Digital cloud cooperative platform debuts in Nigeria
Cloud Cooperative, a digital cooperative society, has officially launched in Lagos after its pre-launch in August. The founder, Oluwaseun Bamiro, initiated the idea during the COVID-19 pandemic when a friend needed police escort to attend a cooperative society meeting in Ilorin. Bamiro invested over $10,000 in the app’s development. Despite his background in shoe-making, he transitioned into fintech, driven by his love for technology. Cloud Cooperative operates under the Nigerian Cooperative Society Act, is registered with Lagos State authorities, and aims to assure regulatory compliance and fund safety. It combines technology with traditional cooperative principles.