…platforms bridge funding gaps
Nigeria’s clean mobility transition is gaining traction, but financing remains one of its biggest hurdles, as the high cost of clean assets and limited access to conventional credit threaten to slow adoption.
As the country seeks to expand the use of electric vehicles, CNG, and other clean technologies, access to affordable capital is becoming just as important as access to vehicles, batteries, and charging infrastructure.
This financing gap is creating room for technology to play a new role, using data generated by the assets themselves to give financiers greater visibility into operators’ earnings, utilisation, and repayment behaviour.
“If lenders can confidently verify identity, income, repayment behaviour and recover assets efficiently, financing naturally becomes more affordable because the perceived risk is lower,” Paul Olorunsola, founder and CEO, Ride Vendor Limited, said, noting that the biggest challenge isn’t just the interest rate, its trust and data.
Read also:
This post was originally published on this site.
