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CelebritiesRe: Comedian Zicsaloma's POP Ceiling Collapses (Photos) by Gerrard59(m): 5:10am On Nov 02, 2024
Majesty33:
This gay in disguise comedian...
Any evidence that he is gay? There must be something in the entertainment industry in every country to accommodate such a high number of "characters".
TravelRe: It Is An Insult To Ask Nigerians If They Can Speak English Before Granting Visa by Gerrard59(m): 5:07am On Nov 02, 2024
ednut1:
for tourist visa you don’t need to know how to speak English.
For permanent residency in most countries you must write language test. Below is permanent residency per country for Canada in 2023. Every one they granted the PR had to write Ielts, celpip or TEF( french test) including the Americans
Indians' numbers are astonishingly high. There should be mini-Mumbais in Canada be that. Those people can influence an election o shocked
TravelRe: It Is An Insult To Ask Nigerians If They Can Speak English Before Granting Visa by Gerrard59(m): 5:03am On Nov 02, 2024
Nuzo1:
They actually do ask them.

I thought many Chinese intending tourists before their appointment with the high commission.

Everything is not racism.
Taught*

For a group of people who misuse words during their written conversation, I argue that Nigerians MUST continue to write English proficiency tests whether they like it or not. These are the same people who ask "English na my papa language?" when corrected. Are the Chinese and Russians doing badly because they don't speak English properly? Forgetting that in both countries, English is NOT the OFFICIAL language of communication.

"There" for their
"Were" for where
"Leave" for live
“Axe” for ask
“Borrow” for Lend (Iyin Aboyeji, an urbane elite, used borrow rather than lend in one of his tweets).

Nigerians MUST continue to write the IELTS/TOEFL/PTE. I will write to the British Council to ensure this happens regardless of Reno's rants. Never should the test be scrapped for Nigerians. They MUST WRITE IT!
PoliticsRe: Peter Obi Decries The Poor Handling Of 124 Protesters By The Federal Government by Gerrard59(m): 4:58am On Nov 02, 2024
Solcampbell:
Bro I live in the North and a Muslim and I'm sorry to break it to you that come 2027, when they share their pasta and mudu of rice plus 5k, they will forget. Besides I trust oga tinubu to handsomely reward thier governors and religious leaders when that time comes.
They will say,
"Would you choose a non believer like Peter obi when you have a Muslim-Muslim ticket before you?" undecided My people have prioritize religion over well-being. They absolutely don't care about their children! If evil is is dressed and delivered in the guise of Islam, they knowingly embrace it.
I've no doubt that APC will secure a massive vote from the north come 2027
As long as the opponent is an Igbo man or has massive support from Igbos, Tinubu would win. An Igbo man cannot become Nigeria's president in its present dispensation. It is astonishing how supposedly educated Igbos don't know this. That aside, Tinubu would commit suicide rather than lose in 2027.
cc: mrvitalis
Foreign AffairsRe: "Elon Musk Was An Illegal Worker When He Came To The US" - Joe Biden by Gerrard59(m): 4:51am On Nov 02, 2024
IbeOkehie:
My argument ON THIS THREAD has nothing to do with business. I don't know why you're coming up with that. Businesses also fail in the USA, Japan and Australia.

Black Africans cannot independently generate collective, self governed living spaces with high HDI.[/b] My evidence CANNOT be countered. I'm not writing about Black Britons or Black Americans, both of whom are far richer than BLACK AFRICANS born in Africa and in any case don't control any nation state. It's a simple point that anyone who respects data can affirm. Black Africans are an inert specie of humanity [/b] that can only survive by non-productive exploitation of their own people in their own countries.

It's very interesting that Igbo people resident in the USA and UK can protest to high heavens about discrimination against Blacks, but can't do ANYTHING about Yoruba discrimination against the Igbo in the last elections. Igbo people were FLOGGED and driven away from voting centers Ever heard of the Apo 6? This group of 6 Igbo traders were killed for absolutely no legal reason by a team of Nigeria Policemen in Abuja. Somehow only Christian members of the police squad were convicted, but the leader of the team, ASP Danjuma who actually instigated the incident and gave the order to kill them, was let out of custody and disappeared till this moment. No Igbo person has led massive protest to do anything about it. Even Nnamdi Kanu is still in custody under Tinubu. Yet Igbo people are on the internet protesting about anti-Black discrimination in the US & UK, countries with the RICHEST national group of Negroes in the world.
To be honest, that has been my bone of contention - suddenly developing the knack for human rights in a distant land but couldn't develop the same in your dominant environment which has greater ills than the distant land.

Let me repeat:

Black Africans sold their own into slavery and now compete with the descendants of those slaves for the slop left by the slave masters. MAKE IT MAKE SENSE, this is bottom level human behavior!!! The descendants of those slaves now live better, have higher HDI and are richer than those who sold them into slavery. This has to be the greatest moral conundrums of human history. That's what I'm on about, nothing else
No wonder African Americans are vulgar towards Nigerians on the Internet and are very proud of their origins to the extent they ensure people know there is a difference between us and them. I can't blame them. No one wants to associate with poverty.
RomanceRe: Why Do Guys Like 'Carrying' Women Once They Become Rich(photo) by Gerrard59(m): 4:16pm On Nov 01, 2024
CHAQUR:
Let's ask Timaya...that said he has slept with all the ladies that rejected him when he was broke.
I thought I was much worse grin grin grin
RomanceRe: Why Do Guys Like 'Carrying' Women Once They Become Rich(photo) by Gerrard59(m): 4:12pm On Nov 01, 2024
marvelck:
I dont why when most guys hammer (become wealthy overnight), the first thing they do, is to start carrying women here and there. As if they never had any woman or girlfriend when they were stil hustling....
Because when they had nothing, women weren't interested in them. So, they are good to go when they have money. After all, women are hypergamous and wouldn't want anything to do with men poorer than them.
RomanceRe: How Do Guys With Multiple Girlfriends Cope In This Economy? by Gerrard59(m): 4:04pm On Nov 01, 2024
castro316:
money that you're supposed to use to better your life you spend it on women later you say that Tinubu is the cause of your problems. you lose money chasing women, but you'll never lose women chasing money
Dangote has escorts (his yansh was shown to the public). Are you wealthier than Dangote? Why do you people think well-to-do men don't have baddies around?
RomanceRe: How Do Guys With Multiple Girlfriends Cope In This Economy? by Gerrard59(m): 4:01pm On Nov 01, 2024
Since they've no laudable investments, it calls for scrutiny. But there are people who have money, so for these folks, it's nothing especially if you earn in dollars. Dollar earners who own their houses in Nigeria are living the LIFE!
Christianity EtcRe: If A Man Doesn't Chase You Before Getting Married, You Are Indomie - Pastor(vid) by Gerrard59(m): 8:07am On Nov 01, 2024
Namaster:
NONSENSE!

Chasing a woman for ANY length of time is STUPID. Same woman will FUCCK someone she met 35 minutes ago while you're there chasing.
Best approach is to be DIRECT with your intentions. If she says NO, let that be the end.
Don't even accept a "let me think/pray" about it. That's a WASTE of time. Unless she's MENTALLY DERANGED, an adult woman should know what she wants.

DON'T chase any woman. Unless she stole your charger.
I endorse this post.
RomanceRe: A Hook-Up Girl's Earnings And Expenses (Pictured) by Gerrard59(op):
Kelechi009:
Yes well said, I'm just so happy it was Zikoko that made such post & not some stupid red pill content because it may seem like people are making this up. Many people feel disappointed or even disillusioned by the disparity between the ideal of “love” and the reality they encounter, particularly when financial status has become a key measure of worth in relationships. I used to wonder why Nigerian men cheat a lot, now thinking back at it. I can clearly see the reason. There is simply no incentive of staying faithful to someone who is with you for financial gain. They wouldn't stick by you if the money isn't there, so what exactly is the point.
I am glad you mentioned this as well. I was one of those Nairalanders who criticised Nigerian married men for cheating on their wives. But after seeing the cognitive dissonance by so-called women in coming to terms with hypergamy and the result of stiffer competition for scarce economic resources for young men, I understood the reason why our men "explore" (I don't call it cheating as he is exploring the same options women have had since the age of 15. Life na turn by turn.

Additionally, one of the eye-opening posts was by another Nairalander who narrated how his then GF started drifting away when he experienced financial challenges. This was the same woman who was lovey-dovey when the going was good. Suddenly, everything changed. Another factor that changed my stance is learning that women DON'T like frequent sex, especially after childbearing. Nymphos are the exception. How many nymphs even dey Nigeria sef? Meanwhile, testosterone does not care about this. We have women ARROGANTLY asking "if sex is food?". But they would not stay with the man if he fails to provide or outrightly disrespect the man if they decide to remain.

Sometimes, I sympathise with much older men who japa'd in their words "for the children". Working odd hours while being deprived of sex all in the name of providing for the family. It is another reason I advocate for as few children as possible. Men have to realise that the world where they are seen as protectors has passed. That gratitude isn't there any longer.

In my books, any man who has provided well enough as his hand can carry for his family should explore his options with as many women as he can handle. It is his right. Provided no disease, extra children (depending on cultural norms) are brought home. Many married men out there are starved of sex. Funny enough, the same modern women loathe sex workers when they are married, but outrightly deny their husbands sex. I haven't even mentioned that black men are the biggest sufferers of prostrate sex and frequent sex has been identified as one of the preventive factors.

It cannot be me sha. I cannot beg for sex. I will buy it outrightly.

Another scenario which women paint is that there are a lot of poor people getting married which means women don't marry for money, the cognitive dissonance here is they do not realise women who marry poor men are also extremely poor, moreso even ugly looking because women always find the best person available they can have. I mean a lady who is from Makoko, extremely poor can only marry another man who is also slightly less poorer. I do not understand how that proves any point against women marrying for money.
Hypergamy exists across economic levels. Women are hypergamous. Good luck to men who believe otherwise. Testosterone is a hormone, not a mo.ron.
PoliticsRe: Doyin Okupe, Peter Obi’s Former Campaign DG Visits President Tinubu by Gerrard59(m): 4:13am On Nov 01, 2024
ednut1:
Seems Tinubu sponsored LP moles to reduce Atiku votes
It is why he is called the Jagaban. Peter Obi was never going to win the election as long as the opposition was divided. In 2019, they were united against the APC and Buhari but lost. However, in 2023 when divided, they believed they would win? C for Cognitive Dissonance.

I mentioned this SEVEN MONTHS before the election, but his ignorant and stoopid supporters insulted me.
https://www.nairaland.com/7225545/why-peter-obi-step-down
Foreign AffairsRe: "Elon Musk Was An Illegal Worker When He Came To The US" - Joe Biden by Gerrard59(m):
@RodgersAkpafu

Thank you so much for your posts. I really appreciate them. They have been uplifting and inspiring. I learnt a lot, no lies. Yes, there are a lot of good institutions and structures we have built in Nigeria - which translates to we can replicate them on a wider scale. The aim should be to do the same on a national scale. I REALLY want to see black societies become wealthy and this has to be from Africa. It would be a thing of pride, especially to blacks elsewhere such as Barbados, Ecuador, Brazil, Suriname, the US, Europe etc. I see how the Chinese are very proud here and walk with their heads high because they know what they are made of and their spending power.

I also loved how people lambasted Paul because it was an over-reaction. However, I am not surprised he came with the per capita rhetoric. To shut his mouth for good would be to build our own VC/PE community just as the Chinese have done.

I understand your explanation about NOI's residence using the FESTAC example. While it the LGA is Yoruba dominated as it is a Yoruba state, there are some streets/neighbourhoods that are exclusively Igbo. This translates to NOI living in black majority area, although in a white area.

Thank you for your time and to Goke7 as well.

P.S. Mr Ibe invested in Nigeria but the socialist system got his fingers hurt. So, I understand where he comes from.
RomanceRe: A Hook-Up Girl's Earnings And Expenses (Pictured) by Gerrard59(op):
Kelechi009:
Hi Gerald,

Have you seen Zikoko's latest post about a guy struggling to maintain his relationship due to financial issues? Your recent posts resonate with the realities of dating and relationships in Nigeria. It's great that a credible platform like Zikoko shared it; otherwise, people might dismiss it as fiction. The guy featured is a real person, highlighting the everyday challenges faced by many. This reflects the typical experience of a 23 year old in Nigeria, and it’s likely to continue until he reaches his late 20s and achieves some stability. Here, the pressure to meet a girlfriend's financial needs goes beyond mere hypergamy. Hypergamy is a global thing, it’s every where but what is practiced in Nigeria is a curse of lack of knowledge.
This one? https://www.zikoko.com/money/asaba-freelancer-hoping-his-girlfriend-wont-leave/

I saw it in school right from secondary to full blown in the university. It was then I removed my mind from anything concerning "Love". I don't believe it exists. Everything has to be transactional, especially when dealing with the opposite sex. What annoys me is the cognitive dissonance by so-called modern women on Twitter who parrot words such as "predator" when a much older man dates/marries a much younger lady. I find that very dishonest because these are the same ladies who told their male contemporaries in schools and even the workplace that "they are not mates", "your wife is in JSS3" (I was told this in my final year) etc. Most women don't rate their male colleagues on the same level as equals.

Hypergamy is everywhere and even worse in wealthier societies. Japan has a low birth rate and one of the reasons the men give for shying from marriage is low salaries and financial responsibilities. The Tokyo Municipal Council tries to solve it by creating an exclusive dating app and one of the requirements is for men to input their earnings. This is commonplace any way for Japanese men to do. Also, private dating apps here make men pay monthly charges (circa $50) but women are omitted. In Singapore, it is even brutal as the women, mostly Chinese, square men by how much they earn and where they work. It is why Western sex bros or even regular men cannot compete there unlike Thailand or Malaysia as the standards in Singapore are very high. Then imagine Switzerland and Norway. It is the dishonesty of most people to acknowledge that pisses me. People are too dishonest these days.

I sympathise with much younger men in Nigeria especially as people say the economy is tough (which I find hard to believe). At least, I can go in and buy sex (I sabi all the strategies involved). But it is very naive for any young man in today's world to believe in love especially as they compete head-on for limited economic opportunities with women who later go on to "use them" (Tiwa Savage's words, not mine).
TravelRe: Azumini Blue River Is One Of The Tourist Sites You Can Visit While In Abia State by Gerrard59(m): 6:33pm On Oct 31, 2024
APOPTOSIS:
These are areas that can attract tourists to Nigeria but what do we have today in our hands?
Even Nigerians based abroad rarely return home again..
We don't know how much of backwardness such insecurities can promote.
That's the reason Jamaica a black nation is booming in tourism.
Imagine the IGR Nigeria would generate from families visiting Nigeria every 6months per year and spending roughly $7000 per trip.
We ntil the emergence of democracy.
Even African Americans complain of the cost involved in visiting Africa - the reason they don't bother, especially when there are more affordable places elsewhere with better infrastructure. They have more money than Black Africans, yet complain of the cost. Then imagine our people? As odd as it is, the target should be wealthy white people - Kenya, South Africa, Botswana, Namibia and now Tanzania have realised it.
BusinessRe: Nigerian Foods You Can Export To The US, UK & Canada by Gerrard59(m): 5:17pm On Oct 31, 2024
Calitoscassius:
Naigeerian are starving yet talking about exporting food. cheesy grin

Besides, no one buys palm oil in America, UK or Canada, palm oil has being found to be high in colesterol.
Palm oil has other uses beyond cooking. The EU and the UK imports palm oil from Indonesia and Malaysia.
Foreign AffairsRe: "Elon Musk Was An Illegal Worker When He Came To The US" - Joe Biden by Gerrard59(m): 5:15pm On Oct 31, 2024
RodgersAkpafu:
cry

I know what I am saying about the upper end black neighbourhoods in ATL
There are black dominated high end neighbourhoods in Buckhead and even Fayette, if your small self cannot agree or accept this that one is your cup of tea. and I also know where NOI house is in the DMV area is also a neighbourhood that has a significant black population, on her street.
His statistics show that the predominant race residing in the area as NOI are whites. As it is, there is no point disagreeing. The authoritative body shows it so.

If you like go and be googling left and right, because it's disconcerting news to you, that one is your own cup of tea
Actually, what he did is good - setting the records right. I even feel bad I did not do the same and just swallowed what you stated hook, line and sinker. Quite unlike me. But it is important to put accurate info, especially in a public discourse.

ATL that is the place where black professionals, millionaires and upscale people dey aplenty, are they supposed to be living in the Bush?
This is where I am interested in his response. I watched a video about black middle class neighbourhoods in Johannesburg and found it very interesting and nice. The blacks dominate that city.

There is nowhere where blacks are the majority anywhere in America and the place is upscale

Are you happy now ?
I am as well interested in his response to the bold.

As a COLLECTIVE, Black Africans have no such ability to generate wealth. Something happened since Contact with Arabs and Europeans. The primary method of wealth generation among Black Africans has become EXPLOITATION and ABUSE of their fellow Blacks and parasiting on other races, NOT building or creating anything. That is why the SLAVE TRADE happened.

This above is something someone who went to school is typing
The level of inferiority complex that you are soaked in is of a very thick one
On a wider scale, he is somewhat right. Just because some black people built successful companies does not mean many black-dominated countries are wealthy. There are successful companies in every country which are built by people all races.

all those Africans raising VC funds and doing great things on the continent are now what ?
If you had a stint in corporate Nigeria before leaving Nigeria, you would probably have seen for yourself great things and ecosystems that are going on in Nigeria and other parts of Africa
Fair deal, including our music and movies industries. It shows wealth building by blacks is possible. However, it does not or has not translated to overall wealth in the most populous black country.
Foreign AffairsRe: "Elon Musk Was An Illegal Worker When He Came To The US" - Joe Biden by Gerrard59(m): 5:05pm On Oct 31, 2024
IbeOkehie:
Dude, I've been to Potomac. One of my landlords lives in Potomac. I don't want to discuss peoples personal business, I don't know if this counts but I'll tell you this much - he lives in a predominantly White area. Atiku has a home there, one Igbo lawyer like that has a home there and the Iweala's live there but that doesn't make it predominantly Black. I've even supplied the demographics of the town with MULTIPLE official and non-official sources showing 6% Black and you're STILL insisting it's predominantly Black. Wetin now?

Buckhead district is 77% White and contained within the City of Atlanta that is 50% Black. That's why their effort to secede from Atlanta was tagged as RACIST. Again Google is our friend, where else are we supposed to go? There's no need to create lies to defend an argument. Your statements about both places are WRONG. Good Luck to Nigeria
Based on the search results, his statements are false. Hopefully, he accepts it. That said, why do they want to secede from Atlanta? And how politically possible is that in an American context? I am curious, though, why the crime rate is high if these places have a strong middle class. Also, what do you say about the long-standing upper-middle class within the Atlanta, Texas and Maryland axis? Also, what about the fast-growing technology sector in Nigeria which is black-dominated, unlike its white-dominated counterpart in South Africa?
BusinessRe: Moniepoint Becomes A "Unicorn". Now Worth A $1BN+ by Gerrard59(op): 5:00pm On Oct 31, 2024
Infotubia9ja:
Actually I like that you made this point out and you might be correct to a very certain point.

Now there are things to consider for a tech company to be considered a billion dollar company.

And I will like to put some of that into light. Firstly many tech companies in Nigeria are mostly valued by people who have little to no idea what technology investment and valuation is all about now I will really love to break it down but I won't best reasons known to me.
But like I said I am not here to bash or downgrade somebody's business I am glad money point provides services as it does but. It is not a billion dollar company.
It's very easy to spot. The way the business is going, it will take it multiple years of times to get to a billion dollar company.
The recent investors are composed of Google and other investors. So, does Google's investing arm not know how to value companies pre- and post-investment? Does the Financial Times UK not know technology investment valuation?

A company worth $1BN is DIFFERENT from generating $1BN in revenue.
BusinessRe: Moniepoint Becomes A "Unicorn". Now Worth A $1BN+ by Gerrard59(op): 2:56pm On Oct 31, 2024
Infotubia9ja:
Not true lol that small company is not even worth 1 million dollars lol believe it or not if that company is worth a billion dollars that means it should be a service every Nigerian house hold use infact a billion dollar company should be servicing not just Nigeria but the whole West Africa lol.
That is not entirely for technology-powered companies. BTW, MANY Nigerians use or have patronised those who use Moniepoint services.

Do you know what is a billion dollar? Na just propaganda sha.
All publicity is good publicity.
Please check the meaning of "unicorn" in a tech context.
RomanceRe: Has Anyone Dated Or Married A Big 4 Female Consultant? by Gerrard59(m): 12:52pm On Oct 31, 2024
emmaodet:
Lol

So Love is just a word used for deceiving men? When it comes to a woman earning higher, all of a sudden Love is thrown out of the window?
Yes. Tiwa, which many modern Nigerian women adore, stated so recently. She says women use men to advance themselves. Mind you, this is the same woman many young Nigerian women would like to have sex with o. Our Beyoncé! grin

Any man who wants to fvck as many women has my unflinching support!
TravelRe: My Experience In UK Since I Japa:warning Rejoinder by Gerrard59(m): 11:07am On Oct 31, 2024
motymop:
With the state Bank of Chile??
Yes.

Can he speak Spanish?
Yes. He learnt Spanish in Nigeria, wrote exams and passed before departing to Chile. Tensa was intentional and methodical. I recall the fee was 80K, but cannot recall if it was per month or per module. But he learnt the language before leaving Nigeria.

You are telling me that they choose him to work with the state Bank of Chile( a Nigerian,)
He is a tech bro (so he has the skills) and actually interviewed with the bank during his job hunting but got rejected.

It is hard to believe anyone on naira land.
I understand, and this is your choice. But I believe him because I know him, you don't. I have seen the payslips and employment letters.
Foreign AffairsRe: "Elon Musk Was An Illegal Worker When He Came To The US" - Joe Biden by Gerrard59(m): 8:13pm On Oct 30, 2024
Goke7:
Africa is wealthy but the problem is that it's not evenly distributed due to cultural norms which one of us has earlier mentioned that if we can do away with some of those cultural norms and religiosity then we can truly generate more wealth, however, this is not a justification for the unnecessary profiling and discrimination we see in the West today, see but for the rule of law that works better in the West, that Italian you mentioned that was sentenced will never happen. And if we start enforcing our laws in Africa, we will see more equity, justice, and fairness which is what can effectively deal with all the issues of tribalism in Africa. Did the UK not toy with the idea of removing themselves from the European Convention of Human Rights (ECHR) to have more leeway in dealing with asylum seekers? that echr is what is making the UK a saner society, remove echr and the UK will become another African jungle. Some things are keeping these folks in check as human behaviour is the same everywhere. Is it not the same US where the cops also kill innocent people, will there ever be a black Lives Matter movement if indeed black lives matter more than in their dominated environment according to you? If wealth truly reduces racism, how come super-wealthy black folks still suffer from racism in the West or do you think they don't?
Because they constitute an infinitesimal number as their dominant environment has more poor people than anywhere else. Singapore and Hong Kong twenty years ago constituted the wealthiest Chinese enclaves. However, their images did not portray the Chinese as wealthy people. Mainland China had to be what it is today for the Chinese to be renewed as people who have money. Today, the Chinese are well respected. There are consequences for disrespecting Chinese consumers. There are NO economic consequences for disrespecting black consumers, especially Black Africans. It is why I respect African Americans and Black South Africans - they fought for their rights and deserve to be proud. Unsurprisingly, they are the number one and two wealthiest set of black people globally respectively.

As for the rule of law, it generally goes along with prosperity. Poverty makes humans to behave like animals. It is no surprise that places where the rule of law works very well are well-off.

My fear is that in the next decade, Southeast Asia will have drastically reduced poverty. If India maintains its GDP growth, South Asia will gradually follow suit. That leaves sub-Saharan Africa as the only place with excruciating poverty. This translates to the black man being synonymous with being poor. Poverty is not a good thing. Death is better than poverty.

N:B; You're one person I so much like your write-ups on this forum and I learn so much from you. Just having a health conversation.
I am sorry, but please don't like me. Sometimes, I don't have sense. Other times, I lambast people who campaigned and voted for Buhari in 2015. I have bad mouth o. Biko, no like me o. I get my own flaws.
BusinessMoniepoint Becomes A "Unicorn". Now Worth A $1BN+ by Gerrard59(op): 6:22pm On Oct 30, 2024
The Nigeria-based fintech Moniepoint has gained “unicorn” status after raising $110mn from investors including Google, a rare bright spot in an otherwise gloomy funding market for African technology companies. The funding round for the nine-year-old company, led by London-based private equity firm Development Partners International and supported by Google’s Africa Investment Fund, gave it a valuation of at least $1bn for the first time, according to people familiar with the transaction.

Moniepoint, which had already previously raised $55mn from investors, operates in the fast-growing fintech market in Nigeria, one of a cohort of companies providing digital financial services in Africa’s most populous nation where many still lack access to basic services including bank accounts.

Moniepoint’s chief executive Tosin Eniolorunda said that while the company would continue to invest in its home market of Nigeria, it planned to use the funds to expand into other countries in Africa.

“The opportunities that exist in Nigeria also exist in multiple countries,” Eniolorunda told the Financial Times.

“They are at different scales and levels of development; some countries are 10 to 15 years behind Nigeria and very few are ahead. We are looking at options in our toolkit and finding which ones would be the best to launch into a country and that’s the work we’re doing right now.”

The company, which the FT has ranked as one of Africa’s fastest-growing companies over the past two years, provides bank accounts for individuals and businesses, loans for its enterprise customers without onerous collateral requirements and point of sales terminals for small merchants.

Its popularity rocketed in February 2023 during an ill-fated attempt by the central bank to replace Nigeria’s currency notes, which left banks unable to cope with the demand for cash.

Moniepoint’s capital raise comes amid a wider slowdown in funding for start-ups across the continent. African start-ups attracted a total of $1.4bn in the first three quarters of the year, down 38 per cent on the same period last year, according to the funding tracker Africa: the Big Deal.

Analysts said higher interest rates from western central banks — particularly in the US where much of African tech funding comes from — had contributed to a slowdown in fundraising as investors cut their appetite for risk.

Osarumen Osamuyi, founder of African tech analysis firm The Subtext, said he expected Moniepoint to use the funds to “fuel expansion across the continent, likely via strategic acquisitions”.

People familiar with the matter said Kenya could be a potential starting point for expansion across the region, with acquisition talks already under way.
SOURCE: https://www.ft.com/content/9bc03560-a958-4afa-b535-c2cbc9d58560




The Number 8 WASSCE scorer in 2009 joined the firm as a teenager: https://www.nairaland.com/8184851/top-waec-scorers-2009-where#131566438. The founder is notorious for wearing monk-strap shoes.

cc: nlfpmod; Seun; Mukina2; dominique

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