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Nigerian Fintechs are Battling With Increasing Number of Loan Defaults Due to Job Loss and Economic Woes

Loan default rates in Nigeria is on the increase due to growing economic uncertainty in the country. According to reports, fintech startups in Nigeria are the most hit as they are struggling to keep loan default rates at tolerable levels.

The fintech model of providing a convenient and easy way to access loans has been growing the sector at breakneck speed for the past year. However, the economic effects of the pandemic which has led to increasing loan defaults is compelling startups to reconsider their business models. Read more via TechNext

Pemo Theodore

Pemo is a Media Publisher & Event Producer. She is CoFounder/CEO Silicon Valley TV She is the Executive Producer of FinTech Silicon Valley & organizes Bay Area FinTech meetup: Silicon Valley FinTech meetup & Blockchain Music meetup with almost 3k members. She has produced Silicon Valley Events for Investors & Startups 7 years. She video interviews venture capitalists & angel investors & FinTech experts. She partners with videographers to cover San Francisco Bay area startup conferences & meetups with livestreaming, video & foto packages Silicon Valley TV She is based in Silicon Valley & has been involved in online business for 14 years. She has been in small business for 46 years in Ireland, London, Canada & Australia. She also published a free ebook (the findings of 1 year research from VCs, angels & women founders) “Why are Women Funded Less than Men? a crowdsourced conversation” She was TheNextWomen‘s most prolific contributor of 2011. Silicon Valley TV has been noted as a platform for supporting high growth women led companies in Huffington Post

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