The Nation Newspaper

Tag: e-commerce

  • Marketbuddy eyes $6tr e-commerce space

    Marketbuddy eyes $6tr e-commerce space

    An indigenous e-commerce platform, Market Buddy, said it is eyeing a slice of an estimated $6trillion global electronic or e-commerce market.

    Read Also: Wema Bank plans N200b in placement, rights issues

    Its Founder and Chief Executive Officer, Adejuwon Adeboboye, at the formal launch of the platform at The Nest Technology Hub, Lagos, said the firm wants to bridge the gap between blue collar artisan, who has no reach on the internet but that just depends on their traditional day to day pickups from people on the road side by giving them platforms to exhibit products and services globally.

    Data Analyst, Mobolaji Anthony, said the firm has made progress significantly and positioned adequately well to benefit for the global ecommerce market put at $6 trillion, which is open to everybody.

  • New e-commerce platform to connect African sellers with global buyers

    New e-commerce platform to connect African sellers with global buyers

    A new kid has emerged on Africa’s e-commerce block. Known as GiriToday, the home-grown, revolutionary e-commerce platform is designed to connect Nigeria and other African sellers with buyers around the globe in real time.

    GiriToday was developed by two Nigerian tech entrepreneurs, Wale Ayantoye and Ola John Ajiboye, with a commitment to shaping the future of global trade—where Africa is at the centre–sharing its heart with the world.

    Founder and Chief Executive Officer, GiriToday, Wale Ayantoye, said the latest entrant into the continent’s e-commerce space leverages cutting-edge technology by integrating the power of Artificial Intelligence (AI) and machine learning to provide seamless, fast, secure and efficient trading experience for buyers and sellers.

    For sellers, GiriToday offers them the opportunity to showcase their creativity, reach buyers around the globe, and expand their reach and grow their business by showcasing their products to a global audience. This translates into streamlined customer acquisition and a higher return on investment.

    GiriToday, which is expected to go live in February 2025, also boasts secure transaction systems. It’s tailored or personalised product matches between sellers and buyers are also bound to redefine e-commerce for local African artisans and communities, thereby fostering sustainable growth and cultural exchange.

     “We understand what people are looking for in Africa…Our goal is to give people the opportunity to list their products free of charge and connect with global buyers,” Ayantoye said.

    He pointed out that the app eliminates barriers that have historically limited Nigeria and African entrepreneurs, which is why, unlike traditional e-commerce platforms, GiriToday allows sellers to list products for free.

    Read Also: 23 surprising facts about Tinubu’s Tax Reform that could change everything

    By eliminating intermediaries and listing fees, GiriToday ensures transparency in pricing, enabling artisans to focus on their craft while accessing a wider audience. “We are helping African entrepreneurs overcome the logistical and financial hurdles of going global,” Ayantoye stated.

    He also said GiriToday guarantees payment at the prevailing foreign exchange rate, ensuring that sellers benefit fully from international transactions.

     “GiriToday is about empowering African artisans and entrepreneurs. With this platform, sellers from Lagos to Accra can directly connect with buyers in the U.S., Canada, or Europe, earning fairly and on time,” Ayantoye emphasised.

    He noted that with a focus on speed, efficiency and authenticity, “We are bridging the gap between emerging African markets and the global digital economy, promoting both trade and the responsible growth of cross-border commerce.”

    Also speaking, co-founder of GiriToday, Ola John Ajiboye, said: “This platform isn’t just a marketplace. It’s a culturally rich hub that brings Africa’s unique heritage to the world. From custom-tailored clothing to handcrafted goods, buyers can interact with artisans in an entirely new way, supported by features like body imaging and virtual reality.”

    Ajiboye, while noting the platform’s commitment to creating authentic experiences, said irrespective of where one is, “GiriToday brings Africa to you, making it easy to discover and purchase authentic African products and experience the beauty of African culture.”

    GiriToday is poised to emerge the fastest-growing marketplace connecting Africa to the world. The e-commerce platform makes it easier than ever for people around the world to discover and buy authentic African goods.

    From vibrant textiles to handcrafted art, the platform is building bridges between Africa and the rest of the world, thereby helping Nigeria and other African entrepreneurs tap into new markets, particularly the African diaspora seeking to reconnect with their roots.

    Also, the new online marketplace, according to its developers, offers entrepreneurs the mouth-watering opportunities embedded in the African Continental Free Trade Area (AfCFTA) agreement which implementation has since begun.

    This is so considering the platform’s advanced technology which addresses some of the longstanding issues and bottlenecks in cross-border trade, such as product misrepresentation and logistics.

    Also, the e-commerce start-up boasts a rigorous product verification system that ensures authenticity. Its integrated shipping Application Programme Interface (API) also provides affordable delivery options, while product insurance further enhances trust for buyers and sellers alike.

    The story behind “Giri” is as vibrant and meaningful as its mission. Derived from a Yoruba expression, “Se Giri”, which translates to “be snappy,” “be quick,” “be fast,” or “be speedy.” In Yoruba, the word “se” means “be,” while “Giri” refers to the idea of being fast, snappy, or agile.  

     “This phrase embodies the essence of what GiriToday aims to achieve: speed, efficiency, and responsiveness in connecting buyers and sellers from across the world,” Ayantoye explained.

    His words: “When we say “se Giri” of “Giri,” we’re not just talking being fast in physical speed-we’re talking about the agility and quickness with which we aim to make global trade faster, more accessible, and more seamless for everyone involved

     “At GiriToday, we are committed to quick, reliable transactions that allow our sellers in Africa to reach buyers in the U.S., Canada, Europe, and the UK at lightning speed.”

  • Nigeria’s e-commerce value reaches $9.02b

    Nigeria’s e-commerce value reaches $9.02b

    The Nigerian Export Promotion Council (NEPC) said that the country’s E-commerce value rose from $675.68 million in 2022 to $9.02 billion in 2024.

    It however noted that the country is the 38th largest market for e-commerce ahead of Pakistan and behind Finland with an expected yearly growth rate of 12 per cent between 2021 and 2025.

    Its Director-General and Chief Executive Officer of the council, Mrs. Nonye Ayeni disclosed this at a one-day sensitisation workshop on the implementation of the developed national e-commerce strategy organised by the Federal Ministry of Industry, Trade and Investment (FMITI) yesterday in Kaduna.

    Read Also: Nigeria’s economic struggles and international trap

    Represented by the State Coordinator, NEPC, Kabir Yusuf, the DG the workshop was critical and timely particularly for Small and Medium Enterprises (SMEs)exporters who constitute the largest number of actors in the export supply chain but lack the lre-reqiisitie knowledge of e-commerce.

  • Nigeria’s e-commerce value rose from 675.68m USD to 9.02b in 2023 – Export council

    Nigeria’s e-commerce value rose from 675.68m USD to 9.02b in 2023 – Export council

    The Nigerian Export Promotion Council (NEPC) said that the country’s E-commerce value rose from 675.68 million USD in 2022 to 9.02 billion USD in 2024.

    It, however, noted that the country is the 38th largest market for E-commerce ahead of Pakistan and behind Finland with an expected yearly growth rate of 12 percent between 2021 to 2025.

    The Director General and Chief Executive Officer of the council, Mrs. Nonye Ayeni disclosed this at a one-day sensitisation workshop on the implementation of the developed national e-commerce strategy organised by the Federal Ministry of Industry, Trade, and Investment (FMITI) yesterday in Kaduna.

    Represented by the State Coordinator, NEPC, Kabir Yusuf, the DG the workshop was critical and timely particularly for Small and Medium Enterprises (SMEs) exporters who constitute the largest number of actors in the export supply chain but lack the requisite knowledge of e-commerce.

    While describing e-commerce as a powerful tool for sustainable growth and development in Nigeria, she noted that it has the potential to unchain new opportunities, create jobs, and increase access to markets both locally and globally.

    She urged participants to harness the power of e-commerce to drive innovation, entrepreneurship, and economic prosperity.

    Director, Commodities and Export Department, FMITI, Kaura Irimiya who was represented by Ahmed Abdul said the workshop with the theme, ‘Implementation of National E-Commerce Strategy: Catalyst for Harnessing the Transformative Power of Digital Commerce for Sustainable Economic Growth and Development in Nigeria’ is aimed at harnessing the transformative power of digital commerce as a catalyst for economic progress and development, mostly in an era where technological advancements dismantle traditional trade barriers, e-commerce emerges as a way for Nigerian businesses to expand their horizons, penetrate new markets, and bolster their global competitiveness.

    He said, “By embracing digital platforms and innovative technologies, Nigerian entrepreneurs and enterprises can transcend geographical constraints and unlock untold avenues of prosperity.

    “Available data has shown that the current market opportunity for electronic commerce in Nigeria is over N255 billion annually, growing at a rapid rate of 25 percent per annum and has attracted over $200 million in foreign investment. Also, experts in the Nigerian financial service sector have estimated that Nigeria’s e-commerce market was currently worth about $ 13 billion in 2017 and is estimated to reach $50billion over the next ten years. This therefore calls for the need for an enabling environment to rapidly evolve to drive the growth of the sector and to contribute significantly to economic growth.”

    Read Also: Experts mull implementation of national e-commerce strategy to attract $50b in 10 years

    Also, the Commissioner of the Ministry of Business Innovation and Technology, Patience Fakai who was represented by the Permanent Secretary in the ministry, Dr. Yusuf Saleh said the COVID-19 pandemic has accelerated the global shift towards digital commerce.

    “Here in Kaduna State, we have witnessed how e-commerce has enabled businesses, particularly MSMEs, to reach new customers, expand their market presence, and build resilience amid disruptions through various intervention programmes by the Kaduna State Enterprise Development Agency (KADEDA).

    “However, we are also aware of the significant barriers and challenges that need to be addressed to fully leverage the potential of e-commerce in Nigeria. Issues such as infrastructure, digital literacy, access to digital payment systems, consumer trust, and regulatory frameworks must be tackled head-on.”

    He noted that e-commerce will create a roadmap for coordinated action between the public and private sectors to drive e-commerce adoption and growth across the sub-national and national levels.

  • Sustainability and green solutions: A new trend in e-commerce revealed by PromoCodius research

    Sustainability and green solutions: A new trend in e-commerce revealed by PromoCodius research

    E-commerce is going through an ecological transformation. Sustainability is more important than ever. In 2023, one of the biggest trends in e-commerce is sustainability – over 80% of consumers worldwide stated that they expect eco-friendly delivery and other green solutions from e-retailers.

    E-shoppers are aware of the impact of large-scale online sales on the planet. Most of them (82%) are concerned about the environmental damage of e-commerce and expect online stores to offer eco-friendly solutions, such as green delivery with reduction of carbon emissions, plastic-free packaging or fair trade products from sustainable materials.

    Contrary to popular belief, e-commerce is already considerably more climate-friendly than stationary commerce. According to data from promo codes website Promocodius, e-commerce has an ecological advantage in the majority of sectors. This is due to a higher average efficiency in the various product life cycles, but especially in transport over the “last mile”, i.e. the final delivery of goods to the customer.

    E-shoppers demand green solutions for their online purchases

    Sustainability is more important than ever in our society – and therefore also in e-commerce. Consumers are demanding future-oriented behavior, and sellers are making environmental protection and social responsibility part of their corporate identity.

    “In response to consumer demand for greener solutions, more and more e-commerce retailers are improving their green delivery offerings and other sustainable ways to offset their carbon emissions. Zalando is a leader in this sector, having committed to reducing the carbon footprint of its deliveries and returns to zero. Customers can opt for green delivery for just a few extra cents on Zalando and Zalando Lounge. The company managed to go carbon neutral on their own operations and all deliveries and returns”, gives an example Alisa Sklyarova, project managerfrom PromoCodius.

    Read Also; Chairman De Palms Hotel Don Okonkwo hosts CDS

    Advantages of green solutions for e-retailers

    Despite being fervent supporters of green delivery, most consumers still expect delivery costs to stabilize, which means higher costs for e-retailers themselves. Indeed, the latest e-commerce statistics show that 36% of e-shoppers are prepared to pay for it, a figure that is rising sharply every year.

    As an e-commerce brand, this means retailers have to weigh up the expense of green delivery against the competitive advantage it brings them in the eyes of customers. The extra cost of green delivery is still holding some companies back, but including it in the delivery options allows companies to offer what is still a competitive advantage, but will soon become the norm.

    How to make an online store more sustainable?

    Sustainability will therefore remain one of the dominant trends in e-commerce in the years to follow. But how and where to start transforming e-commerce business?

    It’s essential to take a close look at one’s own value chain and determine where the main problems lie – and which options represent a realistic alternative. Experts recommend starting with the “basics”, such as CO2-neutral shipping options, and gradually – if possible and desired – moving towards a fully sustainable online store. After all, Rome wasn’t built in a day.

    CO2-neutral shipping options

    The following measures can be a useful starting point:

    • Shipping and packaging: using respectful shipping materials, reducing waste and litter, offering CO2-neutral shipping options.
    • Reducing return rates: a reduction can be achieved in a number of ways, for example by improving product descriptions, increasing product quality or using advanced features such as augmented reality in the online store (more on this later). An interesting side-effect: retailer’s costs go down at the same time.
    • Sustainable materials: designing one’s own value chain in the most sustainable way possible and – very importantly – communicating this transparently to the outside world, for example in the online store itself, in the form of a newsletter, via social media or on the official website.

    Other possibilities include the offsetting of CO2 emissions. Until now, very few companies have been able to operate without emissions. With offsetting, companies first measure the amount of pollutants they continue to produce and then make a positive environmental contribution of an equivalent amount, for example by funding various climate protection projects.

    PromoCodius is an online platform that offers current coupons, deals, and discounts for thousands of well-known and leading retailers. Founded in 2016. Operated in Ukraine, Czech Republic, Poland, Slovakia, Romania, Sweden, Denmark, Finland, Norway, Spain, Mexico, United States, Turkey.

  • AMORDER future of E-commerce – Alegbeleye

    AMORDER future of E-commerce – Alegbeleye

    A United Kingdom (UK) based Nigerian enterpreneur, Oyewole Alegbeleye has said his newly developed software application, “AMORDER “ will elevate future of commerce through the use of cutting edge technology, saying the application would help in revolutionizing buying and selling and promote e-commerce.

    He stated that AMORDER would revolutionise how buying and selling is done between Nigerians products sellers and restaurants in UK e-commerce market, with a mission to empower 5,000 restaurants, stores and enhance their sales and delivery services within the first 24 months. 

    Speaking with The Nation, Alegbeleye noted that the application is not just another e-commerce platform but a bold innovative leap that transcends the ordinary.

    He said it would empower restaurants and stores to connect with customers in unprecedented ways, adding that the new software will encourage young entrepreneurs who want to start selling products online, and gain financial freedom, small scale businesses,

    Alegbeleye encouraged new restaurants and stores and anyone who want to start businesses in those categories to start maximising the innovation that seeks to transform landscape for restaurant and store owners while reshaping buyer behavior in the UK and Nigeria market.

    Read Also: ‘AMORDER is future of e-commerce’

    He said: ”AMORDER is an invitation to culinary artisans , Chefs, Fashion designers, pharmacists, delivery riders and drivers and shop owners to connect with their customers in extraordinary ways.”

     “Our platform is not just about transactions; it’s about transforming experiences.” AMORDER offers a unique proposition for enhancing the buying and selling experience, crowned as the ambassador for quality and affordable orders.”

    “The application is also meant for business owners looking to forge new connections and make a difference in the market, I also engaged series of remarkable talent as a digital product developer such as EMobilesms APP, Niajaestate.com, job247.co.uk, and CorporateSupport247.com among others.”

  • E-commerce platform commences operation

    WAWOOH, an African focused fashion and lifestyle ecommerce platform has commenced operations in Nigeria.

    Wawooh will facilitate growth in Africa fashion industry by providing a platform for fashion designers and consumers to engage in transactions and collaborate.

    Speaking during the launch, Chief Executive Officer, Wawooh , Kunle Oladipo reiterated the commitment of the company to unlocking more opportunities for fashion creators by providing them a platform to showcase their designs to a larger audience.

    ‘’ Through our Wawooh Event and Wawooh Marketplace platforms, we have created a solution that will help fashion creators increase their earnings. This platform which features thousands of unique fashion items from leading designers across Africa also has a unique feature that enables you input your measurement online, and order for a bespoke/made-to-fit item which will be delivered to your doorstep.

    “We have also put in place an escrow system which ensures vendors aren’t paid until you have indicated that you received your order in perfect condition. This is to maintain a high quality of service.’’ he said.

    Business Development Manager, Wawooh , Bolaji Omitogun also said ‘’We are focused on projecting positive narratives about Africa through fashion, we are showing the world the creativity, brilliance and craftsmanship of Africans. We currently have a large database of designers who showcase a diverse line of bespoke and ready to wear African fashion items, modern attires & accessories including; Customized native Ankara apparels, Embellished Aso-oke or Batik dresses, patterned dresses, bags, native Hausa caps, Ankara bags & shoes on Wawooh .”

  • NGO trains farmers on E-commerce

    Sunny DeLegend Services, a Non Governmental Organisation ( NGO), in collaboration with Kogi Government  has trained 500 farmers on “Agriculture Beyond Food: E-commerce Training”.

    Its  Managing Director, Mrs Joy Amuta, said  in Lokoja that the training would cut across areas such as agriculture, fashion, recycling and real estate.

    She added that 10,000 farmers were targeted through value chain with Information and Communication Technology (ICT) including benefits such as workshop, business plan, loan facilities, off-takers opportunity, partnership and business connection.

    “Many people do not know that with agriculture you can become a millionaire, and that is the reason we are trying to educate, sensitise and train them in that aspect.

    “We are also partnering with Tehilla Shelter Foundation, Heal4Africa Initiative,Small and Medium Enterprises Development Agency of Nigeria(SMEDAN) and other stakeholders to bring hope to the people and restore to them what they had lost in agriculture.

    “Today, we are opening the mind of the participants that they can actually channel whatever passion they have into agriculture; you can source your income from agriculture and use it to develop your passion,” she said.

    Amuta commended the state Commissioner for Agriculture, Mr Kehinde Oloruntoba, for making the programmme a success, saying the farmers are ready to really engage in mechanised farming.

    “We will educate, sensitise, train and give them the necessary information on how they can easily access these funds.

    “We urge all farmers across the state to take advantage of the programme and key into it,” she said.

    She added that the organisation had mapped out 1,000 hectares of land for this wet season, but the main challenge was land clearing, saying the commissioner has promised to facilitate it.

    Oloruntoba commended the organisers for the initiative, describing it as a wonderful project and a way of empowering the people to richness.

    According to Oloruntoba, there is land, water and people; and the government is supporting agriculture, but the NGOs are needed to partner with government to educate and train our people.

    “So, programmes like this will create an avenue to let our people know those opportunities that are available to them and take advantage of them.

    “We have also completed land mappings few days ago for 4,800 farmers with minimum of one hectare each, for proper information and accurate data to eliminate sharp practices,” he said.

    Mr Clement Ilegoke, a participant, said on behalf of his colleagues that: “I think we are impressed because the loans are well explained and we are all ready to go back to the farm and make the state proud.”

  • BBNCoin to transform e-commerce, real estate

    The promoters of BBNCoin have said  the product would focus on e-commerce and real estate. It will also create an end-to-end platform for real estate developers and customers. They are also urging the public to embrace the cryptocurrency, adding that it would work towards providing an opportunity for merchants to accept mobile payment.

    To this end, BBNCoin Brand promoter, Balogun Olayemi, in a statement revealed that the initial coin offer (ICO), that is, public sale of product which commenced on November 29, would run through January 30, 2018.

    Olayemi explained that the BBNCoin is a new ecosystem where traders, real estate developers, and merchants can efficiently and securely evaluate and trade on real items. Besides, he revealed that the product is built on the “Blockchain technology,” making it able to be used as a viable means of part payment and part value between a developer and buyer, especially during a land purchase period.

  • Five years of e-commerce: Nigerians count losses

    Five years of e-commerce: Nigerians count losses

    Five years after e-commerce vendors, especially foreign-owned online shopping portals, set up shops in the country, Nigerians, who have had unpleasant experiences, in this report share their pains and agonies with TONIA ‘DIYAN

    n the beginning

    t’s been five years since Nigerians started shopping online but everything seemed not to have gone on well with the business. Between 2010 and 2011, when e-commerce started on a large scale across the country, the conversation was really on educating people about how to shop online and getting them ready for e-commerce.

    Thus, most online platforms introduced the pay-on-delivery method to reassure customers that they will get the right products and right quality when they shop online. There were customers who worried then that their payment details would be compromised, if they shopped and paid online; therefore, paying cash on delivery was the preferred choice.

    Today, shopping online has become a lifestyle for most Nigerians as many are accustomed with the trend. Visits to local supermarkets have reduced in most cases and people are more comfortable paying online before their goods get to them because online stores have succeeded in winning their trust via good and reliable service delivery.

    To ensure that Nigerians get involved in the trend, aggressive marketing, constant education through various channels (particularly social networks), increased brand awareness and offline activations including offline sales gained traction as a business model.

    Text messages and emails are constantly sent to people so that they can track online activities, and be the first to know of amazing deals and bargains as soon as they come up.

    Amid these achievements, one area where the online business has failed woefully is that of employment. Findings have it that usually 90 percent of online workers can be laid off at once. When these online firms enter the country, they recruit young Nigerians and fresh graduates who are energetic and can drive the business. When these young chaps are a year or two old on the job, they are kicked out without any benefits.

    Bankole Idris is a victim. He said: “I feel used and dumped because my lay off wasn’t justifiable at all. I don’t want to mention the name of the company I worked for, but I toiled for them for two years since they opened shop. Other young Nigerians and I were used as the face of their business to gain the hearts of Nigerians, and all of a sudden, we were dumped  for  fear that we might steal the business from them.

    “Most of the people in charge of getting investors  into this line of business are Nigerians and are not always truthful. When they employ, they make people believe the business is theirs or they have the larger percentage of the investment just to keep the mind of the job seeker at peace. They later turn around to bite you hard. They inflate the number of people who will use the online platform and concentrate on how soon they will get returns on their investments. But when that time comes and they can’t get any more, it becomes an issue, funds dry up and workers get laid off at will.”

    For Ngozi Okorie, the use of Nigerians as a front for online business is to show investors how accepted the business is in this part of the world and how there are local hands to run it successfully. But, in the end, the Nigerians in charge of the investors dictate what goes on and who gets fired without reasons nor benefits. “It’s just a suffer head job,” she said.

    Echoing similar sentiments, Orekunrin Temidayo, said: “The online businesses in Nigeria are owned by foreigners. Statistics showed that Africa is a new frontier for development and since we have business-friendly policies, they come here to invest. They use Nigerians to front their online business to get the approval of their countrymen and women who intend to work with them, and also Nigerians they are trying to gain their trust. At the end of the day, we find out they do not really need us. That is why it is always easy for them to lay off at will. There are some ogas at the top that are benefitting from them instead.”