Nigeria FinTech Landscape - Impact Assessment
Use cases and impact of fintech in South-South Nigeria
Use of fintech in the South-South
Use
Cash in cash
out
Payments
Description
People in remote areas are able to deposit and withdraw funds from their
account through an agent
Payment using USSD and other digital channels, for example, for goods,
transportation, airtime and bills
Players
paga
your cash, anywhere, anytime
Profile of South-South Nigeria'
•
Crude oil production is the primary economic
activity
-
Other economic activities include farming,
fishing and mining
Export hub of Nigeria
Non-exhaustive
OPay
GTBank
.
Access to
financing
Access to credit facilities for individuals, such as miners and artisans.
Less stringent requirements and
easy access
OPay Kudi Quickteller
carbon migorenmoney
Saving
Budgeting tools and savings products on a single platform predominantly used
by women and young people
piggyvest cowrywise
Access to local and global stock markets as well as unconventional investment
opportunities on a single platform mostly used by millennials
piggyvest cowrywise
86% of the population own a digital asset
Presence of young professionals with
economic power in cities such as Port
Harcourt
Investing
Presence of recreation activities
Impact
Increased financial
inclusion
•
Business
Services
1. Profile of South-South Nigeria relative to other regions in Nigeria
Source: Lagos Business School Digital Financial Service Lab, Team Analysis, National Bureau of Statistics
APIs and invoicing for merchants
Democratisation of
savings and investment_
In
Interswitch
paystack
FlutterwaveⓇ
Increased efficiency and
access to loans for
MSMEs
EFINA
136View entire presentation