Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

Nigerians who talked more on phone are likely to be financially healthy – report

Onome Ohwovoriole by Onome Ohwovoriole
August 20, 2018
in Business News, Politics
Lagos business - nairametrics

Stephen Ambore, Head, Digital Financial Services, Central Bank of Nigeria Dr Olayinka David-West, Academic Director and Senior Fellow, Lagos Business School Niall Saville, Associate Partner, Dalberg At the Customer Segmentation Framework Report Launch & Art Exhibition organised by the LBS Sustainable and Digital Financial Services Initiative

Share on FacebookShare on TwitterShare on Linkedin

The Lagos Business School (LBS) Sustainable and Digital Financial Services Initiative in collaboration with Dalberg, a consulting firm recently released a Customer Segmentation Report on financial inclusion.

The report was gathered across several geo-political zones in the country over the second half of last year.

The six segments of the sample population for the report include:

Vulnerable Believers

Vulnerable believers are the lower middle-class to poor, religious, predominantly rural, with limited education. They use financial services infrequently and struggle to pay their bills. They have the lowest aspirations for the future, and are less open and consider themselves less dependable.

 Resilient Savers

Resilient savers are primarily men and are responsible for household financial decisions. They are frequent savers through family, friends, and groups. Savings are largely for emergencies. They are more impulsive than average.

Dependent Individualists 

Dependent Individualists are the lower middle class and mostly female. They have the lowest level of education among all segments. They are the least impulsive and rely on others to make financial decisions for them. They have a lower than average trust in both banks and social networks.

 Digital Youth

Digital youth are the wealthiest segment but have high-income volatility. They are young, well educated and frequent users of digital technology. They are most likely to perceive their community as unequal and believe they can trust their community but not rely on the community to invest in their business.

Confident Optimists

They are the middle to upper class, young, well educated and urban with high self-esteem and a positive view of the past and future. They are the largest users of mobile money and have a strong belief and trust in their community.

Skeptical Cultivators

Lower-middle class, rural, and older than average. They distrust banks and their broader community and are most likely to trust only those they’ve known long. They have the lowest self-esteem but high-self-confidence and sense of control. They struggle with planning but excel at savings.

Common characteristics across all segments  

The following characteristics were prevalent across the six segments:

  • 49% of the sample population had a bank account.
  • 8% of the population have a mobile money account.
  • 36% of the population made use of informal financial tools.
  • Nigerians who talked more on the phone were more likely to be financially healthy.
  • Those with tertiary education are more likely to have a mobile money account. 28% of those with tertiary education were more likely to use a mobile money account compared to the 4% of those without tertiary education.
  • Those in rural areas have a lower likelihood of borrowing compared to urban residents.
  • Spouses are more likely than others to save with groups and borrow from family.
  • Singles have a lower likelihood of borrowing from groups, and allocate more of a windfall to spending on pleasure, than married Nigerians.
  • A large majority of informal group members do not borrow through them. 43% of Nigerians who participate in Informal groups do not participate in them.

Dalberg Group was founded in 2001 by Henrik Skovby. The company provides advisory and research services.

The Lagos Business School was established in 1992 as the Centre for Professional Communications (CPC)

Related

Tags: DalbergLagos Business SchoolLBS financial inclusion report

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Hot forex
Cornerstone
Mega Millions
Polaris Bank
Eco Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Weekly Stock Update: Nigerian Exchange Group closes bearish, loses 0.14% w-o-w
    • A day in the life of a Lagos bus conductor
    • Meet Ochai Agbaji of Nigerian heritage picked in the 2022 NBA Draft to join Cleveland Cavaliers

    Follow us on social media:

    Recent News

    OPEC, NSE, MTN, other developments and how they affect your pocket

    Weekly Stock Update: Nigerian Exchange Group closes bearish, loses 0.14% w-o-w

    June 25, 2022
    “Ó Wà óóó!” —  What I learnt being a bus conductor for one day

    A day in the life of a Lagos bus conductor

    June 25, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com