Moniepoint's CEO suggests that lenders should focus on a business's cash flow when making lending decisions, rather than the collateral they can provide. This approach is recommended as formal credit use among adults has increased.
The increase in formal credit use is noted to be from 6% in 2023 to 10% in 2026.
Further details on this recommendation can be found through Nairametrics, which reported on the CEO's statement regarding lending practices to businesses.
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