Leading African B2B and B2C FinTech company, NowNow has partnered with the Lagos
Business School’s (LBS) Sustainable Inclusive Digital Financial Services (SIDFS) to initiate
a financial education and literacy program aimed at driving Nigeria’s financial inclusion
growth.

NowNow will utilize SIDFS’s rich data, library content, and resources to provide
financial and digital literacy tools for its customers to ensure smart financial planning. Most of
NowNow’s customersNigerians have never had a bank account, so it’s the company’s social
mission to provide the proper educational support.

The Lagos Business School with the support from Bill and Melinda Gates Foundation
launched the Sustainable Digital Financial Services Project in Nigeria in 20152016. The
initiative engages in research and advocacy projects with the goal of creating an inclusive
ecosystem for financial services and understanding. The SIDFS supports the development
and promotion of sustainable solutions to Nigeria’s financial inclusion challenges and help
more Nigerians access financial services.

In partnership with SIDFS, NowNow will adapt the content into easily digestible format for specific audiences. The fintech company aims to bridge the gap between the banking system and the unbanked population by providing
educational content through different channels to raise awareness and establish financial inclusion.

Lekan Akinjide, the Partnership Director of NowNow Digital Services, comments, “We
strongly believe that financial inclusion should be complemented by financial education. In
this regard, we are excited to partner with the Sustainable and Inclusive Digital Financial
Services of the Lagos Business School to provide financial literacy directly to Nigerians. Our
partnerships with SIDFS is critical to moving the financial inclusion needle to ensure citizens
have the necessary knowledge and skills to use financial services.”

Also speaking on the partnership, Olayinka David-West, the Programme Lead at Sustainable
Inclusive Digital Financial Services (SIDFS), said; “Since 2016, LBS’ Sustainable and
Inclusive Digital Financial Services has supported the financial services ecosystem with rich
evidence-based insights, particularly about women, youths, and rural dwellers, who are the
most excluded groups.

Research shows that financial literacy is a driver of financial inclusion
and providing financial education can produce outstanding results in the quest to integrate
excluded people into the formal financial system. We are excited to work with NowNow to
improve financial literacy among Nigeria's most excluded demography and look forward to
the impact and outcome of our collective efforts.”

NowNow’s mission is to deliver best in class financial services to SMEs, banking agents and
consumers, and provide financial empowerment to Africans. The long-term partnership
would be in phases with the initial offering focused on women before expanding to youths
and then to other sub-categories. The strategy to focus on women at the initial stage is
because informed by the statistics that they form a greater percentage of the financially

excluded groups and are more excluded from the formal sector in comparison to the other
groups. Armed with a rapidly growing product suite & highly agile technology platform, NowNow
seeks to build the world’s best technology that digitizes cash payments for Africans. The
innovative company is focused on solving everyday financial challenges by creating the
largest fintech ecosystem in Africa as well as supporting the financial inclusion goal in the
continent.

Sharing is caring!
Was this article helpful?
YesNo
Loading...