In a bid to bolster the economic resilience of Nigeria’s middle class, SmallSmall is proud to announce the launch of the first installment payment Fair in Nigeria.
Scheduled to hold in Lagos on August 17, 2024, the SmallSmall Fair will showcase the transformative power of installment payment solutions across diverse industries, allowing hundreds of companies offering installment payment to meet and sell directly to over 5,000 credit worthy consumers in person, all under one roof.
SmallSmall, whose pioneering and award winning products, RentSmallSmall
and BuySmallSmall, have transformed the way Nigerians rent and buy properties has been leading the charge for Nigerian businesses to adopt installment payments to ensure sustainable growth for their businesses and to provide a much needed succor for the middle class in Nigeria, whose purchasing power is being eroded.
Tunde Balogun, the co-founder and chief executive of SmallSmall, speaking about the event, said, “Nigeria has been a cash based economy for decades and this model is now outdated and working against our economy. The demand to pay for everything in cash has fueled a lot of ills in our society including greed and corruption. In Nigeria we brag about paying for things in cash, and when we are faced with a tough economy as we have right now, everybody goes into hiding and eats their breakfast in silence. Why don’t we adopt consumption models that are sustainable and promote an inclusive economy for everyone, which will ultimately allow us to grow our market size and GDP as a country.
The Chief Executive emphasized that any company allowing its customers to do installment payment should have proper structure that allows it to capture the customers’ repayment history and log them into a central credit bureau system; this way, Nigeria can have a robust credit database showing citizens’ credit history and credit worthiness.
As part of SmallSmall’s effort to promote installment payment adoption, the company launched SmallSmall Podcast, a platform to drive conversations with founders and CEOs of companies providing installment payments to consumers; guests that have featured on the podcast include Adenike Macaulay, CEO of Wakanow, a travel company, Adeposi Bamiduro, founder and CEO of Conclase Academy, a digital education company, Tobi Odukoya, co-founder and CEO of CDCare, a gadgets and appliances company, Rotimi Thomas, co-founder and CEO of SunFi, a solar power company, and Williams Fatayo, co-founder and CEO of truQ, a logistics company, all spearheading the normalization of installment payments in their respective industries.
The SmallSmall Fair is positioned as the next stage of SmallSmall’s campaign to drive adoption of installment payments across several industries in Nigeria.
“We are getting ready to host over 5,000 attendees in-person on Saturday, August 17, 2024, and we’re also rolling out a virtual App for the event that we’ve called Fair App. The Fair App, set to go live in July, will showcase all vendors exhibiting at the event and allow them to engage and sell to over a 1 million consumers on the App that same day.” Pidah Tnadah, VP. Product and Tech at SmallSmall
This event underscores the importance of ensuring that the middle class remains relevant, as they are essential to the progress and future of the economy.
SmallSmall is not doing this alone as the company has received support from leading companies, who have joined in as partners, including, Lenco, Vendease, Nimbuzz, and TechCabal. Tunde Kara, the chief executive of Vendease, speaking about the event, said, “I am excited about the SmallSmall Fair and how it can change the way Nigerians access essential goods and services using installment payment solutions. The way I see it, it has the potential to create opportunities for both businesses and consumers.”
The SmallSmall Fair event website is now live as of the time of this publication. Interested attendees, vendors, and sponsors can visit the site and register their interest to participate.
