Sovereign Finance Offers Insights on Smart Borrowing in a High-Interest Economy

Sovereign Finance Offers Insights on Smart Borrowing in a High-Interest Economy

As part of its continuous efforts to promote financial literacy and provide actionable solutions, Sovereign Finance Company Limited, a leading financial service provider committed to empowering individuals and businesses across Nigeria, recently held a webinar titled ‘Riding the Tide: Smart Borrowing Amidst High Interest Rates.’ The event brought together financial experts, business leaders, and individuals seeking practical solutions to the challenges posed by rising interest rates.

As global economic conditions continue to drive higher borrowing costs, the webinar provided critical insights into the factors affecting interest rates, their impact on borrowers, and strategies for making smart financial decisions during this period of economic uncertainty.

Attendees were equipped with valuable tools and knowledge for navigating the evolving financial landscape. Olatunji Esan, Chief Operating Officer, SFL Asset Management Limited, gave an overview of the current economic environment with Nigeria’s interest rate rising following an additional 50 basis points by the Central Bank of Nigeria in September 2024 and the need to make important smart borrowing decisions in times like this.
“While borrowing can be a powerful tool, it can also be hazardous if not done properly. Understanding how to leverage borrowing effectively is crucial for making strategic decisions that align with your financial objectives and navigating the complexities of the economic terrain. Smart borrowing decisions is also critical for financial stability as individuals and business owners,” Esan said.

A detailed analysis of economic trends, inflationary pressures, and global market forces impacting Nigeria’s lending environment were also discussed. Experts shared insights on how high interest rates are affecting both personal and business borrowing, with practical advice for mitigating financial strain.

During the webinar, participants received actionable tips on managing debt efficiently, leveraging opportunities, and minimizing financial risk in a high-interest environment.

Strategies were also discussed for helping businesses and individuals stay resilient in the face of economic volatility.

Anthony Kumba, Divisional Head, Credit & Commercial, Sovereign Finance Company Limited, spoke on retail lending options and how Sovereign Finance Limited is making lending opportunities available to all classes of people in society. This includes sector-specific lending options that focus on addressing the unique financial needs of industries or groups, such as SMEs and businesses across various sectors of the economy.

These include agricultural loans, renewable energy loans, educational loans, technology loans, manufacturing loans, healthcare loans, and housing loans, among others.
Through this webinar, Sovereign Finance Company Limited reaffirms its commitment to empowering Nigerians with the financial knowledge needed to thrive, even in challenging economic conditions. As a trusted partner in financial solutions, SFL remains dedicated to providing innovative solutions tailored to the unique needs of both individuals and businesses across Nigeria.

“We are thrilled with the level of engagement and the positive feedback from attendees every time we organize webinars such as this where individuals and business owners get to expand their financial knowledge bank. At Sovereign Finance Company Limited, we believe that by offering such platforms, we can support Nigerians in making more informed financial decisions, especially when times are tough,” Olusola Dada, Managing Director, Sovereign Finance Limited, said.

Sovereign Finance Company Limited plans to host more educational webinars and events focused on the challenges and opportunities within Nigeria’s evolving financial landscape. Stay updated with future events and services by visiting www.sovereignfinanceltd.com.