ADVERTISEMENT
TechEconomy
Monday, June 2, 2025
No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Podcast

Home ยป From Struggle to Stability: How FinTech is Helping Nigerian SMEs Overcome Cash Flow Challenges

From Struggle to Stability: How FinTech is Helping Nigerian SMEs Overcome Cash Flow Challenges

Latifat Fashina by Latifat Fashina
March 28, 2025
in Fintech
0
FinTech is Helping Nigerian SMEs Overcome Cash Flow Challenges
...school kids and their teacher

...school kids and their teacher

RelatedPosts

Unity Bank | AfriGO

Unity Bank, AfriGo Explore Collaboration to Deepen Access to Electronic Payments

June 2, 2025

PalmPay Unveils โ€˜Passing the Batonโ€™ CSR Initiative

May 29, 2025

When Mrs. Agbaje started her school in Ibadan twelve years ago, she didnโ€™t envision a tech-enabled future. Her dream was simpleโ€”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 wasnโ€™t infrastructure. It wasnโ€™t teacher retention. It was something far more basic: getting paid.

Each new term brings the same pattern. Parents promise to pay fees โ€œby next week.โ€ Some follow through. Many donโ€™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 businessesโ€”whether theyโ€™re schools, salons, logistics firms, or cooperative groupsโ€”are constantly navigating the emotional and financial toll of delayed payments.

And itโ€™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. Itโ€™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 โ€œnet 30โ€ or โ€œnet 60โ€ termsโ€”industry-speak for โ€œweโ€™ll pay you in a month or two.โ€ 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, heโ€™s often forced to park cars because he doesnโ€™t have the cash to fix themโ€”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 paymentsโ€”handwritten ledgers, POS machines, WhatsApp remindersโ€”were never designed for structure. Theyโ€™re patched solutions to a systemic problem.

Even digital banking, for all its advancement in Nigeria, hasnโ€™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 theyโ€™ve already earned, time and time again.

Whatโ€™s often missed in conversations about entrepreneurship is just how deeply this problem cuts. Payment delays mean rent canโ€™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 theyโ€™re not viable, but because the cash flow isnโ€™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 countryโ€™s GDP and employ a significant portion of the workforce. Yet, their greatest enemy isnโ€™t market competitionโ€”itโ€™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 underwayโ€”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.

Breaking the Chains of Payments Inefficiency, OnePipe Launches PaywithAccount for SMEs

Designed specifically for businesses with recurring paymentsโ€”schools, cooperatives, service providersโ€”it allows them to automate collections directly from customersโ€™ 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 isnโ€™t just financialโ€”itโ€™s emotional. When business owners donโ€™t have to chase payments, they gain time, clarity, and confidence. They can plan ahead, restock inventory, or finally invest in that expansion theyโ€™ve put off for years. And for customers, the experience feels more professional, more trustworthy. Everyone wins.

Technology wonโ€™t solve every problem for Nigerian SMEs. But smart, well-designed financial tools are starting to remove some of the biggest roadblocksโ€”quietly and effectively. And thatโ€™s the point. The best systems arenโ€™t flashy.

They work in the background, reducing stress, restoring dignity, and enabling business owners to focus on what truly matters.

Breaking the Chains of Payments Inefficiency, OnePipe Launches PaywithAccount for SMEs
Advertisements
MTN ADS
Ope Adeoye, founder and chief plumber at OnePipe

For Ope Adeoye, founder of OnePipe, the issue is personal.

โ€œEvery Nigerian knows someone who runs a businessโ€”a cousin, a friend, a neighbour. When they suffer from late payments, it affects whole families and communities. Fixing this isnโ€™t just a business goalโ€”itโ€™s a social one,โ€ he said.

In a country as dynamic and entrepreneurial as Nigeria, the challenge is rarely about lack of ideas. Itโ€™s about systems that help those ideas survive. And one of the most overlooked systems is the way money flowsโ€”or fails to.

As more SMEs embrace tools that put payment on autopilot, a future of stabilityโ€”rather than constant survivalโ€”starts to feel possible. And in a nation powered by small businesses, that kind of shift could move mountains.

Loading

0Shares
Tags: MacTay ConsultingOnePipeOpe AdeoyePaywithAccount
Previous Post

How MoMo PSB Celebrated IWD 2025

Next Post

Showcase Your MVP and Compete for $10,000 at MarkHack 4.0

Latifat Fashina

Latifat Fashina

LATIFAT FASHINA is the Business/Finance Reporter at Techeconomy. She can be reached via: latifat.fashina@techeconomy.ng

Related Posts

Unity Bank | AfriGO
Fintech

Unity Bank, AfriGo Explore Collaboration to Deepen Access to Electronic Payments

by Latifat Fashina
June 2, 2025
0

Unity Bank Plc has reaffirmed its commitment to advancing electronic payment adoption and financial inclusion by partnering with domestic card...

Read more
PalmPay Unveils โ€˜Passing the Batonโ€™ CSR Initiative

PalmPay Unveils โ€˜Passing the Batonโ€™ CSR Initiative

May 29, 2025
Interswitch Group at 2025 Africa Soft Power (ASP) Summit in Nairobi, Kenya

How Interswitch Group Deepens Homegrown Innovation

May 29, 2025
SANEF and CIBN

SANEF, CIBN Partner to Expand Agency Banking Certification

May 29, 2025
Access Bank BVN and NRBVN

Access Bank Opens NRBVN Registration for Nigerians in Diaspora

May 26, 2025
Nigeriaโ€™s Top 10 Payment Gateway Providers

Nigeriaโ€™s Top 10 Payment Gateway Providers

May 23, 2025
Next Post
MARKHACK 4.0 Application

Showcase Your MVP and Compete for $10,000 at MarkHack 4.0

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Techeconomy Podcast

Techeconomy Podcast
Techeconomy Podcast

Infowave is brought to you by TechEconomy. Every week we will bring new stories from startups and influencers who are shaping and changing the world we live in. We’ll also bring you reports on topics you should know.

Follow us @techeconomyng for more.

TECH TALK EPISODE 2
byTecheconomy

PRODUCTIVITY AND WORK-Life Balance

TECH TALK EPISODE 2
TECH TALK EPISODE 2
May 22, 2025
Techeconomy
CYBERSECURITY ESSENTIALS
April 24, 2025
Techeconomy
Digital Marketing Trends and strategies for 2025 and beyond
February 27, 2025
Techeconomy
Major Lesson for Techies in 2024 and Projections for 2025
December 6, 2024
Techeconomy
Major Lessons for Techies in an AI-Driven World | Techeconomy Business Series Highlights
November 26, 2024
Techeconomy
Maximizing Profitability Through Seasonal Sales: Strategies For Success
November 8, 2024
Techeconomy
Techeconomy Business Series
October 15, 2024
Techeconomy
PRIVACY IN THE ERA OF AI: GETTING YOUR BUSINESS READY
May 30, 2024
Techeconomy
Unravel the Secrets of Marketing Everywhere All At Once with Isaac Akanni from Infobip | Infowave Podcast Episode 1
February 9, 2024
Techeconomy
The Role of Ed-tech in Life Long Learning and Continuous Education
October 19, 2023
Techeconomy
Search Results placeholder

WHAT IS TRENDING

https://www.youtube.com/watch?v=g_MCUwS2woc&list=PL6bbK-xx1KbIgX-IzYdqISXq1pUsuA4dz

Follow Us

  • About Us
  • Contact Us
  • Careers
  • Privacy Policy

ยฉ 2025 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS

ยฉ 2025 Techeconomy - Designed by Opimedia.

Translate ยป
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.