The Punch

Sy­camore boosts peer lend­ing to in­di­vid­u­als, SMES


TO ad­dress the dif­fi­cult and cum­ber­some process of fi­nan­cial em­pow­er­ment, Sy­ says it is com­mit­ted to pro­mot­ing credit cul­ture in Nige­ria, by pro­vid­ing se­cured loans to in­di­vid­u­als, Mi­cro, Small and Medium En­ter­prises through the cre­ation of a peer-to-peer lend­ing plat­form.

Sy­camore said it had a solution to bring about fi­nan­cial free­dom to its cus­tomers by con­nect­ing in­di­vid­u­als or busi­nesses look­ing for a good op­por­tu­nity to di­ver­sify their in­come with re­spon­si­ble bor­row­ers.

In a state­ment, it said, “As a sub­scriber to the plat­form, you have the abil­ity to ei­ther iden­tify and se­lect loan con­tracts your­self or sim­ply opt to have your port­fo­lio man­aged au­tonomously.

“Our plat­form pro­vides a com­pelling com­bi­na­tion of liq­uid­ity, low volatil­ity and at­trac­tive re­turns.”

The Chief Ex­ec­u­tive Of­fi­cer Sy­camore, Mr Tunde Akin-moses, stated, “It is no se­cret that ac­cess to finance is one of the main is­sues af­fect­ing the rapid growth of in­di­vid­u­als and busi­nesses in Africa.

“Our mis­sion is for in­di­vid­u­als to achieve more through or­gan­ised lend­ing and bor­row­ing.”

The Chief Mar­ket­ing Of­fi­cer, Miss Onyinyechu­k­wuka Okonji, said “Sy­camore growth so far has been based on great cus­tomer ex­pe­ri­ences and the ef­fec­tive­ness of word of mouth mar­ket­ing.

“Im­proved mar­ket­ing ef­forts are be­ing made to at­tract new lenders and cred­i­ble bor­row­ers.”

The Chief Op­er­a­tions Of­fi­cer, Mr May­owa Adeo­sun stated that, “a mar­ket­place ex­ists with the Sy­camore P2P lend­ing with in­vest­ments de­signed for in­di­vid­u­als seek­ing long-term cap­i­tal preser­va­tion and growth, this fund of­fers com­pet­i­tive re­turns com­pared to the av­er­age on­line lenders.”

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