Meet Abeg: Monumental Brother Naija sponsor and app of the hour

by

It’s Season 6 of Monumental Brother Naija (BBN), and the theme is ‘Shine ya leer” – a theme that BBN’s tech sponsors like Patricia and Abeg are taking somewhat seriously.  

Monumental Brother Nigeria is Nigeria’s exhaust on the Dutch Truth TV inform, Monumental Brother, which bought its inspiration from George Orwell’s 1984 fresh. The book imagines a world where your every run is monitored by an all-seeing ‘Monumental Brother’ and that’s precisely what BBN is all about. 

Launched by Multichoice in 2007, the BBN inform has escape for 5 seasons, with its winners cashing out good sums of cash, and extra folks tuning in yearly.

Fun fact: There are over 20 million subscribers on the Multichoice platform

That’s heaps of eyeballs and doable customers glued to screens all over Africa and even in the UK. Attain you gape why sponsors are falling over themselves to headline this inform? 

The final Monumental Brother Naija version seen firms like KudaBank, Flutterwave and Patricia throwing their weight in the inspire of the inform—and profiting. As an illustration, shortly after the discontinuance of the season, Flutterwave launched that it had raised its Series B funding and processed extra than 140 million transactions price over $9 billion.

Successfully, this one year’s fortunate headline sponsor is a wildcard and a relative newcomer to the tech ecosystem. We’ll come up with three clues: Paytech, giveaway, and Nigerian slang.

Ample, okay, we’ll expose you who they’re. The name is Abeg.

No, we aren’t pulling your leg. It’s Abeg.

Abeg! What’s Abeg?

Abeg is a secret agent-to-secret agent (P2P) social payments platform that enables you to send or request money from one other Abeg user without having to enter any bank miniature print. All you’d like is their Abeg label to send them money and request funds from them.

Characterize: Abeg

The app used to be basically based by three younger males, Muheez Akanni, Michael Okoh, and Dare Adekoya, and is simplest accessible to Nigerians, for now. Funding an Abeg wallet requires a Monetary institution Verification Number (BVN) and a local mobile phone quantity linked to your memoir.

Though Abeg is comparable to Cashapp, its founders hope it’ll smash boring principles surrounding present fintech startups and commerce how traditional folks deem price technology.

Abeg makes gifting money and splitting bills between company more uncomplicated. Purchased a frighteningly good bar tab after that TGIF social gathering? You should presumably make contributions to the invoice by Abeg-ging it.

You should presumably furthermore select airtime, pay bills, and hyperlink your social media accounts to search out Abeg customers on Twitter or Instagram.

Assorted unparalleled parts you’ll be able to find on the Abeg app consist of a Giveaway option, Ajo (a team saving instrument), Cliques (for your invoice splitting) and loans. The final three are mild in the pipeline although.

Why can like to I care?

Sending money by potential of Abeg gained’t tag you a aesthetic kobo. You should presumably send hundreds of naira to Abeg tags (usernames) without cost nonetheless withdrawals to bank accounts will appeal to a miniature price of ₦10. 

This transaction price is more reasonably priced when when when in contrast with P2P price alternatives like Wallets Africa which tag ₦ 23 for successful transfers above ₦5000, amongst other costs.  

Alternatively, Barter (a Flutterwave price option) doesn’t tag any costs for transfers to other Barter customers. However, it prices you for withdrawals although, dazzling like Abeg.

Abeg furthermore provides referral bonuses to customers who invite their company to make an Abeg memoir. If your mates accept the app by procedure of your invite code, and you start the predominant transfer, you gain a ₦500 bonus for your troubles.

How keep I join?

You should presumably log into the Abeg app with these easy steps:

  1. Install the app from your Google Play Retailer or the Apple Retailer.
  2. Faucet “Make an memoir.”
  3. Entire the designate-up process by entering your name, mobile phone quantity, electronic mail take care of, and password.
  4. They’d send a One-Time Passcode (OTP) to your line for verification.
  5. Whenever you’re in, you’d need to present your BVN. Here’s how they hyperlink your bank memoir to the app, so that you just might maybe well presumably fund your wallet.
  6. You’d furthermore need to make a transfer label that you just might maybe well presumably half.
  7. You should presumably hyperlink your social media accounts to your Abeg app to explore mutual Abeg customers.

What are folks asserting about Abeg?

Might well like to you enter the words “abeg app” on the Twitter search tab, you will gape dozens of tweets about the app– extra so since their BBN sponsorship announcement went live a pair of months prior to now.

One in every of basically the most iconic Abeg tweets is this one from 2018, long sooner than the app used to be launched. The tweet requested for a Cashapp reproduction, nonetheless with a Nigerian flavour. The tweet even urged calling the Cashapp clone, $Abeg.

(embed Osaretin’s tweet)

Accident? I judge not. The folks known as, and the tech universe answered with a nifty app for you money gifting wants.

Overall, folks don’t like anything else nonetheless reward for the app. It’s been described as funny, impressive, and the finest app on the planet.

@abeg_app understood the ‘social payments’ assignment and surpassed it. hope venmo is taking notes 😅

— abrema-hime (@abremaquarm) July 25, 2021

Celebrities aren’t unnoticed in the Abeg frenzy too. Don Jazzy, favorite Mavin Data boss, has given away tons of cash with the to hand giveaway neutral on the app.

Ample I admire this. Testing testing successful. 😃 @abeg_app

— AYRA STARR IS 19 & DANGEROUS (@DONJAZZY) July 26, 2021

Ample let’s half 1 million. Now Doing ₦10,000 every for 100 fortunate winners by procedure of the Abeg app. Inch to my profile on Abeg app @donjazzy to participate now. 🤑

— AYRA STARR IS 19 & DANGEROUS (@DONJAZZY) July 26, 2021

The Abeg giveaways look like basically the hottest instrument in the app with many participants organising wide giveaways and plenty of extra cashing out.

Of us Don money out aggressive salary for @abeg_app in lower than 24hrs.

I’m folks, folks is me.

— Make President (@akintheodox) July 25, 2021

Nonetheless it’s not all roses although. Sprinkled amongst the entire posts gushing about the app are tweets about verification complications. 

There are furthermore concerns that the app will be a one-trick pony, and might maybe well presumably simply not retain its momentum after the BBN inform.

Abeg App has no technique asides promote on Monumental Brother Naija. With the exception of they draw up with one, they effort having tons of downloads nonetheless very low utilization and total abandonment by customers in the future.

— Royalty (@royaltyuso) July 28, 2021

What’s the mountainous ‘nonetheless’ although?

Successfully, asides from the free giveaway, airtime recharge and simple P2P transfer parts, Abeg doesn’t like mighty going for it now. Unlike the opposite price alternatives talked about above, Abeg’s utilize case is tiny. You should presumably’t make digital buck playing cards like Barter and Wallets Africa on Abeg. Neither are you able to send money in a foreign country and even to other African worldwide locations. Even the invoice price perspective simplest works if the industry has downloaded the app and recognises payments made by procedure of it.

For now, the app connotes one ingredient— giveaways. And loads desires to be done for it to escape of that box.

However, it’s mild early days for the younger app, and there’s room to enhance. Already, the app has over 10k downloads on the Google Play Retailer, and these numbers might maybe well presumably simply form bigger after this Monumental Brother Nigeria season. Hopefully, sooner than the inform ends, the Abeg team would’ve added upgrades to the app and prolong its companies and products to consist of doable ‘Abeg-gers’ in other African worldwide locations.

Glean the exact African tech newsletters for your inbox