Expanding finances for businesses across key sectors of the economy, the company also plans to deploy about ₦500 billion over the next 18 months to support growth-ready businesses in agriculture, healthcare, manufacturing, energy, logistics, and technology.

This was revealed at the 2026 edition of the Zedvance Business Roundtable, where business leaders, entrepreneurs, financiers and experts across the industry gathered to discuss how smarter financing models can strengthen businesses and unlock long-term economic growth.

The event, themed “Unlocking Growth: The Role of Smart Financing in Building Resilient Businesses,” reiterated a belief that access to the right capital, delivered through an accurate understanding of industries and business ecosystems, will be highly indispensable in bolstering Nigeria’s next phase of economic development.

In his welcome address, Adebayo Amzat, group managing director of Zedcrest Group, said the company’s focus on SMEs is rooted in their importance to the economy at large.

“Zedvance is here to do major business in the SME space across every vertical,” he said, adding that financing small businesses is one of the most effective ways to create economic impact because SMEs employ people, support local supply chains and drive activity across multiple sectors.

Amzat explained that Zedvance’s lending model is designed around ecosystems rather than isolated transactions, allowing businesses within different sectors to support overall portfolio stability.

“We don’t like transactions, we like businesses,” he said while encouraging entrepreneurs to maintain proper records, build sustainable value and operate businesses that can show track records over time.

Zedvance is directing capital towards productive sectors where financing can generate huge economic benefits, and the company plans to deploy ₦500 billion over the next 18 months in a bid to strengthen support for businesses that are ready to scale.

Amzat further explained that the objective goes beyond profitability. “Why are we doing all of this? We do not think profit is the only objective, or is the most important objective. We think that our work, first and foremost, is to increase the size of the pie,” he said.

He also highlighted the services within the Zedcrest Group, noting that businesses can access debt financing, private equity, wealth management and investment banking services through the group’s various subsidiaries.

According to him, the goal is to ensure that promising businesses can obtain the capital they need at different stages of growth.

One of the takeaways from the roundtable was that financing alone is not enough. Businesses also need trust-based partnerships, operational discipline and sector expertise.

During the agribusiness and healthcare session, experts examined the challenges businesses face in accessing timely financing and the role strategic partnerships can play in helping companies scale.

The conversation highlighted how responsive financing can strengthen supply chains, improve business confidence and enable companies to seize opportunities when they arise.

Speakers agreed that long-term growth is built on integrity, transparency and relationships that extend beyond individual transactions.

Attention later turned to the energy sector, where discussions focused on the increasing demand for financing solutions that can support renewable energy, electric mobility and decentralised power infrastructure.

Experts noted that access to capital will be critical to driving innovation across the sector, particularly as businesses and households seek reliable and cost-effective energy alternatives.

The session also explored how flexible financing models can reduce limitations to adoption by reducing upfront costs and making clean energy technologies more accessible.

With demand growing continuously, the panel pointed to significant opportunities for investment across the energy value chain, particularly in areas capable of improving productivity and reducing operating expenses for businesses.

Across both sessions, a key takeaway was that businesses thrive when financing is tailored to the specific dynamics of their industries rather than delivered through a one-size-fits-all approach.

From agriculture and healthcare to manufacturing, logistics, energy and technology, speakers stressed the importance of funding solutions that show the unique needs and growth cycles of each sector.

Zedvance is supporting businesses with the capital, expertise and long-term partnerships needed to build resilience and unlock growth through its SME lending scheme. This aligns with the needs of Nigerian businesses facing economic challenges in the sector.

With the right financing and the right partners, growth is still within reach.

The post Zedvance Targets ₦1 Trillion SME Lending as It Expands to Finance Nigeria’s Growth Sectors appeared first on Tech | Business | Economy.

The cash deal, which gives BAS Group over 50% ownership, will enable the company to strengthen its presence in the country’s fragmented small and medium enterprise (SME) lending market.

All of Zuvy’s institutional investors have exited. Co-founders Angel Onuoha and Ahmad Shehu retain minority stakes but are no longer involved in daily operations. BAS Group now assumes full operational control of Zuvy, integrating it into its broader financial services architecture.

The acquisition is a structural change and BAS Group is targeting Nigeria’s massive credit gap, estimated at $236 billion, that continues to limit small business growth.

Startup Zuvy Raises $4.5 Million to Revolutionize SME Invoice Financing in Africa

Through the incorporation of Zuvy’s invoice-discounting model, BAS can now offer SME credit without traditional collateral, leveraging verified invoices as a basis for lending.

“Think of the Zuvy platform as another add-on under our finance arm,” said Abdulateef Hussein, CEO and founder of BAS Group. “It’s going to be very seamless for us because it’s just a new product added to our lending offerings.”

This model isn’t entirely new, but Zuvy had managed to build a credible vendor pipeline, offering short-term (60 to 90-day) loans against invoices verified by large corporate buyers. 

With partners like Dangote, Rite Foods, and Eat n’ Go, Zuvy’s network gave BAS Group an efficient route to expand its SME loan book while reducing lending risk. Hussein noted that, “Most SMEs in Nigeria don’t have real estate or collateral, and even when they do, the approval process is long.”

Zuvy’s strategy wasn’t always sustainable. Initially a direct lender, the startup struggled with scalability as it depended heavily on external fundraising. That model changed when the team pivoted to loan origination, enabling partnerships with financiers while sacrificing some control over loan disbursement. 

This resulted in Zuvy scaling its portfolio tenfold. But growth alone wasn’t enough to keep the founders at the helm.

“Zuvy was profitable at the time of acquisition,” Onuoha confirmed, even as he and Shehu stepped away to focus on their new venture, Avelis Health, which was accepted into Y Combinator’s Summer 2025 cohort. 

“When you’re doing direct lending, you have full control over the exact types of loans you want to disburse, but it relies on constant fundraising to actually scale your loan book,” he added.

Their exit was premeditated. The two officially disengaged from Zuvy in March. Their new startup, Avelis Health, tackles complex medical billing in the United States, an idea born from personal experience. “I’ve had a chronic knee injury for the past decade,” Onuoha said. 

“In the US, medical billing is an extremely complex system. Oftentimes, when you go to the hospital, you’re massively overcharged, and your bills are full of errors. I wanted to find a way to help patients push back against those bills and give them the tools to actually pay fair prices for the care they receive.”

Meanwhile, BAS is moving ahead. In 2025, the group launched BAS Finance Company with a set of products including payroll loans, vehicle-backed loans, and collateral-based SME lending. 

But many businesses fell through the cracks. The Zuvy acquisition fills that gap, offering alternative credit lines for vendors who can’t meet traditional loan requirements but have solid invoice histories with blue-chip firms.

BAS currently manages a ₦1.5 billion loan book and plans to integrate Zuvy’s tech-driven platform to scale distribution. According to the group, no layoffs are expected, and Zuvy’s product and development teams will continue under BAS management. The integration will be led by Kayode Adnan, BAS Group’s COO.

This aligns with BAS Group’s longer-term strategy of building a seamless ecosystem of financial services. Already holding stakes in a microfinance bank and a licensed microinsurance company (ALLYCare and ALLY Microinsurance), the group is layering these services to deliver bundled offerings; banking, health cover, invoice financing, under one roof.

“We are excited about this acquisition,” Hussein said. “A lot of the infrastructure is ready. It is just for us to scale it with our capital and institutional relationships in the market. A lot of the repayments we will be receiving will now be channelled through the Zuvy platform.”

The post BAS Group Acquires Majority Stake in Zuvy to Expand SME Lending Footprint appeared first on Tech | Business | Economy.

The funding, split evenly between $2 million in equity and $2 million in debt, comes as Rivy moves beyond traditional SME lending to tackle one of Africa’s major challenges—access to reliable and affordable energy. 

The equity round was co-led by EchoVC, through its $2.5 million Eco Fund, and Shell-backed All On, while local debt providers supplied the rest.

This pivot wasn’t random. Over time, Rivy noticed a pattern where many of the SMEs it financed found it difficult to deal with the issue of electricity. Businesses couldn’t grow efficiently because they were at the mercy of unstable power supply. At the same time, solar installers faced their own limitations, lacking the capital to stock equipment in bulk.

“We realised that businesses weren’t just asking for loans—they needed a way to solve their power problems,” Dami Olawoye, Rivy’s CEO, explained. “At the same time, solar vendors needed capital to fulfil demand. So, we expanded into asset financing to bridge that gap.”

This insight led Rivy to build a dual marketplace, connecting over 250 solar vendors and installers with businesses looking for financing. Instead of selling solar products directly, Rivy provides tailored loans, allowing SMEs and larger businesses to spread the cost of solar power solutions over time.

Since shifting its focus in 2023, Rivy has seen strong demand despite the high upfront costs of solar systems. The company disbursed $2 million in loans in 2024 alone and has maintained a loan book growth rate of 15% per month.

Olawoye insists that Rivy’s lending model is sound, pointing to a non-performing loan (NPL) ratio below 1%—a rarity in Nigeria’s fintech space. “We built our underwriting engine, and it is clearly working well because our loan defaults are low,” he said.

For businesses struggling with electricity costs, the math is straightforward. Running on diesel generators or paying the revised electricity tariffs costs more in the long run than financing a solar system. “If they get financing from us, their monthly spend will be lower than what they pay on fuel,” Olawoye noted.

Rivy has expanded into micro-grid financing, which supports large-scale solar installations serving entire communities and commercial clusters. This aligns with the goal to increase clean energy adoption in Nigeria and beyond.

Loan terms are structured based on energy demand, installation logistics, and service charges. Interest rates typically start at 12% for a three-month term, increasing for longer durations. However, businesses must pay an initial deposit of at least 30% before accessing financing.

While equity funding helps startups grow, too much of it dilutes ownership. Debt financing, on the other hand, allows companies to scale lending without giving away too much control.

“Equity is expensive,” Olawoye admitted. “We can’t keep raising equity to lend money because everybody [shareholders] will keep getting diluted. If we want to raise future rounds, a structure we’re most likely to use will be one where we raise a combination of debt and equity.”

With this fresh injection of capital, Rivy plans to strengthen its footprint in Nigeria while exploring expansion into other African markets. The clean energy financing space is gaining momentum, and Rivy wants to be at the forefront.

The company is now offering loans and driving a shift towards long-term energy independence for businesses and communities.

The post Payhippo Drops SME Lending, Rebrands as Rivy with $4M to Focus on Clean Energy Financing appeared first on Tech | Business | Economy.