Migo chief says access to credit remains challenging
BY Kuokumo Goodie, Lagos
The Founder/Chief Executive Officer, Migo, a technology firm, Ekechi Nwokah, has said access to credit remained major challenge as over two billion adults globally lack access to credit.
He said the cloud-based platform that partners with banks, mobile operators, retailers and payment processors in emerging markets to provide credit to underserved consumers, will continue to work hard to close the gap.
He said Migo’s innovative business model is seizing the opportunity to close a gap in the digital financial services industry and reach a large, underserved customer base.
Nwokah who spoke on his selection into the global network of Endeavor Entrepreneur in Lagos, expressed delight about the honour, stressing that the firm, formerly known as Mines, aligns with Endeavor’s mission is to build strong entrepreneurship ecosystems in growth markets, including Nigeria, by selecting, mentoring, and accelerating the best high-impact entrepreneurs to drive economic growth and job creation.
The Managing Director & CEO of Endeavor in Nigeria, Eloho Gihan-Mbelu, said Migo continued to relentlessly strives to improve financial access across the country.
Gihan-Mbelu said: “Migo is an exciting high-growth company that is improving financial access for millions in Nigeria. As the company expands beyond Nigeria, starting withBrazil, which is one of Endeavor’s largest markets, we look forward to supporting Ekechi and his team on their mission to bring retail credit to billions of underserved people all over the world. Ekechi is a dedicated, technical founder and a strong role model for high-impact entrepreneurs in Nigeria.”
Gihan-Mbelu explained that to become an Endeavor Entrepreneur, candidates go through a rigorous selection process which culminates in an International Selection Panel by vetted and trusted mentors, drawn from Endeavor’s extensive network of over4,000 mentors across the world.
Ekechi was successfully selected along with seven entrepreneurs leading six companies from six countries. Despite the ongoing COVID-19 pandemic, Endeavor leveraged technology to bring together candidates from all over the world and host its first-ever virtual International Selection Panel. Over a three-day period, Ekechi was interviewed by a panel of 8 experienced business leaders.
As Nwokah leads his team at Migo to new heights, he hopes to leverage Endeavor’s extensive network globally. “Endeavor will be a significant value add for the company as we expand,” he said. Along with Migo, Endeavor Nigeria supports 14 entrepreneurs who lead nine companies in Nigeria.
Companies in the Endeavor Nigeria network span various industries, including financial technology, renewable energy, healthcare, film production and distribution, and retail.