loan book growth by raising funding in the form of its Fixed Term investment product. He says: “RenMoney has some of the best risk-adjusted rates in Nigeria, accompanied by flexible terms designed specifically for each investor.” Its clients are both employed and self-employed individuals who are underserviced by commercial banks. “This means that we cater for a large spectrum of Nigerian society. Our products are developed to be accessible to the mass market, but with a quality of service and pricing that makes them attractive to higher middle class salary earners,” says Lee. To build RenMoney’s brand from nothing, and to get its message out to ordinary Nigerians, the company had to develop an integrated marketing strategy. Lee explains: “We developed a message and use traditional, digital and alternate media platforms to consistently get that message into the minds of
336
Number of jobs supported by RenMoney
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5