We are advising Prosperis Holding in connection with the establishment of an online thrifting platform in Nigeria. In this regard, we prepared a transaction structuring memo, advising on regulatory and compliance issues such as incorporation, licensing and tax.

This particular transaction is novel in the FinTech space as the project is aimed at disrupting the traditional means of saving in Africa (ajo saving scheme, esusu saving schemes). Also, as an unchartered terrain with no defined regulations, we have had to interface with the regulators in order to ensure adequate compliance while also assisting regulators to develop regulations and policy statements in the sector.