Debt recovery in Nigeria has long been burdened by aggressive tactics, creating tension between borrowers and lenders. Borrowers often feel overwhelmed, while lenders need help recovering funds without damaging their reputations. Echika Obijiaku identified a need for a more ethical and empathetic approach and founded Mwanga in 2019. Through this company, she has changed how debt recovery operates in Nigeria, focusing on restoring trust and dignity to both parties.
With over 16 years of consulting experience at global firms like Deloitte and Alexander Forbes, Echika Obijiaku applied her expertise to create a solution that benefits borrowers and lenders. Mwanga’s system is simple but effective. For the business, debt recovery is about more than just money. It’s about helping borrowers regain control of their finances while ensuring lenders receive their repayments respectfully and professionally. Since its founding, Mwanga has recovered over $11 million in loans, helping more than 1.5 million Nigerians regain financial stability.
At the heart of Mwanga’s approach is its focus on empathy and professionalism. Instead of relying on punitive measures, Mwanga works with borrowers to develop realistic repayment plans. A notable example of this approach involved a borrower struggling with a microloan. Rather than imposing penalties, Mwanga helped restructure the loan into manageable instalments that better suited the borrower’s financial situation. This collaborative solution allowed the borrower to regain control over their finances while the lender also recovered the funds owed.
Mwanga’s impact is not limited to borrowers. The company also provides valuable insights to lenders, allowing them to improve their products and services. Offering feedback on borrower needs helps financial institutions develop better, more customer-focused offerings. This partnership has made the company a trusted ally for over 25 organisations in the financial services sector.
Obijiaku’s commitment to reforming Nigeria’s financial system extends to creating a positive company culture. Innovation, collaboration, and ethical practices are at the forefront of Mwanga’s daily operations.
Obijiaku is also the founder of Yapha Academy. This educational platform equips young professionals across Africa with the skills needed to excel in the workforce. Since its launch, Yapha has trained over 1,400 people in 11 countries for meaningful employment opportunities.
