In a bold and refreshing initiative, 50 residents of Ikorodu, Lagos State have been empowered with tricycles under a groundbreaking scheme powered by Credicorp, Letshego Microfinance Bank, Sub-city Global Projects, and Simba Tvs Group.
The project, which has been described as a first of its kind, officially kicked off with a joyful handing-over ceremony where tricycle recipients; men and women received keys to their new means of livelihood. The energy in the air was palpable; this wasn’t just about machines.It was about mobility, dignity and opportunity.
The initiative is uniquely structured; Creditcorp provides the capital, Letshego Microfinance Bank handles the credit administration, Sub-city Global Projects, in collaboration with a local assembly, delivers the vehicles, and Simba Group ensures the quality and functionality of the tricycles. Together, these organizations are rewriting the narrative of economic empowerment.
What makes this program especially commendable is its all-inclusive approach regardless of age, gender, or background. All that is required is a valid business plan and a qualifying credit score. For many, it marked the first time such a transparent, accessible credit initiative became more than just a promise on paper.
According to Olanike Kolawole, Executive Director at Credicorp, the scheme aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda. She said it was about bridging the credit gap, creating access to opportunity, and giving every Nigerian, regardless of their station in life, a chance to stand on solid economic ground.
Kolawole noted that Credicorp has already impacted over 100,000 Nigerians across sectors like education, digital access and renewable energy through similar credit-based partnerships with more than 25 financial institutions. But this tricycle scheme is particularly close to the heart because of its hands-on, visible impact.
The CFO of Letshego Microfinance Bank, Ajibola Fadeyi, added that the partnership is a sign of what can be achieved when the private sector collaborates for a common goal. She called it a positive step forward in inclusive economic empowerment.
Lareen Gupta, a representative of Simba Group, the company known for its reliable mobility solutions, assured that their commitment to quality will remain consistent, and beneficiaries can count on them for the durability of their products.
One of the new tricycle owners, a young woman, glowing with gratitude, said that the tricycle is more than a vehicle for her. She described it as a path to taking care of her parents, paying her school fees and building something for herself. She advised other young ladies to know that it is possible to earn legitimately and live decently.
In a time when many Nigerians are seeking viable means of survival and stability, this program offers hope, structure, and sustainability. And as these 50 new operators hit the streets of Ikorodu, their journeys symbolize a forward movement, not just in kilometers, but in economic and social advancement.
