Overview
Kiakia is Nigeria’s pioneering peer-to-peer (P2P) lending platform, founded in 2016 as a fully licensed non-banking financial technology company. The platform specializes in offering both secured and unsecured loans through its well-structured peer-to-peer lending platform designed to connect reliable lenders to credible borrowers. With over ₦32 billion in transactions, Kiakia serves Nigerian micro, small, and medium enterprises (MSMEs) alongside individual borrowers and investors.
The platform operates through mobile apps and web interfaces, enabling users to either invest in loans for returns or access quick credit facilities. Kiakia was awarded the Best Peer-To-Peer Platform at the InFINCA Awards in 2019, establishing its credibility in Nigeria’s financial sector.
Key Features
P2P Lending Marketplace
Connect lenders with borrowers directly
Investment Opportunities
Earn 12%-40% returns annually
Quick Loan Processing
Fast approval and disbursement
Mobile & Web Platform
Available on iOS, Android, and web
Real-time Negotiations
Dynamic loan term discussions
Risk Assessment
Advanced credit scoring system
Multiple Loan Types
Personal and business loans available
Pros & Cons
Advantages
- High investment returns (12%-40% annually)
- Licensed and regulated fintech company
- Award-winning platform (2019 IFINCA)
- Quick loan processing and approval
- Over ₦32 billion in successful transactions
Limitations
- Limited to the Nigerian market only
- High borrowing interest rates (15%-25% monthly)
- Limited loan amounts (₦10,000-₦200,000)
- Short repayment terms (7-30 days)
Security Features
Regulatory Compliance: Fully licensed by the relevant Nigerian financial authorities
Data Protection: Standard SSL encryption for data transmission
Direct Debit Integration: Secure payment processing through Mono and Remita
Identity Verification: KYC (Know Your Customer) processes for all users
Risk Assessment: Advanced credit scoring algorithms to minimize default risk
Pricing & Fees
| Service | Fee | Details |
|---|---|---|
| Personal Loans | 15%-25% monthly interest | Loan amounts: ₦10,000-₦200,000 |
| Business Loans | 15%-25% monthly interest | Flexible terms for MSMEs |
| Investment Returns | 12%-40% per annum | Quarterly, bi-annual, and annual options |
| Platform Fee | Not specified | Likely included in interest rates |
| Processing Fee | Not disclosed | May apply to loan origination |
| Early Repayment | Not specified | Terms vary by agreement |
Getting Started
Detailed Ratings
Final Verdict
Kiakia stands as Nigeria’s pioneering P2P lending platform with impressive transaction volumes and regulatory backing. While offering attractive investment returns and quick loan access, the high borrowing costs and limited geographical scope may restrict its appeal. The platform suits Nigerian investors seeking alternative investment opportunities and MSMEs needing quick credit access.