Shaun DuncanTCM Group International

Credit Matters VI – The Deep Dive

Global CollectionsNigeria

Global Collections : Nigeria

Population : 1.12 Billion.

Is the world's 2nd largest and 2nd most populous continent.

Land size = +- 30.2 million km², including adjacent islands.

covers 6% of Earth’s total surface area and 20.4 % of its total land area.

36 States – Lagos economic hub.

Land size = +- 923 768 km² or 3% of Africa’s land size.

Population : 192 million

Unemployment : 14.2% - over 500 ethnic groups

Nigeria

Global Collections : Nigeria

Economic crime Pipeline vandalism, illegal oil bunkering, tax evasion etc

Financial crime Illegal use of cheques, drafts, money orders etc

419-Advanced fee fraud Scam through false pretences to get upfront payments – business/romance etc

Money laundering Ill-gotten wealth transferred to appear legitimate

Terrorism Violence to gain goals – Boko Haram etc

Cyber crime Computer / electronic device perpetrated crime

Rape Affects the ambivalence, moral decadence, ethical behaviour of a nation

Police brutality & hostility Need of leadership to retain control of country assets

Bribery & corruption Wide spread problem in Nigeria

Highway robbery Land and sea robbery

CrimeWhile Nigeria is one of the fastest growing economies in Africa, and seen as a haven for new business on the continent, it is also home to some very unique criminal activity

Major ChallengesPolitical challenges

– Corrupt leadership = bad governance

– Poverty

Corruption

- Global problem, but Nigeria suffers as most leaders have succumbed to huge

oil revenues

Macro economic challenges

- Series of ineffective & poorly implemented policies

- Lack of genuine competition

- Poor quality of human development and economic health of nation

Local Customs and Collection TipsGenerally business relationships

– Bargaining and haggling important part of business negotiations - Poor transport network – warehouse to consumer challenges

No quick decisions– Meeting take a lot of time - like to feel comfortable before making decisions

Capitalisation of companies

– New companies undercapitalised

- Limited access to funding from banks - high interest rates and bureaucracy

- Business environment lacks basic amenities and infrastructure to aid development

Any questions?

Shaun Duncan

TCM Group International +27 (0) 87 825 1717

ceo@tcmgroup.com

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