Rédaction Africa Links 24 with Guardian Nigeria
Published on 2024-01-31 02:01:31
CashBox, a technology firm, has raised concerns about the impact of rising inflation on businesses in Nigeria. The Chief Executive Officer, Sydney Imuetinyan Aigbogu, expressed these concerns during the firm’s fifth-anniversary celebration in Lagos. He urged the federal government to take urgent action to address the inflationary trend, which is particularly affecting small businesses in the country.
In addition to discussing the challenges posed by inflation, Aigbogu also outlined CashBox’s plans to reinvent and expand into other states across Nigeria. He emphasized the importance of keeping key operations in-house, particularly in marketing and technology, as outsourcing to third parties can be costly and less effective. Aigbogu also highlighted the significance of conducting thorough due diligence when making investments, stressing the need to ensure the security of funds.
Aigbogu disclosed that CashBox currently boasts over 500,000 users, with over 200,000 successful deposit transactions occurring monthly. The company’s user base is steadily growing on a monthly basis. To attract and retain customers, Aigbogu emphasized the importance of providing an easy-to-use and customer-friendly app, as well as offering a modern and appealing approach to saving money, which sets CashBox apart from traditional banks. He also emphasized the use of internet and social media marketing to reach the company’s internet-savvy customer base.
CashBox’s concerns about the impact of inflation on businesses reflects a wider issue facing the Nigerian economy. By highlighting the specific challenges faced by small businesses, the firm’s CEO has called on the government to take decisive action to address the issue. Additionally, CashBox’s plans for expansion and its focus on providing innovative, customer-friendly financial services demonstrate the company’s commitment to addressing the evolving needs of its users.
