Follow Us on Google
By Chinenye Anuforo
FairMoney Microfinance Bank has launched an Asset Financing Solution aimed at expanding access to vehicle financing for mobility entrepreneurs and transport operators across Nigeria.
The initiative, according to the technology-enabled financial institution, is designed to support transporters and delivery merchants seeking business-use vehicles through structured financing arrangements subject to credit assessment and eligibility requirements.
The launch comes as Nigeria’s transportation and logistics sector continues to experience sustained activity, with reported growth estimated at between 9.87 and 10.1 per cent in late 2025.
FairMoney said the financing solution seeks to address one of the major challenges facing operators in the sector — limited access to structured financing for transport assets.
Under the programme, eligible applicants can access flexible repayment plans tailored to the daily and weekly income cycles common among transport and logistics businesses.
The bank noted that its technology-driven onboarding and risk assessment system allows applicants to undergo a structured evaluation process designed to support operational continuity and business growth.
Managing Director of FairMoney Microfinance Bank, Henry Obiekea, said the initiative aligns with the institution’s broader goal of promoting financial inclusion and supporting small business operators.
“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,” he said.
Obiekea added that the solution was developed to provide structured asset financing for eligible operators within the mobility ecosystem.
According to him, the product marks an expansion of FairMoney’s lending portfolio beyond personal and working capital loans into commercial asset financing.
He explained that by enabling operators to build verifiable credit histories through repayment records, the initiative could support greater participation in the formal financial system.
“The intra-state transportation sector in Nigeria is experiencing sustained demand and market activity, offering opportunities for mobility and transport operators,” Obiekea said.
“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 through the FairMoney Business platform and designated partner hubs across major cities.
FairMoney said the initiative forms part of its broader commitment to responsible lending, SME development and financial inclusion in line with regulatory guidelines.
The bank also noted that it continues to strengthen its business banking services for SMEs and merchants through merchant lending as part of its long-term strategy to deepen business banking capabilities.
Established as a technology-enabled financial institution, FairMoney provides digital financial services including loans and banking solutions for individuals and businesses.
