Sparkle Sets To Provide Loan Services for Small Businesses

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Founder & CEO, Sparkle, Dozie Uzoma

A Nigerian digital bank, Sparkle, has announced the launch of a new solution aimed at providing business support services for small businesses in the country.

The Chief Executive Officer, Sparkle, Uzoma Dozie, who disclosed this at a press briefing in Lagos, said the financial technology platform would start providing loan services in September.

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“What we just launched is the small business solution of Sparkle. For us, small businesses are very important because the opportunity is great. We are talking about 40 million small businesses and growth in Nigeria. There is a limit to how traditional banking can help small businesses,” he said.

“The problem we are trying to solve was not just the access to financial or advisory services; the business we want to solve is one of business support services,” he added.

Dozie said Sparkle, which started operations last year, was launched to provide banking services digitally to Nigerians, with a focus on two segments, namely individuals and small businesses.

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the “We are different from other competitors because of our solution and our leadership. Leadership from the perspective that we have people who have the working experience of operating in a traditional bank. We have partnerships with Visa, Microsoft, Google, and PwC.

“We want to make digital banking, completely simple, provide banking services to small businesses, help them, save and help them to be compliant with tax laws, in Nigeria.”

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“In building Sparkle, we took the decision that we would build our banking solutions and tie the business around the customer. Second, needed to partnering with people to establish trust. The fact that we also have a bank license means that the Central Bank of Nigeria has deemed our strategy and people trustworthy to carry out these services,” he said.

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According to we needed to partner customers and with the strategic partnerships it has, the customer basic licensed six figures before the end of the year.

“I think we have done fantastically well. A year ago, nobody knew us, but today, we are mentioned as one of the available digital banks. He added.

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