Chijioke Dozie

  • Current company Carbon (previously OneFi)
  • Location Nigeria
  • Industry Financial Services

While forty million Nigerians have bank accounts, only one million have an active loan from a regulated financial institution. Credit bureaus, relying on traditional sources of data, are only able to cover 11% of the population. The rest are thin credit file users, where credit bureas have limited data due to factors including Nigeria’s poor addressing system, fragmented national identification systems and a largely informally employed population. However, 60 million Nigerians have mobile phones and are generating increasing volumes of non-traditional data, through their use of their mobile phones and their transaction history. By analyzing a consumer’s digital footprint, Carbon is able to assess credit-worthiness and provide short term, unsecured loans to any Nigerian with a smartphone and a bank account within 5 minutes, via a mobile app.

Stay up to date on our entrepreneurs, events, research and more.