It is no news that Stripe, an American tech company has recently acquired Paystack, a Nigerian Fintech company for $200 million.
This is a facelift for the average Nigeria youth considering the chaos it is surrounded with especially on the government end.
According to the Central Bank of Nigeria (CBN), an SME may be defined as a business with annual turnover of less than NGN100 million and/or less than 300 employees.
Due to a large audience of SME’s, the market has seen competitions which has brought about innovations and efficient means of production.
Also, the government has been able to rake in more income via the Value added tax (VAT) and Withholding taxes that is laid on the inputs and outputs of the market.
A major setback to an average Nigerian SME is government fundings through the CBN which may not come but by internal connections. Nigerian SME’s also seem to enjoy less attention from the rest of the world due to imbalances in the systems put in place and the corrupt practices of authorities.
However, Nigeria has some of the best cities to run a business in this part of the world which is also why we have the top two richest man in Africa to be from here.
We at Picharge are proud of Nigeria and would continue to be one of the best Fast charging cable producer in the world.
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