Wayya, a financial technology company focused on bringing solutions to the financially excluded population of Nigeria, has announced its plans to support the CBN’s objective of significantly reducing the unbanked population in the country through Wayya.
The company intends to leverage its deep experience in providing various services to those outside the banking system to drive its financial inclusion initiative.
Wayya, which has a proven track record of over 20 years of successfully providing unlimited access to telecommunication products such as airtime, SIM packs, data products, among others, has emphasized the need to bridge the gap of financial exclusion in Nigeria.
A director of the company, Faiz Imam, said, “I believe in Wayya’s capacity to provide the financial technology service solutions particularly in rural areas where access to financial services is almost non-existent.”
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The fintech space is predicted to receive a boost as this new company intends to bring solutions to solving the problems of the industry and hereby becoming a user-friendly agency banking service provider to its customers.
Although there has been a slight improvement in financial inclusion in Nigeria over the years, recent surveys indicate that a whopping 40 percent of the Nigerian population is still financially excluded. Adults in Northern Nigeria continue to be significantly more financially excluded than those in the Southern region.
Furthermore, rural adults are more excluded than those in urban areas, hence the need for solutions to curb the growth of financial exclusion.
