Olumuyiwa Olowogboyega
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Technology in Africa, Politics
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Music and entertainment
Articles by Olumuyiwa Olowogboyega
Don’t Cry for Uber
If you missed last week’s Notadeepdive, catch up here. TOGETHER WITH CREDIT DIRECT This term, Credit Direct Checkout is going all the way with you. Get up to N1,000,000 to purchase iPads, laptops, and other school essentials from over 500 merchants. The news of Uber’s exit from Nigeria has dominated conversations this week, and you’d be forgiven for thinking it was the first cab-hailing service in Nigeria.
Moove-ing On!
If you missed last week’s Notadeepdive, catch up here and here. If this email was forwarded to you, subscribe for free: TOGETHER WITH CREDIT DIRECT This term, Credit Direct Checkout is going all the way with you. Get up to N1,000,000 to purchase iPads, laptops and other school essentials from over 500 merchants.
Uber to exit Nigeria September 2
Ride-hailing company Uber will begin winding down its Nigerian business today, ending a 12-year operation in the country. The decision to wind down Nigerian operations is connected to broader layoffs in the business, which affected 3,300 people, approximately 10% of its headcount. The ride-sharing giant is reducing the number of teams with one or two members by 50%, and letting go staff who are “more than seven layers down from the CEO,” per Bloomberg.
OPay’s Cheap Deposits
TOGETHER WITH CREDIT DIRECT When scale is the goal, Credit Direct Business is your partner. Thanks for reading Notadeepdive! Subscribe for free to receive new posts and support my work. Get funding, grow business funds and make bulk payments on one platform. If you missed Friday’s Notadeepdive, catch up. Around here, I often say that lending is easy and that you need cheap money to make it work.
OPay’s $121million School Fees
If you missed Wednesday’s unscheduled Notadeepdive, catch up here. TOGETHER WITH CREDIT DIRECT When scale is the goal, Credit Direct Business is your partner. Get funding, grow business funds and make bulk payments on one platform. On Notadeepdive, I frequently say that lending is easy. Once you find a source of funding (preferably customer deposits), a few hundred people will be milling around your app, trying to get a loan before the end of the day.
Retreat
If you missed last week’s Notadeepdive, catch up here. TOGETHER WITH CREDIT DIRECT Thanks for reading Notadeepdive! Subscribe for free to receive new posts and support my work. Your business doesn’t need 14 accounts. It needs a Credit Direct Business wallet. During the 2020 and 2021 funding boom, fundraising rounds were frequently followed by expansion announcements.
Interconnected
If you missed Friday’s Notadeepdive, catch up here. TOGETHER WITH CREDIT DIRECT Your business doesn’t need 14 accounts. It needs a Credit Direct Business wallet. At some point in October 2003, someone put a UBA card into a First Bank ATM and withdrew ₦1,000. Today, that sounds unremarkable, but it took nearly twenty years of engineering and an unusual act of cooperation among rival banks to make it possible. In 2002, Nigeria had roughly 90 banks, 68 ATMs and 1,800 POS terminals.
Break-even*
If you missed last week’s Notadeepdive, catch up here and here. TOGETHER WITH CREDIT DIRECT You shouldn’t have to choose between high returns and access to your funds. Let’s prove it to you. In late 2022, there were few jobs with a clearer KPI than running Jumia. Co-CEOs Jeremy Hodara and Sacha Poignonnec had just left after three years of promising and failing to deliver on profitability.
The unrepentant taxman
If you missed last week’s Notadeepdive, catch up here and here. Subscribe for free if this email was forwarded to you: TOGETHER WITH CREDIT DIRECT The app that has it all. Enjoy unlimited free transfers and grow your funds at 10% p.a. on the Credit Direct App. It was written in the stars that when Nigeria finally got around to taxing crypto, it wouldn’t be able to resist a touch of greed. Nigeria has never particularly liked crypto.
Go hard or GoLemon
If you missed Sunday’s Notadeepdive, catch up here. Subscribe for free if this email was forwarded to you: TOGETHER WITH CREDIT DIRECT Smart shoppers use Checkout so they spend only what they need to. Become a Smart Shopper today and buy your favourite gadgets from over 500 merchants with Credit Direct Checkout. The money is not in delivery One of the most underrated things about a physical supermarket is that the customer does most of the hard work.
The naira will do as it's told
If you missed last week’s Notadeepdive, catch up here and here. Subscribe here for free if this email was forwarded to you: TOGETHER WITH NOTADEEPDIVE Smart shoppers use Checkout so they spend only what they need to. Become a Smart Shopper today and buy your favourite gadgets from over 500 merchants with Credit Direct Checkout. Two chances On Monday, 23 April 1984, Maj.
Nigeria’s most prolific tech reporter is not human
If you missed Friday’s newsletter, catch up here. If this email was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT That phone. That watch. The gadget you keep removing from your cart. With Credit Direct Checkout, 25% down is all it takes to go from browsing to owning. Everyone and their daddy believes they should start a tech media publication. The thinking is that reporters at existing publications don’t have sufficient expertise.
Nigeria’s most prolific tech reporter is not human
If you missed Friday’s newsletter, catch up here. If this email was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT That phone. That watch. The gadget you keep removing from your cart. With Credit Direct Checkout, 25% down is all it takes to go from browsing to owning. Everyone and their daddy believes they should start a tech media publication. The thinking is that reporters at existing publications don’t have sufficient expertise.
Everyone wants to know about Jumia’s timeline
Welcome to the 150 people who joined Notadeepdive last week. If you’re new here, leave a comment below. I’ll pick two new subscribers at random and send them some Notadeepdive merch. And to OGs, last week’s Notadeepdive was our most-read newsletter ever, but you might have missed it. Check your Promotions or spam folder and, if it landed there, drag it back into Primary so the next one reaches you properly.
Our offence is that we invested
If this email was forwarded to you, subscribe here for free: TOGETHER WITH ZEDCREST WEALTH The Nigerian equities market has evolved significantly over the past two decades. Today, the market is more transparent, better regulated, and increasingly supported by technology that makes investing more accessible than ever before. The next phase of market growth will be driven by greater retail participation, particularly from a new generation of investors seeking long-term wealth creation.
Our offence is that we invested
If this email was forwarded to you, subscribe here for free: TOGETHER WITH ZEDCREST WEALTH The Nigerian equities market has evolved significantly over the past two decades. Today, the market is more transparent, better regulated, and increasingly supported by technology that makes investing more accessible than ever before. The next phase of market growth will be driven by greater retail participation, particularly from a new generation of investors seeking long-term wealth creation.
I made a podcast
If you missed Friday’s Notadeepdive, catch up here. Subscribe here for free: TOGETHER WITH CREDIT DIRECT Few things feel better than seeing your returns come in month after month. That’s the feeling Yield gives you, with one of the best rates in the market today. Start with Yield today. If you’ve read this newsletter for any length of time, you’ve watched me obsess over Jumia for years.
Cloud kitchen in search of work
If you missed last week’s Notadeepdive, catch up here. And if this newsletter was forwarded to you, subscribe for free here: TOGETHER WITH CREDIT DIRECT Few things feel better than seeing your returns come in month after month. That’s the feeling Yield gives you, with one of the best rates in the market today. Start with Yield today. Your favourite restaurant might be two hours away. That is nice to know on an ordinary day and no help at all when you want a hot meal now.
Food Delivery’s Battle for Nearness
I don’t write about Nollywood often, so if you missed it, catch up here. If this Notadeepdive edition was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT Get the most powerful vivo phone with just a 20% down payment. Use Credit Direct Checkout, the smarter way to shop. In Lagos, food is the cheap part (relative to inflation!); there is white rice or jollof rice on every street. Shawarma, mediocre spaghetti, and turkey are usually two stalls away on busy streets.
Nollywood's abundance problem
Last week, I wrote about MTN’s newest try at video streaming and shortly after publishing, a conversation with Adedeji Olowe sent me down a rabbit hole and led to today’s newsletter. Let me know what you think in the comments! TOGETHER WITH CREDIT DIRECT If it’s growth for you and your loved ones, choose Yield. There’s a perfect plan for everyone and every situation.
MTN Tries Video Streaming (Again)
If you missed this week’s off-schedule Notadeepdive editions, catch up here and here.And if this newsletter was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT Fewer loans. Better repayment. Higher amounts. Women in Nigeria’s credit market are quietly outperforming the averages, and the full picture is even more interesting. Nigeria’s Credit Landscape Report breaks down who borrows, why, and what it means for the future of credit in this country.
The Rule Everybody Wanted
If you missed last week’s Notadeepdive, catch up here and here. Around here, we talk about the idea that lending is easy. Getting customers to repay on time is usually where things get a little sticky. Since most customers are subprime borrowers who have no collateral, digital lenders must have their wits about them. At some point, a part of the industry decided that fear was a good solution to this willingness-to-pay problem.
Buy now, work later
If you missed Friday’s Notadeepdive, catch up here. If this newsletter was forwarded to you, subscribe here: TOGETHER WITH CREDIT DIRECT The answer might surprise you. The Nigeria Consumer Credit Insights Report breaks down who borrows, how much, for what, and what it reveals about financial behaviour across the country. The answer to that question is just the beginning. The point of Buy Now, Pay Later is that you want something. A coat, concert tickets, an iPhone 17 Promax.
The three-body theory
If you missed Friday’s Notadeepdive, catch up here. If this newsletter was forwarded to you, subscribe for free: TOGETHER WITH CREDIT DIRECT You don’t need an occasion to tell them they matter. Gift an investment because they deserve to know it today. Sometimes the corporate world aligns the incentives of three otherwise unconnected entities. Imagine the first entity as a late-stage startup that needs cash but doesn’t want to raise money at a down round.
What Segun Agbaje won
If you missed Wednesday’s Notadeepdive on Jumia (duh!), catch up here. And if this email was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT A thoughtful gift lasts a moment. A smart one grows with them. Gift an investment. There are two ways to think about banks and fintechs. The first is the ship. It’s large, visible, regulated, full of people, impossible to ignore, and not built for sharp turns.
Jumia is not a doorstep delivery company
If this newsletter was forwarded to you, subscribe for free: TOGETHER WITH CREDIT DIRECT You can wait another year, or you can start earning on Yield today. The general idea when you think of Jumia is of an e-commerce platform you visit when you want to buy, say, a new phone. You sift through a bunch of really expensive options, pay online, and it gets delivered to your doorstep in a major city like Lagos or Nairobi.
A history of Nigerian superapps
If you missed Friday’s Notadeepdive, catch up here. If this newsletter was sent to you, subscribe here: TOGETHER WITH CREDIT DIRECT Owning your dream gadget is much easier when you don’t have to pay the full price up front. With Credit Direct Checkout, you only need a 25% down payment to get that iPad, laptop, or more. If you go to a VC today and tell them you’re looking to raise money for a food delivery startup in Nigeria, you might get walked out of the room.
How Nigeria Broke MoMo
Happy Workers’ Day and Happy Interest Alert Day from our brand partner Credit Direct! If this newsletter was shared with you, subscribe for free: TOGETHER WITH CREDIT DIRECT When ideas fail or companies struggle, it’s very easy to say, “Ah, I called it, always knew that wouldn’t work!” Yet some of those sentiments may not have been accurate when the product or company launched.
Fighting disruption through rent-seeking
If you missed last week’s newsletters, catch up here and here. And if this newsletter was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT Get the Cash Flow Framework for Business Owners, co-written with Olagoke Balogun, the CEO of So Fresh. Our people say that when a man wakes up is his own morning, so good morning to me.
A few opinions on journalistic methods Original
*Today’s newsletter sat in my drafts for a month. This is as good a time as any to share it. If you missed Friday’s newsletter, catch up here. If this email was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT The least favourite shopping experience is not being able to afford the things you want. Credit Direct Checkout ensures this never happens. All you need is a 25% down payment.
Airtime Lending is Easy
If you missed last week’s Notadeepdive, catch up here and here. If this email was forwarded to you, subscribe here: TOGETHER WITH CREDIT DIRECT If you wake up to a cryptic text from your ex and your bank account is drained, what would you do? MTN Nigeria suspended Xtratime early this week; today, Airtel followed.
Customer accepted higher tariffs, telcos now need to suck it up
Happy Manchester City beat Chealsea day to all who celebrate. If you missed Friday’s newsletter, catch up here. If this newsletter was forwarded to you, subscribe for free: TOGETHER WITH CREDIT DIRECT The question business owners need to start asking is “How do I keep more of the money my business is making?” Credit Direct has partnered with Mr Olagoke Balogun to answer this question.
Make Microfinance Banks Great Again
If you missed Thursday’s newsletter, catch up here. If this newsletter was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT Credit Direct wishes you a reflective and meaningful Good Friday! Nigeria has over 800 insured microfinance banks, which, if it needs pointing out, is a lot of MFBs. So “Company X gets a microfinance bank licence” is usually the sort of story that matters a lot to Company X and not very much to the rest of us.
Lending Is Easy. Treasury Bills Are Easier.
If this newsletter was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT Nobody accidentally builds a great business. The best financial decisions are the ones that keep working long after you stop thinking about them. Credit Direct Business grows your funds at 15% p.a. consistently, without asking for your attention. You built the business. It should return the favour. One of the recurring ideas I share in Notadeepdive is that lending is easy. You get some funding.
What if Moniepoint’s Orda Acquisition Is Really About Lending?
I leaned into the public holiday for a much-deserved rest, and I’m back. If this email was forwarded to you, subscribe now for free: TOGETHER WITH CREDIT DIRECT The goal hasn’t changed. You just needed the right system. Target Yield gives your ambitions a number, a timeline, and 15% p.a. to close the gap. You set the pace. We do the compounding.
You have three months to subscribe
If you missed last week’s Notadeepdive, catch up here and here. And if this newsletter was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT So you’re a freelancer. The government has noticed. Creators, consultants, and independents - the new tax laws affect how you earn, how you file, and how much you keep. Also, with the March 31 closer than it feels, this is the conversation you need to be having right now.
Kill bill
If you missed Friday’s Notadeepdive, catch up here. If this newsletter was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT The tax reforms have been passed. How prepared are you? March 31 is the filing deadline for employed individuals. June 30 is the corporate deadline for business owners. Both are closer than they feel right now.
Canal+ Was Always Going to Kill Showmax
If you missed last week’s Notadeepdive, catch up here and here. If this newsletter was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT The tax reforms have been passed. How prepared are you? March 31 is the filing deadline for employed individuals. June 30 is the corporate deadline for business owners. Both are closer than they feel right now.
A ₦62.56 billion Impairment on MTN’s fintech subsidiaries
If you missed Friday’s Notadeepdive, catch up here. If this email was forwarded or shared with you, you can subscribe here for free so you never miss another edition: TOGETHER WITH CREDIT DIRECT Nobody builds generational wealth by accident. It always starts with a thoughtful decision, not about today, but tomorrow. Credit Direct Business grows your funds at 15% p.a., while you focus on building everything else. Build the foundation for generational wealth today.
The Margin Problem That Won’t Go Away
If you missed last week’s newsletters, catch up here and here. If this newsletter was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT Needs don’t send a calendar invite. They show up on a Thursday. Unannounced. Inconvenient. Expensive. Credit Direct Checkout makes sure your answer is always yes. with up to ₦1M in instant credit, so you complete the purchase now and stay in control of how you pay.
If you missed Friday’s Notadeepdive, catch up here. If this newsletter was forwarded to you, subscribe here for free: Notadeepdive is powered by two super supportive brand partners, Credit Direct and Busha. Make sure to check them out! TOGETHER WITH CREDIT DIRECT Generosity is great, but strategic generosity changes lives. Gift A Yield transforms your kind gesture into a compounding investment.
Layoffs have never sounded so sexy
If you missed last week’s newsletters, catch up here and here. If this newsletter was forwarded to you, subscribe here for free: Notadeepdive is powered by two super supportive brand partners, Credit Direct and Busha. Make sure to check them out! TOGETHER WITH CREDIT DIRECT Generosity is great, but strategic generosity changes lives. Gift A Yield transforms your kind gesture into a compounding investment.
Sexy Steel
If you missed Friday’s Notadeepdive, catch up here. Sunday’s newsletter is powered by Credit Direct and Busha. Manchester City just completed the double over Liverpool this season (you take what you can in a bad season). Happy Sunday to those who celebrate. If this newsletter was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT When your money has direction, it works harder for you. Clear goals turn intentions into action and help you stay focused on what truly matters.
No new rules. Just consequences.
If you missed last week’s newsletters, catch up here and here. If this newsletter was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT When your money has direction, it works harder for you. Clear goals turn intentions into action and help you stay focused on what truly matters. Start building toward what you want with a plan that rewards commitment andconsistency. Set your target, stay on track, and watch your goals move closer to reality.
What People Get Wrong About Nigeria’s Tech Media
Sunday’s Notadeepdive is brought to you by Credit Direct and Busha.If you missed Friday’s Notadeepdive, catch up here. If this email was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT When your money has direction, it works harder for you. Clear goals turn intentions into action and help you stay focused on what truly matters. Start building toward what you want with a plan that rewards commitment and consistency.
Business Loans Are Sexy
Friday’s Notadeepdive is brought to you by Credit Direct and Raenest. If you missed last week’s newsletters, catch up here and here. If this newsletter was forwarded to you, subscribe here for free TOGETHER WITH CREDIT DIRECT New year goals often come with important upgrades. You don’t have to postpone them. Sometimes the smartest move isn’t waiting, it’s choosing a payment option that fits your plans and your pace. When progress feels manageable, taking action becomes easier.
The Stack Theory
If you missed Friday’s Notadeepdive, catch up here. If this email was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT True inclusion is about showing up in the heart of the community, where daily life and commerce actually happen. Credit Direct took this mission to the streets, bringing both financial tools and healthcare directly to over 18 markets across Nigeria.
The cracked engineer arbitrage
If you missed last week’s newsletters, catch up here and here. If this newsletter was forwarded to you, subscribe so you don’t miss the next one: TOGETHER WITH CREDIT DIRECT The “Detty December” effect hit the FX market in two different ways. We saw a 0.77% gain in the NFEM, yet the parallel market weakened further to ₦1,479/$. Our research note analyzes the drivers behind this widening gap and the 1.87% bump in foreign reserves.
Who's holding the bag?
If you missed Friday’s newsletter, catch up here. And if this email was forwarded to you, subscribe here while it’s still free! TOGETHER WITH CREDIT DIRECT High-value connections deserve high-value gestures. “Gift a Yield” lets you share financial growth with colleagues, mentees, or partners, turning generosity into compounding potential. It’s thoughtful, strategic, and leaves an impact beyond the immediate moment.
FOMO and frothy exchanges
If you missed the midweek newsletter, catch up here. If this newsletter was forwarded to you, subscribe here for free: TOGETHER WITH CREDIT DIRECT Why hop between five different apps when you can do it all in one? From quick transfers to watching your interest grow, the Credit Direct App is built to fit into your day. Everything you need is right here. Some days are uneventful.
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