Wednesday, January 20

Tag: FinTech

Nigerian Co-Owned FINTECH, Esusu Raises $2.3 Million In Fundings in USA
Business

Nigerian Co-Owned FINTECH, Esusu Raises $2.3 Million In Fundings in USA

Nigeria-Inspired Fintech Esusu Raises $2.3 Million in Seed Extension to Fuel Its Expansion to 1M Rental Units. Millions of Americans have lost jobs and missed rent payments due to the pandemic, a striking reminder of the looming financial duress many households are under. On Wednesday, the digital savings app Esusu, which targets immigrant and minority groups, announced the close of a $2.3 million seed round, bringing its total financing to $4 million. Cofounders Wemimo Abbey and Samir Goel began fundraising in June and the latest round includes investors like Impact America Fund, Zeal Capital Partners, and Next Play Ventures, the latter of which is led by LinkedIn chairman and former CEO Jeff Weiner. Founded in 2018, Esusu is a rotational savings and credit building app that ...
How Atiku Abubakar Will Lose February 16 Election
News

How Atiku Abubakar Will Lose February 16 Election

Get this straight: Atiku Abubakar will lose the presidential election on February 16. I’m not Rev. Father Ejike Mbaka or one of the tongue-in-cheek seers whose predictions you’ll be struggling to figure out after dropping your offering in the bag at midnight of December 31. I’ll say it the way it is, walking where angels fear to tread. You’re free to believe who you want or what you choose, but here’s why Atiku will lose. The two main candidates will split the north, the country’s largest vote bank, with 38.9million or over 50 percent of the 72.8million registered voters as at January. But President Muhammadu Buhari’s fanatical hold over the north west, which has over 18.5million registered voters – the highest in the country – will still give him an edge over Atiku. The deciding...
News

Made in Nigeria: Driving Productivity And Competitiveness

“We can compete significantly if we can deliver a quality that matches and exceeds those of imported goods. Think creatively, take advantage of your being Nigerian and deliver products that will meet the specific needs of your people.” – Mrs. Ibukun Awosika, Chairman, First Bank Nigeria Ltd Nigeria is richly endowed with the material and human resources needed to diversify her economy. There has been increasing talks about the need for a shift from majorly exporting and consuming foreign products to the local production and consumption of ‘Made in Nigeria’ products – Nigerians undoubtedly possess abundant talent in entrepreneurship and innovation with potential for high productivity and global competitiveness. When production and consumption are localized, wealth is kept within the loc...
The Legal Considerations Of Running A Fintech Startup In Nigeria
News

The Legal Considerations Of Running A Fintech Startup In Nigeria

The core business of the FinTech sector revolves around financial services which are, as such, regulated activities. Generally, it is common for FinTech startups to enter into relationships with existing operators within the financial industry by way of service level agreements or technical partnerships which, amongst other benefits, allows these startups to deliver their services under the partner/client financial institution’s existing licence. However the alternative method is for a startup to operate on its own steam by meeting the requirements to obtain the requisite licences although this method requires significant capital outlay. As such, FinTech startups that are seeking to exploit the significant market opportunities in Nigeria are bound to run into several regulatory compl...