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How to Prevent Late Payments from Crippling Your Business
No matter the size of the business/company you run (whether an SME, a startup, or a multinational company), keeping your cash flow running is one of the most critical things you can do.
Unfortunately, sometimes that’s easier said than done!
Statistics show that 80% of MSME businesses in Africa fail within their first five years of operation due to cash flow issues. So, how can you save time and avoid late fees to keep your business running smoothly? The answer is recurring payments.
Avoid Late Payments With Recurring Payments
Late payments from customers can create cash flow issues and negatively impact your business operations. By implementing recurring payment options for customers, your business can proactively address this challenge and ensure timely and consistent revenue streams.
The benefits are enormous.
Recurring payments enable you to automate billing processes and collect payments on a predetermined schedule, minimising the risk of late or missed payments. It also provides a predictable cash flow.
How Recurring Payments Prevent Costly Delays
Creating invoices and processing payments manually is an inefficient way to run your business. Apart from consuming most of your time, there’s also the risk of costly errors which can negatively affect your business and customer relationships.
As such, utilising an automated process which efficiently saves time, reduces the risk of human errors and increases the efficiency of your payment process should be your obvious preference.
Enhancing Customer Relationships
A crucial benefit of recurring payments is that it also helps to strengthen customer relationships and loyalty. This payment method reduces friction points and reduces the payment burden on customers, so payment is streamlined and seamless. By offering a convenient and flexible payment option, such as recurring payments, you enhance your customer’s overall payment experience and reaffirm your commitment to their satisfaction and convenience. This ultimately helps to foster goodwill, loyalty, and trust with your customers.
Tips for Maximising the Benefits of Recurring Payments
To optimise the impact of recurring payments, here are a few strategies that you should implement.
- Offer tiered pricing
A tiered pricing strategy means you’re providing your customers with different product packages with specific benefits at different price points. This is an effective way to cater to the preferences and budgets of your different customers. This allows them to choose a pricing tier within their budget and a payment plan that’s convenient for them. You can also leverage customer data and analytics to personalise payment options and tailor offerings to individual preferences.
- Introduce proactive management
Taking proactive measures, such as updating customers about the expiry date on their credit card and other potential issues will effectively help avoid errors that can lead to late payment and disturb your cash flow. Proactive actions take away potential issues before they pop up, ensuring that the payment process remains unhindered. Also, ensuring your customer support is proactive in dealing with concerns or questions that customers may have helps to further improve the customer’s trust and confidence.
- Streamline the payment process
Streamline your payment process and make it seamless for customers. Ensure there are minimal steps in the checkout process and that the experience is as seamless as possible.
Conclusion
Forecast revenue and plan your expenditures easily by establishing regular payment cycles with SeerBit’s recurring payments solution.
The best part?
You significantly enhance your financial stability and business resilience.
Mr. Tim Akano, New Horizons Chief Executive Officer, took centre stage at the Nigerian Information Technology Reporters’ Association (NITRA) annual end-of-year meeting on Thursday, December 18, 2025, recounting the company’s remarkable growth and reaffirming free IT training for journalists.
Tim Akano, New Horizons Chief Executive Officer, in a group photograph with NITRA Members
Speaking directly to IT media members at the company’s training facility in Lagos, Akano acknowledged the critical role journalists played in supporting New Horizons during its formative years two decades ago.
He detailed how the firm evolved from a handful of staff to one of Africa’s leading ICT skills training organisations, now employing about 500 staff across multiple training centres nationwide.
Akano Spotlights Youth Training, University Partnerships
Akano highlighted that New Horizons has trained over 500,000 youths, particularly tertiary institution students, equipping them with practical IT skills essential for Nigeria’s digital economy.
He announced recent partnerships with universities, including a new agreement with Afe Babalola University, to scale hands-on training programmes for students.
“This growth would not have been possible without the media’s support in documenting our journey,” Akano stated, pledging continued free IT skills training for media members to remain competitive in the evolving digital landscape.
Reciprocal Support Defines Long-Standing Partnership
The venue hosting the NITRA meeting underscored Akano’s generosity; NITRA Secretary Chidiebere Nwankwo secured the free facility after contacting him—a gesture consistent with New Horizons hosting multiple association events and training IT journalists since its inception 20 years ago.
Participants shared personal testimonies of Akano’s support, including veteran journalist Aaron Ukodie, whose daughter—an Accounting graduate from the University of Johannesburg—received NYSC placement and IT scholarship at New Horizons.
The Guardian’s Yemi Adeyemi recounted Akano accommodating his editor’s child for mandatory IT training after other firms declined.
Members praised Akano’s commitment to human capital development as evidence of deep appreciation for the media community that chronicled New Horizons’ success over two decades.
National Identity Management Commission (NIMC) has launched the NIMC Pre-Enrolment Portal to revolutionise the National Identification Number (NIN) enrolment process, enabling applicants within Nigeria and in the Diaspora to capture biodata online prior to biometric verification at enrolment centres.
NIMC
Accessible via penrol.nimc.gov.ng, the platform allows users to fill enrolment forms, schedule appointments, upload supporting documents securely, and manage personal details directly, thereby slashing congestion, minimising wait times, boosting data accuracy and enhancing overall service efficiency at centres nationwide.
NIMC Director-General and CEO, Engr. (Dr) Abisoye Coker-Odusote, spearheaded the initiative as part of the Commission’s technology-driven strategy to fortify institutional performance, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda that emphasises digital transformation, efficient public service delivery and inclusive national development.
Dr Kayode Adegoke, Head of Corporate Communications, highlighted key benefits including simplified biodata handling, confidential data protection through robust security measures, reduced physical centre visits and heightened operational effectiveness, urging all prospective enrollees to adopt the portal for a faster, citizen-friendly experience.[conversation_history]
The move underscores NIMC’s mandate under the NIMC Act No. 23 of 2007 to manage the National Identity Database, issue NINs and foster a reliable digital identity ecosystem vital for national planning, with users advised to complete pre-enrolment online before heading to selected centres for biometrics.
MultiChoice Talent Factory (MTF), a Pan-African film and television training institution, has announced the opening of applications for its 2026 intake.
MultiChoice
The fully funded programme is open to African graduates aspiring to become directors, filmmakers, scriptwriters, producers and storytellers.
According to MultiChoice, the nine-month accredited curriculum combines online learning with intensive in-person training, and is designed to balance theoretical knowledge with practical immersion.
MTF academies are located in Kenya, Nigeria and Zambia, and serve aspiring filmmakers from 14 African countries. Since its inception in 2018, the initiative has trained 296 filmmakers, with graduates producing more than 42 movies aired on DStv, GOtv and Showmax platforms.
Organisers said alumni of the programme have gone on to establish over 50 production companies, while many continue to work within the MultiChoice ecosystem.
Graduates have also won accolades at the Africa Magic Viewers’ Choice Awards, Kalasha Awards, Uganda Film Festival and Women in Film Awards.
Applications for the 2026 intake close on Feb. 27, 2026. Interested candidates can visit https://apo-opa.co/3XW53oE for programme requirements.
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