CREDICORP launches YouthCred for Entrepreneurs: ₦2M loans for young biz owners after credit ed
CREDICORP launched YouthCred for Entrepreneurs today, offering young Nigerians aged 18-35 access to working and growth capital up to ₦2,000,000—but only after completing mandatory credit education. This completes the YouthCred programme's three phases, following NYSC Corps members and employed youth nationwide. The programme addresses a critical gap: over 90% of Nigeria's MSMEs operate as sole proprietorships without formal registration, making traditional bank loans inaccessible due to lack of corporate documents or collateral. Instead, YouthCred evaluates applicants based on their education, affordability, and repayment record, building their formal credit history from the first loan. Every disbursement creates a credit file, turning informal hustle into documented financial identity. With Wema Bank as the pilot Partner Financial Institution signing up applicants at today's Abuja launch, the programme will expand nationwide through markets, trade associations and cooperative societies across all 36 states and FCT. CREDICORP reports its portfolio has maintained 0% non-performing loans while disbursing over ₦47 billion to 301,124 applicants nationwide—proving structured, responsible credit works for Nigeria's young entrepreneurs. To participate, visit youthcred.com today, complete the credit education module, check eligibility, and apply online or visit a participating Partner Financial Institution as rollout expands.