There aren’t many countries where residents feel the effect of inflation and currency devaluation as much as in Nigeria. Grocery prices in the country tend to be markedly higher from month to month, and the result is that many Nigerians, whose income remain stagnant, are constantly looking for alternative ways for making money. This, to some extent, tells the story of why Nigeria has one of the highest crypto adoption rates globally.

For many Nigerians, cryptocurrency isn’t merely a wealth-building tool; it’s a way out. Still, it’s early days for crypto adoption in the West African country, with only a tiny portion of the population currently using digital assets.

Two friends, Michael Adeyeri and Moyo Sodipo, are looking to onboard the next few million Nigerians into the crypto economy.

The duo’s company Busha has raised $4.2 million in a seed round led by Jump Capital. Cadenza Ventures, Blockwall Capital, CMT Digital, Greenhouse Capital and Raba Capital also took part in the round.

Busha plans to deploy the capital toward product development, growth in Nigeria, expansion to other African countries and talent acquisition. The company expects to set up shops in Ghana, Kenya and a few francophone African countries over the coming months.

Busha launched in 2019 and has silently amassed over 200,000 registered users (not necessarily the active user count). The company’s growth has been driven by the team’s focus on building what their customers want.

“Our approach while building has always been about customer obsession,” said Sodipo, currently Busha’s chief product officer. “We pay so much attention to what our customers want versus what our competitors are doing.”

This has helped Busha build trust with its customers so much so that word of mouth has been an important growth tool for the company.

“We quickly realized that we were acquiring more customers through referrals just because we were delivering the exact kind of services that they want,” Adeyeri, who serves as Busha’s CEO added.

Read More: https://www.forbes.com/sites/oluwaseunadeyanju/2021/11/23/african-bitcoin-exchange-busha-raises-42-million-seed-led-by-jump-capital/?sh=5d48c7de579a

CC: Mynd44 Lalasticala

https://thumbor.forbes.com/thumbor/960x0/https%3A%2F%2Fspecials-images.forbesimg.com%2Fimageserve%2F619cc8f49423921c951e3101%2Fbusha-co-founders%2F960x0.jpg%3Ffit%3Dscale

Nice one.

LegendHero:
There aren’t many countries where residents feel the effect of inflation and currency devaluation as much as in Nigeria. Grocery prices in the country tend to be markedly higher from month to month, and the result is that many Nigerians, whose income remain stagnant, are constantly looking for alternative ways for making money. This, to some extent, tells the story of why Nigeria has one of the highest crypto adoption rates globally.

For many Nigerians, cryptocurrency isn’t merely a wealth-building tool; it’s a way out. Still, it’s early days for crypto adoption in the West African country, with only a tiny portion of the population currently using digital assets.

Two friends, Michael Adeyeri and Moyo Sodipo, are looking to onboard the next few million Nigerians into the crypto economy.

The duo’s company Busha has raised $4.2 million in a seed round led by Jump Capital. Cadenza Ventures, Blockwall Capital, CMT Digital, Greenhouse Capital and Raba Capital also took part in the round.

Busha plans to deploy the capital toward product development, growth in Nigeria, expansion to other African countries and talent acquisition. The company expects to set up shops in Ghana, Kenya and a few francophone African countries over the coming months.

Busha launched in 2019 and has silently amassed over 200,000 registered users (not necessarily the active user count). The company’s growth has been driven by the team’s focus on building what their customers want.

“Our approach while building has always been about customer obsession,” said Sodipo, currently Busha’s chief product officer. “We pay so much attention to what our customers want versus what our competitors are doing.”

This has helped Busha build trust with its customers so much so that word of mouth has been an important growth tool for the company.

“We quickly realized that we were acquiring more customers through referrals just because we were delivering the exact kind of services that they want,” Adeyeri, who serves as Busha’s CEO added.

Read More: https://www.forbes.com/sites/oluwaseunadeyanju/2021/11/23/african-bitcoin-exchange-busha-raises-42-million-seed-led-by-jump-capital/?sh=5d48c7de579a

CC: Mynd44 Lalasticala

https://thumbor.forbes.com/thumbor/960x0/https%3A%2F%2Fspecials-images.forbesimg.com%2Fimageserve%2F619cc8f49423921c951e3101%2Fbusha-co-founders%2F960x0.jpg%3Ffit%3Dscale

Nice one....

YOruba lagba...