Living On Recharge Cards   

Published on August 30, 2010 by TheNEWS   ·   9 Comments

How to survive the hard times through recharge cards printing business

For Boluwaji Akande, a graduate of Statistics, life was a misery after Youth Service in 2007. For two years, he pounded the streets seeking white collar jobs, especially in oil firms and banks. The thought of any other idea at survival, beside classy office jobs, was alien to him. Discussions of entrepreneurship would not just jell with him, because as he would always ask, “where do I get the big capital to start a business worthy of my status?”

Two years of joblessness and Akande could hardly afford cheap rubber bathroom slippers. As he narrated: “Frustrated, I gave a listening ear to a friend who had been finding it hard convincing me to start printing recharge cards. I got my training from the friend, Emeka, who has been in the business for two years. We made over N60,000 the first month I joined him. I later summed up courage to start mine February this year. Now I can boast of an average of N30,000 to N50,000 monthly” he disclosed.

Akande’s is a typical case of tens of thousands of Nigerian graduates racked by poverty as they knock on offices competing for jobs. The Minister of Finance, Segun Aganga, revealed recently in Abuja that more than 12 millions Nigerians are unemployed, majority of them youths. As jobs become more scarce, graduates like Akande are being compelled to resort to business options. And one of the easy-to-start options is printing of recharge cards.

Since the Olusegun Obasanjo administration banned importation of recharge cards in 2005, the local business for printing of these cards has been witnessing tremendous development. Recharge cards are one of the fastest selling products in the country as it behoves on millions of phone users to unavoidably use credit. With over 30 million phone users demanding credit, the recharge card printing business is growing at a fast rate. It is estimated that over N5bn worth of recharge cards of about eight networks are produced in Nigeria.

Printing of recharge card does not require much ado. A newcomer to the business opens an e-mail account. This is like an on-line medium of interaction between the business owner and the dealer. It is a platform through which the e-mail user receives recharge pins from the dealer licensed to carry out such function. Mr. Sami Yusuf, an expert in the business, advised it is better to use a personal e-mail address to avoid disclosing the pins to another party. “I strongly suggest the business owner must have his personal e-mail address instead of using that of a friend or relation to prevent unauthorised copying and uploading of pins,” he advised.

The recharge card printer will then have a:
Software
The software helps to generate, upload and separate pin numbers as well as arrange the serial numbers. Averagely, the software sells for N3,500 – N15,000 in Nigeria, depending on the source or the seller.

Computer system
Basically, a computer system with an internet facility is considerably suitable since the business is in electronic form. The software is installed in the computer. Adhering to safety tips and installing anti-virus are advised; these prevent loss of vital data, pins or numbers on the system. “In case, personal internet connectivity is not affordable, using the cyber café might be a good option,” Yusuf stated.

Printer
The printer, either black or colour, simply prints the pins generated. Since printing is involved, making provisions for paper is automatically inclusive.

Bulk Pins
These are the series of pins requested by the business owner from a registered dealer. The business might not require much capital, especially if there is a cyber café at reach. But a small take-off fund might be needed with the desire to purchase personal software, the computer system which sells for N30,000 – N35,000 and the printer which goes for an average price of N18,000 – N20,000.

Mr. Amechi Onyebuchukwu, the production manager at Classic Cards Technology Ltd. summed up the process involved. “Ensure you have a viable e-mail address and access to a computer system connected to the internet. To start, log on to a dealer’s website of your choice and fill in the necessary information to register. This will require providing an I.D and passwords that will be guarded confidentially. The registration is free and is readily available. A message of confirmation will be sent by the chosen dealer to the user’s email box. This is very important to be sure you are duly registered. After this, the business owner can download and install the trading software on the system. This enables you to generate your recharge pins requested from your dealer. As soon as your request is confirmed and you pay for recharge pins,  and your dealer confirms your request and send it to your e-mail box, you can upload and start printing. You might wish to include the identity of your company on the cards” he explained. The software usually comes with a user’s guide.

In making request from dealers, the user will have to specify the units and the identity of the card he wants. For instance, 500 units Glo. Denominations printed mostly in this respect are the N100 and N200 cards of all the networks; low denominations are in huge demand across the country because of the equally low purchasing power of consumers. Most companies transact on-line, while some may demand visit to their offices to make payment or demands. Whichever way, it is dealing with a legitimate dealer that is important. Once payment is done, the recharge pin is expected to be sent to your e-mail. There, this is uploaded on the desktop in Microsoft word format or saved in a flash drive in case it is not a personal desktop. From here, the business of printing and selling of cards wholesale can commence fully.

According to Yusuf, the volume of profit in recharge card printing depends largely on the amount invested and magnitude of patronage. The possibility to make N100,000 to N500,000 monthly, he assured, is high from the comfort of one’s home, owing to the consistent demand for the products in Nigeria.

—Femi Ayodele

Tags:  Boluwaji Akande, Youth Service