Sydney Imuetinyan Aigbogun, the CEO of Cashbox; an Online saving platform, while shedding lights on the future of the company in terms of giving back to the society and helping younger entrepreneurs, he disclosed that plans are in earnest to that effect.
“We are going big on philanthropy. We have started doing that, but we will escalate it.”
Explaining further, he said: “What we are planning is not philanthropy the old way, that we are doing by our support for the Old Peoples Home in Yaba.
Going forward, we will build on what we have experimented this past one and a half years, which is helping small and medium enterprises (SMEs). As long as Cashbox is concerned Philanthropy is part of our passion.”
A lot of SMEs, he stressed, have gained leverage from Cashbox’s benevolence, which helped them to maintain stability.
On what informed Cashbox’s philanthropy towards SMEs, Aigbogun said: “The more SMEs we have that are doing well in the system, the more we are assured of a growing, stronger economic system. And, by and large, we are empowering people to become self-reliant.”
It would be recalled that Cashbox had capitalised on the disruption of Covid-19 in 2020 to help many Nigerians to imbibe the habit of saving for the rainy day.
According to Aigbogun: “Most of 2020 was spent in lockdown with more than 80 per cent of the global population locked in their homes for more than six months. Businesses globally had to work from home and there was a paradigm shift in how businesses operate.”
Continuing, he said: “At the time, Cashbox was in its first year, and we had to find a way to encourage people in lockdown to save money while they are at home. People did not dine out anymore.
No one was going to cinemas. Social events were cancelled. What that meant is that people weren’t spending money. So we started campaigns on social media encouraging people to start saving the money they would have ordinarily spent when the world was normal.”
Aigbogun avowed that the Cashbox lockdown campaign was hugely successful. “We opened the eyes of many users of our app to the merit of the saving habit. A lot of people believed in us and that drove our savings pool higher,” he said.