While PWC in its 2017 Fintech report predicted that over 62 percent of customers will use mobile applications to access financial services within the next five years; many Nigerians still lack the financial literacy needed to help them optimally utilise financial opportunities. But who cares? Well, Omilola Oshikoya, founder of Omilola Oshikoya International cares.
In order to bridge this gap, Oshikoya recently launched The Tech World of Finance, a unique online platform where anyone: millennials, youth can get financially educated in the simplest and most affordable way.
“Our goal is to break down complex financial terms to as simple as ABC, and to make available to people for pretty much next to nothing,” she told Women’s Hub.
Although she maintained that the idea was divinely inspired, she said it came during the recession that hit Nigeria in 2018, a time when some Nigerians were heavily indebted, hence the need for an economic upturn and wiser financial decision by Nigerians.
“Given that Nigeria is made up of a youth population with an inclination for technology, speed, and convenience, it is important to adopt innovation strategies to educate them about finances in the most affordable way.
“We have created this online financial education platform…with access to a bouquet of financial products,” she said.
Already, the platform has 20 female contributors from across different spheres of finance who have contributed over 126 articles and videos. The platform also offers financial news beyond the articles, and weekly newsletter to reach its subscribers from 17 countries who make up a database of over 400.
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“We have a news section where we create financial news on everything that is going on in the financial industry, and make it simple for people to understand.
“We also have online courses by the Association of International Certified Professional Accountants where we have then online course called understanding finance for non- finance professionals. So for a start, who wants to know how to prepare financial statements, you can come and take the course,” she explained more about the platform.
While Oshikoya wants people to take advantage of the initiative, by consuming the resources on the platform wofin.org, she also desires to further grow the platform through partnerships leading to more opportunities for Nigerians.
The launch which coincided with Nigeria’s 59th Independence Day anniversary was an opportunity for the finance expert to vent her displeasure over the state of the economy, especially as it affected doing business in Nigeria.
“It’s hard enough to start a business,” she said. “But it’s actually harder to sustain a business in Nigeria.”
According to her, it is time for the government to come up with business-friendly policies. “There are so many levels of taxation. We need support and not people who would pull us down. We need incubators and places where you can pay very little in terms of rent to use the space,” she said. “We need good policies basically,” she added.
