Money Talk

With these Websites/Apps, Get Quick Loans Without Collateral in Nigeria

Thanks to developments in financial technology, it is now possible for individuals and small businesses to obtain loans without collateral through online lending portals and mobile apps. You no longer need to deal with the frustrations that come with continued rejection of your loan applications by your bank due to lack of collateral or your inability to meet other stringent requirements the banks usually put on the way of borrowers. In this post, we highlight some of the popular mobile apps or online portals where you can get quick loans without collateral. But first, let us look at How it…

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Business Ideas

Agent Banking In Nigeria: All You Need to Know and How to Start It

Agent banking is beginning to gain currency in Nigeria, yet not so many people know about it. If you have an existing small business that brings in cash on a daily basis, you can diversify your revenue streams by becoming a bank agent. Who is a bank agent A person or entity who, not being an employee of a bank, delivers banking services on behalf of the bank on an agreed commission using own premises and resources, is described as an agent bank Imagine you were returning from a family visit on a public holiday. Suddenly you had a problem…

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Grow Your Business

6 Steps to Create Your Company’s Financial Plan

Mastering your finances is one of the essential tasks of any entrepreneur. Yet many business owners overlook basic aspects of financial management that can give them greater control over their business and greater peace of mind.  Indeed, to have financial plan is a necessary step towards avoiding business failure Early Warning System The financial plan differs from the financial statements in that they show what has happened, while the plan is a set of projections of revenues and expenditures for the coming months. These projections will serve as an early warning system and help you predict cash decreases, your financing…

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Business Ideas, Investing

5 Top Sectors to Invest In Nigeria In 2019

This post identifies top five sectors to invest in Nigeria.  It is intended to guide people who are looking at doing business in Africa’s second largest economy and one of the top attractive economies to do business in Africa . Nifgeria is good place to do business in spite of her challenges. Some of the critical drivers are high returns on investment  (ROI), relatively low labour cost, huge market, large consumer spending arising from her large population which is estimated at over 200 million people and a large endowment of natural resources to provide input to industries.  This is in…

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Money Talk

Africa’s Black Tax: A Sustainer of the Poverty Cycle

Recently, Twitter was agog with a short but relatable tweet of a young lady (@Ojima4)  – a tweet with content synonymous to what is known as the black tax in the southern parts of Africa. The black tax is a tradition so common that it earned a prominent spot in Trevor Noah’s “Born a Crime”, really beautiful book by the way. To properly explain the black tax, we can lend the words of Gerald Mwandimbira of the Savings Institute, South Africa. In an interview with Vukuzenzele, a publication of the South African government, he said, “Black tax sees a person’s…

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Business Ideas

Thrift Collection Business – This Ancient Banking Model Is Still Very Profitable

The origin is not known but Thrift collection business has been with us for a very long time in Africa. The popular Alajo Shomolu, arguably the first known organised thrift collector to operate in Lagos, started his business in 1954.  It is an old micro banking model which allows people to save in small amounts on daily basis for a period of time towards specific goals. Another name for it is Money Collection or Daily Contribution. The yorubas call it alajo, it is osusu in Igbo and Adashe in Hausa. In Ghana it is known as susu and tontine in…

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Investing

Investment Opportunities in the Nigerian Money Market

The financial market provides the platform for mobilizing funding for all economic entities – government, businesses, and households. There are two main segments of the financial market, namely the money market and the capital market.  While the money market is structured to mobilize and distribute short-term funds to economic units, the capital market mobilizes funds for long-term needs. This blog post focuses on the money market.  If you are looking for where to earn a steady income on your money and do so on a continuous basis over time, then read on to learn of the various options in the…

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Business Ideas

Vegetable Farming In Nigeria – What You Never Knew Until Now

.Vegetable farming can be a money spinner for any enterprising entrepreneur. Why? Every household in Nigeria consume one type of vegetable or the other.  There is hardly any soup made in any household, in restaurants, hotel, local joints and boukas that will not contain vegetable.  And when you consider the fact that Nigeria has a population estimated at about 200 million people and still growing with hundreds of thousands of visitors into the country on a daily  basis, you will see why demand is high, why supply is always insufficient and why the business of vegetable farming is lucrative. If…

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Grow Your Business

5 Ways Digital Signage Can Benefit Your Small Business

In the current digital era, we have screens everywhere and people have a passionate love affair with all things digital. Shopping habits are changing and consumers are becoming more technology oriented than ever. Digital signage is now a trusted source of information used by consumers in choosing what to buy and where to shop. It offers new invigorating ways to display content and more businesses are utilizing the screens to showcase their products and grow their businesses. In addition, digital videos are modern and more versatile than traditional printed signage. But, it is not just for the business big-shots; smart…

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Money Talk

Easy Ways to Make Money With Your Smartphone

If you have a smart phone and some data subscription you can earn good passive income by taking advantage of the many money making apps available at Android and iOS stores.  All you need do is download the mobile app of your interest and complete simple tasks as may be required.  These tasks may be to participate in a survey, watch short videos, play games or do such other simple things for which you may not spend more than 10 minutes doing. So rather than use all your data to socialize why not  covert that smartphone of yours to a…

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