Tobex4realTobex234:
Fintech is disrupting everywhere and causing commotion everywhere. Traditional banks are losing their staffs, and now they are losing their customers so the aggression is understandable.

And young people will prefer Fintech because of their innovation. PayPal doesn't accept Nigerians till Flutterwave came. Nigerian freelancers have always being duped by traditional banks exchanging their USD for them at 380 before these apps came.

All Nigerian banks card have now set a limit of $100 on international purchase before Barter came.
These people are casing commotion everywhere, offering real value and I love to see it.

Even in Europe, Revolut, Monzo, N26 and Starling bank are causing these kind of commotion

Please kindly shed more light


Maybe open a thread on Fintechs


I once listened to GT Agbaje keep ranting on how Fintechs are giving them tough competition

But they have not sold the idea to old monies

Tobex4realTobex234:
They will burst by retailing the same funds you people buy here lol. But only making it very easy for young people to buy them.

They target young people because they offer ease and a better user experience. As a young person, of course fund safety is also important, but if I can buy same bonds and funds you guys buy in a saner and better interface, why should I go through the traditional messed up process. Una like to they suffer

If they are retailing funds, how come their interest rates are higher than that of the funds they retail? Shouldn't it be smaller?

I use i-invest but compared to these ones that claim to invest on your behalf with guaranteed rate, i-invest is just a platform to access various instruments including but not limited to TB.

Grupo:


If they are retailing funds, how come their interest rates are higher than that of the funds they retail? Shouldn't it be smaller?

This is Cowrywise. 3% per annum.

How is this higher than market rates?

Carbon offers 10% because they do loans. They have been in the loan business for about a decade. They also accept a maximum of 1m i think.

Their loan is at 5% per month, so it's obvious how they make money.

N:B: This is not an investment advice please

With loans company, 10% is achievable.
Does Carbon operate a physical microfinance bank also?

Tobex4realTobex234:
Carbon offers 10% because they do loans. They have been in the loan business for about a decade. They also accept a maximum of 1m i think.

Their loan is at 5% per month, so it's obvious how they make money.

N:B: This is not an investment advice please

ojesymsym:
With loans company, 10% is achievable.
Does Cabin operate a physical microfinance bank also?

Do you have information about the performance of the loan? What is the percentage of non performing loan? What is the total loan granted? What is the total deposit?

I have no real data, but I know as a rule of thumb that loan sharks and money lenders generally make money because they are able to employ unautodox ways of collecting their money, some of which commercial banks cannot employ.

emmanuelewumi:



Do you have information about the performance of the loan? What is the percentage of non performing loan? What is the total loan granted? What is the total deposit?

I have no real data, but I know as a rule of thumb that loan sharks and money lenders generally make money because they are able to employ unautodox ways of collecting their money, some of which commercial banks cannot employ.

emmanuelewumi:



Do you have information about the performance of the loan? What is the percentage of non performing loan? What is the total loan granted? What is the total deposit?

Luddites are masquerading as risk averse investors. Most fintechs have licenses from the CBN.

Tobex4realTobex234:
Carbon offers 10% because they do loans. They have been in the loan business for about a decade. They also accept a maximum of 1m i think.

Their loan is at 5% per month, so it's obvious how they make money.

N:B: This is not an investment advice please

Carbon was never been in business for a decade ago they started over 2yrs

ojesymsym:
I have no real data, but I know as a rule of thumb that loan sharks and money lenders generally make money because they are able to employ unautodox ways of collecting their money, some of which commercial banks cannot employ.

Calling people on your contact that one is owing is quite wrong. I expect someone to test this in the court, it is breach of privacy. The person will cash out, the money will definitely be bigger than the amount owed.

I am okay with the average 25% per annum which I get from my banks, instead of 50% to 60% per annum from loan sharks

That's why they are likely to have a higher collection Raye than the commercial banks.

In terms of taking them to court, I want to believe that somewhere in the fine prints that the loan collectors must have agreed to a lot of these things and lot more.

Many Nigerians see loans as their own share of the national cake with no intention to pay but microfinance banks know how to deal with such people. Some defaulters from microfinance banks commit suicide, those from commercial bank keeps flexing life.

emmanuelewumi:


Calling people on your contact that one is owing is quite wrong. I expect someone to test this in the court, it is breach of privacy. The person will cash out, the money will definitely be bigger than the amount owed.

I am okay with the average 25% per annum which I get from my banks, instead of 50% to 60% per annum from loan sharks

I can see guys are exploring alternatives now that tb rates are not attractive. I can't thank God enough for making me take the courage to diversify into real estate. I keep asking people the average rental returns from building house, trying to compare with my stable and guaranteed investments (I do tb and Stanbic Money Market) but I could not get an actual value. Many variables involved yet I didn't give up, started meeting people, engineers, real estate agents, and eventually, I realized there's nothing to be scared of... I emptied my money market, buy land for ajah, get seriously involved to minimise cost.

Bought land at lakowe, Ajah for 3m half plot
Built 8 units of room and parlour self contain (4 on the ground floor and 4 at the top)

Total spent about 13m

In total spent about 17-19m

Started renting out and within 5 months, all units has been occupied @ 350k annual fee (agreement and commission took the first payment to 450k)

Total return from rental first year: 3.6m (450 X

Expected annual returns onward : 2.8m


In percentage :

First year : 20 percent return on investment

Expected annual return onward: 15.5 percent


There was a time I got this value from tb (2016 - 2018), money market has always been around 13 percent at peak for me.

I'm just glad I now have a stable return of over 15 percent without worrying about rates dropping...


To blow your mind : I have just been introduced to developer style of real estate... I have already signed a property self.. Cost of buying land and building from ground up (foundation construction) is off... Based on the site engineers quotation, with 6m, we should finish the renovation work and paint the building. Family one off payment was 1.5m so in all, about 8m should finish everything. They are leasing the building to me for 12 years and annual returns expected is about 3.2m.. That's over 35 percent return annually.

I don't think I will ever go back from real estate...

That's my personal experience, so if anyone is looking for alternative, do your findings on real estate. And be careful, don't cut cost, always go through a reputable lawyer, they are not that expensive, street is hard even the lawyers fees are now negotiable lol... All the best.

Occupancy rate for this type of apartment is around 200%. As one de commot another one de enter.

Nice one

ade101:
I can see guys are exploring alternatives now that tb rates are not attractive. I can't thank God enough for making me take the courage to diversify into real estate. I keep asking people the average rental returns from building house, trying to compare with my stable and guaranteed investments (I do tb and Stanbic Money Market) but I could not get an actual value. Many variables involved yet I didn't give up, started meeting people, engineers, real estate agents, and eventually, I realized there's nothing to be scared of... I emptied my money market, buy land for ajah, get seriously involved to minimise cost.

Bought land at lakowe, Ajah for 3m half plot
Built 8 units of room and parlour self contain (4 on the ground floor and 4 at the top)

Total spent about 13m

In total spent about 17-19m

Started renting out and within 5 months, all units has been occupied @ 350k annual fee (agreement and commission took the first payment to 450k)

Total return from rental first year: 3.6m (450 X

Expected annual returns onward : 2.8m


In percentage :

First year : 20 percent return on investment

Expected annual return onward: 15.5 percent


There was a time I got this value from tb (2016 - 2018), money market has always been around 13 percent at peak for me.

I'm just glad I now have a stable return of over 15 percent without worrying about rates dropping...


To blow your mind : I have just been introduced to developer style of real estate... I have already signed a property self.. Cost of buying land and building from ground up (foundation construction) is off... Based on the site engineers quotation, with 6m, we should finish the renovation work and paint the building. Family one off payment was 1.5m so in all, about 8m should finish everything. They are leasing the building to me for 12 years and annual returns expected is about 3.2m.. That's over 35 percent return annually.

I don't think I will ever go back from real estate...

That's my personal experience, so if anyone is looking for alternative, do your findings on real estate. And be careful, don't cut cost, always go through a reputable lawyer, they are not that expensive, street is hard even the lawyers fees are now negotiable lol... All the best.

Tobex4realTobex234:
The lunch will soon be over for the traditional banks that refuse to innovate. They will die. Yes, they are not immune to disruption.

Nokia died. Blackberry died. So all these FUGAZ or whatever you people call them, will die except they react quickly with the innovations from these Fintechs.

Oga you are beginning to go off point.You have not said what this your fintech in Nigeria are doing to make money for those who are into receiving money from people for acclaimed investment from all I am reading.You are talking of banks that are well regulated and we know what they are doing to make money.And if is about apps most of them are already into it.You are here shouting of fund managers when they close shop you don't know who or how to hold anybody responsible.The banks if they tend towards distress the cbn will come in and you are talking about business that all they need is just to go off line and close one or two shops by then the founder will already be in bahamas flexing as a threat
Oga abeg bring another topic

ojesymsym:
Occupancy rate for this type of apartment is around 200%. As one de commot another one de enter.

Nice one

Yes. It should have been sold out within the first week after completion. But I was following my brother's advise to insist on 2 years first payment. Na so everyone dey turn back once they come for inspection and heard the landlord is requesting 2 years first payment. After 3 months nobody pay , bros still dey advice me them go take am no worry, I just call my caretaker to start taking one year jare, I needed money... Sharply, tenant full house...

Your brother wanted you to break Lagos state government law?

I think people who rent such apartments know the competition and tend not to default.

But I think your building cost is kind of low. How did you achieve that?

ade101:


Yes. It should have been sold out within the first week after completion. But I was following my brother's advise to insist on 2 years first payment. Na so everyone dey turn back once they come for inspection and heard the landlord is requesting 2 years first payment. After 3 months nobody pay , bros still dey advice me them go take am no worry, I just call my caretaker to start taking one year jare, I needed money... Sharply, tenant full house...

ojesymsym:
Your brother wanted you to break Lagos state government law?

I think people who rent such apartments know the competition and tend not to default.

But I think your building cost is kind of low. How did you achieve that?

very very low cannot achieve same with that price out Lagos ....each room and palour will cost around 2.5m x8 =20m out side land...

seyisanya:
Very true. That's why young investors need to understand what they are doing and not get carried away with the fact that they're still young so they can take higher risks. Hence, they get involved in all sort of Ponzi schemes and buy any coins in the name of crypt0 investment.

While I understand the need for caution while investing, it's interesting you equate crypt0 to ponzi...

That you don't understand something does not mean those who do are wrong. A good number of Nigerians don't understand Facebook or Twitter, it doesn't stop those platforms from having revenues that a lot of states combined don't have. Moreso, those platforms affect the day to day running of our nation (e.g SARS protests)

Coming unto investment, there's the inherent risk of volatility in trading crypt0 (just like any other market) moreso when folks move away from Bitc0in. But what are the alternatives for a young savvy investor? I'm sure if it was TB's or the NSE young Nigerians were trooping to, you wouldn't call it ponzi...

Taking a look at the NSE, most of the older folks there have no idea they have been loosing money in real terms over the years. I've pointed out here that someone who just kept money in dollars 10years ago would have outperformed over 95% of NSE traders over the last decade.

We keep hearing FUGAZ as the posterboys of the NSE... Take a look at the FBNH monthly price chart for over 10 years (though likely bottomed) and tell me how an average person made money on it just in naira terms (let's leave devaluation first)? A 30 year old who bought $100 worth of FBNH in 2010-'11 at an average of 11 naira per share will have stocks worth less than $17 today (dividends aside- which are even more pitiable). Imagine the case of those who bought at 15 naira. Is that what you want a young Nigerian to invest his sweat in? A market where you're almost guaranteed to lose money?

I've personally gone through individual stocks on the NSE 30 for the last decade and beside a few, almost all are in a pitiable state. Compare that to stock prices of household US companies and you see the difference. That young Nigerians are leaving their local market to invest in the U.S stock market should tell you something. Money is like water, if old folks had made money in a market, new players will troop in.


Bitc0in on the other hand has been about the best performing asset of the last decade. If I was going to risk investing, I know where to belong.

If you want you young folks to troop into local investment options such as the NSE, then the narrative should be fixed.

freeman67:
Piggyvest said they started operations as piggybank in 2016 but decided to change to the present name to give investors opportunity to do some themselves.

Their investments interests as was displayed there in their app is in Agriculture (Animal Husbandry; Cow and Chicken rearing, Cashew, rice and corn farms), Real Estates ( This one seem to be in the offing for now because nothing was displayed there, Transportation ( Packaged Okada like Play) etc.
All these investments are fully booked. I don't know if there are other areas they invest people's funds in. Anybody will be scared of non - registered "bank".

Personally after installing that app and trying to go through what they have to offer on other platforms, There have not satisfied my inquiries. They only thing I see people gunning after is high savings interest rates. So I will personally passover.


Like I see the house doing as usual. Trying to probe for truth to be revealed. It is a very good thing. Nobody is casting any aspersion on the fintech industry per say. Experienced people are just looking out for the newbie.

Some people have the financial muscle to loose ten million or even more and nothing will happen to them like Oga RayRay of MBA. That doesn't mean people should keep quiet and allow that man that made 2 million from block molding to venture into such business. It means the overall aim of this thread has been defeated.

Lol, I tell you o, that one nah suicide, if you carry blocks to gather funds only to be swept away by scammers. Our financial muscles diverse , eventhough I'm to invest the smallest fraction of my money , I will still ask questions and be super sure what I'm about to get myself involved. I hate that remorse feelings that comes after being played.

Nevertheless, when you are too afraid, you can't make headways. I would have made fortunes if I followed my wife advise as regards to B.itcoins, eventhough I saw the pictures I was too afraid to invest, but in all I'm content with what I have and that's all that matters. Being inquisitive should be encouraged here so as to help the novice.

SteveOfu:
Ada, KLM, xrp and trx are very good coins and Crypt0 is not a ponzi scheme, I am a living testimony. Yes pie is another good Investment, you don't need any money. check my signature to sign up

After being chased off the crypt0 thread, you've turned up here with your pie tra*h.....
And just for the record, anything aside bitc0in is high risk

ojesymsym:
Your brother wanted you to break Lagos state government law?

I think people who rent such apartments know the competition and tend not to default.

But I think your building cost is kind of low. How did you achieve that?

On the Island, I don't think they have the same tenancy law with the Mainland.

Did you run this same 30 years analysis for NYSE? What was the return like?

jedisco:


While I understand the need for caution while investing, it's interesting you equate crypt0 to ponzi...

That you don't understand something does not mean those who do are wrong. A good number of Nigerians don't understand Facebook or Twitter, it doesn't stop those platforms from having revenues that a lot of states combined don't have. Moreso, those platforms affect the day to day running of our nation (e.g SARS protests)

Coming unto investment, there's the inherent risk of volatility in trading crypt0 (just like any other market) moreso when folks move away from Bitc0in. But what are the alternatives for a young savvy investor? I'm sure if it was TB's or the NSE young Nigerians were trooping to, you wouldn't call it ponzi...

Taking a look at the NSE, most of the older folks there have no idea they have been loosing money over the years in real terms. I've pointed out here that someone who just kept money in dollars 10years ago would have outperformed over 95% of NSE traders over the last decade.

We keep hearing FUGAZ as the posterboys of the NSE... Take a look at the FBNH monthly price chart for over 10years and tell me how an average person made money on it just in naira terms (let's leave devaluation first)? A 30 year old who bought $100 worth of FBNH in 2010-'11 for an average of 11 naira per share will have stocks worth less than $17 today (dividends aside- which are even more pitiable). Imagine the case of those who bought at 15 naira. Is that what you want a young Nigerian to invest in? A market where you're almost guaranteed to lose money?
I've personally gone through the NSE 30 price charts for the last decade and beside a few, almost all are in a pitiable state. That young Nigerians are leaving their local market to invest in the U.S stock market should tell you something. Money is like water, if old folks had made money in a market, new players will troop in.


Bitc0in on the other hand has been about the best performing asset of the last decade. If I was going to risk investing, I know where to belong.

If you want you young folks to troop into local investment options such as the NSE, then the narrative should be fixed.

ojesymsym:
Did you run this same 30 years analysis for NYSE? What was the return like?

NSE 30 means group of 30 tstocks on the NSE which are usually the top 30.

You also have NSE 50

Most stock exchanges have such groups. It gives an idea of just what the big boys are doing.

Akin3891:


Lol, I tell you o, that one nah suicide, if you carry blocks to gather funds only to be swept away by scammers. Our financial muscles diverse , eventhough I'm to invest the smallest fraction of my money , I will still ask questions and be super sure what I'm about to get myself involved. I hate that remorse feelings that comes after being played.

Nevertheless, when you are too afraid, you can't make headways. I would have made fortunes if I followed my wife advise as regards to B.itcoins, eventhough I saw the pictures I was too afraid to invest, but in all I'm content with what I have and that's all that matters. Being inquisitive should be encouraged here so as to help the novice.

It's easy to look from outside and see all the money you would have made... Trading aint that easy...

Most folks lose not because of the market, but because they're overtaken by human greed and little trading experience

jedisco:


After being chased off the crypt0 thread, you've turned up here with your pie tra*h.....
And just for the record, anything aside bitc0in is high risk

You and your minions chased me, abi? Oga Google pie and when you want to register use y link

Yungmil:
pls is it safe to invest with them?

Yes

SteveOfu:
You and your minions chased me, abi? Oga Google pie and when you want to register use y link

Toh... No vex... Forgive me... But tge pie stuff was getting annoying...

jedisco:


Toh... No vex... Forgive me...

Vex ke! life is too short to be worked up, your phone, your hands.

Okay, was asking what their growth rate was also like? How many also went bankrupt along the way etc.

jedisco:


NSE 30 means group of 30 tstocks on the NSE which are usually the top 30.

You also have NSE 50

Most stock exchanges have such groups. It gives an idea of just what the big boys are doing.

ojesymsym:
Okay, was asking what their growth rate was also like? How many also went bankrupt along the way etc.

I looked at the historical share price of currently listed NSE companies...
You can check them out on investing(dot)com