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Adoption of e-commerce services massive in Nigeria

22 April 2015, 19:37 Okoro Chinedu

Lagos - MOBOfree.com, the leading African social marketplace, announced that it had experienced an increase of more than 44 percent in the number of registered users in Nigeria over the past 12 months.

Officials said this resulted in a more than 1 000 percent increase in the number of classifieds published on MOBOfree.com in Nigeria.

This in turn makes more than 500 000 active listings on the platform in Nigeria only.

With 4 million registered users, including 2 million monthly active users in Nigeria and a strong footprint in Uganda and Zimbabwe, MOBOfree is one of the largest and most successful classifieds platforms in Africa.

“Online trading is growing rapidly across Africa as the IT and mobile infrastructure across the continent continues improving. Despite that, part of our challenge still is convincing people of the value of using the internet to buy, sell or swap items and services,” said Cristobal Alonso, Chief Executive Officer and co-founder of MOBOfree.

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He said in line with that, they understood that African countries had their own culture, different rates of internet, mobile and smartphone penetration, such that every African market should be approached with an individual strategy.

“Things that work in Europe or United States can be totally unacceptable for African users. MOBOfree entered the African markets with a unique concept as it connects social networks and classifieds together in a single platform. The substantial growth achieved by MOBOfree confirms that this concept is well accepted in African markets as number of users is quickly growing and more and more people seem to prefer MOBOfree to traditional classifieds companies.”

Nigeria’s e-commerce market is developing rapidly, with an estimated growth rate of 25 percent annually and a potential worth of $10 billion – with around 300 000 online orders currently being placed on a daily basis.

A report released by McKinsey & Company indicated that e-commerce could account for 10 percent of retail sales in Nigeria, Africa’s largest economy, by 2025.

- CAJ News

Tags ecommerce

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