Nigerian fintech startup, BettaLyfe unveiled, target 70 million SMEs and self-employed

BettaLyfe, a health insurance and financial services platform, has launched in Nigeria with the aim of providing affordable and accessible health care and financial solutions to the informal sector, SMEs, and self-employed individuals.
The founder, Afolabi Kilaso is a technologist and a serial entrepreneur with over a decade of experience building innovative solutions in Nigeria.

According to him, he noticed a significant gap in the availability and affordability of healthcare services for those in the informal sector, SMEs, and self-employed individuals.
In addition to the healthcare gap, there was also a gap in the availability of financial services for these groups. Many of these individuals and businesses were unable to access loans or other financial services due to lack of collateral, limited credit history, or other factors.

Afolabi recognized the need for a solution that addressed both of these gaps, and thus BettaLyfe was born. The platform offers affordable health insurance packages, as well as financial services such as micro-pensions, loans, and target savings plans.

The Impact of BettaLyfe on the informal sector, SMEs, and self-employed individuals cannot be overstated. These groups make up a significant portion of the Nigerian economy, yet they have traditionally been underserved in terms of healthcare and financial services.
Many of these individuals and businesses rely on out-of-pocket payments for healthcare, which can be prohibitively expensive. This can lead to delayed or inadequate treatment, that may ultimately result in worse health outcomes and lost productivity. With BettaLyfe, the SMEs and self employed individuals can access affordable and comprehensive healthcare coverage, giving them peace of mind and improving their overall health and wellbeing.

In terms of financial services, BettaLyfe offers a range of options designed specifically for those in the informal sector, SMEs, and self-employed individuals. Micro-pensions, for example, allow these individuals to save for retirement without the need for a formal pension plan. Loans and target savings plans are also available, allowing businesses to access the capital they need to grow and individuals to build their financial security.

BettaLyfe is poised to have a significant impact on the Nigerian economy and the health and wellbeing of its citizens. By addressing the gaps in healthcare and financial services for those in the informal sector, SMEs, and self-employed individuals, BettaLyfe is helping to create a more inclusive and equitable society.
Afolabi and the BettaLyfe team are committed to making their platform accessible to as many people as possible, and they are actively working to partner with organizations and government agencies to expand their reach.

Commenting on the launch, The founder and CEO in his words says “We believe that everyone deserves access to quality healthcare and financial services, regardless of their income or employment status. BettaLyfe is committed to making that a reality in Nigeria, and we look forward to working with our partners to achieve our goal.”

In conclusion, BettaLyfe is a much-needed solution for those in the informal sector, SMEs, and self-employed individuals in Nigeria. With affordable healthcare coverage and a range of financial services designed specifically for these groups, BettaLyfe is helping to create a more inclusive and equitable society, one that values the health and wellbeing of all its citizens.