Broadcasting
From Struggle to Stability: How FinTech is Helping Nigerian SMEs Overcome Cash Flow Challenges
When Mrs. Agbaje started her school in Ibadan twelve years ago, she didn’t envision a tech-enabled future. Her dream was simple—provide affordable, quality education to children in her community. For the most part, she made it work. But as the school grew, a new challenge took root. It wasn’t infrastructure. It wasn’t teacher retention. It was something far more basic: getting paid.
Each new term brings the same pattern. Parents promise to pay fees “by next week.” Some follow through. Many don’t. As the term wears on, Mrs. Agbaje finds herself juggling spreadsheets, reminder texts, and awkward conversations in car parks or at school gates. Meanwhile, salaries must be paid, books restocked, diesel bought. More often than not, she dips into personal savings to keep things running.
Her story is common across Nigeria. Small businesses—whether they’re schools, salons, logistics firms, or cooperative groups—are constantly navigating the emotional and financial toll of delayed payments. And it’s not just a matter of inconvenience. A recent study by MacTay Consulting found that Nigerian SMEs wait between 60 to 120 days on average to receive payment for services or products already delivered. That kind of delay is more than a hiccup. It threatens livelihoods. It blocks growth. It’s a silent killer.
For Chuks, who runs a car hire service in Enugu, the issue is tied to his bigger corporate clients. They insist on “net 30” or “net 60” terms—industry-speak for “we’ll pay you in a month or two.” That might be manageable for a large fleet with strong cash reserves, but for someone like Chuks, every week matters. With fuel prices rising and maintenance bills stacking up, he’s often forced to park cars because he doesn’t have the cash to fix them—even when work is lined up.
What links these stories is the reality that small businesses operate in a system where money is constantly in motion but rarely on time. Customers often mean well, but their own financial instability creates a domino effect. And the existing tools to manage payments—handwritten ledgers, POS machines, WhatsApp reminders—were never designed for structure. They’re patched solutions to a systemic problem.
Even digital banking, for all its advancement in Nigeria, hasn’t solved this issue. Many SMEs still operate informally, managing finances through personal bank accounts or apps not tailored to business needs. The result is a messy web of follow-ups, reconciliations, and emotional strain. Business owners become debt collectors, chasing down what they’ve already earned, time and time again.
What’s often missed in conversations about entrepreneurship is just how deeply this problem cuts. Payment delays mean rent can’t be paid on time. It means holding off on hiring a new staff member, or letting go of a part-time assistant. It means saying no to growth opportunities, not because they’re not viable, but because the cash flow isn’t predictable enough to take the risk.
And when you zoom out, the implications are national. Small businesses make up over 90% of enterprises in Nigeria. They contribute nearly half of the country’s GDP and employ a significant portion of the workforce. Yet, their greatest enemy isn’t market competition—it’s irregular income. This is a structural inefficiency that deserves far more attention than it gets.
Slowly, however, change is beginning to show. A quiet revolution is underway—one where technology is stepping in not as a trend, but as a tool for financial stability. More SMEs are beginning to explore digital solutions that streamline payments and reduce friction between businesses and customers.
Among these solutions is PaywithAccount, a new tool launched by Nigerian fintech company OnePipe. Designed specifically for businesses with recurring payments—schools, cooperatives, service providers—it allows them to automate collections directly from customers’ bank accounts. With full consent and transparency, payments can be scheduled, reducing the need for repeated follow-ups or awkward reminders.
For Mrs. Agbaje, this has made a significant difference. Parents receive structured payment plans, reminders go out automatically, and debits happen based on prior agreement. She now spends less time tracking who has paid and more time planning curriculum upgrades and engaging with teachers.
The benefit isn’t just financial—it’s emotional. When business owners don’t have to chase payments, they gain time, clarity, and confidence. They can plan ahead, restock inventory, or finally invest in that expansion they’ve put off for years. And for customers, the experience feels more professional, more trustworthy. Everyone wins.
Technology won’t solve every problem for Nigerian SMEs. But smart, well-designed financial tools are starting to remove some of the biggest roadblocks—quietly and effectively. And that’s the point. The best systems aren’t flashy. They work in the background, reducing stress, restoring dignity, and enabling business owners to focus on what truly matters.
For Ope Adeoye, founder of OnePipe, the issue is personal. “Every Nigerian knows someone who runs a business—a cousin, a friend, a neighbour. When they suffer from late payments, it affects whole families and communities. Fixing this isn’t just a business goal—it’s a social one.”
In a country as dynamic and entrepreneurial as Nigeria, the challenge is rarely about lack of ideas. It’s about systems that help those ideas survive. And one of the most overlooked systems is the way money flows—or fails to.
As more SMEs embrace tools that put payment on autopilot, a future of stability—rather than constant survival—starts to feel possible. And in a nation powered by small businesses, that kind of shift could move mountains.
Lagos State Electricity Regulatory Commission (LASERC) has issued a new directive establishing a formal regulatory framework for electricity market operations within Lagos.
With the release of Order No. LASERC ORDER/001/2025, the commission finalizes the shift of oversight from the Nigerian Electricity Regulatory Commission (NERC) to LASERC, aligning with the Electricity Act 2023 and Lagos State Electricity Law 2024.
Under the new regulations, individuals or entities involved in electricity-related activities in Lagos must obtain a license or permit from LASERC. Licenses issued by other regulatory bodies will no longer be recognized. Unlicensed operators must immediately halt operations and apply for proper authorization to avoid penalties, which include a fine of ₦20 million and additional daily fines of ₦20,000 for continued violations.
LASERC has encouraged entities unsure of their regulatory status to seek clarification to prevent sanctions. Despite the transition, existing national guidelines, including tariff structures, grid codes, and safety regulations, will remain in effect unless amended.
Dr. Fouad Animashaun, CEO and Executive Commissioner of LASERC, emphasized that the order is designed to ensure a secure, efficient, and reliable electricity market in Lagos.
He reiterated the commission’s commitment to global standards and safeguarding the interests of electricity consumers and investors.
This policy marks a significant shift in the state’s power sector and aims to enhance regulatory compliance while ensuring a more structured and effective electricity market.
Video entertainment company MultiChoice’s woes are persisting with the company continuing to suffer massive losses in revenue and subscribers.
This emerged today when the DStv parent company announced its financial results for the year ended 31 March (FY25).
In a statement to shareholders on the Stock Exchange News Service, the JSE-listed firm says the past two financial years have been a period of significant financial disruption for economies, corporates and consumers across sub-Saharan Africa due to challenging macro-economic factors.
Combined with the impact of structural industry changes in video entertainment such as the rise of piracy, streaming services and social media, this has materially affected the overall performance of the MultiChoice Group, it notes.
Over this period, MultiChoice says the group lost 2.8 million active linear subscribers and had to absorb a R10.2 billion negative impact on its topline due to local currency depreciation against the US dollar.
For the year ended 31 March, the company reveals that linear subscribers were down 1.2 million or 8% year-on-year (YoY) to 14.5 million active subscribers, with the loss evenly split between South African (600 000) and Rest of Africa (600 000).
Although reflecting an improvement on FY24 trends, MultiChoice says this indicates ongoing broad-based pressure across the group’s entire customer base.
Active paying Showmax subscribers were up 44% YoY, reflecting healthy growth and gaining regional market share, it adds.
Group revenue declined by R5.2 billion or 9% YoY to R50.8 billion, mainly due to an 11% decline in subscription revenues (-1% organic) caused by foreign currency and subscriber volume headwinds and the deconsolidation of the NMSIS insurance business from December 2024, it explains.
According to the firm, this was partially offset by inflationary pricing and new product growth (DStv Internet, DStv Stream and Extra Stream).
Trading profit, which declined by R3.8 billion or 49% YoY to R4 billion, was materially affected by the R2.3 billion organic increase in trading losses in Showmax and the R5.2 billion in foreign currency revenue losses, partially offset by a significant outperformance in delivering total cost savings of R3.7 billion.
Adjusted core headline earnings, the board’s revised measure of the underlying performance of the business, shifted to a loss of R800 million (FY24: earnings of R1.3 billion) due to lower trading profit and hedging losses in FY25 (compared to gains in FY24), partially offset by smaller losses on cash remittances from Nigeria.
The group incurred a free cash outflow of R500 million in FY25 (FY24: inflow of R600 million), impacted by lower profitability, higher lease repayments due to timing and partially offset by improved working capital management as well as a 29% YoY decline in capex.
At year-end, the group held R5.1 billion in cash and cash equivalents and retains access to R3 billion in undrawn general borrowing facilities.
A part of the R12 billion term loan was repaid early by using the R900 million upfront proceeds from the NMSIS transaction (ie R1.2 billion, net of tax), says the company.
The group operates in numerous markets across Africa and internationally, resulting in significant exposure to foreign exchange volatility.
Amid the challenges, MultiChoice states that management acted decisively to ensure that the group could withstand these headwinds, focusing on key areas within its control.
It notes that this has meant maintaining a discipline of inflationary pricing, with price increases of 5.7% in South Africa in FY25 (FY24: 5.6%) and an average of 31% in local currency in Rest of Africa (FY24: 27%), which enabled the group to offset subscriber volume pressures and deliver 1% YoY organic revenue growth in the current financial year.
In addition, further efficiencies were implemented to manage costs and cash flows without unduly sacrificing the group’s customer value proposition, it adds.
In this regard, the group delivered R3.7 billion in cost savings, well ahead of management’s initial R2 billion target (and the revised R2.5 billion target set at interims) and almost double the R1.9 billion saved in FY24, the company says.
Afia TV & Radio has announced its official entry into the Lagos media market, in its commitment to expanding the broadcaster’s footprint, connecting businesses to audiences across Nigeria, and redefining regional media excellence.
Chief Emeka Mba,
Nnamdi Obanya, general manager of Afia TV & Radio, said there is only one digital satellite and one digital station in the southeastern region of Nigeria, which is Afia.
Obanya, stated that: “We are specialists in developing products. A programme on our channel, ‘How Market’, is where we talk to the people in the market to tell their stories and advertise their products on AFIA.”
According to him, “the market world has changed a lot, as the physical market has become a ware house while people are buying digitally.”
Chief Emeka Mba, founder and CEO, stated: “The parley brought together top media buyers, advertising agencies, and communication professionals for engaging conversations around emerging trends, innovation, and future-forward strategies in media planning and buying. The event also served as a platform for Afia TV and radio to unveil its offerings, platforms, and unique value proposition to Lagos-based stakeholders.”
While noting that they are thrilled to bring Afia’s fresh, original, and regional perspective to Lagos, Mba said, “this parley signals our readiness to collaborate, innovate, and deliver impactful results for our partners through data-driven content and targeted reach especially for brands looking to penetrate the southern Nigerian market.”
Equipped with modern broadcast studios, digital-first production capabilities, and a highly experienced team, Afia TV & Radio is poised to make a bold impression on the Lagos media landscape.
The media brand delivers high-quality programming ranging from news and documentaries to lifestyle, business, culture, and entertainment only in south-east but in Lagos, African and beyond, we want to be chief marketing platform of the eastern region, we are the only 24/7 radio station now in Enugu.
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