In this interview….
Could you give us a brief overview of what OjirehPrime Financial Services does?
Answer: OjirehPrime is a fintech mobile-only banking platform popularly known as digital banks. We offer seamless, cost-effective and customer-focused financial products that meet the everyday needs of young Nigerians with savings accounts provided by Solid Allianze Microfinance Bank Ltd which is licensed by the Central Bank of Nigeria with deposits insured by the Nigerian Deposit Insurance Corporation (NDIC).
How has OjirehPrime Financial Services contributed to infrastructure development in Nigeria?
it’s worth noting that OjirehPrime’s efforts are focused mostly on financial services and technology, rather than direct involvement in physical infrastructure projects. However, by improving access to financial services and leveraging technology for banking solutions, we have contributed to the advancement of financial infrastructure and services available to Nigerians, some of which include: financial inclusion, ease of transactions, building innovative banking solutions, and supporting economic activities by providing a platform for easy financial transactions.
How does OjirehPrime Financial Services aim to attract more investors for its infrastructure projects?
As a fintech, we aim to attract prospective investors by demonstrating value and having a firm grasp of our economic units, among other things, such as our governance structure, transparency, accountability, policies, compliance, and alignment with regulations as we feel that these are the fundamental building blocks for growth and demonstrating value on investment returns.
How does OjirehPrime Financial Services attract investment interest from pension funds, insurance firms, and other long-term investors?
Our strategy for attracting investors looks at a lot of different factors, such as how strong our traction is, how clear our units of economics are, the quality of our team and how our governance structure is set up. We are still in the early stages of talks with insurance companies and pension funds. On the other hand, we have long-term relationships with private equity organizations and individual investors.
What should a potential investor expect from an investment in OjirehPrime Financial Services’ infrastructure projects?
We put our best foot forward when engaging a potential investor, which begins with presenting a clear investment proposition, demonstrating strong potential on investment returns, transparency and reporting, exit strategy or liquidity options, stability and long-term viability, communication and investor relations. These to us are critical factors we believe any investor would look out for.
Which measures have been employed by OjirehPrime Financial Services to expand the debt capital market, investor base, and new sources of capital for infrastructure financing?
Expanding the investor base for us has a lot to do with building relationships and collaborations with investment funds and engaging in Investor outreach programs to create market education and brand awareness for investors about the benefits and opportunities within our infrastructure financing sector.
As one of Nigeria’s legitimate leading global investment management companies, what is your strength in the industry, handling of competition and what does OjirehPrime Financial Services do differently?
Technology by itself is not a competitive edge if the user experience is not put first. This is something we’ve said many times. These days, it’s hard to compete based on the quality of your technology. That’s why we put so much effort into creating the best experience for our customers. Most people have two or three apps on their phones, and they’ll usually go with the one that gives them the best experience.
With over half a decade of impact, what is the long-term plan for reaching more milestones in business operations?
Our long-term playbook is to position the company as a global fintech for young Africans and we’re passionate about this because data tells us that Africa will account for 25% of the global population by the year 2050. This isn’t just random data but rather speaks more to a multi-shift across generations which will completely alter how we run operate and manage our daily cash flow keeping in mind that we’re already dealing with a generation that does not think of a bank as a physical building but a mobile app on your phone that can be deleted in 5 seconds which is why we constantly prioritize the experience we create for our customers.
Last year, OjirehPrime Financial Services raised over $1.2 million from mostly individual investors who saw potential in the story of the company and were bold enough to place a bet on the company, what are the plans to attract additional funding from other investors to reach a capacity of $21 million within ten years?
Our raise last year helped stabilize our operations and set us in tune for the next phase of our growth plan. We are currently in talks with institutional and private investors who would invest in our next new fund which we’ve broken down into smaller milestones starting with $2.5million after which we would build top-up rounds till he achieves our full funding goal.
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