Yemaka Technologies Limited Secures Money Lender License in Lagos State

Folalumi Alaran in Abuja

Yemaka Technologies Limited, led by cofounder Mr. Ikenna Ifeobu, has been granted a money lender license by the Lagos State Ministry of Home Affairs. This milestone enables the company, known for its expertise in developing mobile applications and software solutions, to expand into the financial services sector.

Founded with a mission to innovate and automate payment transactions, Yemaka Technologies now plans to offer non-banking transaction services and trade finance solutions. Mr. Ikenna Ifeobu expressed his excitement about the license, emphasizing the company’s commitment to bridging technology and finance.

“Our focus has always been on leveraging technology to enhance financial inclusivity,” Mr. Ikenna stated. “This license allows us to offer tailored financial services that meet the diverse needs of small and medium enterprises (SMEs) and individuals.”

Yemaka Technologies aims to advance credit facilities and provide trade finance, with or without security at a prescribed interest rate and on any additional terms to small and medium enterprises and individuals. The license marks a significant step towards fulfilling these objectives, enabling the company to offer credit facilities to support growth and development for small and medium enterprises and individuals.