According to Yele Oyekola, Duplo is a financial operations platform built to help African businesses automate payments, approvals, reconciliation, and financial workflows. The platform addresses widespread inefficiencies that cost companies billions annually, such as manual invoicing which the Federal Inland Revenue Service (FIRS) estimates contributes to ₦500 billion in annual tax leakage among Nigeria’s largest taxpayers.
The Hidden Costs of Manual Financial Operations in Africa
Many companies across the continent still rely on manual invoicing and fragmented financial systems. Businesses lose an estimated ₦800 billion to ₦1.2 trillion each year to invoice disputes, payment mismatches, and reconciliation gaps. While much of Africa’s fintech boom focused on making it easier to move money, Oyekola identified a distinct gap in how businesses managed funds after payments were made.
Oyekola’s career path provided a macro-level view of these systemic challenges. After starting as a financial analyst and working at a hedge fund—work he described as boring—he joined the United Nations to focus on public policy.
Did you know? In Nigeria alone, manual invoicing contributes to an estimated ₦500 billion in annual tax leakage among the country’s largest taxpayers, according to the Federal Inland Revenue Service (FIRS).
Building Duplo: Balancing Flexibility and Trust
“We touch money. Today, Duplo serves businesses by centralizing approvals and offering real-time cash flow visibility.
Navigating Investor Sentiment and Regional Expansion
Frequently Asked Questions
What does Duplo do?
According to the company, Duplo is a financial operations platform that helps African businesses automate payments, approvals, reconciliation, and financial workflows.
When was Duplo founded?
The sources do not state when Duplo was founded.
How much funding has Duplo raised?
The sources do not state how much funding Duplo has raised.
What problem does Duplo solve for businesses?
The platform eliminates manual invoicing errors, invoice disputes, and reconciliation gaps, which cost African businesses billions of naira annually.
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