Why Moniepoint Sponsored Big Brother Naija All Stars

The Money Culture

“Big companies dominate by spending more on brand and product awareness”

I know you might be wondering why small tech companies are spending millions of dollars on sponsorship of global shows like Big Brother Naija reality show. This is because they are playing for global audience, global attention, and both brand and product awareness. Moniepoint, a fintech company is the headline sponsor of BBNaija All Stars and as rumored must have coughed out a whooping sum of $5m dollars for this year’s Big brother reality show.

I called this “Spend Culture” in my new book Compete or Dominate. It is a segment of a business’s organizational culture, consisting of shared beliefs, values, and practices that inform how, why, and when spending money within an organization. Every successful entrepreneur today is aware of the right amount of money to put away to fund their goals and aspirations. Saving without a plan on what to do with the money leaves people broke in today’s economic landscape. Money only becomes valuable when it has been used. In all of this, it takes discipline and financial intelligence to save and invest your way to marketplace dominance. This is what I have termed “Money Culture”.

Every decision a brand or organisation makes all rests on money, investments or savings. The bigger the amount of money a brand or company has, the better the decisions they are bound to make in the long run. Tesla and Apple are set to become the biggest and most viable tech companies in the world in the coming years according to financial experts.   

Money influences growth

The velocity of a brand’s growth is affected by its ability and money culture. To grow your brand, you must increase your financial input in your brand and business. This statement can be explained by several brands that have been aligned with sponsorship for Big Brother Naija reality show like Payporte Bet9ja, Patricia, Pocket by PiggyVest. In a recent interview with Business Day Newspapers, PiggVest Co-founder Odunayo Eweniyi explained why fintech brands are spending big funds on Big Brother Naija Reality Show sponsorship. Asides Payporte, Patricia and Pocket, other fintech companies have previously co-sponsored the show, including flutterwave and Kuda, however, these brands have no problem signing multi-billion dollar sponsorship deals on big shows like BBN, this is because there are numerous benefits to be gained by being a major sponsor of the show, which go beyond mere brand advertising. 

The awareness didn’t only boost Abeg but also the PiggyVest platform which paid out over N242 billion to over 3.5 million customers in 2021, said Somto Ifuezue, CEO and co-founder of PiggyVest.

This explains the statement that it takes more money to make alot of money in the competitive market. The big brands are spending more to take the key lead in their industry inorder to win more customers and break into the global market. 

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The Big Question is – Will this sponsorship give Moniepoint its return on Investment like other fintech brands like PiggyVest and Patricia?