Digitvant Microfinance Bank has assured business owners as well as individuals of accessible finance as the lender seeks to bridge the financial inclusion gap in one of Africa’s biggest economies.
In a statement, Florence Ogunyamoju, managing director of Digitvant Microfinance Bank, called on traders, entrepreneurs, and informal sector players to take advantage of the financial solutions the bank is offering to simplify and scale their operations.
“In a country where many still operate outside the formal financial system, the question that we must always ask ourselves is: Are our financial innovations inclusive?” she asked.
According to her, that question inspired the creation of Digitvant, a financial institution focused on delivering inclusive, community-based financial services to understand individuals and businesses, especially in the informal sector.
Nigeria’s fintech sector has seen a rapid and significant rise in recent years, but Ogunyamoju said these innovations have been wrongly targeted at the “digitally-savvy, urban middle-class”, while the average Nigerians are left stranded.
Market Monie, the bank’s flagship product, is the heart of this mission. Inspired by real-life stories of women unable to restock their goods and traders trying to grow their businesses, Market Monie provides collateral-free, low-interest credit to small traders, artisans, and SMEs.
Accessible, fast in operation, and made particularly for the informal sector—that important yet ignored sector of Nigeria’s economy, Market Monie is different from its kind.
“What makes Market Monie different is its hybrid style,” she said. “It is a blend of community lending flexibility with the security and discipline of being a licensed financial institution.”
Ogunyamoju also noted Digitvant’s deliberate push for gender for gender inclusion with over 80 percent of the bank’s workforce led by women. She proudly pointed out that a woman—herself—was at the helm of the bank.
“It is a deliberate decision based on the conviction that empowering women makes families, businesses, and the economy stronger,” she said. According to her, a bank led by women would be more visible and impactful.”
With its grassroots-driven products and commitment to inclusion, Digitvant is redefining its role. It has evolved from providing collateral-free, low-interest credit to a trusted financial partner to Nigeria’s underserved and informal business community.
