A finicial technology (fintech) firm, CashBox said it has seen monthly transaction value grow from N16 million in 2019 to N200 million in 2021, representing a 1,150 per cent increase in the period. The number of users also rose from 10,000 to 200,000 within the same period, an indication of the growing adoption of digital savings in Nigeria. “Our digital marketing budget is very small compared to our competitors and that is because we have relied mostly on referrals to build the business,” Aigbogun said. However, the company continues to keep in touch with potential investors as it plans its fundraising.

Source: The Guardian March 30, 2022 04:00 UTC