WorldStage– CREDICORP is launching a national digital device credit program that will make smartphones, laptops, and other essential digital tools more affordable for working Nigerians.
According to a statement, the rollout is building on the success of the pilot phase already completed under the partnership.
“In the first phase, CREDICORP, working through E-Finance Company with technology support from Credlock, enabled over 1,000 Nigerians to access smartphones through affordable credit, many for the first time,” the statement said.
“The strong repayment performance and the speed of adoption demonstrated both the appetite and the national need for this kind of support. With this new phase, CREDICORP is poised to scale the program significantly, targeting over 15,000 Nigerians who will be able to access smartphones or laptops that directly enhance their productivity, income potential, and digital participation.”
To deliver the initiative at scale, CREDICORP said it was working through one of its Participating Financial Institutions, E-Finance Company, with technology support from Credlock, whose intelligent device-collateral system allows for secure, responsible, and efficient access to credit.
“Together, E-Finance and Credlock will ensure that Nigerians can seamlessly apply for, finance, and collect the digital devices they need, without the heavy burden of upfront payments,” the statement said.
Speaking on the launch, CREDICORP’s Managing Director, Uzoma Nwagba, noted that “this is a natural progression of CREDICORP’s work. “From mobility to renewable energy, we have witnessed the profound impact that access to credit can have on people’s daily lives.
“Nigerians are ambitious and hardworking; they simply need fair pathways to acquire the tools that move them forward. Digital devices now sit at the center of learning, earning, and productivity, and expanding access to them is a critical step in building a more digitally ready nation.”
Credlock’s CEO, Dayo Fabayo, emphasized the power of turning everyday devices into pathways for progress, saying, “Every smartphone represents potential to learn, to work, to access opportunity, and to live with dignity. 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.”
The initiative is part of CREDICORP’s broader mission to expand consumer credit and improve the quality of life across the country. By widening access to digital tools, CREDICORP is supporting a more connected, productive, and future-ready Nigeria, one where every citizen can thrive.
Nigerians interested in financing their digital devices are advised to begin the process by participating in CREDICORP PFIs via www.credicorp.ng/apply
