SmallSmall boosts Nigeria’s credit system with Fair App

For decades, the idea of a robust credit system in Nigeria has felt like a distant dream. Yet, the need for financial systems that empower everyday Nigerians to live better, more fulfilled life has never been more pressing.

SmallSmall, a pioneer of monthly property rental in Nigeria, is turning that dream into reality by launching its first-ever direct-to-consumer credit as a core offering on its e-commerce platform, Fair App.

Fair App, currently in beta, allows users to access products and services, and pay in installments. The App was first introduced to the public in Aug 2024 at the maiden edition of SmallSmall Fair, an event that promotes credit solutions, and brings consumers face-to-face with businesses that accept installment payment for goods and services. Notable vendors at the SmallSmall Fair include Sunfi, Taeillo, Outspokn, Edike, Payhippo, Faslink, and some of these vendors now sell on the Fair App.

Since Fair App commenced operation in October 2024, it has recorded 10,000+ downloads on Google and Apple Play Store, 2,500+ active monthly users, 300+ Vendor Sign-up, 5,000+ Listings. The listings include, Home Appliances, Phone and Gadgets, Furniture, Fashion, and Groceries amongst others.

Read also: SmallSmall taps Nigeria’s growing retail space to bridge N64mn credit gap with new offering

Fair App rewards users who shop on the App with interest free credit (IFC) which they in-turn use for their next shopping on the App and pay back in installments with zero interest.

Tunde Balgogun, CEO of SmallSmall, talking about the new credit offering, stated, “Consumers have needs that must be met, else, their livelihood, and that of the people they are responsible for, is drastically affected.”

“Our motive in introducing interest free credit to our users is because we don’t want to leave our users stranded after they shopped for their essential needs on the Fair App. Our users will never feel emptied at the end of every purchase on the Fair App. Every naira they spend from their own wallet unlocks a new line of interest free credit for them.”

He further stated, “This is not a cashback or loyalty program; those are perks that businesses use periodically to attract and retain more customers. The SmallSmall interest free credit is a support solution available on the go, at all times, to all Fair App users from your first purchase.”

“We are building a credit ecosystem that is sustainable and can grow into other areas of credit that our users need over time. This is just the beginning. Our vision to power sustainable credit in Nigeria is quite big, and the roads we’ve taken all these years with our other products including RentSmallSmall, BuySmallSmall, have led us to this moment.”

The interest free credit offering is not just a payment option on the Fair App; it is a bold statement about SmallSmall’s commitment to empowering Nigerians to live better, more fulfilled lives. As times grow increasingly uncertain and financial pressures mount, SmallSmall is here to remind everyone that innovation can still serve the people, delivering value where it matters most.

As the demand for flexible payment options grows, SmallSmall is setting a new benchmark by eliminating the financial burden of interest, giving people access to products and services with more ease and convenience. This pioneering initiative aligns with the platform’s mission to empower Nigerians with accessible and affordable shopping experiences, even amidst the challenges of the current economic climate.

Consumer credit penetration is still very low across Africa and poses a major barrier to economic growth on the continent. However, countries like Kenya have demonstrated the transformative power of credit systems. Since the introduction of their mobile-based credit solutions over the last five years, access to credit has revolutionized how Kenyans handle financial commitments.

From purchasing essentials to growing small businesses, this shift has empowered millions to thrive in a way that seemed impossible before. Whilst we continue to see more companies developing innovative solutions to fill up the credit gap in the economy, a lot more needs to be done to lower the access barrier and make credit affordable in Nigeria.

The Techstars backed startup believes that hardworking Nigerians deserve more than just scraping by; they deserve a financial system that works for them.

A system that recognizes their determination and helps them unlock the lifestyle they aspire to, without compromising their savings or overextending their finances. Instead of spending all their earnings on goods and services, Nigerians should have the opportunity to earn rewards and build credit history while meeting their needs.