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Olumuyiwa Olowogboyega
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Last week, a few tenants who rent residential spaces with Fibre.ng told TechCabal that they had received lease termination notices from the company. Fibre, Nigeriaâs premier property tech startup, has been out of the news cycle for a few years. In that time, there have been questions about its business and whether it was still operating.Â
Despite those rumours, the startup continued to operate without the fanfare of its competitors, Muster and Spleet.
A termination notice shared by a Fibre.ng customer
Three tenants told TechCabal that they also received the same email from Fibre informing them that their leases would be terminated by May 30th. A few of those people concluded that Fibre was being sold.
WHERE IS FIBRE?
Despite being the pioneers in the Nigerian property tech space, Fibre has had a silent couple of weeks. On an office Slack channel last year, Lanre even asked, “what’s happening with Fibre?”
It seemed like a good story angle so I reached out to the company’s Director of Operations, Munachi Ogbonna and we had an interesting conversation. He said Fibre’s silence is intentional because they’re working on some changes to the business.
Some of these changes are from constructive feedback they got from customers. He spoke frankly about some of the challenges involved in running a property tech business. So, I figured, why not turn it into a holistic conversation?