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Bua Cement Parent Company Unveils Payment and Messaging App, Hollaport

Bua Cement parent company has launched an app that combines chat, messaging and payment: "Chat + Transactions = Lifestyle. Keep in touch, Request Money, Send Money, Pay Bills, Subscribe and Do More... with Hollaport." The app, Hollaport, plans to drive financial inclusion in Nigeria.

With over 4000 devices have already registered on the platform. Our focus is to boost financial inclusion of the unbanked and to also increase the possibilities and convenience of chatting, sending and receiving money without leaving the chat platform.”

Kabir Rabiu, Group Executive Director of Bua Group.

 

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Everyone wants to be the wechat of Nigeria, but they is hardly any differentiation or new innovation in any of these offerings, leaving network effects as what will decide the eventual winner. Once whatsapp rolls out mobile money, I think the game will be over for a lot of the wechat copycats.

I concur with you. The question is really why should a cement company be wasting time in this space when Whatsapp has already won! Yet, the bank fees remain attractive to all to go after.

Our compatriots are very smart, you cannot expect the banks to be collecting all the fees, certainly not in a country where getting your own cut makes you a 'complete' citizen.

And now we have another catchphrase: financial inclusion, whatever that means, a debate for another day. When you look closely, everyone is still chasing the 38 million people captured in BVN project, and the 'inclusion' is always happening within that space.

By the time all the businesses build and own their payment systems, those who built payment platforms as a business will be out of business.

What we need is to create wealth, and ensure that our compatriots participate in it, subsequently the idea of financial inclusion or payment platforms will be reasonable; for now we are still joking.