The Central Bank of Nigeria has issued Awacash, a fintech platform, a microfinance bank (MfB) licence following the company’s earlier acquisition of a money lending license.
Commenting on the latest regulatory approval by the monetary authorities granted the fintech platform to operate as MfB, Co-Founder of Awacash, Dayo Okunfolami, said: “We understand the obstacles encountered by the average Nigerian in obtaining credit and efficiently managing their finances.
“Our primary objective is to streamline their lives by offering an on-demand banking experience that is tailor-made to meet their ever-evolving needs”, he added.
The fintech expert explained that the licence underscored Awacash’s strong commitment to enhancing the banking experience specifically tailored for creators and freelancers.
According to the management, the company aims to revolutionize the banking experience by offering borderless payments and seamless financial management, empowering individuals to take control of their finances like never before.
Specifically designed for creators and freelancers, Awacash provides a comprehensive suite of banking solutions. Its standout feature is the innovative credit-on-the-go offering, granting customers swift access to credit at competitive interest rates.
