Egoras Unveils Zero-interest Financing Opportunities For Nigerian Businesses

Egoras has announced the launch of its zero-interest microcredit services to provide simplified financial solutions to small-business owners.

This is in a bid to increase access to funding for small enterprises through an uncollateralized microcredit platform that eliminates financial intermediaries through a decentralized financial protocol that addresses the peculiar challenges affecting the Nigerian-microfinance sector.

The strategic launch of instant interest-free loans further aims to revolutionize the Nigerian-financial ecosystem through the introduction of a novel business model that thrives on the exchange of fairly-used assets in part payment for another device. This invariably provides small-business enterprises with access to instant credit facilities that are either backed by physical or crypto assets while also placing more value on used electronic assets.

Commenting on the launch of the instant interest-free loans, Ugoji Harry, the Chief Executive Officer of Egoras, noted that the recent development reinforces the company’s commitment to cater for the financial needs of small enterprises through leveraging the decentralized capabilities of blockchain technology to facilitate microcredits across Nigeria, including the African continent.

“Our vision as a fintech company is to build a digital ecosystem that thrives on blockchain technology which empowers small-business owners to access instant uncollateralized microcredits seamlessly. This is in a bid to promote economic growth and development across Nigeria, including the African continent, through the creative elimination of financial institutions that make access to credit facilities difficult due to high-interest rates. It is on this backdrop that we have developed a unique protocol system that is centred around the exchange of used assets for repayment purposes to support the growth of Nigerian business, particularly located in either unbanked or underserved communities in Nigeria, including the African continent at large,” he said.

Speaking on the development, Moses Mudiaga, Media Director for Egoras, stated that the adopted business model of the organisation would redefine the operations of the financial ecosystem across the African continent, particularly Nigeria.

“For us at Egoras, we truly understand the pain points of small-business owners who are frantically striving to access microcredits to upscale their business operations. This is because we fully understand that operations of small enterprises play an integral in developing the overall economic viability of Nigeria, including the entire African continent. It is on this understanding that we have designed a bespoke microcredit scheme that seeks to support the growth of small enterprises through the provision of low-interest instant loans with a flexible repayment plan,” he said.

Egoras is a fintech company that is passionate about building sustainable credit systems through utilizing blockchain technology to facilitate the execution of low-microcredit transactions across Nigeria and other African countries. This is in a bid to enable small businesses to access credit facilities through a decentralized financial process.