In April 2020, Visa Inc (listed on the New York Stock Exchange) acquired 19.95% of Interswitch Holdings Limited, a Nigerian payments firm for a cash consideration of $200 million. This valued the company at just over $1 billion.

For full Year period that ended March 2020, Interswitch reported revenues of N33.49 billion equivalent to $93m as the average exchange rate in 2019 was 360.0594 NGN per dollar.

Visa basically bought Interswitch shares at a Price to Sales P/S valuation of 10.75x.

By Full Year 2023, Interswitch Holdings Limited had grown its consolidated revenue to N66.5 billion. However, the Nigerian Naira has been devalued to 1,500 NGN per dollar meaning those revenues are now worth about $44.3 million.

Applying the P/S Visa acquisition valuation would value Interswitch today at $476 million, according to MoneyCentral calculations.

Visa’s $200 million stake would then be now worth only about $95.2 million due to the devaluation.

It is important to note that Nigeria represents 94% of Interswitch Holdings Limited’s Group’s revenue. It also means Interswitch, Africa’s veteran fintech company has lost its unicorn title.

https://moneycentral.com.ng/exclusive/article/devaluation-takes-toll-on-interswitch-revenue-as-value-of-visa-stake-down-52/

Those online swines and their gutter mouth cheer leader Anambran governor who were laughing the devaluation of PO investment as worth next to nothing, can now see the full effect of having idiots lead an economy!

Make una continue....until nothing remain! By them, I guess the hungry Masses will mobilize and eat the elites and the pigs who supports their criminality!

Tinubu is the biggest failure ever liveth

He's clueless and a monumental disgrace to leadership

Shame Shame shame

Someone one said it while sane people believed it. Today the reality is staring people in the eyes.

That negative interpretation is my concern here, and it’s premised on buhari’s support for the election of Bola tinubu as nigeria’s next president. It concerns me because I’m fully convinced that a tinubu presidency would not only destabilise nigeria internally, it would damage nigeria globally, making it a big laughing stock, a butt of dark international jokes!

Truth is, next year’s presidential election will have huge long-term implications, its outcome will affect nigeria for decades. Therefore, no patriotic Nigerian should sit on the fence; that patriotism is what underpins this intervention. To be sure, the presidential election should be as much about character as manifesto.

The presidency is too serious an office to be invested in someone with serious integrity deficit. Those ignoring character and integrity should remember the Turkish proverb: “When a clown moves into a palace, he doesn’t become a king. The palace becomes a circus.”

https://www.google.com/amp/s/www.vanguardngr.com/2022/11/

Bigkoko:
Those online swines and their gutter mouth cheer leader Anambran governor who were laughing the devaluation of PO investment as worth next to nothing, can now see the full effect of having idiots lead an economy!..!

Charles Soludo is really a political idiot.I cant believe that politics can warped people brain this way.

COMRADES are speechless about this weird news

I met him once during his days as Economic Adviser to Obj or his early days as CBN gov. The idiot is so full of him, and lack character. Heard he's actually a sadist who kowtow to vested interest just so he can get appointment or elected.

Anywhere, we still dey wait for the Taiwan Dubai he promised!

Racoon:
Charles Soludo is really a political idiot.I cant believe that politics can warped people brain this way.

Bigkoko:
Those online swines and their gutter mouth cheer leader Anambran governor who were laughing the devaluation of PO investment as worth next to nothing, can now see the full effect of having idiots lead an economy!

Make una continue....until nothing remain! By them, I guess the hungry Masses will mobilize and eat the elites and the pigs who supports their criminality!

Lmao there is nothing tribal and religious extremity won't do ... Nothing

Off course my dear Werey. You see I'm in a place where for the past 5 years I haven't really bothered about Power going off, or worried about what happens if I fall sick..as my health insurance takes care of that.

Do how about you? Una go chop grass soon!

Omo keep one post make we know how to send thunder to you Biko.... Write, edit, write edit...them swear for you? Hahaha 🤣🤣🤣🤣

mrvitalis:

Lmao there is nothing tribal and religious extremity won't do ... Nothing