Credit Direct is moving into embedded finance
FCMB's consumer lender Credit Direct plans to offer credit inside merchant and business platforms, and is also exploring other West African markets.
The facts
- Credit Direct, the consumer lending arm of FCMB Group, is expanding into embedded finance through partnerships with businesses and merchants, according to TechCabal.
- Its 2025 Nigeria Credit Landscape Report, based on data from more than 300,000 borrowers, found the average loan rose 23.5% to ₦449,178 ($326.75), with rent, medical bills and school fees the top reasons for borrowing.
- CreditDirect Business offers general-purpose loans, invoice-backed financing and LPO contract financing, with loans of up to ₦50 million ($37,130) for eligible businesses.
- Product marketing lead Victoria Arinze said talks on other West African markets are ongoing, but no countries or timelines were disclosed.
Case notes · Danny's take
Why it matters
Look at what Nigerians borrow for: rent, medical bills, school fees. That is survival spending, not luxury. Embedded finance puts the loan at the point of payment, which makes credit faster and easier to reach. It also makes it easier to take on without thinking. The $330 billion SME funding gap is the bigger prize, and a lender that says it won't outbank the banks is betting on partnerships over platforms.
For builders
If you run a merchant, invoicing or payments platform in Nigeria, lenders like Credit Direct are looking for distribution partners. Check how affordability is assessed and how repayment is handled before you plug credit into your checkout.
Not financial advice. Do your own investigation.
This story was summarised with AI from TechCabal's reporting and checked against our editorial policy. Danny's take reflects his views. Disclaimer.
Danny Walter
Founder of Moon Republic, Volt Terminal and Moon Republic Academy. Author of The Market Is a Crime Scene and After the Applause.