Spleet is addressing one of the most pressing pain points in the African rental market - flexible rent payment options. In many cases, tenants are forced to source funds to pay a full year's rent upfront, which can be a huge financial burden.

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Spleet's platform enables landlords to offer flexible rent payment options to tenants, while also providing the landlord with peace of mind that the rent will be paid on time. This is a win-win for both parties involved, and we're excited to see how Spleet will continue to grow in the African rental market.

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According to current estimates, 10.8 million Nigerian households bring in more than $5000 a year each, classifying them as upper-middle and above. With such a large number of prosperous earners already present in the country, it is projected that this figure will double by 2030 - with 230 thousand of young professionals aged 25 - 35 raking in incomes between the brackets of $5000 and $10 000 annually! 

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Given these figures, it is estimated that the rental market in Nigeria alone currently stands at a colossal $9 billion. 

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What's next for Spleet?

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Spleet is expanding its product offerings to include Collect, a service that automatically receives rent payments on behalf of landlords; Verify, a tool that enables landlords and real estate agents to vet and carry out adequate background checks on tenants and Rent Now Pay Later, a no collateral, affordable-interest rate rental loan product.

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