WATCH THE VIDEO HERE The Nigerian Consumer Credit Corporation (CREDICORP) has announced the commencement of a new project called S.C.A.L.E (Securing Consumer Access for Local Enterprises), which aims to provide credit for Nigerian consumers to purchase locally manufactured goods and services. The Corporation unveiled the initiative on Monday, noting that it would channel its credit-backed consumers to purchase goods and services from local vendors and manufacturers. Emphasizing the need to grow Nigeria’s local industries, CREDICORP said it targets one million consumers under the initiative. The Corporation said the initiative is focusing on local manufacturers in different sectors including: “S.C.A.L.E. is a bold step toward supporting Nigerian enterprises by accelerating demand, which in turn grows local industries and creates jobs. This program connects credit-backed consumers with credible local manufacturers and vendors across critical sectors. “CREDICORP, via S.C.A.L.E, seeks to drive 1 million credit-backed consumers to local vendors and manufacturers,” the Corporation stated. According to CREDICORP, local vendors and manufacturers are expected to register for phase one of the initiative before December 15, 2024. Just last month, CREDICORP unveiled a similar initiative called Credit Access for Light and Mobility (CALM) Fund aimed at providing consumer credit to help Nigerians access CNG conversions and solar home systems through partner financial institutions. As part of moves to perfect the consumer scheme, CREDICORP also recently announced a partnership with the National Identity Management Commission (NIMC) to fast-track the building of credit scores for all Nigerians with the National Identification Number (NIN).
CREDICORP unveils project S.C.A.L.E to fund purchase of locally manufactured goods
