Tech Firm Targets Low-income Earners With Affordable Financial Services
Kasim Sumaina in Abuja
A technology firm, Abaaly Technology App, has said its set to provide financial services to Nigerians, targeting low-income earners and businesses struggling with access to financial platforms.
The Chief Executive Officer (CEO) of Abaaly, Mr Power Eden, gave the hint in Abuja during a news conference organised to mark the one-year anniversary of the launch of the App.
The app, Abaaly is a Nigerian-built, globally scalable digital infrastructure platform to redefine how people communicate and transact in the modern digital economy.
According to Eden, the platform was engineered to simplify everyday digital experiences while enabling deeper connectivity among people, businesses and services within a single secure environment.
He added that the app would bridge financial gaps and provide affordable financial solutions to the masses. “Abaaly platform is building infrastructure to provide financial services to Nigerians, with potential to support small-scale traders and regional businesses as Africa’s digital economy grows.
“The app is also designed as an innovative digital platform that combines communication, social interaction and payments to provide seamless service delivery. Its immediate focus is to provide financial services to Nigerians and the expansion will be done in compliance with relevant legal and regulatory requirements across jurisdictions,” he said.
Speaking in similar vein, the Chief Financial Officer (CFO) of Abaaly, Mr Chris Mboho, said it was a well-designed unified digital infrastructure with potential to bridge gaps when ecosystems operate in isolation.
He noted that the app will enable more seamless payment experiences, efficient business-to-business transactions and support regional trade, subject to legal, regulatory and technical requirements.
“The app will facilitate a detailed connected digital ecosystem, enabling systems, institutions and merchants to connect, collaborate and support cross-border economic activities to achieve full benefits of digital transformation,” Mboho said.
On her part, Dr Linda Middleton, Executive Director, Investment, said the management had rolled out two per cent of its private shares at N500 per share.
“We have decided to bring the price of the shares to N500 as against one dollar. The aim is to give every Nigerian a stake in Abaaly.
“Today’s celebration marks the victory of Abaaly being online and the share offer is the best gift we are giving to Nigerians. The app and data are owned and serviced by Nigerians; this is also a Nigerian dream brought to life,” Middleton said.
