moneybox africa pp

[andico26]

moneybox africa, an e-solutions network for mobile phone transactions have commenced their private placement at N2.50 per share . Min 100,000 units. Parteners include Paybox Solutions,Interswitch, E-Tranzact, Mastercard and Nextron. Financial Instituition behind offer is Intergrated Capital Services Limited

[yusuff]

thanks for the post.what is par value?

[solainvest]

Originally Posted by andico26

moneybox africa, an e-solutions network for mobile phone transactions have commenced their private placement at N2.50 per share . Min 100,000 units. Parteners include Paybox Solutions,Interswitch, E-Tranzact, Mastercard and Nextron. Financial Instituition behind offer is Intergrated Capital Services Limited

Is it possible you post their memorandum/PP document?

This company does not have functional website and they are an e-solutions company.

I will reserve my final comments until I see the PP document.:

[andico26]

dont have the docs yet but will get it. I guess it is a start up. A venture between Paybox solutions, the german e- solutions network and one of the largest in the world and money box africa. I guess they are trying to do it a hush hush thing considering the volume of shares on issue of about 500m from what I was told. Dont know when they are going to list. Still waiting for Integrated

[AbsoluT]

i understand it may be up to 3 years before they list

[solainvest]

Guardian Newspapers

MONEYBOX Africa has introduced an innovative saving and payment system using scratch card and mobile phones to facilitate mobile banking in Lagos recently.

Speaking at a news briefing, the Chief Executive Officer, Mr. Adeniyi Elumaro explained that through the initiative, the company hoped to convert mobile phones to instant tools that would enable infinite possibilities in mobile commerce.

According to him, the product provides key services beyond basic banking functionality such as bill payment, airtime top-up and international remittances with appropriate user-interface technologies.

Elumaro added that the technological framework provided basic mobile payment services with minimal sign up barrier, creating more entrepreneurs, while accepting low margins and supporting remote and proximate scenarios.

He said that the product also had the capacity to catapult mobile commerce penetration in Nigeria to levels achieved in the Philippines and Austria, which were the world's leading mobile commerce economies. And with capability of offering end users easy upgrade path to a stored value account and eventually to a bank account.

The MoneyBox boss added that customers would be able to locally open their accounts on streets. They will also be able to remotely save into their accounts, pay utility bills, insurance premiums, withdraw cash at agents' locations or ATM machines, get access to credit and make investments.

If Nigeria must achieve the Millennium Development Goals and indeed be one of the 20 leading economies by the year 2020, there must be unbridled access to basic financial services in banking, insurance stock broking among others.

The Chief Executive Officer, Paybox Solutions, Germany Mr. Eckhard Ortwein, spoke on the development that the product was not only for Nigerians resident but incorporated those in the Diaspora.

Describing Nigeria and Africa at large as an emerging market, he noted that the system had a payment-enabling infrastructure encompassing processes like reconciliation, customer care marketing and technical framework.

[blanka]

What struck me about this money box pp is the involvement of Niyi Elumaro(CEO money box)....This guy is also the CEO of CITILINK MARINE whose pp is also on i guess...This Niyi must be bursting with loads of creative energy...Remember, CITILINK is also a start-up!

[BLUEMONEY]

Originally Posted by blanka

What struck me about this money box pp is the involvement of Niyi Elumaro(CEO money box)....This guy is also the CEO of CITILINK MARINE whose pp is also on i guess...This Niyi must be bursting with loads of creative energy...Remember, CITILINK is also a start-up!

i must warn the house about buying the PP of these start-up companies. there is a new listing requirement that every company seeking quotation on the exchange must have paid dividend to its shareholders for five years.
probably that is why this company is not thinking of listing soon.

[Babs_O]

Originally Posted by BLUEMONEY

i must warn the house about buying the PP of these start-up companies. there is a new listing requirement that every company seeking quotation on the exchange must have paid dividend to its shareholders for five years.
probably that is why this company is not thinking of listing soon.

The listing requirement highlighted in bold is a welcome development. If it is enforced it means a lot of companies will not be able to list again and investors will be protected from doggy companies.

[BLUEMONEY]

Originally Posted by Babs_O

The listing requirement highlighted in bold is a welcome development. If it is enforced it means a lot of companies will not be able to list again and investors will be protected from doggy companies.

Exactly, i was told by a market operator that since the regulatory authorities cannot stop these companies from doing PP, this is one of thier ways of discouraging it.
we all should be aware of this and make sure the PP of these doggy companies is undersubcribed instead of tying down money.

[wanaj0]

This dividend rule makes no sense!!!!!!!! Why shoud that be a listing requirement?

ANy way, MTN just started paying dividends last year.

Most start-up companies don't pay dividend because they need all the cash for growth!

[en_y]

I think SEC and NSE need to do a lot more brainstorming to find out ways of protecting investors. A company can exist for well over 5 years and increase year on year profits massively and still dont pay dividends so they plough back the money for further growth. There is nothing wrong with it as long the shareholders are happy with it.

Are they now saying the kind of company will not meet the new listing requirement rules. I wonder where they were when transcorp did a private placement and then IPO.. Oh I just remebered, most rules were waived 'cos it was transcorp.

[Distinction]

Hello all,

I just obtained some info that includes some financial projections. Please let's look into it and start some analysis.

D.

[solainvest]

Originally Posted by Distinction

Hello all,

I just obtained some info that includes some financial projections. Please let's look into it and start some analysis.

D.

Thanks for the information provided.

I have had a good glance at the document and it is unfortunate that they didn't list the management and their profile. I hope we will find a document soon that will have this.

In my training, character is key. I will have to access the character and profile of the people behind the business because it is more like a start up.

I also don't have expert knowledge but it is an untested business model and so could succeed or fail.

I watched a documentary on the Congo republic economy and saw that this worked. It was very much in use there. Theirs is an economy where the financial infrastructure is weak due to years of war.

I am sure there is a market for this but I want to see the profile of those behind it.

[zainabusman]

Originally Posted by solainvest

Thanks for the information provided.

I have had a good glance at the document and it is unfortunate that they didn't list the management and their profile. I hope we will find a document soon that will have this.

In my training, character is key. I will have to access the character and profile of the people behind the business because it is more like a start up.

I also don't have expert knowledge but it is an untested business model and so could succeed or fail.

I watched a documentary on the Congo republic economy and saw that this worked. It was very much in use there. Theirs is an economy where the financial infrastructure is weak due to years of war.

I am sure there is a market for this but I want to see the profile of those behind it.

It will be tough to sell this product in Nigeria.

[juliusdudu]

Originally Posted by zainabusman

It will be tough to sell this product in Nigeria.

Will be really tough indeed but they can still make an headway. A starter company, I am off

[Zito]

What a gamble with one's hard earned money? I wonder if it worths trying!!!