July 24, (THEWILL) – Flutterwave, a leading Fintech Company in Nigeria is making frantic efforts to redeem its image by sponsoring the biggest and the most viewed reality show in Nigeria, Big Brother Naija Season 7.
This is not the first time that the company will sponsor the show as an associate sponsor. In 2020, the company teamed up with the organiser of the reality show to organize tasks and cash-winning events on the reality show. They had the most popular game contest, which catapulted its reputation and income most especially as the country was just recovering from the COVID-19 pandemic. It engaged in an institutional advertising plan for their brand and the company was able to make over 140 million transactions worth over $9 billion, compared to the $5.4 billion transaction that it used to make before sponsoring part of the reality show.
The company is engaging the same strategy this year to further boost its reputation and raise funds while battling a series of controversies. The Chief Executive Officer and Co-founder, Olugbenga Agboola was accused of engaging in dubious business and personal practices. He gave himself more shares in the company’s early days and offered share prices below the company’s valuation to employees who wanted to cash in on his plan, he also ensured that the employees’ stock trade went to an investment he controlled.
A former employee, Clara Wanjiku Odero also accused him of bullying and the company of negligence which led to fraud. The company was also accused of involvement in money laundering in Kenya leading to the freezing of its account in Kenya, amidst other crisis. With its partnership with Big Brother Naija, Flutterwave is hoping to raise its dwindling fortune and reputation with this new partnership.
