Nigeria’s SpacePointe in government tax collection deal

| Thursday 21st December, 2017


SpacePointe, which develops products geared towards small and medium enterprises (SMEs) with a particular focus on retailers, raised $1.2 million in funding in June 2016. The startup’s partnership with the Edo State Government allows for easier tax collections and gives the government real-time visibility on all the collections completed.

“Fraud had been a real issue with revenue collections and utilising our platform put all that money that was previously stolen back into the government purse. It was so successful that even the transport unions harmonised with the state to help them collect their union dues,” SpacePointe’s CEO Sayu Abend told Disrupt Africa.

SpacePointe now has a pipeline of other Nigerian states that will be onboarded onto the platform, and has so far processed over one million transactions.

“2018 is geared to increase that by a factor of 10 at minimum just from the agreements that are in place currently,” Abend said.

Culled from: Disrupt Africa