Odunayo Eweniyi at PiggyVest: Fostering a Savings Culture among Nigerians for a Better Future
| Case Code: LDEN218 Case Length: 12 Pages Period: - Pub Date: 2024 Teaching Note: Available |
Price: Rs.400 Organization : PiggyVest Industry :Financial Services Countries : Nigeria Themes: Women Entrepreneurs, Leading Change, FinTech,Women in Business |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
Co-founded in 2016 by female tech-entrepreneur Odunayo Eweniyi (Eweniyi) and her colleagues Somto Ifezue (Ifezue) and Joshua Chibueze (Chibueze) , PiggyVest was the first and among the largest online digital savings and investment platforms in Nigeria that helped Nigerians save small amounts of money daily, weekly, or monthly. Eweniyi and her company PiggyVest tackled a problem endemic to Nigeria and across Africa – savings. According to the company, 80% of Nigerians – and almost all Africans – needed to save at least 40% of their monthly income to survive and pay for every day expenses. However, in a country such as Nigeria with no credit system to speak of, the vast majority of payments were made in cash and, inevitably, any money that had been saved melted away..
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