29 Investment Capital is a private consumer finance firm in Nigeria that provides short-term loans and other financial services. It seeks to help revolutionize and grow the Nigerian consumer lending industry by providing affordable credit to individuals and businesses that may be disadvantaged by traditional finance firms. The company utilizes a profitable business model with compact operations, broad product offerings, outsourcing costs through partnerships, and effective technology to offer lower rates to borrowers and attractive returns to investors.

1. BUSINESS PROSPECTUS
29 Investment Capital Limited
“the creation of a thousand forests is in one acorn”
Ralph Waldo Emerson

2. 29 Investment Capital Limited is a private consumer finance firm incorporated in Nigeria. It began operations in 2012 with the man-
date to provide short-term loans to salaried employees and viable small and medium scale businesses. The company seeks to help
revolutionize and to grow the Nigerian consumer lending industry. 29 Investment Capital upholds the goal of providing affordable
credit to individuals and entities with viable cash-flow who are disadvantaged by traditional finance firm's draconian demands or fa-
vouritism.
At 29 Investment Capital Limited we believe that for enterprising and aspiring population like ours credit should be accessible and af-
fordable to all and not an exclusive reserve of a privilege few. Our business model is offering affordable credit that avail our firm the
offer of reliable financial returns to our investors while providing valuable services to our borrowers. "We believe in doing well by do-
ing good."
With a combined total of over 15 years of experience in the consumer finance industry, 29 Investment Capital's management team has
got a lot to leverage upon in sustaining the firm's profitability and gearing the firm for more robust development. The management
EXECUTIVE SUMMARY1

3. EXECUTIVE SUMMARY
track record is a proof attesting to their skills and
competence in guiding the firm for further expan-
sion.
The Nigerian credit and finance market beams with
huge potentials while relatively on untapped with an
annualized growth rate of over 35 percent. Current
market estimate is below $10 billion with a project-
ed potential of over $1trillion within the next dec-
ade. Nigeria has a big middle class, an estimated 40
million people with rising demand for consumer
goods. Reports put current consumer goods expendi-
ture at $400 billion. An amount largely financed by
cash transactions because of limited access to credit.
Over 70 percent of this populace lack access to capi-
tal.
To 29 Investment Capital the target market of this de-
mography are individuals and businesses possessing
formidable cash flow who are not eligible to secure
funding from traditional financial institutions. 29 In-
vestment Capital has created a strong lending rela-
tionship in this respect with salary earners and profit-
able businesses and also plans to prompt her reputa-
tion within this market. Similarly, 29 Investment Capi-
tal is targeting the saving populace with risk effective
initiatives yielding appreciable returns.
29 Investment Capital embodies a profitable business
model with four major components: compact business
operations, market penetration with broad product
offerings, externalization of costs by partnering with
third parties, and the deployment of effective technol-
ogy. This help lower cost while delivering an excep-
tional experience. 29 Investment Capital is able to
pass these cost savings to borrowers in the form of
lower rates and investors in the form of attractive re-
turns. Also, 29 Investment Capital accrued competitive
advantage and profitability with her affordable and
competitive lending rate of 5-30 percent APR.
29 Investment Capital's marketing and sales strategy
has been extremely successful, yet extremely cheap.
As word of mouth has been our biggest source of
sales, marketing activities have been focused on
keeping clients happy and recognizing their accom-
plishments. The social structure and business culture
that has made this approach a success began with our
pre-existing social network and philosophy to doing
business.
2
“
29 Investment Capital
embodies a profitable
business model with four
major components: compact
business operations, market
penetration with broad
product offerings,
externalization of costs by
partnering with third parties,
and the deployment of
effective technology.
“

4. EXECUTIVE SUMMARY3
FY 2014 FY 2013
% Growth NGN (‘000) NGN (‘000)
Operating Income 73.6% 48,247 27,790
Net Operating Income 76.7% 41,069 23,236
PBT 153.0% 14,134 5,586
PAT 146.3% 10,318 4,190
Retained Earning 194.0% 15,636 5,318
As at the end of 2014 fiscal year, 29 Investment Capital total asset stands over NGN
71 million with an outstanding loan portfolio of NGN50 million. We have grown re-
serves by almost 200 per cent in our 3 years of existence. We keep a well-balanced
and fairly diversified portfolio with zero default rate while continually raising the per-
centage of performing loans significantly. Our currently financial standing is present-
ed here below.
29 Investment Capital seeks to expand its current successful model. The funding con-
sequently secured will be used to leverage debt in order to expand the loan portfolio.
29 Investment Capital is raising NGN 200 million in a second round of funding to
grow and expand business; both the total number of customers it serves and the
products we have on offer. The company has planned an aggressive, but realistic,
expansion strategy. The management of 29 Investment Capital target a ten-fold in-
crease in our loan portfolio in the next five years while compounding return at over
50 percent annually.

5. TABLE OF CONTENT 4
1-3
5-6
7
8
9
11-14
15-16
17-18
19
20-21
23-24
25-26
27-29
EXECUTIVE SUMMARY
COMPANY PROFILE
OUR MISSION
OUR VISION
PRODUCTS
OUR CORE VALUES
MARKET ANALYSIS
THE COMPETITION
OPERATION MODEL
MANAGEMENT
MARKETING AND SALES STRATEGY
FINANCIAL PROJECTIONS
FUNDING REQUIREMENTS

6. COMPANY PROFILE5
29 Investment Capital Limited is a regis-
tered money lending firm in Nigeria. The
company was founded as consumer fi-
nance firm with speciality in providing
short-term credit to professional salary
earners and entrepreneurs of viable small
and medium scale businesses. 29 Invest-
ment Capital began lending operations in
2012 from her registered office at 256B
Ikorodu Crescent, Dolphin Estate, Lagos
with an issued capital of one million naira
(NGN1,000,000). We have grown from our
initial dual product offering to affording
our growing and demanding customers a
wide array of bespoke credit solutions to
their evolving needs. A few of these solu-
tions include personal loan, business loan,
association/group loan, commodity loan,
invoice discounting, target savings, fixed
investment deposit among others.
29 Investment Capital was founded by
Wole Aworonke; a distinguished financial
professional and Peju Adeyanju; an accom-
plished strategist and entrepreneur as a
payday loan lender. This initiative informed
the founders' decision in adopting "29" as
the company name. 29th day of the month
is the universally accepted payday for sala-
ry earners. The founders shared a common
interest in assisting deprived salary earners
and poor business owners overcome barri-
ers to acquiring credit and/or working cap-
ital. The two founders began operations
with their network of acquaintances and
NGN10 million in personal start-up capital.
Our entire loan portfolio has been financed
by debt from individuals and commercial
institutions. Over our short history, 29 In-
vestment Capital has grown to incorporate
more product ranges including investment,
advisory, loan recovery services among
others.
29 Investment Capital objective is providing
credit solutions to the growing Nigerian
middle class consumer segment by facilitat-
ing the consummation of their aspirations
in an easy, fast, cost effective and mutually
beneficial way. The section of this middle
class consumers that we currently serve are
the ones with assured and predetermined
cash flow. We afford them unsecured and
risk effective loans to this target market.
We strongly believe that our aim of provid-
ing broad access to consumer credit will
support in the initiative to move the nation
from a cash to a transaction-based society.
It will also enhance a frictionless, transpar-
ent and highly efficient marketplace while
helping people achieve their financial goals
every day.
We are glad to be an emerging credit
“We are glad to be an
emerging credit house in a
largely untapped market
with overwhelming
potentials. “

7. COMPANY PROFILE 6
house in a largely untapped market with
overwhelming potentials. Nigerian consum-
er finance industry, outside of register tra-
ditional banks, is still relative informal and
filled with unorganized players. A market
encumbered by consumer low awareness
of alternative credit sources, difficulty to
access loan from traditional players and
with an expected market growth rate of 35
percent. The Nigeria consumer credit mar-
ket is still at infancy with $7.29 billion turn-
over against Egypt’s $19.11 billion and
South Africa's $293.29 billion as at 2012,
whose combined population just equals Ni-
geria's total population.
In our short history, our extensively experi-
enced management has been able to grow
equity by 35 percent, Net interest income by
74 percent, PAT by 146 percent while almost
doubling retained earnings. Our loan and
advances portfolio which has grown over 53
percent stays quite healthy. Our performing
loan stands at 64 percent with credit class A
loans at 34 percent and credit class B (Pass
and watch) at 30 percent of the total out-
standing debt. We have maintained a zero
percent on default loans while keeping
doubtful loans at 36 percent. 29 Investment
Capital current loan portfolio is valued at just
over fifty million naira (NGN 50 million).
“
In our short history, our
extensively experienced
management has been able
to grow equity by 35
percent, Net interest income
by 74 percent, PAT by 146
percent while almost
doubling retained earnings.
“

8. OUR VISION7
To be the Nigerian Consumers' Lender of First Resort; a customer-centric brand powered by services, solutions and synergies.
The highlights of our vision is five dimensions namely;
We believe this is a herculean task considering the rising competition and emerging focus on this industry by international credit
firms. Nevertheless, a critical goal in our development is being the first choice of the intending borrower. We want to be the ide-
al lender envisioned by the majority of the consumer populace.
Putting the need of the consumer (borrower) first is fundamental to our practices and pro-
cesses. Without the borrower there would not be a market. Our intention is treating each
customer as an individual and as the ultimate customer not matter the size of their require-
ments. We believe a firm truly true to her customers achieves greater patronage, profitabil-
ity and perpetuity.
Our focus on these 3S is quite interwoven. Our attitude towards serving each customer is to keep at providing a better experi-
ence with each contact or transaction. Exceptional customer service is not just a promise but also a practice. Similarly, we recog-
nise that the market is evolving because consumers’ tastes are dynamics and becoming more sophisticated hence, we continual-
ly seek to deploy the best solutions in answer to arising demands. Equally, we acknowledge that in providing top class and best
-fit solutions partnerships with supporting firms contribute to tangible success which translates to better services and solutions
for our customers.
“
To be the Nigerian
Consumers' Lender of First
Resort; a customer-focused
brand powered by services,
solutions and synergies
“
CONSUMERS’ LENDER OF FIRST RESORT
A CUSTOMER-CENTRIC BRAND
SERVICES, SOLUTION AND SYNERGIES

9. OUR MISION 8
To be a credit and investment warehouse affording customers unique solutions and stakeholders superior rewards.
We seek to provide a wide spectrum of credit and investment solutions to the 'Unbanked' populace. A firm like ours has its tentacles
within the grassroots with more efficient way of reaching both the lower and the upper ends of the middle class. Essentially, a
large size of this class are denied access to everyday credit because of stringent measures and/or sycophantic practices of banks.
Our primary aim is to keep at providing exhaustive solutions for the credit and investment needs of this teeming populace. In this
pursuit two facts are essential to us; provision of unique solutions to our customers and generating superior returns for all catego-
ries of stakeholders.
“
To be a credit and investment
warehouse affording
customers unique solutions
and stakeholders superior
rewards.
“

10. OUR CORE VALUES9
29 Investment Capital Limited is commitment to building a winning culture that help propel the growth and development of the firm
and her management. Our philosophy to doing business is deeply rooted the following tenets which we have symbolised with a
reef knot. A reef knot is a well bound, unbreakable, intertwined and dependable collection of cords. To us its dependability signi-
fies Fidelity, its bind relationship, its intertwinement innovation and its unbreakability excellence.
We take our integrity, trust and transparency a step further, we stand in absolute loyalty and support to all stakeholders and de-
mands same from them in all dealings.
We shall keep deploying cutting edge and cost saving solutions in the contexts of technology, processes, product, intellectual and
leadership in meeting the dynamic needs of the target market we serve.
We uphold the philosophy of building respectable relationships with open communication. 29 Investment Capital recognises that
our business and its success chiefly thrive on solid and secure business and social networks.
We judge excellence by exceptional value-added. This is the hallmark of our responsibility to all stakeholders. We seek this in our
customer services, management participation, partnerships and in generating reliable returns for our investors.
FIDELITY
EXCELLENCE
INNOVATION
RELATIONSHIP

11. 10

12. PRODUCTS11
29 Investment Capital is a financial institution whose principal
operations entail lending to customers who are often denied ac-
cess to financing by banks. As a fast growing consumer credit
firm in Nigeria, 29 Investment Capital facilitate personal loans,
business loans, and similar financing options. Borrowers access
lower interest rate loans through a fast and easy online or mo-
bile interface.
Our customers require a co-signer and/or character references
for credit approval, in our endeavour to create a circle of trust for
lenders. 29 Investment Capital offers loans, at risk-adjusted mar-
ket rates, from NGN50,000 to NGN2,000,000 with a typical re-
payment cycle between 3-12 months. Indeed, our loan interest
rates vary depending on loan size, ascertained customers' credit-
worthiness, and other risk factors.
29 Investment Capital maintains ongoing relationships with cus-
tomers over the life of the loan. This facilitate early interventions
in saving troubled loans and afford further provision of credit for
viable and profitable businesses. Borrowers in good standing
gain more latitude in available credit, which they use to restruc-
ture existing loans or get new ones. In granting credit, it is critical
that existing cash flow of the intending borrower be quite
healthy.
Life is full of dreams and responsibilities which sometimes
become pressing and requiring emergency or medium-
term funding. Such needs include child's education loan,
holiday financing, home renovation, acquisition of a new
car among others. 29 Investment Capital help facilitate a
quick loan for the gratification of these needs. Salaried
workers are eligible for personal loan which is offered at
competitive rates and no collateral requirement with flexi-
ble repayment plan.
This is an initiative in response to the rising demand for
private education in Nigeria. This loan is offered as a short
-term finance to private schools to facilitate smooth opera-
tions. It is a convenient means to financing their working
capital needs. Eligibility is for accredited school with signif-
icant population.
LOANS
PERSONAL LOAN
SCHOOL LOAN

13. 12PRODUCTS
29 Investment Capital also avails credit facilities to co-
operative societies of blue-chip and staff associations of via-
ble entities. This group facility affords the association to meet
the needs of her members. The cooperative or association de-
cides how to utilize the loan.
This loan is provided to facilitate customers acquisition of du-
rable goods. We arrange this loan in conjunction with reputa-
ble merchant to mitigate the pressure on the purchaser’s cur-
rent cash flow. This is offered as a Point of sale finance. The
products covered under this loan type include household
goods like Television sets, Air Conditioners, Laptops, Refriger-
ators etc. And also goods like automobiles and similar assets
are covered under this loan product.
Providing viable businesses easy and soft loans to facilitate
their working capital requirements and project financing
needs is a key part of our business. Also our business loans
are designed to help entrepreneurs' requirement of urgent fi-
nancing to expand and grow their businesses from time to
time. Like all our other loans collateral is not required but a
viability with good turnover and cash flow.
Invoice discounting is a form of short-term borrowing often
used to improve a company's working capital and cash flow
position. This allows a business to borrow against its sales
invoices/account receivables before the debtor customers ac-
tually paid. 29 Investment Capital also provide this service to
businesses.
ASSOCIATION LOAN
COMMODITY LOAN
BUSINESS LOAN
INOVICE DISCOUNTING
“
29 Investment Capital offers
loans, at risk-adjusted market
rates, from NGN50,000 to
NGN2,000,000 with a typical
repayment cycle between 3-12
months.
“

14. PRODUCTS13
DEPOSITS & INVESTMENTS
TARGET SAVINGS
ADVISORY
29 Investment Capital offer this product to help customers save
towards a specific goal - a wedding, holiday, Hajj, new car, a
house or higher education. It is a non-transactional account with
in-built withdrawal restrictions and yield a competitive rate on
annual basis. At the beginning the customer targets a lump sum
and progressively save towards it on a monthly basis.
29 Investment Capital offers this an investment vehicle with lock
in fixed amount and fixed rate over a specified period. Interest
rates we offer are competitive with flexible investment periods.
This product helps maximise the growth potential of customer's
savings.
29 Investment Capital also offer forex trading investment ac-
count services for customers who desired to earn a higher return
on their investment while taking calculated risk. This product
helps the customer in diversifying his investment while partici-
pating in the exciting world of currency trading. 29 Investment
Capital serves as the fund manager/advisor for the customer's
investment.
29 Investment Capital Limited offers financial and business adviso-
ry services to customers. This service is targeted at customer requir-
ing investment and portfolio management advice and also business
owners demanding strategic and operational interventions.
29 Investment Capital provides debt loan collection services to
banks, microfinance, non-banking and other financial institutions
with the highest ethics and in compliance with legal norms and
codes of conduct, as required by law.
FIXED INVESTMENT DEPOSIT
FX MANAGED ACCOUNT
CONSULTING
DEBT RECOVERY

15. 14PRODUCTS
Though accruable interest rate on loans given differs, it ranges
between 5% to 30% and it is carried over the term of the loan.
The rates we offer are considerably effective against competi-
tors' rates. This stream of income accounts for the larger per-
centage of 29 Investment Capital historical income; over 80 per-
cent.
This a flat fee charged for the origination of every loan and car-
ried over the life of the loan. 29 Investment Capital has not be-
gun charging this fees against secured loans but there is a plan
in the nearest future.
29 Investment Capital sometimes choose to keep a portion of its
cash standing in short-term liquid investments. These investment
securities include Treasury Bills, Commercial Notes and Public
Shares. The interests and/or value appreciations that accrued
on these securities add to our income.
29 Investment Capital receive a share of profit from returns
gained on clients' forex investment accounts. 29 Investment
Capital seeks to improve the contribution of this revenue source
to her income pool.
We foresee a tangible stream of income from financial and busi-
ness advisory and debt recovery services we offer in the years
ahead. 29 Investment Capital management is commitment to
develop this arm of the business into a viable one.
5.CONSULTANCY FEES
SOURCES OF REVENUE
1. LOAN INTEREST
2. LEGAL/ADMINISTRATIVE FEE
3. INVESTMENT RETURNS
4. MANAGED ACCOUNT RETURNS

16. MARKET ANALYSIS15
THE GLOBAL CONSUMER CREDIT MARKET
The potentials of the global consumer finance markets are almost limitless with latest social technologies facilitating a more robust
consumer financial services. The trillion-dollar market has continued to witness double digit growth rate in the last decade with fore-
casted greater growth rate as the vast majority of people in the emerging and developing world are gaining greater access to cred-
it. The strict demands and cronyism of commercial banks in these countries makes it nearly impossible for an average citizen to get
a loan. There is an estimated 500 million people who operate micro or small businesses around the world with only 10 million of
them having access to financial support for their businesses (Source: Micro-credit Summit). Based on an average loan size world-
wide of $550, demand for microloans is approximately $270 billion. The annual growth rate of the world microloan portfolio is 30
percent, with some estimates as high as 70 percent (Source: Micro-credit Summit).
Several organized financial initiatives and interventions are emerging to serve this underserved and unbanked market; these in-
clude microfinancing, peer-to-peer lending among others. Indeed, the global consumer credit market is poised for more attractions,
greater growths and evolution.

17. 16MARKET ANALYSIS
THE DEMAND IN NIGERIA
With a population of over 170 million people, Nigeria is the largest economy in Africa and the 26th largest in the world, with gross
domestic product (GDP) of $510 billion. The world ninth largest market by demography. Currently consumer goods transactions ac-
count for just about $400 billion. However, McKinsey & Co projected that the sales of consumer goods in the country may more than
triple to almost $1.4 trillion by 2030, noting that Nigeria is developing a large consuming class.
According to Lafferty Cards and Consumer Finance figures outstanding consumer loans in Nigeria stands below a mere $10 billion
far lower than the $19.11 billion in Egypt, $142.59 billion in Turkey, $228.61 billion in Malaysia and $293.29 billion in South Afri-
ca. Nigeria has only 8.2 million active borrowers out of a working class of over 40 million adults. A survey of the Nigerian middle
class by Renaissance Capital ascertained that 60 percent claimed difficulty in accessing small amounts from formal institutions. A
larger percentage of consumer loans in Nigeria is facilitated by family networks and similar informal money lenders; 71 percent. he
Nigerian consumer finance market has experienced 35% compounded annual growth from 2005 to 2012 and still remains relative-
ly under-penetrated, with over 90% of Nigerians never having applied for a loan (Net1 Report).

18. MONEY LENDERS
POTENTIAL CUSTOMERS NOT BORROWING
THE COMPETITION17
BORROWING FROM FAMIILY & FRIENDS
The total outstanding loan portfolio for Nigerian con-
sumer credit institutions is below $10 billion. This is
quite negligible consideration consumer goods trans-
action of over $400billion and the projection of over
$1 trillion with the next decade. Though this is vast
room for growth, 29 Investment Capital major com-
petitors include:
 Commercial banks
 Consumer credit firms
 Microfinance institutions
 Money Lenders
 Family/friends
 Potential customers not borrowing
The prevailing attitude by potential customers cur-
rently is not to access capital or credit, due to fear,
lack of understanding, or no market opportunity.
This dynamic is dis-incentivizing for potential bor-
rower with consequential drags on the economy in a
number of ways. Obviously, overcoming this is the
collective responsibility of all rival participants in the
market and any individual initiative in this pursuit
afford mutual benefit for the industry at large. 29
Investment Capital is position to gain from such initi-
atives.
Family and friends are presently accountable for 71
percent of granted informal loan portfolio in Nigeria.
The stringent hurdles to accessing credit facilities
from formal institution encourage individuals to turn
to family and friends. On the practical level, this typ-
ically results in under-capitalization of potential suc-
cessful businesses because family and friends are
confronting the same dearth of capital. A more effi-
cient consumer credit industry will attract borrowers
back. 29 Investment Capital is poised to facilitate
this attraction at the level of an individual firm with
offering of more efficient loan services.
These are usually local individuals or cooperative so-
cieties that lend money to people at exorbitant inter-
est rates that reflect their ability to provide capital

19. 18THE COMPETITION
quickly for their customers with limited focus on due
diligence. Money Lenders Interest rates are fre-
quently as high as 300% annual percentage rate
(APR). 29 Investment Capital offers a more function-
al rate significantly lower making it an attractive
alternative to money lenders even if the turn-around
on loan issuance is not immediate.
These institutions are one of 29 Investment Capital
Limited's biggest threat. Many have as much experi-
ence or more as 29 Investment Capital. However,
their interest rates are much higher, hovering any-
where between 60-100 percent APR. 29 Investment
Capital's competitive advantage over these institu-
tions is that its interest rates are considerably lower.
29 Investment Capital is also a nimble company,
with the ability to adapt its loans to the needs of the
customer.
These are rival firms founded with parallel objective
and market focus. As 29 Investment Capital immedi-
ate and biggest threat they offer similar attractive
rates on consumer loans. 29 Investment Capital an-
swer to this competition is in distinguishing herself
with broad-based product offerings while enhanc-
ing the transparency and fluidity of ours services to
the customers. 29 Investment Capital is among the
early and leading players in the contemporary Ni-
gerian consumer finance landscape.
Nigerian banks are present and future competitors
in this market space. These banks currently offer
loan solutions encumbered with lofty hurdles that
makes such solutions attractive only to the elite or
the more daring customers. We anticipate that the
banks may move "down the line" to capture a por-
tion of the market share. 29 Investment Capital will
keep drawing on her established relationships, her
knowledge of government regulations, and her un-
derstanding of industry dynamics to pre-empt this
competition.
BANKS
MICROFINANCE INSTITUTIONS
CONSUMER FINANCE FIRMS

20. MANAGEMENT19
29 Investment Capital has been running a lean management due to its pre-
sent relevant size and scale of operation. Wole Aworonke, the co-founder,
has been at the helm of affairs of 29 Investment Capital since inception.
Wole is a veteran of the Nigerian investment and banking industry with
over a decade experience as top executive of a number of financial institu-
tions. A graduate of the prestigious University of Ibadan; Wole is a master
tactician at developing and prompting financial products. He oversaw all
management activities at Mount Gilgal Investment Limited from 2004 to
2010. At CapitalCorp Limited, he was responsible for new product develop-
ment and double as the head of the consumer credit unit. He proceeded to
found 29 Investment Capital Limited with Peju Adeyanju in 2012. Currently,
Wole is also the Chief Executive Officer of 29 Energy Services Limited; a sis-
ter company.
Peju Adeyanju, also a co-founder of 29 Investment Capital, is the Chief Op-
eration Officer. Peju is an accomplished entrepreneur and a strategic plan-
ner. She equally run an event management outfit; Panash Consult.
They manage the entirety of 29 Investment Capital NGN55 million loan
portfolio with over 120 clients and oversees the daily operations of the firm
with the help of a couple loan officers. 29 Investment intends to staff up as
the scale of operation enlarges.
“
Wole is a master
tactician at developing
and prompting financial
products.
“

21. 20OPERATION MODEL
29 Investment Capital's operations and management has three years of successful, profitable lending experience in the consumer
credit market of Nigeria's main financial hub; Lagos. The company has developed successful activities for ensuring it is providing
excellent service and developing strong relationships with solid customers, ensuring that the loans will be repaid.
We maintain a critical focus on our customers and their needs; both existing and potential. Continually appraising customers' satis-
factions and taste as we keep aligning our services offering to them. It is our belief that this approach will add sustainable value
enabling us to differentiate our services from competitors. Nevertheless, we retain reserved focus on the products and market too.
29 Investment Capital conducts business in a highly professional and transparent manner. The company's philosophy is centered on
knowing customers, working with them to be successful, making sure they understand how their loans work, and rewarding good
credibility.
Customers are classified from A-D based factors including: payment timeliness, credit history, savings, referring new business, and
peer performance (those they referred or referred them). There are rewards and tangible benefits for top grade customers,
knowledge of which is spread among customers through word of mouth.
29 Investment Capital endeavour to keep operations compact by optimizing manpower efforts and resource deployment while
eliminating excessive overheads. We intend to keep passing this cost saving over to the benefits of all stakeholders. Equally, 29 In-
CUSTOMER-CENTRIC SERVICE MODEL
KEY MANAGEMENT PHILOSOPHY
STREAMLINED PROCESSING
BALANCED AND COST-EFFECTIVE LOAN PORTFOLIO

22. OPERATION MODEL…(Cont.)21
vestment Capital strives to keep a balanced loan portfolio to mitigate market segment specific risks.
29 Investment Capital seek to leverage on contemporary online and mobile technologies in serving our growing customer base
from the point of loan application to monitoring process culminating in final execution of acquired loans. We intend to operate fully
online with no branch infrastructure, while using technology to lower cost and deliver an amazing experience. Similarly, we are
keeping back-office support for all services centralized and largely automated.
To accelerate our expansion plan and minimize operational costs, 29 Investment Capital will be partnering with relevant service
providers in utilizing their existing infrastructure to optimize our operations and for brokering our transactions. Our aim here is to
achieve the benefits of service efficiency.
It is important to 29 Investment Capital to engage management personnel exercising a good sense of ownership in driving the
firm. It is the intention of 29 Investment Capital to institute profit sharing with employees. We also believe that this form of eco-
nomic incentives will offer us a measure of competitive advantage while providing motivation for our growth strategy.
TECHNOLOGY AND CENTRALIZED DUE DIGILENCE
VESTED MANAGERS
STRATEGIC PARTNERSHIP

23. 22

24. MARKETING AND SALES STRATEGY23
29 Investment Capital is mindful of the
fiscal operations and expenses neces-
sary to run a profitable enterprise,
hence, the marketing budget is by de-
sign, small and highly focused on very
basic, interpersonal efforts. Only those
activities that provide proven return
and bring in new loans and transac-
tions to achieve the intended growth
and projection figures are undertaken.
Grassroots marketing and establishing
trust with customers has been the hall-
mark of our operations to date. These
efforts led to a 53 percent growth in
our loan portfolio between 2012-2014.
Ensuring positive customer experience
has led to word of mouth as the leading
source for new client acquisition. Our
industry background enhances relation-
ships and business network as facilita-
tors of business activity. The "word on
the street" is the best marketing channel
and a strong indicator of a company's
reputation. It is also inexpensive.
With regards to our present scale of op-
eration other channels for publicity, es-
pecially formal channels including print
media, television, and radio, will not
yield sufficient response for their cost.
Therefore, relationship marketing like
face-to-face communication and re-
warding referrals has a much larger im-
pact, not to mention lower acquisition
cost.
Marketing activities follow the same
standards as operations, as aforemen-
tioned. This includes knowing custom-
ers, working with them to be successful,
making sure they understand how their
loans work, and rewarding good be-
haviour. Customers are classified from
A-D based factors including: payment
timeliness, credit history, savings, refer-
ring new business, and peer perfor-
mance (those they referred or referred
them). There are known rewards and
tangible benefits for top class custom-
ers—including better interest rates.
New loans are most easily made
through the "chain of trust," whereby
existing or old clients vouch (co-sign) for
new customers. The practice of allowing
top class clients to co-sign, helping
friends and family secure loans, pro-
vides 29 Investment Capital with essen-
tially a free sales force, minimizes de-
fault rates, and provides a support net-
work to support struggling customers.
We shall continue to deploy the same
tactics in introducing new products and
in entering new markets. Equally, a ma-
jor key to success is in effective new

25. SALES STRATEGY
24MARKETING AND SALES STRATEGY
hires with strong professional and social
networks that can share in 29 Investment
Capital offerings.
Indicators for measuring the success of
marketing efforts is in how little money is
spent to achieve 29 Investment Capital's
growth milestones. Customer satisfaction
will remain the lynchpin of 29 Investment
Capital's marketing strategy.
As highlighted in preceding sections, this enterprise is not starting from scratch.
29 Investment Capital has three years of profitable operations upon which to
base its sales activities. Most of the efforts will be on maintaining the current
methods and practices that have made the company successful to date—lending
to individuals in groups that know each other, providing excellent service, build-
ing trust with customers, and working with customers to ensure a successful loan.
29 Investment Capital has worked effectively with salary earners and business
owner. A target market with a growing percentage requiring external funding to
ensure they consummate aspirations timely and/or operate successfully. Further-
more, most cannot or choose not to be served by more formal banks. Even bet-
ter, this target market populace tends to exist in a close-knit business, career and
social circles. Therefore, they easily see what a loan from 29 Investment Capital
does for their business because a co-worker and friend has directly benefited
from it. Drivers ensure their colleagues do not default on their loans because they
are co-signers and do not want to lose this resource for affordable capital (and
an "A" rating). In the event of a default, the entire circle suffers loss of credibility.

26. FINANCIAL PROJECTIONS25
29 Investment Capital's fiscal year runs January 1 through December 31st. The NGN 200 million currently being
raised in our new round of funding is scheduled to close in December 2015. We anticipate the full utilization of
this new fund from the beginning of 2016 fiscal year. We hitherto adopt the strategy of leveraging equity with
additional debt to grow operations. Beginning from the next fiscal year, the management of 29 Investment Capi-
tal intends to assume a more conservative leverage ratio upon the introduction of the new capital.
The NGN200million of sought equity will fully impact revenue in FY2016. Consequently, Management projected
14 percent return in FY 2016, 37% in FY2017, 56% in FY2018. A summary of all projections are presented in the
following page.

27. 26FINANCIAL PROJECTIONS

28. FUNDING REQUIREMENTS27
There are three objectives to our present requirement of more equity funding.
1. Having achieved robust profitability in our short history, we seek to consummate our position and potentials consequently es-
tablishing our firm as a formidable player in the industry.
2. We also seek to expand our operations and product offerings along with deploying cutting edge technology for more efficient
service.
3. The management of 29 Investment Capital seeks a more conservative gearing ratio with the deployment of greater equity fi-
nancing rather more debt financing to our operations.
First and foremost, 29 Investment Capital is committed to
providing its investors with dividends, even in the early stages
of growth. 29 Investment Capital has been profitable for three
years, since its first day of operation. This proven viability le-
gitimizes the plan of paying dividends. Our management con-
siders it imprudent to forecast the value of dividends at this
time. The financial projections indicate healthy profits in
FY2016 and FY2017 of 13.9 percent and 36.9 percent respec-
tively, once scale is achieved upon this new capital injection.
Moreover, 29 Investment Capital seeks capital appreciation for
its investors. Our management anticipates that capital appreci-
ation will be augmented in the nearest future by the offering of
additional products. It is imperative for 29 Investment to make
her operations economically attractive to owners of capital to
invest in her. In this pursuit we uphold that private capital
seeks scale to maximize profits and in order to achieve scale,
equity is required. Therefore, consideration of the liquid event
on this investment is imperative.
It will be acknowledged that secondary markets do not pres-
ently exist for private stocks like ours, therefore the two most
viable exit strategies for investors include acquisition and the
possibility of the board decision for a primary listing. Consider-
FINANCIAL RETURNS TO INVESTORS AND EXIT STRATEGIES

29. 28FUNDING REQUIREMENTS
ing 29 Investment Capital commitment to stay always eco-
nomically viable and profitable, this positions us as an attrac-
tive acquisition to larger financial firms and investors. The
aforementioned considerations are the principal reasons
that 29 Investment Capital seeks to capture a niche
market and grow its loan portfolio—to bring
value to investors.
TARGET EQUITY
29 Investment Capital targets to raise two hundred mil-
lion naira (NGN200,000,000) in equity participation
from strategic investors. We do not intend this participa-
tion ends just at capital contribution. We seek strategic
investors who will afford our Board of Directors a more
professional representation with significant in banking,
finance and/or consumer goods market. This is an in-
nate ingredient in our growth strategy and in building
an endearing brand.

30. FUNDING REQUIREMENTS29
It is self-evident that 29 Investment Capital is viable firm with vibrant strategy and business model in an emerging industry with
abundant opportunities affording for superior return on invested resources. Indeed, 29 Investment Capital has gotten a competi-
tive advantage in this niche market. Consequently, it is imperative to capitalize on our achievement so far and consummate on
our edge in building a reputable financial institution that yield unending value and sustainable returns for all stakeholders alike.
A legacy of prosperity; an indispensable goodwill.
In pursuant of the above upon raising the planned sum of equity 29 Investment Capital targets, our management scheduled to
apply funds according to this plan here below.
ACQUISITIONS DEPLOYMENTS PRODUCTS OPERATIONS
Micro Finance Bank
licence
Technologies for Accounting,
Risk Management and CRM
Improve our current services
offerings and establishment
of new product lines
Talent acquisitions and
improvement of opera-
tional efficiency
25% 5% 65% 5%
NGN50,000,000 NGN10,000,000 NGN130,000,000 NGN10,000,000

31. 30
"If we are looking for one single action which will enable the poor to
overcome their poverty, I would focus on credit."
—Dr. Muhammad Yunus
Founder, The Grameen Bank

32. 29 Investment Capital Limited
256B Ikorodu Crescent, Dolphin Estate,
Ikoyi, Lagos
RC NO: 1040405