Two years after it acquired Quarzt for $86 million
with FLUTTERWAVE & ENDEAVOR
Good morning.Is that the
smell of normalcy?Pfizer and Biontech have announced a COVID19 vaccine candidate that’s showing more than 90% effectiveness in preventing the virus.
In today’s edition:
-MultiChoice Half Year results
-Quartz is private again
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MAKING BETTER LENDING DECISIONS
In the last few years, the Digital lending business in Nigeria has grown.
Access to credit has long been a problem in the lending space. Before digital lenders came along, this credit problem was said to be the fault of retail banks. Why were retail banks so risk averse that they happily waved away the chance to make revenue from
Well, digital lenders are finding out first hand.
With no effective credit bureaus, the average Nigerian does not have a credit history. There are also no real institutional disincentives to prevent people from owing lenders.
The summary: Nigeria’s digital lending space could use some startups that could help with some structure. Those structures would benefit the
lenders and borrowers.
Last month, we talked about Evolve Credit providing a loan marketplace where people can compare rates from digital lenders.
Enter CARMA, a data startup helps lenders make better credit assessment decisions by giving them access to a “real time credit data on a peer to peer basis.”
While CARMA was launched in Nairobi this year, it has now received funding in a
round led by Nigerian VC, Microtraction.
Up next: CARMA has now launched in Nigeria and it will mean an extra tool in the digital lenders arsenal to make better lending decisions.
A WINDFALL FOR MULTICHOICE
While MultiChoice’s half year results aren’t due until November 12, the PayTV company is expecting a surge in profits.
company says it is expecting a 45% increase in profits for HY 2020. One reason profits are up is because it cut cost.
While we’re not entirely certain what that means right now, November 12 will provide a clearer picture. What we can say for certain is that MultiChoice has had an interesting year.
It has responded well to competition from Netflix, launching its own digital products and pushing
adoption for them. It has also seen some interest from the Canal Group, with the French company buying a 12% stake in MultiChoice.
What to watch out for: Our analysis of MultiChoice’s HY 2020 results later this week