One of the unicorns in the African fintech space is making a big plan to expand its growth and financial operation by raising new fund and listing in the U.S.

Fawry, the Egyptian payment firm, has announced its plans to raise EGP 800 million ($50.8 million) of growth capital through a rights issue to existing shareholders. The fintech is pushing to onboard other services in addition to payments.

Thus, the new fund will be used to accelerate a new chapter of expansions in financial services for both consumers and merchants.

The plan also includes growing the Company’s offerings on MyFawry, with the aim to prep the Company for its Super App ambition in Egypt. Moreover, the Company will continue to invest in strengthening its position on merchant acquiring as well as supply chain solutions.

A portion of the proceeds will also be directed toward executing the Company’s investment strategy, fast-tracking innovation, and supporting the budding ecosystem of high-growth startups and fintech that complement Fawry’s offering through e-commerce, logistics, fintech services, insurtech among other verticals.

The Company’s board of directors, including the directors representing the main shareholders of the Company (whether representing institutional investors or financial institutions), have approved the proposal to increase the capital to finance the company’s growth plans in the event that the necessary shareholder and regulatory approvals are obtained.

The Company’s board of directors also approved the creation of an American Depositary Shares (“ADS”) program and is exploring a listing in the United States in connection with a potential SEC-registered secondary offering. The timing, number of ADSs and price of the proposed offering have not yet been determined. The proposed offering is subject to market conditions, shareholder and regulatory approvals, and there can be no assurance as to whether, or when, the offering may be completed or as to the actual size or terms of the offering.

“These materials are not an offer for the sale of any securities in the United States. The securities may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Any public offering of securities will be made by means of a prospectus that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements,” the company said in a statement.

Since it was founded in 2008 by Ashraf Sabry and Mohamed Okasha, Fawry has grown to become one of the biggest payment platforms in Africa, serving the banked and unbanked. The company owes part of its success to a diversified business model which includes cash, credit card, mobile wallet and B2B financial services. Fawry has moved from 5000 points of services in two cities to 225,000 points of service in 300 cities nationwide.

Last time I thoroughly checked, various unguided and ungracious lifestyles were peculiar to most Nigerian government functionaries that it required only realists towards its holistic eradication.

Of course, it’s only a realist that would unequivocally tell a fellow that what he or she did was uncalled for, because those in realism as a school of thought stick to factual issues.

It’s obvious that in several quarters across the federation of the Nigerian State, you would easily notice a government public office holder showcasing a lifestyle related to ego, deceit, hypocrisy, sycophancy, and what have you.

If those the people look up to invariably hide under the aforementioned nauseous idiosyncrasies, then it significantly implies that ushering in the awaited good governance would remain far-fetched.

Give me one tangible reason someone who seems not to possess a conscience wouldn’t make attainment to governance seem not unlike a mere mirage, rather than reality. Frankly, it’s high time we started acknowledging that some factors remain a hindrance towards attaining a certain anticipated height.

Taking a painstaking study of contemporary Nigeria’s political arena, one needn’t be told that some, if not most, of the so-called government functionaries aren’t living up to the expectations, both socially and otherwise.

For instance, one political office holder would invite someone over for a meeting and consequently on the scheduled meeting day, the invitee would spend the whole day in the intended host’s office without enjoying even a second’s attention from him or her.

And subsequently, the supposed host wouldn’t even care to tender an unalloyed apology for the inconvenience caused you, let alone making out time to reschedule the appointment for a future date with a view to making it up to you.

Most worrisomely, it could be that you left a different state for that very state where the proposed meeting was meant to take place, all to no avail. It suffices to say that, in spite of the enormous sacrifice put in place toward the said appointment, everything ended up in shambles.

This, among other pertinent issues, is a common feature observed in several public officers, particularly government functionaries, in Nigeria. We are not unaware of contingencies; we’re also aware of ‘man proposes, God disposes’, but what we need to note is that there’s need for us to be extremely conscious and mindful of our actions towards others.

I keep reiterating that ‘I’m sorry’ doesn’t mean you were wrong; rather, it simply means you cherish or adore the relationship far more than your ego. It’s very amusing to observe that most people are of the opinion that if one says ‘I’m sorry’, it automatically ridicules or diminishes his/her status. That’s indeed a fallacious notion.

People ought to learn to lead well. We’re no doubt deeply expected to lead by example. Never take your subjects, followers, relatives, friends, or fans, as the case may be, for granted.

It isn’t all about being an institutional leader or occupying a leadership position; if you are a public figure or a well respected individual in the society, definitely thousands of people are following or looking up to you, hence you are automatically a leader.

Let’s endeavour to do the right thing at all times even when we are sleeping or deeply snoring. Don’t promise people ‘A’ but in the long run, you end up doing ‘B’.

Mind you, if you dare renege on your promise or pledge, the consequences await your person come rain come shine. There are no two ways about it. Thus, the choice is yours.

I’ve noticed that some of these officers act out of influence. The moment they secured the position either via appointment or election, they would allow themselves to be negatively influenced by their colleagues who come from mediocre backgrounds.

It’s really quite appalling and pathetic. We should learn to be ourselves; don’t change because you noticed that others have changed. It’s indisputable that change is constant or that human beings are naturally dynamic, but that doesn’t imply we ought to change to anything.

Inter alia, don’t deceive yourself. I’ve equally observed that we often deceive ourselves, perhaps owing to ignorance, lack of courage, fear of the unknown, and myopia, among others. Yes, many of us are myopic in nature; we’re unable to see beyond the crossed line or our immediate surroundings.

To this end, I implore us to always employ a panoramic view in whatever we do or anywhere we find ourselves. Self-deceit has been proven to be one of the greatest shortcomings any man would possess or parade.

In other words, we must endeavour to tell ourselves nothing but the truth at all times and all costs. Detest ego, because it destroys one so easily just as an earthquake would. Desist from deceit because it maims, and kills too.

Above all, kick against hypocrisy and sycophancy with the last drop of your blood, because they remain unthinkable societal monsters regardless of the circumstance.

Beloved, be wise. Do not allow power, affluence, or a certain position you find yourself to cloud your sense of reasoning. One day, the position will surely depart leaving you behind; and at that stage or moment, you may not be able to cope with what life entails.

All in all, everyone irrespective of the position being occupied, is expected to be and remain focused at all times towards averting self-destruction. 

The Super Eagles of Nigeria is out of the African Cup of Nations (AFCON) League after securing a loss of one goal to nothing to the Tunisia national team which is known as the The Eagles of Carthage of Tunisia, on Sunday, 23rd of January, 2022.

The loss of the Nigerian National football team is unexpected as the team has been doing pretty amazingly well in the African Cup of Nation (AFCON) league, having won previous matches before meeting the Tunis team.

This loss has been attributed to the call made to the team by president Buhari who decided to call the team to charge them and motivate the players to keep up playing good games and  if possible bring the cup home.

Immediately the call was made, many social media users and some prominent Nigerians  took to their social media pages to pray for the Super Eagle team claiming that the call President Buhari just made to the team will definitely lead to their failure.

Some of the users including Mr. Omoyele Sowore, the revolution now activist and former presidential aspirant took to his social media pages to post: “Just heard Muhammadu Buhari just passed his bad luck to Nigeria’s Super Eagles! We are working hard to neutralize it! #RevolutionNow”.  Mr. Reno Omokri, the media aide of former president, Goodluck Jonathan also predicted that the Super Eagles will lose the match, that they should not have taken a call from the Mr President.

What seem to be funny social media  banters of people claiming that inasmuch as President Buhari have called the super eagle team they will definitely lose the match became a sad reality when the team lost the match and lost out of the AFCON cup.

Conspiracy theorists  have also traced past calls made by the Mr. president to other sportsmen who coincidentally lost their matches after the “Buhari call”. People like Anthony Joshua lost his fight after he visited president Buhari.

The social media have gone agog with memes captions like, “May Buhari never call you, Run whenever you see a call from Buhari” and other similar posts all claiming that a call from the president is a bringer of ill luck.

The superstition surrounding the president Buhari call effect should be investigated and studied by scientists to know if it is all coincidences or there is more to it than meets the eyes.