Exclusive: Nigerian SME lender Lidya shutters European business
- Lidya is closing its European lending business to focus on its credit assessment and loan recovery offering for the Nigerian market.
- Lidya Collect, a loan recovery tool built on Nigeria's Global Standing Instruction (GSI), has become a key part of Lidya's new business direction.
- Lidya has launched Lidya Bridge, a credit assessment offering, and has already signed more than 50 lenders and microfinance banks.
Lidya's decision to close its European lending business and focus on the Nigerian market shows a strategic shift towards leveraging the opportunities in Nigeria's tech-savvy lending ecosystem. By offering credit assessment and loan recovery solutions, Lidya aims to support data-driven decision-making and provide smoother processes for lenders and microfinance institutions. The company's success in signing more than 50 lenders and microfinance banks indicates a positive reception in the market.
