Renaissance Credit Nigeria, operating under the name Rencredit MFB Limited, has been granted a state licence by the Central Bank of Nigeria (CBN).
The state licence empowers Rencredit to consolidate its business objectives, one of which is to offer consumer loans up to N500,000.00 within 24 hours to lower and middle-class income earners in and around Lagos State.
With strong core operations and information technology platforms provided by T24 banking software and Experian information and data management systems, Renaissance Credit is able to perform enhanced analytics with the goal to improve customer interaction and feedback.
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Speaking on the CBN licence, Segun Akintemi, CEO, Renaissance Credit Nigeria, stated that “this is a great milestone for the company as we are equipped not only to remain a leading provider of consumer loans within every community we operate, but also to ensure we are within reach across all platforms – physical or virtual”.
Renaissance Credit commenced operations on October 17, 2012, having received its banking licence from the CBN. It has remained at the fore front of providing “simple money solutions” to consumers in Lagos State, in the form of simple and accessible cash loans, PoS loans – that can be accessed by buying household electronics and appliances from electronic or retail stores, as well as higher returns on savings and fixed deposit investments.
