Credit Programme To Boost Digital Readiness, Says CREDICORP

CREDICORP has launched a new national digital device credit programme aimed at making smartphones, laptops and other essential digital tools more accessible to working Nigerians.

The initiative, announced this week, marks a major push to improve digital participation and productivity across the country.

The organisation said, the rollout is a natural extension of its ongoing efforts to support asset acquisition among Nigerians. Over the past year, CREDICORP has backed thousands of citizens in securing mobility solutions that ease daily commutes and renewable energy systems that keep homes and small businesses powered.

According to the institution, the impact has been consistent: when Nigerians access essential assets through fair credit, their quality of life improves quickly.

The newly launched programme focuses squarely on digital devices, tools that have become indispensable for education, work and business. CREDICORP noted that, as more activities move online, access to smartphones and laptops is no longer a luxury but a requirement for productivity and economic relevance.

“A smartphone can connect a young graduate to job portals and remote opportunities, while a laptop can help a civil servant stay more productive. Traders, artisans and small business owners also rely on digital tools to reach customers and manage operations,” the organisation said.

The national rollout builds on a pilot phase carried out through its partnership with E-Finance Company, with technology support from Credlock. During the first phase, more than 1,000 Nigerians obtained smartphones via affordable credit, many for the first time. Strong repayment rates and swift adoption, CREDICORP said, reflect both the demand and the necessity for such support.

With the expanded programme, the organisation aims to reach more than 15,000 Nigerians, enabling them to acquire smartphones or laptops that can enhance their income potential and overall productivity.

To deliver the initiative at scale, CREDICORP is working through E-Finance Company as a participating financial institution, while Credlock provides the technology backbone. Credlock’s intelligent device-collateral system secures the credit process by allowing borrowers to access devices without prohibitive upfront costs.

Speaking on the launch, CREDICORP’s managing director, Uzoma Nwagba, said the expansion aligns with the organisation’s mission of improving lives through inclusive credit.

“From mobility to renewable energy, we have witnessed the profound impact that access to credit can have on people’s daily lives,” Nwagba said.

Credlock’s CEO, Dayo Fabayo, underscored the importance of digital devices in shaping financial futures. “Every smartphone represents potential, to learn, to work, to access opportunity and to live with dignity,” he said. “At Credlock, we believe the device in someone’s hand can be the bridge to their financial future. Working with CREDICORP and E-Finance allows us to scale that vision to millions of Nigerians, ” he added.

The programme forms part of CREDICORP’s broader agenda to deepen consumer credit and improve the standard of living nationwide. By broadening access to digital tools, the institution aims to support a more connected, productive and future-ready Nigeria.