Allawee, one of Nigeria’s leading digital credit technology companies, in collaboration with Mastercard, has launched a credit-building card aimed at improving access to loans for federal civil servants and members of the National Youth Service Corps (NYSC).
Enabled through the secure Mastercard platform and issued in partnership with Providus Bank, Remita and Credicorp, the innovative product provides instant credit access and financial flexibility to over 720,000 federal government employees and NYSC members through the Allawee app.
Despite Nigeria’s huge economic potential, according to the National Bureau of Statistics, over 70% of bank account holders have no access to credit.
The Allawee Credit Card bridges this gap, providing a solution tailored to the unique financial needs of Nigerians. Additionally, the initiative aims to promote responsible credit management in a market dominated by debit and prepaid cards, combining seamless digital onboarding, user-friendly features and tools for responsible credit management in one platform.
“We are pleased to partner with Allawee on this innovative lending solution, which is perfectly aligned with Mastercard’s commitment to engage one billion people in the digital economy by 2025. “The Allawee Credit Card will enable NYSC officers and members in Nigeria to build their creditworthiness while providing them with instant credit access, further advancing financial inclusion across the country,” said Folasade Femi Lawal, Country Manager and Regional Business Manager for West Africa, Mastercard.
The Allawee Credit Card has been launched at a critical time when access to credit is vital for economic growth. This supports the Nigerian government’s goal of expanding credit availability to 50% of working Nigerians by 2030.
The card provides users with secure and seamless access to credit while helping them build their credit profile, in line with Mastercard’s mission to drive financial inclusion. Through this collaboration, users can download the Allawee credit card, apply for a loan, get approved and start transacting immediately. Once approved, the loan is disbursed directly to a partner card, giving users full control over their funds.
The card allows for flexible use at point-of-sale terminals, ATMs and online transactions, enabling greater financial freedom.
“We launched this card to give Nigerians instant access to affordable credit while building their credit score. Whether it’s for everyday purchases or meeting emergencies, our customers can now easily cover their expenses. With Mastercard, we offer the convenience of accessing credit both online and in-store at millions of retailers in Nigeria and around the world,” said Ikenna Enenwali, CEO of Allawee.
The Allawee Credit Card provides instant credit access through a fast, secure and fully digital application process and is accepted at Mastercard online and physical stores globally.
Customers can benefit from flexible repayment options, choose their credit limit (up to ₦1,000,000) and repay in installments over four months. The partnership underlines Mastercard’s commitment to driving financial inclusion in Nigeria and enabling underserved people to participate in the digital economy.
