FairMoney has launched Asset Financing Solution to boost mobility entrepreneurs in Nigeria.
NewsOnline Nigeria reports that FairMoney has announced the launch of its new Asset Financing Solution aimed at expanding access to structured financing for mobility entrepreneurs and small business operators across Nigeria.
The technology-enabled microfinance bank disclosed that the initiative is designed to support transporters, delivery merchants, and logistics operators seeking access to business-use vehicles through flexible repayment arrangements subject to credit assessment and eligibility requirements.
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According to the company, the Nigerian transportation and logistics sector continues to witness sustained market growth, with road freight and passenger transportation remaining the country’s dominant transit system. The newly introduced financing solution is expected to help bridge financing gaps affecting micro, small, and medium-sized enterprises operating within the mobility ecosystem.
Under the initiative, eligible applicants can access vehicle financing through a technology-driven onboarding and risk assessment process tailored to the operational realities of transport and logistics businesses. The repayment structure is designed to align with the daily and weekly cash flow patterns of mobility entrepreneurs, helping operators maintain business continuity while gradually paying for assets.
Speaking on the development, Managing Director of FairMoney MFB, Henry Obiekea, said the initiative aligns with the institution’s broader mission of promoting financial inclusion and supporting income generation for entrepreneurs.
“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 mobility entrepreneurs and transport operators who contribute significantly to commercial and transportation activities across the country,” he said.
Obiekea noted that the solution was developed to provide structured asset financing opportunities for qualified operators while encouraging participation in the formal financial system.
The launch marks a major expansion of FairMoney’s product offerings beyond personal and working capital loans into commercial asset financing. The bank stated that the initiative would also help entrepreneurs build verifiable credit histories through consistent repayment performance.
He further explained that the transportation sector continues to present significant economic opportunities for operators, adding that the financing model would make asset ownership more accessible through manageable instalment payments.
“The intra-state transportation sector in Nigeria is experiencing sustained demand and market activity, offering opportunities for mobility and transport operators. The Asset Financing Solution ensures that costs are spread into manageable instalments, thereby supporting small business operations and broader economic participation,” Obiekea added.
FairMoney disclosed that the programme is currently open to eligible applicants through the FairMoney Business platform and designated partner hubs located across major Nigerian cities.
The company also reaffirmed its commitment to responsible lending, SME development, and broader financial inclusion in line with regulatory guidelines, noting that the initiative forms part of its long-term strategy to strengthen business banking services for merchants and small businesses in Nigeria.
