Can Africa Catch A Strangely Yet-Unloved Buy-Now-Pay-Later Fever?
1 month ago
When Martin Akwanga, 26, got bored of graphics design which he had done on a freelance basis for the past 3 years and decided to make a big switch to software development, he figured he needed a brand new PC. That’s because he wanted to be able to learn efficiently while also doing some design gigs on the side - up until when he doesn’t have to do make graphics stuff anymore.
His old, battered, and hand-me-down Dell Inspiron had clearly seen better days and Akwanga had identified a choice replacement: HP Pavilion 15. There was just one problem: it was going to cost him an arm and a leg.
At a market price of over NGN 300 K, Akwanga would have to shell out a lump sum that would erode most of the cash in his bank account to be able to buy the HP laptop, and that’s after years of painstakingly saving.
So, when a close friend hinted at a ‘less painful option which entailed taking possession of the device while paying for it in small instalments, it was bewildering that Akwanga refused the idea. He would later pretty much clean out his bank account to make the purchase. It’s not him, it’s culture. A culture that seems a bigger albatross than it gets attention for.