BAS Finance, a Nigerian financial technology platform and member of the BAS Group ecosystem, has announced that it has disbursed more than N20 billion in loans to small and medium-sized enterprises across the country. The company says it reached the milestone within a single year of operation, placing it among the fastest-growing fintech lenders in the Nigerian market and underscoring the growing role of technology-driven lending in addressing the country’s persistent credit gap.
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Sectors covered by the disbursement
The lending portfolio spans multiple sectors central to Nigeria’s economic activity. BAS Finance has extended working capital and expansion financing to businesses in fast-moving consumer goods and retail, agricultural value chains, manufacturing and production, logistics, real estate, financial services, and cross-border trade. According to the company’s managing director and chief executive officer, Adnan Kayode, the milestone reflects a conviction that micro, small, and medium enterprises are the primary drivers of structural economic growth in Nigeria. He described the disbursement pace as evidence that technology-driven lending can unlock capital at scale for businesses that have traditionally been excluded from formal credit channels.
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Institutional backing adds credibility
Beyond its loan portfolio, BAS Finance has also mobilised N2 billion through a Series 1 Private Note Issuance under a broader N10 billion Private Note Issuance Programme, signalling strong investor confidence in its model. The company says this capital diversification strategy is designed to build a more resilient funding base capable of supporting sustained growth. Chief Marketing Officer at BAS Group, Chidera Muoka, said the company is working to transform access to capital from a privilege limited to well-connected businesses into a broadly available resource for Nigerian entrepreneurs at every level.
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What this means for Nigerian businesses
Access to credit remains one of the most significant constraints on small business growth in Nigeria. Sector data shows that less than five per cent of commercial bank lending reaches MSMEs, even though small businesses account for the overwhelming majority of registered enterprises in the country. Fintech platforms like BAS Finance are increasingly filling this gap, using digital credit assessment and disbursement infrastructure to reach businesses that traditional lenders have long overlooked. Analysts note that sustained, large-scale lending of this kind is critical not only for individual business survival but for broader economic resilience, particularly in sectors such as agriculture and manufacturing where working capital shortfalls remain a routine challenge.
