Foremost Consumer lending and financial technology company, KiaKia,has disclosed that it has facilitated, structured, originated and disbursed over N4.5 billion as personal and business loans to individuals and Micro, Small, and Medium Enterprises (MSMEs) across Nigeria since inception.
The company has also launched an android based app targeted at persons 18 and above with legitimate income through which users can access loans as well as invest in the funding of secured personal and business loans originated, underwritten and booked by KiaKia across the country. Such individual can in turn earn quarterly, bi-annual and yearly interest income with rates varying between 10% and 40% depending on the package and tenure subscribed to.
KiaKia’s Co- Founder and Chief Operating Officer,Chiemeziem Anyadike disclosed that prior to the launch of its peer-to-peer (P2P )App launch, the peer-to-peer lending investment was exclusive to high income individuals.
According to Ismail Abiodun, the head of non-interest services for the company, the App also offers Halal option, where enables individuals to earn predetermined profit by funding businesses as a substitute for interest. Individuals can lend out a minimum of N50,000 and a maximum of N2.5m for a minimum of 6 months and maximum of 18 months as against the previous supposed, financially discriminatory minimum threshold of N1,000,000.
KiaKia has been at the forefront of sustained value creation and delivery to the supply and demand end of the service and helping to provide have timely access to capital to MSMEs while also creating value and providing security for fund owners for their funds committed to the company.In 2019 KiaKia clinched the InFINCA Award for Best Peer-To-Peer Platform in Nigeria