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Our Comment On OPay Business Model In Nov 2019

The OPay’s Massive 1% “Tax” on Nigerians

Some comments here on when we began to see some issues in OPay aggressive business model. To answer that, I will refer to this Nov 2019 article where I wrote: ‘Let me say it here: if OPay’s playbook is to “tax” Nigerians this way, it has no future. It has been proven that Nigerians like FREE things. If you try to ask them to pay, they move in exodus. Yes, provided it is free, you are the best service provider. Any playbook that depends on attracting users with freebies and expecting a paid conversion without a new level of product evolution will fail in Nigeria. So, OPay, you can burn your $50 million war chest, and the day that money runs out, all the users will look for the next deal in town. There is nothing like lock-in in Nigeria because the hardest thing is to get a Nigerian to spend money!’