General News
Peer-to-Peer Lending as a Means of Propelling Startup Growth
By Adeniyi Ogunfowoke
Capital is the livewire of any business, especially for startups and established small businesses. Hence, they are always seeking for some additional funding that is too small for an angel investor to get a return for their effort. Banks also think it’s not worth their time. That’s where peer-to-peer (P2P) lending is working to fill that lending gap. This model may be a solution for many small businesses that are struggling with just tapping smaller funding amounts.
Peer-to-peer lending involves borrowing money from your peers, including other business people and investors who are interested in relatively small financing amounts. It has been taken a notch higher with fintechs entering the fray. Small business owners and startups can now borrow millions of naira at flexible interest rates.
Why Consider Peer-to-Peer Lending
There are many reasons to consider a P2P loan, but the most compelling is that you do not require a collateral. Also, lower interest rates tend to be available, depending on your loan amount and loan term, because the peer-to-peer lenders operate with low overhead. You can repay the loan early and not have to contend with any prepayment penalties. Since it is an online lending environment, you’ll also enjoy faster approval and no paperwork except for a few online forms and a digital signature.
What To Look Out For
In Nigeria today, there are so many P2P lenders. Entrepreneurs have a potpourri of options to select from. You need to consider what this type of funding requires of you in order to optimise the benefits.
Some of the things that a good P2P lender must have include: easy access to working capital, quick registration, low-interest rate, collateral-free, and flexible repayments plan within 1-6 months. All these aforementioned are what makes Jumia Lending very unique. Jumia Lending is an initiative that gives you the opportunity to grow and expand your business by granting you access to fast and easy short-term working capital.
As an entrepreneur looking to expand the horizon of your business, you can sign up to sell on Jumia and after 6 months of uninterrupted sales on the platform, you will qualify to apply for Jumia Lending. In fact, before you even qualify for the loan, you will experience a significant increase in sales because you are leveraging on the wide reach of Jumia.
Using P2P Lending Strategically
With these benefits and considerations in mind, it’s important to look at using P2P lending in a strategic way.
Determine which P2P lender is best for you. Check reviews and get peer recommendations that relate their experiences with a P2P lender, from application to pay off.
Consider all other lending options that are available to you. Do a comparison to see which lending option offers you the best rate, terms, and amount for what you are looking to accomplish with your funds and the state of your business.
Don’t borrow money just to borrow it (or spend it just to spend it). Create a clear plan and disciplined approach to using the funds that will make the money go the distance. That means looking at the ways you can use the least amount possible through a lean startup strategy.
Linda Saunders
Businesses that fail to adopt agentic AI, however, risk disruption by competitors or savvy upstarts. This demands a proactive and strategic response from leaders. In this new era of human-AI collaboration, leaders must center their efforts around two key pillars: large-scale employee reskilling and establishing a trustworthy AI ecosystem.
Reskilling for the agentic AI era
With just 15% of workers saying that they have the education and training necessary to use AI effectively, reskilling must be a priority for every business leader.
Employees must be given access to learning opportunities so they can adopt human-AI collaboration skills, including a foundational understanding of agentic AI and prompt engineering — a way to provide clear and effective instructions to AI systems.
Consider, for instance, the evolving role of developers. With AI agents capable of handling routine coding, developers can focus on bigger-picture tasks like system design and future planning.
According to Salesforce’s latest State of IT survey of software development leaders, more than nine in 10 developers are excited about AI’s impact on their careers, and an overwhelming 96% expect it to change the developer experience for the better. More than four in five believe AI agents will become as essential to app development as traditional software tools, the survey found.
In addition to technical abilities, cultivating human and business skills is vital for fostering a trusted environment where teams feel comfortable experimenting with AI. And, as every employee increasingly manages individual or even teams of agents, developing basic managerial skills across the workforce will become increasingly important.
Identifying the skills is just the first step. To succeed in the agentic AI era, businesses need to develop a comprehensive strategy that incorporates these skills into their workforce plan. This includes setting clear, measurable goals and actively tracking progress.
Managers need to provide active guidance and support to employees throughout this transformation, ensuring the workforce remains relevant and engaged.
Adopting trusted AI across the ecosystem
As the capabilities of agents grow, so too does the responsibility to manage associated risks. It’s imperative to ensure these systems are fair and prevent stereotypes or alienation. The very qualities that make AI transformative can also lead to biases and erode trust if not managed.
To fully harness the potential of agentic AI, businesses must prioritize trust and safety at every stage of development and deployment. This means implementing strong security measures and adhering to ethical AI practices to safeguard data and ensure responsible use.
Guardrails for AI agents can be established using natural language topics and instructions specifying when an agent should escalate or transfer a task to a human. Concerns around data privacy and potential biases must be proactively addressed through strong data protection protocols and transparent communication.
Equally important are tools that foster transparency and empower users to make informed decisions regarding task delegation to AI. Employees need a clear understanding of the capabilities and limitations of the AI agents they collaborate with, alongside having control over the tasks being automated.
A key feature of Agentforce is its capacity for autonomous operation within specifically defined guardrails. This means that while AI agents can operate independently, making decisions and taking actions, they do so within boundaries established by human teams, ensuring alignment with business objectives and policies. The Einstein Trust Layer enables Agentforce to use any LLM safely by ensuring that no Salesforce data is viewed or retained by third-party model providers.
The power of reskilling and trust to drive innovation
The transition to an AI-powered future will bring challenges, particularly ensuring employees have access to the right infrastructure, high-quality data, and relevant skills.
However, by investing in reskilling and comprehensive training programs, organizations can empower teams to work effectively alongside AI agents, adapt to the evolving nature of work, and ultimately drive innovation in this age of digital labor.
Building a robust infrastructure that prioritizes trust and safety, and fosters transparency, will also be instrumental in mitigating disruptions and unlocking new opportunities for growth.
Ultimately, investing in both AI agents and human employees, and actively fostering their collaboration in a trusted way, will enable businesses to operate at scale and realize their full potential in the agentic AI era.
MTN Nigeria Communications Plc held its 2025 Annual General Meeting (AGM) in Lagos today, where shareholders reviewed the company’s full-year financial performance and endorsed its strategic priorities for the future.
The AGM came on the heels of a strong first quarter in 2025, during which MTN Nigeria invested a record ₦202.4 billion in capital expenditures and posted ₦133.7 billion in profit after tax, marking a major turnaround from a ₦392.7 billion loss in Q1 2024.
This 159% year-on-year surge in Q1 CAPEX—the company’s highest-ever quarterly investment—has gone into expanding network capacity, boosting data speeds, and enhancing service quality nationwide, in response to rising demand for digital services.
The Chairman of the Board, Dr. Ernest Ndukwe (OFR), addressed shareholders, saying: “On behalf of the MTN Nigeria family, I am proud to affirm that our business remains deeply rooted in strength and resilience.
“Our foundation remains solid, and our role within the broader economic landscape is unwavering, even amidst the challenges we encountered over the past year.
“As we reflect on this journey, I am inspired by the resilience of the Board, management, and staff of our Company, backed by the unwavering confidence of our shareholders, the valued support of our customers, and the immense potential of our nation, Nigeria.”
Dr. Karl Toriola, chief executive officer stated: “The year 2024 undoubtedly tested our resilience as we navigated a challenging operating environment marked by severe macroeconomic conditions.
“At MTN Nigeria, we viewed these challenges as catalysts for innovation and decisive action.
“We focused on what mattered most, strengthening the resilience of our network, prioritising customer experience, and accelerating the growth of our commercial operations through our customer value management initiatives.”
However, the company reported a ₦400.4 billion net loss for the year, largely due to ₦740.4 billion in foreign exchange losses from the devaluation of the naira, alongside elevated operating costs, and higher interest expenses. Due to negative retained earnings, the Board was unable to recommend a final dividend for FY 2024, consistent with regulatory requirements.
Looking ahead, MTN Nigeria remains optimistic, citing tariff increases, currency stabilisation, and easing inflation as key factors that will support the company’s return to positive equity in 2025.
Chief Financial Officer, MTN Nigeria, Modupe Kadri, commenting on this optimism said, “Our Q1 2025 results reflect strong operational execution and financial discipline, with service revenue up 40.5% and EBITDA growing by 65.9%.
“We delivered N133.7 billion in profit after tax, marking a significant turnaround from the prior year, while maintaining a healthy cash position and robust balance sheet metrics.”
During the AGM, all resolutions were passed by shareholders, including the adoption of the 2024 financial statements, the re-election of directors, and approval of remuneration policies.
The Q1 2025 report shows the company has returned to profitability and remains committed to strengthening network investments, accelerating digital inclusion, and delivering sustained value to its customers and shareholders.
Nigeria has taken a bold step toward deepening its innovation ecosystem with the official launch of the Start-up Consultative Forum, an initiative designed to accelerate the implementation of the Nigeria Start-up Act (NSA) and strengthen the country’s tech startup ecosystem.
While addressing the forum, NITDA’s Director General, Kashifu Inuwa CCIE, who was represented by Barrister Emmanuel Edet, the Ag. Director, Regulation and Compliance described the platform as more than just a stakeholder meeting.
“It is a commitment to building a stronger tech ecosystem through collaboration, inclusion, and data-driven governance, marking a new phase in the implementation of the Nigeria Startup Act,” he said.
He noted that the Nigeria Startup Act is more than legislation—it is a framework for national development. “Startups are not fringe players. They are central to Nigeria’s economic future,” he asserted.
Inuwa further mentioned that over the past eight months, NITDA has driven key activities under the Act. These include stakeholder workshops across 10 states, roadshows at tech events like Lagos Tech Week, the Omniverse Summit, Moonlight Conference and the Akwa Ibom Tech Week, and awareness campaigns through digital and direct engagement.
The forum, according to Inuwa, will serve as a feedback engine, spotlighting regulatory gaps, guiding policy improvements, and shaping a startup-friendly environment.
Under the Renewed Hope Agenda and the guidance of the Federal Ministry of Communications, Innovation and Digital Economy, NITDA continues to support startups through initiatives like the Startup Portal, tech infrastructure deployment, and digital skill training across the country.
The DG emphasised that for startups to thrive, policies must be inclusive and responsive. “Inclusion is not charity. It is a strategy,” he said, calling for equal representation across gender, region, and sector.
While inaugurating the members if the Conservative Forum on behalf of the Director-General, the Director of IT Infrastructure Solutions, Oladejo Olawunmi, ignited the forum with a call to action, envisioning it as a vital nexus for collaborative breakthroughs.
He inspired the members, saying, “We remain deeply committed to nurturing a space where innovation can flourish, and I call upon each of us to embrace the task ahead by shaping ideas into concrete policy and outcomes that leave a lasting impact.”
Earlier, Victoria Fabunmi, National Coordinator of the Office for Nigerian Digital Innovation (ONDI), in her opening address called the Forum, a “structured dialogue between those building the future and those enabling it.”
She outlined five key pillars for success: access to funding, capacity building, supportive policy, inclusive innovation, and global competitiveness.
She urged startups to speak boldly, private sector players to offer more than capital, development partners to scale what works, and government to harmonize efforts. “This Forum must be a problem-solving platform, not another talk shop,” she concluded.
With the Startup Consultative Forum now launched, NITDA aims to turn policy into action, ensuring startups are no longer on the sidelines, but at the center of Nigeria’s innovation journey.
The virtual event was attended by private sector players, development agencies, verified Ecosystem Support Organisations (ESOs), angel investors, venture capital firms, and labelled startups from across the country.
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