By Milcah Tanimu

Crediometer, a financial services company, is gearing up to empower market women and bike riders across the nation. Rasheed Raji, the Co-founder and Chief Technology Officer, highlighted the financial hurdles faced by individuals in the informal sectors, stressing their significant impact on the economy. Raji emphasized the company’s commitment to equipping them with essential financial tools for sustainable prosperity.

Acknowledging the challenges encountered by these underserved communities in accessing formal credit due to their informal status, Raji explained Crediometer’s innovative approach. By leveraging advanced algorithms, the company enables entrepreneurs to demonstrate creditworthiness based on their business transactions, thereby opening doors to previously unavailable financing options.

Raji further illustrated how Crediometer’s flexible financing solutions serve as a lifeline for bike riders, essential participants in the gig economy, enhancing their financial stability. These options facilitate bike maintenance and upgrades, ultimately boosting their earning potential.

Mrs. Chiamaka, the Company’s Chief Legal Adviser, emphasized the broader impact of Crediometer’s inclusive initiatives. She highlighted how these efforts strengthen the economic resilience of entire communities by fostering entrepreneurship and financial stability among marginalized groups.

Chiamaka reiterated the company’s understanding of the challenges faced by SMEs, market women, and bike riders. She emphasized their goal of dismantling barriers and providing tailored financial services to meet their unique needs, ultimately contributing to the growth of the informal economy.