NEW YORK, September 20, 2021 (GLOBE NEWSWIRE) – Logiq, Inc. (NEO: LGIQ) (OTCQX: LGIQ), a global provider of award-winning e-commerce and financial technology solutions, has entered into a preliminary agreement with Introserve Novaji, a value-added IT and financial services company based in Lagos, to provide home delivery and mobile financial services to millions of unbanked and underbanked people in Nigeria.
As a provider of government-licensed value-added services and financial technologies, Novaji would deploy the GoLogiq and PayLogiq platforms to offer home delivery services, mobile digital wallet and point of sale, micro-loans and other mobile fintech products and services.
As part of the first phase of the engagement, Logiq is working with Novaji’s sales and technology teams to determine product and feature offerings, as well as the integrations and configuration needed to support a deployment at scale. national. A pilot program is slated for launch before the end of the year, which would pave the way for full deployment in 2022.
As part of the National Financial Inclusion Strategy Program of the Central Bank of Nigeria, the country has set itself the goal of ensuring 80% of Nigeria’s adult population has access to financial services by the end of the year. However, a majority of Nigerian adults still fall into the underbanked or unbanked categories of people and remain largely excluded from the country’s financial system.
On 56 million or 56% of Nigerian adults have not been banked, while according to a recent investigation, 81 percent now own a mobile phone. This presents mobile financial services as the ideal route to bring more of the population into the national financial system.
âJoining forces with Novaji marks our first foray into emerging markets outside of Indonesia,â said Logiq President Brent Suen. âNigeria, with a population of 212 million, is one of the most populous countries in the world, yet most people do not have a bank account. This creates a major opportunity for our mobile and fintech commerce platforms which have been specially designed for emerging markets. These field-proven solutions can provide much needed financial services to tens of millions of people in the region. “
Logiq’s digital wallet technology enables many types of financial transactions to be carried out easily and securely, including money transfers, buy now, pay later options, receive and repay loans, access insurance , buy airtime and data, and pay bills or merchants, all conveniently on a mobile phone, anytime, anywhere.
About Novaji Introserve
Novaji Introserve is a licensed value-added services (VAS) and FinTech (FINTECH) service provider. The company specializes in mobile financial services, digital content monetization, business and financial solutions powered by a passionate team and cutting edge technology.
Its service offerings include Shortcode and USSD, Caller Tunes, Digital Media, ERP Solutions and other FINTECH solutions. For more information visit novajii.com.
Logiq, Inc. is a leading global provider of fintech e-commerce and business support solutions based in the United States. Its DataLogiq business provides an end-to-end data-driven e-commerce marketing solution. Its AI-powered LogiqX â¢ data engine delivers valuable consumer insights that improve ROI on online marketing spend. The company’s Fixel technology offers streamlined online marketing with essential privacy features.
In its AppLogiq business, Logiq’s platform as a service, under the CreateApp â¢ brand, enables small and medium businesses around the world to easily build and deploy a native mobile app for their business without technical knowledge or knowledge. CreateApp â¢ enables businesses to reach more customers, increase sales, manage logistics, and promote their products and services in a simple, affordable and highly effective way. CreateApp â¢ is offered in 14 languages ââin 10 countries and three continents, including some of the fastest growing emerging markets in Southeast Asia. The company’s PayLogiq, under the AtozPay â¢ brand in Indonesia, offers mobile payments, and GoLogiq, under the AtozGo â¢ brand in Indonesia, provides hyper-local food delivery services. Connect with Logiq: Website | LinkedIn | Twitter| Facebook.
Important Cautions Regarding Forward-Looking Statements
This press release contains certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by these articles. This press release also contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws that relate to Logiq’s current expectations and opinions about future events. All statements that express or involve discussions regarding expectations, beliefs, plans, goals, assumptions or future events or performance (often, but not always, through the use of words or phrases such as ” will probably result “,” are expected at “,” expects “,” will continue “,” is anticipated “,” anticipates “,” estimates “,” estimated “,” intends “,” plans “, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties that could cause actual results differ materially from those expressed in these forward-looking statements. No assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this press release should not be improperly relied upon.
These statements speak only as of the date of this press release. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Logiq’s control, which could result in a material difference between actual results and events and those disclosed or implied by these forward-looking statements. In particular and without limitation, this press release contains forward-looking statements regarding our products and services, the continued use and / or demand for our products and services, expectations regarding our revenue and the revenue-generating potential of our products. and services, our strategic partnerships and alliances, the impact of global pandemics (including COVID-19) on demand for our products and services, industry trends, overall market growth rates, our growth strategies , the continued growth of addressable markets for our products and solutions, our business plans and strategies, our competitive position in our industry and other risks described in the Company’s previous press releases and in its filings with the Securities and Exchange Commission (SEC), including its annual report on Form 10-K and any subsequent public filings, and filings made ued under Canadian securities legislation which are available at www.sedar.com, including under the heading âActors Riskâ in the Company’s Canadian prospectus.
Logiq assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. New factors emerge from time to time, and it is not possible for Logiq to predict all of them, or to assess the impact of each of these factors or the extent to which a factor, or a combination of factors, may. lead to results materially different from those contained in any forward-looking statement. All forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement.
Brent Suen, President
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