2. Nigeria 8 th most populous country (150Million people) 8 th largest producer of oil Business capital city, Lagos, ranked 30 th in cost of living.  Only US city ahead of it is NY, 22nd, LA 55th,...Chicago 84th  Source: mercer.com, Forbes magazine, NY Times

3. Current state of e-commerce in Nigeria Paucity of e-commerce websites Fraud, identity theft, phishing Limited payment options Limited shipping options Complex websites

4. pay.com.ng Make payments online at pay.com.ng Make payments using a web-enabled phone No need for credit/debit card or bank account Ultra-secure system  3-factor authentication: password, pin and hardware generated number  128 bit SSL website  160 bit SHA encryption of sensitive data Easy to use website

5. simple.com.ng Integrated Internet services  Auction  Web shops  Real estate listing  Job listing  Auto listing  Classifieds  Advertisements  And more.......

6. 9zencart Open source software Free to everyone Only uses pay.com.ng Features include: gift certificates, coupons, discounts, shipping costs calculator

7. Milestones pay.com.ng system in beta testing simple.com.ng in beta testing. More features planned Planned integration with 6 of the 24 banks Pilot with Virgin Nigeria Airways Pilot with Mona Hotels Partnership with naijamessenger.com, Yoopta Listing agreements with real estate agents and auto sellers

8. Financing sought $5M to cash flow positive Use of funds  Marketing budget $3M  Computer equipment to connect with 24 banks $720K  Computer servers and storage $280K  Operations $1M

9. Financing cont... $1M first round Use of funds Equipment to connect to 10 banks $300K Marketing $200K Computers for servers and storage $100K Operations $400K

10. Revenue model pay.com.ng 0.5% transaction fee simple.com.ng  $0.85 per listing for auto, real estate, job and auction  Additional 3% of closing value for auction Advertisements Future revenue from SaaS offerings

11. Cash flow projection Cash flow in 000's (USD)

12. Team Management  Lanre Sarumi CEO  Jamie Sabin CTO  Ibukun Dalmeida CMO Advisory board  Gbade Alabi, CEO CBC Ltd  Seun Peters, Partner, South Pacific Solicitors  Nike Ogunlana, Former ED, ARM Ltd  Jason Sissel, Founder, Sissel Capital Management

13. Exit strategy Separate IPO of pay.com.ng and simple.com.ng in 4 years Acquisition by eBay, Yahoo!, MSN, Amazon or Google

14. Summary Hindsight is perfect, foresight is priceless