals and small business operators in growing their businesses. With this solution, we are focused on supporting small business operators and mobility entrepreneurs who contribute significantly to transportation and commercial activity,” said Henry Obiekea, Managing Director of FairMoney MFB.

“The solution is designed to provide structured asset financing for eligible operators,” he added.

This initiative marks a significant expansion of FairMoney’s product ecosystem, moving beyond personal and working capital loans into commercial asset financing. By helping entrepreneurs build a verifiable credit history through vehicle repayments, FairMoney is supporting financial inclusion and participation within the formal economy.

“The intra-state transportation sector in Nigeria is experiencing sustained demand and market activity, offering opportunities for mobility and transport operators,” Obiekea added. “The Asset Financing Solution ensures that costs are spread into manageable instalments, thereby supporting small business operations and broader economic participation.”

The programme is now open to eligible applicants via the FairMoney Business platform and through designated partner hubs across major cities.

Through this model, FairMoney MFB reaffirms its commitment to fostering broader economic inclusion—integrating informal sector workers into the formal financial system, supporting broader financial inclusion and formal economic participation.
FairMoney also continues to strengthen its business banking offering for SMEs and merchants through merchant lending.  This reflects the institution’s long-term vision to continue expanding its business banking capabilities.  The lending capacity by FairMoney forms part of the bank’s broader commitment to responsible lending, SME development, and financial inclusion in line with applicable regulatory guidelines.

The Asset Financing Solution forms part of the Bank’s broader commitment to responsible lending and structured financing for eligible operators.