Buy now, pay later

Jun 04, 2021

Hello Venturer,

Today, we are focused on Nigeria; policies, challenges, and innovations.

Last week, the Central Bank of Nigeria announced new guidelines to make the payments subsector in the country more efficient, a regulation that aims to ensure that companies are well funded and that they operate on a robust and transparent financial footing.

Also, did you know that Nigeria has one of the lowest doctor-patient ratio in the world? The country currently has a ratio of 1 doctor to 2753 patients, thanks to increased brain drain caused by insecurity and its disruptions to the economy.

Lastly, have you ever wanted to purchase something, but didn't want to part with a huge chunk of money at a go? We have listed 10 platforms where you can shop for a variety of things and pay in instalments. Even if it's a car you want to "buy and pay small small", there's a platform for that. Cool right?

Sheriff Oshin

Social Media Manager

What’s New

The VA Pod

Standard Chartered Bank awards 5 female-owned businesses with $9000 in Kenya. Listen to this and other interesting news stories on the latest episode of Herstory. Listen to full episode here.

CBN’s new license categorization requirements explained

The Central Bank of Nigeria released newguidelines for companies seeking to apply for any of several categories of licenses available in the payment subsector. The major change is that these payment companies are now required to match their shareholder capital and pay the sum to CBN which will hold it in escrow. Read more.

3 ways rising insecurity in Nigeria is costing the economy

Insecurity is on a rise across Nigeria. Daily reports of kidnapping, robbery, farmer- herders clashes, and insurgency thinly veiled as banditry, demonstrates the country’s deteriorating security situation. And since the state of a country’s national security and health of the economy are interrelated, Nigeria’s growing insecurity continues to have adverse effects on the economy, particularly in the areas of agriculture, human capital resource, and foreign direct investment. Continue reading.

Honeywell Flour Mills Plc crosses N100 billion mark in annual revenue

Leading food manufacturer, Honeywell Flour Mills Plc. (HFMP) announced its audited results for the year ended March 31, 2021. The company recorded an all-time high revenue of N109.5 billion, an increase of 36 percent over N80.4 billion posted the previous year. This was due to increased production output and more efficient operational capabilities at its factories in Apapa, Sagamu, and Ikeja. Continue reading.

10 platforms in Nigeria that lets you buy and pay for things in installments

Given the current state of the country’s economy and the daily rising cost of living, more and more Nigerians are moving down the socio-economic ladder. It won’t be implausible to say Nigeria’s middle class is the new working class, in terms of earnings and purchasing power. Many (middle-class) Nigerians live paycheck to paycheck and are increasingly finding it difficult to meet their needs. And people often have to let go of a significant part of their earnings, if not all, to purchase things. To aid people’s purchasing power and alleviate their financial burden, several platforms that enable people to buy and pay for items in instalments have sprung up. Continue reading.

Is Sweden Africa’s legal Good Samaritan?

Sweden, the very centre of prosperous Nordic social democracy, has long established itself as a ‘Good Samaritan’ on the international stage. The country is a global leader in international aid and human rights, playing an outsize role on the world stage given its relatively small population and economy. As Sweden seeks to expand this role into the administration of international law, the time has come to ask whether the country’s good intentions always lead to good outcomes for Africa. Continue reading.