PalmPay is the latest fintech gunning for a slice of Nigeria’s financial services pie. At its formal launch this week, the company announced it has received a seed-stage injection of $40 million from TECNO. The Chinese phone brand is owned by Transsion Holdings, the company seemingly on a mission to understand and dominate the African […]
Your current home address is much simpler than the one invented two hundred and fifty years ago in 18th century Europe. When autocrats of the time gave orders for houses to be numbered, it was to reinforce administrative control over subjects: track soldiers evading combat, collect more taxes, keep the people in check. Private mail […]
On Saturday, October 19, Funmi* received an Instagram direct message from David Kenneth. He made a tantalizing proposal: invest N5,000 ($14) and get it tripled in 45 minutes. She was intrigued. Kenneth requested her phone number to provide detailed explanations of how the investment worked. It seemed harmless. Two days and six N5,000 transfers later, […]
Don’t fight it: earning solely in naira is a drag on your aspirations to be a billionaire. A currency that doesn’t massively slack under unpredictable political pressure is an essential store for your value. In general, more productive economies provide greater value for investment. To build wealth in the long-term, therefore, you should want part […]
Nigeria’s leading e-payments giant Interswitch has acquired a majority stake in healthcare technology company, eClat. The deal completed in September means Interswitch is staking for a place in the electronic health records and mobile clinics space in Nigeria. Integrating its famed payments infrastructure with eClat’s seven-year experience in providing support services to healthcare service providers, […]
For many young Nigerians and business owners, fintechs have made payments easier, lending quicker and wealth management more relatable. Collaborating with and competing against traditional financial institutions, relatively new companies like Paystack, Piggyvest and kwikmoney have experienced impressive user adoption, propelling financial inclusion at a rate arguably faster than at any other time in the […]
