The effects of a weak Naira on iROKOtv

Last weekend I spent the time reading about the impending devaluation of the Naira. I, like most normal human beings, am not a currency trader, so was somewhat surprised when CBN announced the 8.6% devaluation on Tuesday. This most beautifully, well written article is an absolute must-read and can be found here > CBN and the Nigerian Economy. I believe it hasn’t finished.
I am from the UK. But due to our investors being initially from the US, we rapidly became a Dollar dominated company. We buy content, sell content, price subscriptions, pay salaries (mostly) and think in Dollars. Even till today, I struggle to grasp the day to day value of the Naira because all day everyday I deal in USD. Anyway. In theory, as only 3% of our revenue comes from Nigeria, a strengthened dollar has little to no impact on us, if anything it’s rather positive, we now have more bang for your buck. Yet it plays havoc with our Nigeria strategy. In Africa, Ghana has our second largest subscriber base, I...

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