Everyone is lending money in Nigeria!
This is a very fascinating read for all players in the fintech space. It is a pure observation: everyone wants to be a lender. Why? In a world of scarcity, people will always need money. And if you are lucky in taking those risks, you can help people and also find value doing so. But it is not something that is cut-out for everyone.
Maro Elias, writing in Tekedia, explains this comprehensively and extensively. It will help your strategic framework: “The growing use cases for lending in Nigeria and the relative gap in the market continues to create opportunities for fintechs to serve this market, and as more fintechs continue to desire profitability and revenue growth, directly offering credit and/or empowering the credit economy will continue to look like an attractive avenue to venture into.”