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$3Bn Start-up Flutterwave Is Still Facing Severe Restrictions In Kenya. Peter Obi Gives His Views On The Economy

The Oasis Reporters

September 4, 2022




Leading Fintech companies in Nigeria that are making waves.






Here are the views of Labour Party presidential candidate, Peter Obi who is currently on a tour of Europe and the Americas and meeting primarily Nigerians in the diaspora to fashion the way out for a workable country that everyone would be proud to call home.

“Flutterwave, on its own, was recently valued at US$3 billion. We will create an enabling environment for our startups to thrive. Beyond creating access to easy funding.

We will enforce the legal framework protecting foreign investors and their indigenous partners. This is the only way to improve our business environment and tamper capital flight.

We will stop borrowing for consumption. All loans must be invested in regenerative projects. Inflation is a factor of spending on goods and services outstripping production. Since we have not resolved the minimum wage issue, we will not use wage and price controls to fight inflation.

Rather, we will pursue a contractionary monetary policy. We will mop up excess liquidity by reducing the money supply within an economy.

The truth is that for long market forces have not determined the exchange rate of the Naira. The two tier foreign exchange regime is a fluke. It has to end. Let the exchange rate be determined by the forces of demand and supply. It is that simple.

Government must continue to collaborate with the organized private sector in this regard. Creating the enabling environment for raising employment must start with expanding the SMEs cluster via unfettered access to funding”.

Greg Abolo

Blogger at The Oasis Reporters.

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